Canada: Medical Instruments Market 2024

Medical Instruments Market Size in Canada

In 2022, the Canadian medical instruments market decreased by -0.9% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by 8.6% against the previous year. Medical instruments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Medical Instruments Production in Canada

In value terms, medical instruments production surged to $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The growth pace was the most rapid in 2020 with an increase of 248% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Medical Instruments Exports

Exports from Canada

After three years of growth, shipments abroad of instruments used in medical sciences decreased by -11.7% to X tons in 2022. Overall, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 123% against the previous year. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, medical instruments exports expanded notably to $X in 2022. In general, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 with an increase of 108%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for medical instruments exports from Canada, accounting for a 90% share of total exports. It was followed by Germany (X tons), with a 2.5% share of total exports. The third position in this ranking was taken by Costa Rica (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.4% per year) and Costa Rica (+49.5% per year).

In value terms, the United States ($X) remains the key foreign market for instruments used in medical sciences exports from Canada, comprising 90% of total exports. The second position in the ranking was held by Germany ($X), with a 2.5% share of total exports. It was followed by Costa Rica, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.8% per year) and Costa Rica (+50.1% per year).

Export Prices by Country

The average medical instruments export price stood at $X per ton in 2022, jumping by 29% against the previous year. In general, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the United States ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Japan ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Canada

In 2022, imports of instruments used in medical sciences into Canada fell slightly to X tons, standing approx. at 2021. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 with an increase of 11% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted slightly in the following year.

In value terms, medical instruments imports reduced to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical instruments supplier to Canada, with a 42% share of total imports. Moreover, medical instruments imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. The third position in this ranking was held by China (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+7.8% per year) and China (+9.5% per year).

In value terms, the United States ($X) constituted the largest supplier of instruments used in medical sciences to Canada, comprising 42% of total imports. The second position in the ranking was taken by Mexico ($X), with a 15% share of total imports. It was followed by China, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+6.6% per year) and China (+8.3% per year).

Import Prices by Country

The average medical instruments import price stood at $X per ton in 2022, waning by -11% against the previous year. In general, the import price continues to indicate a slight slump. The growth pace was the most rapid in 2014 when the average import price increased by 17%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and Costa Rica ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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