Canada Market Overview

Canada is geographically one of the world’s largest countries, but only has a population of 33 million. The economy is highly developed, and GDP per capita, at US$39,710 in 2009, is on a par with the US or EU.

In 2009, the Canadian Medical market is estimated at US$4.8 billion which, considering the size of the population, makes it one of the world’s richest medical markets. Much of it is supplied by imports, largely from the USA. Espicom expects the market to increase by a CAGR of 7.7% to reach US$6.9 billion in 2014. However, Canada does need to invest in innovation in order to keep its market share.

In 2009, the USA has added Canada to its priority watch list over concerns over IPR protection and enforcement.

In contrast to the USA, Canada’s healthcare system is very much based on public funding and provision, as in the UK. Expenditure is generally high, at around 11% of GDP in 2009, although inefficiencies remain. Health provision is the responsibility of provincial governments, which often have widely differing targets and priorities.

There is also very little private involvement in the hospital sector. Private expenditure tends to concentrate on non-physician specialist services and pharmaceuticals.

The Canadian medical market depends upon imports for around 80% of its consumption, making it an attractive market to foreign suppliers.