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Medical Device Manufacturing in Canada Industry Data and Analysis
Canadian medical device manufacturers have endured volatility. Given the essential nature of medical devices, higher total health expenditure and the Canadian dollar's depreciation were boons for manufacturers. While steady demand from the healthcare sector and an aging population often insulates manufacturers from large economic fluctuations, the pandemic created notable disruptions; healthcare providers shifted resources to battle the pandemic, contributing to an overall drop in revenue. Supply chain issues for key components of medical devices also weighed on performance. However, medical device manufacturers returned to growth as healthcare trends normalized across a population that has continued to age. Although revenue is expected to contract at a CAGR of 1.0% through 2025, the industry is expected to top $6.6 billion. Still, another down year is forecast for 2025, with industry revenue expected to fall 3.3%.
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What's included in this industry analysis
IBISWorld's research coverage on the Medical Device Manufacturing industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released December 2025.
About this industry
What's this industry report about?
The Medical Device Manufacturing industry in Canada operates under the NAICS industry code 33451bCA. Medical device manufacturers design, develop, produce and distribute medical devices. These devices encompass a broad range of products, including instruments, apparatuses, implants, software and reagents used to diagnose, prevent, monitor, treat or alleviate diseases or medical conditions. Related terms covered in the Medical Device Manufacturing industry in Canada include electromedical, irradiation devices and magnetic resonance imaging.
What's included in this industry?
Products and services covered in Medical Device Manufacturing industry in Canada include Cardiovascular devices, Surgical devices and Neurosurgical devices.
What companies are included in this industry?
Companies covered in the Medical Device Manufacturing industry in Canada include Medtronic.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Medical Device Manufacturing industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Medical Device Manufacturing industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Medical Device Manufacturing industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Medical Device Manufacturing industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Medical Device Manufacturing industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Medical Device Manufacturing industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Medical Device Manufacturing industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Medical Device Manufacturing industry in Canada.
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Frequently Asked Questions
What is the market size of the Medical Device Manufacturing industry in Canada in 2026?
The market size of the Medical Device Manufacturing industry in Canada is $6.6bn in 2026.
How many businesses are there in the Medical Device Manufacturing industry in Canada in 2025?
There are 772 businesses in the Medical Device Manufacturing industry in Canada, which has declined at a CAGR of 0.4 % between 2020 and 2025.
How may import tariffs affect the Medical Device Manufacturing industry in Canada?
The Medical Device Manufacturing industry in Canada is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Medical Device Manufacturing industry in Canada?
The Medical Device Manufacturing industry in Canada is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Medical Device Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Medical Device Manufacturing industry in Canada has been declining at a CAGR of 1.0 % between 2020 and 2025.
What is the forecast growth of the Medical Device Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Medical Device Manufacturing industry in Canada is expected to grow.
What are the biggest companies in the Medical Device Manufacturing industry in Canada?
The biggest company operating in the Medical Device Manufacturing industry in Canada is Medtronic
What does the Medical Device Manufacturing industry in Canada include?
Production of cardiovascular devices and Production of surgical devices are part of the Medical Device Manufacturing industry in Canada.
Which companies have the highest market share in the Medical Device Manufacturing industry in Canada?
The company holding the most market share in the Medical Device Manufacturing industry in Canada is Medtronic.
How competitive is the Medical Device Manufacturing industry in Canada?
The level of competition is high and increasing in the Medical Device Manufacturing industry in Canada.
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