Canada’s medical device industry is mainly an export oriented industry and contributes 1.8% of the global medical device market. Canada made exports worth of $ 4.4 Billion medical devices in the year of 2020 which increased from $3.2 Billion from 2015. This obviously shows that Canada's medical device industry’s future is bright. The industry is expected to grow at a CAGR of 5.4% from 2021 to 2028. The Canadian government showed and offered great support to the research programs to develop innovative medical devices through federal funding and tax incentive programs. Ontario, Quebec, British Columbia and Alberta provinces have the majority of medical device manufacturing establishments.
New avenues are opening up for the medical device companies and startups in Canada as the industry is expected to grow at a very decent level and government as well as private support are offered to medical device startups in Canada.
How investment casting solutions from Austin could play a very important role to enhance the growth in the market for the companies.
Austin Alloy Cast, a leading investment casting foundry manufactures and exports medical devices in North America and European countries. As Austin Alloy Cast understands the stringent requirements of the industry concerning the product quality, surface and hygiene, medical device companies in Canada have never had to worry about it. Austin Alloy Cast has a well-established manufacturing set-up back in India and a huge logistic network to deliver the cast pieces on time. The medical device market which has huge demand for hospital furniture, Orthopaedic, Oncology and prosthetic devices are casted at the foundry of Austin Alloy Cast. Not only metal casting of the medical devices but also post processing, machining, value added services and packaging are done as per the requirement of industry standards.
When there’s requirement of casting medical devices like briquetting rolls, bushings, valve trims, grinding plates, wear components, mixing blades, tubing and piping, and other such devices, Austin Alloy Cast can be the trusted investment casting company to deliver you them on short turn-around time. Austin Alloy Cast also offers technical consultation if you are starting a new project.
Book an appointment to schedule an online meeting by sending an email given below or browse the official website for more details.
Source:
https://www.tbdc.com/the-future-of-health-tech-and-medical-devices/