Life Science (Healthcare Industry)
Life science includes biopharmacy, biochemistry, genetics, cytology, and other disciplines. The current investment focus is on healthcare subdisciplines.
The Canadian healthcare industry represents one of the largest vertical markets. The annual healthcare spending represented over 10% of Canada’s GDP (In 2019, it is 11.2%), with the average spending of $5,000 per person. Therefore, commercial activities in the healthcare industry are favored by the government. Meanwhile, those commercial activities must strictly comply to government regulations and hence external capital can get approved if it meets set standards.
Canada’s medical device import is among the highest in the world. According to the statistics from Government of Canada, the medical device export market increased from $1.8 billion to $3.1 billion between 2011 and 2016, with an estimated increase of 17% during the next five-year period. Also, the sub-divisions of the healthcare industry gain more attention due to the growing aging population.