Scientific Research & Development in Canada Industry Market Research Report Now Available from IBISWorld

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Over the next five years, growth is expected to accelerate as corporate profit and sentiment improves and government consumption and expenditure rises. For these reasons, industry research firm IBISWorld has added a report on the Scientific Research & Development industry to its growing industry report collection.

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Investment in research and technology is expected to increase significantly in 2014

The Scientific Research and Development industry includes companies conducting physical, engineering and life sciences research, but does not include private research and development conducted in-house at corporations. However, private enterprises represent the majority of industry clients and funding, which has been anaemic over the five-year period. Corporate budgets contracted dramatically in the wake of the recession and, despite a quick recovery in corporate profit, the private sector remained wary of increasing investment in research and technology for fear of another downturn. At the same time, government funding for research and development remained weak as public expenditure fell due to high spending to stimulate economic growth during the recession.

However, investment in research and technology is expected to increase significantly in 2014 as private enterprises allocate a greater proportion of budgets to product innovation. According to IBISWorld Industry Analyst Jeremy Edwards “The new federal government budget is expected to be a boon for the industry, while the higher-education sector benefits from greater endowments.” Consequently, industry revenue is expected to grow in 2014 and industry profit margins will improve.

“Over the next five years, growth is expected to accelerate as corporate profit and sentiment improves and government consumption and expenditure rises,” says Edwards. Private enterprises are expected to allocate more money towards product development while a number of government initiatives focusing on healthcare, green technologies and defence surge industry revenue forward. This will include money spent on the Sustainable Development Technology Canada program over eight years, promising long-term funding to scientific research in clean technology. As a result, industry revenue is projected to grow over the five years to 2019. Industry profit margins are also expected to rise and encourage new enterprise and employment opportunities.

For more information, visit IBISWorld’s Scientific Research & Development in Canada industry report page.

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IBISWorld industry Report Key Topics
This industry conducts physical, engineering or life sciences research and development (R&D). This industry does not include operators like pharmaceutical or manufacturing companies that may undertake R&D to support operations; government entities are also excluded from this industry.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld
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