Canada Patient Engagement Solutions Market Analysis

Canada Patient Engagement Solutions Market Executive Summary

The Canada patient engagement solutions market is projected to grow from $1.36 Bn in 2022 to $3.42 Bn by 2030, registering a CAGR of 12.2% during the forecast period of 2022 - 2030. In 2019, the national healthcare expenditure in Canada risen, from 10.81% of the GDP to 10.84%. Medical costs are highest for seniors. Despite the fact that per-person spending rose considerably with age, from $6,656 for those aged 65 to 69 to $20,793 for those aged 80 and older, population ageing is only a tiny driver of increased health care costs, contributing only around 1% yearly. Health spending in Canada is generally increasing as a share of GDP.

Solutions for improving patient engagement emphasised collaboration between patients and healthcare professionals. Improved health outcomes are a result of a patient's higher level of participation in their care. The Canadian healthcare system has actively incorporated patient interaction since the turn of the millennium. Patient advice, patient partnership, and patient-focused research are among the most significant elements of patient participation in Canadian medical culture.

Market Dynamics

Market Growth Drivers

The advantages of patient engagement solutions for enhancing patient outcomes and lowering healthcare costs are becoming more and more apparent to Canadian healthcare professionals. For instance, several hospitals and clinics have put in place virtual care initiatives that use telemedicine and other patient interaction tools to treat patients in remote or underserved locations. To encourage the creation and implementation of patient engagement solutions, the Canadian government has also launched a number of digital health initiatives. For instance, money is available to assist the adoption of digital health technologies, such as patient engagement tools, through the Canada Health Infoway Innovation Fund. This grant is anticipated to promote patient involvement in solutions innovation and uptake in Canada.

Market Restraints

As a result of several provinces and territories having their own healthcare policies, programs, and laws, the Canadian healthcare system is highly fragmented. Because of this, it may be difficult for suppliers of patient engagement solutions to create and implement programs that can be applied all across the nation. Additionally, patient engagement strategies call for the gathering and exchange of private health data, which may cause patients and healthcare professionals to express concerns about privacy and security. It can be difficult for suppliers of patient engagement solutions to create solutions that are consistent with these standards and limit market expansion because the Canadian government has strong regulations and guidelines for the protection of health information.

Competitive Landscape

Key Players

• Telus Health (CAN)
• WELL Health Technologies (CAN)
• NexJ Health (CAN)
• SeamlessMD (CAN)
• QoC Health (CAN)

Notable Deals

September 2021: Telus has completed the acquisition of LifeWorks for $1.71 Bn, charting a new direction for employer-focused healthcare. Telus Health now covers corporate clients in more than 160 countries and 50 million lives globally as a result of this acquisition, which increases its global footprint.

October 2022: WELL Health is purchasing CloudMD's Cloud Practice business, which includes three primary care clinics in British Columbia as well as OSCAR1-based Juno EMR or "Electronic Medical Record" and ClinicAid invoicing Software products.

Healthcare Policies and Regulatory Landscape

The Personal Information Protection and Electronic Documents Act (PIPEDA), which governs the gathering, use, and disclosure of personal information in the private sector, is one of the most significant pieces of legislation governing the usage of patient engagement technologies. There are particular provincial and territorial laws that apply to patient engagement solutions in addition to PIPEDA.

A government-funded institution called Canada Health Infoway is in charge of quickening the creation and uptake of digital health solutions in Canada. For the interoperability of health information systems, especially those pertaining to patient engagement solutions, Infoway has created a number of standards and specifications.

The Canadian government has recently implemented policies to encourage the use of patient interaction tools. For instance, the Canada Health Act mandates that all Canadians have access to hospital and physician services that are strictly necessary for their health. In order to enhance access to care and save healthcare costs, the government has invested in digital health solutions, such as patient engagement systems.

Reimbursement Scenario

The provinces and territories in Canada may have different patient engagement solution reimbursement policies. Generally speaking, patient engagement solutions are not directly reimbursed by public healthcare insurance plans. Certain patient engagement solutions might, however, be covered by some private insurance policies.

The Canadian government has established a number of financing schemes to encourage the creation and uptake of digital health solutions. For instance, the Digital Health Investment Review (DHIR) offers funding to Canadian businesses creating patient engagement solutions as part of their digital health product development. The Canada Health Infoway Innovation Fund was also formed by the Canadian government, and it offers financing to assist the adoption of patient engagement solutions as well as other digital health solutions.