Canada Telemedicine Market Analysis Report 2022 to 2030

Canada Telemedicine Market Analysis

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The Canada Telemedicine market was valued at $4.864 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 18.2% from 2022 to 2030 and will reach $18.532 Bn in 2030. One of the main reasons propelling the growth of this market is the advent of advanced technologies, rising cases of chronic and lifestyle related disease. The market is segmented by end user, product type and Delivery mode. Some key players in this market are Cerner Corporation, GE Healthcare, Physiotherapy Ltd etc.

ID: IN10CADH010 CATEGORY: Digital Health GEOGRAPHY: Canada AUTHOR: Nandini Shah

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Canada Telemedicine Market Executive Summary

The Canada telemedicine market was valued at $4.864 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 18.2% from 2022 to 2030 and will reach $18.532 Bn in 2030. Telehealth is valuable to those with mobility issues, and those in rural areas, where healthcare is less accessible. Some contributing factors to a larger demand for telehealth in Canada might be a result of the increase in housing prices in urban areas, which have forced many to move into rural areas of the country.

The Ontario Telemedicine Network reports that more than 1 Mn clinical video events took place in 2018-19,17 but relative to the total volume of service the percentage would not be dramatically greater. According to the Canadian Attitudes on Healthcare and Telemedicine Report, 70% of Canadians believe virtual care represents the future. The research was sponsored by Canadian virtual healthcare leader Dialogue and conducted by Environics Research to understand Canadians' attitudes toward healthcare and telemedicine.

canada telemedicine market analysis

Market Dynamics

Market Growth Drivers Analysis

Rising use of smartphones and the upcoming various mobile platforms. 86% of Canadians have a smartphone and that has changed expectations of when and where one can access personal information. Telehome systems can be used to track and support patients with a variety of respiratory and chronic conditions that can be treated without the need for hospital visits. Rising Chronic diseases and conditions are the leading cause of death and disability in Ontario. 25% of Canadian adults suffer from hypertension and 11% suffer from diabetes. Total health spending in Canada was $186.2 Bn in 2022, with $8563 per Canadian. The average Canadian household spends $2,000 on healthcare costs and $4,000 on private insurance premiums. The population of Canada above 65 plus stands at 7.3 Mn in 2022. By 2030, the 65+ population will cross 9.5 million and will make up 23% of Canadians. Regulatory agencies, such as the U.S. Food and Drug Administration (FDA), are extensively approving digital health platforms and services in order to increase patient access and competition in the marketplace.

Market Restraints

Non-eligible or non-listed healthcare providers may conduct incorrect coding and bill for false claims, or they might use physicians’ names and account to collect payments from insurance companies. Many consumers do not share confidential health details due to security and trust issues.

Each region has different rules and regulations about the types of services that can be reimbursed by Medicaid. Many states place restrictions on reimbursable “originating sites,” which refer to the location of the patients at the time of receiving the telehealth services which affect the access to telehealth for rural populations

Competitive Landscape

Key Players

Cerner Corporation
GE Healthcare
Action First
Physiotherapy Ltd
Honeywell International Inc
iTelemed

Healthcare Policies and Regulatory Landscape

Telemedicine is used in every province in Canada; however, the restrictions vary by province. The Federation of Medical Regulatory Authorities of Canada (FMRAC) aids in establishing policies and procedures across Canada. Each province has its own telemedicine licensing, insurance coverage, and fee policies. All provinces have adopted teleconsultation through video/audio, however, the use of remote monitoring technologies has been seen only in four provinces (Quebec, Ontario, New Brunswick, and Manitoba).

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Canada Telemedicine Market Segmentation

By Product and Services

The hardware segment is the largest component in Canada. Telemedicine market Hardware segment is divided into Health IT, connectivity/infrastructure, Medical devices (for remote patient monitoring), and others (Kits and telemedicine carts). Tele-monitoring is expected to hold the largest market share by 2030 due to increasing demand for remote patient monitoring devices.

Hardware
Software
Tele-Consulting
Tele-monitoring
Tele-education/ training

By End User

The market for the tele home segment is estimated to be worth USD 4.19Bn by 2029. Tele home segment has proven potential for the growth of the telemedicine market.

Tele Hospital
Telehome

By Delivery Mode

Web
Mobile
Call centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.