According to the Department of Commerce’s International Trade Administration https://www.trade.gov, Canada’s healthcare industry is experiencing increases in demand for technology resulting from the advance of chronic diseases and an aging population in the country.
As Canada shifts the focus towards emerging medical devices, technologies such as robotic surgery, surgical simulation, mobile health, and wearables are expected to experience significant growth.
The Canadian medical device market is sophisticated and mature with a strong demand for high quality medical technologies. Medical device imports account for nearly 75% of the medical device market. The U.S represents the leading supplier of medical devices to Canada, followed by China, Mexico, and Germany.
The Global COVID-19 pandemic created a momentum for expanding virtual healthcare options in Canada. Remote patient monitoring and digital tools for mental healthcare are growing sectors. Healthcare organizations seek multilingual digital health tools tailored to the needs of rural and indigenous communities.
Also, healthcare providers seek solutions to streamline healthcare operations, especially for scheduling and medical billing for virtual care. With the increasing use, transmission, and storage of digital health information, providers need more sophisticated cybersecurity protocols and encryption to protect patient privacy.
Hospitals alone account for an estimated 18.2% of total sales. Other significant buyers include medical professionals such as dentists, eye care, and other professionals in nursing homes and residential care facilities. Private clinics and outpatient facilities are also experiencing a growing demand for medical equipment including devices, instruments, and supplies.
Platforms that integrate with PrescribeIT, Canada’s country wide e-prescription platform, can be an area for growth. Also, partnerships between U.S and Canadian companies are important since health data can’t be stored in servers outside of Canada or sent across the U.S/Canada border.
For further information, contact Commercial Specialist Connie Irrera at Connie.Irrera@trade.gov, or call 514-908-8662 or cell 514-592-7871.