The Digital Health Market size in Canada was valued at more than USD 4.77 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of xx% from 2019 to 2028. Provider and patient-centric solutions are dominating Canada’s digital health sector. But this year, the spotlight on a new segment: life science R&D, which has helped drive the development of diagnostics, vaccines, and treatments against the Covid-19 virus. Additionally, factors like demographic changes, waiting time, increasing burden of chronic diseases, outcome-based care, and other pressing industry challenges are compelling the Canadian healthcare system to deliver more with less. Technology adoption and spending trends, including the role of digital technologies in providing care in Canada, innovation in healthcare; driven by start-ups, changes in procurement processes, and evolution of transformative technologies such as analytics, mobility, IoT, remote, 3D, and augmented reality that is changing the Canadian healthcare market. Market Drivers Increasing cases of obesity, high prevalence of chronic diseases such as Diabetes, Cardiovascular, growing need for remote patient monitoring services, and increasing patient engagement and connectivity owing to high adoption of digital health technology are the major factors promoting the market growth. The increasing awareness and growing adoption of advanced technologies like mHealth and telemedicine by the Canadian population are expected to boost digital health platforms. Additionally, many companies are entering into a digital pace focused on providing accessibility, quality, efficient treatment, and cost-effectiveness solution to Canadian patients. Visit https://insights10.com/ for more healthcare industry insights. Connect with us @ info@insights10.com

1. Canada Digital Health
Market
Canada Digital Health Market Analysis including Market Size,
Market Segmented by Technology, End Users, Components
and Key Competitors
(Data forecasts from 2021 – 2028)

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Table of content
1. Methodology and Scope………………………………………………………………………………………………………………………...........……………………04
a. Research Methodology
b. Research Approach
c. Key Benefit for Stakeholders from this report
2. Canada Digital Health Market Analysis: Market Overview...………………….………………………………………………….…………..………………….……08
a. Canada Digital Health Market Analysis (Current and Forecasted)
3. Market Growth Drivers and Restraints………………………………………………………………………………………………………………………..………….10
a. Growth Drivers
i. Rise in geriatric population and increasing chronic diseases
ii. Increasing investments in the digital health segment
iii. Growing adoption of digital health solutions by consumers
b. Growth Restraints
i. Increasing cyber crime regarding the patient data
ii. High capital expenditure
iii. High maintenance requirement
4. Canada Digital Health Market Analysis: Market Segmentation……………………………………..……………………………………………………………….17
a. By Technology
b. By End Users
c. By Components

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Table of content
5. Canada Digital Health Market Analysis : Major Products Market Share………………………………………………………………………………..………….22
a. Key Players Revenue (Current and Forecasted)
6. Competitive Landscape…………………………….....…….……………...………………………………..…………………………………………………………….24
a. Major Players
7. Key Company Profiles…………………………………………………………………………………………………….…………………………………………………26
a. SeamlessMD Company overview, Product & Services, Strategies & Financials
b. MYND Therapeutics Company overview, Product & Services, Strategies & Financials
c. Canadian Health Infoway Company overview, Product & Services, Strategies & Financials
d. Cogniciti Company overview, Product & Services, Strategies & Financials
e. Cohesic Company overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape...………………………………………………………………………………………………….………………….37
a. Policy changes and Reimbursement scenario
9. Future Development Growth………………………….….…………………………………………………………………….……….………………………………….39
a. Future Opportunity
10.Conclusion………………………………………………….….………………………………………………………..…………………………………………………….41

4. Methodology and Scope

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Methodology and Scope
Research Methodology
 Insights 10’s research methodology delves deep into the market, covering the macro and micro aspects of the industry. We identify the key growth drivers,
opportunities, and restraints that might promote or hinder the future industry growth along with an expansive overview of the competitive landscape to help our
clients make informed strategic decisions
 We implement a mix of primary and secondary research for our market estimate and forecast. The secondary research forms the initial phase of our study
where we conducted extensive data mining, referring to verified data sources such as independent studies, government and regulatory published material,
technical journals, trade magazines, and paid data sources
 For forecasting, the following parameters were considered:
 Market drivers and restraints along with their current and expected impacts
 Technological scenario and expected developments
 End use industry trends and dynamics
 Trends in the consumer behavior
 Regulatory scenario and expected developments
 Current capacity and expected capacity additions up to 2028
 We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth
rate
 We appoint data triangulation strategies to explore different areas of the market. Our qualitative and quantitative assessments are time-sensitive, reflecting the
most recent value and volume of the market across regions
 All our estimates and forecasts were verified through exhaustive primary research with the Key Industry Participants (KIPs)

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• The information gathered is then analyzed and synthesized. The
market research report is presented in different forms such as charts
by using a scientific approach for easy understanding
• Market Trends such as Drivers, Restraints, Opportunities,
Challenges. An intensive cross-verification and validation process
• Company Reports and Publications, Government Data, Financial
Reports of Key Industry Players, Press Releases, Scientific and
Industry Publications and Whitepapers
Methodology and Scope (continued)
Analysis Methodology
The data presented is comprehensive, reliable, and the result of extensive research, both primary and secondary
Data Collection
• Primary Interviews
• Secondary Data
Market Data Analysis &
Statistical Model
• Market Trends
• Market Sizing and Analysis
• Data Triangulation & Validation
Interpretation and
Presentation
• Analysis & Interpretation
• Insights
• Presentation & Reporting

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Methodology and Scope (continued)
The study provides an in-depth analysis of the Canada digital health market with current trends and future estimations to
elucidate the imminent investment pockets
Key Benefit for Stakeholders from this report
Our tools provides stakeholders with a cohesive understanding of the industry outlook, considering the qualitative and
quantitative industry variables
Comprehensive analysis of factors that drive and restrict the market growth is provided
Comprehensive quantitative analysis of the industry from 2021 to 2028 is provided to enable the stakeholders to capitalize on
the prevailing market opportunities
Extensive analysis of the key segments of the industry helps understand the applications and technologies used globally
Our rigorous data collection, thorough statistical analysis and specialist assessments ensure that our clientele has a greater
understanding of the industry space, supply chain, price fluctuations, competitive landscape, and other vital factors

8. Canada Digital Health Market Analysis: Market
Overview

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Canada Digital Health Market Analysis (Current and Forecasted)
Canada Digital Health Market Analysis (Bn) 2020-2028F
 The Digital Health Market size in Canada was valued at
more than $XX Bn in 2020 and is expected to expand at a
compound annual growth rate (CAGR) of xx% from 2020 to
2028
 Provider and patient-centric solutions are dominating
Canada’s digital health sector. Life science R&D has helped
drive the development of diagnostics, vaccines, and
treatments against the COVID-19 virus
 Increasing cases of obesity, high prevalence of chronic
diseases such as Diabetes, Cardiovascular, growing need
for remote patient monitoring services, and increasing
patient engagement and connectivity owing to high adoption
of digital health technology are the major factors promoting
the market growth
 Many companies are entering into a digital pace focused on
providing accessibility, quality, efficient treatment, and cost-
effectiveness solution to Canadian patients
Key Analysis
$XX Bn

10. Canada Digital Health Market Analysis : Growth
Drivers And Growth Restraints

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Market Growth Drivers And Restraints
Rise in geriatric
population and
increasing chronic
diseases
Increasing investments
in the digital health
segment
Impact
Market
Drivers
Increasing cyber crime
regarding the patient data
High capital
expenditure
Market
Restraints
Impact
Impact
High maintenance
requirement
Growing adoption of
digital health solutions
by consumers

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Market Growth Drivers
1. Rise in geriatric population and increasing chronic diseases
73 % of individuals aged 65+ years have at least 1 of 10 chronic disease. Geriatric population in Canada are a rapidly growing segment of the
population. By 2030, geriatric population will be over 9.5 Mn and contribute to 23 % of Canadians
Development of a smart remote patient monitoring system for the elderly has potential advantages, including early intervention practices,
reduced relapse rates, less waiting times in hospitals and reduction in costs & convenience
Sample

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Market Growth Drivers (continued)
Digital health investments are rapidly plummeting in Canada with funding raised up to $ 24.1 Mn. The top six trends targeted by investors
include analytics and big data companies, followed by digital medical devices, consumer engagement, payer administration, population health
management and telemedicine
2. Increasing investments in the digital health segment
Sample
Sample

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Market Growth Drivers (continued)
According to a Canadian study, the patients enjoy the convenience and time savings (e.g. less time spent in waiting rooms) associated with
digital health services. 72 % Canadians reported that they received medical advice from a PCP using telephone
Convenience and time saving features offered by these solutions is driving the interest & adoption of Canadians towards digital health products
3. Growing adoption of digital health solutions by consumers
Sample

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Increasing cyber crime regarding the patient
data
High capital expenditure requirement
Market Restraints
 Growing security concerns regarding the patient
data is the major restraining factor which
expected to hinder the growth of digital health
market
 As health records often contain highly valuable
information, cybercriminals can be used for
health insurance fraud, illegal surveillance,
blackmail, and range of other nefarious
purposes
 Cost of installation and software is costly, and
the services related to technology are
expensive
 Lot of the population is still below the poverty
line, and they do not have access to smart
devices

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High maintenance requirement
Market Restraints
Sample

17. Canada Digital Health Market Analysis : Market
Segmentation

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Canada Digital Health Market Segmentation
By Technology
Canada Digital Health Market Segmentation
By Components
Tele-Healthcare
mHealth
Health Analytics
Software
Hardware
Services
Digital Health Systems
By End Users
Healthcare Providers
Healthcare Payers
Pharmaceutical Companies
Individuals

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Market Segmentation: By Technology
Canada Digital Health Market Share by Technology 2020
 According to an estimate, more than 25% adoption was
observed in Tele-Healthcare followed by mHealth in
Canada
 The Canadian federal government has budgeted $13.4 Mn
in late 2020 to fund three Toronto-based companies and an
innovation hub to support digital health treatments,
including telehealth services
Key Insights

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Market Segmentation: By End Users
Canada Digital Health Market Share by End Users 2020
 The Healthcare provider market is the oldest and most
mature digital health segment. Pharmaceutical Companies
are playing a major role in digital health transformation in
Canada
 Recently Novartis has launched a new digital health
innovation hub in Canada to help scale digital solutions for
healthcare workers and patients, the hub acts as an
artificial intelligence research institute creating digital
formulary for mental health apps
Key Insights

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Market Segmentation: By Components
Canada Digital Health Market Share by Components 2020
 The digital health Market includes software applications as
well as integrated hardware and software systems that
utilize platforms, such as computers, smartphones, and
wearables
Key Insights
Sample

22. Canada Digital Health Market Analysis : Major
Products Market Share

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Market Analysis, Insights and Forecast- By Major Products
Key Insights
Canada Digital Health for Major Products
Sample

24. Canada Digital Health Market Analysis :
Competitive Landscape

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Competitive Landscape: Key Players Revenue (Current and Forecasted)
2021 2022F 2023F 2024F 2025F 2026F 2027F 2028F
SeamlessMD XX - - - - - - -
MYND Therapeutics XX - - - - - - -
Canadian Health Infoway XX - - - - - - -
Cogniciti XX - - - - - - -
Cohesic XX - - - - - - -
Major Market Revenue of Canada Digital Health Market ($Bn)

26. Key Company Profiles

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SeamlessMD
Company Profile
 The company enables hospitals and health systems to
engage, monitor and stay connected with patients across
healthcare journeys
 Some of the company’s leading platforms are EHR
Integration, Multi-center Collaboratives Out-of-the-Box,
Digital Care Plans etc
Year of Establishment: 2012
Revenue: <$5 Mn
Website: https://seamless.md/
Company Name: SeamlessMD
Headquarter: Toronto, Canada

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SeamlessMD (continued)
Breakdown of net revenue by segment, 2021
0.43
Analysis
Revenues ($Bn), 2020-2028
Sample

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Sample
Company Name: MYND Therapeutics
Year of Establishment: 2017
Headquarter: Vancouver, BC
Revenue: XX
Website: https://www.myndtx.com/
Company Profile
MYND Therapeutics

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Breakdown of net revenue (%) by segment, 2021
Analysis
Sample
Revenues ($Bn), 2020-2028
MYND Therapeutics (continued)

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Sample
Company Name: Canadian Health Infoway
Year of Establishment: 2001
Headquarter: Toronto
Revenue: $95 Mn
Website: www.cohesic.com
Company Profile
Canadian Health Infoway

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Breakdown of net revenue (%) by segment, 2021
Analysis
Sample
Revenues ($Bn), 2020-2028
Canadian Health Infoway (continued)

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Sample
Company Name: Cogniciti
Year of Establishment: 2010
Headquarter: Toronto, Ontario, Canada
Revenue: $0.95 Mn
Website: https://cogniciti.com/
Company Profile
Cogniciti

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Breakdown of net revenue (%) by segment, 2021
Analysis
Sample
Revenues ($Bn), 2020-2028
Cogniciti (continued)

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Sample
Company Name: Cohesic
Year of Establishment: 2014
Headquarter: Calgiri, Canada
Revenue: $2.42 Mn
Website: https://cohesic.com/
Company Profile
Cohesic

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Breakdown of net revenue (%) by segment, 2021
Analysis
Sample
Revenues ($Bn), 2020-2028
Cohesic (continued)

37. Healthcare Policy and Regulatory Landscape

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Policy Changes and Reimbursement Scenario in Canada Digital Health
Market
 An independent not-for-profit organization funded by the federal government, was established in 2001 with a mandate to lead the
national IT efforts
 Since its inception, CHI received $2.45 Bn in federal funding and played an active and important role as a strategic investor in health
IT projects across provinces and territories, which contributed to improved digital connectivity
 As the federal regulator of medical devices, Health Canada is supporting the market emergence of current and future medical
devices using a digital health technology in order to meet the growing demand from patients, health care systems and industry
Sample

39. Future Development Growth

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Future Opportunities
There is a need for standardization, regulation, and clear policy to ensure sustainable, high quality virtual care that complements
in-person care. The Canadian government can play an important role in advancing the digital health agenda through incentives
and policies that can catalyze national changes to address the digital divide and current gaps
Digital technologies like big health data will enable the application of artificial intelligence (AI) and machine learning (ML) in the
health sector, which is expected to grow in future in Canada
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41. Conclusion

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Conclusion
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