Canada Digital Health Market Insights Forecasts to 2033

• The Canada Digital Health Market Size was valued at USD 19.5 Billion in 2023.
• The Market is growing at a CAGR of 18.50% from 2023 to 2033
• The Canada Digital Health Market Size is expected to reach USD 106.5 Billion by 2033

The Canada Digital Health Market is anticipated to exceed USD 106.5 Billion by 2033, growing at a CAGR of 18.50% from 2023 to 2033. The increasing usage of smartphones, improved internet connectivity, and the need for curbing healthcare costs are driving the growth of the digital health market in the Canada.     

Market Overview

Digital health refers to the use of digital technologies in healthcare that are used to identify health risks for people, diagnose diseases, treat ailments, and ultimately improve wellness and quality of life. It includes a range of technology such as mobile health (mHealth) apps, electronic health records (EHRs), electronic medical records (EMRs), wearable devices, telehealth & telemedicine, and personalized medicine. By integrating hardware, software, networking, and sensors into healthcare delivery systems, digital health enables the digital transformation of healthcare. There is increasing focus on the incorporation of technological advancements and innovation in digital health that are saving time and improving accuracy. For instance, the Internet of Medical Things (IoMT) is facilitating telemedicine, smart sensors, and enhanced patient-doctor communication that has a significant role in virtual healthcare.

Report Coverage

This research report categorizes the market for the Canada digital health market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada digital health market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada digital health market.

Driving Factors

The increasing usage of mHealth which refers to the use of cell phone technology to deliver health care is driving the digital health market. The increasing access to high-speed connectivity is contributing to driving the digital health market growth. Further, the growing emphasis on reducing the cost of hospitals and healthcare systems is propelling market demand for digital health.

Restraining Factors

The high implementation cost of digital health technologies for small and medium-sized hospitals is challenging the Canada digital health market.

Market Segmentation

The Canada Digital Health Market share is classified into technology, offering, and end user.

• The tele-healthcare segment dominated the market with the largest market share in 2023.

The Canada digital health market is segmented by technology into wearables, mHealth, tele-healthcare, RPM, LTC monitoring, population health management, and DTx. Among these, the tele-healthcare segment dominated the market with the largest market share in 2023. Telehealth refers to the use of electronic information and telecommunication technologies to support long-distance clinical healthcare, patient & professional health-related education, health administration, and public health. The rising adoption of digital health and telehealth is driving the market.

• The software segment accounted for the largest market share during the forecast period.

The Canada digital health market is segmented by offering into software, services, apps, and hardware. Among these, the software segment accounted for the largest market share during the forecast period. Various digital health software include electronic health record (EHR), medical database software, medical research software, medical diagnosis software, medical imaging software, e-prescribing software, and many more. The flexibility, cost-effectiveness, ease of use, and innovation in digital health software for easy updates, lower costs, and improved healthcare delivery are driving the market.

• The patients & consumers segment is anticipated to grow at the fastest CAGR during the forecast period.        

Based on the end user, the Canada digital health market is divided into provider, hospitals & clinics, long term facilities &  assisted living, patients & consumers, and others. Among these, the patients & consumers segment is anticipated to grow at the fastest CAGR during the forecast period. The increasing accessibility and convenience of healthcare owing to the awareness of self-health management and the proliferation of smartphones & mHealth devices are driving the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada digital health market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• MEDITECH
• Oracle Cerner Corporation
• Mckesson Corporation
• apple Inc
• Allscripts Technologies LP
• AT&T
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2023, Sun Life Canada acquired Dialogue Health Technologies and would pay company shareholders $5.15 in cash per common share.

• In June 2022, Canadian telco Telus agreed to acquire digital and in-person healthcare provider LifeWorks for C$2.3bn (US$1.77bn) to boost its position in the employer-based healthcare services sector.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Digital Health Market based on the below-mentioned segments:

Canada Digital Health Market, By Technology

• Wearables
• mHealth
• Tele-Healthcare
• RPM
• LTC Monitoring
• Population Health Management
• DTx

Canada Digital Health Market, By Offering

• Software
• Services
• Apps
• Hardware

Canada Digital Health Market, By End User

• Provider
• Hospitals & Clinics
• Long Term Facilities & Assisted Living
• Patients & Consumers
• Others