Canada Telemedicine Market By Component (Services & Software, Hardware), By Deployment Mode (Cloud, On-Premises), By Type (Tele-Hospitals, mHealth, and Tele-Homes), By Application (Tele-Psychiatry, General Consultations, Tele-Radiology, Tele-Pathology, and Others), By End User (Patients, Provider, and Payers), By Region, Competition, Forecast and Opportunities, 2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCanada Telemedicine Market By Component (Services & Software, Hardware), By Deployment Mode (Cloud, On-Premises), By Type (Tele-Hospitals, mHealth, and Tele-Homes), By Application (Tele-Psychiatry, General Consultations, Tele-Radiology, Tele-Pathology, and Others), By End User (Patients, Provider, and Payers), By Region, Competition, Forecast and Opportunities, 2028F
Increasing demand for remote healthcare services
The increasing demand for remote healthcare services is a significant driver of the growth of the Canada telemedicine market. As the population in Canada ages and chronic disease continue to rise, there is a growing need for remote healthcare services, especially for those living in rural and remote areas where access to healthcare facilities can be limited. Telemedicine offers a convenient and efficient way for healthcare providers to offer virtual consultations, remote monitoring, and digital diagnosis to patients, regardless of their location. Telemedicine allows healthcare providers to remotely monitor patients' health conditions, reducing the need for in-person visits and hospitalization. Patients can receive medical care without the need to travel long distances or wait for appointments, making healthcare services more accessible and convenient. The COVID-19 pandemic has further accelerated the demand for remote healthcare services in Canada. With physical distancing measures and restrictions on in-person healthcare services, many healthcare providers have turned to telemedicine to provide remote healthcare services to their patients. This has led to increased awareness and acceptance of telemedicine among healthcare providers and patients.
Advancement in technology
Advancements in technology are a significant driver of the growth of the Canada telemedicine market. With the evolution of technology, telemedicine has become more accessible, affordable, and user-friendly, making it easier for healthcare providers to adopt this technology. The development of mobile health applications has made it possible for patients to receive medical advice and treatment through their smartphones. Mobile health applications allow patients to access healthcare services from anywhere at any time, making healthcare more convenient and accessible.
Wearable devices such as smartwatches and fitness trackers can monitor patients' health conditions and transmit data to healthcare providers in real-time. It allows healthcare providers to remotely monitor patients' health conditions and intervene if necessary, improving the efficiency of healthcare delivery. Remote monitoring devices such as blood glucose monitors and blood pressure monitors can provide patients with real-time data on their health conditions. Healthcare providers can use this data to make informed decisions about patients' treatment plans, reducing the need for in-person consultations. Artificial intelligence(AI) technology is being used to develop predictive analytics tools that can help healthcare providers make more accurate diagnosis and treatment decisions. AI can analyze patient data and provide healthcare providers with insights into patients' health conditions, improving the quality of care.
Impact of covid 19 pandemic
The COVID-19 pandemic has had a significant impact on the growth of the Canada telemedicine market. With physical distancing measures and restrictions on in-person healthcare services, telemedicine has become an essential tool for healthcare providers to provide remote healthcare services to their patients. The pandemic accelerated the adoption of telemedicine, creating a significant opportunity for the Canada Telemedicine market to grow. The pandemic has highlighted the need for telemedicine services, especially for those living in remote and underserved areas where access to healthcare facilities can be limited. Telemedicine has made it possible for healthcare providers to provide medical care to patients regardless of their location, improving access to healthcare services.
The pandemic has led to increased awareness and acceptance of telemedicine among healthcare providers and patients. Healthcare providers had to adapt to new ways of delivering healthcare services, and telemedicine has emerged as a viable option for providing remote healthcare services. Patients have become more comfortable with using telemedicine services, realizing the convenience and benefits of receiving healthcare services from the comfort of their homes. The pandemic has led to changes in government policies and regulations to promote the adoption of telemedicine. The government has provided funding to support the adoption of telemedicine, and regulatory barriers to telemedicine have been reduced to facilitate its adoption.
Government support
Government support is a significant driver of the growth of the Canada telemedicine market. The government plays a crucial role in promoting the adoption of telemedicine by providing funding, creating policies, and removing regulatory barriers to telemedicine adoption. The government has provided funding to support the adoption of telemedicine by healthcare providers. For instance, the Canadian government has provided funding to support the deployment of telemedicine technologies in rural and remote areas, enabling patients to access healthcare services remotely. The government has created policies to promote the adoption of telemedicine. For instance, in 2020, the government of Canada announced new policies to expand virtual care services in response to the COVID-19 pandemic. The policies include expanding the list of virtual care services that are covered under the public healthcare system and reducing regulatory barriers to telemedicine adoption. The government has worked to remove regulatory barriers to telemedicine adoption. For instance, the College of Physicians and Surgeons of Ontario has reduced regulatory barriers to telemedicine adoption, allowing healthcare providers to use telemedicine technologies to deliver medical care to their patients.
Cost savings
Cost savings are a significant driver for the growth of the Canada telemedicine market. Telemedicine offers significant cost savings compared to traditional in-person healthcare services. Telemedicine eliminates the need for patients to travel to healthcare facilities, reducing transportation costs. It reduces the need for healthcare providers to invest in expensive medical equipment, infrastructure, and facilities. Telemedicine improves the efficiency of healthcare delivery, reducing the amount of time healthcare providers spend on administrative tasks such as scheduling appointments and managing paperwork. This improves the productivity of healthcare providers, allowing them to see more patients and generate more revenue. Telemedicine reduces the need for hospital admissions and emergency room visits, which are typically more expensive than regular medical appointments. By providing remote medical consultations and monitoring, telemedicine can help prevent medical complications and hospital admissions, reducing healthcare costs. Telemedicine can help improve patient outcomes, reducing the need for additional medical interventions and hospital admissions, which can lead to cost savings.
Recent Development
- Virtual Care Task ForceIn 2020, the Canadian Medical Association (CMA) and the Jouleâ„¢ innovation program launched the Virtual Care Task Force to provide guidance and support for healthcare providers on the implementation of virtual care. The task force aims to accelerate the adoption of virtual care and help healthcare providers optimize its use.
- Ontario Telemedicine NetworkIn 2020, the Ontario Telemedicine Network (OTN) launched the Virtual Care Community Hub, a platform that provides healthcare providers with access to virtual care resources, training, and support. The platform aims to support the delivery of virtual care services in Ontario and improve access to healthcare services for patients.
- In 2020, the Canadian government expanded the coverage of telemedicine services under the public healthcare system to support the delivery of virtual care services during the COVID-19 pandemic. The expansion of coverage includes virtual care services provided by physicians, nurse practitioners, and other healthcare professionals.
- Several partnerships and collaborations have been formed in Canada to promote the adoption of telemedicine. For instance, in 2020, TELUS Health announced a partnership with Babylon, a UK-based telemedicine provider, to launch a virtual care platform for Canadians.
- Tia HealthTia Health is a virtual care platform launched in 2018 that offers medical consultations, prescription refills, and laboratory testing services. The platform can provide access to mental health counselling and nutrition consultations.
- CloudMD CloudMD is a telemedicine platform launched in 2018 that provides virtual care services to patients across Canada. The platform offers virtual appointments with Canadian licensed physicians, as well as a range of specialized services, including mental health counseling and dermatology consultations.
- Akira Akira is a telemedicine platform launched in 2019 that offers medical consultations with Canadian licensed physicians, prescription refills, and laboratory testing services. The platform provides access to mental health counseling and nutrition consultations.
- Medimap Medimap is a telemedicine platform launched in 2019 that allows patients to access real-time wait times for medical clinics across Canada. The platform provides virtual appointment booking services and information on the services offered by medical clinics.
Market Segmentation
Canada Telemedicine Market can be segmented by component, deployment mode, type, application, end user, and region. Based on component, Canada telemedicine market can be divided into services & software and hardware. Based on deployment mode, Canada telemedicine market can be divided into cloud and on-premises. Based on type, Canada telemedicine market can be segmented into tele-hospitals, mhealth, and tele-homes. Based on application, Canada telemedicine market can be segmented into tele-psychiatry, general consultations, tele-radiology, tele-pathology, and others. Based on end user, Canada telemedicine market can be segmented into patients, provider, and payers. Regionally, Canada telemedicine market can be categorized into Ontario, Quebec, Alberta, British Columbia, Saskatchewan and Manitoba, and rest of Canada.
Market Players
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Component · Deployment Mode · Type · Application · End User · Region |
| Regional scope | Ontario region; Quebec region; Alberta region; British Columbia region; Saskatchewan and Manitoba region; Rest of Canada |
| Key companies profiled | LifeWatch Technologies Inc, Honeywell Ltd/Canada., Hoffmann-La Roche Ltd, Cisco Systems Canada Co, McKesson Corp., AMD Telemedicine Inc., Teladoc Health Inc., MDLIVE Inc, Medtronic of Canada Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope
In this report, the Canada Telemedicine market has been segmented into the following categories, in addition to the industry trends which have also been detailed below
- Canada Telemedicine Market, By Component
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- Canada Telemedicine Market, By Deployment Mode
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- Canada Telemedicine Market, By Type
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- Canada Telemedicine Market, By Application
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- Canada Telemedicine Market, By Region
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Competitive Landscape
Company Profiles
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