See below for information on this sector.
Canada, like Denmark has a publically-financed health system that is universally available to all 33M inhabitants, which covers medically necessary services. Unlike Denmark, Canada is heavily regionalized and as such there are essentially 15 healthcare systems (13 provincial/territorial, 1 aboriginal, and 1 veteran health system).
With health sciences being one of the largest portion of Danish exports and Canada’s growing demand for healthcare products and innovations, the Canadian market is a growing opportunity. Notable health sectors in Canada include pharmaceuticals, medical devices, health IT and rehabilitation and long-term care.
Canada boasts one of the top ten largest pharmaceutical sectors in the world holding a 2.5 percent share of the global market. Pharmaceutical spending is shared between the public and private sector and accounts for over 50% of total health spending in Canada. The industry has clusters generally in Vancouver, Montreal and Toronto.
Healthcare providers and payers in Canada are quickly transitioning to increased use of health IT solutions for improved care. Provincial governments in Canada have been moving towards electronic health records (ECRs) over the last decade, with investments in health ICT infrastructure and funding from Canada Health Infoway. Physicians are already using EHRs, mobile applications and other electronic alternatives when providing care. Most Canadian provinces also have telehealth programs for remote patient diagnostics and consultations.
The medical device industry in Canada has taken advantage of tariff free access to the American Market due to the North American Free Trade Agreement (NAFTA). The recent Comprehensive Economic and Trade Agreement (CETA) with soon also provide increased access to European markets. Currently Canada's largest medical device trading partner is the United States. Canada’s medical device industry has an estimated value of $6.4 billion (2012). The Canadian market features production of several device types including diagnostic apparatus and consumables. The sector is adept to research and development with a significant portion of human resources in this industry dedicated to innovation.
Rehabilitation and Long-Term Care:
Like many western countries, seniors in Canada comprise the majority of users of rehabilitation and long-term care services and products. Rehabilitation and long-term care varies by province with services generally privately funded. A co-payment system is instituted in most provinces, with medically necessary care paid for by the province. Notably, there has been a considerable increase in the need and use of long-term care in the last decade including of informal care providers.