As per the Canadian Institute of Health Information, the total healthcare expenditure in 2021 was projected to be $308 billion or $8,019 per person of which 75% would be from public funding and 25% through private insurance or out-of-pocket. In alternate reports, Health Canada had previously estimated the medical devices market in 2020 to be approximately US$7.5 billion (approx. C$ 10 billion). The key device categories noted were diagnostic imaging (21%), consumables (15%), patient aids (16%), orthopedics and prosthetics (10%), dental products (8%), and wheelchairs and other equipment (28%).
Also, as per Stats Canada, the export market for medical devices was valued at $2.2billion in 2021. Part of this came through high end research and world class medical devices, designed, and sold by manufacturers directly to the end user or alternatively promoted under private labels.
SigmaCan has solid knowledge of the healthcare industry and can support your company to expand its business and promote your devices across Canada. Manufacturers will be able to work directly with our experienced team and make inroads into the provinces, various service providers, and private payors. SigmaCan is also uniquely positioned to establish joint ventures and partnerships with prominent manufacturers and industry specialists. Further, SigmaCan can assist in sourcing innovative medical devices and facilitate in the design and development of devices from concept to market.