Canada Therapeutic Device Market Overview, 2028

The healthcare sector in Canada is characterised by an expanding and dynamic therapeutic device market. This market is essential to enhancing Canadians access to healthcare since it prioritises innovation, patient care, and technical developments. Canada's therapeutic device market is driven by innovation. Innovation in technology is encouraged by the nation's significant focus on research and development. Employing developments in biotechnology, robotics, nanotechnology, artificial intelligence, and nanotechnology, Canadian businesses and research institutes are leaders in the development of innovative medicinal devices. Patient-centered care is given top priority in Canada, which has an impact on the creation of therapeutic devices meant to improve patient outcomes and quality of life. In order to promote equity in the delivery of healthcare, it is still important that new medical technologies be accessible across the nation's different areas. The therapeutic device industry's research and development are aided by government funding and efforts. New gadget and technology development is aided by initiatives like the Strategic Innovation Fund and partnerships with educational establishments. Under the direction of Health Canada, Canada upholds a strict yet developing regulatory framework to guarantee the efficacy, safety, and calibre of medicinal devices. In order to promote customer confidence in the goods on the market, the Medical Devices Regulations (MDR) controls the approval process, production requirements, and marketing of medical devices in the nation. According to the research report "Canada Therapeutic Device Market Research Reports," published by Actual Research, the Canada Therapeutic Device market is projected to reach market size of more than USD 5 Billion by 2028. Medical isotopes are employed in many therapeutic and diagnostic processes, such as cancer treatment and nuclear medicine imaging. Leading isotope producers in the world, like MDS Nordion and Canadian Nuclear Laboratories, are based in Canada. In the field of regenerative medicine, damaged tissues and organs are repaired or replaced using stem cells and other methods. Many of the world's top centres for regenerative medicine research are located in Canada, including the Montreal Neurological Institute and the University of Toronto's Centre for Regenerative Medicine. The Medical Devices Sector Strategy and the Strategic Innovation Fund are two of the many programmes the government has put in place to promote investment and innovation. Canada's population keeps growing older. As a sizable section of the population is aged, age-related health problems are more common, which fuels the need for therapeutic devices that address ailments including arthritis, cardiovascular disorders, and mobility-related difficulties. Canadian businesses regularly participate in international trade agreements and cooperation, which promote the sharing of medicinal devices, knowledge, and skills. The market's growth and exposure to cutting-edge technology are boosted by this worldwide engagement. Therapeutic devices are among the many new technologies that Canadians are ready to embrace. Modern medical gadget usage and market growth are fueled by the population's openness to innovation and technical advancements.

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In terms of product market is segmented into insulin delivery devices, dialysis equipments, IV equipments, wound care management, and others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids). Insulin delivery devices is playing crucial role in development of Canada therapeutic device market. A notable rise in diabetes cases has been observed in Canada. Demand for efficient and user-friendly insulin administration systems rises in tandem with the ongoing rise in the prevalence of diabetes. Handling diabetes, which necessitates frequent insulin injections, requires these gadgets. Diabetes care has been revolutionised by ongoing innovation in insulin delivery devices. To improve the quality of life for those with diabetes, modern gadgets offer increased accuracy, convenience of use, and better adherence to treatment plans. An active supporter of diabetes management strategies is the Canadian government and healthcare organisations. In order to enhance patient outcomes, this involves funding novel insulin delivery systems, providing financial assistance for diabetes treatment, and encouraging the use of cutting-edge medical equipment. Insulin delivery devices are part of a broader approach to diabetes care. Their development and integration into comprehensive care plans demonstrate a commitment to holistic management strategies aimed at improving overall health outcomes for individuals with diabetes. Based on end user segment market includes hospitals and clinics, home care settings, ambulatory care centers (ACCs) and other end user. Home care settings end user segment is expected to grow at significant pace in Canada therapeutic device market. Canada's population is getting ageing. Chronic illnesses like diabetes, heart disease, and respiratory disorders are more common in older adults. As they enable senior citizens to receive care in the comfort of their own homes, home care settings are becoming more and more popular. Patients and their families are increasingly choosing home-based care because of its affordability, familiarity, comfort, and lower risk of hospital-acquired infections. The need for therapeutic equipment made for home care environments is driven by this inclination. Home-based care is being emphasised by the Canadian government more and more as a patient-centred, affordable solution. In addition to promoting the use of therapeutic gadgets that enable effective treatment outside of conventional healthcare institutions, policies and financing initiatives support the shift towards home care. The indication type of market includes wound care, diabetes, respiratory diseases, cardiovascular disorders & hypertension, cancer, pregnancy, hearing disorders, movement disorders and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV). Diabetes is one of the major indication for therapeutic device in Canada. Diabetes is becoming more common in Canada as more people receive diagnoses for the illness. Diabetes cases, both type 1 and type 2, are increasing, making a wide range of treatment devices necessary for the proper management of this chronic condition. Blood glucose testing must be done continuously, insulin must be administered precisely, and lifestyle changes must be made. In order to make these management chores easier to complete and more accurate, therapeutic gadgets are essential. Considered in this report: • Geography: Canada • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report: • Canada Therapeutic Device market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product: • Insulin Delivery Devices • Dialysis Equipments • IV Equipments • Wound Care Management • Others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids) By End User: • Hospitals and Clinics • Home Care Settings • Ambulatory Care Centers (ACCs) • Other End User

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By Indication: • Wound Care • Diabetes • Respiratory Diseases • Cardiovascular Disorders & Hypertension • Cancer • Pregnancy • Hearing Disorders • Movement Disorders • Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.