AI and Data Driven Solutions in Digital Health, Life Sciences and Precision Medicine
Highlights
Canadaʼs digital health industry was valued at around Can$233 billion in 2020. The branded and generic drugs industry is set to grow to Can$1.5 trillion by 2021, and the precision medicine industry is predicted to reach Can$88 billion by 2023.
The broader healthcare industry accounts for roughly 11% of Canadian GDP. Forecasted growth is driven in large part by joint government, academic, and industry strategic initiatives to advance artificial intelligence, smart medical devices, robotics, and big data solutions.
Canadaʼs artificial intelligence (AI) ecosystem is supported by the Pan-Canadian AI Strategy (Can$125 million) and includes more than 600 AI researchers, including world world leaders in their fields: Geoff Hinton, Yoshua Bengio, Richard S Sutton. The strategy is further backed by leading AI institutions across Canada: the Montréal Institute for Learning Algorithms (MILA), the Vector Institute in Toronto, and the Alberta Machine Intelligence Institute (AMII).
According to KPMG, Canada ranks third in the world for quality and influence of stem cell and regenerative medicine research, fourth for highly cited metabolic disorder publications, sixth for highly cited oncology publications, sixth for clinical trial quality, expertise and ability to conduct complex studies. Recent indications of the level of development of the digital health industry include:
Free Telehealth service provided by Alberta Health Services using video-conference technology for healthcare provision
Toronto-based company BEACON pioneering a clinically proven cognitive behavioural therapy (CBT) via the internet
Montréal-based firm Hexoskin producing a first smart shirt that captures cardiac, respiratory and activity body metrics in collaboration with the Canadian Space Agency
In 2019, the federal and Québec governments announced the creation of a Montréal-based international centre of expertise for the advancement of artificial intelligence as part of its commitment to Global Partnership on AI (GPAI). Navdeep Bains, the Minister of Innovation, Science and Economic Development recognised the Montréal healthcare ecosystem as a leader in AI. In 2018, the University of Montréal Health Centre (known as CHUM) and the University of Montréal launching a school of AI in medicine to support the health system in the adoption, implementation and promotion of AI, which has results in 80 projects by CHUM doctors and researchers.
Meanwhile, Ontario provides a test-bed for medical technologies and strategic partnerships spending Can$665 million on research and development in the life sciences sector alone, and has about 8,750 R&D personnel. Here medtech companies gain access to:
A Can$52 billion single-payer healthcare system
A population of 14 million in Ontario alone, and a border that stretches nearly halfway across the U.S with an additional 142 million people living within a dayʼs drive.
World-renowned innovators and researchers in AI, quantum research, the internet of things (IoT), and blockchain