Helping You Enter the
Lucrative US & Canadian Marketplace
How we introduce your products
into the US and Canadian Markets
"Opportunities for International Companies"
1. Overview Canada/USA
Canada
|
United States
|
|---|---|
| $89.6 billion CDN– pharmaceutical and medical manufacturing | Medical device manufacturing $226 billion Pharmaceutical market $527 billion |
| $2.2 CDN billion in Federal funding for Biomanufacturing and Life Science strategy | Over $32 billion for biological and life sciences |
| 2,000 MedTech Companies 3,000 Pharma Companies (70% subsidiaries) |
6,500 MedTech companies 2,655 pharma companies 368 generic pharma companies |
| Canadian Institutes of Health research invested $1 billion CDN in health research and $250 million in a new clinical trial fund. | Investment total $61,5 Billion, NIH (48.9 billion) |
| Health spending $344 billion 12.1% of GMP Growing 1.5% annually, $8,563 per person | Healthcare spending $4.5 trillion or $13,493 per person., $1.6 Federal Health Programs |
| Controlled by provincial and federal government agencies | Controlled by major insurance companies. They can withhold approval of treatments and therapeutics. |
2. Overview Canada/USA
|
Canada
|
United States
|
|---|---|
| Publicly funded healthcare system. Administered at the provincial and territorial levels, | Predominantly private healthcare system with a mix of public and private providers. Largely marketdriven. Health insurance is often provided through employers or purchased individually. |
| Healthcare costs in Canada are primarily funded through taxation. While there is no direct cost at the point of care for most medical services, Canadians indirectly contribute to the healthcare system through taxes. | The U.S. has one of the highest healthcare spending per capita globally. Costs are distributed among employers, individuals, and the government. The lack of a universal system can result in high out-of-pocket expenses for those without adequate insurance |
| Market Approval is required by Health Canada Medical device approval time average 120 days | FDA Approval time is 90 days for 510K |
The average development cost of a Class II medical device of medium complexity is between $2 and $5 million. Approval costs can be up to $30 million. (dependent on Regulatory requirements)
The average development timing for a Class II medical device includes 20 months of concept and design, 12 months of clinical trials, and 40 months of 501(k) clearance.
An app providing diagnostic information is considered a medical device.
WHO ARE THE MAJOR PLAYERS IN LIFE SCIENCES IN BOTH COUNTRIES (POTENTIAL STRATEGIC PARTNERS)
- CVS Heath Corporation $315.2 billion - drug stores and pharma distribution
- United Health Care $313.1 billion – insurance pharma services
- McKesson Corp $272 billion – pharma services
- AmerisourceBergen Corp $238.6 billion - distributor
- Cardinal Health $187 billion – producer and distribution
- Newcomers and growing Amazon, Google and Apple (investing & and acquisitions)
Major Medical device companies (Medical Device revenues only)
- Abbott $31.27 billion
- Medtronic 31.23 billion
- Johnson and Johnson $ 27.43 Billion
- Seimens $23.43 billion
Depending on the status of your technology, pricing and timelines can be considerably reduced.
We act as your partner and work with your group to clearly identify costs and timelines.
While the awards from a successful launch are substantial this process is lengthy and costly requiring patience and commitment.
We have techniques and methods to optimize your fiscal resources
Final Comments
Joseph Shaw
+1.651.208.9596
[email protected]
Nida Shoubash
+1.952.200.9304
[email protected]