Wade is out with a shoulder injury. The other Miami players missing in action are Chris Andersen (knee), Luol Deng (eye), Goran Dragic (calf), Josh McRoberts (knee) and Hassan Whiteside (oblique).
Guard Beno Udrih is questionable with a neck injury and will be a game-time decision.
Wade, Dragic, Whiteside and Deng are all starters. Miami may have just eight or nine players available for the game.
The Heat (23-20) have lost three straight and six of their last seven. Toronto (27-15) is riding a six-game win streak.
Still, Raptors coach Dwane Casey said his squad cannot take Miami lightly.
"That team over there is a championship team," he said Friday morning. "We haven't won anything. We haven't won a championship. They've won two.
"That should be enough right there," he added. "They're a prideful team even though they're riddled with injury. There's a lot of pride in that locker room and if we don't come out and respect that pride, respect that championship mentality that they have, it could be a tough night for us."