Before you write off the card as broken, I'd first check whether something's wrong with the card slot itself. Dirt, a broken cable, or bent contacts are more often the problem than you'd think. Grab a flashlight, look into the slot, and see if the gold contacts look damaged or dirty. If they do, you can carefully clean the contacts with a lint-free cloth and maybe some isopropanol (camera off, obviously).
After that, I'd actually test the card in another device - computer, card reader, or another camera if you have one handy. If the card works fine there, it was probably the slot in your Canon. If it's problematic everywhere, then the card's probably shot. I wouldn't bother with formatting though, as long as you're not sure the card is being recognized in the first place - that won't help.
If the card works in other devices and the slot is clean, a firmware update for your camera might help too. Some Canon models have had issues with certain card types.