Canada's Anti-depressant drugs market size was valued at $1.31Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 5.9% from 2022-30 and will reach $2.08 Bn in 2030. The market is segmented by drug class, indication, route of administration, end-user, and distribution channel. The Canadian anti-depressant drug market will grow because of the development of novel antidepressant drugs and the expansion of the product portfolio of pharmaceutical companies. The key market players are Apotex Inc., Lundbeck Canada Inc., Purdue Pharma Canada, Janssen Inc., Paladin Labs Incand others.
Canada's Anti-depressant drugs market size was valued at $1.31Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 5.9% from 2022-30 and will reach $2.08 Bn in 2030. In Canada, healthcare expenditure and mental health expenditure are closely linked. Mental health is an important component of the Canadian healthcare system, and a significant amount of healthcare spending is directed towards mental health services and programs. According to the Canadian Institute for Health Information (CIHI), mental health and addictions accounted for approximately 7.2% of total healthcare spending in Canada in 2019. This includes spending on mental health services provided in hospitals, outpatient clinics, and community-based settings, as well as spending on prescription medications for mental health conditions. The majority of mental health spending in Canada is directed towards hospital care, which accounted for 41% of mental health spending in 2019. This was followed by prescription medications, which accounted for 21% of mental health spending. Overall, mental health expenditure in Canada has been increasing in recent years, reflecting a growing demand for mental health services and a greater emphasis on mental health in the healthcare system.
In Canada mental health expenditures are divided between public and private spending. In the United States, public spending accounted for approximately 34% of mental health expenditures, with private insurance accounting for 43% and out-of-pocket expenses accounting for 23%. In Canada, public spending on mental health and addiction services accounted for approximately 70% of total expenditures, with private insurance and out-of-pocket expenses accounting for the remaining 30%.
Depression is a common mental health disorder in Canada, affecting millions of people each year. According to the World Health Organization (WHO), depression is the leading cause of disability in Canada, with an estimated 19 Mn people affected by the disorder each year. The Canadian Mental Health Association reports that an estimated 1 in 5 Canadians (or 20% of the population) will experience a mental illness, including depression, in any given year. The incidence of depression in Canada varies depending on age, gender, and other factors. According to the NIMH, women are more likely than men to experience depression, with an estimated 10.5% of women and 5.8% of men experiencing a major depressive episode in 2017. The NIMH also reports that the highest rates of depression are among adults aged 18-25 years old. In Canada, the Canadian Community Health Survey found that the prevalence of depression was highest among adults aged 20-39 years old.
A competitive market for these drugs has resulted from the strong demand for depressive treatments in Canada. Antidepressant medications come in a variety of forms, such as atypical antidepressants, selective serotonin reuptake inhibitors (SSRIs), and serotonin and norepinephrine reuptake inhibitors (SNRIs). This competition promotes innovation and advancement in the antidepressant medicine industry. The market's pricing is also impacted by the increasing demand for antidepressant medications. As many antidepressants are accessible in generic form, patients may find them to be more economical.
Market Growth Drivers Analysis
Market Restraints
Key Players
January 2021: Janssen Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) had approved its drug, Spravato (esketamine), for the treatment of depressive symptoms in adults with the major depressive disorder who have not responded to other treatments. This approval marked an important development in the field of depression treatment, as Spravato is the first medication in decades to use a new mechanism of action for treating depression.
In Canada, the regulatory agency responsible for approving antidepressant drugs is Health Canada. Antidepressant drug manufacturers in Canada are subject to regulations around marketing their products. The Advertising Standards Canada oversees the advertising of prescription drugs, including antidepressants.
Pricing for antidepressant drugs in Canada can vary depending on a number of factors, including the specific drug, insurance coverage, and geographic location. In the United States, the price of prescription drugs, including antidepressants, is largely driven by market competition, as well as negotiations between pharmaceutical companies and insurance providers. In Canada, the Patented Medicine Prices Review Board is responsible for regulating the price of patented drugs, including antidepressants, to ensure that prices are not excessive and do not pose an undue burden on the healthcare system.
In terms of access to antidepressant drugs, Canada have programs in place to help make medications more affordable for those who need them. In Canada, most prescription drugs, including antidepressants, are covered under public health insurance plans, although coverage can vary depending on the province or territory.
In Canada, most prescription drugs, including antidepressants, are covered under Public Health Insurance Plans. Coverage for prescription drugs varies by province and territory, but most plans cover at least some portion of the cost of antidepressants. In some provinces, like Ontario and Quebec, there are also programs in place to help low-income individuals and families access prescription drugs at little or no cost.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
Drug Class
The market is divided into monoamine oxidase inhibitors, atypical antidepressants, tricyclic, serotonin, and norepinephrine reuptake inhibitors, selective serotonin reuptake inhibitors, and others based on pharmacological class. In 2021, the selective serotonin reuptake inhibitors (SSRIs) market segment held the biggest market share. The strength of the pipeline of top players to assess new potential candidates in this drug class, combined with the clinical advantage of SSRIs over conventional medications in the management and treatment of depression, is anticipated to accelerate the segment's growth.
Indication
By Indication, the major depressive disorder segment was the major contributor in 2021 and is expected to maintain its lead during the forecast period, owing to an increase in the prevalence of major depressive disorder and initiatives taken by governments and private organizations about the development of drugs. However, the obsessive-compulsive disorder segment is expected to witness considerable growth during the forecast period, owing to an increase in the prevalence of mental disorders and an increase in the number of approval for anxiety drugs.
Route of Administration
Based on the route of administration the market is segmented into:
End-Users
Based on end users the market is segmented into:
Distribution Channel
Hospital pharmacies, retail pharmacies, and online pharmacies are the three types of pharmacies that make up the market based on the distribution channel. In 2019, the hospital pharmacies segment dominated the world market. Nonetheless, the expansion of the retail pharmacy market might be attributed to patients' increasing demand for these establishments. Due to the growing prevalence of online pharmacies in emerging countries, the segment of online pharmacies is estimated to see a profitable CAGR over the forecast timeframe.
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