Canada Acne Therapeutics Market Analysis Report [2022-30] I Insights10

Canada Acne Therapeutics Market Analysis

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The high incidence of acne in Canada and growing awareness about the treatments associated with acne are the main market drivers propelling the growth of the Canada acne therapeutics market from $802 Mn in 2022 to $1,348 Mn in 2030 with a CAGR of 6.7% for the year 2022-2030. The market is segmented by treatment, route of administration, age group, and by distribution channel. The major competitors in the Canada acne therapeutics market are Amgen, Apotex, and Teva Pharmaceuticals.

ID: IN10CAPH027 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Parul Choudhary

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Canada Acne Therapeutics Market Executive Analysis

The Canada acne therapeutics market size is at around $802 Mn in 2022 and is projected to reach $1,348 Mn in 2030, exhibiting a CAGR of 6.7% during the forecast period. By 2022, total health expenditures in Canada are projected to be $331 Bn, or $8,563 per person. This comes after the COVID-19 epidemic caused a rise in spending, especially in 2020. To combat COVID-19, the federal, provincial, and territorial governments collectively invested $770 per person in 2020. In 2022, funding for pandemic response is anticipated to fall to $376 per person. After strong growth of 13.2% in 2020 and 7.6% in 2021, total health spending is predicted to increase by 0.8% in 2022. From 2015 to 2019, before the pandemic, annual growth in health spending was an average of 4%. Following a peak of 13.8% in 2020, it is predicted that total health spending would account for 12.2% of Canada's gross domestic product (GDP) in 2022.

The most typical skin condition that Canadian doctors encounter is acne. It occurs when oil and skin cells clog the skin's pores, frequently leading to the development of whiteheads, blackheads, pimples, or cysts on the face, forehead, chest, upper back, and shoulders. Nearly 20% of Canadians, or 5.6 Mn people, have acne. It can lead to emotional stress, irreversible scarring, and changes in pigmentation. 90% of teenagers suffer from acne, and 25% of teenagers will still have acne when they are 25. Health Canada has approved ARAZLO as the first tazarotene lotion for the topical treatment of acne vulgaris in individuals 10 years of age and older. Following the successful conclusion of listing talks with the pan-Canadian Pharmaceutical Alliance, which represents the drug plans of the federal government and all provinces and territories, more listings of ARAZLO are anticipated in Canada.

canada acne therapeutics market analysis

Market Dynamics

Market Growth Drivers

The high incidence of acne in Canada, increased sedentary lifestyles, rising consumer disposable income, and growing consumer understanding of emerging trends in acne treatments are the main drivers of the Canadian acne therapeutics market.

Market Restraints

Canada's acne therapeutics market expansion is anticipated to be hampered by safety concerns around acne-related medications and the introduction of generic acne drugs.

Competitive Landscape

Key Players

Accord Healthcare (CAN)
Alcon (CAN)
Amgen (CAN)
Apotex (CAN)
Teva Pharmaceuticals
L'Oréal
Sun Pharmaceutical
Abbvie

Healthcare Policies and Regulatory Landscape

Private insurance plans and governmental drug benefit programs in Canada may each have a distinct approach to paying pharmacies for the cost of prescription medications. These guidelines may specify what medications are covered as well as the limits on how much the insurer or the government will pay for a given medication. Canada's provincial pharmacy benefit plans are not uniform, and a range of private and public drug reimbursement systems are offered. To be eligible for reimbursement from one or more provincial prescription insurance programs, manufacturers must ensure that their medications are included on the list of approved provincial formularies.

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

Acne Therapeutics Market Segmentation

By Treatment (Revenue, USD Billion):

Therapeutics
- Retinoid
- Antibiotics
- Hormonal Agents
- Anti-Inflammatory
- Other Agents
- Other Treatments

By Route of Administration (Revenue, USD Billion):

Oral
Topical
Injectable

By Age Group (Revenue, USD Billion):

10 to 17
18 to 44
45 to 64
65 and above

By Distribution Channel (Revenue, USD Billion):

Hospital Pharmacies
Retail and Online Pharmacies

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.