Canada Brain Cancer Therapeutics Market Analysis

Canada Brain Cancer Therapeutics Market Analysis


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Canada Brain Cancer Therapeutics Market valued at $184 Mn in 2022, projected to reach $1412 Mn by 2030 with a 10.6% CAGR. A significant rise in the occurrence of brain cancer, specifically glioblastoma multiforme, is expected to drive the demand for treatments in the brain cancer therapeutics market. The leading pharmaceutical companies currently operating in the industry are Roche, Novartis, Merck, Pfizer, BMS, Bayer, Celgene, AbbVie, Teva Pharmaceuticals, and Spectrum Pharmaceuticals.

ID: IN10CAPH439 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Dr. Medha Sansanwal

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Canada Brain Cancer Therapeutics Market Executive Summary

Canada Brain Cancer Therapeutics Market valued at $184 Mn in 2022, projected to reach $1412 Mn by 2030 with a 10.6% CAGR.

The abnormal proliferation of brain cells is an indicator of brain cancer. These cells may be malignant (cancerous) or non-cancerous (benign). Although the precise etiology of brain cancer is still unknown, several risk factors have been found, including ionizing radiation exposure and a family history of brain tumors. A brain tumor’s typical symptoms can include headaches, progressive sensory loss, balance problems, speech difficulties, and hearing problems. These can vary depending on the tumor’s size, location, and rate of growth. The type, location, and size of the tumor all influence the treatment options for brain cancer. Treatment options that are frequently used include radiosurgery, chemotherapy, radiotherapy, surgery, and the use of carmustine implants.

In 2023, approximately 3,200 Canadians received diagnoses of brain and spinal cord cancer. This equates to an average of 27 new cases reported each day. The gender breakdown reveals that out of these diagnoses, 1,850 will affect men, while 1,350 will impact women. Tragically, the mortality rates associated with brain and spinal cord cancer are significant, with an estimated 2,500 Canadians losing their lives to these conditions in 2023. Daily, this translates to an approximate average of seven deaths, underscoring the profound impact of these diseases on the affected individuals and their families.

The combination of teteraplumib and Keytruda (pembrolizumab) for recurrent glioblastoma is being studied by Merck in a Phase II clinical trial. When preliminary data were released in October 2023, they showed encouraging early signs of effectiveness and tolerable safety profiles. Roche is now conducting a Phase III clinical trial to evaluate the efficacy of temozolomide plus Avastin (bevacizumab) in treating newly diagnosed glioblastoma patients instead of temozolomide alone. Participant recruitment for the trial is ongoing. To investigate Gilenya's (fingolimod) potential for treating newly diagnosed high-grade gliomas, Novartis is now organizing Phase IIb clinical research. This trial aims to contribute valuable insights into the efficacy and safety of the treatment.

Canada brain cancer therapeutics market

Market Dynamics

Market Growth Drivers

Rising Prevalence of Brain Cancer: In Canada, the prevalence of brain cancer is rising, especially glioblastoma multiforme (GBM). The Brain Tumour Registry of Canada reports an annual diagnosis rate of approximately 4 cases of glioblastoma multiforme (GBM) per 100,000 individuals in the country. Several causes, including the aging population, lifestyle decisions like obesity and smoking, and improvements in diagnostic technologies, are driving this increased demand for treatment.

Technological Advancements: Rapid advancements in areas like immunotherapy, targeted treatments, and precision medicine offer more personalized and improved treatment options. Modern diagnostic tools, such as AI-enhanced imaging and liquid biopsies, allow for earlier and more accurate diagnosis, prompting prompt actions and increasing market demand.

Increasing Awareness and Investment: Growing public awareness of the effects of brain cancer has resulted in increased funding for research and development (R&D) initiatives from the public and commercial sectors. This increased funding speeds up the development and release of novel treatments onto the market. An announced allocation of $4 Bn over five years has been earmarked to bolster new scientific initiatives and nurture emerging researchers.

Market Restraints

High Treatment Costs and Limited Reimbursement: The pharmaceuticals used in brain cancer treatment frequently come with substantial costs, often exceeding hundreds of thousands of dollars annually. Even in cases where insurance covers it, this financial load can provide a significant obstacle for patients and their families. Although Canada's healthcare system covers basic medical costs, severe reimbursement limits from public and commercial insurance providers may limit access to novel or updated medications. Consequently, patients may encounter limitations in accessing potentially beneficial treatments.

Adverse Side Effects and Limited Efficacy: Many drugs, most notably radiation therapy, and chemotherapy, are used to treat brain cancer, however, they can have serious side effects, including exhaustion, nausea, vomiting, hair loss, and cognitive impairment. Patients' adherence to treatment plans and quality of life may be significantly impacted by these adverse effects. Furthermore, the current therapeutic approaches are not very effective, especially when it comes to glioblastoma multiforme (GBM), the most aggressive type of brain cancer, which has a 5-year survival rate of only 6%. Patients may become discouraged and the market may not expand as a result of the limited efficacy and crippling adverse effects.

Regulatory Environment and Drug Approval Procedure: The lengthy and stringent regulatory approval procedure for new pharmaceuticals often takes years, delaying patients' access to potentially life-saving treatments in Canada. Furthermore, navigating the complex healthcare system and obtaining insurance coverage for the use of novel or off-label medications can impede market penetration and complicate access to therapy.

Notable Recent Updates

  • April 2022, China approved the precision oncology medication VitrakviTM (larotrectinib) from Bayer for the treatment of advanced or recurring solid tumors in adults and children with NTRK fusion-positive
  • April 2022, GSK and PathAI signed a contract to use digital pathology AI in NASH and cancer medication research

Healthcare Policies and Regulatory Landscape

Treatment medications are regulated and overseen by several essential authorities in Canada. Pre-approval and approval processes for new pharmaceuticals, post-market safety monitoring, and pre-market evaluations are all heavily influenced by Health Canada, primarily through its Pharmaceutical Drugs Directorate (formerly the Therapeutic Products Directorate) and Health Products and Food Branch (HPFB). To guarantee that the costs of patented medications are not exorbitant, the Patented Medicine Prices Review Board (PMPRB) independently controls the market. Evidence-based data on medication efficacy and cost-effectiveness is made available by the Canadian Agency for Drugs and Technologies in Health (CADTH). Furthermore, every province and territory has its drug formulary, with selections made based on cost-effectiveness, safety, and efficacy.

Competitive Landscape

Key Players

  • Roche
  • Novartis
  • Merck
  • Pfizer
  • BMS
  • Bayer
  • Celgene
  • AbbVie
  • Teva Pharmaceuticals
  • Spectrum Pharmaceuticals

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

Canada Brain Cancer Therapeutics Market Segmentation

By Type

  • Gliomas
  • Meningiomas
  • Pituitary Adenomas
  • Vestibular Schwannomas
  • Neuroectodermal Tumours

By Treatment

  • Chemotherapy
  • Immunotherapy
  • Targeted Drug Therapy
  • Radiation Therapy
  • Others

By End-Users

  • Hospitals
  • Oncology Specialty Clinics
  • Oncology Treatment Centres
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 01 January 1970
Updated by: Ritu Baliya

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