Canada's cardiovascular disease therapeutics market is likely to grow at a CAGR of 7.22% from a market size of $13.01 Bn in 2022 to $22.72 Bn in 2030. Rising cardiovascular disease prevalence and growing R&D are the major market driver. This report is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by end users. Some key players in this market include Johnson and Johnson, Gilead, AstraZeneca, Novartis, Roche, Merck, Pfizer, and others.
The Canada Cardiovascular Disease Therapeutics Market size is at around $13.01 Bn in 2022 and is projected to reach $22.72 Bn in 2030, exhibiting a CAGR of 7.22% during the forecast period 2022-2030. In 2021, it is anticipated that Canada's total health spending will amount to $308 billion, or $8,019 per person. Estimates indicate that health spending will account for 12.7% of Canadian GDP (GDP). The public sector finances healthcare services while the private sector actually provides them in Canada's hybrid public-private healthcare system. There isn't currently a national procurement model in place. Although each province has its own laws, they can change depending on the region or the services being offered. Provincial governments across Canada are creating or researching fresh approaches to buying healthcare, including centralized ones.
According to 2018 data from the Canadian Chronic Disease Surveillance System (CCDSS), approximately 1 in 12 Canadians (2.6 million) with a diagnosis of heart disease live with it, while 14 Canadians with a diagnosis of heart disease pass away every hour. Adults age 20 and older with heart disease die at a rate that is 2.9 times greater than that of those without the condition, 4.6 times higher than that of those who have had a heart attack, and 6.3 times higher than that of those who have heart failure. The province with the most heart disease sufferers is Ontario, followed by Quebec and British Columbia.
Market Growth Drivers
One of the main causes of death in Canada is cardiovascular disease, which includes heart disease and stroke. The incidence of CVD is anticipated to climb further due to an aging population and rising rates of risk factors such as hypertension, diabetes, and obesity. As a result, there is an increasing need for CVD treatments. New cures and treatments for CVD have been made possible by technological improvements. This covers the application of gene therapies, targeted medicines, and cutting-edge drug delivery systems. These developments are anticipated to enhance treatment outcomes and fuel the expansion of the Canadian market for CVD medicines.
Pharmaceutical companies are spending a lot of money on research and development to create new, better CVD medicines. This covers the creation of medications that specifically target the processes implicated in CVD as well as the creation of gene and stem cell therapies. Innovation in the market for CVD medicines is anticipated to be fueled by increased R&D spending. The burden of CVD in Canada has been addressed by a number of interventions put in place by the Canadian government. This entails raising public awareness of CVD, supporting CVD research, and putting policies in place to enhance patients with CVD's access to care. By boosting the demand for therapies and facilitating access to care, these measures are anticipated to fuel growth in the market for CVD medicines.
Market Restraints
Key Players
Health Canada, the nation's federal health regulatory organization, is in charge of Canada's regulatory environment for treatments for cardiovascular disease (CVD). Drugs, medical equipment, and other healthcare goods must be safe, efficient, and of a high caliber, according to Health Canada. Pharmaceutical firms must file a New Drug Submission (NDS) to Health Canada in order to commercialize a new medicine in Canada. The NDS contains information about the drug's quality, safety, and efficacy as well as data from preclinical and clinical research. After reviewing the NDS, Health Canada decides whether to approve the drug's commercialization in Canada.
Pharmaceutical firms must adhere to several rules and regulations regarding the creation, production, and marketing of drugs in addition to the NDS. These laws and policies are intended to guarantee the ethical and safe development and marketing of medicines. Moreover, Health Canada is in charge of post-market monitoring of medications, including CVD therapies. This entails keeping an eye on unfavorable incidents and completing regular safety reviews of the medications available. Overall, the regulatory framework for CVD treatments in Canada is created to guarantee that medicines are high-quality, safe, and efficient. Although the regulatory process might be drawn out and complicated, it is crucial in ensuring Canadians' health and safety.
2020: In mid-morning trading, Correvio Pharma (TSX: CORV), a fellow Canadian company, saw its shares rise 12.22% to $0.35, while Advanz Pharma (TSX: ADVZ) was down 1.9%. The two companies have reached an agreement for Advanz Pharma (TSX: ADVZ) to purchase all of the issued and outstanding shares of Correvio.
In 2018, Sanofi acquired Bioverativ, a biotech company focused on developing treatments for hemophilia and other blood disorders. Bioverativ had a pipeline of CVD therapeutics, including a drug for the treatment of severe hypertriglyceridemia.
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
By Disease Indication (Revenue, USD Billion):
By Drug Type (Revenue, USD Billion):
By Route of Administration (Revenue, USD Billion):
By Drug Classification (Revenue, USD Billion):
By Mode of Purchase (Revenue, USD Billion):
By End Users (Revenue, USD Billion):
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