The Canada Rheumatology Therapeutics market size stood at around USD XX billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
The market in Canada is projected to show a nominal growth over the next five years on account of the high prevalence of rheumatic diseases in the country coupled with a world-class healthcare sector in the country. Approximately 374,000 (1.2%) Canadians aged 16 years and older live with diagnosed rheumatoid arthritis, and 23,000 (0.8 per 1,000 persons per year) were newly diagnosed in 2016–2017. This, in turn, is anticipated to significantly drive the demand for various types of antirheumatic drugs and thus positively impact the market growth in the country in the coming years. Furthermore, the growing healthcare expenditure further enables the citizens to avail themselves of costly treatments and medicines, which is also projected to positively impact the market growth in Canada throughout the forecast period.
The significant factors driving the market growth throughout the region include the moderate incidence of numerous rheumatic diseases in various areas. The profitable investments in pharmaceutical R&D in the region further widen the opportunities for the market to grow in the coming years. With the growing number of geriatric people aged 65 years and above in Canada, the number of age-associated diseases such as joint pains, back pain, and rheumatoid arthritis, among others, hence the market for various types of antirheumatic drugs will also continue to soar due to their requirement for disease treatment.
Major Rheumatology Disease
The different major diseases are Rheumatoid Arthritis, Gout, Osteoarthritis, Juvenile Idiopathic Arthritis, Scleroderma, Sjogren’s Syndrome, and Others. Rheumatoid Arthritis has a significant market share in the Canadian market and is forecasted to grow in the future.