Canada Anti-Depressants Drugs Market Report 2022 to 2030

Canada Anti-Depressants Drugs Market Analysis

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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.

ID: IN10CAPH051 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Chandani Patel

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Canada Anti-Depressants Drugs Market Executive Summary

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.

canada anti-depressants drugs market

Market Dynamics

Market Growth Drivers Analysis

Increasing prevalence of depression: The rising prevalence of depression in Canada is a significant driver of the antidepressant drugs market. As more people are diagnosed with depression, there is a growing demand for antidepressant medications.
Growing awareness and acceptance of mental health: The increasing awareness and acceptance of mental health issues and the importance of seeking treatment for these conditions are driving demand for antidepressant drugs.
Advancements in drug development: The development of new and more effective antidepressant drugs is driving growth in the market. Pharmaceutical companies are investing heavily in research and development to create new drugs with fewer side effects and better efficacy.
Aging population: Canada has an aging population, and older adults are more likely to experience depression. This is contributing to increased demand for antidepressant medications.

Market Restraints

Side effects of antidepressant drugs: Antidepressant drugs can cause several side effects, such as nausea, insomnia, and sexual dysfunction. This can limit patient compliance and contribute to lower demand for these drugs.
High cost of medication: The high cost of antidepressant drugs can limit access to treatment for people who cannot afford these medications, particularly those without insurance coverage.
Alternative treatments: Some patients may choose alternative treatments, such as psychotherapy or complementary and alternative medicine, instead of antidepressant medications.

Competitive Landscape

Key Players

Apotex Inc
Lundbeck Canada Inc
Purdue Pharma Canada
Janssen Inc.
Paladin Labs Inc
Pfizer Inc
Bristol-Myers Squibb
Eli Lilly and Company
Mylan N.V.
Amneal Pharmaceutical Inc
Avet Pharmaceuticals Inc.
Johnson & Johnson
Takeda Pharmaceutical Company Limited
Merck & Co., Inc.
AbbVie Inc.
Mylan N.V.
Novartis AG

Recent developments

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.

Healthcare Policies and Regulatory Landscape

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

Anti-Depressants Drugs Market Segmentation

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.

Tricyclic Antidepressants (TCAs) - Amitriptyline (Elavil), Amoxapine (Asendin), Desipramine (Norpramin), Doxepin (Silenor), Imipramine (Tofranil), Nortriptyline (Pamelor), Protriptyline (Vivactil), Trimipramine (Surmontil)
Selective Serotonin Reuptake Inhibitors (SSRIs) - Citalopram (Cipramil), Dapoxetine (Priligy), Escitalopram (Cipralex), Fluoxetine (Prozac or Oxactin), Fluvoxamine (Faverin), Paroxetine (Seroxat), Sertraline (Lustral), Vortioxetine (Brintellix)
Serotonin-Norepinephrine Reuptake Inhibitors (SNRIs) - Desvenlafaxine (Pristiq), Duloxetine (Cymbalta), Levomilnacipran (Fetzima), Venlafaxine (Effexor XR)
Monoamine Oxidase Inhibitors (MAOIs) - Socarboxazid (Marplan), Phenelzine (Nardil), Selegiline (Emsam), Tranylcypromine (Parnate)
Serotonin Antagonist and Reuptake Inhibitors (SARI) - Etoperidone (Axiomin, Etonin), Lorpiprazole (Normarex), Mepiprazole (Psigodal), Nefazodone (Serzone, Nefadar), Trazodone (Desyrel)
Others

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.

Major Depressive Disorder
Anxiety Disorders
Attention Deficit Hyperactivity Disorder
Others

Route of Administration

Based on the route of administration the market is segmented into:

Oral
Injectable
Others

End-Users

Based on end users the market is segmented into:

Hospitals
Homecare
Speciality Centres
Others

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.

Hospital Pharmacy
Online Pharmacy
Retail Pharmacy

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.