Canada Advanced Therapy Medicinal Products (ATMPs) Market Analysis

Canada Advanced Therapy Medicinal Products (ATMPs) Market Executive Summary

Canada's Advanced Therapy Medicinal Products (ATMPs) Market size is at around $0.81 Bn in 2022 and is projected to reach $2.15 Bn in 2030, exhibiting a CAGR of 13% during the forecast period 2022-2030. One of the largest nations in the globe and the largest in the western hemisphere is Canada. With firms ranging from little owner-managed businesses to multinational corporations, it boasts a thriving free-market economy. In the past, the export of agricultural staples, primarily grain, as well as the production and sale of natural resource exports, such as minerals, oil and gas, and forest products, were the foundations of Canada's economy.

The public sector finances healthcare services and the private sector provides these services, in Canada's hybrid public-private healthcare system. There is currently no national procurement model that is uniform. Each province like British Columbia, Ontario, Quebec, and others has its own set of regulations, which can vary significantly between regions or service providers. Provincial governments are implementing or looking at healthcare procurement reforms, including centralized approaches. The research, development, production, and distribution of medications are all covered by the pharmaceutical industry. Global pharmaceutical sales hit $1.42 trillion in 2021 as a result of the market's explosive growth during the previous 20 years. The manufacturing sector has seen a substantial transformation due to the advent of new technologies as well as more cost-effective and efficient manufacturing methods. Moreover, increasing investment flow in this industry has favorably influenced market growth.

Advanced Treatment Medicinal Products (ATMPs) have the ability to treat the underlying cause of disease as opposed to just treating the symptoms. ATMPs help give revolutionary advantages that are not provided by traditional therapy. These elements are anticipated to drive the market during the forecast period.

Market Dynamics

Market Growth Drivers

In Canada, chronic diseases like cancer, diabetes, and heart disease are major causes of concern. In the upcoming years, demand for ATMPs may increase as a result of their potential to treat various disorders with focused and individualized therapies. The Canadian government has taken initiatives to promote the growth of the ATMP sector. This includes legislative frameworks that permit accelerated approval of these goods as well as funding schemes for ATMP research and development. Technology advancements like CRISPR gene editing and 3D printing are spurring innovation in the ATMP sector. These developments are making it possible to create more sophisticated and successful treatments, which could be very advantageous for patients. Venture capital firms have made large investments in the ATMP sector. This investment is promoting the creation of new goods and technology and expands the funding sources for the development of ATMPs. In Canada, several ATMP products are now being developed, including tissue engineering goods for wound healing, cell therapies for cancer, and gene therapies for uncommon disorders. The demand for ATMPs may increase as a result of these products' ability to solve important unmet medical needs in the years to come.

Market Restraints

ATMP development can be expensive, especially for small businesses and startups. For businesses wishing to enter the ATMP sector, these high prices can be a substantial barrier, which may reduce industry competitiveness and innovation. ATMP manufacture calls for specific equipment and facilities, which can be costly to create and maintain. Due to production constraints caused by this restricted manufacturing capacity, the marketability of ATMPs may be constrained. ATMPs can be expensive to construct and manage, which makes reimbursement difficult. Also, the reimbursement procedure for these items could not be well understood, which might prevent widespread market acceptance.

Competitive Landscape

Key Players

• Novartis
• Celgene Corporation
• Gilead Lifesciences
• Bluebird Bio
• Spark Therapeutics
• Kolon TissueGene

Healthcare Policies and Regulatory Landscape

Gene treatments, cell therapies, and tissue-engineered products all fall under the category of advanced therapy medicinal products (ATMPs). Health Canada, the nation's regulatory body for pharmaceuticals and medical devices, oversees ATMP regulation in Canada. To guarantee the security, efficiency, and calibre of ATMPs, Health Canada has devised a regulatory framework. This framework features an accelerated assessment and approval process for ATMPs, allowing for streamlined regulatory oversight of these goods. ATMPs need to adhere to the same regulatory standards as other medications and biologics in order to be used in Canada. This entails adhering to Good Manufacturing Procedures (GMP) for the development and testing of the product, as well as preclinical and clinical testing to determine its safety and effectiveness. Companies creating ATMPs can also get advice from Health Canada, including how to create gene treatments, cell therapies, and tissue-engineered goods. This advice provides suggestions for clinical trial layout as well as instructions for the production and quality assurance of these items. There are only a few ATMPs that have been authorized for use in Canada as of yet. Nonetheless, a variety of ATMP products are being developed in Canada, including tissue-engineered products for wound healing, cell therapies for cancer, and gene therapies for uncommon disorders.