Canada Anemia Drugs Market Analysis

Canada Anemia Drugs Market Executive Summary

Canada's Anemia drugs market was valued at $1.28 Bn in 2022 and is estimated to expand at a CAGR of 8.9% from 2022-30 and will reach $2.53 Bn in 2030. Anemia is a medical disorder defined by a low level of red blood cells or hemoglobin in the blood. Anemia is caused by excessive blood loss, which can occur during delivery, menstruation, or loss of RBCs owing to prolonged bleeding. Anemia can be caused by a lack of nutrients, such as vitamins and minerals, which can also diminish or impede red blood cell synthesis.

The increasing frequency of chronic kidney disease (CKD) and cancer, both of which are major causes of anemia, is driving the anemia medications market in Canada. Erythropoiesis-stimulating agents (ESAs) such as epoetin alfa and darbepoetin alfa, which increase the synthesis of red blood cells, are the most widely prescribed medications for anemia in Canada. Iron supplements are also commonly used to treat iron-deficient anemia.

Market Dynamics

Market Growth Drivers

Anemia is a common condition in Canada, with around 3.5 million Canadians affected by it. The increasing prevalence of anemia is one of the main drivers of growth in the anemia drugs market. Canada has an aging population, which is more prone to developing anemia. The Canadian government has taken several initiatives to address this issue, which has led to an increased demand for anemia drugs. Canada's senior population — those 65 and over — is predicted to expand by 68% during the next 20 years. Technological advancements in drug delivery systems have made it easier to administer anemia drugs, which has resulted in improved patient compliance and increased demand for anemia drugs. The Canadian government has taken several initiatives to address anemia, which has led to an increase in demand for anemia drugs. For example, the government has launched the Healthy Eating Strategy, which aims to improve the nutritional quality of food and reduce the prevalence of anemia.

There is an increasing awareness among the general public about anemia and its causes, which has led to an increased demand for anemia drugs. This is partly due to the efforts of healthcare professionals and patient advocacy groups. Canada has a robust healthcare system, and the government spends a significant amount of money on healthcare. This has led to increased availability of anemia drugs and improved access to healthcare services. Several novel therapies for anemia, such as erythropoietin-stimulating agents, iron formulations, and hypoxia-inducible factor stabilizers, are in development or have recently been approved, which is expected to drive growth in the anemia drugs market in Canada.

Market Restraints

Anemia treatment can be expensive, and not all patients can afford it. The high cost of anemia drugs is a major challenge for patients and healthcare providers in Canada. The approval process for anemia drugs can be lengthy and costly, which can delay the availability of new treatments in Canada. Although Canada has a publicly funded healthcare system, there are still areas where access to healthcare services is limited, particularly in rural and remote areas. This can make it challenging for patients with anemia to access the treatment they need. Some anemia drugs can have adverse effects, such as the increased risk of thrombosis, hypertension, and cardiovascular events. These side effects can limit the use of anemia drugs in some patients, particularly those with pre-existing conditions. The anemia drugs market in Canada is becoming increasingly competitive, which can make it challenging for smaller companies to enter the market or for established companies to maintain their market share. The expiration of patents for some anemia drugs has led to the introduction of generic versions, which can reduce the profitability of branded anemia drugs and make it challenging for companies to recoup their research and development costs.

Competitive Landscape

Key Players

• Amgen
• Roche
• Takeda
• Pizer
• Johnson & Johnson
• Sanofi
• Novartis

Notable Deals

September 2022: SK Capital Partners has agreed to buy Apotex Pharmaceutical Holdings, a Canadian generic drugmaker with medications in all main therapeutic categories for patients all over the world.

Healthcare Policies and Regulatory Landscape

Canada has a publicly funded health scheme, known as “Medicare:”, which provides comprehensive coverage. The federal government provides drug coverage for selected populations (e.g., eligible First Nations people), which account for 2% of prescription drug expenditure in Canada. Provincial governments currently finance between 28% and 41% of prescription drug expenditures in their jurisdictions through public drug plans. 22% of prescription drug spending in Canada is financed out-of-pocket by patients because approximately 11% of Canadians have no prescription drug coverage.

Canada Health Infoway launched ACCESS 2022 an initiative that is intended to expand the access of Canadians to their health information.

Reimbursement Scenario

To be commercially viable, a drug must first be licensed by Health Canada, the Canadian federal regulatory agency responsible for determining efficacy, safety, and quality. Beyond the regulatory process, drug reimbursement focuses on value. A federal agency, the Patented Medicine Prices Review Board (PMPRB), determines the maximum price at which a medicine can be sold in Canada. This cost cannot be "excessive."

Anemia drugs are reimbursed in Canada through public and private drug coverage. The majority of Canadians are covered by public drug plans, which are managed by the federal, provincial, and territory governments. Public drug plans in Canada have different eligibility criteria and coverage levels, but they generally cover a range of anemia drugs. The level of reimbursement for anemia drugs varies depending on the drug, the indication, and the patient's coverage plan. Generally, reimbursement is based on the drug's effectiveness, safety, and cost-effectiveness. Private drug plans in Canada are provided by employers, unions, and other organizations. The level of reimbursement for anemia drugs under private drug plans varies depending on the plan's design and the insurer's policies.