Canada Anemia Therapeutics Market Analysis

Canada Anemia Therapeutics Market Analysis Executive Summary

The Canada Anemia Therapeutics Market is anticipated to experience a growth from $1.184 Bn in 2022 to $2.377 Bn by 2030, with a CAGR of 9.1% during the forecast period of 2022-2030.

Anemia is defined by a lack of healthy red blood cells, which can cause fatigue, weakness, and other symptoms. There are various varieties of anemia, each with a unique cause and therapy. Anemia is classified into various forms, each with its own set of symptoms and causes. These include iron-deficiency anemia, vitamin B12 deficiency anemia, folate deficiency anemia, aplastic anemia, haemolytic anemia, and pernicious anemia. Anemia can be caused by a variety of factors, including inadequate dietary intake or absorption issues, vitamin deficiencies (B12 or folate), chronic diseases such as kidney or inflammatory conditions, genetic or inherited disorders affecting red blood cells, bone marrow disorders, haemolysis, certain medications, chronic infections, and pregnancy-related iron demands. In some circumstances, anemia can be treated with dietary changes or supplements. However, more severe kinds may need further treatments such as blood transfusions, bone marrow transplants, or medicines. Treatment is determined on the kind of anemia and the underlying cause; a healthcare provider may send patients to experts for further assessment and management.

Hemoglobin levels of Canadians indicate that around 3% of the population has anemia. While anemia can have several causes, one of the most frequent is iron deficiency, which affects around 7% of the population. This is particularly common among young women. 9% of women aged 20 to 49 and 13% of girls aged 12 to 19 had low iron reserves. The market driver for the Canada Anemia Therapeutics Market is propelled by the increasing prevalence of anemia among the aging population, driven by chronic diseases and nutritional deficits, coupled with the growing burden of non-communicable diseases like Chronic Kidney Disease (CKD) and cancer, creating a significant and expanding patient pool.

Amgen has the greatest market share in Canada owing to its Epogen sales for chronic kidney disease-related anemia. Roche's Recormon and Miraza make major contributions, positioning them as serious competitors. Other firms, such as Takeda, Sanofi, and Novartis, hold sizable market shares through their different offers.

Market Dynamics

Market Growth Drivers

Aging Population: Canada's aging population is at a higher risk of anemia owing to chronic diseases and nutritional deficits. Chronic diseases and dietary deficits make Canada's 5 Mn+ individuals over the age of 65 more susceptible to anemia. This figure is predicted to increase 4 times by 2030, resulting in a larger patient pool that requires treatment.

Growing Non-Communicable Disease Burden: Chronic Kidney Disease (CKD) and cancer are prominent causes of anemia, increasing the need for treatment. 38% of Canadians have at least one chronic condition, with 10% suffering from CKD and one in every four being diagnosed with cancer.

Technological Advancements: Canada's healthcare budget is predicted to double within the next 5 years, which will provide greater resources for anemia diagnosis and treatment. New targeted medicines for particular anemia types, such as Celgene's Revlimid for cancer-related anemia, are propelling the industry forward. The development of biosimilar Erythropoiesis-Stimulating Agents (ESAs), such as Sanofi's Epoetin beta, provides more affordable therapy choices.

Market Restraints

Stringent Regulatory Landscape: Health Canada has stringent medication clearance and reimbursement restrictions, making the process of developing novel anemia remedies time-consuming and difficult. This might cause delays in market launch and limit patients' access to novel therapies.

Healthcare System Challenges: Inequities in access to healthcare services, as well as discrepancies in patient education, can result in anemia underdiagnosis and treatment, especially in impoverished communities. Furthermore, resource restrictions in the healthcare system may limit access to specialist care for individuals with complicated anemia conditions.

Overloaded Healthcare System: Patients with mild anemia may prioritize other health concerns or delay seeking care owing to high wait times, limiting market reach. Alternatively, overburdened healthcare personnel may emphasize acute needs above preventative measures such as anemia awareness campaigns or early diagnostic programs, which might have an influence on long-term market growth.

Healthcare Policies and Regulatory Landscape

In Canada, healthcare policies are based on the key values of universality, accessibility, comprehensiveness, and portability, all of which attempt to offer fair access to healthcare services for all Canadians. Collaborative efforts between the federal government and provinces or territories guarantee that these principles are implemented through the Canada Health Act. This act sets a framework for public healthcare delivery, with the goal of eliminating financial obstacles and ensuring that individuals across the country have access to critical medical treatments. Health Canada, the country's national health agency, is responsible for maintaining public health standards, with a particular emphasis on drug control. Pharmaceutical review and supervision are the responsibility of Health Canada's Therapeutic Products Directorate. Before a medicine is released to the market, it is rigorously tested to guarantee its safety, effectiveness, and quality. Health Canada continues to manage post-market surveillance, implementing laws to ensure the continued safety and efficacy of medications available to Canadians. This regulatory framework is critical for protecting public health and ensuring the integrity of Canada's healthcare system.

Notable Recent Updates

June 2023, Health Canada authorized GSK's Reblozyl (luspatercept) for the treatment of beta-thalassemia and myelodysplastic syndromes (MDS) with anemia. This provides a new option for people who may not respond well to traditional therapies, such as blood transfusions.

July 2023, Celgene reported good Phase 2 findings for lenalidomide in combination with luspatercept for the treatment of transfusion-dependent delta-thalassemia. This might result in a new therapy option for this particular kind of anemia.

August 2023, The Patented Medicine Prices Review Board (PMPRB) made a final ruling on the price of Novartis' ReGRANEX (ferric maltol). This decision has ramifications for market share and competitiveness among oral iron supplements.

Competitive Landscape

Key Players:

• Amgen
• Roche
• Takeda Pharmaceutical
• Sanofi
• Novartis
• Apotex
• Pharmascience
• Biovail
• Paladin Labs
• Aurin Pharmaceuticals