Canada Biosimilars Market Analysis Report 2022 to 2030

Canada Biosimilars Market Analysis

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Canada's biosimilar market size was valued at $1.53 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 22.2% from 2022 to 2030 and will reach $7.63 Bn in 2030. The market is segmented by product type and indication type. This market will grow as there is a shortage of qualified radiologists and imaging technologists in some areas, leading to longer wait times and delays in diagnosis and treatment. The key market players are Sonic Healthcare Limited Amgen, Biocon, Celltrion Healthcare, Dr. Reddy's Laboratories, and others.

ID: IN10CAPH027 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Chandani Patel

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Canada Biosimilars Market Executive Summary

Canada's biosimilars market size was valued at $1.53 Bn in 2022 and is estimated to expand at a CAGR of 22.2% from 2022-30 and will reach $7.63 Bn in 2030. The use of biosimilars in Canada varies by province, as each province is responsible for making decisions about the funding and use of drugs in their jurisdiction.

In April 2020, the Ontario government introduced a biosimilar switching program, which requires patients who are currently using a reference biologic drug to switch to a biosimilar product. The program applies to several biological drugs used to treat conditions such as rheumatoid arthritis and inflammatory bowel disease. British Columbia has implemented a biosimilar initiative, which encourages the use of biosimilar drugs as a way to reduce healthcare costs. The initiative includes a biosimilar switching program, as well as incentives for prescribers to choose biosimilars over reference products.

Biosimilars have the potential to offer significant cost savings to the healthcare system, while also increasing patient access to important treatments. As the use of biosimilars continues to grow in Canada, they are expected to play an increasingly important role in the country's healthcare system. Hence the market will grow during the forecast period.

canada biosimilar market analysis

Market Dynamics

Market Growth Drivers

Biosimilars provide a less expensive option to costly biologic medications, which can aid in lowering healthcare costs for patients and payers. Furthermore, as the patents on the reference biologic products expire, producers of biosimilars will have the chance to enter the market and provide less expensive substitutes.

Moreover, the Canadian government has implemented policies and measures to encourage the use of biosimilars, including switching programs for biosimilars and increased financing for biosimilar R&D.

Market Restraints

Biosimilar development and approval can be a complex and lengthy process, with manufacturers facing regulatory and legal challenges. Also, physician and Patient Education: There can be some resistance to the use of biosimilars among healthcare providers and patients who may be unfamiliar with these products.

Additionally, maybe market barriers that prevent biosimilars from gaining a significant share of the market, such as exclusivity agreements between reference product manufacturers and payers.

Competitive Landscape

Key Players

Apotex Inc. (CAN)
Pfizer Canada ULC (CAN)
Sandoz Canada Inc. (CAN)
Teva Canada Limited (CAN)
Sanofi-Aventis Canada Inc. (CAN)
JAMP Pharma Corporation (CAN)
Mylan Pharmaceuticals ULC (CAN)
Fresenius Kabi Canada Ltd. (CAN)
Celltrion Healthcare Co. Ltd. (CAN)
Biogen Canada Inc. (CAN)

Healthcare Policies and Regulatory Landscape

Health Canada, the government agency in charge of protecting the security and effectiveness of medicines and medical devices in the nation, is in charge of regulating biosimilars in Canada. A regulatory framework for the licensing of biosimilars has been created by Health Canada, and it involves a detailed assessment procedure to assess how similar the biosimilar is to the reference biologic product.

Similar to other nations, Canada has regulatory criteria for biosimilars, including the necessity to show consistency with the reference product in terms of quality, safety, and effectiveness. Pre-clinical testing is the first phase in the approval procedure, which is followed by human clinical trials. The Canadian Agency for Drugs and Technologies in Health (CADTH) is in charge of making recommendations on how medications and medical equipment should be used and paid for in Canada. In order to examine the clinical and financial advantages of novel medications, including biosimilars, CADTH performs Health Technology Assessments (HTAs) and provides suggestions on how to utilize and support them.

On the basis of the recommendations of CADTH and other considerations including local priorities and finances, the Canadian provinces and territories are in charge of making the ultimate choices about the funding and usage of medications, including biosimilars. In an effort to lower healthcare costs and improve patient access to treatment alternatives, certain provinces have developed policies to promote the use of biosimilars, such as biosimilar switching programs.

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

Canada Biosimilars Market Segmentation

By Product

The monoclonal antibodies, insulin, granulocyte colony-stimulating factor, erythropoietin, recombinant human growth hormone, etanercept, follitropin, teriparatide, interferons, enoxaparin sodium, glucagon, and calcitonin are among the product categories that make up the biosimilars market. Monoclonal antibodies held a sizable portion of the market in 2020. The market is being driven by elements including the widespread use of monoclonal antibodies in the treatment of autoimmune diseases, cancer, and osteoporosis, as well as the affordability of such treatments.

Monoclonal Antibodies
- Infliximab
- Trastuzumab
- Rituximab
- Adalimumab
- Other monoclonal antibodies (bevacizumab, cetuximab, ranibizumab, denosumab, and eculizumab)
Insulin
Granulocyte Colony-Stimulating Factor
Erythropoietin
Recombinant Human Growth Hormone
Etanercept
Follitropin
Teriparatide
Interferons
Enoxaparin Sodium
Glucagon
Calcitonin

By Indication

The biosimilars market is divided into oncology, autoimmune and inflammatory diseases, chronic illnesses, blood disorders, growth hormone insufficiency, infectious diseases, and other indications based on the indication (infertility, hypoglycemia, myocardial infarction, postmenopausal osteoporosis, chronic kidney failure, and ophthalmic diseases). The market's largest sector in 2020 will be oncology. This market is expanding as a result of elements like the reduced cost of biosimilars compared to novel biologics and the increased incidence and prevalence of cancer.

Oncology
Inflammatory & Autoimmune Disorders
Chronic Diseases
Blood Disorders
Growth Hormone Deficiency
Infectious Diseases
Other Indications (infertility, hypoglycemia, postmenopausal osteoporosis, chronic kidney failure, and ophthalmic diseases)

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.