Canada Blood Disorder Therapeutics Market

Canada Blood Disorder Therapeutics Market Executive Summary

Canada Blood Disorder Therapeutics Market valued at $1.072 Bn in 2022, projected to reach $1.912 Bn by 2030 with a 7.5% CAGR.

Blood diseases are a broad category of illnesses that impact the make-up, functionality, and clotting properties of blood. Abnormalities in platelets, white blood cells, red blood cells, or the plasma that circulates hormones, nutrition, and waste materials throughout the body can all be associated with these illnesses. Blood problems include hemophilia, a clotting illness that affects the blood's capacity to coagulate, leukemia, a kind of malignancy that affects white blood cells, and anemia, which is characterized by a lack of red blood cells or hemoglobin. This broad category also includes sickle cell disease, a hereditary condition that results in malformed red blood cells, and thrombocytopenia, a condition marked by low platelet numbers. The goal of treatment is to reduce symptoms; these may involve stem cell transplants, blood transfusions, or pain management. Treatment alternatives including immunotherapies and targeted medicines are becoming more and more available because to advancements in medical research. Treatment regimens are often customized for each blood condition, with the goals of reducing symptoms, raising blood cell counts, and improving quality of life in general.

In Canada, sickle cell disease is the most prevalent genetic blood ailment, impacting around 6,000 individuals nationwide. Less than 1 in 10,000 persons, or around 2,500 Canadians, have hemophilia A, whereas roughly 1 in 50,000 individuals, or roughly 600 Canadians, have hemophilia B. Blood cancer is one of the other illnesses.

The growing adoption of advanced therapies supported by government initiatives, and the rising prevalence of blood disorders, particularly among Canada's aging population, are the main factors driving the market for blood disorder treatment.

While Takeda Pharmaceutical Company Limited (which acquired Shire Plc in 2019) is now building a solid foothold in Canada's rare blood diseases market, Sanofi provides a wide range of treatments for different blood disorders. Famous in the affordability markets is Apotex, a prominent Canadian pharmaceutical business that manufactures generic versions of several blood condition drugs.

Market Dynamics

Market Growth Drivers

Increasing Blood Disorder Prevalence: Chronic illnesses like leukemia and anemia are more common in Canada due to the country's aging population. The increased frequency of some blood illnesses associated with hereditary factors may be influenced by immigration trends. Early diagnosis of diseases that were previously underdiagnosed is being made possible by advancements in diagnostics and awareness.

Expanding Adoption of Advanced Therapies: Recombinant coagulation factors are displacing choices generated from plasma, reducing the danger of infection and enhancing patient safety for hemophiliacs. The treatment options for different blood diseases are expanded by the increased use of immunomodulatory medications and targeted treatments. Though it is still in its infancy, gene therapy has the potential to completely change the way some diseases like sickle cell disease and beta-thalassemia are treated.

Increasing R&D Expenditure: Patients with diseases that were previously considered untreatable or incurable now have hope thanks to the development of novel, cutting-edge medicines including gene therapy and customized medicine. A focus on precision medicine enables more effective and less harmful tailored medicines. Innovation is encouraged by Canadian government support for research, which comes in the form of funds and programs like CAN-TARGET.

Market Restraints

Exorbitant Treatment Costs: New treatments, particularly gene therapies, come with hefty price tags that may be higher than those covered by insurance or allocated by governmental programs. This may lead to uneven access to therapies that can change lives and generate issues with affordability for individuals and healthcare systems. Innovation and affordability continue to be difficult to balance, necessitating cost- and access-controlling measures.

Limited Reimbursement Coverage: Newer or more expensive therapies could not be easily funded by public insurance, even though important blood disease drugs are covered under universal healthcare. Delays in the start of therapy, financial strain on patients, and pressure on governments to provide insurance coverage for cutting-edge treatments are all possible outcomes of this.

Restraints on Healthcare Resources: The Canadian healthcare system is confronted with resource constraints, such as inadequate staff and infrastructural issues. This may result in a shortage of skilled medical personnel, which is necessary for managing patient care and delivering complicated therapies for blood disorders. It is essential to address these resource limitations in order to guarantee fair access to treatment and the best possible use of novel therapeutics.

Healthcare Policies and Regulatory Landscape

Canada has a publicly financed healthcare system that guarantees access to basic medical treatments, including hospitalization, for all citizens. Health Canada's Therapeutic Products Directorate (TPD) is responsible for overseeing and regulating pharmaceuticals and medical equipment to guarantee their efficacy and safety. The TPD is in charge of assessing and approving medications and medical devices for use in Canada in addition to maintaining continuous post-market safety surveillance. Pharmaceutical businesses apply to Health Canada, especially the TPD, in order to bring a new drug to the Canadian market. In this application, they provide extensive information on animal research, chemistry, manufacturing procedures, and clinical trial findings. Before approving a medicine or medical equipment for use in Canada, the TPD carefully examines, verifies, and oversees its safety.

Notable Recent Updates

• January 2024, Pfizer's gene therapy, Beqvez, for hemophilia B has been authorized by Canadian health regulators. This is the first time the pharmaceutical has been given regulatory authorization for a genetic medication of this kind. Hemgenix from CSL will compete with Pfizer's gene treatment, which it licensed from Spark Therapeutics nine years ago.
• October 2023, the first and only gene therapy for the treatment of hemophilia B, developed by CSL, called HEMGENIX® (etranacogene dezaparvovec) has been approved by Health Canada. Adults with hemophilia B who need regular prophylaxis to stop bleeding episodes or lessen their frequency can be treated with HEMGENIX.

Competitive Landscape

Key Players:

• Takeda Pharmaceutical
• Sanofi
• Novo Nordisk
• Pfizer
• Apotex
• Paladin Labs
• Sandoz
• Spark Therapeutics
• Bluebird bio
• BioMarin Pharmaceuticals