Canada Cancer Immunotherapy Market Analysis

Canada Cancer Immunotherapy Market Executive Summary

The Canada Cancer Immunotherapy Market size is at around $9 Bn in 2022 and is projected to reach $15.58 Bn in 2030, exhibiting a CAGR of 7.1% during the forecast period 2022-2030. In Canada, cancer immunotherapy is a significant and expanding component of cancer care. Immunotherapies are a possibly more efficient and non-toxic method of treating cancer by using the body's own immune system to target cancer cells. In Canada, a number of immunotherapies, such as checkpoint inhibitors, CAR-T cell therapy, and cancer vaccines, are permitted for use. These therapies have demonstrated promise in the management of a number of malignancies, including melanoma, lung, bladder, and a few blood cancers. Many clinical trials looking into novel immunotherapy strategies and combinations with existing treatments are currently being conducted in Canada in addition to the treatments that have already been approved. These studies are necessary to advance knowledge of cancer immunotherapy and enhance patient outcomes.

There are two ways to administer immunotherapy, also referred to as biological therapy. One can aid their immune system in combating the disease by fighting cancer cells that have undergone malformations and supplying it with external immune system components. Despite the fact that doctors do not fully understand the immune system, long-term cancer patients have been treated with it. In order to treat diseases like cancer, immunotherapy uses particular immune system components. Cancer immunotherapy is a type of therapy used to treat various tumors that involve both immune system stimulation and inhibition. Organs, white blood cells, and tissue from the lymphatic system make up this structure. The fight against cancer is receiving major funding from a number of businesses.

Market Dynamics

Market Growth Drivers

Cancer incidence is rising, with an estimated 1 in 2 Canadians projected to suffer the disease at some point in their lifetime. This has increased the demand for efficient cancer therapies, such as immunotherapy. Immunotherapy is becoming more widely used as a treatment for several types of cancer, and this recognition is growing. This is partly a result of the creation of new, more potent immunotherapies as well as improved knowledge of the immune system and its function in cancer. The Canadian government has encouraged the development and marketing of immunotherapies, with regulatory organizations like Health Canada offering accelerated review and approval processes for some treatments.

Recent technological developments have resulted in the creation of novel immunotherapies with promising clinical trial outcomes, such as CAR-T cell therapy and checkpoint inhibitors. The development of new immunotherapies is receiving significant funding from major pharmaceutical corporations, which has resulted in the creation of more potent medications and a wider range of patient treatment options. Based on each patient's unique genetic profile and the features of their malignancy, immunotherapy can be customized, which can enhance treatment results and minimize adverse effects.

Market Restraints

The price of these medicines is a key barrier to the market for cancer immunotherapy. Drugs used in immunotherapy are frequently expensive and can be out of reach for many patients, particularly those without insurance. The development of cancer immunotherapies has advanced significantly, although some treatments are still not generally accessible. This can be because of a lack of production capacity, legal restrictions, or other issues. Cancer immunotherapies have the potential to be very beneficial, but they can also have serious side effects. The patient's quality of life may be affected by symptoms such as exhaustion, nausea, fever, and others. Some patients may eventually develop resistance to immunotherapies, just like they do to other cancer treatments. This may reduce their efficacy and force patients to seek out alternative treatments.

Competitive Landscape

Key Players

• Pfizer
• Johnson and Johnson
• Eli Lilly
• Novartis
• Roche
• Merck
• Pfizer
• Bristol-Myers Squibb

Healthcare Policies and Regulatory Landscape

With a complicated drug funding mechanism, Canada's healthcare system is publicly supported. The pan-Canadian oncology drug review (pCODR), which is now known as the CADTH reimbursement review, makes a non-binding funding recommendation to the Canadian provinces (except Quebec), which then each decide whether the drug will be publicly funded, after receiving Health Canada's approval to market it. Although healthcare is primarily funded and provided at the provincial/territorial level in Canada, payment for cancer immunotherapy varies by province or territory.

Each province and territory's public drug programs have their own procedures for examining and authorizing the payment of cancer immunotherapies. Because cancer immunotherapies are typically expensive therapy, both patients and healthcare professionals may have trouble affording them and being paid for them. Certain immunotherapies may be covered by private insurance policies, however, patients without insurance may find it difficult or impossible to get these medicines. The majority of provincial drug plans offer some degree of coverage for cancer immunotherapy medications, however, eligibility requirements and reimbursement rates may vary from province to province and may change.