Canada Cardiovascular Drugs Market Analysis Report 2022 to 2030

Canada Cardiovascular Drugs Market Analysis

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Canada Cardiovascular Drug Market is at around $11.1 Bn in 2022 and is projected to reach $14.91 Bn in 2030, exhibiting a CAGR of 3.8% during the forecast period. One major factor propelling the market’s expansion is personalized medicine. It utilizes a patient's genetic and molecular profile to customize treatment. The market is dominated by key players like Bristol-Myers Squibb Canada Co, Pfizer Canada, Bayer AG, Janssen Pharmaceuticals, Inc., AstraZeneca Canada Inc., Sanofi-Aventis Canada Inc., Novartis Pharmaceuticals Canada, Merck & Co., Inc., Gilead Sciences Canada, Inc., and F. Hoffman-La Roche Ltd.

ID: IN10CAPH007 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Aneri Parekh

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Canada Cardiovascular Drug Market Executive Summary

Canada Cardiovascular Drug Market is at around $11.1 Bn in 2022 and is projected to reach $14.91 Bn in 2030, exhibiting a CAGR of 3.8% during the forecast period.

Cardiovascular disease refers to a group of conditions that affect the heart and blood arteries. It does not refer to a specific condition, but rather to a group of issues that can have an impact on how the heart works and how blood circulates throughout the body. Heart failure, aortic disease, peripheral arterial disease, rheumatic heart disease, coronary heart disease, and cerebrovascular disease are among the several forms of cardiovascular illnesses. Drugs used to cure the conditions include beta-blockers, PCSK9 inhibitors, calcium channel blockers, ACE inhibitors, and antiarrhythmics.

The use of personalized medicine is fueling the steady rise of the Canada cardiovascular drug market. Increasing awareness about cardiovascular diseases is driving the growth of the market. The realities of the competitive landscape require that major firms concentrate on R&D for novel treatments and tactical alliances to keep their market leadership. About 2.6 Mn Canadian individuals over the age of 20 have heart diseases and approximately 14 Canadian individuals with heart disease who are 20 years of age or older die every hour.

Drug discovery, production, distribution, and research are under the purview of the pharmaceutical industry. Pharma revenues increased dramatically over the preceding two decades, reaching $138.33 Bn globally in 2022. The pharmaceutical sector has seen a dramatic shift with the advent of new technology and more affordable and efficient manufacturing methods. In addition, the increasing flow of investments in this industry has contributed positively to the market's growth.

With a strong portfolio that includes anticoagulants, antiplatelets, and lipid-lowering medications, Bristol-Myers Squibb Canada is a market leader in the Canadian cardiovascular pharma industry.

Canada cardiovascular drug market

Market Dynamics

Market Growth Drivers:

Use of Personalized Medicine: The market for cardiovascular drugs in Canada is expanding as patients' genetic and molecular profiles is used to customize treatment to meet their unique needs. The development of tailored medications has a huge impact on the treatment of dyslipidemia, which is expected to fuel the market's expansion in the coming years.

Increasing Awareness about Cardiovascular Diseases: Campaigns to increase public awareness of the risk factors for cardiovascular illnesses have been started by the Canadian government and non-profit groups which has resulted in the need for cutting-edge therapeutic options like novel medications.

Growing Advancement in Drug Development: With development in technology, it has become possible to discover cardiovascular drugs more efficiently and effectively, hence, propelling the market growth.

Market Restraints:

Side-effects associated with Cardiovascular Drugs: Adverse effects associated with cardiovascular medications, such as possible effects on blood pressure and liver function, present a serious obstacle to market expansion by discouraging patient adherence as well as overall market growth.

Severe Regulatory Process: The market's growth will be constrained by the severe regulatory process, which includes drawn-out approval processes and dynamic safety requirements.

Development and Approval Costs: Research and development (R&D) for new cardiovascular medications is costly and time-consuming.

Healthcare Policies and Regulatory Landscape

The national body responsible for regulating and assessing the quality, safety, and efficacy of therapeutic and diagnostic products made available to Canadians is Health Canada's HPFB (Health Products and Food Branch). A health technology assessment of the drug product is conducted, and a recommendation regarding its eligibility for public funding is made. If a product receives a positive recommendation from a health technology assessment, a pricing discussion follows. Strict scientific criteria are used by Health Canada, which requires strong clinical data and in-depth evaluations of potential hazards and benefits. This can be costly and time-consuming for producers, especially for novel or specialty medications.

Competitive Landscape

Key Players:

Bristol-Myers Squibb Canada Co.
Pfizer Canada
Bayer AG
Janssen Pharmaceuticals, Inc.
AstraZeneca Canada Inc.
Sanofi-Aventis Canada Inc.
Novartis Pharmaceuticals Canada
Merck & Co., Inc.
Gilead Sciences Canada, Inc.
F. Hoffmann-La Roche Ltd

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 Cardiovascular Drug Market Segmentation

By Drug Type

Branded
Generic

By Disease Indication

Hypertension
Hyperlipidemia
Coronary Artery Disease
Arrhythmia
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

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.