Canada Diabetes Drugs Market Analysis Report 2022-2030

Canada Diabetes Drugs Market Analysis

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Canada's diabetes drugs market size was valued at $4.94 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030 and will reach $7.93 Bn in 2030. The market is segmented by drug type, application, and distribution channel. The Canadian diabetes drug market will grow as the Canadian population continues to age, and the incidence of diabetes is expected to increase. The key market players are Insulet Corporation, Sanofi, Johnson & Johnson, Abbott, Bayer Pharmaceuticals, Novo Nordisk, and others.

ID: IN10CAPH009 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada AUTHOR: Chandani Patel

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Canada Diabetes Drugs Market Executive Summary

Canada's diabetes drugs market size was valued at $4.94 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030 and will reach $7.93 Bn in 2030. Healthcare expenditure in Canada is primarily funded through a publicly funded, single-payer system known as Medicare. The system is administered by the provinces and territories, with federal funding provided to support the delivery of healthcare services across the country.

In 2021, total healthcare spending in Canada is projected to reach CAD 298.5 billion, representing approximately 11.6% of the country's gross domestic product (GDP). This includes spending on hospitals, physicians, drugs, and other healthcare services and supplies. The largest portion of healthcare spending in Canada is on hospitals, which account for approximately 28% of total healthcare spending. Physician services represent the second-largest category of spending, at 15%, while drugs and other medical goods and services account for roughly 10% each.

Diabetes is a significant health issue in Canada, affecting millions of Canadians and placing a significant burden on the healthcare system. According to the Canadian Diabetes Association, an estimated 11 million Canadians are living with diabetes or prediabetes, with the majority (90%) having type 2 diabetes.

The prevalence of diabetes in Canada has been steadily increasing over the past few decades, with factors such as an aging population, increasing rates of obesity, and lifestyle factors contributing to the rise in diabetes cases. In 2020, it was estimated that 3.3 Mn Canadians had diabetes, with an additional 6.4 Mn Canadians having prediabetes. The impact of diabetes on the drug market in Canada is significant, as diabetes is a chronic condition that often requires ongoing treatment and management. The market for diabetes drugs in Canada is substantial, with both traditional insulin injections and newer oral and injectable medications being widely used to manage the condition.

The diabetes drug market in Canada is highly competitive, with a variety of pharmaceutical companies offering a range of products to meet the diverse needs of patients with diabetes. As the prevalence of diabetes continues to rise in Canada, the demand for diabetes drugs is expected to increase, further driving growth in the market.

canada diabetes drugs market

Market Dynamics

Market Growth Drivers Analysis

Rising prevalence of diabetes: As the prevalence of diabetes continues to increase in Canada, the demand for diabetes medications is expected to grow, driving the expansion of the market.
Advances in drug development: Newer diabetes medications that target specific hormones involved in blood sugar regulation, such as GLP-1 agonists and SGLT2 inhibitors, are highly effective in managing blood sugar levels, and are contributing to the growth of the diabetes drugs market.
Growing aging population: As the Canadian population continues to age, the incidence of diabetes is expected to increase, further driving demand for diabetes medications.

Market Restraints

Cost: Many newer diabetes medications are more expensive than traditional insulin, which can make them difficult to access for some patients, particularly those without private insurance coverage.
Regulatory hurdles: The process of getting new drugs approved and onto the market can be lengthy and expensive, which can limit the availability of new diabetes treatments.
Limited access to care: Access to diabetes medications can be limited for some Canadians, particularly those living in rural or remote areas where access to healthcare services may be more limited.

Competitive Landscape

Key Players

Insulet Corporation
Sanofi
Johnson & Johnson
Abott
Bayer Pharmaceuticals
Novo Nordisk
Merck
Eli Lilly and Company
AstraZeneca
Boehringer Ingelheim
Novartis
GlaxoSmithKline

Recent developments

2021- Insulet Corporation - Insulet is a medical device company that focuses on diabetes management. Insulet announced a strategic partnership with Abbott to integrate Abbott's FreeStyle Libre 2 technology into Insulet's Omnipod 5 automated insulin delivery system.

2021- Sanofi announced a partnership with Glooko, a digital health company, to develop a platform for remote monitoring of diabetes patients.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In Canada, the regulation of diabetes drugs is overseen by Health Canada, the federal agency responsible for regulating and approving drugs for use in the country. Health Canada sets strict standards for the safety, efficacy, and quality of all drugs, including those used to treat diabetes.

Diabetes drugs are generally covered by public and private drug insurance plans in Canada, with reimbursement levels varying by province and territory. In some cases, patients may be required to pay a portion of the cost of their medication, either as a co-payment or a deductible.

In addition to traditional insulin injections, there are a variety of newer diabetes medications available in Canada, including oral medications and injectable drugs that target specific hormones involved in blood sugar regulation. These newer drugs can be more expensive than traditional insulin, and as such, reimbursement policies may differ between drugs and provinces.

In recent years, there has been a push in Canada to make diabetes medications more affordable and accessible to patients. This has led to changes in reimbursement policies in some provinces, including expanded coverage for newer drugs and lower co-payments or deductibles for patients. However, access to affordable diabetes medications remains a challenge for many Canadians, particularly those without private insurance coverage or with limited financial resources.

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

Diabetes Drugs Market Segmentation

By Drug Type (Revenue, USD Bn):

The drug types considered, in this report include Injectable Drugs and Oral Drugs. Injectable drugs are further classified into insulin-based and non-insulin-based injectables. Oral drugs are further classified into various classes as per their mechanism of action as mentioned below :

Injectable Drugs
- Insulin Based Injectables
- Non-insulin Based Injectables
  - Exenatide (Byetta)
  - Dulaglutide (Trulicity)
  - Semaglutide (Ozempic, Wegovy)
  - Liraglutide (`Saxenda, Victoza)
  - Lixisenatide (Adlyxin)
  - Pramlintide (Symlin)
  - Tirzepatide (Mounjaro)
  - Albiglutide (Tanzeum)
Oral Drugs
- Biguanides - Metformin (Glucophage and Glucophase XR)
- Sulfonylureas - Glimepiride (Amaryl), Glyburide (DiaBeta), Glipizide (Glucotrol), Gliclazide (Diamicron), Chlorpropamide (Diabinese)
- Meglitinides and D-Phenylalanine Derivatives - Repaglinide (Prandin), Nateglinide (Starlix)
- Thiazolidinediones (TZDs) - Rosiglitazone (Avandia), Pioglitazone (Actos)
- Dipeptidyl peptidase-IV (DPP-4) inhibitors - Sitagliptin (Januvia), Saxagliptin (Onglyza), Linagliptin (Tradjenta), and Alogliptin (Nesina and Vipidia), Teneligliptin (Tenelia), Vildagliptin (Galvus)
- Alpha-glucosidase Inhibitors - Acarbose (Precose), Miglitol (Glyset), Voglibose (Voglib)
- Sodium-glucose co-transporter-2 (SGLT2) inhibitors - Canagliflozin (Invokana), Dapagliflozin (Farxiga), Empagliflozin (Jardiance), Ertugliflozin (Stelgatro)
- Dopamine D2 agonist – Bromocriptine (Parlodel and Cycloset)
- Glucagon like peptide 1 (GLP-1) receptor agonists - Semaglutide (Rybelsus)
- Bile Acid Sequestrants (BASs) - Colesevelam (Welchol)
- Others (Fixed Dose Combination Drugs)

By Application (Revenue, USD Bn):

Based on application, the market is segmented into Type 1 and Type 2. The 2 types of diabetes drugs are segmented and dominate the market. The Type 2 diabetes segment accounts for the largest sales of the worldwide market a few different kinds. The excessive prevalence of type 2 because of sedentary lifestyles and obesity in all age groups is attributed to the current situation. Around 10% of all diabetes cases are type 1, and approximately 90% of all cases of diabetes in UK are type 2. Hence, it is estimated to the diabetes drugs market will grow across the globe during the forecast period.

Type 1 diabetes (due to β-cell destruction, usually leading to absolute insulin deficiency)
Type 2 diabetes (due to a progressive insulin secretory defect on the background of insulin resistance)
Other diabetes types

By Distribution Channel (Revenue, USD Bn):

Based on distribution channels, the market is classified into hospital pharmacies, rental pharmacies, and online pharmacies. The hospital pharmacies captured the highest market share, owing to the availability of trained & qualified personnel and favorable reimbursement structure. Online pharmacies are estimated to register the highest CAGR in the forecast period, it is attributed to the technological adaptation and acceptance of online pharmacies. Retail pharmacies showed a moderate market share improvement in the healthcare facilities in developing countries is anticipated to propel the popularity of retail pharmacies during the forecast period.

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

Methodology for Database Creation

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How Do We Get It?

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Analyzing historical proprietary data collected from multiple projects.
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Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
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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.
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Combining Secondary and Primary Research

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Merging historical data from secondary research with real-time data from primary research.
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