By 2030, it is anticipated that the Canadian oncology drugs market will reach a value of $46 Mn from $15.7 Mn in 2022. The Canadian oncology drugs market would likely grow at a CAGR of 11.6% during 2022-30. The companies operating in the oncology drug in Canada market are AstraZeneca Plc. GlaxoSmithKline, Eli Lilly & Co., Roche Diagnostics, Novartis AG, Pfizer Inc., Merck & Co., Gilead, Sanofi S.A, and Celgene Corporation. The Canadian oncology drugs market is segmented based on therapy modality and types of cancer. Key factors for market growth in the oncology market can be the high rise in cancer cases, increasing research on the oncology sectors, and so on.
By 2030, it is anticipated that the Canadian oncology drugs market will reach a value of $46 Mn from $15.7 Mn in 2022. The Canadian oncology drugs market would likely grow at a CAGR of 11.6% during 2022-30. One in six deaths worldwide and almost one in three deaths in Canada are caused by cancer, making it one of the leading causes of death in the world. According to estimates, there will be 225,800 new oncology cases and 83,300 cancer deaths in Canada in 2020 alone. According to estimates, 2 in 5 Canadians will get cancer at some point in their lives. By 2022, total health expenditures in Canada are projected to be $331 Bn or $8,563 per person.
Market Growth Drivers Analysis
Oncology drugs with high price tags make up an increasing portion of drug costs in private drug plans in Canada. Top-selling new oncology medications are readily available in Canada, similar to other comparable nations.
Market Restraints
The oncology market in Canada has shifted significantly over the past ten years in favor of more expensive medications, which could cause market growth to become saturated.
Key Players
July 2022: Sierra Oncology, Inc., a biopharmaceutical company based in California that specializes in targeted therapies for the treatment of rare forms of cancer, has been acquired by GSK plc, according to a statement released today.
August 2021: Trillium Therapeutics Inc., a clinical-stage immuno-oncology company developing novel therapies for the treatment of cancer, and Pfizer Inc. announced that the two companies have entered into a binding agreement under which Pfizer will acquire Trillium. In accordance with the terms of the agreement, Pfizer will purchase all outstanding shares of Trillium that it does not already own for $2.26 billion, or $18.50 per share, in cash, which represents the implied equity value. This is a 118% premium over Trillium's 60-day moving average price.
The national agency responsible for governing, assessing, and monitoring the security, effectiveness, and caliber of therapeutic and diagnostic products offered to Canadians is Health Canada's HPFB.
The cost of many medications is covered by the Ontario Drug Benefit (ODB) Program for people once they turn 65. Drugs covered by the Ontario Drug Benefit Program are either included in the ODB Formulary/Comparative Drug Index (the "Formulary") or are given special consideration through the Exceptional Access Program (EAP) on a case-by-case basis.
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
By Drug class
By Therapy
By Indication
By Dosage form
By Distribution channel
Methodology for Database Creation
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