Canada Cardiovascular Drugs Market is
anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing burden of
cardiovascular diseases along with risk factors such as diabetes, hypertension
etc. Also, growing adoption of minimally invasive procedures is expected to
create a lucrative growth during the forecast period. Similarly,
technologies used in the development of cardiology devices have significantly
increased the demand for devices during the forecast period. Another trend is
the shift towards personalized medicine, where drugs are tailored to individual
patients based on their genetic makeup and other individual characteristics.
This approach has the potential to improve the efficacy of drugs and reduce the
risk of side effects. For instance, as per the data published by the Heart
and Stroke Foundation Canada in February 2022, 750,000 people had a heart
failure and 100,000 people are diagnosed with this incurable condition each
year in Canada.
Growing Prevalence
of Cardiovascular Diseases
The increasing
prevalence of cardiovascular diseases is a major driver of growth in the
Canadian Cardiovascular Drugs Market. Cardiovascular diseases are a leading
cause of death in Canada, and the aging population and unhealthy lifestyle
habits, such as poor diet and lack of exercise, are contributing to the rising
prevalence of these diseases. This includes devices such as
implantable cardioverter defibrillators (ICDs), pacemakers, cardiac
resynchronization therapy (CRT) devices, and transcatheter heart valves. The
Canadian healthcare system is investing heavily in the diagnosis and treatment
of cardiovascular diseases. This is driving the adoption of advanced
technologies and treatments, including the use of remote patient monitoring and
minimally invasive procedures. This, in turn, is driving the demand for Cardiovascular
Drugs that are designed to support these advanced treatments. Furthermore,
the Canadian government is promoting the growth of the Cardiovascular Drugs Market
by supporting research and development in this field. For instance, the
Canadian Institutes of Health Research (CIHR) has invested in several
initiatives aimed at improving cardiovascular health, including the development
of new devices and treatments. For example, the Canadian Cardiovascular Society
has launched several initiatives to improve access to cardiovascular drugs and
promote healthy lifestyle choices.
Increasing
healthcare expenditure
Increasing
healthcare expenditure is another key factor driving the growth of the Canada Cardiovascular
Drugs Market. The Canadian government is investing in significant resources in
healthcare, including cardiovascular care. This has led to improved access of cardiovascular
drugs for patients. The Canadian healthcare system is
publicly funded, and the government spends a significant proportion of its
budget on healthcare. The government's focus on healthcare spending has led to
increased access to cardiovascular drugs for patients, particularly for those
with low incomes or without private insurance. The government has
implemented several programs and policies to improve cardiovascular care, such
as the Canadian Cardiovascular Harmonized National Guidelines Endeavour
(C-CHANGE) initiative, which aims to improve the quality of cardiovascular care
in Canada. The growing prevalence of cardiovascular diseases in Canada
is leading to a higher demand for healthcare services, including cardiovascular
drugs. The government is investing in healthcare infrastructure and services to
meet this growing demand.
Growing
adoption of combination therapies
The growing
adoption of combination therapies is a key factor influencing the growth of the
Canada cardiovascular drugs market. Combination therapies are drug regimens
that combine two or more drugs with different mechanisms of action to achieve a
more comprehensive treatment approach. Combination therapies are
increasingly being used in the management of cardiovascular diseases in Canada.
This is due to the recognition that single-drug therapies may not be effective
in achieving optimal outcomes in some patients. Combination therapies can help
to improve the efficacy of treatment, reduce adverse effects, and improve
patient adherence. For example, combination therapy for
hypertension may include drugs from different classes, such as diuretics, ACE
inhibitors, and calcium channel blockers, to achieve optimal blood pressure
control.
Combination
therapy for heart failure may include drugs that target different pathways,
such as angiotensin receptor blockers and beta-blockers, to improve cardiac
function. The growing adoption of combination therapies is driven by
the availability of newer drugs and the increasing understanding of the
pathophysiology of cardiovascular diseases. These combination therapies can offer
commercial benefits for pharmaceutical companies as well as extend the patent
life of drugs and increasing revenue of the company. Combination therapies can
be more cost-effective for patients by reducing the need for multiple
prescriptions and medical visits. led to the development of more targeted and
effective combination therapies.
Growing
Advancements in drug development
Advancements in
technology are a major factor influencing the growth of the Canada Cardiovascular
Drugs Market. The development of new technologies has led to the discovery of
new drugs and improved treatment options for cardiovascular diseases. In
addition, technology has made it possible to deliver cardiovascular drugs more
effectively and efficiently, improving patient outcomes and reducing healthcare
costs. One
of the key technological advancements in the cardiovascular drugs market is the
development of personalized medicine.
Personalized
medicine is an approach that involves tailoring treatment to an individual's
genetic and molecular profile. This approach can lead to more effective
treatment options and reduce the risk of adverse events. Advancements in
genetic testing and biomarker identification have made it possible to identify
patients who are most likely to benefit from specific drugs, improving
treatment outcomes.
Another area of
technological advancement in the cardiovascular drugs market is drug delivery
systems. Drug delivery systems can improve the efficacy of cardiovascular drugs
by delivering them directly to the site of action. For example, drug-eluting
stents can be used to deliver drugs to the site of a blockage in the coronary
artery, reducing the risk of restenosis. Inhalation therapy is being developed
for the treatment of pulmonary hypertension, which can improve drug delivery to
the lungs. Advancements in digital health technologies, such as
wearables, mobile health apps, and telemedicine, are impacting the Cardiovascular
Drugs Market. These technologies can help to improve patient adherence to
medication regimens and provide real-time monitoring of vital signs, allowing
for early detection of cardiovascular events.
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Growing Demand
for Personalized Medicine Drives the Growth of the Market
Personalized
medicine is a key driver of growth in the Canada Cardiovascular Drugs Market.
Personalized medicine involves the use of a patient's genetic and molecular
profile to tailor treatment to their specific needs, leading to more effective
and targeted therapies. This approach has significant potential in the
treatment of cardiovascular diseases, where individual variations in response
to treatment can be significant. A major area of significant
impact of personalized medicines is the treatment of dyslipidemia, which will
drive the growth of the market over the years.
Genetic testing
can identify patients with familial hypercholesterolemia, a genetic condition
that results in high levels of low-density lipoprotein cholesterol (LDL-C).
These patients are often unresponsive to traditional lipid-lowering therapies
and require more aggressive treatment with statins or other
cholesterol-lowering drugs. Another area where personalized medicine
is making a difference is in the treatment of hypertension. Genetic testing can
help identify patients who are more likely to respond to certain types of
antihypertensive drugs, such as ACE inhibitors or beta-blockers. This can help
clinicians to select the most effective treatment regimen for each patient,
leading to better blood pressure control and reduced risk of cardiovascular
events. Personalized medicines have an impact on the development of
new cardiovascular drugs. Genetic testing and biomarker identification can help
identify new drug targets and facilitate the development of more targeted and
effective therapies.
Increasing
Awareness about novel drugs and therapies propel the growth of the market.
Increasing
awareness of cardiovascular diseases among aging population and the importance
of early detection and treatment is expected to drive the growth of Canadian cardiovascular
drugs market over the years. As more people become aware of the risks
associated with cardiovascular diseases, they are seeking out preventive
measures and treatment options, which is driving demand for cardiovascular
devices. Several factors are driving awareness of cardiovascular
diseases, including public health campaigns, media coverage, and increasing
prevalence of these diseases. The Canadian government and non-profit
organizations have launched public health campaigns to raise awareness about
the risk factors associated with cardiovascular diseases, such as high blood
pressure, smoking, and poor diet. Additionally, awareness has
led to increased demand for innovative treatment options, such as minimally
invasive procedures and implantable devices, novel drugs. These devices include
pacemakers, implantable defibrillators, heart valves, etc. Companies
that offer innovative and effective treatment options are experiencing
increased demand for their products. Additionally, companies that specialize in
diagnostic devices and remote monitoring technologies are benefiting from the
growing demand for early detection and proactive management of cardiovascular
diseases.
Recent
Development
· In 2018, the
drug Evolocumab (brand name Repatha) was approved by Health Canada for the
treatment of high cholesterol. Repatha is a PCSK9 inhibitor that works to lower
LDL-C levels.
· In 2019, the
drug Rivaroxaban (brand name Xarelto), was approved by Health Canada for the
treatment of chronic coronary or peripheral artery disease. Xarelto is an
anticoagulant that works to prevent blood clots and reduce the risk of stroke.
· In 2020, the
drug Vericiguat (brand name Verquvo) was approved by Health Canada for the
treatment of heart failure with reduced ejection fraction. Verquvo is a
guanylate cyclase stimulator that works to increase the production of cyclic
guanosine monophosphate (cGMP), leading to vasodilation and improved cardiac
function.
Market Segmentation
The Canada Cardiovascular
Drugs Market can be segmented by drug classification, disease indication, end
user, and region. Based on drug classification, the market can be divided into branded and generic. Based on disease indication, the
market can be segmented into hypertension, coronary artery disease, hyperlipidaemia,
arrhythmia, and others. Based on end user, the market can be grouped into
hospital pharmacies, online pharmacies, retail pharmacies, and others.
Market Players
Bristol-Myers Squibb
Canada Co, Pfizer Canada., Janssen Pharmaceuticals, Inc., Novartis
Pharmaceuticals Canada Inc, Merck & Co Inc., AstraZeneca Canada Inc.,
Sanofi-Aventis Canada Inc., Gilead Sciences Canada, Inc., Hoffmann-La Roche
Limited. are some of the leading players
operating in the Canada Cardiovascular Drugs Market.
|
Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historic
Data
|
2018 –
2021
|
|
Estimated
Year
|
2023
|
|
Forecast
Period
|
2024
– 2028
|
|
Quantitative
Units
|
Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
By Drug Classification
By Disease Indication
By End User
By Region
|
|
Regional
scope
|
Ontario
region; Quebec region; Alberta region; British Columbia region; Saskatchewan
and Manitoba region; Rest of Canada
|
|
Key
companies profiled
|
Bristol-Myers Squibb Canada Co, Pfizer Canada., Janssen
Pharmaceuticals, Inc., Novartis Pharmaceuticals Canada Inc, Merck & Co
Inc., AstraZeneca Canada Inc., Sanofi-Aventis Canada Inc., Gilead Sciences
Canada, Inc., Hoffmann-La Roche Limited
|
|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing
and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, the Canada Cardiovascular
Drugs market has been segmented into the following categories, in addition to
the industry trends which have also been detailed below:
Report Scope:
In this report, the Canada Cardiovascular Drugs market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Canada Cardiovascular
Drugs Market, By Drug Classification:
o
Branded
o
Generic
- Canada Cardiovascular
Drugs Market, By Disease Indication:
o
Hypertension
o
Coronary Artery Diseases
o
Hyperlipidaemia
o
Arrhythmia
o
Others
- Canada Cardiovascular
Drugs Market, By End User:
o
Hospital Pharmacies
o
Online Pharmacies
o
Retail Pharmacies
o
Others
- Canada Cardiovascular
Drugs Market, By Region:
o Ontario
region
o
Quebec region
o
Alberta region
o
British Columbia region
o
Saskatchewan and Manitoba region
o
Rest of Canada
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present Canada Cardiovascular Drugs Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Canada Cardiovascular Drugs Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]