Anti-Coagulants - Canada

Canada

Highlights

In Canada, the revenue in the Anti-Coagulants market is estimated to reach US$604.30m by the year 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 7.51%, leading to a market volume of US$867.90m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$16.74bn in 2024.
Canada's anti-coagulant market is experiencing a surge in demand, driven by an aging population and increased awareness of cardiovascular health.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The use of Anti-Coagulants, also known as blood thinners, has been increasing in Canada in recent years.

Customer preferences: Patients with heart diseases, deep vein thrombosis, and other medical conditions that require blood thinners are the main customers in the Anti-Coagulants market. In Canada, there is a growing aging population, which is more prone to such medical conditions. Additionally, the increasing awareness of the benefits of blood thinners in preventing strokes and other cardiovascular diseases has led to an increase in demand for Anti-Coagulants.

Trends in the market: One of the major trends in the Anti-Coagulants market in Canada is the shift towards the use of newer oral anticoagulants (NOACs) such as Apixaban, Dabigatran, and Rivaroxaban. These drugs have become increasingly popular in the market as they are more effective in preventing blood clots and have fewer side effects than the traditional blood thinners such as Warfarin. The NOACs are also more convenient for patients as they do not require regular blood tests and have fewer dietary restrictions.

Local special circumstances: The Canadian government provides universal healthcare coverage to its citizens, which has led to increased access to Anti-Coagulants for patients. However, the cost of these drugs is still a concern for many Canadians, especially those who do not have private health insurance. As a result, the government has been negotiating with pharmaceutical companies to reduce the cost of these drugs.

Underlying macroeconomic factors: The Anti-Coagulants market in Canada is also influenced by macroeconomic factors such as the country's GDP growth, healthcare spending, and regulatory policies. The Canadian government's focus on reducing healthcare costs has led to price negotiations with pharmaceutical companies, which has affected the pricing of Anti-Coagulants. Additionally, the increasing aging population and the rise in chronic diseases have led to an increase in healthcare spending, which has positively impacted the Anti-Coagulants market. In conclusion, the Anti-Coagulants market in Canada is growing due to the increasing aging population, rising awareness of the benefits of blood thinners, and the shift towards NOACs. However, the cost of these drugs remains a concern for many Canadians, and the market is also influenced by macroeconomic factors such as healthcare spending and regulatory policies.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.