Canada Oncology Drugs Market Insights Forecasts to 2033

• The Canada Oncology Drugs Market Size was valued at USD 17.5 Million in 2023.
• The Market Size is growing at a CAGR of 11.40% from 2023 to 2033
• The Canada Oncology Drugs Market Size is expected to reach USD 51.5 Million by 2033

The Canada Oncology Drugs Market Size is anticipated to exceed USD 51.5 Million by 2033, growing at a CAGR of 11.40% from 2023 to 2033. The increasing prevalence of cancer and the presence of a strong pipeline of drugs are driving the growth of the oncology drugs market in Canada.     

Market Overview

Oncology drugs are the therapeutics used for treating cancer. Chemotherapy agents, targeted therapies, immunotherapies, and hormone therapies are the range of different types of medications used as oncology therapeutics. Hematologic malignancy and solid tumors are treated with these treatments. According to estimates, Canada had 84,600 cancer-related fatalities and 229,200 new cancer cases in 2021. Further, according to hospital and retail purchases, oncology is the most popular treatment class in this nation, with $4.8 billion in sales in 2021. Cancer patients are treated to cure the illness, extend lives, and enhance their quality of life. Consequently, promoting immune responses to malignancies is a desirable therapeutic and prophylactic approach. As a result, major industry participants are funding immunotherapy research and development to treat a range of malignancies. The increasing emphasis on structuring clinical pathways, trials, and reimbursement models to accommodate precision medicine is offering market opportunities for oncology drugs.

Report Coverage

This research report categorizes the market for the Canada oncology drugs market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada oncology drugs market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada oncology drugs market.

Driving Factors

The rising cancer diagnostic cases in the country are driving the oncology drugs market. The increased cancer costs including hospital expenditures and physician care costs are bolstering the market growth. The surging innovation in cancer treatment and the presence of a strong pipeline of oncology drugs are driving the market growth.

Restraining Factors

The adverse effects associated with the oncology drugs are challenging the market. Further, the stringent regulations and patent expiry are restraining the Canada oncology drugs market.

Market Segmentation

The Canada Oncology Drugs Market share is classified into drug class, indication, dosage form, and distribution channel.

• The targeted drugs segment dominated the market with the largest market share in 2023.

The Canada oncology drugs market is segmented by drug class into cytotoxic drugs, targeted drugs, hormonal drugs, and others. Among these, the targeted drugs dominated the market with the largest market share in 2023. Monoclonal antibodies and other targeted medication therapies promote cell death or impede the progression of malignancy. The significant impact of targeted therapy in healthcare drives the market growth.

• The breast cancer segment is anticipated to grow at the fastest CAGR rate during the forecast period.

Based on the indication, the Canada oncology drugs market is divided into lung cancer, stomach cancer, colorectal cancer, breast cancer, prostate cancer, and others. Among these, the breast cancer segment is anticipated to grow at the fastest CAGR rate during the forecast period. There is an increasing drug launch for treating breast cancer such as Olaparib under the brand name Lynparza which has been approved for women with HER2-negative.

• The injectable segment dominated the Canada oncology drugs market during the forecast period.       

Based on the dosage form, the Canada oncology drugs market is divided into solid, liquid, and injectable. Among these, the injectable segment dominated the Canada oncology drugs market during the forecast period. Doctors prescribe cytotoxic/chemotherapy injectable medications as the initial treatment for certain cancer types. The advantages of injectables including faster recovery time and effective treatment of ailments are contributing to drive the market.

• The hospital pharmacies segment is expected to hold the largest market share during the forecast period.

Based on the distribution channel, the Canada oncology drugs market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the hospital pharmacies segment is expected to hold the largest market share during the forecast period. Pharmaceuticals needed for inpatient or outpatient therapy are obtained directly by hospitals from various pharmaceutical companies and are kept in hospital pharmacies. The evidence-based patient-centered care provided by pharmacists who are specialized and certified in oncology is driving the market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada oncology drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Taiho Pharma Canada
• AstraZeneca Plc.
• GlaxoSmithKline
• Eli Lilly & Co.
• AA Pharma
• Abbvie Corporation
• ACIC Pharmaceuticals
• Roche diagnostics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In July 2022, GSK plc announced it had completed the acquisition of Sierra Oncology, Inc. (Sierra Oncology), a California-based biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Oncology Drugs Market based on the below-mentioned segments:

Canada Oncology Drugs Market, By Drug Class

• Cytotoxic Drugs
• Targeted Drugs
• Hormonal Drugs
• Others

Canada Oncology Drugs Market, By Indication

• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Breast Cancer
• Prostate Cancer
• Others

Canada Oncology Drugs Market, By Dosage Form

• Solid
• Liquid
• Injectable

Canada Oncology Drugs Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies