Canada Antirheumatic Drugs market was valued at US$684.940 million in 2019. The growing aging population in Canada is the major factor that is driving the demand for antirheumatic drugs in the country. According to Statistics Canada, there are 5.9 million Canadian senior citizens as compared to 5.8 million Canadians who are 14 and under. According to the data provided by the Government of Canada, almost one in seven Canadians was above 65 in 2012 which is projected to rise to nearly one in four by 2030. Since the prevalence of diseases causing chronic back pain and arthritis is more across this age group, the growing geriatric population in Canada will continue to drive the growth of antirheumatic drugs market in the country throughout the forecast period.
Market players are continuously engaged in getting approval for their drugs by the Canadian Health Ministry so that they can launch new antirheumatic drugs in the country and capture a larger market share. For example, recently, a research-based global biopharmaceutical company AbbVie has got approval for its RINVOQ® from Health Canada. This medicine is used for the treatment of moderate to severe active rheumatoid arthritis in adults who have had an inadequate response or intolerance to methotrexate (MTX). As such, the market for antirheumatic drugs in Canada will continue to grow at a substantial rate during the forecast period. The availability of over-the-counter (OTC) drugs to treat rheumatic diseases is further boosting the market growth of antirheumatic drugs market in Canada.
Canada Antirheumatic Drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis,rheumatoid arthritis, gout, lupus, and others. By type of molecule, Canada Antirheumatic Drugs market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).