Canada  Dermatology Prescription market

Canada  Dermatology Prescription market size stood at around USD 459.7 million in 2022 and is projected to reach USD 927.4 million by 2030, exhibiting a CAGR of around 9.2% during the forecast period. Increasing cases of skin diseases, investments of various companies in skin diseases treatment, increasing geriatric population looking for solutions to maintaining healthy skin are the factors driving market for  Dermatology Prescription. Technological advancements and the strong pipeline of drugs are also anticipated to fuel the growth of the market in the future in Canada. The Canada  Dermatology Prescriptions Market is likely to record a considerable growth rate in the coming years.  
Increasing cases of skin diseases like psoriasis, acne, rosacea, Eczema, Actinic Keratoses are the key growth factors for driving Dermatology Prescription market in Canada. 
Increasing partnership with academia, small and medium sized enterprises, government and research centers as well as contract research organizations are also acting as key driving factors. Accessibility of retail drug stores and hospitals are also contributing to the growth of the Prescription Drug market in Canada.

Market growth drivers
Growing Burden of Skin Diseases:
In Canada, 20% of the population has acne issues, around 1 million are diagnosed with psoriasis, 2 million Canadians have rosacea. In 2019 ,an estimated 7,800 Canadians were suffering with melanoma. Among youth and adults , melanoma was 5th most common newly diagnosed cancer. As per Eczema Society of Canada, Atopic dermatitis, the most common form of eczema, is a common skin condition, and is estimated to impact between 10-15% of Canadians. 
As per World Cancer Research fund, In 2020, Canada Non-melanoma skin cancer number was around 61,645. Also, In 2021, the number of cases of Lyme disease which is a skin disease was reported to be more than more than 950 in Canada. Thus, Canada’s Dermatology market is majorly driven by the rising burden of Skin diseases in the region.

Increase in approval of Dermatology drugs
 

Increase in approvals of new drugs by Health Canada in treatment of various skin disease is driving Canada Dermatology Prescription Market:

• In 2019, Health Canada approved Skyrizi for adults with moderate to severe plaque psoriasis who are candidates for systemic therapy or phototherapy.
• In 2020, Dupixent was approved in Canada to treat for moderate-to-severe atopic dermatitis in adults and adolescents.
• In 2022, Health Canada approved Bimzelx for the Treatment of Adults with Moderate to Severe Plaque Psoriasis.
  Thus, Canada’s Prescription Dermatology market is driven by the Increase in approval of Dermatology drugs in the region

Market Restraints

• Availability of alternative treatments
• Side Effects Associated with Dermatology Drugs
• High cost of dermatology drugs and  treatment

Opportunities for future growth:

• New innovations in Dermatology 
   

Notable deals: 

• March 2022, Miravo Healthcare, a Canadian-focused healthcare company launched Blexten for the treatment of hives and itching of chronic spontaneous urticaria.

Canada  Dermatology Prescription Market Segmentation 

• By Disease Type: Skin Cancer segment is expected to grow at a CAGR of 9.5% during the forecast period
• By Drug Class: Monoclonal antibodies segment is expected to grow at a CAGR of 9.6% during the forecast period. 
• By Route of Administration: Parenteral segment is expected to grow at a CAGR of 9.6% during the forecast period. 
• By Distribution Channel: Retail Pharmacy segment is expected to grow at a CAGR of 9.1% during the forecast period

Major Dermatology Prescription Products Market Share
Monoclonal antibodies segment accounted for 55.3% market share of the total Dermatology Prescription Products Market. Biologics like Remicade, Humira , Stelara, Enbrel, Keytruda which are used in skin conditions such as Psoriasis and Melanoma constituted strong share in market.

Canada  Dermatology Prescription Market Analysis: Competitive Landscape

• Johnson and Johnson Company 
• Merck & Co., Inc.
• Pfizer Inc. 
• Roche
• Bayer
• Glaxo SmithKline Company 
• Novartis 
• Astra Zeneca 
• Taro Pharmaceutical
• Bausch Health

Canada  Dermatology Prescription Market Analysis: Market Segmentation

By Disease Type

• Acne
• Dermatitis
• Psoriasis
• Skin Cancer
• Rosacea
• Others

By Drug Class

• Monoclonal antibodies
• Corticosteroids
• Retinoids
• Antibiotics agent 
• Antifungal Agents 
• Others

By Route of Administration

• Oral
• Topical
• Parenteral

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy