Canadian Trends in Estimated Drug Purchases and Projections: 2024 and 2025

Background
Data on trends in the pharmaceutical market remain limited, while budget planning is an annual process that requires forecasting potential growth.

Objective
This study provides an annual update on estimated drug purchases in Canada and highlight key factors that could impact future spending.

Methods
This retrospective time-series analysis of annual estimated drug purchases across Canada between 2001 and 2023 used IQVIA’s Canadian Drugstore and Hospital Purchases Audit. 

Results
Total estimated drug purchases for 2023 were approximately $43.5 billion, 13.7% higher than in 2022. Overall, expenditure on the top 25 high-cost drugs accounted for 32.5% and 53.3% of total spending in the retail and hospital sectors, respectively.


Conclusion
The accelerated growth in overall estimated drug purchases is likely driven by the increasing use of new diabetes and obesity treatments. Without measures to address this ongoing increase in pharmaceutical spending, there may be a need to reallocate funds from other public sectors or shift costs to private industry and patients.

Citation
Tadrous M,  Wang K, Chaudhry S, Chu C, Clement F, Guertin J, Law M, Thompson W, Gomes T, Hayes K. (2024). Canadian Trends in Estimated Drug Purchases and Projections: 2024 and 2025. Canadian Journal of Health Technologies.

Access the full article:


Date Released: December 18, 2024

Please note that this report is NOT COMPLETE and is still in progress. Click below if you would like to continue.