Canada Specialty Pharmacy Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

Canada Specialty Pharmacy Market Segmentation, By Service Type (Clinical Services, Operational Services, and Other Services), Type (Large Pharmacy Benefit Manager (PBM) and Small- Independent Pharmacy Service Providers), Condition (Cancer, Rheumatoid Arthritis, Multiple Sclerosis, Osteoarthritis, Infertility, HIV, Pulmonary Hypertension, Immune Deficiency, Anemia, Hemophilia, Psoriasis, Cystic Fibrosis, Ulcerative Colitis, Crohn's Disease, Juvenile Idiopathic Arthritis, Growth Hormone Deficiencies, Hepatitis C Virus, and Others) - Industry Trends & Forecast to 2030

Canada Specialty Pharmacy Market Size

• The Canada specialty pharmacy market was valued at USD 7.39 billion in 2024 and is expected to reach USD 13.94 billion by 2030
• During the forecast period of 2025 to 2030 the market is likely to grow at a CAGR of 11.2% primarily driven by the increasing geriatric population
• This growth is driven by factors such as innovations in specialty treatments, advancements in targeted therapies, and the integration of digital health solutions in managing complex health conditions within Canada’s specialty treatment market

Canada Specialty Pharmacy Market Analysis

• The Canada specialty treatment market is experiencing growth due to innovations in specialty medications, which offer more effective and personalized treatment options for various conditions
• Advancements in targeted treatments are playing a significant role, as they allow for more precise and efficient therapies that improve patient outcomes and reduce side effects
• The increasing adoption of personalized therapies is a key driver, with a shift towards tailored treatment plans based on individual genetic, lifestyle, and environmental factors
• The integration of digital health solutions, such as telemedicine, health monitoring apps, and AI-driven diagnostics, is enhancing patient management and treatment adherence in the Canadian healthcare system
• Furthermore, the growing demand for minimally invasive procedures and advanced surgical techniques is contributing to the expansion of the specialty treatment market
• Canada's robust healthcare infrastructure and increasing investments in medical research and development are facilitating the growth of innovative treatments and improving patient access to specialized care

  • For instance, Canada leads in the adoption of advanced specialty treatments, including targeted therapies and innovative medical devices, along with the integration of digital health solutions for improved patient management and outcomes

• With a growing emphasis on specialized healthcare and preventive treatments, the Canadian market is witnessing significant investments in novel therapies, medical technologies, and patient-centric solutions, driving overall industry expansion

Report Scope and Specialty Pharmacy Market Segmentation

Specialty Pharmacy Market Trends

“Rising Adoption of Digital and AI-Driven Specialty Treatment Solutions”

• A key trend in the Canada specialty treatment market is the increasing adoption of digital and AI-driven solutions for personalized care and treatment management
• These innovative technologies enhance specialty treatment by offering personalized treatment plans, real-time monitoring, and data-driven insights to optimize therapeutic strategies

  • For instance, AI-powered platforms and wearable devices track patient health metrics, provide tailored recommendations, and improve adherence to treatment protocols

• Telemedicine platforms and virtual consultations further support patients by offering remote care, continuous monitoring, and medication management, leading to better treatment outcomes.
• This trend is revolutionizing patient care by improving engagement, enhancing long-term treatment success, and driving demand for digital health solutions in the specialty treatment market in Canada.

Specialty Pharmacy Market Dynamics

Driver

“Increasing Prevalence of Chronic and Rare Diseases”

• The increasing prevalence of chronic and rare diseases in Canada significantly drives the specialty pharmacy market by creating a growing demand for specialized medications and comprehensive patient care
• Chronic conditions such as diabetes, cardiovascular diseases, and autoimmune disorders require long-term management, often involving high-cost specialty drugs that are complex in nature and necessitate individualized treatment plans
• As the population ages and lifestyle-related health issues become more common, the number of patients requiring these specialized medications continues to rise, leading to a corresponding increase in the demand for specialty pharmacies that can provide tailored pharmaceutical services

For instance,

• According to the WHO report 2020, the number of new cases in 2020 is 274364, and the number of death is 86684.
• In mesothelioma, when the treatment is no more effective, and the patient is in the last stage of the disease, they need special attention provided in hospice care. Hospice care is generally preferred for patients whose prognosis is less than six months

• Moreover, the emergence of rare diseases, which often require unique and expensive therapies, further propels the specialty pharmacy market
• Many rare diseases lack established treatment protocols or have limited availability of effective therapies, necessitating pharmacies with specialized knowledge and capabilities in handling these unique medications
• Specialty pharmacies are well-positioned to offer enhanced patient support services, including medication management, patient education, and adherence monitoring, thereby improving health outcomes for individuals with chronic and rare conditions.
• This evolving landscape not only expands the market potential for specialty pharmacies but also emphasizes the importance of regulation and oversight to ensure safety and efficacy in delivering these critical medications

Opportunity

“Emerging Markets of Specialty Pharmacies”

• A major factor in the growth of the specialized pharmacy market is the aging population. Diabetes due to an unhealthy lifestyle and rising dementia, Alzheimer's, and Parkinson's diseases are common in the geriatric population
• From 2015 to 2021, the number of seniors is projected to exceed the number of children aged 14 and younger for the first time. By 2036, seniors could reach between 9.9 and 10.9 million people
• According to a medium-growth scenario, the number of people aged 80 and older is expected to double to 3.3 million by 2036
• The population aged 100 and older could triple to more than 20,000. Apart from the geriatric population, GDP, population density, and improving access to the specialized pharmacy market create growth opportunities

For instance,

• In May 2024, according to an article published by NCBI, digital technologies enable personalized care, streamline medication management, and improve patient outcomes
• Automation, cloud computing, and advanced analytics facilitate efficient delivery of specialty medications, driving access and affordability in underserved regions. This digital transformation enhances the scalability of specialty pharmacy services globally

• Thus, these acquisitions done by companies in Canada show that people are getting aware of the specialty pharmacy service and opening a new opportunity for growth in the Canada specialty pharmacy market

Restraint/Challenge

“Lack of Skilled Pharmacists”

• The supply of these crucial drugs require a qualified pharmacist to meet the customer requirement. If the service provider is not well trained or not aware of the drug, the disease can’t be cured properly and it may increase the risk of hazard
• The service providing companies receive complains from the patients regarding the service provider such as the service provider spends more time on their phones or laptops rather than giving attention to patient

For instance,

• In 2024, according to the news published in City News, the shortage of skilled pharmacists in Quebec, with an estimated 3,000 vacancies, is a restraint on the specialty pharmacy market in Canada.
• This lack of personnel impacts the delivery of specialized care, medication management, and timely patient support. Consequently, it hinders the ability of specialty pharmacies to scale their operations and meet the growing demand for complex treatments

• Thus, the lack of skilled pharmacists will act as a major restraining factor for the growth of the Canada speciality pharmacy market

Canada Specialty Pharmacy Market Scope

The market is segmented on the basis of service type, type and condition.

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Canada Specialty Pharmacy Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, country presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

The Major Market Leaders Operating in the Market Are:

• McKesson Canada (Canada)
• Sobeys Inc. (Canada)
• Rexall Pharmacy Group Ltd. (Canada)
• Bayshore HealthCare (Canada)
• PHARMASAVE (Canada)
• 360Care Denman Pharmacy (Canada)
• Abby Pharmacy (Canada)
• PharmaChoice Canada Inc. (Canada)
• Anchor Compounding Pharmacy (Canada)
• Andreen's Pharmacy (Canada)
• Balanced Health Integrative Pharmacy (Canada)
• Bains Pharmacy (Canada)
• NKS Health (Canada)
• Concord Specialty Pharmacy (Canada)
• BioScript Solutions (Canada)
• McCallum Pharmacy (Canada)
• Lovell Drugs (Canada)
• Create Compounding Limited (Canada)
• Dynasty Pharmacy (Canada)
• Resident Care Pharmacy (Canada)
• Pace Pharmacy (Canada)
• Northmount Pharmacy and Compounding Lab (Canada)
• Victoria Compounding Pharmacy (Canada)
• Aaronson's Compounding Pharmacy (Canada)
• Total Pharmacy (Canada)
• Riverviewguardian.ca (Canada)
• Shoppers Drug Mart Specialty Health Network Inc. (Canada)
• Meds West Ltd. (Canada)
• Rx Connect (Canada)
• London Drugs (Canada)
• Sentrex Health Solutions (Canada)
• Medicine Centre (Canada)
• Aurora Health Care (U.S.)
• Omnicell Inc. (U.S.)
• Onpharm-United (Canada)
• Mountain Health CO-OP (U.S.)
• SRx Health (Canada)
• Compounding Pharmacy New Westminster - Longevity Pharmacy (Canada)
• City Life Pharmacy (Canada)
• Omnicare Pharmacy (U.S.)
• Budget Pharmacy (Canada)
• Torani and Haddad Pharmacy Spec-Pharma (Canada)
• West End Pharmacy (Canada)
• Brunskill Pharmacy (Canada)
• Extend Pharmacy (Canada)
• Sherman Specialty Pharmacy (Canada)
• Quiick Medicine (Canada)
• Pratt's Compounding Pharmacy (Canada)
• Allcures Pharmacy (Canada)
• Alpine Drug Mart I.D.A. (Canada)

Latest Developments in Canada Specialty Pharmacy Market

• In June 2021, McKesson Canada launched its full suite digital offering for the patients and healthcare professionals to enhance the specialty physicians ability to support their patients in their through their entire healthcare journey, this initiative builds to provide the better digital offerings for the Canadians
• In January 2024, Roche Canada and McKesson Canada collaborated on a six-week innovation challenge to streamline Patient Support Programs, enhance patient experiences, and expedite access to therapies for complex diseases like MS and cancer. By tackling administrative hurdles and embracing design thinking, they developed impactful, resource-efficient solutions that accelerate treatment timelines, marking a significant advancement in patient care and support services
• In January 2020, ClaimSecure, in partnership with Rexall and Sobeys Inc., launched Canada’s first national health program combining traditional benefits with a pharmacy-based Preferred Provider Network. This integrated model offers cost savings, expanded access to medications, and personalized care through a unified platform. It enhances patient experiences via a nationwide network of pharmacies, specialty drug services, and expert healthcare support
• In December 2024, Sobeys is expanding its partnership with Pricer and JRTech Solutions to deploy 5 million electronic shelf labels across Canada, following a successful rollout in 50 stores. This large-scale digital transformation, valued at approximately 485 MSEK, includes Pricer’s cloud-based Pricer Plaza platform and aims to enhance operational efficiency and customer experience, with completion targeted by April 30, 2026
• In June 2022, Rexall and CarePartners have begun a partnership focused on improving community healthcare. The collaboration aims to enhance access to essential health services, such as home care and medication management, to better support individuals in their local communities. By combining CarePartners' home healthcare expertise with Rexall's pharmacy services, the partnership strives to provide comprehensive care, improve health outcomes, and promote overall well-being for patients

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