Canada Diabetes Drug Market Overview, 2030

Canada’s diabetes drug market is witnessing steady growth driven by an alarming rise in the number of people affected by the disease, coupled with advancements in treatment and strong government initiatives. According to International Diabetes Federation, around 2.8 million Canadians are living with diabetes, this number is projected to increase to 3.3 million by 2050, largely due to an aging population, sedentary lifestyles, rising obesity rates, and genetic predispositions, particularly within Indigenous communities. When factoring in prediabetes, nearly 30% of Canadians are at risk, placing immense pressure on the healthcare system. Medications like Ozempic and Wegovy have seen a sharp rise in popularity, not only for diabetes but also for obesity management, adding further momentum to market demand. The country is also emerging as a hub for innovation in diabetes care, with the approval and launch of once-weekly basal insulin (insulin icodec) in 2024 and increasing adoption of advanced digital tools like smart insulin pens, continuous glucose monitors (CGMs), and AI-powered mobile health apps. Products like the Omnipod 5 automated insulin delivery system and the Tandem t: slim pump integrated with Dexcom G7 sensors are being widely adopted across Canada. Regulations are closely governed by Health Canada and the Patented Medicine Prices Review Board (PMPRB), which has strengthened pricing controls on patented drugs to ensure affordability. A landmark move was the introduction of a national Pharmacare Act in 2024, beginning with public coverage for diabetes drugs and contraceptives under a CAD 1.5 billion initial budget. Provinces like British Columbia are already participating, aiming to reduce patient cost burdens and enhance accessibility.

According to the research report ""Canada Diabetes Drug Market Overview, 2030,"" published by Bonafide Research, the Canada Diabetes Drug market was valued at more than USD 4.58 Billion in 2024. The increasing adoption of newer-generation therapies, particularly GLP-1 receptor agonists and SGLT2 inhibitors, which are preferred over traditional medications due to their dual benefits—effective glycemic control and weight loss. These drugs are now being prescribed not only for diabetes but also for obesity and cardiovascular risk management, widening their appeal and increasing prescription volumes across provinces. the increased diagnosis of diabetes at earlier stages, supported by improved screening programs and better public awareness, which is pushing more people into long-term treatment regimens sooner. Consequently, lifetime drug spending per patient is rising. Furthermore, the rising consumer interest in personalized medicine has spurred demand for therapies tailored to individual metabolic profiles and coexisting conditions, fueling research into new drug combinations and patient-specific insulin regimens. Pharmaceutical companies are heavily investing in R&D to develop next-generation biosimilars, weekly dosing formulations, and combination therapies to meet these evolving needs. With the rollout of a national pharmacare program that includes diabetes medications, patient access is improving rapidly. The reimbursement landscape is becoming more favorable, encouraging physicians to prescribe newer, more effective but historically costlier medications. Also contributing to this growth are biosimilar adoptions and provincial substitution mandates that are lowering prices and increasing volume-based consumption, particularly for insulin glargine biosimilars. From a business standpoint, pharmaceutical companies are expanding their footprints in Canada, with several multinationals launching or expanding local manufacturing and distribution operations to meet rising demand. There's also an uptick in strategic partnerships between healthcare providers, insurers, and pharma firms to streamline patient care, reduce costs, and improve treatment outcomes.

Insulin remains indispensable for people with Type 1 diabetes and advanced Type 2 cases. Canada has a strong legacy with insulin as it was discovered by Canadian scientists, and the drug is widely accessible. Long-acting insulin analogs and rapid-acting formulations are in high demand, especially with the aging population and the growing insulin initiation in early Type 2 cases. GLP-1 receptor agonists such as semaglutide and liraglutide have seen significant growth in Canada, driven by their dual benefit of glycemic control and weight loss. This drug class aligns well with the country’s rising obesity-related diabetes burden and has gained popularity despite higher costs, particularly through private insurance coverage. The market is witnessing rapid adoption of once-weekly formulations due to patient convenience. DPP-4 inhibitors, known for their safety and tolerability, have established a steady demand, especially among elderly patients or those with comorbidities. Sitagliptin, linagliptin, and similar drugs offer effective glucose control with minimal hypoglycemia risk, and their wide availability has sustained their popularity even as newer agents enter the market. SGLT2 inhibitors like empagliflozin and dapagliflozin are rapidly gaining market share in Canada due to their cardiovascular and renal benefits, in addition to glucose reduction. With the increasing emphasis on outcomes-based treatments and guidelines recommending SGLT2s for patients with heart failure or kidney disease, demand is robust and rising. These agents are also helping reduce diabetes-related hospitalizations, aligning with public health priorities. The ‘Others’ category, including metformin, remains foundational, especially as the first-line therapy for Type 2 diabetes. Metformin’s low cost, long-standing clinical use, and favorable safety profile make it the most prescribed diabetes drug in the country.

The demand in the Type 1 segment is heavily concentrated around insulin therapies, including basal-bolus regimens, insulin analogs, and insulin pump technologies. Rapid-acting and long-acting insulin analogs such as insulin aspart and insulin glargine are commonly used, supported by government programs and private insurance. Canada’s historical connection to insulin’s discovery, combined with ongoing innovation and digital insulin delivery systems, keeps this segment active, especially with a growing pediatric and adolescent patient base needing specialized care. Furthermore, continuous glucose monitors (CGMs) and smart insulin pens are becoming more integrated into care, although cost remains a barrier for some patients outside provincial reimbursement programs. In recent years, the rise in obesity and sedentary lifestyles has led to increased demand for GLP-1 receptor agonists, such as semaglutide, due to their ability to promote weight loss and reduce cardiovascular risks. Similarly, SGLT2 inhibitors are gaining prominence for their protective effects on the heart and kidneys—conditions frequently co-existing with Type 2 diabetes. This aligns with Canadian clinical guidelines and patient-centered care models that prioritize outcomes. While older drug classes like sulfonylureas and DPP-4 inhibitors remain relevant, especially among elderly populations due to ease of use and safety, newer therapies are capturing more of the market due to proven long-term benefits. Moreover, the increasing focus on combination therapies (e.g., SGLT2/metformin or GLP-1/metformin) reflects a growing demand for simplified regimens that improve adherence.

Oral medications dominate the market, particularly for managing Type 2 diabetes, which accounts for the vast majority of diabetes cases in Canada. Drugs like metformin, SGLT2 inhibitors, and DPP-4 inhibitors are widely used and preferred due to their convenience, cost-effectiveness, and ease of compliance. Metformin remains the most prescribed oral medication, largely due to its affordability, minimal side effects, and its role as a first-line therapy. SGLT2 inhibitors (e.g., empagliflozin) and DPP-4 inhibitors (e.g., sitagliptin) have gained strong traction, driven by their ability to reduce cardiovascular and renal risks critical issues for Canada’s aging and increasingly comorbid diabetic population. Subcutaneous administration includes injectable therapies like insulin and GLP-1 receptor agonists, and represents a major segment, especially for Type 1 diabetes and advanced Type 2 cases. Insulin is indispensable for Type 1 patients and increasingly used in progressive Type 2 diabetes. Long-acting insulins such as glargine and rapid-acting formulations like aspart are widely prescribed. Canada’s healthcare system provides broad access to insulin through both public and private plans, with provinces like Ontario and Alberta offering expanded coverage for insulin pumps and continuous glucose monitoring (CGM) systems. GLP-1 receptor agonists, such as liraglutide and semaglutide, have seen exponential growth due to their weight-loss benefits, once-weekly dosing, and proven cardiovascular protection. Intravenous administration in the diabetes drug market is relatively limited and primarily used in acute care settings, such as hospitals, where patients with diabetic ketoacidosis (DKA) or severe hyperglycemia require immediate intervention. IV insulin is typically administered in emergency scenarios or for patients undergoing surgery or intensive care.

Hospital pharmacies primarily cater to acute care needs and are vital for managing patients with severe or complex diabetic conditions, especially those hospitalized due to complications like diabetic ketoacidosis or post-surgical care in diabetic patients. These pharmacies offer controlled, supervised dispensing of advanced insulin therapies or injectable medications such as GLP-1 receptor agonists, often under physician surveillance. Hospital pharmacies also stock specialized or high-cost biologics that may not be readily available in community settings. Their demand is supported by the growing burden of diabetes-related hospitalizations; as of 2024, over 2.7 million Canadians were diagnosed with diabetes, and hospitalization rates remain high among elderly diabetics. Retail pharmacies, which include large chains like Shoppers Drug Mart and Rexall as well as independent community outlets, dominate the distribution channel for diabetes drugs in Canada. They are the most accessible point for regular prescriptions, OTC glucose monitoring tools, insulin pens, and oral medications like metformin or SGLT2 inhibitors. The demand in this segment is driven by chronic medication adherence, with Canada’s public and private insurance systems playing a key role in affordability. Many provinces, such as Ontario and British Columbia, have expanded drug coverage for seniors and low-income groups, increasing footfall in retail pharmacies. Additionally, retail pharmacists in Canada are increasingly authorized to renew prescriptions and offer patient counseling services, making them more integral to diabetes care. With approximately 1 in 3 Canadians living with diabetes or prediabetes, the convenience of retail pharmacies supports sustained demand for diabetes therapies. Online pharmacies have witnessed exponential growth, particularly after the COVID-19 pandemic accelerated digital health adoption. Platforms like CanadaDrugsDirect and Well.ca offer home delivery for a wide range of diabetes drugs, including insulin, glucose meters, and weight-loss-supporting GLP-1 drugs like semaglutide.

Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Diabetic Drug Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Drug Class
• Insulin
• GLP-1 Receptor Agonists
• DPP-4 Inhibitors
• SGLT2 Inhibitors
• Others (metformin, sulfonylureas, and combination therapies)

By Diabetes
• Type-1
• Type-2

By Route of Administration
• Oral
• Subcutaneous
• Intravenous

By Distribution Channel
• Hospital Pharmacies
• Retail pharmacies
• Online Pharmacies Show more