Key Market Indicators
Canadian Diabetes Medicine Sales are projected to soar to $6 billion by 2028, a significant increase from the $3.8 billion anticipated in 2023. This marks an impressive annual growth rate of 7.2%. The Canadian market has been expanding steadily since 2017, with an average annual growth rate of 15.3%. Globally, Italy, Australia, and Croatia follow closely behind Canada in the diabetes medicine market rankings. In a related development, Canadian insulin imports are expected to reach nearly $442 million by 2028, up from approximately $390 million in 2023. This represents a modest annual growth rate of 1.9%. Since 1994, the demand for insulin in Canada has been increasing at an average rate of 2.6% per year. However, on the export front, Canadian insulin shipments are projected to decline dramatically. Exports are expected to fall from $1.9 million in 2023 to just over $700,000 by 2028, registering a staggering annual decrease of 15.3%. Since 1994, Canadian insulin exports have been dwindling at an average annual rate of 9.4%. In 2023, Canada ranked 25th in insulin exports, with Portugal taking the lead at $1.9 million. France, Italy, and China occupied the second, third, and fourth spots, respectively, in the global insulin export rankings.
