Generics to Penetrate Over 30% Pharma market in Canada

The generics are increasingly becoming a norm across Canada because of their low cost and potential to replace branded drugs. At present, generics accounts for around 23% of total pharmaceutical sales while they outperformed the branded drugs with over 50% of market share in terms of prescription. This strong performance is expected to continue in future and the generics market is anticipated to grow at a CAGR of over 14% during 2009-2013, says our new market research report "Generic Drug Market in Canada".

After extensively studying all relevant aspects of the market, we have identified the prevailing trends which are stirring the market towards tremendous growth. We have realized that patent expiration of branded drugs and acceptance of generics as a competitive low cost replacement for branded drugs among Canadians is leading the generics market to post more than twice the growth rate expected for branded drugs the forecasted period.

Because of this strong growth many domestic as well as international players are positioning themselves to take optimum advantage of the soaring Canadian generics market which is currently dominated by top ten companies present in the market. Also, the companies are not only going for mergers and acquisitions rapidly, but also they are investing huge amounts in R&D of new generic drugs to proactively prepare themselves for the emerging market opportunities.

"Although the market is growing phenomenally, some challenges are still existing there which may hamper the growth trajectory of the market such as the extension of data exclusivity and evergreening of drug patents. In order to ensure market development, the government should come forward with relaxed regulatory reforms," says an analyst at RNCOS.

Our report, "Generic Drug Market in Canada", provides a deep insight into the industry and facilitates balanced evaluation of positive as well as negative factors which differentiate the country from the European and US generics market. Also, it gives objective analysis on the country's generics market, on the basis of which it provides information about competitive landscape, present and future market trends, and forecast for various generics market segments. The report, thus, contains all the information crucial and valuable to manufacturers/investors preparing to enter the Canadian generics market.

For more information visit: http://www.rncos.com/Report/IM598.htm