Canada is one of the world’s largest pharmaceutical markets, even though it has a low share of only 3% in global pharma industry. In 2010, generics accounted for more than 57% prescriptions and around 26% sales of the total pharmaceutical market. On the back of factors including patent expiration of branded drugs, growing aging population, and government support through cost reduction measures, it is estimated that the market for generic drugs will be growing at a CAGR of around 13% during 2011-2014.
According to our latest market research report entitled, “Generic Drug Market in Canada”, the provincial governments are implementing necessary steps to ensure the availability of drugs at an affordable cost. With billion dollars drug patents on the verge of expiry, the generic industry is foreseen to undergo a massive growth in the future. Besides, the government is adopting measures to enhance the supply proportion of generic drugs and rebates offered (to pharmacies) will augment revenue patterns of this industry.
Our report has identified that, neurological disorder therapy has shown an aggressive growth of 7.2% in 2010 over 2009, in terms of total prescription and the amount of prescriptions. However, oncology remained at the top position in terms of hospital sales with CAD 863.4 Million revenue in 2010, whereas the cardiovascular drugs have moved out from the list of top ten sales. Other therapy areas, such as anti-cholesterol agents and hypertension are expected to drive the generics market in Canada in future.
This report was compiled by considering all the requisite ingredients of Canadian generics sector and distinguishes domestic market from other generics market in all possible ways. The Canada generics market constitutes higher prices of generics and lower price erosion, in comparison to the US and most European markets, which makes it a major issue of concern for the government. However, the latest regulatory mechanism clearly shows that the Canadian Government has been adopting measures to ensure optimum generic costs.
“Generic Drug Market in Canada” provides extensive research and objective analysis of the generic drug market in Canada. The report effectively evaluates all the factors that are driving the growth and studies current market trends that will shape the future of the industry. The report also has cited the distribution of the drugs and presented state-wise consumptions to depict a much clear picture of the market. The report also examines the performance of various players in the Canadian pharmaceutical and generic markets. Besides, a number of factors that can prove to be deteriorative for the future growth of market have been discussed in the report.