Canada represents one of the largest markets for pharmaceuticals in the world, with a huge potential for generics. In 2008, generics accounted for more than 51% prescriptions and around 23% sales of the total pharmaceutical market. The Canadian generics market is benefitting from several factors such as rapidly ageing population, patent expiry of several blockbuster drugs, lower costs and cost containment measures by the government.
According to our latest market research report, "Generic Drug Market in Canada", low cost of generics and billion dollar drug patent expiries will enable the generics market to continue its double-digit growth in the next five years. Moreover, the current economic slowdown will also add to the growth in sales of generics in the country.
Our report has identified that at present, drugs to treat chronic diseases account for most of the pharmaceutical market, with cardiovascular drugs holding the top spot. However in future, strong growth is expected in other chronic segments, particularly in cancer and diabetes which will further drive the market to maintain its growth pace.
The report provides thorough analysis of the factors that distinguish Canada from other generics markets both in positive and negative ways. A major factor that differentiates the Canadian generics market from the US and most European markets, for instance, is comparatively higher prices of generics and lower price erosion. As this characteristic of the market allows manufacturers to fetch better margins from their drugs, many foreign players have shown keen interest to enter the Canadian generics market to make most of this lucrative characteristic.
"Generic Drug Market in Canada" provides extensive research and objective analysis of the generic drug market in Canada. The report thoroughly evaluates the current market trends and relates them with past trends to give future growth prospects of various segments of the Canadian generic drug market. The report examines the performance of various players in the Canadian pharmaceutical and generic markets. Besides, a number of factors which can deteriorate the future market growth have also been discussed in the report.
