Canada has established itself as one of the largest pharmaceuticals markets globally and provides tremendous opportunity for generics. In 2009, generics accounted for more than 54% prescriptions and around 24% sales of the total pharmaceutical market. Patent expiration of branded drugs, rapidly ageing population, and the government support through cost reduction measures are some of the factors that are boosting the industry growth. The market for generic drugs is expected to reach CAD 9.4 Billion in 2013 from CAD 5.5 Billion in 2009, growing at a CAGR of more than 14% during the period.

According to our latest market research report entitled “Generic Drug Market in Canada”, steps taken by the provincial governments in ensuring availability of drugs at affordable cost and billion dollar drug patent expiries will prove to be a major growth booster for the industry. Besides, the government is adopting measures that will enhance the supply proportion of generic drugs and rebates offered (to pharmacies) will augment revenue patterns.

Our report has identified that, currently, cardiovascular drugs retain the top position in terms of total prescription and the amount of prescriptions has grown by 4% in 2009 over 2008. However, oncology remained at the top position in terms of hospital sales with CAD 808.1 Million revenue in 2009. Other therapy areas such as diabetes and hypertension are expected to drive the generics market in Canada in future.

The report covers all the necessary ingredients of Canadian generics sector and distinguishes domestic market form other generics market in terms of both positive and negative ways. A notable factor of comparison 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. 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 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 been discussed in the report.