Canada Pharmaceutical Market Analysis Report 2022 to 2030

Canada Pharmaceutical Market Analysis

$ 3999

Canada's pharmaceutical market size is about $83.08 Bn in 2022 and is expected to witness significant growth of about $141.69 Bn in 2030 with a CAGR of 6.9% as there are a large number of overseas pharmaceutical companies having a presence in Canada. The incidences of chronic diseases among the Canadian population and comorbidities associated with the diseases are likely to positively impact the growth of the pharmaceutical market over the forecast period. The market is segmented by formulation type, route of administration type and prescription type, etc. Some of the leading players in the market are Pfizer, Novartis AG, and Roche.

ID: IN10CAPH020 CATEGORY: Pharmaceuticals GEOGRAPHY: Canada

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Canada Pharmaceutical Market Executive Analysis

Canada's pharmaceutical market size is at around $83.08 Bn in 2022 and is projected to reach $141.69 Bn in 2030, exhibiting a CAGR of 6.9% during the forecast period 2022-2030. The Canadian Institute for Health Information (CIHI) estimates that the total cost of healthcare in Canada was $242.6 Bn in 2020 or 11.6% of the country's GDP. Due to issues including an aging population and the rising cost of healthcare, it is anticipated that this sum will rise in the upcoming years. In Canada, public insurance programs like Medicare are used by the government to pay for the majority of healthcare expenses. Healthcare spending is also influenced by out-of-pocket costs and private insurance.

The pharmaceutical industry plays a significant role in the Canadian economy, with a number of major international pharmaceutical companies having a presence in the country. Canada is also home to a number of smaller, innovative pharmaceutical firms. The country's strong intellectual property laws and reputation for high-quality research and development make it an attractive location for pharmaceutical companies. In addition to producing a wide range of prescription and over-the-counter medications, the Canadian pharmaceutical industry is also involved in the development and production of vaccines, medical devices, and diagnostic products.

Canada Pharmaceutical Market Analysis

Market Dynamics

Market Growth Drivers

An increase in the geriatric population in Canada will eventually drive the demand for several medications, as this age group is more vulnerable to a variety of metabolic and lifestyle disorders upsurge in the incidences of chronic diseases among the Canadian population, and comorbidities associated with the diseases is likely to positively impact the growth of the pharmaceutical market over the forecast period. The Canada pharmaceutical industry is constantly evolving and adopting new technologies, such as automated dispensing systems and electronic prescription systems. These technologies can improve efficiency and accuracy, which can drive market growth.

Market Restraints

The pharmaceutical industry in Canada is highly competitive, with many pharmacies vying for customers. This can make it difficult for pharmacies to differentiate themselves from their competitors and attract business. The number of pharmacies in Canada has increased in recent years, which has led to market saturation in some areas. This can make it difficult for pharmacies to attract and retain customers. The pharmaceutical industry in Canada is heavily regulated by the government. This can create barriers to entry for new pharmacies and can also limit the ability to exist pharmacies to operate freely.

Competitive Landscape

Key Players

Johnson and Johnson (CAN)
Teva Canada (CAN)
Sanofi (CAN)
Pfizer (CAN)
Novartis AG
Roche
Bristol Myers Squibb
Merck and Co.

Healthcare Policies and Regulatory Landscape

The Patented Medicine Prices Review Board (PMPRB) is responsible for setting and regulating the prices of patented drugs in Canada. The PMPRB aims to ensure that drug prices are reasonable and reflect the value of the medicine. The Canada Health Act sets out the principles and standards for the delivery of healthcare in Canada, including the provision of pharmaceuticals. It ensures that all Canadians have access to necessary healthcare services, including prescription drugs.

Reimbursement Scenario

In Canada, public drug benefit programs and private insurance plans may have different policies for reimbursing pharmacies for the cost of prescription drugs. These policies may include criteria for what drugs are covered, as well as rules for how much the insurer or the government will pay for a particular drug. The provincial pharmaceutical benefit plans in Canada are not standardized, and there are a variety of commercial and public drug reimbursement programs available. Manufacturers must make sure their drugs are listed on the provincial formulary list in order to receive reimbursement from one or more provincial prescription insurance schemes.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Canada Pharmaceutical Market Segmentation

Molecule Type (Revenue, USD Billion):

In the pharmaceutical market, small molecule drugs account for the major part of the total Canada drug sales.

Biologics & Biosimilars (Large Molecules)
Conventional Drugs (Small Molecules)

Drug Development Type (Revenue, USD Billion):

Several benefits associated with outsourcing operations are expected to drive the segment growth at a lucrative pace over the coming years. Outsourced services minimize investments, reduce drug development & overall costs, increase the efficiency of manufacturing procedures, and easily comply with different regulatory norms.

In-house
Outsource

Formulation (Revenue, USD Billion):

Tablets
Capsules
Injectable
Sprays
Suspensions
Powders
Other Formulations

Route of administration (Revenue, USD Billion):

Oral
Topical
Parenteral
Inhalations
Other Routes of Administration

Therapy area (Revenue, USD Billion):

Cardiovascular Diseases (CVDs)
Pain
Diabetes
Cancer
Respiratory Diseases
Other Diseases

Prescription (Revenue, USD Billion):

Prescription Medicines
OTC Medicines

Age group (Revenue, USD Billion):

Children & Adolescents
Adults
Geriatric

Sales Channel (Revenue, USD Billion):

Retail
Non-retail

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.