Abstract
Canada represents one of the largest markets for pharmaceuticals in the world,
with a huge potential for generics. Generics in 2007 accounted for more then
46% prescriptions and 19% sales out of the total pharmaceutical market. The
market is currently being driven by several factors, such as patent expiry of
several blockbuster drugs, lower costs, cost containment measures by the
government, and rapidly ageing population, according to "Generic Drug Market
in Canada" - a market research report that provides an exhaustive analysis on
the generic market in Canada.
The report thoroughly evaluates the factors that distinguish Canada from all
other generic markets both in positive and negative ways. A major factor that
differentiates the Canadian generic market from the US and most European
markets is the comparatively high price of generics and lower price erosion.
This allows manufacturers to fetch better margins from their drugs, and is a
major reason which is attracting foreign players to enter this market.
Currently, drugs against chronic diseases occupy most of the pharmaceutical
market, with cardiovascular drugs holding the top spot. However, strong growth
is expected in other chronic segments also, particularly in cancer and
diabetes.
Although the market has huge potential, growth can be significantly hampered
by recent government regulations and various other challenges. However, the
low cost of generics, coupled with billion dollar drug patent expiries, is
expected to enable the generic market to continue its double-digit growth in
the next five years.
Key Findings
- The penetration of generics is rapidly increasing in the Canadian
pharmaceutical market, with generics expected to account for nearly 26% of the
entire pharmaceutical sales by 2012.
- Apotex has been the leader of the Canadian generic market, controlling
around 34% of the market in 2006.
- Nearly 5 Million people in Canada will be above 65 years by 2011,
increasing the demand for drugs, specifically those for chronic diseases.
- Generics substitution is preferred by pharmacists as they give better
returns than branded drugs.
- The top four generic companies presently control more then 70% of the
generic market, but the market is expected to undergo more fragmentation in
future.
- Projected growth of generics at a CAGR of 14% during 2007-2012 will
surpass that of pharmaceutical market at a CAGR 7.6% during the same period.
Key Issues & Facts Analyzed
- Evaluation of past, current and future market trends.
- Discussion about the size and growth of the market.
- Study of various distribution channels prevailing in the market.
- Analysis of healthcare indicators.
- Future prospects of the generic market.
- Profile discussion of key players in this market.
- Analysis of various challenges and opportunities for the market.
Key Players Analyzed
This section provides the overview, key facts, and financial information of
prominent players in the Canadian generic market, including Teva
Pharmaceutical Industries Limited, Apotex Inc, Ratiopharm GmBH, Pharmascience
Inc., etc.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white
papers, industry portals, government agencies, trade associations, monitoring
industry news and developments, and through access to over 3000 paid databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, linear
regression analysis using software tools, judgmental forecasting, and cause
and effect analysis.
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