Canada Generic Drug Market: Industry Trends, Growth, Share, Size and Forecast Till 2023

1. Canada Generic Drugs Market Research Report, Trends, Growth, Share and Forecast Till 2023 Copyright © IMARC Service Pvt Ltd. All Rights Reserved

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3. Report Description and Highlights Report Description Canada Generic Drugs Market Share, Size, Industry Trends, Growth and Key Players  The Canada generic drugs market has witnessed a steady growth over the past several years. This can be accredited to the aging population coupled with increasing government support for research and development in the pharmaceutical industry. Market Overview: The latest report by IMARC Group, titled “Canada Generic Drugs Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the Canada generic drugs market reached a value of US$ 6.0 Billion in 2017. Generic drug refers to a medication that has the same active ingredients and therapeutic effect as that of a branded drug. These drugs can be oral, intravenous, intramuscular, topical or inhalant. Generic drugs do not involve marketing on a large-scale due to the established safety and efficacy profile of their branded counterparts. Moreover, they are almost 5 times cheaper than branded drugs as they do not require extensive research and clinical trials which save both money and time for the manufacturers. At present, Canada is the ninth-largest generic drug market worldwide, accounting for nearly 3% of the global share. Over the past several years, the acceptance of generic drugs in Canada has increased, and these drugs now account for around 70% of the total retail prescriptions in the country.

4. Report Description and Highlights Report Description Canada Generic Drugs Market Trends: Canada continues to face substantial healthcare challenges in terms of rising prevalence of lifestyle and chronic diseases such as depression, cardiovascular diseases (CVDs), cancer, chronic respiratory diseases (CRDs), diabetes and anxiety disorders. This, coupled with the growing geriatric population, has created a huge demand for cost-effective drugs in the country. The government has introduced public drug programs such as the Ontario Drug Benefit (ODB) Program and Trillium Drug Program as an initiative to provide universal healthcare in the country. Although these programs utilize both brand-name and generic drugs, they encourage the physicians and patients to opt for generic medicines wherever available so as to reduce the overall drug expenditure. In addition, the Canadian government is supporting R&D activities so as to strengthen the country’s expertise in specialty areas and biotech products. The rising number of patent expiries of branded drugs is further expanding the growth prospects of the generic drugs market in the region. However, the higher price of generic drugs available in Canada, as compared to the other industrialized countries, have been responsible for hampering the growth of the market. Looking forward, the generic drugs market in Canada is projected to reach a value of US$ 6.7 Billion by 2023, growing at a CAGR of 1.9% during 2018-2023. Canada Generic Drug Market Segmentation: Request for a sample report: https://www.imarcgroup.com/request?type=report&id=700&flag=B

5. Market Forecast Sample Figure: Canada: Generic Drug Market Forecast: Sales Volume (in Million Prescriptions), 2018-2023

6. Market Segmentation Report Description • Canada Generic Drugs Market Competitive Landscape: • The Canada generic market is concentrated in nature with the top five players dominating the total market share. • Teva Pharmaceutical Industries Limited • Apotex Inc • Sandoz Inc • Sun Pharma Industries Ltd • Pharmascience Inc • Mylan N.V • In case you have a very specific customized or specific niche needs, we can work around the scope of work and assist you with the tailor made solution. The topics covered could be technology, markets, competition, pricing trends, P&L analysis, cost analysis, price bench marking or it could also be supplementing you with the weekly or fortnight reports.

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10. Report Description and Highlights Report Description © 2018 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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