Generics Market in Canada Set for Splendid Growth
Backed by factors like patent expiration of branded drugs and rising government support, the generic market in Canada is expected to reach CAD 9.4 Billion by 2013.
- (1888PressRelease) October 30, 2010 - According to our latest research report entitled "Generic Drug Market in Canada", generic drugs represent the fastest growing segment of Canadian pharmaceutical industry. The affordability and availability of generics have increased during the past few years, which have led to the fast growth in revenue patterns of players. In 2009, the market for generic drugs reached to the value of CAD 5.5 Billion and is expected to grow at the CAGR of 14% during 2009-2013, to reach CAD 9.4 Billion by 2013. Government support in the form of cost containment measures and rebates along with patent expiration of blockbuster drugs are some of the important factors that will boost the growth of sector.
The report identifies retail pharmacies as one of the leading sources in direct channels for generic drugs distribution. In 2009, retail pharmacies sold around worth CAD 5.1 Billion of generic drugs and around CAD 15 Billion of branded drugs. The channel is expected to contribute a large proportion of selling in near future also as provincial governments are increasing activities to provide more drugs to people.
The report "Generic Drug Market in Canada" is a complete source of knowledge and analysis regarding Canadian generic drugs sector with complete emphasis on data reliability and authentication. The report has covered all the important aspects of generic drug market and elaborated significant proportion of current market trends and their future outcome. Sections like 'generics market performance' and 'regulatory environment' provides an in-depth market analysis and key activities by the government respectively. These sections measure industry in terms of key statistics and current regulatory mechanisms that have a major impact on current revenue patterns and future growth.
The report is an outcome of in-depth research and prudent analysis of generic sector in Canada with effective presentation and forecasting in key areas. The forecasting in report relies on suitable methods and techniques that further enhance reliability in future projection. Moreover, the key activities and description of market players have been provided in the report. Overall, the report is expected to enhance decision-making process and knowledge portfolio of clients.
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