Healthcare Market Research Report: August 2017

Monday 21 August 2017

Canada Generic Drug Market Share, Size , Price Trends and Forecast 2017-2022

The Canada generic drug market has witnessed a significant growth over the past several years, reaching a volume of around 0.46 Billion Units in 2016. This can be attributed to public and private sector drugs programs and healthcare initiatives promoting the use of generic drugs.

Canada currently represents the ninth-largest generic drug market worldwide, accounting for nearly 3% of the total global share. The share of generic drugs in the pharmaceuticals market has increased significantly over the past several years. At present, generic drugs account for around 70% of the total retail prescriptions, and 22% of the total pharmaceutical sales value in the region. This can be attributed to the various public and private sector drug programs aimed at cost-containment and increasing awareness about generic drugs. The latest report by IMARC Group titled, “Canada Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the Canada generic drug market reached a volume of around 0.46 Billion Units in 2016, growing at a CAGR of around 8% during 2010-2016.

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Highlights of the Canada Generic Drug Market:

Generic drugs account for nearly 70% of the total retail prescriptions in Canada.
Changing demographics and government initiatives are the major growth drivers.
Patent expiry of a number of blockbuster drugs is expected to provide growth opportunities.

Population growth, changing demographics, increasing prevalence of chronic diseases and a rise in the use of drug therapy are projected to put more pressure on Government healthcare initiatives such as the ‘drug benefit plans’ operative in the Canadian territories and provinces. As the sustainability of these programmes is largely dependent on the use of generic drugs, the demand for these drugs is expected to increase over the next several years. Moreover, the patent expiry of a number of blockbuster drugs is also anticipated to expand the generic drug market in Canada. According to the report, the market is further expected to reach a volume of nearly 0.7 Billion Units by 2022.

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The report analyses the competitive landscape of the market and provides details of the major players in the market. Some of these include Teva Pharmaceutical Ltd., Apotex Inc., Snadoz Canada, Actavis, Mylan, Pharmascience Inc., Taro Pharmaceuticals, Novartis, Ranbaxy Pharmaceuticals Canada and Hospira. The report provides a comprehensive insight into the historical and current trends as well as the future prospects of the generic drug market in Canada. This study serves as an exceptional tool to understand the sales trends, volume trends, growth, key segments, competitive structure, regulations, major manufacturer, major distributors, top drugs, manufacturing requirements, opportunities and future prospects of the Canada generic drug market. This report can serve as an excellent guide for manufacturers, consultants, researchers, marketing strategists and all those who plan to foray into the Canada generic drug market in any form.

Browse more related reports:

Brazil Generic Drug Market: Industry Trends, Share, Size, Growth, Forecast and Opportunity 2017-2022

Japan Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

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Brazil Generic Drug Market Share, Size , Price Trends and Forecast 2017-2022

Brazil generic drug market has grown at a CAGR of 15% during 2010-2016. Some of the factors which have facilitated the market growth include government initiatives, increase in aging-population and growth in the rate of lifestyle diseases.

The latest report by IMARC Group titled, “Brazil Generic Drug Market: Industry Trends, Share, Size, Growth, Forecast and Opportunity 2017-2022”, finds that the Brazil generic drug market reached a value of more than US$ 80 Billion in 2016, growing at a CAGR of around 15% during 2010-2016. In 1999, a law was passed by the government of Brazil – The Generic Drugs Law – which allowed the substitution of generic drugs for trademark branded drugs. This law authorized laboratories to handle and sell drugs, thereby enabling commercialisation and availability of previously more expensive branded drugs after the expiry of their patents. This has helped in improving the quality of drugs and facilitating the consumers to access quality drug treatment.

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Highlights of Brazil generic drug market:

The Generic Drugs Law gave impetus to the market and helped in improving the quality of the generic drugs.
Free distribution of medicines for the treatment of various diseases by the government and public health system provide stimulus for the market growth.
The factors such as increasing aging-population and growing lifestyle diseases have further driven the demand for generic drugs in the region.

The Brazilian generic drug market has been spurred by the active participation of the government and health-care organizations. Besides passing the Generic Drugs Law, the government has also made constant efforts in promoting the sales of generic drugs. Most importantly, The Brazilian Federal Government represents the biggest pharmaceutical client itself. It distributes free contraceptives and medicines for hypertension, asthma, diabetes, Parkinson's, glaucoma, osteoporosis and rhinitis through their programmes and initiatives. Moreover, the Brazilian public health system; the Sistema Único de Saúde, avails generic versions of the medicines for the treatment of various diseases such as AIDS, tuberculosis, Alzheimer, Hepatitis, transplants, Lupus, etc. Some of the other factors which have contributed in influencing the market include an increase in the aging-population and the growing prevalence of lifestyle diseases. Considering the developments, the market is further expected to reach a value of almost US$ 190 Billion by 2022.

To get more infromation, please visit @ http://www.imarcgroup.com/brazil-generic-drug-market

The report examines the competitive landscape of the market and provides the details of the major players of the market such as EMS S.A., Sanofi Group, Eurofarma Laboratórios S.A., Hypermarcas S.A., Sandoz, Ache Laboratories and União Química Farmacêutica Nacional S.A. The report also provides an in-depth analysis on the historical, current and future trends in the generic drug market in Brazil. This research report serves as an exceptional tool to understand the drivers, sales trends, volume trends, market structure, competitive landscape, regulations, key players, manufacturing and the outlook of generic drugs in Brazil. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who want to gain an insight into the market for generic drugs in Brazil.