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.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.To knowabout market, click here: http://www.imarcgroup.com/canada-generic-drug-market

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

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Canada Generic Drug Market Driven by Changing Demographics and Government
Initiatives
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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5. Report DescriptionReport Description and Highlights
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 driver
• 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.
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.

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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.
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