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Report
Canada Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032
Market Report I 2024-03-02 I 121 Pages I IMARC Group
The Canada generic drug market size reached US$ 9.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.2 Billion by 2032, exhibiting a growth rate (CAGR) of 7.6% during 2024-2032. The growing number of hospitals and clinics, favorable government initiatives, and the rising prevalence of chronic diseases represent some of the key factors driving the market.
Generic drugs are medications created to be the same as an already marketed brand-name drug in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use. They work in the same way and provide the same clinical benefits as the brand-name medicine. They meet the same high standards of quality and manufacturing and use active ingredients to offer the same benefits as the patent medicines. They can be oral, intravenous, intramuscular, nebulizer, and topical. They are highly cost-effective as the drug manufacturer does not have to duplicate the original clinical trials for effectiveness and safety. They are easily available and patients do not need to investigate far to find alternatives to popular non-generic medicines. As they are usually covered by insurance companies due to their low cost, the demand for generic drugs is rising in Canada.
Canada Generic Drug Market Trends:
At present, the increasing demand for generic drugs among the masses due to the patent expiry of various branded drugs in Canada represents one of the key factors supporting the growth of the market. Besides this, there is a rise in the demand for generic drugs as they are highly affordable on account of lower requirements for research and development (R&D) activities, physician visits, and marketing. This, along with the thriving pharmaceutical industry in Canada, is propelling the growth of the market. In addition, the growing awareness among individuals about the benefits of generic drugs is positively influencing the market. Moreover, governing agencies of Canada are promoting the usage of generic drugs through various mechanisms, such as tax incentives, subsidies, and market access arrangements. They are also organizing campaigns to create awareness among people about the benefits of generic drugs, which is contributing to the growth of the market. Apart from this, the wide availability of generic drugs through offline and online distribution channels is offering lucrative growth opportunities to industry investors in Canada. Additionally, the rising prevalence of chronic diseases, such as cancer, heart disease, stroke, diabetes, and arthritis, is strengthening the growth of the market. In line with this, the growing number of hospitals and clinics providing high-quality healthcare facilities to patients in Canada is offering a favorable market outlook.
Report Coverage:
The market report by IMARC Group provides extensive coverage of the performance of the generic drug market in Canada. The study provides in-depth information about the value and volume trends, COVID-19 impact, and market forecast from 2024-2032.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the Canada generic drug market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Apotex Inc., Mylan Pharmaceuticals ULC, Pharmascience Inc., Sandoz AG, Sun Pharma Industries Ltd., Teva Pharmaceutical Industries Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report
1. What was the size of the Canada generic drug market in 2023?
2. What is the expected growth rate of the Canada generic drug market during 2024-2032?
3. What are the key factors driving the Canada generic drug market?
4. What has been the impact of COVID-19 on the Canada generic drug market?
5. Who are the key players/companies in the Canada generic drug market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Canada Generic Drug Market: Introduction
4.1 What are Generics?
4.2 Unbranded and Branded Generics
4.3 Authorized Generics
4.4 Specialty Generics
5 Why is the Generic Drug Market So Lucrative in Canada
5.1 Blockbuster Drugs Facing Patent Expiration
5.2 Substantial Price Difference Between Branded and Generic Drugs
5.3 Government Incentives
5.4 Savings for Drug Purchasers
5.5 Biosimilars
5.6 Ageing Population and Increasing Prevalence of Life Style Diseases
6 Global Generic Drug Market
6.1 Generic Drug Market Performance
6.1.1 Value Trends
6.1.2 Volume Trends
6.2 Market Breakup by Country
6.3 Most Prescribed Generic and Branded Drugs
6.4 Market Forecast
7 Canada Generic Drug Market
7.1 Canada Pharmaceutical Market Performance
7.1.1 Value Trends
7.1.2 Volume Trends
7.1.3 Market by Type
7.1.4 Market Forecast
7.2 Canada Generic Drug Market Performance
7.2.1 Value Trends
7.2.2 Volume Trends
7.2.3 Impact of COVID-19
7.2.4 Market Forecast
8 SWOT Analysis
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 Value Chain Analysis
9.1 Research and Development
9.2 Manufacturing
9.3 Marketing
9.4 Distribution
10 Pricing Mechanism and Profit Margins at Various Levels of Supply Chain
11 Porter's Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Canada Generic Drug Market: Competitive Landscape
12.1 Canada Generic Drug Market - Competitive Structure
12.2 Canada Generic Drug Market - Sales Breakup of Key Players
12.3 Canada Generics Distribution - Breakup by Channel
12.4 Canada Generic Drug Market - Average Retail Price Per Prescription (Generic vs. Branded)
13 Canada Generic Drug Market: Key Success Factors
14 Canada Generic Drug Market: Road Blocks
15 Canada Generic Drug Market: Regulatory Framework
15.1 Overview of Pharmaceutical Regulations
15.2 Pre-Market Drug Submission Requirements for Generic Drugs
15.3 Review Process for Generic Drugs
15.4 Generic Drug Approval and Declaration of Its Bioequivalence
15.5 Other Important Consideration
16 Generic Drug Manufacturing Process
16.1 Manufacturing Process
16.2 Raw Material Requirements
16.3 Raw Materials Pictures
16.4 Land and Construction Requirements
16.5 Machinery and Infrastructure Requirements
16.6 Machinery Pictures
16.7 Plant Layout
16.8 Packaging Requirements
16.9 Utility Requirements
16.10 Manpower Requirements
17 Canada Generic Drug Market - Key Company Profiles
17.1 Apotex Inc.
17.2 Mylan Pharmaceuticals ULC
17.3 Pharmascience Inc.
17.4 Sandoz AG
17.5 Sun Pharma Industries Ltd.
17.6 Teva Pharmaceutical Industries Limited
Figure 1: Structure of the Pharmaceutical Industry
Figure 2: Classification of Generic Drugs
Figure 3: Canada: Patent Expiry Exposure (in Billion US$)
Figure 4: Canada: Savings from Generic Drugs (in Billion US$), 2018-2023
Figure 5: Global: Generic Drug Market: Sales Value (in Billion US$), 2018-2023
Figure 6: Global: Generic Drug Market: Sales Volume (in Billion Units), 2018-2023
Figure 7: Global: Generic Drug Market: Sales Value Breakup by Country (in %), 2023
Figure 8: Global: Generic Drug Market: Sales Volume Breakup by Country (in %), 2023
Figure 9: Global: Generic Drug Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 10: Global: Generic Drug Market Forecast: Sales Volume (in Billion Units), 2024-2032
Figure 11: Canada: Pharmaceutical Market: Sales Value (in Billion US$), 2018-2023
Figure 12: Canada: Pharmaceutical Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 13: Canada: Pharmaceutical Market: Sales Volume (in Million Prescriptions), 2018-2023
Figure 14: Canada: Pharmaceutical Market Forecast: Sales Volume (in Million Prescriptions), 2024-2032
Figure 15: Canada: Pharmaceutical Market: Sales Volume Breakup of Branded and Generic Drugs (in %), 2018 and 2023
Figure 16: Canada: Pharmaceutical Market: Sales Value Breakup of Branded and Generic Drugs (in %), 2018 and 2023
Figure 17: Canada: Generic Drug Market: Sales Value (in Billion US$), 2018-2023
Figure 18: Canada: Generic Drug Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 19: Canada: Generic Drug Market: Sales Volume (in Million Prescriptions), 2018-2023
Figure 20: Canada: Generic Drug Market Forecast: Sales Volume (in Million Prescriptions), 2024-2032
Figure 21: Canada: Generic Drug Market: Sales Breakup of Key Players (in %)
Figure 22: Canada: Generic Drug Market: Average Retail Price Per Prescription (Generics vs. Branded- in US$ Per Prescription), 2018-2023
Figure 23: Canada: Generic Drug Industry: SWOT Analysis
Figure 24: Canada: Generic Drug Industry: Value Chain Analysis
Figure 25: Pricing Trends and Profit Margins at Various Levels of Supply Chain
Figure 26: Canada: Generic Drug Industry: Porter's Five Forces Analysis
Figure 27: Canada: Generic Drug Market: Regulatory Framework for Generic Drugs
Figure 28: Generic Drug Manufacturing: Detailed Process Flow
Figure 29: Generic Drug Manufacturing: Plant Layout
Table 1: Canada: Sales and Patent Expiry of Major Drugs Expected to Lose Patent Protection (in Billion US$)
Table 2: Global: Generic Drug Market: Sales Volume and Growth of Major Markets, 2023
Table 3: Global: Generic Drug Market: Volume Performance of Top Generic Drugs (in Million Prescriptions), 2023
Table 4: Global: Branded Drug Market: Volume Performance of Top Branded Drugs (in Million Prescriptions), 2023
Table 5: Canada: Distribution of Generic Drugs: Breakup by Channel (in %), 2023
Table 6: Generic Drug Manufacturing Plant: Raw Material Requirements
Table 7: Generic Drug Manufacturing Plant: Land and Construction Requirements
Table 8: Generic Drug Manufacturing Plant: Machinery Requirements
Table 9: Generic Drug Manufacturing Plant: Utility Requirements
Table 10: Generic Drug Manufacturing Plant: Manpower Requirements
Table 11: Generic Drug Manufacturing Plant: Packaging Requirements
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