RNCOS Releases a New Report - Generic Drug Market in Canada
Delhi, India, July 11, 2008 --(PR.com)-- RNCOS has recently added a new Market Research Report titled, "Generic Drug Market in Canada" to its report gallery. Canada represents one of the largest markets for pharmaceuticals in the world, with a huge potential for generics. Generics in 2007 accounted for more then 46% prescriptions and 19% sales out of the total pharmaceutical market. The market is currently being driven by several factors, such as patent expiry of several blockbuster drugs, lower costs, cost containment measures by the government, and rapidly ageing population.
The report thoroughly evaluates the factors that distinguish Canada from all other generic markets both in positive and negative ways. A major factor that differentiates the Canadian generic market from the US and most European markets is the comparatively high price of generics and lower price erosion. This allows manufacturers to fetch better margins from their drugs, and is a major reason which is attracting foreign players to enter this market.
Currently, drugs against chronic diseases occupy most of the pharmaceutical market, with cardiovascular drugs holding the top spot. However, strong growth is expected in other chronic segments also, particularly in cancer and diabetes.
Although the market has huge potential, growth can be significantly hampered by recent government regulations and various other challenges. However, the low cost of generics, coupled with billion dollar drug patent expiries, is expected to enable the generic market to continue its double-digit growth in the next five years.
Key Findings
- The penetration of generics is rapidly increasing in the Canadian pharmaceutical market, with generics expected to account for nearly 26% of the entire pharmaceutical sales by 2012.
- Apotex has been the leader of the Canadian generic market, controlling around 34% of the market in 2006.
- Nearly 5 Million people in Canada will be above 65 years by 2011, increasing the demand for drugs, specifically those for chronic diseases.
- Generics substitution is preferred by pharmacists as they give better returns than branded drugs.
- The top four generic companies presently control more then 70% of the generic market, but the market is expected to undergo more fragmentation in future.
- Projected growth of generics at a CAGR of 14% during 2007-2012 will surpass that of pharmaceutical market at a CAGR 7.6% during the same period.
Key Issues & Facts Analyzed
- Evaluation of past, current and future market trends.
- Discussion about the size and growth of the market.
- Study of various distribution channels prevailing in the market.
- Analysis of healthcare indicators.
- Future prospects of the generic market.
- Profile discussion of key players in this market.
- Analysis of various challenges and opportunities for the market.
Key Players Analyzed
This section provides the overview, key facts, and financial information of prominent players in the Canadian generic market, including Teva Pharmaceutical Industries Limited, Apotex Inc, Ratiopharm GmBH, Pharmascience Inc., etc.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://rncos.com/Report/IM598.htm
Current Industry News: http://www.rncos.com/Blog/
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The report thoroughly evaluates the factors that distinguish Canada from all other generic markets both in positive and negative ways. A major factor that differentiates the Canadian generic market from the US and most European markets is the comparatively high price of generics and lower price erosion. This allows manufacturers to fetch better margins from their drugs, and is a major reason which is attracting foreign players to enter this market.
Currently, drugs against chronic diseases occupy most of the pharmaceutical market, with cardiovascular drugs holding the top spot. However, strong growth is expected in other chronic segments also, particularly in cancer and diabetes.
Although the market has huge potential, growth can be significantly hampered by recent government regulations and various other challenges. However, the low cost of generics, coupled with billion dollar drug patent expiries, is expected to enable the generic market to continue its double-digit growth in the next five years.
Key Findings
- The penetration of generics is rapidly increasing in the Canadian pharmaceutical market, with generics expected to account for nearly 26% of the entire pharmaceutical sales by 2012.
- Apotex has been the leader of the Canadian generic market, controlling around 34% of the market in 2006.
- Nearly 5 Million people in Canada will be above 65 years by 2011, increasing the demand for drugs, specifically those for chronic diseases.
- Generics substitution is preferred by pharmacists as they give better returns than branded drugs.
- The top four generic companies presently control more then 70% of the generic market, but the market is expected to undergo more fragmentation in future.
- Projected growth of generics at a CAGR of 14% during 2007-2012 will surpass that of pharmaceutical market at a CAGR 7.6% during the same period.
Key Issues & Facts Analyzed
- Evaluation of past, current and future market trends.
- Discussion about the size and growth of the market.
- Study of various distribution channels prevailing in the market.
- Analysis of healthcare indicators.
- Future prospects of the generic market.
- Profile discussion of key players in this market.
- Analysis of various challenges and opportunities for the market.
Key Players Analyzed
This section provides the overview, key facts, and financial information of prominent players in the Canadian generic market, including Teva Pharmaceutical Industries Limited, Apotex Inc, Ratiopharm GmBH, Pharmascience Inc., etc.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
For more information visit: http://rncos.com/Report/IM598.htm
Current Industry News: http://www.rncos.com/Blog/
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Contact
RNCOS
Shushmul Maheshwari
91-11-4214-1229
www.rncos.com
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
Shushmul Maheshwari
91-11-4214-1229
www.rncos.com
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
Contact
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