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Canada Pharmaceuticals & Healthcare Report Q2 2007Published by: Business Monitor International Published: May. 1, 2007 - 65 Pages Table of Contents
AbstractCanada’s drug market is one of the most developed in the world and is displaying solid growth, with BMI forecasting that drug expenditure will reach US$23.9bn by 2011. However, as we underline in our newly released Q207 Canada Pharmaceuticals & Healthcare report, the industry is being challenged by a government emphasis on cost-containment, as provincial governments and private-sector payers struggle to afford their health obligations As a result, the consumption of low-cost generic is on the increase. In 2006, 45% of all prescriptions were for generics. Industry observers expect this ratio to soon increase to 60%, as encouraging low-cost alternatives is preferable to cutting patient benefits. As the majority of these products are sourced locally, indigenous firms such as Apotex are likely to benefit. Meanwhile, plans in the US to liberalise the laws concerning the parallel import of pharmaceuticals from Canada will also have a strong impact on the market. The re-import of prescription drugs into the US is likely to be a key growth driver for the export sector, although some commentators are concerned that this could restrict the supply of essential drugs in Canada. The US legislators are also debating whether to allow internet pharmacies in Canada to send drugs to the US. If approved, this could see a marked increase in the flow of drugs over the border. Currently, the US FDA has warned US consumers against buying medicines from these sources amid fears of counterfeit or unlicensed drugs entering into the supply stream.Expenditure on healthcare in Canada reached US$129.2bn in 2006, an increase of US$7.1bn on 2005, but lower than the average increases of the previous six years, according to the Canadian Institute for Health Information (CIHI). Hospitals are responsible for the majority of spending, accounting for 29.8% of total health expenditure. Pharmaceuticals - both prescribed and over-the-counter (OTC) - take the second largest share (17%), while physicians are the third-largest cost (13.1%). Get Full Details About This Report >> |
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