Life Sciences»Pharmaceuticals»Prescription Drugs
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from $1,995 | 228 Pages | GlobalData | July, 2017 | GBDT15469554 |
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Price | from $1,995 |
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Length | 228 Pages |
Publisher | GlobalData |
Published Date | July, 2017 |
SKU | GBDT15469554 |
CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Canada
Summary
Canada is a mature healthcare market, with a strong focus on pharma R&D and a high level of total healthcare expenditure that is 11% of its Gross Domestic Product (GDP). The increasing elderly population and its associated disease burden are expected to drive the growth of the pharmaceutical market, while government initiatives to reduce healthcare expenditure may limit growth. The value of the Canadian pharmaceutical market increased from US$19.6 Billion in 2009 to US$22.6 Billion in 2016, at a Compound Annual Growth Rate (CAGR) of 2%. The market value is expected to reach US$25 Billion in 2021.
In 2016, the value of the generic pharmaceutical market was US$6.16 Billion. In 2016, generic drugs accounted for 70.2% of prescriptions in Canada, compared with 89% in the US. However, generic drug sales account for only 22.4% of the US$25.1 Billion pharmaceutical market. The use of generic medicines saved nearly US$20 Billion for the government in 2016. The generics market is expected to continue to grow as the government promotes generics usage and as quality perception improves among patients.
In 2016 healthcare expenditure in Canada stood at US$228.1 Billion, an increase of US$44.8 Billion from 2015. In 2009, the healthcare expenditure as a percentage of GDP was 11.6%, which decreased to an estimated 11.1% in 2016. In 2009, health expenditure per capita was approximately US$4,497, which increased to an estimated US$6,299 in 2016. The increasingly elderly population and associated disease burden have been driving the growth of the pharmaceutical market. In 2016, the elderly population accounted for 17% of the total population, and this is expected to increase at a CAGR of 3.7% to 20% by 2021.
Canadian medical device market was valued at US$8.6 Billion in 2009, which increased to US$10.5 Billion in 2016, and it is expected to grow at a CAGR of 4.2% from US$11.4 Billion in 2017 to US$13.4 Billion in 2021. The main segments were ophthalmic devices, orthopedic devices, drug delivery devices, in vitro diagnostics and healthcare IT.
The report CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Canada is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape in Canada.
In particular, this report provides the following analysis -
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