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Canada Pharmaceuticals and Healthcare Report Q3 2009
Business Monitor International, June 2009, Pages: 73
Canada Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulartory bodies with independent forecasts and competitive intelligence on Canada's pharmaceutical and healthcare industry
For BMI’s Pharmaceutical and Healthcare Q309 Report for Canada, we believe the total drug market value will increase from US$22.4bn in 2008 to US$37.2bn by 2013, representing a compound annual growth rate (CAGR) of 10.7% in US dollar terms. We believe that the generic and patented drug markets will reach proportions by value of 26% and 62% of the total drug market sector, respectively, by 2013. We believe that the main drivers for growth include the 16% increase in the health burden that noncommunicable diseases will present for the country through to 2030.
Canada is the only country on the North and Central American continent to appear on the United States Trade Representative (USTR) Special 301 Priority Watch List in 2009, despite the IP shortcomings of the developed nations including Mexico and Guatemala. Its inclusion appears to have arisen from ongoing delays in reforming copyright laws, particularly with regard to counterfeit product entry and circulation within the country. The earlier submission from the Trade Association of the Pharmaceutical Manufacturers of America (PhRMA) outlined that data exclusivity was not universally enforced for drugs that are not marketed in Canada, despite the implementation of the 2006 legislation amendment to this effect.
The main concerns indicated by PhRMA relate to the regulation and protection of patented drugs and the premature entry of generic medicines into the healthcare market. Innovative pharmaceutical firms will be discouraged from investing in the Canadian drug market while such biases remain and we would urge the government to reform its medicine regulatory policy in order to remove the country from the priority watch list. BMI cautions that Canada’s inclusion on this list will deal a blow to the pharmaceutical and biotech industry within the country, particularly since the state is trying to encourage investment into this sector.
In BMI’s Business Environment Rankings for Q309, Canada is once again placed third out of the 10 Americas markets surveyed, having been overtaken by Puerto Rico in Q408. The new rating criteria serve to reinforce our estimation of the country’s potential owing to a stronger emphasis on the regulatory environment, which we see as a major factor affecting the business environment for drugmakers.
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