Research and Markets: Canada Pharmaceuticals and Healthcare Report Q3 2012

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/vvp5ml/canada_pharmaceuti) has announced the addition of the "Canada Pharmaceuticals and Healthcare Report Q3 2012" report to their offering.

“Canada Pharmaceuticals and Healthcare Report Q3 2012”

The Canada Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Canada's pharmaceuticals and healthcare industry.

BMI View: According to the Canadian Institute for Health Information, the growth of spending on prescription drugs in Canada slowed to its lowest level since 1996 in 2011, when it came in at just 4% year-on-year (y-o-y). This slowdown was attributed to the expiration of certain blockbuster drugs' patents, which will continue to place downward pressure on the growth of the overall pharmaceutical market in the country. Nevertheless, epidemiological demands of an ageing population will serve to counterbalance some of those pressures to a degree, even though we continue to expect that the generic drug market will significantly outperform its patented counterpart. In the meantime, market access for innovative products remains hampered by differential reimbursement policies across Canada's provinces and also by the lacking patent protection environment.

Headline Expenditure Projections

- Pharmaceuticals: CAD26.28bn (US$26.57bn) in 2011 to CAD26.46bn (US$25.69bn) in 2012; +0.7% growth in local currency terms and -3.3% growth in US dollar terms. Forecast down slightly from Q212 on account of macroeconomic factors.

- Healthcare: CAD181.47bn (US$183.47bn) in 2011 to CAD188.19bn (US$182.71bn) in 2012; +3.7% growth in local currency terms and -0.4% growth in US dollar terms. Forecast down slightly from Q212 on account of macroeconomic factors.

- Medical Devices: CAD6.52bn (US$6.59bn) in 2011 to CAD6.78bn (US$6.58bn) in 2012; +3.9% growth in local currency terms and -0.2% growth in US dollar terms. Forecast down slightly from Q212 on account of macroeconomic factors.

Risk Reward: In BMI's Risk/Reward Ratings for Q312, Canada is again placed second in our regional matrix, which ranks 17 key markets. Canada's composite score is some 3% lower than previously, which had itself been lowered at the end of 2011, on account of the previous revisions of its pharmaceutical market growth downward.

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