$2.7bn
$XXX.Xm
11,887
209
$XXX.Xm
Generic pharmaceuticals account for nearly three-fourths of all prescription drugs dispensed yearly in Canada. Generic pharmaceutical manufacturers are critical to this supply and have an invaluable role in public health and saving patients and insurers millions. Rapid population growth, rising incomes and a growing population of over 65 in Canada in recent years have also contributed to jumps in prescription spending. Despite this importance, the industry's revenue growth hinges on federal and provincial pricing policies, brand name patent expirations and competition from imports and other domestic manufacturers. In the last five years, revenue has been dropping at a CAGR of 1.8% to an estimated $2.7 billion, with an expected growth of 0.4% in 2024.
Industry revenue has declined at a CAGR of 1.8 % over the past five years, to reach an estimated $2.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Pharmascience | 587.6 | 85.4 | 14.5 | |
Apotex | 556.4 | 80.9 | 14.5 | |
Novartis | 334.4 | 73.9 | 22.1 |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Generic Pharmaceutical Manufacturing in Canada
Industry revenue is measured across several distinct product and services lines, including Nervous system and cardiovascular system, Antineoplastic and immunomodulating agents and Alimentary tract and metabolism. Nervous system and cardiovascular system is the largest segment of the Generic Pharmaceutical Manufacturing in Canada.
Antineoplastic and immunomodulating agents benefit from expiring patents
Generic pharmaceutical manufacturers produce medications that are bioequivalent to brand-name drugs that regulatory agencies have already approved. These drugs contain the same active ingredients, dosage form, strength and intended use as the original brand-name drugs.
Purchase this report to view all 6 major companies in this industry.
NAICS 325410 - Generic Pharmaceutical Manufacturing in Canada
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Generic drugs were responsible for over three-quarters of total dispensed prescriptions in Canada in 2023. While patients' and healthcare professionals’ acceptance of generic...
Learn about an industry's products and services, markets and trends in international trade.
Generic manufacturers are responsible for supplying chain pharmacies with prescription drugs. Manufacturers see the highest sales of generic drugs from chain pharmacies.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Toronto is the center of Canada’s life sciences sector. The city’s concentration of talent, research institutions, infrastructure and government support attract established i...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Generic pharmaceutical manufacturers are navigating an increasingly competitive market. When a branded drug’s patent expires, generic producers can flood the market, creating...
Learn about the performance of the top companies in the industry.
Apotex is the largest generic pharmaceutical producer in Canada. The company's extensive portfolio of generic medications allows it to serve a broad range of therapeutic area...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
A complex regulatory framework oversees nearly every aspect of generic drug production. Manufacturers must navigate challenges surrounding federal and provincial requirements...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Procuring inputs is the largest expense for generic pharmaceutical manufacturers. Raw materials are essential to producing generic drugs but sourcing APIs introduces a comple...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Generic Pharmaceutical Manufacturing industry in Canada is $2.7bn in 2024.
There are 209 businesses in the Generic Pharmaceutical Manufacturing industry in Canada, which has grown at a CAGR of 3.5 % between 2019 and 2024.
The market size of the Generic Pharmaceutical Manufacturing industry in Canada has been declining at a CAGR of 1.8 % between 2019 and 2024.
Over the next five years, the Generic Pharmaceutical Manufacturing industry in Canada is expected to grow.
The biggest companies operating in the Generic Pharmaceutical Manufacturing market in Canada are Pharmascience, Apotex and Novartis
Gaining regulatory approval for generic drugs and Developing and producing generic drugs are part of the Generic Pharmaceutical Manufacturing industry.
The company holding the most market share in Canada is Pharmascience.
The level of competition is high and increasing in the Generic Pharmaceutical Manufacturing industry in Canada.