Regulatory Services in Canada
The Canadian pharmaceutical industry is a highly lucrative, advanced and well developed. The Canadian pharmaceutical market is set to grow to around $25 billion by 2021.
In 2019, total health expenditure in Canada was expected to reach $265.5 billion, or $ 7064 per person. It is anticipated that, overall, health spending represented 11.5% of Canada's gross domestic product (GDP). With the healthcare industry sponsored by government, spending per person is not a limiting factor and hence large and small - both companies have their own share in the market. Canada is a net importer of pharmaceutical, food and other related products.
In 2016, the value of the generic pharmaceutical market was $6.2 billion, with generic drugs accounting for around 70% of prescriptions in Canada, compared with 89% in the US.
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