The research firm said that in 2009, the market for generic drugs reached to the value of C$5.5 billion and is expected to grow at the CAGR of 14 percent during 2009-2013, to reach C$9.4 billion by 2013.
Government support in the form of cost containment measures and rebates along with patent expiration of blockbuster drugs are some of the important factors that will boost the growth of sector, said RNCOS.
The research report identifies retail pharmacies as one of the leading sources in direct channels for generic drugs distribution. In 2009, retail pharmacies sold around worth C$5.1 billion of generic drugs and around C$15 billion of branded drugs.
The channel is expected to contribute a large proportion of selling in near future also as provincial governments are increasing activities to provide more drugs to people.
The report has covered all the important aspects of generic drug market and elaborated significant proportion of current market trends and their future outcome. Sections like 'generics market performance' and 'regulatory environment' provides an in-depth market analysis and key activities by the government respectively.
According to RNCOS, these sections measure industry in terms of key statistics and current regulatory mechanisms that have a major impact on current revenue patterns and future growth.
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