Abstract
Sales of pharmaceuticals to Canadian pharmacies and hospitals grew in value by only 1.4% last year — the lowest growth rate recorded in over 30 years. And this long-term growth trend is likely going to end this year, says IMS Brogan, the Canadian business unit of IMS Health.
In its latest analysis of the pharmaceutical market, IMS Brogan reports that sales were valued at $22.4 billion in 2010. The company predicts that figure will actually decline this year, by as much as 6%.
The slower growth and the projected decline in pharmaceutical sales value are fuelled by 2 main factors, according to IMS Brogan: the expiration of patents for a number of major drugs and drug system reforms aimed at reducing generic drug prices.
Generic prescription products continue to increase as a percentage of the market, reaching 57.1% of total market share in 2010, up from 54.3% in 2009.
IMS Brogan also reports that in 2010, Lipitor lost its position as the most-prescribed drug in Canada (in terms of prescription volume), following loss of its patent last May. The number one position is now held by the thyroid hormone Synthroid.