Canada Pharmaceutical Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Pharmaceutical Companies in Canada and the Market is Segmented by ATC/Therapeutic Class (Alimentary Tract and Metabolism, Blood and Blood-Forming Organs, Cardiovascular System, Dermatologicals, Genito Urinary System and Sex Hormones, Systemic Hormonal Preparations, Antiinfectives for Systemic Use, Antineoplastic and Immunomodulating Agents, Musculoskeletal System, Nervous System, Antiparasitic Products, Insecticides and Repellents, Respiratory System, Sensory Organs, and Various Other ATC/Therapeutic Classes) and Drug Type (Prescription Type (Branded and Generic) and OTC Drugs). The Report Offers the Value (in USD Million) for the Above Segments.

Canada Pharmaceutical Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Canada Pharmaceutical Market Size

Canada Pharmaceutical Market Summary
Study Period 2021 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 34.91 Billion
Market Size (2030) USD 43.92 Billion
CAGR (2025 - 2030) 4.70 %
Market Concentration Medium

Major Players

Canada Pharmaceutical Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Canada Pharmaceutical Market Analysis

The Canada Pharmaceutical Market size is estimated at USD 34.91 billion in 2025, and is expected to reach USD 43.92 billion by 2030, at a CAGR of 4.7% during the forecast period (2025-2030).

Factors such as the rising geriatric population and growing incidence of chronic diseases among the population are expected to boost the growth of the pharmaceutical market in Canada over the forecast period.

The rising burden of chronic diseases such as cancer, cardiovascular diseases, neurological diseases, diabetes, and obesity among the population is the key factor driving the demand for various drugs for treatment, which may bolster the market’s growth over the forecast period. For instance, according to the Canadian Cancer Society 2023 report, about 27 people living in Canada were likely to be diagnosed with cancer every hour. About 239,100 new cases of cancer were estimated to be diagnosed in Canada in 2023. Thus, the country's high number of cancer patients is anticipated to fuel the demand for cancer-treating drugs, thus boosting market growth over the forecast period.

Additionally, according to the 2024 updated data published by the International Diabetes Federation, about 2.9 million people living in Canada had diabetes in 2021, and this number is projected to reach 3.2 million and 3.4 million by 2030 and 2045, respectively. Thus, the expected increase in the diabetic population raises the risk of developing other chronic diseases, such as cardiovascular and kidney diseases. This factor is anticipated to fuel the demand for drugs to treat diabetes conditions, propelling the market’s growth.

Furthermore, the growing aging population in the country is the key factor driving the demand for various drugs, which is anticipated to fuel the market’s growth over the forecast period. For instance, according to a 2022 report published by Statistics Canada, about 7.6 million people aged 65 and older were living in Canada in 2023, and this number is projected to reach 11 million by 2043. Thus, an increase in the geriatric population will eventually drive the demand for several medications, as this age group is more vulnerable to a variety of metabolic and lifestyle disorders, diminished bodily functions, cognitive impairment, and less mobility. Hence, these factors are anticipated to propel market growth.

Thus, owing to the rising prevalence of cancer and diabetes and the growing geriatric population, the market is expected to project growth over the forecast period. However, high costs associated with some pharmaceutical medications are expected to hinder the growth of the pharmaceutical market in Canada over the forecast period.

Canada Pharmaceutical Industry Overview

The Canadian pharmaceutical market is highly competitive and consists of several major players. A few of the major players are currently dominating the market in terms of market share. Some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions in the country. Some key companies currently dominating the market are Johnson & Johnson, Novartis AG, Merck & Co. Inc., Pfizer Inc., and Bayer AG.

Canada Pharmaceutical Market Leaders

  1. Johnson & Johnson

  2. Merck & Co., Inc.

  3. Pfizer Inc.

  4. Bayer AG

  5. Novartis AG

  6. *Disclaimer: Major Players sorted in no particular order
Canada Pharmaceutical Market Concentration
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Canada Pharmaceutical Market News

  • October 2023: Panacea Biotec launched Paclitaxel protein-bound particles for injectable suspension (albumin-bound), which is indicated for the treatment of metastatic breast cancer, non-small cell lung cancer, and adenocarcinoma of the pancreas in the Canadian market through its strategic partner, Apotex Inc. of Canada.
  • March 2023: Natco Pharma introduced a generic version of the cancer drug Pomalidomide Capsules in Canada. It is the first generic alternative to Celgene Corporation’s Pomalyst brand in the country, approved by Health Canada. Pomalidomide is used in combination with Dexamethasone and Bortezomib for the treatment of multiple myeloma in adults.

Canada Pharmaceutical Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
    • 4.1.1 Healthcare Expenditure (Govt. vs Private)
    • 4.1.2 Pharmaceutical Imports and Exports
    • 4.1.3 Epidemiology Data for Key Diseases
    • 4.1.4 Regulatory Landscape/Regulatory Bodies
    • 4.1.5 Licensing and Market Authorization (For Both Local Production and Imported Goods)
    • 4.1.6 Pipeline Analysis
    • 4.1.6.1 By Phase
    • 4.1.6.2 By Sponsor
    • 4.1.6.3 By Disease
    • 4.1.7 Statistical Overview
    • 4.1.7.1 Number of Hospitals
    • 4.1.7.2 Employment in the Pharmaceutical Sector
    • 4.1.7.3 R&D Expenditure
    • 4.1.8 Ease of Doing Business
  • 4.2 Market Drivers
    • 4.2.1 Rising Geriatric Population
    • 4.2.2 Rising Incidence of Chronic Disease
  • 4.3 Market Restraints
    • 4.3.1 Highly Expensive Drugs
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Threat of New Entrants
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Bargaining Power of Suppliers
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By ATC/Therapeutic Class
    • 5.1.1 Alimentary Tract and Metabolism
    • 5.1.2 Blood and Blood-forming Organs
    • 5.1.3 Cardiovascular System
    • 5.1.4 Dermatologicals
    • 5.1.5 Genito Urinary System and Sex Hormones
    • 5.1.6 Systemic Hormonal Preparations
    • 5.1.7 Antiinfectives for Systemic Use
    • 5.1.8 Antineoplastic and Immunomodulating Agents
    • 5.1.9 Musculoskeletal System
    • 5.1.10 Nervous System
    • 5.1.11 Antiparasitic Products, Insecticides, and Repellents
    • 5.1.12 Respiratory System
    • 5.1.13 Sensory Organs
    • 5.1.14 Various Other ATC/Therapeutic Classes
  • 5.2 By Drug Type
    • 5.2.1 By Prescription Type
    • 5.2.1.1 Branded
    • 5.2.1.2 Generic
    • 5.2.2 OTC Drugs

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 Johnson & Johnson
    • 6.1.2 Novartis AG
    • 6.1.3 Abbott Laboratories
    • 6.1.4 Merck & Co. Inc.
    • 6.1.5 Pfizer Inc.
    • 6.1.6 F. Hoffmann-La Roche AG
    • 6.1.7 Bristol Myers Squibb Company
    • 6.1.8 Eli Lilly and Company
    • 6.1.9 AbbVie Inc.
    • 6.1.10 Apotex Inc.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments
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Canada Pharmaceutical Industry Segmentation

As per the scope of this report, pharmaceuticals are referred to as medications or medicinal drugs intended to prevent, diagnose, treat, or cure a disease. They may be prescription or non-prescription drugs. The Canadian pharmaceutical market is segmented by ATC/therapeutic class and drug type. The ATC/therapeutics class is segmented by Alimentary tract and metabolism, blood and blood-forming organs, cardiovascular system, dermatological, Genito urinary system and sex hormones, systemic hormonal preparations, antiinfectives for systemic use, antineoplastic and immunomodulating agents, musculoskeletal system, nervous system, antiparasitic products, insecticides and repellents, respiratory system, sensory organs, and various other ATC/therapeutic classes. The drug type segment is further bifurcated into prescription type and OTC drugs. Prescription type is segmented into branded and generic. The report offers the value (in USD) for the above segments.

By ATC/Therapeutic Class Alimentary Tract and Metabolism
Blood and Blood-forming Organs
Cardiovascular System
Dermatologicals
Genito Urinary System and Sex Hormones
Systemic Hormonal Preparations
Antiinfectives for Systemic Use
Antineoplastic and Immunomodulating Agents
Musculoskeletal System
Nervous System
Antiparasitic Products, Insecticides, and Repellents
Respiratory System
Sensory Organs
Various Other ATC/Therapeutic Classes
By Drug Type By Prescription Type Branded
Generic
OTC Drugs
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Canada Pharmaceutical Market Research FAQs

How big is the Canada Pharmaceutical Market?

The Canada Pharmaceutical Market size is expected to reach USD 34.91 billion in 2025 and grow at a CAGR of 4.70% to reach USD 43.92 billion by 2030.

What is the current Canada Pharmaceutical Market size?

In 2025, the Canada Pharmaceutical Market size is expected to reach USD 34.91 billion.

Who are the key players in Canada Pharmaceutical Market?

Johnson & Johnson, Merck & Co., Inc., Pfizer Inc., Bayer AG and Novartis AG are the major companies operating in the Canada Pharmaceutical Market.

What years does this Canada Pharmaceutical Market cover, and what was the market size in 2024?

In 2024, the Canada Pharmaceutical Market size was estimated at USD 33.27 billion. The report covers the Canada Pharmaceutical Market historical market size for years: 2021, 2022, 2023 and 2024. The report also forecasts the Canada Pharmaceutical Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Pharmaceutical in Canada Industry Report

Canada's pharmaceutical market is experiencing a period of significant growth, driven by an aging population, a rise in chronic diseases, and advancements in healthcare technologies. This growth is supported by the presence of both major international and innovative smaller companies, capitalizing on Canada's strong intellectual property laws and high-quality R&D environment. The market, with its diverse segments including formulation types, routes of administration, and prescription types, is set for considerable expansion. Key growth drivers include the increasing geriatric population and chronic diseases, boosting medication demand, alongside the adoption of new technologies like automated dispensing and electronic prescription systems to improve efficiency. However, challenges such as intense competition, market saturation, and stringent regulations may hinder growth. Trends like the rising demand for OTC drugs and growth in segments like alimentary tract and metabolism, due to the increasing prevalence of metabolic disorders and continuous product launches, indicate a dynamic market. With detailed segmentation and a forecast outlook provided by industry reports, the Canadian pharmaceutical market is poised for robust growth, reflecting the evolving healthcare landscape. Get a sample of this industry analysis as a free report PDF download.