The Canadian pharmaceutical goods market exhibited variable growth patterns from 2012 to 2022. During the early years from 2012 to 2014, the market saw fluctuations with a peak in 2013 and a sharp decline in 2014, resulting in a negative CAGR of -2.18% by 2015. The period from 2016 to 2019 was characterized by more stability, albeit with slight declines, leading to an overall negative growth trend. In 2020, the market experienced a significant decline of -18.02%, likely due to disruptions caused by the COVID-19 pandemic. A notable recovery occurred in 2021 with a 32.05% increase, before another drop of -9.42% in 2022.
For future trends, it's crucial to monitor the impact of COVID-19 recovery measures, advances in biotechnology, regulatory changes, and the adoption of digital health solutions. A continued focus on sustainability and the increasing importance of personalized medicine could also shape the market dynamics in the coming years. As of 2023, the market size stood at a considerable value, and these factors will likely contribute to the evolving landscape.
How does Canada rank in Pharmaceutical Goods Market Size Value?
# | 41 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 Japan | 3,945,000,000 | 2023 | +1.25% | +1.12% | View data |
2 | 2 Germany | 3,201,100,000 | 2023 | -1.13% | -2.07% | View data |
3 | 3 France | 2,232,000,000 | 2023 | -2.43% | -2.05% | View data |
4 | 4 Italy | 1,865,500,000 | 2023 | -1.63% | -2.55% | View data |
5 | 5 United Kingdom | 1,766,700,000 | 2023 | -1.52% | -0.63% | View data |
6 | 6 Canada | 1,385,200,000 | 2023 | -0.35% | -0.46% | |
7 | 7 Spain | 1,172,700,000 | 2023 | -3.14% | -4.6% | View data |
8 | 8 South Korea | 1,042,300,000 | 2023 | +3.96% | +4.18% | View data |