The pharmaceutical industry's export market share in Canada stood at 1.19% in 2023. Forecasted data for 2024 to 2027 indicates a gradual decline, with market share values decreasing from 1.18% in 2024 to 1.15% in 2027. This implies a steady year-on-year decrease of approximately 0.85%.

Over the past two years, the market share variance has been a decline of 0.84%, reflecting a consistent diminishing trend. When considering the compound annual growth rate (CAGR) over the last five years, the average decrease is approximately 0.84% per year.

Future trends to watch for:

Increased global competition could further impact Canada's export market share in the pharmaceutical industry.
Regulations and trade policies might also play a crucial role.
Innovations in pharmaceutical research and development within Canada could potentially offset the declining trend.