The value added of pharmaceutical and medicine manufacturing in Canada has shown robust growth over the past decade, increasing from 4.8663 billion CAD in 2013 to 9.7726 billion CAD in 2023. This represents a consistent upward trend with some fluctuations. Between 2013 and 2017, a significant year-on-year increase of 26.42% in 2014 was followed by minor declines and a notable recovery in 2017. The last five years saw consistent growth, with an average CAGR of 7.11% from 2018 to 2023. In 2023, the industry stood at 9.7726 billion CAD.

Future trends to watch for:

Expected CAGR of 3.9% for the next five years indicating steady but slowing growth.
Industry value projected to reach 12.507 billion CAD by 2028, signaling a 21.07% overall increase.
Potential impact of advanced biotechnologies and personalized medicine driving innovation and growth.