Canada Pharmaceutical Market Size & Outlook, 2024-2030
Canada pharmaceutical market, 2018-2030 (US$M)
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Canada pharmaceutical market highlights
- The Canada pharmaceutical market generated a revenue of USD 59,088.3 million in 2024 and is expected to reach USD 89,046.7 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.1% from 2025 to 2030.
- In terms of segment, conventional drugs (small molecules) was the largest revenue generating molecule in 2024.
- Biologics & Biosimilars (Large Molecules) is the most lucrative molecule segment registering the fastest growth during the forecast period.
Pharmaceutical market data book summary
| Market revenue in 2024 | USD 59,088.3 million |
| Market revenue in 2030 | USD 89,046.7 million |
| Growth rate | 7.1% (CAGR from 2025 to 2030) |
| Largest segment | Conventional drugs (small molecules) |
| Fastest growing segment | Biologics & Biosimilars (Large Molecules) |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics & Biosimilars (Large Molecules), Conventional Drugs (Small Molecules) |
| Key market players worldwide | Merck & Co Inc, Roche Holding AG, Novartis AG ADR, AbbVie Inc, Johnson & Johnson, Pfizer Inc, Bristol-Myers Squibb Co, Sanofi SA, GSK PLC, Takeda Pharmaceutical Co Ltd |
Other key industry trends
- In terms of revenue, Canada accounted for 3.6% of the global pharmaceutical market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. pharmaceutical market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 27,766.2 million by 2030.
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Pharmaceutical Market Scope
Pharmaceutical Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada pharmaceutical market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmaceutical market will help companies and investors design strategic landscapes.
Conventional drugs (small molecules) was the largest segment with a revenue share of 58.1% in 2024. Horizon Databook has segmented the Canada pharmaceutical market based on biologics & biosimilars (large molecules), conventional drugs (small molecules) covering the revenue growth of each sub-segment from 2018 to 2030.
The Canadian pharmaceutical market is experiencing significant growth, driven by an aging population, increased prevalence of chronic diseases, and rising healthcare expenditures. In 2024, total health spending in Canada is expected to reach approximately USD 372 billion, or about USD 9,054 per person, with healthcare expenditures projected to increase by 5.7% in the year.
This continued rise in healthcare costs is reflective of broader trends in the market, including an expanding geriatric population, which necessitates a higher demand for medications across various therapeutic areas.
This demographic shift has led to a surge in the consumption of both branded and generic drugs. Branded pharmaceuticals, developed by companies such as F. Hoffmann-La Roche Ltd., Novartis AG, AbbVie Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc., Pfizer Inc., Bristol-Myers Squibb Company, Sanofi, GSK plc, and Takeda Pharmaceutical Company Limited, continue to play a pivotal role in introducing innovative therapies to the market.
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Target buyers of Canada pharmaceutical market databook
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Our clientele includes a mix of pharmaceutical market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada pharmaceutical market , including forecasts for subscribers. This country databook contains high-level insights into Canada pharmaceutical market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada pharmaceutical market size, by molecule, 2018-2030 (US$M)
Canada Pharmaceutical Market Outlook Share, 2024 & 2030 (US$M)
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