Canadian Pharmacy Market Growing Trade Among Emerging Economies Opening New Opportunities (2023-2028)

Report Overview

The Canadian Pharmacies market size stood at USD 44.5 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

In Canada, the number of businesses is numbered around 13,492 and providing average industrial employment of 188,396 numbers as of 2020 by IBISWorld. Long-term economic, demographic, and social trends are forecast to support the Pharmacies industry over the next forecasted years. The industry will also likely benefit from Canada's aging population and increasing health consciousness. However, the loss of market share to external competitors, such as supermarkets, is projected to limit revenue growth over the period. Operators will likely respond to these trends by diversifying their revenue streams, as they continue to move away from the traditional pharmacy business model and towards new service-based models that offer more holistic health solutions.

Market Growth Drivers

The market drivers of the Canadian pharmacy industry include a rising geriatric population & increasing investment in the sector, the decline in the real price of pharma products. the Pharmacies and Drug Stores industry in Canada is projected to thrive, chiefly due to rampant consolidation activity and diversification of products and services. Canada's aging population significantly influences demand for industry products. consumers aged 65+re the major targeted market. In Canada demand for pharmaceutical products trends in line with total health expenditure, which includes public and private spending on healthcare activities. Drug expenditure is the 2nd -largest category of health spending in Canada. As a result, an increase in drug spending stimulates demand for industry products. Total health expenditure is expected to increase in the future, representing a potential opportunity for the industry.

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Major Players

The Pharmacies industry exhibits moderate market share concentration in Canada, the companies holding the largest market share in the Pharmacies in Canadian industry include Shoppers Drug Mart Corporation, McKesson Canada, Metro Inc., Pharmasave, Familiprix Inc.

The report delivers the challenges in front of the Canadian Pharmacy Market 2023 that allows a better understanding of the market providing a helpful comprehensive evaluation and clear-cut dynamics associated with this market. The analyst has studied the current market scenario while concentrating on the new business objectives with the lucrative opportunities that are available. This report includes changes in customer requirements, customer preferences, and the vendor landscape in the industry with key factors that are expected to influence the overall dynamics of the Canadian Pharmacys Market including the current trends, growth opportunities, restraints, and market drivers.

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Market Segmentation

By Industry Product and Services:

Pharmacies are focusing on increasing revenue through general retail sales, as opposed to prescription medicines sales. A typical pharmacy derives approximately one-fourth of its revenue from general retail. Discount pharmacies are among the strongest performers in the sector, deriving approximately two-thirds of their revenue from general retail sales.

By Industry activities:

By industry activities, the Canadian market is segmented into 4 major buckets such as Drug Retailing, Patent Medicine Retailing, Pharmacy Retailing and Operation, and Prescription and Non-Prescription Medicine Dispensing

By Pharmacy group:

Key pharmacy groups in the Canadian market include independent community pharmacies, banner groups, friendly societies, buying groups, discount pharmacies, Hospital pharmacies, and online-only pharmacies. The Online Pharmaceutical Sales industry is likely to be affected by higher demand for paracetamol, cold medications, and immunity-boosting vitamins following initial stockpiling actions by consumers in March 2020. Increased confidence in online shopping, as lockdown restrictions forced consumers online, is also expected to have boosted demand for industry operators.

Major Players

The Pharmacies industry exhibits moderate market share concentration in Canada, the companies holding the largest market share in the Pharmacies in Canadian industry include Shoppers Drug Mart Corporation, McKesson Canada, Metro Inc., Pharmasave, Familiprix Inc.

The Canadian Pharmacy Market report is an easy-to-understand document giving section-wise details about the global market. Starting with the brief outline of the overall market, it will put forth the all-inclusive evaluated market statistics and different parameters for the forecast period. The report covers numerous aspects of the Canadian Pharmacy market divided into product kind, application, and end-use, offering the report to assist the customers in improving their ability to make precise decisions related to the business under the Canadian Pharmacy Market.

International Market Players will use the correct market facts and figures and applied math studies provided within the report back to perceive this and future growth of the worldwide Electrophoretic Canadian Pharmacy market. Each section of the research study is specially prepared to explore key aspects of the global Canadian Pharmacy Market. Buyers of the report will have access to accurate PESTLE, SWOT, and other types of analysis on the global Canadian Pharmacy market. Moreover, it offers highly accurate estimations on the CAGR, market share, and market size of key regions and countries.

This post-pandemic business planning research will aid clients to:
• Adjust their strategic planning to move ahead once business stability kicks in.
• Build resilience by making effective resource and investment choices for individual business units, products, and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

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Our qualified team of researchers, analysts, and consultants use in-depth qualitative research, quantitative research, and the latest recognized research techniques to offer an unrivaled level of detail and value to your research activities. Our market and competitive intelligence can be utilized by teams across multiple departments, including sales and business development, marketing, to:

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• Compare financial trends between competitor companies
• Get to know about mergers and acquisitions
• Explore the strengths and weaknesses of companies cross-industry
• Improve your business modeling

Strategic Points Covered in Table of Content of Global Canadian Pharmacy Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Canadian Pharmacy market
Chapter 2: Exclusive Summary - the basic information of the Canadian Pharmacy Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Canadian Pharmacy
Chapter 4: Presenting the Canadian Pharmacy Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Canadian Pharmacy market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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