These external market forces, when combined with an increasingly competitive global corporate dynamic for investment and improved return, have and will continue to reshape their operations.
Slowing global growth continues in 2012, at a pace of 3.5% through June 2012 and slower than the 5% experienced in 20.
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IMS Brogan and Industry Canada worked collaboratively in producing this discussion paper.
The analysis leveraged data and information from Industry Canada's existing research, combined with the insight and intelligence of IMS Brogan's experts and offerings.
This discussion paper assesses Canada's current pharmaceutical industry and the dynamics within the industry in the context of Canadian and global market performance.
The paper highlights the medium term outlook for the industry, identifying key factors that shape the industry in coming years.Figure 1 illustrates the trend in Canada and global dollar sales growth and shows Canadian annual growth rate.The pace of growth in the global market has also slowed but remains stronger than Canada's, largely due to the strong growth in emerging markets.These strategies include adopting new business models built upon external networks and third party partnerships focused on medical research and development.This trend towards a business model that relies on outsourcing of many business functions, including manufacturing, is providing contract service providers (CSPs) in Canada with growth opportunities.One of the biggest issue going forward is the ability of Canadian companies to successfully compete with other countries on many keys factors including cost, talent and market attractiveness; market attractiveness as defined by regulatory requirements, market access, IP legislation and pricing controls.