The Canadian life sciences industry is becoming versatile and dynamic from drug discovery to diagnostics and biotech. The pandemic acted as an additional catalyst to the growth of the industry further. Ontario is a thriving biotechnology sector with presence of major institutions, researchers and developers. It is the main center for research work to be carried out for cancer, neuroscience, stem cells and other clinical trials. It houses some of the important biotechnology companies as a result of which Canada is a growing market for API. Some of the prominent are Bluerock Therapeutics, CCRM, Cyclica, Deep Genomics, Evolve Biologics Inc, Fusion Pharmaceuticals, Microbix Bio systems, Notch Pharmaceuticals among others. The Canadian Government for 2021 proposed to invest over $3 billion toward Canadian researchers and science, which includes the support of cutting-edge life sciences research and biotechnology. The Canada Biomedical Research Fund also considers to invest $250 million over four years starting in 2022-2023 and the Biosciences Research Infrastructure Fund has pledged to invest $500 million over four years starting in 2021-20222. This is all in summation to the approximately $3 billion provided annually to Canadian companies through the Scientific Research and Development tax incentive program. According to Bonafide Research report title,” Canada Active Pharmaceutical Ingredients Market Overview, 2027” the Canadian API market is expected to grow at a valuation of more than 4% in terms of CAGR. The market is being divided into several observations specifically by type, by therapeutic application and by end user type. Where, it is being observed that the synthetic API market is dominating over the years and has the largest number of market share. As the demand for biotech products are being raised because of its natural properties and free of any chemicals. The increased demand for the biotech product can be stated as the market driver for the biotech API. The rising number of cases of infected people is also one of the reasons that drive the market demand for APIs. Because of the COVID-19 outbreak the demand for the biotech API increased. As the citizens shifted their interest towards the biologics and the natural goods. The biotech API has been showing growth in the upcoming years and is expected to cover up the market for the future. The biotech API market is slowly growing in the upcoming years in terms of a CAGR. The therapeutic application of oncology is expected to increase the demand for API that cures the oncology diseases. As almost about 2 in 5 people are expected to develop cancer during their lifetime. The major reason for the cancer cases in Canada is the rising in the ageing population of Canadians. Oncology is particularly known as a disease that negatively affects the structure of the body. Diabetes is another reason which drives the growth of the market for the APIs. It is estimated that almost 200-400 cases of diabetes are rising every year in Canada because of which Canadians consume more APIs in order to cure diabetes. The market size of APIs through diabetes is almost growing in terms of CAGR to more than 6%. The reason for the diabetes is the rise in ageing population and the growing level of inactiveness and obesity. The captive APIs are the ones which are used for in house production of the complete dosage forms. Keeping in mind the consumers' health the Canadian government took several steps like importers need to submit all the GMP requirements. The GMP stands for the good manufacturing practices for drugs. The same is regulated by Health Canada, the GMP assures the quality of drug produced and controls the quality of the drug produced. Considered in this report • Geography: Canada • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Canada active pharmaceutical ingredient market • Application wise API market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Based on therapeutic application type of API in the report: • Communicable diseases • Oncology • Diabetes • Cardiovascular diseases • Pain management • Respiratory diseases • Other therapeutic application Based on Synthesis type of API in the report: • Synthetic API • Biotech API By Type of manufacturer in the report: • Captive API • Biotech API The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to pharmaceutical industry, API manufacturing industries, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample