Three Key Dynamics to Understand for Canadian Market Access
Pharmaceutical Executive, Sandra Anderson |
With pharmaceutical spending forecasted to be $39.8 billion CAD ($30.2B USD) for 2018 the Canadian market can offer significant opportunity for pharmaceutical manufacturers, but only if they are able to understand the nuances of the country’s unique regulatory, market access, and customer needs. There is a perception that the majority of Canada’s healthcare policies—and coverage—exist at the national level. But Canada is a mixed market. There are public (e.g. provincial), and private reimbursement requirements that must also be considered as part of a manufacturer’s commercialization plan. If a manufacturer is able to appropriately balance the needs, timelines, and concerns of all stakeholders, they will be in a better position to proactively plan for optimal patient access.
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