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From Wall Street to the pill cabinet?
Investigating the impact of the recession on prescription drug sales in Canada
A research report by Brogan Inc.
This report will:
- Find if the decline in prescription drug sales is attributable to economic conditions
- Forecast the recession impact on rate of growth of prescription drug sales over the next 24 months at national and regional levels and smaller geographic areas where applicable.
- Compare public vs. privately insured market segments to determine growth in each. (Regional level)
- Determine if the number of active privately insured patients is actually declining or if the trend line has changed. (Regional level)
- Analyze the trends among branded products vs. comparable generic product.
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The Canadian economy is experiencing its most serious setback in decades. Stock markets, construction, resources and manufacturing sectors have been hit hard and large scale layoffs are frequently announced in the press. Consumer sentiment is at the lowest point since most measurements began and most Canadians have experienced a loss in wealth due to falling investments and house prices. With unemployment rising, fear of job loss has contributed to declining retail sales for many types of goods.
The pharmaceutical market is viewed by most observers as one of the most recession-resistant industries. Nonetheless, multiple data sources are pointing to a decline in overall market growth, coinciding with the stock market crash and subsequent decline in GDP.
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Growth rates were calculated comparing each quarter to the same quarter in the previous year. Source: Brogan GPM® |
Assuming there is indeed a slowing of pharmaceutical sales, understanding the cause is critical to decisions stakeholders will have to make in the months and years to come. From manufacturers to pharmacies and drug plans, stakeholders need facts and analysis on which to base their decisions.
Brogan Inc.’s data resources and experienced health economics team can help any client to forecast the growth of their specific business, whether it be major molecules, markets, territory sales, or virtually any other business segment.
Our analyses draw from many of Brogan Inc.’s exclusive data assets, including:
- GPM®: Brogan Inc.’s premium source for measuring true national retail prescription demand levels by dollars spent, prescriptions dispensed, units and days of therapy for all Rx drugs dispensed at every retail outlet in Canada down to the smallest geographic reporting area.
- PharmaStat®: The most comprehensive database of actual Canadian drug plan reimbursements reporting 100% of public and 67% of private drug plan dollars, claims and units.
- Brogan Inc.’s panel of 5,800 census level reporting pharmacies
Publicly available economic forecasts and other types of external data are used as applicable.
To obtain a copy of this study, complete and return the order form.
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