Pharma industry in Canada and Photonics

According to the Industry Canada the following is the definition of the Pharma industry in Canada: “Companies developing and manufacturing innovative medicines and generic pharmaceuticals, as well as over-the-counter drug products.”

The same source is describing the size of the Pharma industry in Canada: “2.0 percent share of the global market, making Canada the 10th largest world market. Since 2012, compound annual growth has remained positive at 4.5 percent (IQVIA Pharmafocus 2022)”

Companies undertake research and development (R&D) to develop new or improved patented therapies, while others develop bio-equivalent copies of innovative drugs once patents expire. An emerging field of biologics (a product that is produced from living organisms or contain components of living organisms) and subsequent entry biologics (SEBs are biologic product that is similar to and would enter the market subsequent to an approved innovator biologic product) is also taking shape.

The industry is clustered mainly in the metropolitan areas of Toronto, Montreal, and Vancouver.

As the national voice of Canada’s innovative pharmaceutical industry, Innovative Medicines Canada (IMC) represents 42 members from the innovative medicines and life sciences sectors. They contribute over $19 billion per year in economic activity and supports more than 30,000 high-value jobs across the Canadian economy. Member companies also invest around 10 per cent of their patented product revenues into research and development.

What is the role of photonics in the Pharma Industry in Canada?

Photonics is used extensively in the Pharma industry mainly in themachine vision and Spectroscopy, this way guaranteeing the flow in the production line and the quality of the products.

The new trends emerging as identified in the previous article of this month apply to Canada as well.

• Telemedicine offered through Photonics technology (Optical communication)
• AI-based medication development-using sensors, photonics sensors/optical sensors, and devices.
• IoT and big data to prevent pandemics in the future.In IoT Photonics sensors have an important role to play looking just at wearables and Oximeters.

Link: Advertisement: Canadian pharma industry’s current concerns, collaborative efforts and important next steps | Healthing.ca

Link Pharmaceutical industry profile – Canadian life science industry