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The Canadian pharmaceutical industry has positioned itself firmly on the global map thanks to advances in biotechnology and investments in medical research and development (R&D). The life science sector is one of Canada’s key industries, and as a sub-sector the pharma industry represents 41 percent of the country's life science gross domestic product.

“Canada’s commercially oriented research network takes innovation from lab to market; joint investment opportunities in research allow for R&D result optimization; and the responsive and efficient regulatory environment facilitates business operations,” according to information from Invest in Canada. In fact, the organization notes that 5 percent of the world’s clinical trials take place in Canada, making it one of the 10 top medical research nations on a global scale.

The Canadian pharma sector is the 10th largest in the world and accounts for 2 percent of the global market. With a population of roughly 38 million as of 2021, Canada’s pharma market share is profound, and the country is home to companies making moves.