New Report Finds Canada's Pharmacy Sector Contributes Nearly $23 Billion to the Economy and Supports More Than 273,000 Jobs

TORONTO, July 2, 2026 /CNW/ - Canada's pharmacies do far more than dispense medications and deliver frontline healthcare services. They are major contributors to the country's economy, according to a new report released by Signal49 Research.

The Economic Footprint of Canada's Pharmacy Sector: Fuelling Health and Local Economies finds that Canada's pharmacy sector generates an annual economic impact of $22.9 billion in GDP, supports more than 273,000 jobs, generates $14 billion in labour income, and contributes $6.3 billion in tax revenues across all levels of government (based on 2024 economic data).

Canada's network of 12,558 pharmacy locations, nearly two-thirds of which are independently owned or banner-affiliated community pharmacies, serves communities in every province and territory and plays a vital role in both healthcare delivery and local economic development.

"We know that Canadians see their local pharmacy as a trusted healthcare destination, but this research demonstrates that pharmacies are also critical economic infrastructure," said Sandra Hanna, CEO, Neighbourhood Pharmacy Association of Canada. "Pharmacies support hundreds of thousands of jobs, strengthen local economies, generate billions in government revenues, and improve access to care in communities of every size. As governments focus on growing Canada's economy and strengthening healthcare access, pharmacies are uniquely positioned to advance both priorities."

Among the report's key findings:

• $22.9 billion in annual GDP generated by Canada's pharmacy sector
• More than 273,000 jobs supported across the Canadian economy
• $14 billion in labour income and $6.3 billion in tax revenues generated annually
• For every $1 of direct pharmacy output, an additional $0.20 in economic activity is created elsewhere in the economy
• Each pharmacy job supports approximately 0.4 additional jobs in other sectors
• Rural pharmacies employ more than one in every 100 rural residents and help address healthcare access gaps in underserved communities
• Economic impacts are felt nationwide, including $8.4 billion in GDP and 96,000 jobs in Ontario and $6.1 billion in GDP and 79,000 jobs in Quebec

"The research highlights pharmacy's uniquely dichotomous contribution to Canada," said Eddy Nason, Director, Health, Signal49 Research. " It's a business, a significant economic driver, and a frontline healthcare service operating at a time of major upheaval in primary care," he said. "That means pharmacy isn't just an economic engine--it's an economic engine with purpose."

As governments prioritize economic growth, productivity, healthcare access, and community resilience, the report demonstrates that pharmacies are critical partners in achieving those goals. With a presence in virtually every community across Canada, pharmacies serve as both essential healthcare infrastructure and critical economic infrastructure. In doing so, they support healthier populations, stronger local economies, and a more resilient Canada.

The full report, The Economic Footprint of Canada's Pharmacy Sector: Fuelling Health and Local Economies, is available in English and French.

About the Neighbourhood Pharmacy Association of Canada

Neighbourhood Pharmacies represents Canada's leading pharmacy organizations, including chain, banner, long-term care, specialty pharmacies, grocery chains, and mass merchandisers with pharmacies. We advocate for pharmacies' role in caring for Canadians, both behind and in front of the counter. We aim to advance sustainable healthcare for all stakeholders by leveraging over 12,000 pharmacies conveniently located in virtually every community throughout the country. Pharmacies are integral points of patient care.

For further information: Neighbourhood Pharmacy Association of Canada 

About Signal49 Research

Signal49 Research is the country's leading independent research organization. For more than seven decades, Signal49 Research has been providing research that supports evidence-based decision making to solve Canada's toughest problems. Follow Signal49 Research on LinkedIn at the link here. For more information on our organization, please visit the link here.

The Economic Footprint of Canada's Pharmacy Sector was prepared by Signal49 Research with financial support and data provided by the Neighbourhood Pharmacy Association of Canada.

SOURCE Neighbourhood Pharmacy Association of Canada

Media Contact: Alison Kraayvanger, Neighbourhood Pharmacy Association of Canada, [email protected], 437-214-5980