Pharmacists

Saskatchewan Pharmacy Sector Helps Grow the Economy

Fri, Mar 16, 2018

March 12, 2018

We most often think of pharmacies as contributors to hometown health care services.  But Saskatchewan’s 365 community pharmacies also make a major contribution to the economic health and well-being of our communities.

The Conference Board of Canada documents the scale of that contribution in its recently completed report titled, The Value of Community Pharmacy: An Economic Footprint of the Community Pharmacy Sector in Saskatchewan.

Providing nearly 5,800 jobs across Saskatchewan, provincial pharmacies generate an estimated $305 million in gross domestic product (GDP)[1], and account for almost 8 percent of the provincial health sector. 

“Pharmacies across Saskatchewan occupy a special place in that we are both healthcare service providers and we also serve our communities as employers, taxpayers, and drivers of economic output,” said Paul Bazin, Chair, Pharmacy Association of Saskatchewan. “The fact that our sector also improves the economic health of our communities is often overlooked in conversations.”

The research was conducted in early 2018 for the Canadian Pharmacists Association (CPhA), the Neighbourhood Pharmacy Association of Canada (NPAC), and the Pharmacy Association of Saskatchewan (PAS), to determine the economic impact of the provincial pharmacy sector for the province and the country. 

The report puts that contribution into dollars and cents, using Statistics Canada data for 2016, the most recent year for which data are available.  Some highlights:

  • Pharmacies contributed about $305 million in GDP to the Province—nearly 8% percent of the provincial health sector GDP.
  • Saskatchewan pharmacies account for close to 5,800 jobs in the province.
  • The sector generates $204.5 million in labour income among Saskatchewan residents.
  • Nationally, the total economic footprint of Saskatchewan’s 365 pharmacies is estimated at over $457.4 million in GDP and more than 7,200 jobs across Canada.

Related

For more information:

Dawn Martin, CEO

Pharmacy Association of Saskatchewan (PAS)

Dawn.Martin@skpharmacists.ca    

Tel: 306.359.7277

 

[1] GDP or Gross Domestic Product is defined as the monetary value of the goods and services produced in a given period, usually annually, as a measure of economic output.

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