Countries covered: Finland
Espicom’s in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts.
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Additional Information
Finland is one of the most northern countries in Europe and covers around 338,000km2, of which 10% is water. The population is estimated to be 5.3 million in 2009, resulting in a population density of 17.1 people per square kilometre.
Healthcare expenditure has continued its steady growth in the past few years, increasing by 4.6% in 2006 to 13.6 billion euros (US$17.1 billion), with private expenditure accounting for approximately 24.0% of the total.
The import of pharmaceuticals to Finland increased by 53.9% between 2004 and 2008 to reach US$2.3 billion in 2008. In 2008, Finland exported US$1.0 billion of pharmaceuticals, of which 94.9% was in the form of retail medicaments. During the period 2004-2007, domestic production increased by 25.9%, amounting to 818.1 million euros (US$1,121.4 million) in 2007.
The Finnish market for pharmaceuticals is predicted to increase by 4.6% per annum at constant prices to attain a value of US$4.4 billion by 2014. The current market size is estimated to be US$3.4 billion, equal to US$647 per capita.
However, Finland is likely to be affected by the global economic downturn, with GDP real growth expected to fall to -5.7% in 2009, according to figures from the Economist Intelligence Unit, and beginning to recover by 2011 with a real growth of 1.8%.
There are very few large domestic producers in Finland. The largest, Orion Pharma, claims to hold a market share of approximately 8.8%. Pfizer Oy and Leiras Oy claim to have market shares of 4.8% and 4.5%, respectively. Related Reports:
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