Finland Pharmaceutical Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Finland Pharmaceutical Companies and the market is Segmented by ATC/Therapeutic Class (Alimentary Tract and Metabolism, Blood and Blood Forming Organs, Cardiovascular System, Dermatological, Genito Urinary System and Sex Hormones, Systemic Hormonal Preparations, Anti-infectives For Systemic Use, Antineoplastic and Immunomodulating Agents, Musculo-Skeletal System, Nervous System, Antiparasitic Products, Insecticides and Repellents, Respiratory System, Sensory Organs, and Other ATC/Therapeutic Classes), Drug Type (Branded and Generic), and Type (Prescription Drugs (Rx) and OTC). The market provides the value (in USD million) for the above-mentioned segments.

Finland Pharmaceutical Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Finland Pharmaceutical Market Size

Finland Pharmaceutical Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 3.90 %

Major Players

Finland Pharmaceutical Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Finland Pharmaceutical Market with other markets in Healthcare Industry

Biotechnology

Pharmaceuticals

Healthcare IT

Medical Devices

Animal Health

Device Drug Combination

Finland Pharmaceutical Market Analysis

The Finland Pharmaceutical Market is expected to register a CAGR of 3.9% during the forecast period.

According to the Finnish Medicines Agency, data updated in 2022, the COVID-19 pandemic in Finland did not significantly impacted medication availability. To avoid complications even if the situation persists, Finnish healthcare and pharmaceutical operators collaborated closely to prevent shortages. Companies evaluated the effects of the COVID-19 outbreak on production and the state of supply chains and stocks in collaboration with pharmaceutical producers and importers. The authorities were closely observing the situation with other companies in the industry. For instance, the European medical authorities in Finland exchanged updates on the issues faced within the country regularly. To support the continued availability of medicines in the European Union (EU), the European Medicines Agency (EMA) supports developing and approving safe and effective treatments and vaccines. It also supports the provision of accurate information to patients and healthcare professionals. In March 2021, Finnish academic- Rokote Laboratories Finland Ltd. worked on developing and marketing a nasal spray vaccine targeting COVID-19. The vaccine performed well in in-vivo studies with animal models. Hence, the studied market witnessed significant growth and is expected to grow over the forecast period.

Factors such as the rising incidence of chronic diseases and growing research and development (R&D) investments in the country are expected to boost market growth over the forecast period.

The increasing country's spending on pharmaceutical products indicates the high demand for drugs, which is expected to fuel the market growth. For instance, according to the International Trade Administration, US Department of Commerce, data updated in June 2023, Finland imported USD 2.52 billion in pharmaceutical products. It exported USD 1.24 billion in 2022 compared to USD 2.46 billion and USD 978 million in the previous year. Also, as per the source mentioned above, the Finnish population spent an estimated USD 4 billion on pharmaceutical products in 2020, representing a 1% increase from the preceding year. Additionally, as per the data published by Orion Corporation in its 2022 Financial Statement, the company reported net sales of EUR 321.9 million (USD 354.92 million) pharmaceutical products in Finland in 2022 as compared to EUR 33.4 million (USD 36.83 million) in 2021. Thus, the increasing revenue indicates the high demand for pharmaceutical products. It urges the company to develop innovative drugs for treating various diseases, hence expected to augment the market growth over the forecast period.

Furthermore, the increasing focus of the government and institutions to accelerate drug development initiatives in the country is also expected to fuel market growth. For instance, in March 2022, iCAN, in partnership with the University of Helsinki, HUS Helsinki University Hospital, and other company partners, launched the iCAN Flagship Project. It enables broad genomic and molecular profiling of cancers in Finland for improving treatments. Also, in February 2022, the Minister of Family Affairs and Social Services, Krista Kiuru, signed an agreement on establishing the National Drug Development Centre to promote competitive drug development. Such initiatives are anticipated to fuel the development of novel drugs for treating chronic disease patients, propelling the market growth.

Also, the growing number of grants and project launches by the companies increases drug research and development activities in the country, which is anticipated to propel the growth of the pharmaceutical market over the forecast period. For instance, in March 2023, Orion launched a project to build a unique data and AI-based pharmaceutical research ecosystem in Finland in cooperation with other companies, research institutes, and universities. Business Finland allocated over EUR 10 million (USD 11.03 million) to Orion, and nearly EUR 20 million (USD 22.05 million) is reserved for the research institutions and companies participating in the ecosystem to be created. The project aims to reduce the time required to discover and produce breakthrough medications by utilizing artificial intelligence and enhancing data processing and analysis. Such initiatives are expected to create new competencies by bringing together experts in disease biology, pharmaceutical research, and data science, bolstering market growth.

Therefore, the studied market is expected to grow over the forecast period due to growing demand for pharmaceutical products, increasing company spending in research activities, launches of drug development projects, and funding. However, the highly expensive patented drugs are likely to hinder the growth of the pharmaceutical market in Finland over the forecast period.

Finland Pharmaceutical Industry Overview

The Finland pharmaceutical market is highly competitive and consists of several major players. A few major players are currently dominating the market in terms of market share. Some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions in the country. Some key companies currently dominating the market are AbbVie Inc., AstraZeneca plc, Bayer AG, C.H. Boehringer Sohn AG & Ko. KG, and GlaxoSmithKline plc, among others.

Finland Pharmaceutical Market Leaders

  1. AbbVie Inc.

  2. AstraZeneca plc

  3. Bayer AG

  4. C.H. Boehringer Sohn AG & Ko. KG

  5. GlaxoSmithKline plc

  6. *Disclaimer: Major Players sorted in no particular order
Finland Pharmaceutical Market Concentration
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Finland Pharmaceutical Market News

  • August 2023: Finland granted EUR 10 million to Orion in funding and EUR 20 million for the development of a pharmaceutical research ecosystem in Finland to reduce the time taken by pharmaceutical R&D to develop drugs.
  • July 2023: Biovian Oy, a contract development and manufacturing organization (CDMO) specializing in biopharmaceuticals, invested EUR 50 million to expand its drug manufacturing facility in Turku, Finland. The new facility supports the development, manufacturing, and testing of advanced therapy medicinal products (ATMP) such as adenoviral and adeno-associated viral (AAV) therapies.

Finland Pharmaceutical Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions & Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
    • 4.1.1 Healthcare Expenditure
    • 4.1.2 Pharmaceutical Imports and Exports
    • 4.1.3 Epidemiology Data For key Diseases
    • 4.1.4 Regulatory Landscape/Regulatory Bodies
    • 4.1.5 Licensing and Market Authorization
    • 4.1.6 Pipeline Analysis
    • 4.1.6.1 By Phase
    • 4.1.6.2 By Sponsor
    • 4.1.6.3 By Disease
    • 4.1.7 Statistical Overview
    • 4.1.7.1 Number of Hospitals
    • 4.1.7.2 Employment in the Pharmaceutical Sector
    • 4.1.7.3 R&D Expenditure
    • 4.1.8 Ease of Doing Business
  • 4.2 Market Drivers
    • 4.2.1 Significant research and development programs
    • 4.2.2 Rising Incidence of Chronic Disease
  • 4.3 Market Restraints
    • 4.3.1 Highly Expensive Patented Drugs
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers/Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products
    • 4.4.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size by Value - USD )

  • 5.1 By ATC/Therapeutic Class
    • 5.1.1 Alimentary Tract and Metabolism
    • 5.1.2 Blood and Blood Forming Organs
    • 5.1.3 Cardiovascular System
    • 5.1.4 Dermatologicals
    • 5.1.5 Genito Urinary System and Sex Hormones
    • 5.1.6 Systemic Hormonal Preparations,
    • 5.1.7 Antiinfectives For Systemic Use
    • 5.1.8 Antineoplastic and Immunomodulating Agents
    • 5.1.9 Musculo-Skeletal System
    • 5.1.10 Nervous System
    • 5.1.11 Antiparasitic Products, Insecticides and Repellents
    • 5.1.12 Respiratory System
    • 5.1.13 Sensory Organs
    • 5.1.14 Other ATC/Therapeutic Classes
  • 5.2 By Prescription Type
    • 5.2.1 Prescription Drugs (Rx)
    • 5.2.1.1 Branded
    • 5.2.1.2 Generic
    • 5.2.2 OTC Drugs

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 AbbVie Inc.
    • 6.1.2 AstraZeneca plc
    • 6.1.3 Bayer AG
    • 6.1.4 C.H. Boehringer Sohn AG & Ko. KG
    • 6.1.5 GlaxoSmithKline plc
    • 6.1.6 F. Hoffmann-La Roche AG
    • 6.1.7 Bristol Myers Squibb Company
    • 6.1.8 Eli Lilly and Company
    • 6.1.9 Merck & Co., Inc.
    • 6.1.10 Sanofi S.A.
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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Finland Pharmaceutical Industry Segmentation

As per the scope of this report, pharmaceuticals are referred to as prescribed and non-prescription drugs. These medicines can be bought by an individual with or without a doctor's prescription and are safe for consumption for various illnesses with or without the doctor's consent. The Finland Pharmaceutical Market is segmented by ATC/Therapeutic class (alimentary tract and metabolism, blood and blood-forming organs, cardiovascular system, dermatological, Genito urinary system and sex hormones, systemic hormonal preparations, antiinfectives For systemic use, antineoplastic and immunomodulating agents, musculoskeletal system, nervous system, antiparasitic products, insecticides and repellents, respiratory system, sensory organs, and other ATC/Therapeutic classes), prescription type (prescription Drugs (Rx) (branded and generic)), and OTC drugs). The report offers the value (in USD) for the above segments.

By ATC/Therapeutic Class Alimentary Tract and Metabolism
Blood and Blood Forming Organs
Cardiovascular System
Dermatologicals
Genito Urinary System and Sex Hormones
Systemic Hormonal Preparations,
Antiinfectives For Systemic Use
Antineoplastic and Immunomodulating Agents
Musculo-Skeletal System
Nervous System
Antiparasitic Products, Insecticides and Repellents
Respiratory System
Sensory Organs
Other ATC/Therapeutic Classes
By Prescription Type Prescription Drugs (Rx) Branded
Generic
OTC Drugs
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Finland Pharmaceutical Market Research FAQs

What is the current Finland Pharmaceutical Market size?

The Finland Pharmaceutical Market is projected to register a CAGR of 3.9% during the forecast period (2025-2030)

Who are the key players in Finland Pharmaceutical Market?

AbbVie Inc., AstraZeneca plc, Bayer AG, C.H. Boehringer Sohn AG & Ko. KG and GlaxoSmithKline plc are the major companies operating in the Finland Pharmaceutical Market.

What years does this Finland Pharmaceutical Market cover?

The report covers the Finland Pharmaceutical Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Finland Pharmaceutical Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Finland Pharmaceutical Industry Report

Statistics for the 2025 Finland Pharmaceutical market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Finland Pharmaceutical analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.