| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| Market Size (2025) | USD 3.13 Billion |
| Market Size (2030) | USD 3.51 Billion |
| CAGR (2025 - 2030) | 2.31 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Norway Pharmaceutical Market Analysis
The Norway Pharmaceutical Market size is estimated at USD 3.13 billion in 2025, and is expected to reach USD 3.51 billion by 2030, at a CAGR of 2.31% during the forecast period (2025-2030).
COVID-19 significantly impacted the pharmaceutical industry in Norway due to various restrictions imposed by the government in the country. The country experienced a very weak first wave and implemented numerous strategies to lessen or manage medicine shortages with which the studied market had less adversely impacted during the pandemic. However, due to new strategies like agreements by market players for COVID-19 vaccines in the country, the market is expected to grow significantly. For instance, in March 2023, Insud Pharma entered a collaboration agreement with the biotech pharmaceutical company HIPRA to accelerate and facilitate access to the COVID-19 vaccine in different European countries. The alliance between HIPRA and Exeltis will provide market access services for Norway and some other European countries, which will propel the market to grow over the coming years.
Norway has a developing pharmaceutical market with clinical and medical capabilities in various key sectors, including neuroscience and cancer. Its long tradition in the biomedical sciences makes it an enticing place for businesses trying to create a base or develop a partnership in Norway. In addition, the rising incidence of chronic diseases like cancers, heart diseases, and autoimmune diseases increases the demand for various pharmaceuticals in the country. For instance, per the report published by the Norwegian Institute of Public Health in March 2023, multiple myeloma is the second most frequent type of blood cancer, with roughly 450 new cases identified annually in Norway. Since multiple myeloma is incurable, treatment objectives are to extend life, elicit a strong response without unfavorable side effects, and keep the patient's quality of life as high as possible throughout treatment, which likely propels the pharmaceutical market over the forecast period.
The presence of market players, key product launches, mergers, and acquisitions make the market grow faster over the forecast period. For instance, in November 2021, ADVANZ PHARMA launched MYRELEZ in Norway, the first generic lanreotide for treating acromegaly and gastroenteropancreatic neuroendocrine tumors (GEP-NETs). These new product launches increase the product portfolio of the key players in the market, which likely propels the market's growth.
Due to the factors above, Norway's pharmaceutical market is anticipated to face growth over the forecast period. However, stringent regulatory rules for pharmaceutical products impede the market growth over the study period.
Norway Pharmaceutical Market Trends
Prescription Drugs Segment in Norway is Expected to Witness a Growth Over the Forecast Period
The Norway prescription drugs category is expected to hold the largest proportion of the pharmaceutical market due to new initiatives like E-prescriptions for Multidose Dispensed Drugs (eMDD) in the country. For instance, as per the study conducted by the Norwegian Centre for E-health published in January 2022, general practitioners (GPs) experienced great benefits with the introduction of eMDDs. In addition, the aging population, advancements in technology, and the rising burden of chronic diseases in the country are some other factors that likely drive the segment growth in the country.
An increase in pharmaceutical sales in the country is expected to significantly impact segment growth as drug sales involve prescription drugs. For instance, as per the report published by the Norwegian Institute of Public Health in October 2022, drugs for human use were sold worth a total of NOK 22.8 billion (USD 2.15 billion) (pharmacy purchase price (AIP)) in 2021, an increase of 8.1% from the previous year. Prescription drugs accounted for around 91% of sales measured in defined daily doses (DDD).
In addition, as per the same source mentioned above, around 90% of patients over the age of 70 years receive prescription medication in the country. This shows that most prescription drug sales are expected to have significant growth in the segment over the study period.
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Antineoplastic and Immunomodulating Agents Under the ATC/Therapeutic Class is Expected to Have Significant Share in the Market Over the Forecast Period
The antineoplastic and immunomodulating agents segment is expected to have a significant share of the market due to the high burden of cancer cases in the country, along with more advanced pharmaceuticals in the segment. In addition, the high prices and the introduction of new and more expensive drugs in the market attract market players in the country, which is expected to have significant growth in the segment.
According to the Cancer Registry Norway, at the end of 2022, 20,487 men and 17,778 women were registered with new cancer cases in Norway, in addition to the high pharmaceutical sales of antineoplastic and immunomodulatory agents. For instance, as per the report published by Norwegian Drug Wholesale Statistics in October 2022, these agents had the highest turnover and accounted for 25% of the costs for human medicines in 2021. This group of agents includes expensive drugs for cancer treatment and biological drugs for treating arthritis and multiple sclerosis. This shows the high burden of cancers and high sales of drugs in the segment, which is expected to have significant growth in the market over the study period.
Furthermore, the new product launches and approvals in the segment increase the widespread distribution of drugs in the market. For instance, in December 2022, Novartis received approval from the European Commission (EC) for Pluvicto (lutetium (177Lu) vipivotide tetraxetan), a targeted radioligand therapy for the treatment of prostate-specific membrane antigen-positive metastatic castration-resistant prostate cancer. The approval applies to all 27 European Union member states and Norway. Thus, the studied segment is expected to grow over the forecast period due to the factors above, like the high burden of cancers and growing product approvals and launches.
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Norway Pharmaceutical Industry Overview
The Norway pharmaceutical market is highly competitive and consists of several major players. A few of the 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 of the Key players in the market are AbbVie Inc., AstraZeneca, Bayer AG, Boehringer Ingelheim, GSK plc, and others.
Norway Pharmaceutical Market Leaders
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AbbVie Inc.
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Bayer AG
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Boehringer Ingelheim
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GSK plc
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AstraZeneca
- *Disclaimer: Major Players sorted in no particular order
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Norway Pharmaceutical Market News
- March 2023: Bristol Myers Squibb received approval from the European Commission (EC) for Reblozyl (luspatercept) for treatment in adult patients of anemia associated with non-transfusion-dependent (NTD) beta-thalassemia. The centralized marketing authorization approves the use of Reblozyl in all EU member states and Norway.
- February 2023: Akebia Therapeutics stated that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion recommending the European Commission (EC) to approve Vafseo (vadadustat), an oral hypoxia-inducible factor prolyl hydroxylase (HIF-PH) inhibitor for the treatment of symptomatic anemia associated with chronic kidney disease (CKD) in adults on chronic maintenance dialysis. The decision will apply to all 27 European Union member states, Iceland, Norway, and Liechtenstein.
Norway Pharmaceutical Industry Segmentation
As per the report's scope, pharmaceuticals are prescribed and non-prescription drugs. These medicines can be bought by an individual with or without the doctor's prescription and are safe for consumption for various illnesses with or without the doctor’s consent. The Norway Pharmaceutical Market is Segmented by Anatomical Therapeutic Chemical (ATC)/Therapeutic Class (Cardiovascular System, Dermatologicals, Genito Urinary System and Sex Hormones, Anti-infective for Systemic Use, Antineoplastic and Immunomodulating Agents. Musculoskeletal System, Nervous System, Respiratory System, and Others), Drug Type (Branded and Generic), Prescription Type (Prescription Drugs (Rx) and Over the Counter (OTC) Drugs). The report offers the value (in USD) for the above segments.
| By ATC/Therapeutic Class | Cardiovascular System |
| Dermatologicals | |
| Genito Urinary System and Sex Hormones | |
| Anti-infective for Systemic Use | |
| Antineoplastic and Immunomodulating Agents | |
| Musculoskeletal System | |
| Nervous System | |
| Respiratory System | |
| Other ATC/Therapeutic Classes | |
| By Drug Type | Branded |
| Generic | |
| By Prescription Type | Prescription Drugs (Rx) |
| Over the Counter (OTC) Drugs |
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Norway Pharmaceutical Market Research Faqs
How big is the Norway Pharmaceutical Market?
The Norway Pharmaceutical Market size is expected to reach USD 3.13 billion in 2025 and grow at a CAGR of 2.31% to reach USD 3.51 billion by 2030.
What is the current Norway Pharmaceutical Market size?
In 2025, the Norway Pharmaceutical Market size is expected to reach USD 3.13 billion.
Who are the key players in Norway Pharmaceutical Market?
AbbVie Inc., Bayer AG, Boehringer Ingelheim, GSK plc and AstraZeneca are the major companies operating in the Norway Pharmaceutical Market.
What years does this Norway Pharmaceutical Market cover, and what was the market size in 2024?
In 2024, the Norway Pharmaceutical Market size was estimated at USD 3.06 billion. The report covers the Norway Pharmaceutical Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Norway Pharmaceutical Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Norway Pharmaceutical Industry Report
Statistics for the 2025 Norway Pharmaceutical market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Norway 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.
