Market Trends of Finland Pharmaceutical Industry
This section covers the major market trends shaping the Finland Pharmaceutical Market according to our research experts:
Prescription Drugs segment Holds the Largest Share and Expected to do Same in the Forecast Period
The prescription drugs segment is expected to garner a significant share of the market over the analysis period. Technical advances, a conducive governmental landscape, the preference of individuals for prescription drugs, and new product launches are also responsible for this positive trend. It would also be attributed to a rise in population growth and a surge in chronic diseases such as cardiovascular diseases, which are also the most common causes of death in the nation, along with a rise in per capita healthcare expenditure in the country and a change in people's disposable income that will drive growth during the forecast period.
According to Finnish Institute for Health and Welfare data updated in July 2022, public health concerns with a high mortality rate frequently include chronic diseases and disorders. The primary causes of premature death in Finland now are chronic diseases and accidents due to the fast drop in infectious disease mortality. Because of a dramatic decline in these infectious disease death rates over the past few decades, life expectancy has increased considerably. Cardiovascular illnesses, diabetes, asthma, allergies, chronic respiratory diseases, cancer, memory difficulties, musculoskeletal diseases, and mental disorders are among the chronic ailments and diseases that Finland considers to be significant public health challenges in recent years. The above-mentioned source also stated that the most common cardiovascular diseases include ischemic heart disease, congestive heart failure, and disorders of the cerebral circulation.
Similarly, as per an article titled "Long COVID could become Finland's largest chronic disease, warns minister" published in January 2022, more than 4,000 international studies found that one in two adults and around 2% of children may experience prolonged symptoms connected to COVID-19. Therefore, the increasing prevalence of chronic diseases in Finland is expected to drive the segment’s growth during the forecast period.
