Denmark Pharmaceutical Market size is set to grow by USD 852.1 mn from 2024-2028, high investment in pharmaceutical industry to boost the market growth, Technavio

NEW YORK, May 17, 2024 /PRNewswire/ -- The global pharmaceutical market in Denmark size is estimated to grow by USD 852.1 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3.63%  during the forecast period. 

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Key Market Trends Fueling Growth

In Denmark, the pharmaceutical market is witnessing significant advancements in personalized medicine, driven by progress in genomics, molecular diagnostics, and bioinformatics. The Danish healthcare system integrates genomic information into clinical decision-making processes, backed by robust infrastructure, collaborative research initiatives, and a patient-centric approach. This shift focuses on chronic diseases such as diabetes, cancer, and allergies, with trials like the SUSTAIN FORTE ongoing. Scandinavian universities, university hospitals, and science parks contribute to research and development in areas like respiration, urology, muscles, joints, bones, hormones, sense organs, and dermatology. The Danish market includes prescription drugs, public health insurance, and export commodities like PDE4 inhibitors and cancer medicines. Tax rates and prescription drugs are subjects of ongoing discussions in the Danish political landscape. 

Market Challenges

• The pharmaceutical market in Denmark navigates the complex task of providing access to advanced therapies while managing healthcare costs within a centralized system. The Danish Medicines Agency (DKMA) regulates pricing and reimbursement, prioritizing cost-effectiveness and sustainability. However, stringent regulations, including reference pricing, can create challenges for pharmaceutical companies, particularly for innovative or niche medications in areas such as immune system, infection, respiration, urology, muscles, joints, bones, hormones, sense organs, dermatology, and cancer. Denmark's focus on public health insurance and chronic disease management, as seen in the SUSTAIN FORTE trial, further influences the market landscape. Universities, university hospitals, and science parks contribute to scientific advancements and exports in this sector. Key commodities include PDE4 inhibitors and tax rates for prescription drugs (Rx).

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Segment Overview 

This pharmaceutical market in Denmark report extensively covers market segmentation by

1. Class Type
• 1.1 Musculoskeletal system
• 1.2 Nervous system
• 1.3 Respiratory system
• 1.4 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Type 
• 3.1 Prescription drugs
• 3.2 OTC drugs
4. Geography 
• 4.1 Europe

1.1 Musculoskeletal system-  In the Danish pharmaceutical market, drugs targeting the musculoskeletal system, including those addressing immune system disorders, infections, respiration, urology, muscles, joints, and bones, hold significant importance due to an aging population and increasing prevalence of chronic diseases such as diabetes, cancer, and allergies. The elderly demographic, which is projected to account for approximately 25% of Denmark's population of 6.3 million in 2040, requires pharmaceutical interventions to manage age-related conditions like osteoarthritis, osteoporosis, and rheumatoid arthritis. Furthermore, sedentary lifestyles and desk-bound work contribute to musculoskeletal issues, driving demand for drugs. The Danish market also exports various pharmaceutical commodities, including PDE4 inhibitors and cancer medicines, which are subject to specific tax rates. The public health insurance system covers prescription drugs (Rx), and universities, university hospitals, and science parks in Scandinavia contribute to the advancement of research and development in this field. According to Globocan 2020, chronic diseases account for a substantial portion of the disease burden, making the development of effective treatments a priority. Notable trials, such as the SUSTAIN FORTE trial, focus on addressing musculoskeletal disorders and hormonal imbalances.

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Research Analysis

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Market Research Overview

The Pharmaceutical Market in Denmark is a significant sector, characterized by its focus on research and development (R&D), innovation, and high-quality standards. The market is driven by a large and aging population, increasing prevalence of chronic diseases, and a strong focus on preventive healthcare. The Danish government plays a crucial role in the market through its universal healthcare system, which ensures affordable access to medicines for its citizens. The market is also influenced by international trends, such as the shift towards personalized medicine and digital health solutions. The Danish regulatory environment is known for its stringent regulations, ensuring the safety and efficacy of medicines. The market is expected to grow in the coming years, driven by these factors and the ongoing development of new treatments and technologies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Class Type
• Musculoskeletal System
• Nervous System
• Respiratory System
• Others
• Distribution Channel
• Offline
• Online
• Type
• Prescription Drugs
• OTC Drugs
• Geography
• Europe

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio