Denmark Pharmaceutical Market Size (2024 - 2029)

The Denmark pharmaceutical market is anticipated to experience growth, driven by significant investments and strategic collaborations within the sector. The local government's support for clinical trials and the presence of a robust pharmaceutical and biotechnology industry contribute to the market's expansion. Despite these positive factors, challenges such as high tax rates on pharmaceutical products and price-cap agreements may impede the market's growth trajectory.

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Market Size of Denmark Pharmaceutical Industry

Denmark Pharmaceutical Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.40 %
Market Concentration Low

Major Players

Denmark Pharmaceutical Market Major Players

*Disclaimer: Major Players sorted in no particular order

Denmark Pharmaceutical Market Analysis

Denmark Pharmaceutical Market is poised to grow at a CAGR of 3.4% during the forecast period (2022-2027).

The majority of pharmaceutical and biotech companies are concentrating their research & development departments on finding new compounds or leads for the treatment of this disease, which is in the last stages of clinical trials, as a result of the COVID-19 pandemic. By providing funding and incentives to the pharmaceutical corporations, the local government further supports those clinical trials. The Danish Ministry of Health awarded 18.8 million Danish Kroner in November 2020 to test a novel coronavirus vaccine created by scientists at the nation's State Serum Institute (SSI). In order to guarantee that the vaccination is accessible to around 2 million individuals in Europe, Denmark also agreed to a fourth contract with BioNTech/Pfizer in November 2020. BioNTech/Pfizer is now thought to be a prospective vaccine manufacturer. Thus, in the long term, the market is expected to grow.

One of the foundational areas of the Danish economy is the pharmaceutical sector. Compared to other European nations, the nation boasts a sizable pharmaceutical and biotechnology sector, as well as a number of indigenous enterprises that conduct pharmaceutical product development and production. Pharmaceutical businesses have been making innovations including strategic mergers, collaborations, and investments in order to take advantage of the prospects that are currently present and in the future. In order to supplement its ongoing clinical activities in immuno-dermatology, UNION therapeutics A/S inked an agreement in July 2020 to purchase LEO Pharma A/global S's rights to the LEO PDE4 inhibitor chemical series. The substance was given the new name "UNI500" and is a class of PDE4 inhibitors. In June 2020, Fujifilm Corporation announced a new significant capital investment in the Danish location of FUJIFILM Diosynth Biotechnologies, the country's life science industry, totaling roughly 100 billion yen, or USD 928 million. The company hopes to increase its present contract research and production organisation for biologics and advanced therapeutic capabilities with this new capital investment from FUJIFILM Diosynth Biotechnologies. AbbVie Inc. and Genmab A/S, a Danish biotechnology company, entered into a cooperation agreement in June 2020 under which AbbVie would make an upfront payment of USD 4 billion to develop and market a number of Genmab's early-stage cancer medicines. Genmab will be able to expand its research and development pipeline with the aid of this milestone payment. Thus, the abovementioned factors are expected to increase the market growth.

However, the high tax rates on pharmaceutical products and price-cap agreements are expected to hinder the market growth.

Denmark 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. The report also covers an in-depth analysis of qualitative and quantitative data. The Denmark Pharmaceutical Market is segmented by ATC/Therapeutic Class ( Alimentary Tract and Metabolism, Blood and Blood Forming Organs, Cardiovascular System, Dermatologicals Drugs, Genitourinary System and Reproductive Hormones, Systemic Hormonal Preparations, excluding Reproductive Hormones and Insulin, Anti-infectives for Systemic Use, Antineoplastic and Immunomodulating Agents, Musculoskeletal System, Nervous System, Antiparasitic Products, Insecticides, and Repellents, Respiratory System, Sensory Organs, and Various ATC Structures), Sector (Primary Sector, and Hospital Sector), and Prescription Type (Prescription Drugs and OTC). The report offers the value (in USD million) for all the above segments.

By ATC/Therapeutic Class
Alimentary Tract and Metabolism
Blood and Blood Forming Organs
Cardiovascular System
Dermatological Drugs
Genitourinary System and Reproductive Hormones
Systemic Hormonal Preparations, excluding Reproductive Hormones and Insulin
Antiinfectives for Systemic Use
Antineoplastic and Immunomodulating Agents
Musculoskeletal System
Nervous System
Antiparasitic Products, Insecticides and Repellents
Respiratory System
Sensory Organs
Various ATC Structures
By Sector
Primary Sector
Hospital Sector
By Prescription Type
Prescription Drugs (Rx)
OTC Drugs
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Denmark Pharmaceutical Market Size Summary

The pharmaceutical market in Denmark is experiencing a steady growth trajectory, driven by a robust focus on research and development within the sector. The Danish government plays a supportive role by providing funding and incentives for clinical trials, particularly in response to the COVID-19 pandemic. This has led to significant advancements in vaccine development, with collaborations involving major pharmaceutical companies like BioNTech/Pfizer. The country's pharmaceutical and biotechnology sector is substantial, with numerous indigenous companies engaged in product development and production. Strategic mergers, collaborations, and investments are prevalent as companies seek to capitalize on emerging opportunities. Notable activities include UNION therapeutics A/S's acquisition of rights to a PDE4 inhibitor series and Fujifilm Corporation's significant investment in biologics and advanced therapeutic capabilities. These initiatives, along with partnerships such as that between AbbVie Inc. and Genmab A/S, are expected to bolster market growth.

Despite the promising growth prospects, the Danish pharmaceutical market faces challenges such as high tax rates on pharmaceutical products and price-cap agreements, which may impede expansion. The market benefits from a national scheme that partially reimburses medication costs, and direct-to-consumer advertising of prescription drugs is permitted, enhancing awareness among pharmacists and end-users. The rising prevalence of chronic diseases, including cancer, has spurred prescription drug sales, with major players like Novo Nordisk conducting clinical trials and expanding into new therapeutic areas. The competitive landscape features prominent companies such as Novo Nordisk A/S, H. Lundbeck A/S, and Leo Pharma A/S, all of which are heavily invested in research and development. Recent developments include Bavarian Nordic's expansion of monkeypox vaccine production and Novo Nordisk's partnership with Echosens to promote early diagnosis of liver conditions, indicating a dynamic and evolving market environment.

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Denmark Pharmaceutical Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

      1. 1.1.1 Healthcare Expenditure (Govt. Vs Private)

      2. 1.1.2 Pharmaceutical Imports and Exports

      3. 1.1.3 Epidemeology Data For key Diseases

      4. 1.1.4 Regulatory Landscape/Regulatory Bodies

      5. 1.1.5 Licensing and Market Authorization (For both Local Production and Imported Goods)

      6. 1.1.6 Pipeline Analysis

        1. 1.1.6.1 By Phase

        2. 1.1.6.2 By Sponsor

        3. 1.1.6.3 By Disease

      7. 1.1.7 Statiscal Overview

        1. 1.1.7.1 Number of Hospitals

        2. 1.1.7.2 Employment in the Pharmaceutical Sector

        3. 1.1.7.3 R&D Expenditure

      8. 1.1.8 Ease of Doing Business

    2. 1.2 Market Drivers

      1. 1.2.1 Collaboration between Private and Public Sector

      2. 1.2.2 Rising Funding for Research and Development

    3. 1.3 Market Restraints

      1. 1.3.1 High Tax Rates on Pharmaceutical Products

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By ATC/Therapeutic Class

      1. 2.1.1 Alimentary Tract and Metabolism

      2. 2.1.2 Blood and Blood Forming Organs

      3. 2.1.3 Cardiovascular System

      4. 2.1.4 Dermatological Drugs

      5. 2.1.5 Genitourinary System and Reproductive Hormones

      6. 2.1.6 Systemic Hormonal Preparations, excluding Reproductive Hormones and Insulin

      7. 2.1.7 Antiinfectives for Systemic Use

      8. 2.1.8 Antineoplastic and Immunomodulating Agents

      9. 2.1.9 Musculoskeletal System

      10. 2.1.10 Nervous System

      11. 2.1.11 Antiparasitic Products, Insecticides and Repellents

      12. 2.1.12 Respiratory System

      13. 2.1.13 Sensory Organs

      14. 2.1.14 Various ATC Structures

    2. 2.2 By Sector

      1. 2.2.1 Primary Sector

      2. 2.2.2 Hospital Sector

    3. 2.3 By Prescription Type

      1. 2.3.1 Prescription Drugs (Rx)

      2. 2.3.2 OTC Drugs

Denmark Pharmaceutical Market Size FAQs

The Denmark Pharmaceutical Market is projected to register a CAGR of 3.40% during the forecast period (2024-2029)

Novo Nordisk A/S, Leo Pharma A/S, H. Lundbeck A/S, Orifarm Group A/S and ALK-Abelló Nordic A / S are the major companies operating in the Denmark Pharmaceutical Market.

Denmark Pharmaceutical Market Report Snapshots

Denmark Pharmaceutical Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)