Denmark Pharmaceutical Market Trends

In Denmark, the prescriptions are not covered under public health insurance. However, the national scheme does reimburse the partial costs of some medications. Furthermore, in Denmark, the direct-to-consumer advertising of prescription drugs is permitted under strict legislation. This is having a positive impact on the market as most pharmacists and end-users will be well aware of new or present medications available for the treatment of diseases. Prescription drug sales have increased as compared to previous years owing to the rising chronic disease.  

According to Globocan 2020, Denmark has an estimated 42,891 incidents of cancer. Colorectal cancer is the most common type of cancer, followed by breast, lung, prostate, and skin melanoma. Major competitors in the prescription drug market are making substantial advancements for the unmet requirement that exists in the market space as a result of the rising prevalence of chronic diseases in this area. For instance, a major player in this market, Novo Nordisk, is conducting a clinical trial comparing once-weekly semaglutide 2.0 mg to once-weekly semaglutide 1.0 mg. In November 2020, the company announced that the SUSTAIN FORTE trial, a 40-week, phase 3b, efficacy and safety trial with once-weekly semaglutide 2.0, had demonstrated a statistically significant and superior reduction in HbA1c at week 40. The business wants to market the medicine and get additional regulatory approval. Similarly, the world's largest diabetic manufacturer, Novo Nordisk, purchased Corvidia Therapeutics from AstraZeneca in June 2020 for an initial USD 725 million as it aims to diversify into cardiovascular disease medicines in the Danish market. Thus, the abovementioned factors are expected to increase the market growth.