Sweden Pharmaceutical Market Size (2024 - 2029)

The Sweden pharmaceutical market is experiencing growth driven by factors such as an increasing geriatric population and a rising incidence of chronic diseases, which boost the demand for pharmaceutical products. The COVID-19 pandemic has also played a significant role in market expansion, leading to increased product launches and a shift in medication consumption patterns. Despite these growth drivers, the market faces challenges due to a stringent regulatory environment.

Market Size of Sweden Pharmaceutical Industry

Sweden Pharmaceutical Market Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.90 %
Market Concentration Low

Major Players

Sweden Pharmaceutical Market Major Players

*Disclaimer: Major Players sorted in no particular order

Sweden Pharmaceutical Market Analysis

The Sweden Pharmaceutical market is anticipated to register a CAGR of 3.9% over the forecast period (2022-2027).

The outbreak of COVID-19 impacted the Sweden pharmaceuticals market in Sweden as healthcare services were significantly reduced due to social distancing measures enforced globally. The Sweden supply chains and the procurement of essential medical supplies are under unheard-of pressure as a result of the COVID-19 pandemic. This includes pharmaceutical products required in the management of various diseases. According to the study titled "Patterns of prescription dispensation and over-the-counter medication sales in Sweden during the COVID-19 pandemic' published in the PLOS ONE Journal in August 2021, following recommendations from public authorities, the weekly volume of defined daily doses (DDDs) quickly decreased; however, the volume of Over the Counter Drug (OTC) sales increased by 96%. particularly in Anatomical Therapeutic Chemical (ATC) therapeutic subgroups for vitamins, antipyretics, painkillers, and remedies for the nose, throat, cough, and cold. However, the onset of the COVID-19 pandemic has also led to an increase in product launches for pharmaceutical drugs, thereby contributing to the market's growth. For instance, in February 2021, the Swedish Medical Products Agency authorized the emergency use of the Bamlanivimab drug in COVID-19 patients with underlying conditions that make them more vulnerable to the virus. As a result of the COVID-19 pandemic, the aforementioned claims that the Swedish pharmaceuticals market experienced significant growth.

Further, the factors contributing to the market's growth are the rising geriatric population and the rising incidence of chronic disease.

The rising incidence of chronic diseases is a major factor driving the market growth in Sweden. For instance, according to the data published by "socialstyrelsen", the National Board of Health and Welfare in Sweden in December 2021, over 22,200 people experienced an acute heart attacn in 2020, with over 4,800 casualties. A total of 25,400 people experienced strokes, with 6,100 deaths either due to cerebral infarction or brain hemorrhage. Furthermore, the same source stated that approximately 2% to 3% of all babies are born with a birth defect or chromosomal abnormality. Moreover, as per the International Diabetes Federation (IDF) Diabetes Atlas 10th Edition 2021, the estimated number of people with diabetes in 2021 was 496.2 per thousand, and the number is estimated to reach 541.1 per thousand by 2045 in Sweden. Thus, such statistics indicate the high burden of chronic and lifestyle disorders within the country, which will ultimately drive the demand for pharmaceutical drugs in Sweden.

Additionally, as the demand for pharmaceutical drugs is higher in the aging population, the growing geriatric population in Sweden, which is more susceptible to chronic diseases, supports market growth. For instance, according to the World Data Atlas 2021, In Sweden, there were 20.5% of the population over 65 in 2021. The average annual growth rate of the population is 0.74%. Hence, the growing geriatric population in the country is expected to rise the demand for pharmaceutical products thereby boosting the market growth.

Moreover, according to the latest data published in February 2022, by Lif, a trade organization for Swedish research pharmaceutical companies, stated that Sweden exported over SEK 100 billion worth of medications in 2021. Such developments are expected to have a positive impact on the growth of the market over the analysis period. However, growing product launches by the key market players are anticipated to boost the market growth. For Instance, in December 2021, Apellis Pharmaceuticals, Inc. and Swedish Orphan Biovitrum AB reported that the European Commission (EC) has approved Aspaveli (pegcetacoplan), the first and only targeted C3 therapy, for the treatment of adults with paroxysmal nocturnal hemoglobinuria (PNH) who are anemic after treatment with a C5 inhibitor for at least three months. Additionally, in September 2021, Swedish Orphan Biovitrum AB, an international biopharmaceutical company, received an offer from private equity firm Advent International and Singapore's sovereign wealth fund, GIC, to buy out the company for SEK 69.4 billion. In September 2021, Swedish pharmaceutical retailer, Apoteket expanded its partnership with TCS to accelerate its digital transformation and growth.

However, the stringent regulatory scenario is a major factor restraining the growth of the Sweden pharmaceutical market.

Sweden 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 the doctor's prescription and are safe for consumption for various illnesses with or without the doctor's consent. The market is segmented by ATC/Therapeutic Class (Digestive Organs and Metabolism, Blood and Blood Forming Organs, Heart and Circulation, Skin Preparation, Urinary and Genital Organs and Sex Hormones, Systemic Hormonal Preparations, Excluding Sex Hormone and Insulin, Antiinfectives for Systemic Use, Tumors and Disorders of Immune System, Musculoskeletal System, Nervous System, Antiparasitic Products, Insecticides and Repellents, Respiratory System and Others), Drug Type(Branded and Generic), and Prescription Type(Prescription Drugs(Rx) and OTC Drugs). The report offers the value (in USD million) for the above segments.

By ATC/Therapeutic Class
Digestive orgnas and metabolism
Blood and Blood Forming Organs
Heart and Circulation
Skin Preparation
Urinary and Genital Organs and Sex Hormones
Systemic Hormonal Preparations, Excluding Sex Hormone and Insulin
Antiinfectives For Systemic Use
Tumors and Disorder of Immune System
Musculo-Skeletal System
Nervous System
Antiparasitic Products, Insecticides and Repellents
Respiratory System
Sensory Organs
Others
By Drug Type
Branded
Generic
By Prescription Type
Prescription Drugs (Rx)
OTC Drugs
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Sweden Pharmaceutical Market Size Summary

The Sweden pharmaceutical market is poised for steady growth, driven by several key factors. The market has shown resilience despite challenges posed by the COVID-19 pandemic, which initially disrupted healthcare services and supply chains. However, the pandemic also spurred an increase in pharmaceutical product launches, contributing to market expansion. The rising geriatric population and the growing incidence of chronic diseases, such as cardiovascular conditions and diabetes, are significant drivers of demand for pharmaceutical products. The market is further bolstered by the export of medications and strategic partnerships among key players, which are enhancing digital transformation and market reach. Despite these positive trends, the market faces challenges from stringent regulatory environments that could impede growth.

The competitive landscape of the Sweden pharmaceutical market is characterized by the presence of major global players who are actively engaging in acquisitions and joint ventures to strengthen their market positions. Prescription drugs are expected to capture a larger share of the market, supported by advanced research and development activities and new product introductions. The prevalence of chronic diseases, including asthma, is anticipated to drive segment growth, with a significant portion of the population relying on prescribed medications. The market's growth trajectory is further supported by regulatory approvals for new treatments and the ongoing efforts of companies to expand their product offerings in response to evolving healthcare needs.

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Sweden Pharmaceutical Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

      1. 1.1.1 Healthcare Expenditure

      2. 1.1.2 Pharmaceutical Imports and Exports

      3. 1.1.3 Epidemiology Data For key Diseases

      4. 1.1.4 Regulatory Landscape/Regulatory Bodies

      5. 1.1.5 Licensing and Market Authorization

      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 Statistical 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 Rising Geriatric Population

      2. 1.2.2 Rising Incidence of Chronic Disease

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulatory Scenario

    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 Digestive orgnas and metabolism

      2. 2.1.2 Blood and Blood Forming Organs

      3. 2.1.3 Heart and Circulation

      4. 2.1.4 Skin Preparation

      5. 2.1.5 Urinary and Genital Organs and Sex Hormones

      6. 2.1.6 Systemic Hormonal Preparations, Excluding Sex Hormone and Insulin

      7. 2.1.7 Antiinfectives For Systemic Use

      8. 2.1.8 Tumors and Disorder of Immune System

      9. 2.1.9 Musculo-Skeletal 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 Others

    2. 2.2 By Drug Type

      1. 2.2.1 Branded

      2. 2.2.2 Generic

    3. 2.3 By Prescription Type

      1. 2.3.1 Prescription Drugs (Rx)

      2. 2.3.2 OTC Drugs

Sweden Pharmaceutical Market Size FAQs

The Sweden Pharmaceutical Market is projected to register a CAGR of 3.9% during the forecast period (2024-2029)

Amgen Inc., Pfizer Inc., Novartis International AG, Orifarm Group A/S and Merck & Co., Inc. are the major companies operating in the Sweden Pharmaceutical Market.

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