Pharmaceuticals - Denmark

Denmark

The Pharmaceuticals market in Denmark is expected to witness significant growth in the coming years.
It is projected that the revenue in this market will reach US$2,831.00m in 2024.
Among the various markets, Oncology Drugs is anticipated to be the largest, with a projected market volume of US$506.20m in 2024.
This indicates the importance and potential of pharmaceuticals in Denmark.
Furthermore, the revenue in the Pharmaceuticals market is expected to showcase a steady annual growth rate (CAGR 2024-2029) of 4.71%.
This consistent growth is estimated to result in a market volume of US$3,563.00m by 2029.
These numbers reflect the positive outlook and opportunities available in the pharmaceutical industry in Denmark.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the Pharmaceuticals market.
In 2024, the projected revenue for the United States is an astounding US$630.30bn.
This highlights the dominant position of the United States in the global pharmaceutical market.
Overall, the Pharmaceuticals market in Denmark is poised for significant growth, with a strong focus on Oncology Drugs.
With the projected revenue and market volumes, it is evident that this industry plays a crucial role in the country's economy and healthcare sector.
Denmark has been a pioneer in pharmaceutical innovation, with its strong focus on research and development driving the country's thriving pharmaceutical market.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

Denmark is known for its high-quality healthcare system, and the pharmaceuticals market plays a crucial role in supporting it.

Customer preferences: The Danish population values access to healthcare services, and the government ensures that healthcare is easily accessible and affordable for all. As a result, the demand for pharmaceutical products is high, with a focus on quality and safety. Customers in Denmark prefer to purchase branded drugs, and there is also a growing trend towards natural and organic remedies.

Trends in the market: The pharmaceuticals market in Denmark is growing, with an increasing focus on research and development. The market is highly regulated, with strict rules on drug approval and pricing. There is a trend towards personalized medicine, with a focus on developing drugs that are tailored to individual patients. Additionally, the COVID-19 pandemic has led to an increased demand for vaccines and other pharmaceutical products.

Local special circumstances: Denmark has a unique healthcare system that is primarily funded by taxes. The government negotiates with pharmaceutical companies to ensure that prices are kept low, and there is a focus on cost-effectiveness. Additionally, there is a high level of collaboration between the government, healthcare providers, and pharmaceutical companies to ensure that patients receive the best possible care.

Underlying macroeconomic factors: Denmark has a strong economy with a high standard of living. The government invests heavily in healthcare and research, creating a favorable environment for the pharmaceuticals market. Additionally, Denmark is home to several pharmaceutical companies, which contributes to the growth of the market. The country's aging population also drives demand for pharmaceutical products, particularly those related to chronic diseases.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.