Who are the key players in Sweden Pharmaceutical Market?

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

What years does this Sweden Pharmaceutical Market cover, and what was the market size in 2023?

In 2023, the Sweden Pharmaceutical Market size was estimated at USD 5.29 billion. The report covers the Sweden Pharmaceutical Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sweden Pharmaceutical Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Sweden Pharmaceutical Market Size

Market Size of Sweden Pharmaceutical Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 5.60 Billion
Market Size (2029)	USD 7.31 Billion
CAGR (2024 - 2029)	5.49 %
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Sweden Pharmaceutical Market Analysis

The Sweden Pharmaceutical Market size is estimated at USD 5.60 billion in 2024, and is expected to reach USD 7.31 billion by 2029, at a CAGR of 5.49% during the forecast period (2024-2029).

Sweden's pharmaceutical market is poised for growth, especially in the realms of innovative therapies and biotechnology. Bolstered by a strong emphasis on R&D and a supportive healthcare framework, Sweden cultivates a dynamic pharmaceutical landscape. Key drivers for this growth include an aging population and the escalating prevalence of chronic conditions like cancers, cardiovascular issues, and autoimmune diseases.

Chronic conditions, including diabetes, cardiovascular diseases, and cancer, fuel the demand for both ongoing treatments and groundbreaking therapies. For instance, data from the National Board of Health and Welfare, released in November 2023, highlighted that Sweden logged approximately 22,400 acute heart attack incidents in 2022. Notably, 66% of those affected were 70 or older, and nearly 4% were below 50. This underscores the pronounced challenge of heart diseases in Sweden, especially among the aging demographic, suggesting a heightened reliance on pharmaceutical interventions and, consequently, a boost to the market.

Moreover, government-backed reimbursements for pharmaceutical firms are set to catalyze market expansion. For instance, in June 2023, Sweden's government directed the Public Health Agency to explore a fresh reimbursement model. This proposed model aims to financially incentivize pharmaceutical companies to maintain a buffer stock of select off-patent antibiotics. Such reimbursement strategies not only ensure drug preservation but also enhance their availability, further propelling market growth.

In summary, while the dual forces of chronic disease prevalence and government reimbursements promise to drive Sweden's pharmaceutical market, the stringent regulatory landscape for product approvals poses a potential challenge to this growth trajectory.

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 Sweden pharmaceutical market is segmented by anatomical therapeutic chemical (ATC)/therapeutic class, drug type, and prescription type. By anatomical therapeutic chemical (ATC)/therapeutic class, the market is segmented into the cardiovascular system, dermatological, genito urinary system and sex hormones, anti-infective for systemic use, antineoplastic and immunomodulating agents, musculoskeletal system, nervous system, respiratory system, and other ATC/Therapeutic classes. By drug type, the market is segmented into branded and generic. By prescription type, the market is segmented into prescription drugs (Rx) and over-the-counter (OTC) drugs. The report offers the value (in USD) for the above segments.

By ATC/Therapeutic Class
		Cardiovascular System
		Dermatological
		Genito Urinary System and Sex Hormones
		Anti-infective for Systemic Use
		Antineoplastic and Immunomodulating Agents
		Musculoskeletal System
		Nervous System
		Respiratory System
		Other ATC/Therapeutic Classes

By Drug Type
		Branded
		Generic

By Prescription Type
		Prescription Drugs (Rx)
		Over the Counter (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. 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 Coupled with Chronic Diseases
  2. 1.2.2 Increasing Pharmaceutical Research and Development Activities and Favorable Government Support
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. MARKET SEGMENTATION (Market Size by Value - USD)
1. 2.1 By ATC/Therapeutic Class
  1. 2.1.1 Cardiovascular System
  2. 2.1.2 Dermatological
  3. 2.1.3 Genito Urinary System and Sex Hormones
  4. 2.1.4 Anti-infective for Systemic Use
  5. 2.1.5 Antineoplastic and Immunomodulating Agents
  6. 2.1.6 Musculoskeletal System
  7. 2.1.7 Nervous System
  8. 2.1.8 Respiratory System
  9. 2.1.9 Other ATC/Therapeutic Classes
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 Over the Counter (OTC) Drugs