Growing Landscape Of Healthcare In Finland Market Outlook: Ken Research


The industry of healthcare in Finland is growing more effectively in the recent with the introduction of new technologies and significant contribution of government by making aware from the dangerous diseases through facilitating the numerous programs to the general public of the region. The healthcare sector in Finland contains a highly decentralized three-level publicly funded healthcare system and much smaller part of private segment. Whereas, the Ministry of Social Affairs and Health has the very huge in decision-making, regulatory and the local government are held responsible for serving healthcare to their inhabitants. Moreover, the report identifies the key trends in the healthcare market and serves the insights into regulatory, reimbursement landscape and demographic with the healthcare infrastructure of Finland. Furthermore, the key players of this industry in Finland is doing effective job for dominating the market with the handsome amount of share and establishing significant research and development programs which results the actual growth to the market in the coming trend.

Finland is one of the rapidly emerging markets in the EU which focused majorly on the pharmaceuticals research and development. According to the report analysis, ‘CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Finlandstates that Finland spends approximately 9.4% of its GDP on the healthcare sector for making it more effective and beneficial for both the key player and the patients. The value of pharmaceuticals market dropped from USD 2.5 billion in 2010 to USD 2.5 billion in 2015 at negative CAGR of 0.3% due to an increase in generic volume from 34.0% in 2010 to 42.0% in 2015. Moreover, the Finland offers its populaces a universal healthcare. The anticipation of disease and other types of health promotion have been the main aim of Finnish healthcare strategic policies for so long over the decades, which have resulted in the obliteration of certain communicable diseases and significant development in the health of inhabitants. However, the Finnish healthcare can be considered a success due to the several pointers.

The government of this region decides on primary national policies and strategies with the priorities and proposes bills to be discussed by the parliament. Whereas, the primary care is obtained from the healthcare centers retaining general practitioners and nurses that serve most day-to-day medical services and healthcare centers also active and prominent in the promotion of health related activities. Moreover, it is anticipated that the market will increase to USD of 2.7 billion in the recent years. Meanwhile, in 2010, the market value in terms of Euros was EUR1.9 billion and from 2015 grew at a CAGR of 3.0%. It is expected that in 2022 it will reach to EUR2.8 billion. In 2010, the Finnish medical devices market was worth at USD 0.9 billion, which grew to USD 1.3 billion in 2017.

The major segments were cardiovascular devices, diabetes care devise, in vitro diagnostics, ophthalmic devices and orthopedic devices. The growing aging population, promising foreign investment surroundings and exclusive innovations are anticipated to operate the growth of the pharmaceuticals market. Therefore, in the coming trend it is expected that the healthcare market in Finland will grow more significantly over the decades with the increased healthcare expenditure and the existence of counterfeit medicines.

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Ankur Gupta, Head Marketing & Communications