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Denmark Healthcare Market Bouncing Back After Recession
The Danish healthcare market is showing healthy signs of recovery following the crippling global financial crisis of 2008, says the latest report from business intelligence providers GlobalData.
The firm’s new report
—
Healthcare, Regulatory and Reimbursement Landscape - Denmark
—
predicts Denmark’s pharmaceuticals sector to grow from US$4 billion in
2011 to US$7.3 billion by 2020, representing a Compound Annual Growth
Rate (CAGR) of 6.9%. This expected growth follows three years of
shrinking pharmaceutical revenue for the north European country. Additionally,
Denmark’s medical devices sector is forecast to grow from 2011’s total
of US$1.4 billion, to US$2.3 billion by the end of the decade. GlobalData
attributes Denmark’s healthcare industry expansion to a growing elderly
population: 16.8% of Danish citizens were 65 years old or older in
2011, with this proportion reaching 19.6% by 2020, according to
Statistics Denmark. Additionally, Denmark’s pharmaceutical
market will be bolstered by investment in innovative products. Novo
Nordisk, along with other Danish firms such as LEO Pharma and Lundbeck,
invest 15%–20% of their revenues in R&D. Furthermore, the country’s
biotechnology sector spent approximately US$5.2 billion on R&D in
2011 – the second highest in Europe. However, Denmark is not
lacking in obstacles to overcome. At 25%, VAT in the
country is higher than that of other countries in the EU (UK and the
Netherlands have 20% and 19% respectively), and wages in Denmark are
higher than all other nations in the Organization for Economic
Co-operation and Development (OECD), with the exception of Norway.
Consequently, manufacturing and sales costs are substantial in Denmark.
Healthcare, Regulatory and Reimbursement Landscape - Denmark This report is an essential source of information and analysis on Denmark`s healthcare, regulatory and reimbursement landscape. -ABOUT GLOBALDATA- Disclaimer All Rights Reserved. The facts of this report are believed to be correct at the time of
publication but cannot be guaranteed. Please note that the findings,
conclusions and recommendations that GlobalData delivers will be based
on information gathered in good faith from both primary and secondary
sources, whose accuracy we are not always in a position to guarantee.
As such GlobalData can accept no liability whatever for actions taken
based on any information that may subsequently prove to be incorrect.
This
report was built using data and information sourced from proprietary
databases, primary and secondary research, and in-house analysis
conducted by GlobalData’s team of industry experts.
GlobalData is a leading global research and consulting firm offering
advanced analytics to help clients make better, more informed decisions
every day. Our research and analysis is based on the expert knowledge
of over 700 qualified business analysts and 25,000 interviews conducted
with industry insiders every year, enabling us to offer the most
relevant, reliable and actionable strategic business intelligence
available for a wide range of industries.
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the publisher, GlobalData.
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Published: December 2012, Reference code: GDHC0031CHR
Report Price: $1995 (Single User License)