Finland – Healthcare, Regulatory and Reimbursement Landscape

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GlobalData, the industry analysis specialist, has released its latest report, "Finland – Healthcare, Regulatory and Reimbursement Landscape". The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Finland. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

The Finnish healthcare system is one of the most advanced digital economies and emerging markets in the EU, focusing on Research & Development (R&D) and personalized medicine. The skilled workforce, increasing elderly population, chronic and lifestyle diseases, advanced healthcare infrastructure, and innovation-focused collaborations are the main factors driving the growth of the pharmaceutical market in Finland. The Finnish pharmaceutical market, based on pharmaceutical production value, increased from €2.03B in 2013 to €2.54B in 2018 at a Compound Annual Growth Rate (CAGR) of 4.5%. In terms of US Dollars, the market increased from $2.70B in 2013 to $3B in 2018 at a CAGR of 2.1%. It is forecast to reach about $3.47B in 2025. The medical devices market of Finland was valued at $0.89B in 2015, which increased to $1.05B in 2020 at a CAGR of 3.36%. The medical device market is expected to grow at a CAGR of 4% from $1.05B in 2020 to $1.3B in 2025.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Finland, and includes:

– An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers

– Profiles and SWOT analyses of the major players in the pharmaceutical market: Astellas, Pfizer, GlaxoSmithKline, Novartis, and Orion.

– Profiles and SWOT analyses of the major players in the medical device market: Medtronic, Roche Diagnostics, DePuy Synthes, Zimmer Biomet, and Revenio.

– An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in healthcare market, HealthTech landscape, reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices

– Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure

– An overview of the opportunities for and challenges to growth in the Finland healthcare market

Reasons to Buy

This report will enhance your decision-making capability by allowing you to:

– Develop business strategies by understanding the trends shaping and driving Finnish healthcare market

– Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Finnish healthcare market in the future

– Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance

– Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership

Table of Contents

1. Table of Contents

1.1List of Figures

1.2 List of Tables

2. Executive Summary

2.1 Executive Summary

2.2 Key Highlights – Facts about the Finnish Healthcare Market

2.3 Key Highlights: Healthcare Startups in Finland

2.4 Key Events: Finnish Healthcare Timeline, 2015-2021

2.5 Key Events: Finnish Pharmaceutical Market

2.6 Key Events: M&As, VC & PE Deals, Global Pharmaceutical Market, 2019-2020

2.7 Key Events: Mergers and Acquisitions

2.8 Country Profile, Finland, 2020

3. Overview of Pharmaceutical Market

3.1 Pharmaceutical Market – Overview

3.2 Pharmaceutical Market – Exports

3.3 Pharmaceutical Market – Imports

3.4 Pharmaceutical Market – Supply Channels, Finland

3.5 Pharmaceutical Market – Market Segments

3.6 Major Therapeutic Areas, Finland

3.7 COVID-19 Epidemiology, Finland

3.8 COVID-19 Impact and Developments in the Healthcare Market, Finland

3.9 COVID-19 Clinical Trials Landscape, Finland

3.10 Pharmaceutical Market – Major Players

4. Overview of Medical Devices Market

4.1 Medical Device Market – Overview

4.2 Medical Devices Market – Major Players

5. Pharmaceutical and Medical Devices Market – Drivers and Barriers

5.1 Drivers

5.2 Barriers

6. Deal Analysis

6.1 Deal Analysis: Pharmaceutical Market, Finland, 2020-2021

6.2 Deal Analysis: Medical Device Market, Finland, 2020-2021

7. HealthTech Landscape

7.1 HealthTech Landscape, Finland

7.2 HealthTech Deals Landscape, Finland

7.3 Key HealthTech Deals, Finland

7.4 Adoption of Technology in Healthcare, Finland

7.5 Major Digital Regulations, Finland

7.6 Digital Health – Benefits and Risks, Finland

8. Market Access

8.1 Overview of Healthcare System, Finland

8.2 Reimbursement of Medicinal Products, Finland

8.3 Overview of Insurance Providers, Public Insurance, Finland

8.4 Overview of Insurance Providers, Private Insurance, Finland

8.5 Healthcare Spending and Prescription Drug Price Trend, Finland

8.6 Pricing Policies, Finland

8.7 Regulatory Landscape, Finland

8.7.1 Marketing Authorization for Pharmaceutical Products, EU

8.7.2 Market Authorization for Pharmaceutical Products (Centralized Procedure), Finland

8.7.3 Market Authorization for Pharmaceutical Products (Decentralized Procedure), Finland

8.7.4 Market Authorization for Pharmaceutical Products (Mutual Recognition Procedure), Finland

8.7.5 Marketing Authorization for Pharmaceutical Products (National Procedure), Finland

8.7.6 Marketing Authorization for Medical Devices, Finland

8.7.7 Intellectual Property Rights, European Patent, Finland

8.7.8 Intellectual Property Rights, Unitary Patent, Finland

8.7.9 Intellectual Property Rights, Patent, Finland

8.7.10 Intellectual Property Rights, Trademark, Finland

8.7.11 Clinical Trial Regulation, Finland

8.7.12 Pharmaceutical Clinical Trials Landscape, Finland

8.7.13 Medical Devices Clinical Trials Landscape, Finland

8.7.14 Pharmaceutical Export and Import, Finland

8.7.15 Pharmaceutical Advertising Regulations, Finland

8.7.16 Pharmacy Regulations, Finland

8.7.17 Labeling and Packaging Regulations, Finland

9. Country Healthcare Landscape

9.1 Healthcare Policy Highlights, Finland

9.2 Healthcare Facilities, Finland

9.3 Healthcare Parameters, Finland

9.4 Life Expectancy and Immunization Rate, Finland

9.5 Environmental Health, Finland

9.6 Healthcare Personnel, Finland

9.7 Disease Burden, Finland

9.8 Healthcare Expenditure, Finland

10 Trade Associations, Finland

11 Trade Fairs, Finland

12 Opportunities and Challenges

13 Appendix

13.1 Research Methodology

13.1.1 Coverage

13.1.2 Secondary Research

13.1.3 Forecasts

13.2 Bibliography

13.3 About GlobalData

13.4 Contact Us

13.5 Disclaimer

Table

Table 1: Approved Biosimilars, Finland 2015-2021

Table 2: Major Therapeutic Areas by Sales Value ($M), Finland, 2018

Table 3: COVID-19 Indicators (Number of Cases), Global and Finland, 2020-2021

Table 4: COVID-19-Related Travel Restrictions, Finland, 2020-2021

Table 5: Finland's Estimated Share of the EU's Vaccine Procurement, COVID-19, Finland, 2020-2021

Table 6: COVID-19 IVD Products, Finland, 2020-2021

Table 7: List of COVID-19 Clinical Trials Sponsors by Count, Finland, 2020-2021

Table 8: Medical Device Market, Finland, Major Segments ($M), 2020

Table 9: Orthopedic Devices Market, Finland, Revenue ($M) and Market Share (%) of Major Companies, 2020

Table 10: Hospital Supplies Market, Finland, Revenue ($M) and Market Share (%) of Major Companies, 2020

Table 11: General Surgery Market, Finland, Revenue ($M) and Market Share (%) of Major Companies, 2020

Table 12: Cardiovascular Devices Market, Finland, Revenue ($M) and Market Share (%) of Major Companies, 2020

Table 13: Diabetes Care Devices Market, Finland, Revenue ($M) and Market Share (%) of Major Companies, 2020

Table 14: Major Laws related to Digital Health, Finland , 2004-2019

Table 15: Reimbursement Categories, Finland, 2021

Table 16: Exceptional Copayment Rate for Specific Medicines, Finland, 2021

Table 17: Medicine Retail Price at the Pharmacy, Finland, 2019

Table 18: Market Authorization Fees, Finland, 2021

Table 19: Patent Fees, Finland, 2021

Table 20: Trademark Fees, Finland, 2021

Table 21: Package Label Information, Finland, 2021

Figures

Figure 1: Pharmaceutical Market, Finland, Revenue ($B and €B), 2013-2020

Figure 2: Medical Device Market, Finland, Revenue ($B), 2015-2020

Figure 3: Healthcare Startups in Finland, 2021

Figure 4: Number of Deals (2019-2020)

Figure 5: 2019-2020 Deal Overview by Region

Figure 6: Country Profile, Finland, 2020

Figure 7: Pharmaceutical Market, Finland, Revenue ($B and €B), 2013-2020

Figure 8: Pharmaceutical Market, Finland, Revenue Forecast ($B and €B), 2021-2025

Figure 9: Pharmaceutical Exports ($B), Finland, 2013-2020

Figure 10: Top Export Partners, Finland, 2020

Figure 11: Pharmaceutical Imports ($B), Finland, 2013-2020

Figure 12: Top Import Partners, Finland, 2020

Figure 13: Pharmaceutical Supply Channel, Finland, 2021

Figure 14: Medicines Verification System, Finland, 2021

Figure 15: Product Flow in Medicines Verification System, Finland, 2021

Figure 16 Generic Share by Value (%) , Finland, 2012-2018

Figure 17: Generic Share by Volume (%) , Finland, 2012-2018

Figure 18: OTC Medicines Market, Major Distribution Channels ($M), Finland, 2020

Figure 19: OTC Medicines Market, Revenue ($M), Finland, 2013-2020

Figure 20: OTC Medicines Market, Major Categories ($M), Finland, 2020

Figure 21: Top Five Therapeutic Areas by Annual Revenue (%), Finland, 2018

Figure 22: COVID-19 Cases, Finland, 2020-2021

Figure 23: COVID-19 Deaths, Finland, 2020-2021

Figure 24: COVID-19 Fiscal Stimulus Timeline, Finland, 2020-2021

Figure 25: Three Phases of the Epidemic, Finland, 2021

Figure 26: COVID-19 Co-ordination and Management, Finland, 2021

Figure 27: COVID-19 Co-ordination Group, Finland, 2021

Figure 28: Government Plan for Lifting the Restrictions Imposed Due to COVID-19, Finland, 2020-2021

Figure 29: COVID-19 Vaccination Progress, Finland, 2021

Figure 30: Vaccination Distribution for COVID-19, Finland, 2020-2021

Figure 31: COVID-19 Clinical Trials Count by Trial Status, Finland, 2020-2021

Figure 32: COVID-19 Clinical Trials Count by Phase, Finland, 2020-2021

Figure 33: Medical Devices Market, Finland, Revenue ($B), 2015-2020

Figure 34: Medical Devices Market, Finland, Revenue Forecast ($B), 2021-2025

Figure 35: Medical Device Market, Finland, Major Segments (%), 2020

Figure 36: Orthopedic Devices Market, Finland, Revenue ($M), 2017-2025

Figure 37: Orthopedic Devices Market, Finland, Market Share of Major Players (%), 2020

Figure 38: Hospital Supplies Market, Finland, Revenue ($M), 2017-2025

Figure 39: Hospital Supplies Market, Finland, Market Share of Major Players (%), 2020

Figure 40: General Surgery Market, Finland, Revenue ($M), 2017-2025

Figure 41: General Surgery Market, Finland, Market Share of Major Players (%), 2020

Figure 42: Cardiovascular Devices Market, Finland, Revenue ($M), 2017-2025

Figure 43: Cardiovascular Devices Market, Finland, Market Share of Major Players (%), 2020

Figure 44: Diabetes Care Devices Market, Finland, Revenue ($M), 2017-2025

Figure 45: Diabetes Care Devices Market, Finland, Market Share of Major Players (%), 2020

Figure 46:Diagnostics Market, Finland, Revenue ($M), 2015-2020

Figure 47: Diagnostics Market, Finland, Revenue Forecast ($M), 2021-2025

Figure 48: Medical Devices Market, Revenue ($B) of Major Companies, Finland, 2020

Figure 49: Deal Value and Deal Count, Pharmaceutical Market, Finland, 2019-2021

Figure 50: Deal Value and Deal Count Subtypes, Pharmaceutical Market, Finland, 2019-2021

Figure 51: Deal Value and Deal Count, Quarterly, Pharmaceutical Market, Finland, 2019-2021

Figure 52: Top Therapy Areas by Deal Value, Pharmaceutical Market, Finland, 2019-2021

Figure 53: Top Therapy Areas by Deal Count, Pharmaceutical Market, Finland, 2019-2021

Figure 54: M&A Deals by Quarter, Pharmaceutical Market, Finland, 2019-2021 (by value and by number)

Figure 55: VC Deals by Quarter, Pharmaceutical Market, Finland, 2019-2021 (by value and by number)

Figure 56: Deal Value and Deal Count, Medical Devices Market, Finland, 2019-2021

Figure 57: Deal Value and Deal Count Subtypes, Medical Devices Market, Finland, 2019-2021

Figure 58: Deal Value and Deal Count, Quarterly, Medical Devices Market, Finland, 2019-2021

Figure 59: Top Equipment Sectors by Deal Value, Medical Devices Market, Finland, 2019-2021

Figure 60: Top Equipment Sectors by Deal Count, Medical Devices Market, Finland, 2019-2021

Figure 61: M&A Deals by Equipment Sector, Medical Devices Market, Finland, 2019-2021 (by Value and by Number)

Figure 62: VC Deals by Quarter, Medical Devices Market, Finland, 2019-2021 (by Value and by Number)

Figure 63: Health Incubator Helsinki Process, Finland, 2021

Figure 64: Health Incubator Helsinki First Batch, Finland, 2020

Figure 65: Deal Value ($M), HealthTech, Finland, 2020-2021

Figure 66: Deal Count (Number of Deals), HealthTech, Finland, 2020-2021

Figure 67: GDPR Compliance Checklist, EU, 2021

Figure 68: Organization of the Health System, Finland, 2019

Figure 69: Medical Reimbursement System, Finland, 2021

Figure 70: Financial Flow, Finland, 2021

Figure 71: NHI Expenditure by Benefit (€M), Finland, 2019

Figure 72: Financing of Healthcare by NHI (€M), Finland, 2019

Figure 73: Private Health Insurance Coverage (% Total Population), Finland, 2021

Figure 74: OOP Expenditure (% of Total Expenditure on Health), Finland, 2012-2020

Figure 75: Annual Rate of Change (%), Health Price Index, Finland, 2012-2020

Figure 76: FIMEA Organizational Structure, Finland, 2021

Figure 77: Marketing Authorization for Pharmaceutical Products, EU, 2020

Figure 78: Centralized Procedure, EU, 2021

Figure 79: Decentralized Procedure, EU, 2021

Figure 80: Mutual Recognition Procedure, EU, 2021

Figure 81: Conformity Assessment of Class I Medical Devices, EU, 2019

Figure 82:Conformity Assessment of Class IIa Medical Devices, EU, 2019

Figure 83: Conformity Assessment of Class IIb Medical Devices, EU, 2019

Figure 84: Conformity Assessment of Class III Medical Devices, EU, 2019

Figure 85: European Patent Approval Process, EU, 2020

Figure 86: Unitary Patent Approval Process, EU, 2020

Figure 87: Trademark Fees, Finland, 2021

Figure 88: Pharmaceutical Clinical Trials Count by Trial Status, Finland, 2020-2021

Figure 89: Pharmaceutical Clinical Trials Count by Therapy Area, Finland, 2020-2021

Figure 90: Pharmaceutical Clinical Trials Count by Phase, Finland, 2020-2021

Figure 91: Top Five Pharmaceutical Clinical Trial Sponsors by Count, Finland, 2020-2021

Figure 92: Medical Devices Clinical Trials Count by Trial Status, Finland, 2020-2021

Figure 93: Medical Devices Clinical Trials Count by Indication, Finland, 2020-2021

Figure 94: Medical Devices Clinical Trials Count by Category, Finland, 2020-2021

Figure 95: Top Five Medical Devices Clinical Trial Sponsors by Count, Finland, 2020-2021

Figure 96: Number of Hospitals, Finland, 2012-2020

Figure 97: Number of Diagnostic Equipment, Finland, 2013-2020

Figure 98: Number of Acute Care Beds (per 1,000 Population), Finland, 2013-2020

Figure 99: Number of Hospital Beds (per 1,000 Population), Finland, 2013-2020

Figure 100: Number of Psychiatric Care Beds (per 1,000 Population), Finland, 2013-2020

Figure 101: Immunization Rate (% of Children Ages 12-23 Months), Finland, 2013-2019

Figure 102: Life Expectancy at Birth (Years), Finland, 2013-2019

Figure 103: CO2 Emissions (Million Tons), Finland, 2012-2020

Figure 104: PM2.5 (µg per m3), Finland, 2012-2020

Figure 105: Physicians (per 1,000 Population), Finland, 2012-2020

Figure 106: Pharmacists (per 1,000 Population), Finland, 2012-2020

Figure 107: Dentists (per 1,000 Population), Finland, 2012-2020

Figure 108: Nurses (per 1,000 Population), Finland, 2012-2020

Figure 109: Major Causes of Mortality (per 100,000 population), Finland, 2019

Figure 110: Major Causes of Male Mortality (per 100,000 population), Finland 2019

Figure 111: Major Causes of Female Mortality (per 100,000 population), Finland, 2019

Figure 112: Disability-Adjusted Life Years by Major Disease (per 100,000 population), Finland, 2019

Figure 113: Healthcare Expenditure as Percentage of GDP (%), Finland, 2012-2019

Figure 114: Public-Private Share (%), Finland, 2012-2019

Figure 115: Pharmaceutical Spending ($ per Capita), Finland, 2010-2018

Figure 116: Healthcare Expenditure Components by Function (% of Total Health Expenditure), Finland, 2018

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