Iceland
Iceland is an island in the North Atlantic. It is home to a progressive and peaceful nation that has formed a modern society where freedom and equality are held in high regard.
Iceland continuously ranks near the top for measurements of quality of life, gender equality, and democracy, and is one of the highest ranked countries in the world for health care, education and internet availability.
Healthcare budget
$4.4 billion
Inhabitants
0.4 million
GDP per capita
$60.387
Currency
ISK (1 ISK = 0,007 Euro)
World Ranking
GDP 110th
Icelandic healthcare
Iceland has universal healthcare. Health care system in Iceland relies on general taxation (85%), and to some extent by service fees (15%) instead of local funding. This is affected by the Nordic welfare state model, in which public service is heavily funded through taxation to support the general public, in order for the population to have equal access to health care and welfare system.
A considerable portion of government spending is assigned to health care. There is almost no private health insurance in Iceland and no private hospitals.
Icelandic pharmaceutical environment
The Icelandic OTC market in pharmaceuticals is dominated by two large pharmacy chains, but there are a few independent pharmacies in operation as well. Hospitals usually issue a tender for their pharmaceutical supplies on an annual basis. As Iceland is a member of the EEA agreement, similar regulations apply in Iceland as in the EU when it comes to drugs and drug safety.
Todays challenges
Life expectancy at birth is high and Icelandic men and women enjoy longer life in good health than the average European. However, Icelanders are putting on weight, more than half of adult Icelanders were overweight or obese in 2004, and total consumption of alcohol has increased considerably since 1970.
The Icelandic experts
Karin Torberger & Clas Lindbergson
Challenge us with your case and we will show you the possibilities for your product.
Services
Sales and Marketing
Entering the European market is not easy. 44 countries with different healthcare systems. What is your strategy? Apart from the Big-5, what do you do with the other 28 countries? We offer a solution for 28 countries. Sales and marketing is our core business.
Learn moreDistribution
We manage, through our logistic partners with their regional warehouses, the distribution to our region (28 countries). They have the capability to handle the most demanding of specialized product order management, storage, handling and distribution requirements.
Learn moreEarly Market Research
You know that market research is critical. It provides customer insights, competitive intelligence, behavioural tendencies, and product positioning. And market research increasingly is becoming an important component for linking R&D and marketing teams.
Learn moreMarket Access
Achieving reimbursement and getting the right price are the 2 most important drivers for a successful launch of an innovative pharmaceuticals in our part of Europe. Health Authorities in any European country decide individually based on their local regulations, policies, framework, social values and available health care budget.
Learn moreMarket Authorisation
Unlike other regions, in the EU a number of options is available to obtain a marketing authorisation. Centralised at the European Medicines Agency in Amsterdam or decentralised with the individual competent authorities of the member states, each marketing authorisation application procedure has its pros and cons. In the case of Switzerland, it has its own regulatory authority, Swissmedic, and processes.
Learn morePharmacovigilance
Pharmacovigilance is the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other medicine-related problem.
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