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Finland’s National Supervisory Authority for Welfare and Health oversees medical device regulation (Valvira). Along with administering relevant licensing activities, Valvira is in charge of advising environmental health and alcohol administration authorities on regulatory matters.
The foundation of the Finnish healthcare system is universal access to public healthcare services for all citizens. The Finnish Constitution states that the government must ensure that everyone has access to sufficient social, health, and medical services.
The Finland Medical Devices Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
Pharmacies and hospitals are the primary customers of Finland’s pharmaceutical wholesalers. Reimbursable medications account for the majority of wholesale sales to pharmacies. Finnish domestic pharmaceutical production has declined but hasn’t completely stopped over the previous few decades.
The development of medicines, which have a high level of demand worldwide and rank among the top ten goods in export statistics, has been beneficial for enterprises with roots in Finland.
Finland is home to sizable production sites like Bayer, Orion, Pfizer, and Santen. These businesses enjoy dominant market positions.
Due to its expertise in producing ophthalmic medicines, hormonal medications, and the polymers used in hormonal IUDs, Finland has been able to maintain its pharmaceutical manufacturing industry.
The national social welfare and healthcare systems as a whole are tightly controlled, and this relationship extends to the pharmaceutical industry.
Laws define the methods for monitoring adverse responses, marketing medications, and reimbursing pharmacotherapies.
Guidelines for Good Manufacturing Practices (GMP) are followed during production. The Finnish Medicines Agency oversees compliance (Fimea).
Finland is a prime market for high-end, technologically advanced U.S. medical equipment, particularly technology that boosts productivity and lowers hospital occupancy rates.
Public hospitals in Finland now have less operating resources, and significant hospital purchases are primarily utilised to replace dated machinery. Investments in new medical technology are anticipated to rise in the private healthcare industry.
