In a time when many studies are predicting pharmaceutical market values will increase, Denmark is predicted to see a decrease.
According to GlobalData the country's pharmaceutical market value will drop from $3.5 billion in 2013 to $3 billion by 2020, reported the European Pharmaceutical Review.
High tax rates on pharmaceutical products and price-cap agreements are two of the biggest reasons for the decline, according to the study.
The European Pharmaceutical Review spoke with Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, who said not all looks gloomy.
He pointed out the country's faster pharmaceutical product registration process, corporate tax reduction and the fact that pharmaceuticals are one of Denmark's largest exported goods, as reasons to be optimistic.