Swedish and Danish Life Science experiencing substantial growth

The Öresund bridge connecting Sweden and Denmark

The life science sectors in Sweden and Denmark are experiencing impressive growth, solidifying the position of the Nordic region as a key player in the global industry.

The Nordics have long been recognized as a hub of research and innovation, so it’s little surprise that the life sciences—one of the most research-intensive sectors—are seeing substantial growth in this region. Pharmaceuticals now account for nearly ten percent of Sweden’s total exports, with an impressive 180 percent growth over the past decade (1). In neighboring Denmark, the pharma industry delivers 19 percent of all exports, with an astonishing 227 percent increase since 2008 (2).

Differences and similiarities
Denmark’s life science growth is largely driven by the success of Novo Nordisk and its diabetes and weight-loss products. Meanwhile, Sweden’s progress has been fueled by a more diverse roster of mainly small- and medium size research and production companies as well as bold start-ups, many of which have achieved notable success, such as Calliditas, Bioarctic and Orexo to name a few.

The number of Swedish life science companies doubled between 2010 and 2020, reaching 3 300, and the growth shows no sign of slowing. The latest data from 2023 estimates the presence of around 4,000 companies (3). The life science sector is now increasingly regarded as one of Sweden’s key industries, alongside steel, forestry, and automotive, employing approximately 50,000 people—many with advanced degrees.

Nordic collaboration key to success
Marjo Puumalainen, Program Director of Nordic Life Science Days, the largest life science conference dedicated to the Nordics, has witnessed this remarkable growth firsthand. “The Nordic life science industry is experiencing rapid expansion,” she explains. “It’s clear we need a dedicated space to connect and showcase Nordic companies to international investors and pharmaceutical giants.” This growth is evident on the exhibition floor during NLSDays, as the conference has expanded each year since its inception in 2013, becoming the premier partnering event for companies across the Nordics. It also attracts participants from Europe and beyond, all eager to forge new business connections.

International competition, however, remains fierce, with other regions vying for the attention of investors, talent, and big pharma. Puumalainen believes that greater Nordic cooperation is essential for competing on the global stage and solidifying recent gains. “In such a competitive global landscape, our smaller Nordic countries must unite and strategize wisely. By continuing to collaborate effectively, the future of Nordic life science holds tremendous promise,” she says.

Notes
1: https://www.dn.se/ekonomi/lakemedelsexport-fortsatter-att-boosta-svensk-ekonomi/
2: https://www.newsoresund.se/svensk-och-dansk-life-science-industri-allt-viktigare-for-landernas-ekonomier/
3: https://www.vinnova.se/en/publikationer/statistics-on-swedish-life-science-companies/