This is a best prospect industry sector for this country. Includes a market overview and trade data.

Overview

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.
 2014201520162017 (Estimated)
Total Local Production    
Total Exports    
Total Imports    
Imports from the US
 		    
Total Market Size    
Exchange Rates    
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

General drugs as well as generic drugs, OTC pharmaceuticals and supplements such as vitamins.

Opportunities

Lack of OTC cold and flu medicine in Iceland is striking, with few products on the market compared with other western markets.

Web Resources

Ministry of Welfare (https://www.government.is/ministries/ministry-of-welfare/)
Rikiskaup (www.rikiskaup.is)
Tenders Electronic Daily (TED) (www.ted.europa.eu/TED/main/HomePage.do)
 

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