Population aging is expected to lead to strong growth in healthcare expenditure as a share of GDP. So far, costs have increased only modestly in international comparison. Over the next ten years, the baby boomers will reach ages (61-70 years) where per capita pharmaceuticals consumption is greatest. Thus, healthcare expenditure is expected to expand rapidly, reflecting this higher demand for pharmaceuticals. The share of domestic production in the Finnish pharmaceutical market has declined considerably along with keener competition in the market. On the other hand, higher competition has kept cost increases at subdued levels.
