The Health Industry Is On the Rise

For the third year running, Menon Economics presented a report on “The Value of the Norwegian Health Industry”. The conclusion: Both the industry and exports are growing substantially. We see an increase in export income, research and innovation levels.

The report was launched at “Næringslivets Hus”, the home of NHO, and gathered a full house with people from the industry, public sector, press and the political sphere present.

Indications Verified: The health Industry is Growing
The report showed that export income is increasing and are estimated at 23.5 billion NOK, an estimate that is viewed as conservative. The report also finds an increase in private funds for research. In 2017, research and development funds originating from the private sector was in total 2.6 billion NOK.

In addition, the report notes an increase in start-up companies and innovation levels, but emphasizes a lack of available funds to realize projects in vulnerable phases.

The report’s main focus is the industry’s value contribution, which means contribution to BNP, jobs creation and tax income. However, in social economic terms, the report claims at present that as a benefit for society, the health industry is more important for the population and healthcare sector as a whole, rather than for economic growth alone.

Read the report. Download it here. (In Norwegian)

Can Help With White Paper
State Secretary Magnus Thue visited the launch of the report and talked about the upcoming White Paper on the Health Industry.

— Being healthy is a priced asset both for the individual and the society as a whole. This government prioritizes health and we want to create good working conditions for the industry.

And he added: – We will use this report as a backdrop when we are working on our White Paper.

We Have to Use Our Strengths
General Manager of Oslo Cancer Cluster Ketil Widerberg, is also happy for the report and that the health industry is on the rise.

— It means more and better treatment for people who need it!

However, he emphasized the importance of realizing that the health industry business is a global competition.

— This is an international competition and if we are to succeed, we have to succeed internationally! We need to use our strengths to position ourselves: That means putting our health data from our health registries to good use! This will prove beneficial both for industry and patient.

Behind the report is a consortium of contributors to the Norwegian Health Industry: NHO, Abelia, NHO Service, Oslo Cancer Cluster, Norwegian Smart Care Cluster, Inven2, The pharmaceutical Industry (LMI), Innovation Norway, The Norwegian Science Council, SIVA and Norway Health Tech.