The Norwegian health industry has flourished in the recent years, especially in the fields of pharmaceuticals and biotechnology, with the main industry players, Photocure, Algeta and Clavis, situated in the Oslo region.
The health industry is one of the industries with highest potential, and according to a 2011 survey conducted by The Research Council of Norway, the majority of Norwegian managers believe that biotech will become as important in the future as the oil and gas industry is today.
According to a national analysis, A knowledge-based Norway, the Norwegian health industry scores high in science and innovation attractiveness – important factors in global competitiveness. One of the reasons for the high score in science and innovation is explained by the highly innovative diagnostic firms with more than 50% of firms reporting product innovation. Diagnostic and treatment firms are also dedicating substantial resources and personnel to R&D.
Furthermore, the economic activity in the Norwegian health industry is highly concentrated in the Oslo region, where the emerging health clusters are situated; Oslo Cancer Cluster, Oslo Medtech and Nansen Neuroscience Network.
The analysis also mentions health related biotechnology as the largest opportunity in the future.