Key Market Indicators
Iceland's sales of anti-infective medicines are projected to hit approximately $53 million by 2028, up from around $44 million in 2023. This growth represents an average annual increase of nearly 3%. Since 1985, the Icelandic market has seen a robust annual growth rate of about 7%. In 2023, Iceland ranked 13th in the global market, with New Zealand slightly ahead at approximately $44 million. Leading the rankings were Spain, Croatia, and Australia, occupying the second, third, and fourth positions respectively. In a related sector, Iceland's antibiotics imports are expected to rise to roughly $142,000 by 2028, compared to around $126,000 in 2023. This marks an average annual growth rate of about 2%. Since 1993, the country's demand for antibiotics has increased by nearly 2% annually.
