Best place for health innovation and research
Health & Wellbeing

The combination of world-class biobanks, isolated gene pool, extensive healthcare registries and regulation makes Finland a unique test lab worldwide.

Most advanced clinical testbed in the world

 

Digitalization will put the patient at the center of health processes – making disease prevention as important as cure, delivering care from the hospital to the home. This is what we call digital health – and in Finland it is happening now. Famous for high tech in IT and communications, Finland has the world´s highest number of digital health startups relative to the size of the country. GE Healthcare recently chose Helsinki as its global digital health development center – proof that Finland is top in tight international comparisons. Finland has been one of the pioneers in health-related digitalization; indeed, national health registries have been held in databases since the 1960’s.

 

 

Today, Finland’s public healthcare system boasts an electronic healthcare record (EHR) penetration of 100%. The first tissue samples were collected for Finnish biobanks almost 100 years ago. Thus, Finland offers a unique genome which makes the country and its population an interesting subject for research. People take part willingly in medical studies and allow the use of their personal data for research and R&D. By enacting the Biobank Act, the first law of its kind in Europe to apply to all the biobanks in one country, Finland has effectively reduced the time to market for new drugs, technologies and solutions. Finland is now in a unique position to allow the launch of commercial genome services and it is no surprise that even the largest companies are showing keen interest. In 2015, Turku-based Auria was the first Finnish biobank to sign a collaboration contract with a global life sciences’ player, Bayer Pharma AG.

 

Finland offers the best market conditions for starting a health business in EU

Unique compound of local and global expertise

 

Many foreign companies have established R&D operations in Finland, benefitting from a large pool of highly educated professionals and a wide range of supporting services. Multinationals investing in Finland, initially through acquisitions, include Bayer, Perkin Elmer, GE Healthcare, Philips Healthcare, Thermo Fischer Scientific, Danaher, Varian Medical Systems and Elekta. Investment has been encouraged by the high level of co-operation between industry and Finland’s academic hospitals and research institutions. Fifteen universities and institutions offer world-class expertise in various fields of medicine, the life sciences and clinical research. Superior expertise and research is available, for instance, in bioinformatics, diagnostics, oncology, neuroscience and diabetes. The establishment of testbed environments “living labs” in university hospitals and clinics answer industry’s needs for collaboration with healthcare providers and the acceleration of commercialization of new products. Some Finnish testbeds even allow for the controlled use of innovations without compromising patient safety.

 

 

 

Inject your business with significant growth

 

Today, health technology is the largest and most significant export segment in Finnish high-tech trade in goods. Finland is one of only seven countries in the world to export more med tech than it imports. Through global recessions, health technology exports in Finland have increased at an average annual rate of over 8% for the past two decades and were EUR 2 billion in 2015.

There are over 500 companies in Finland operating in health technology, eHealth, biotech, genomics research – as well as big pharma. Dozens of multinational enterprises have invested in manufacturing and R&D in Finland, particularly in the fields of medical equipment and in vitro diagnostics over the past two decades. The life sciences employ 90,000 people in Finland with the majority of these professionals holding at least a master’s degree. The labor force is well-educated, speaks English and other languages and salary level of high skilled employees is extremely competitive by international comparison.

 

FinlandCare brings together the most distinguished Finnish healthcare, well-being services and technology providers. Read more

Want to know more about the future of digital health? Visit Finland Health portal to learn more about the most distinguished Finnish healthcare, well-being services and technology providers here.

 

Nora Kaarela

Head of Industry

Expertise:

Health & Wellbeing

Email:

nora.kaarela[at]finpro.fi

Phone:

+358 400 897 020

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