While Lithuania, Latvia and Estonia have much in common – small, high-income economies and Eurozone members situated on the Eastern coast of the Baltic Sea – the Baltic states are not a homogenous block.
Lithuania, for example, shares many similarities with neighboring Poland; Latvia takes its cultural cues from Russia; while Estonia exudes Scandinavian characteristics due to its proximity to Finland.
In healthcare and the life sciences too, the Baltic states differ greatly.
Lithuania, the largest market of the three, has a historic expertise in laser technology which is contributing to a thriving homegrown biotechnology industry.
Latvia, on the other hand, boasts a strong industrial base and sees increasing numbers of medical tourists each year, although its government is working to reform what is a stretched public healthcare system.
Estonia, the smallest of the three nations by population, has bet big on the digital revolution, with all public healthcare records now stored using blockchain technology and a number of innovative start-ups in the digital health space.
This report provides pharmaceutical executives with an insider's look at the peculiarities of these small but promising markets, as well as the ways in which actors from across the Baltics are working together on issues such as regulatory harmonization for medicine approvals and innovation clustering to propel the region’s industry forward.