Industry · municipality
Pharmacy Industry in Horten: Current Status and Future Prospects
Analysis of companies, economic trends, and development opportunities in the pharmacy sector in Horten Municipality (2016–2025).
Brief Overview of the Pharmacy Industry in Horten
Pharmacy in Horten is a stable and growing industry with 6 registered companies and over 60 employees. The industry has proven to be resilient over time, with an average annual sales growth of 8% from 2016 to 2025. The most notable development trends include a sharp decline in 2017 (81.3% fewer sales) that was offset by an extreme growth of 544.8% in 2018. Today, the industry is represented by both older established companies and new players, with an average EBITDA margin of 6%.
Economic Overview
Sales and Employee Development
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 105.9M | 59 |
| 2017 | 19.8M | 71 |
| 2025 | 184.7M | 61 |
The industry has experienced extreme fluctuations in sales, with an 81.3% decline in 2017 followed by a 544.8% growth in 2018. Although employee numbers have varied between 54 and 71 over the years, they stabilized at 61 in 2026. The average annual sales growth of 8% over the period 2016–2025 shows a long-term growth trend following the sharp decline in 2017.
Companies in the Industry
Registered Companies
| Name | Address | Incorporation Year | Employees | EBITDA (NOK) |
|---|---|---|---|---|
| Apotek 1 Fram Horten | Vognmannsgata 5 | 1965 | 15 | 1.4M |
| Apotek 1 Holtanløkka | Holtanløkka 1 | 2005 | 15 | 2.8M |
| Apotek 1 Åsgårdstrand | Grev Wedels gate 44 | 2010 | 14 | 1.4M |
| Apotek 1 Løven Horten | Teatergata 6 | 1965 | 10 | 1.4M |
| Vitusapotek Linden Park | Strandparken 3 | 2010 | 8 | 1.5M |
| Boots Apotek Horten | Trimveien 41A | 2021 | 6 | 361.2K |
All companies are organized as AS, and the oldest companies have been operational since 1965. The most profitable companies are Apotek 1 Holtanløkka (2.8M EBITDA) and Vitusapotek Linden Park (1.5M EBITDA).
Business Geography
Distribution by District
| District | Companies | Employees | Sales (NOK) | EBITDA (NOK) |
|---|---|---|---|---|
| Horten | 5 | 54 | 121.0M | 7.5M |
| Åsgårdstrand | 1 | 14 | 19.3M | 1.4M |
Horten dominates with 5 of the 6 companies and 54 employees, while Åsgårdstrand has one company with 14 employees. Sales figures show that Horten has a significantly higher value (121.0M vs 19.3M), but Åsgårdstrand has a higher EBITDA margin (7% vs 6%).
Operational Dynamics and Stability
Operational Dynamics
- Bankruptcies: None of the 6 companies are bankrupt, showing a stable industry.
- Growth Patterns: The two most notable growth periods are 2017→2018 (+544.8%) and 2020→2021 (+14.5%).
- Fluctuations: Employee numbers have varied between 54 and 71 over the years, with a 11.5% decline in 2020 and an 11.3% increase in 2022.
- Margins: Average EBITDA margin of 6% and average gross profit margin of 21,000% (based on data from districts).
Outlook for Entrepreneurs and Local Players
Future Perspectives
- Stable Market: With 6 companies and no bankruptcies over a 10-year period, the industry shows good resilience.
- Growth Opportunities: The average sales growth of 8% over 2016–2025 and the increasing EBITDA margin (from 6% in 2016 to 6% in 2025) indicate stable development.
- New Entrants: It is possible to establish oneself in the industry, especially by focusing on leveraging the high gross profit margin (21,000%) and high sales figures in Horten.
- External Economy: Increased population numbers in Vestfold and Telemark can create increased demand for pharmacy services.
Conclusion
Pharmacy in Horten is a stable and growing industry with good economic results and no bankruptcies over a 10-year period. With 6 companies and over 60 employees, as well as an average sales growth of 8% from 2016 to 2025, the industry shows good resilience. For entrepreneurs, it may be possible to establish themselves in a market segment that has proven to be robust and with high profit margins. SmartGrunder can help find suitable locations in Horten for pharmacy activities.