The Pharmacy Industry in Narvik: Industry Analysis and Development Trends

The pharmacy industry in Narvik has proven to be a stable and important part of the municipality's economy. With four registered companies and a total wage cost of NOK 23.9 million, the industry is characterized by a combination of large and small businesses. In recent years, there has been a weak positive development in sales, with an increase of 9% from 2024 to 2025. However, the number of employees has shown more variation, with a decline from 2018 to 2022 followed by a mild increase in 2023 and 2024. This indicates that the industry faces certain challenges in maintaining its workforce, but at the same time shows a degree of stabilization.

Economic Trends

Sales have shown significant variations over time, with a sharp decline of 38.2% from 2016 to 2017, followed by a strong increase of 111.2% in 2018. This may be due to a combination of market changes and business development. The number of employees has also shown variations, with a peak in 2018 and a decline until 2022 followed by a mild increase in 2023. This development indicates that the industry has been affected by both expansion and reductions over time.

Registered Companies

The following companies are registered in the pharmacy industry in Narvik:

1. Apotek 1 Bien Narvik – Bolagsgata 1, Narvik. Company form: AS. Number of employees: 30. Sales: NOK 77.3M. EBITDA: NOK 5.7M.
2. Vitusapotek Svanen Narvik – Kongens gate 66, Narvik. Company form: AS. Number of employees: 11. Sales: NOK 35.5M. EBITDA: NOK 2.2M.
3. Sleep Scandinavia As – Brugata 4, Narvik. Company form: AS. Number of employees: 6. Sales: NOK 8.9M. EBITDA: NOK 0.095M.
4. Vitusapotek Frydenlund – Frydenlundgata 15, Narvik. Company form: AS. Number of employees: 6. Sales: NOK 11.8M. EBITDA: NOK 0.734M.

All companies have AS as their company form, which indicates that they are large and well-organized businesses. There are no registered bankruptcies among these companies, which shows a degree of economic stability.

All businesses in the pharmacy industry in Narvik are located in the city of Narvik itself. There is no activity registered in other city districts or municipalities. This indicates that the industry is centrally located in the municipality's main city, which can be an advantage for customer access and collaboration partners.

The industry has proven to be relatively stable in terms of bankruptcy and economic operations. There are no registered bankruptcies among the four companies, which indicates that they have good financial health. EBITDA margins range from 6-7%, which is reasonable for an industry with high operating costs. However, some companies have shown lower EBITDA margins, such as Sleep Scandinavia As, which had a margin of 1%. This may be due to special circumstances within the company or another operational strategy.

Outlook for Entrepreneurs

For entrepreneurs considering starting a business in the pharmacy industry in Narvik, the data indicate a mix of opportunities and challenges. Sales have shown a positive trend in recent years, with an increase of 9% from 2024 to 2025. This may be a sign of increasing demand for pharmacy services in the municipality. However, competition is strong, with four existing companies already established in the market. EBITDA margins are at a reasonable level, indicating that it is possible to achieve profitability. SmartGrunder can help entrepreneurs find suitable addresses and locations in Narvik for pharmacy operations, based on data and market analyses.

The pharmacy industry in Narvik proves to be a stable and important part of the municipality's economy. With four companies and a degree of economic stability, the industry is well positioned in the municipality's main city. In recent years, there has been a positive development in sales, indicating increasing demand for pharmacy services. For entrepreneurs, this can be an opportunity, but the competition is strong. SmartGrunder can help find suitable locations and addresses in Narvik for pharmacy operations, based on data and market analyses.