Industry · municipality
The Pharmacy Industry in Oslo: Industry Analysis and Development Trends
A detailed overview of pharmacies' economics, companies, and future perspectives in Oslo
Economic Overview
Sales Development:
- 2024: NOK 4165.5M
- 2025: NOK 4245.4M (increase of +1.9%)
Employees:
- 2025: 1579 employees
- 2026: 1700 employees (increase of +7.7%)
Critical Trends:
- Sales experienced a sharp decline of -25.5% from 2016 to 2017, but stabilized with a rise of +66.6% from 2017 to 2018.
- Employees had fluctuating development, with a decline of -4.6% from 2017 to 2018, but a strong increase of +12.1% from 2021 to 2022.
Table: Sales and Employees per Year
| Year | Sales (NOK) | Employees |
|---|---|---|
| 2016 | 2828.5M | 1586 |
| 2017 | 2106.0M | 1603 |
| 2018 | 3509.0M | 1530 |
| 2019 | 3727.1M | 1614 |
| 2020 | 3628.0M | 1545 |
| 2021 | 3565.1M | 1451 |
| 2022 | 3989.3M | 1627 |
| 2023 | 3683.5M | 1699 |
| 2024 | 4165.5M | 1618 |
| 2025 | 4245.4M | 1579 |
| 2026 | - | 1700 |
Companies in the Industry
Key Companies:
- Vitusapotek Jernbanetorget (Jernbanetorget 4, Oslo)
- Organizational Form: AS
- Employees: 58
- Sales: NOK 212.8M
- EBITDA: NOK 13.2M
- Apotek 1 Sfinxen (Bogstadveien 51, Oslo)
- Organizational Form: AS
- Employees: 50
- Sales: NOK 135.4M
- EBITDA: NOK 9.9M
- Apotera.no (Haraldrudveien 11, Oslo)
- Organizational Form: AS
- Employees: 41
- Sales: NOK 9.7M
- EBITDA: NOK -4.6M (negative margin)
Organizational Form:
- AS is the dominant form (119 companies, 1739 employees).
- Most companies have positive EBITDA, but some like Apotera.no have negative values.
Business Geography
Distribution by District:
- Oslo (1 district):
- Number of companies: 119
- Employees: 1739
- Sales: NOK 3894.0M
- EBITDA: NOK 234.0M
Critical Analysis:
- Only one district (Oslo) is reported for this industry, which may indicate a centralized structure.
- High sales and EBITDA in Oslo suggest a strong market position in the capital.
Business Dynamics
Bankruptcies and Risk:
- No bankruptcies reported for the pharmacy industry in Oslo.
- Negative EBITDA:
- Apotera.no has an EBITDA margin of -47% (2020), which could be a warning for new companies.
Stable Companies:
- Most companies have positive EBITDA and stable growth (e.g., Vitusapotek Jernbanetorget with +9% sales growth).
- Low bankruptcy risk in the industry, but variable economic performance between companies.
Outlook
Outlook for Entrepreneurs
Positive Trends:
- Rising sales (+1.9% from 2024 to 2025) and increasing number of employees (+7.7% from 2025 to 2026) indicate a growing industry.
- Low bankruptcy risk in the industry makes Oslo an attractive place for new pharmacies.
Outside Factors:
- Variable EBITDA between companies (from -47% to +7%) means entrepreneurs must carefully consider location and business model.
- Low bankruptcy risk in the industry is a positive, but it is important to analyze competitors like Vitusapotek and Apotek 1 to find differentiation opportunities.
Outlook for the Craftsmanship Sector
Contrast to the Pharmacy Industry:
- Craftsmanship has 157 companies in Oslo, while pharmacies have 144 companies (the industry is part of the craftsmanship sector).
- Sales in the craftsmanship sector had an increase of +12.8% from 2023 to 2024, while pharmacies had +1.9%.
Peer Companies:
- Krogh Optikk (medical/orthopedic goods store) has a higher EBITDA (NOK 6.1M) than pharmacies.
- Natus Medical Norway As has no employees, but high sales (NOK 5.9M).
Conclusion:
- The craftsmanship sector has a broader variation in companies and higher sales, but pharmacies have a more stable economy with lower bankruptcy risk.
Other companies in håndverk (not in pharmacy)
| Company | Industry | Address | Sales | Employees | EBITDA |
|---|---|---|---|---|---|
| Krogh Optikk Majorstuen | medical/orthopaedic goods store | Kirkeveien 64A, 0364 Oslo | NOK 48.4M | 35 | NOK 6.1M |
| Krogh Optikk Karl Johans Gate 2 | medical/orthopaedic goods store | Karl Johans gate 2, 0154 Oslo | NOK 48.2M | 40 | NOK 6.0M |
| Krogh Optikk Cc Vest | medical/orthopaedic goods store | Lilleakerveien 16, 0283 Oslo | NOK 20.5M | 18 | NOK 2.6M |
| Krogh Optikk Storo | medical/orthopaedic goods store | Vitaminveien 7, 0485 Oslo | NOK 13.9M | 9 | NOK 1.7M |
| Synsam Oslo Manglerud | medical/orthopaedic goods store | Plogveien 6, 0679 Oslo | NOK 7.4M | 5 | NOK 1.4M |
| Krogh Optikk Paleet | medical/orthopaedic goods store | Karl Johans gate 37, 0162 Oslo | NOK 10.0M | 7 | NOK 1.3M |
| Krogh Optikk Byporten Shopping | medical/orthopaedic goods store | Jernbanetorget 6, 0154 Oslo | NOK 8.0M | 6 | NOK 1.0M |
| Natus Medical Norway As | medical/orthopaedic goods store | Olaf Helsets vei 5, 0694 Oslo | NOK 5.9M | 0 | NOK 241.0K |
| Dt&shop Norge As | medical/orthopaedic goods store | c/o Torgbygget|Nydalsveien 33, 0484 Oslo | NOK 8.0M | 0 | NOK 49.0K |
| Cream As | medical/orthopaedic goods store | Stålfjæra 20, 0975 Oslo | NOK 0 | 0 | NOK 0 |
| Norsk Lymfødemklinikk Avd. Kompresjon Ans | medical/orthopaedic goods store | Lovisenberggata 7C, 0456 Oslo | NOK 0 | 1 | NOK 0 |
| Skape Genius As | medical/orthopaedic goods store | Oscars gate 27, 0352 Oslo | NOK 0 | 0 | NOK 0 |
| Wøllo Invest As | medical/orthopaedic goods store | Welhavens gate 6A, 0166 Oslo | NOK 0 | 0 | NOK -86.0K |
Conclusion
Summary:
- The pharmacy industry in Oslo has stable sales (NOK 4245.4M in 2025) and increasing number of employees (1700 in 2026).
- Low bankruptcy risk and stable companies (e.g., Vitusapotek) make Oslo an attractive place for entrepreneurs.
- The craftsmanship sector has a broader variation, but pharmacies have a more stable economy.
SmartGrunder can help entrepreneurs find suitable locations and analyze competitors in Oslo for the pharmacy industry.
Executive Summary
Key Figures:
- Number of companies: 144
- Employees: 1739
- Sales: NOK 4245.4M (2025)
- EBITDA: NOK 234.0M
Trends:
- Rising sales (+1.9% from 2024 to 2025)
- Rising employees (+7.7% from 2025 to 2026)
- Low bankruptcy risk in the industry
Outlook:
- Oslo is an attractive place for pharmacy entrepreneurs with stable companies and low bankruptcy risk in the industry.