Pharmaceuticals - Italy

Italy

In 2024, the revenue in the Pharmaceuticals market in Italy is projected to reach €15.88bn.
The largest market within the pharmaceuticals industry is Oncology Drugs, with a projected market volume of €2.81bn in 2024.
It is expected that the revenue will experience an annual growth rate of 4.22% from 2024 to 2029, resulting in a market volume of €19.53bn by 2029.
When compared globally, United States is expected to generate the highest revenue, reaching €584.50bn in 2024.
Italy's pharmaceutical market is thriving, driven by a strong focus on research and development, advanced healthcare infrastructure, and a growing aging population.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

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Analyst Opinion

Italy, known for its rich history, culture and cuisine, is also a significant player in the global pharmaceuticals industry.

Customer preferences: The Italian population has a high demand for pharmaceutical products, with a focus on prescription drugs. The aging population in Italy has resulted in an increase in demand for drugs that treat chronic diseases such as hypertension, diabetes, and cardiovascular diseases. Additionally, there is a growing trend towards natural and herbal remedies, as Italians are becoming more conscious of their health and wellness.

Trends in the market: The Italian pharmaceuticals market has been experiencing steady growth in recent years, driven by the increasing demand for prescription drugs and the growing trend towards natural and herbal remedies. The market is highly competitive, with both domestic and international players vying for market share. In recent years, there has been a trend towards consolidation, with larger companies acquiring smaller ones to expand their product portfolios and increase their market share.

Local special circumstances: One unique aspect of the Italian pharmaceuticals market is the role of the National Health Service (NHS) in regulating drug prices. The NHS negotiates prices with pharmaceutical companies, which can result in lower prices for consumers. However, this can also lead to a slower uptake of new drugs, as companies may be hesitant to launch products in Italy due to the lower prices they can command.

Underlying macroeconomic factors: The Italian pharmaceuticals market is influenced by a variety of macroeconomic factors, including government policies, healthcare spending, and the overall state of the economy. With Italy facing economic challenges in recent years, there has been pressure to reduce healthcare spending, which can impact the pharmaceuticals market. Additionally, changes in government policies, such as drug pricing regulations, can impact the profitability of pharmaceutical companies operating in Italy.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.