OTC Products - Italy

Italy

The OTC Products market in Italy is expected to witness a significant growth in revenue, with projections indicating that it will reach a staggering €5,187.00m in 2024.
Furthermore, this market is anticipated to display a promising annual growth rate of 3.12% from 2024 to 2029.
As a result, the market volume is projected to reach an impressive €6,049.00m by 2029.
When comparing the global landscape, it is worth noting that China is expected to generate the highest revenue in the OTC Products market, with a substantial figure of €69.46bn in 2024.
In terms of per capita revenue, in Italy is projected to generate approximately €88.36 per person in 2024.
This figure showcases the level of revenue generated by each individual in the country, highlighting the significance of the OTC Products market within the Italian economy.
In Italy, the market for OTC products is experiencing a surge in demand for herbal supplements and natural remedies.

Key regions: Europe, Australia, United Kingdom, Germany, South Korea

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Analyst Opinion

The OTC Products (Pharmacies) market in Italy has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to the development of this market. Customer preferences in Italy have played a significant role in the growth of the OTC Products (Pharmacies) market. Italian consumers have shown a growing interest in self-care and taking a proactive approach to managing their health. They are increasingly seeking out OTC products that can help them address common health issues without the need for a prescription. This preference for self-care has fueled the demand for a wide range of OTC products, including pain relievers, cough and cold remedies, and skincare products. Trends in the market have also contributed to the growth of the OTC Products (Pharmacies) market in Italy. One notable trend is the increasing availability of OTC products in pharmacies. Pharmacies in Italy have expanded their product offerings to include a wider range of OTC products, making it more convenient for consumers to access these products. This trend has been driven by changes in regulations that have allowed pharmacies to sell a broader range of OTC products. Additionally, pharmacies have invested in marketing and promotional activities to raise awareness and educate consumers about the benefits of OTC products. Local special circumstances have also played a role in the development of the OTC Products (Pharmacies) market in Italy. The country has a well-established network of pharmacies, with a high density of pharmacies per capita. This widespread availability of pharmacies has made it easier for consumers to access OTC products. Furthermore, the Italian healthcare system encourages self-care and the use of OTC products as a cost-effective way to manage minor health issues. This cultural acceptance of self-care has created a favorable environment for the growth of the OTC Products (Pharmacies) market. Underlying macroeconomic factors have also contributed to the development of the OTC Products (Pharmacies) market in Italy. The country has experienced stable economic growth in recent years, which has increased disposable incomes and consumer spending. As a result, consumers have more purchasing power to spend on OTC products. Additionally, the aging population in Italy has contributed to the growth of the OTC Products (Pharmacies) market. Older adults are more likely to require OTC products for managing chronic conditions and age-related health issues, driving demand in the market. Overall, the OTC Products (Pharmacies) market in Italy is developing due to customer preferences for self-care, trends in the market such as the increasing availability of OTC products in pharmacies, local special circumstances such as the widespread availability of pharmacies, and underlying macroeconomic factors such as stable economic growth and an aging population. These factors have created a favorable environment for the growth of the OTC Products (Pharmacies) market in Italy.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.