Other Pharmaceuticals - Italy

Italy

The revenue in the Other Pharmaceuticals market in Italy is projected to reach €6.73bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 3.41%, resulting in a market volume of €7.96bn by 2029.
In global comparison, United States is expected to generate the most revenue with €241.60bn in 2024.
Italy's pharmaceutical market is experiencing a surge in demand for alternative medicines and natural remedies.

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

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Analyst Opinion

The Other Pharmaceuticals market in Italy has been experiencing growth in recent years, driven by several factors.

Customer preferences: Customers in Italy are increasingly seeking alternative treatments to traditional pharmaceuticals, leading to a rise in demand for Other Pharmaceuticals. This trend is driven by a growing awareness of the potential side effects of traditional drugs, as well as a desire for more natural and holistic approaches to healthcare.

Trends in the market: One trend driving growth in the Other Pharmaceuticals market in Italy is the increasing popularity of herbal and plant-based remedies. Italian consumers have a long history of using herbs and plants for medicinal purposes, and this trend has only intensified in recent years. Additionally, there is a growing demand for homeopathic remedies, which are seen as a more natural and gentle approach to healthcare.Another trend driving growth in the Other Pharmaceuticals market in Italy is the increasing use of supplements and vitamins. Italian consumers are becoming more health-conscious, and are seeking out supplements to support their overall health and wellbeing. This trend is particularly strong among older consumers, who are looking for ways to maintain their health and vitality as they age.

Local special circumstances: Italy has a rich tradition of herbal medicine, which has helped to drive the growth of the Other Pharmaceuticals market. Italian consumers are familiar with the use of herbs and plants for medicinal purposes, and this familiarity has made them more receptive to alternative treatments. Additionally, the Italian government has been supportive of the use of alternative medicines, which has helped to boost the market.

Underlying macroeconomic factors: The Italian healthcare system is facing significant challenges, including rising costs and an aging population. As a result, there is a growing interest in alternative treatments that can help to reduce healthcare costs and improve patient outcomes. Additionally, the Italian economy has been struggling in recent years, which has led to a greater focus on cost-effective healthcare solutions. The Other Pharmaceuticals market is seen as a way to provide affordable and effective healthcare to Italian consumers.

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.