Italy Pharmaceutical Market Size (2024 - 2029)

Italy Pharmaceutical Market Analysis

The Italy Pharmaceutical Market size is estimated at USD 37.70 billion in 2024, and is expected to reach USD 44.80 billion by 2029, growing at a CAGR of 3.51% during the forecast period (2024-2029).

Italy is one of the world's leading pharmaceutical markets.

The COVID-19 pandemic is an unprecedented health concern and is adversely affecting communities, industries, businesses, and lives around the world. Many companies have already received approval for their vaccines against the Sars-CoV-2 virus and still focusing their research and development on the development of therapeutics against the COVID-19. COVID-19's immediate and direct potential impact has already led to the loss of millions of lives and a considerable increase in healthcare costs. As multiple potential medicines were tried before the development of vaccines and are used to treat the coronavirus-induced infection, other medical conditions arise due to it which is expected to complement the market. For instance, the medications such as Lopinavir/Ritonavir, hydroxychloroquine (HCQ), and Remdesivir are being repurposed to treat coronavirus infection in many countries around the world. As the country has the maximun number of production facilites, the lockdown reduced the production due to the less workforce presence which hampered the market growth of the industry.

In recent years, the Italian drug industry has expanded significantly in terms of growth, value-added, trade, and investment. With respect to research, Italy holds around 18% of the overall number of clinical trials authorized throughout the European Union. Over the years, the prevalence and incidence of many chronic and infectious diseases such as diabetes, cancer, and others, have increased many folds around the world which led to the high demand of the pharmaceutical products around the world and thus, driving the growth in the studied market.

However, In the next few years, the pharmaceutical sector in Italy may undergo a variety of obstacles. The rise in the Italian country's debt compared to GDP, and the country's underprivileged growth track may reduce the flow of money in the country, which means that the industry may falter, thus the development of the industry in the country can be hampered.

Italy Pharmaceutical Industry Segmentation

As per the scope of this report, pharmaceuticals are referred to as prescribed and non-prescription drugs. These medicines can be bought by an individual with or without the doctor's prescription and are safe for consumption for various illness with or without the doctor's consent. The Italy Pharmaceutical Market is segmented by ATC/Therapeutic Class (Blood and Hematopoietic Organs, Cardiovascular System, Dermatological, Gastrointestinal System and Metabolism, Nervous System, Respiratory System, and Others), Drug Type (Branded and Generic), and Prescription Type (Prescription Drugs (Rx) and OTC Drugs). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.