Market Trends of Italy Pharmaceutical Industry
This section covers the major market trends shaping the Italy Pharmaceutical Market according to our research experts:
Prescription Drugs segment Holds the Largest Share and Expected to do Same in the Forecast Period
Italy Prescription Drugs category is estimated to account for the largest share over the forecast period. The growth drivers for this sector are technology, the supportive regulatory landscape, the preference of pharmaceutical manufacturers towards Rx medicines, and new drug launches have also led to this rising trend.
Prescription drugs are available with a valid prescription from a prescriber. These drugs are heavily regulated and require a visit to a doctor, a diagnosis and monitoring by a doctor to ensure the medication is working and that it is working safely. These drugs are intended for use by one individual patient to treat a specific condition and when doctors write prescriptions, they take into consideration a lot of information about their patients, including their current condition, other medications they may be taking, their vital statistics, and drug allergies they may have. That's why a prescription medication that is safe and effective for one person may be dangerous for another. Furthermore, the increasing growth in population and rise in the chronic disease such as cardiovascular and cancer which is the leading cause of death in the country, have also contributed to the growth of this market. Moreover, along with a growth in the per-capita healthcare spending in the country, the rise in people's discretionary income is also expected to drive the market growth of the Prescription drugs segment during the forecast period from 2020-2025.
The new clinical trials, increased research and development expenditure, increased product launches, growing burden of diseases globally are the factors which are expected to drive the prescription drugs segment during the forecast period. For instance, in August 2021, Zydus Pharmaceuticals Inc, USA entered into a license and supply agreement with CHEMI SpA of Italy, a subsidiary of Italfarmaco Group, to launch the generic equivalent of Lovenox (Enoxaparin Sodium Injection) in seven dosage strengths in the United States. It is used in patients undergoing abdominal, hip or knee replacement surgery. Thus, owing to the above-mentioned factors, prescription drugs segment is expecetd to contribute significantly to the market growth.
