Italy

Italy: a strong Pharma and OTC market in Europe

Italy’s investment in R&D pushed them to rank amongst the strongest Pharma and OTC market in Europe and is setting the tone for its development over the next few years. 

Italy is not only great for pizza and pasta; it also boasts a large OTC and Pharma mar­ket. Together with Germany, it is a European leader whose exports have grown by 168% from 2010 to 2020. The self-medication and Rx market should reach a worth of USD 70.37 billion in value in 2040, according to our estimation.

In recent years, the country has invested a lot of money in research and devel­op­ment. € 1.6 billion were investments, of which over €700 were dedicated to clinical trials, generating new knowledge and skills. Another €1,4 Billion were invested for production purposes. 

Italy got first place in the EU (and fourth in the world)  for scientific publications on Covid-19 which at least 75% were open access publications. 

After the pandemic, The market is undergoing a significant digital transformation, with the vast majority of OTC and pharma companies continuing to invest in digital technologies. Hundreds of telemedicine initiatives are being implemented, many through collaborative platforms developed in partnership with industry players, signaling a strong and ongoing shift toward digital healthcare solutions.

The Italian OTC and pharma market employs 66,500 people and 146,000 in allied industries. Employment has risen at a higher rate than in other sectors thanks to the industry dynamism, and its sustainable openness for growth and development.

Almost half of the population in Italy take medicinal products in Italy and they use 19% of their per capita spending on public consumer healthcare and pharma products, because of the availability and access to new and existing medicines. 

The OTC and Rx industry in Italy is continuously growing and has the opportunity for expanding as the industry is transforming and shaping along with the market requirement and by implementing good business policies. If you want to take advantage of this growing market, Chameleon Pharma Consulting Group is here to assist you!