Key regions: South Korea, India, China, Australia, Italy
Italy, a country known for its rich cultural heritage, is also a significant player in the global pharmaceutical industry. The vaccines market in Italy has been growing steadily in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Italian consumers are becoming increasingly aware of the importance of vaccines in preventing diseases. As a result, there has been a growing demand for vaccines in the country, particularly for influenza and COVID-19 vaccines. The COVID-19 pandemic has also led to a surge in demand for other vaccines, as people seek to protect themselves against other infectious diseases.
Trends in the market: The vaccines market in Italy has been witnessing several trends in recent years. One of the significant trends is the increasing adoption of vaccines by adults. While vaccines were traditionally associated with children, there has been a growing awareness among adults of the need to protect themselves against infectious diseases. Another trend is the growing demand for combination vaccines, which offer protection against multiple diseases in a single shot. This trend is particularly evident in the pediatric vaccines segment.
Local special circumstances: Italy has a well-developed healthcare system, which provides universal coverage to its citizens. The country's healthcare system is funded by a combination of public and private sources, with the government playing a significant role in funding and regulating the sector. The government also has a centralized procurement system for vaccines, which ensures that vaccines are available at affordable prices across the country.
Underlying macroeconomic factors: Italy's pharmaceutical industry is one of the largest in Europe, with several multinational pharmaceutical companies having a presence in the country. The government has been actively promoting the growth of the pharmaceutical industry, with various incentives and tax breaks for companies that invest in research and development. The country's aging population is also a significant factor driving the growth of the vaccines market, as older adults are more susceptible to infectious diseases.In conclusion, the vaccines market in Italy is growing steadily, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors. The growing awareness among consumers of the importance of vaccines, the increasing adoption of vaccines by adults, and the demand for combination vaccines are some of the significant trends in the market. The country's well-developed healthcare system, centralized procurement system, and the government's support for the pharmaceutical industry are also contributing to the growth of the vaccines market in Italy.
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.
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