The turnover of basic pharmaceutical products in Italy gradually increased from 4.55 billion Euros in 2013 to 5.75 billion Euros in 2023. The sector experienced fluctuations, with a noticeable decline in 2014 and significant growth in 2015 and 2019. The year-on-year variations highlighted both positive and negative changes, such as an 8.63% decrease in 2014 and an 8.71% increase in 2019. The Compound Annual Growth Rate (CAGR) depicted an average yearly growth with notable peaks and declines over the period. By 2023, the sector had a CAGR of 3.89% over the last five years.
Future trends to watch for include:
- The projected steady growth in turnover from 2024 to 2028, with an estimated CAGR of 1.89% and an overall growth rate of 9.81% by 2028.
- Advancements in pharmaceutical technology and research which can significantly impact production efficiencies and market dynamics.
- Policy changes and economic shifts in Italy and Europe affecting the pharmaceutical regulations and market performance.