Market Trends of Italy OTC Drugs Industry
This section covers the major market trends shaping the Italy OTC Drugs Market according to our research experts:
Cough, Cold, and Flu Products are Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as the increasing geriatric population, increasing cough and flu cases, and product launches by key market players are expected to increase the segmental growth in the country in the upcoming period. According to the World Population Aging 2022 report, published by the United Nations, in 2022, In 2021, 23.4 percent of the total population in Italy was 65 years and older. According to data, the share of elderly people in Italian society has been growing constantly in recent years. Consequently, the share of the young population experienced a decrease in the last years. As a result, the average age of Italians has risen. The massive increase in the geriatric population is expected to increase the prevalence of diseases as the older population is prone to diseases due to weak immune systems. This is expected to boost the market growth in the country.
Moreover, increasing flu cases are another factor in the growth of the segment. For instance, in March 2022, an article published titled "The Burden of Seasonal Influenza in Italy: A Systematic Review of Influenza-Related Complications, Hospitalizations, and Mortality" stated that Hospitalization due to influenza can occur in as much as 5% of infected people depending on the study setting. Excess death rates were over sixfold higher in the elderly as compared with the rest of the population.
Product launches are another factor in the growth of the market. For instance, in October 2020, GSK Consumer Healthcare launched Robitussin Naturals, the brand's first-ever line of drug-free products that provide relief from occasional cough. Hence, the above factors and research studies are further expected to improve the market growth in this segment.
