Italy's pharma market slump set to continue, warns GlobalData
The value of Italy’s pharmaceutical market will continue to fall in the foreseeable future, due to government support of generics and a stringent drug pricing policy, states the latest report from research and consulting firm GlobalData.
The new analysis expects revenue for the Italian pharmaceutical market to drop from $25.1 billion in 2012 to $23.5 billion in 2020 - a decrease of $1.6 billion in just eight years.
GlobalData's negative growth forecast is driven by the government's plans to maintain its hard-line approach to health care spending. The Italian Medicines Agency (AIFA) negotiates drug prices through internal and external referencing, and if the drug manufacturer does not agree with the AIFA's suggested price, the product becomes non-reimbursable - substantially restricting market potential.
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