Italy General Surgical Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Italy General Surgical Devices Market Analysis
The Italian general surgical devices market is expected to register a CAGR of nearly 6.2% during the forecast period.
The pandemic had an adverse impact on the studied market. Various research studies shed light on the country's response to the pandemic. For instance, an article published in May 2022 in Frontiers stated that elective pediatric surgeries were canceled two days after the first positive patient was discovered. As all of the smaller local hospitals closed to centralize the treatment of critical diseases and trauma, attempting to limit the spread of the virus, the Rizzoli Orthopaedic Institute hospital was reorganized to receive the majority of fractures from the entire city. As a result, only trauma surgery and oncologic and urgent cases were permitted. However, initiatives by key market players such as product launches are expected to increase market growth. For instance, in September 2021, Canon Medical launched its latest 1.5T MR, the Vantage Elan/NX Edition. The new system completes Canon Medical's intelligent and productive MR portfolio. Thus, such initiatives are expected to increase market growth during the forecast period.
Factors such as rising demand for minimally invasive surgeries coupled with increasing cardiovascular diseases are expected to increase the market growth. According to an article published by the Minerva Cardiology and Angiology Journal, in June 2021, stated that it has been observed that the age-standardized estimates of cardiovascular disease prevalence in Italy are similar, but the country's crude prevalence is almost two times higher than the global prevalence (12.9% vs. 6.6%). Thus, the increasing prevalence of heart diseases is expected to fuel market growth in the country, as surgeries are often required.
Similarly, initiatives by key market players are another factor in market growth. For instance, in October 2021, Esaote proposed an open MRI system, Magnifico Open, with cutting-edge technology to satisfy clinical needs and address operational and financial demands. Magnifico Open is equipped with the most recent Esaote technologies, like Speed Up, to assure optimal image quality with reduced examination times. Thus, the abovementioned factors such as increasing cardiovascular diseases coupled with initiatives by key market players are expected to increase market growth.
However, stringent regulatory frameworks are expected to hinder the market growth.
Italy General Surgical Devices Market Trends
Cardiology Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as increasing cardiovascular diseases coupled with increasing research studies are expected to increase the market growth over the forecast period. Various research studies provide insight into the increasing number of CVDs in the country. For instance, an article published in March 2021 in the National Library of Medicine, stated that Italy has an almost two-fold greater CVD prevalence than the rest of the world (12.9% vs. 6.6%), while age-standardized figures are nearly similar (6.2% vs. 6.3%). Hence, the country's demand for emergency procedures and surgeries is expected to increase. Thus, it is anticipated to generate demand for the surgical devices required in health centers, ultimately driving market growth during the forecast period. Furthermore, an article published in Europe PMC in March 2021 stated that Italy has an almost two-fold greater CVD prevalence than the rest of the world (12.9 percent vs. 6.6 percent), while age-standardized figures are similar (6.2% vs. 6.3%). Thus, as a large proportion of the population in the country is older and is likely to suffer from cardiac diseases, the demand for surgical devices used for the treatment is expected to increase over the forecast period. According to a research study that was published in December 2021 in the National Library of Medicine, an increasing number of cancer patients are dying from cardiovascular disease (CVD), particularly those who have survived longer than five years after receiving a diagnosis of breast, colorectal, prostate, bladder, or melanoma. According to our study, the most dangerous time for an increased risk of dying from CVD is during the acute phase of treatment and the first two years of follow-up. After that, the risk falls below that of the general population, possibly as a result of competitive cancer mortality and multidisciplinary surveillance. Hence, surgical treatment of CVD patients is important to prevent mortality in the country. Thus, such research studies provide insight into the urgent need for surgical treatment, which is expected to increase the market's growth.
Thus, the abovementioned factors, such as increased cardiovascular disease coupled with research studies, are expected to increase market growth over the forecast period.
Orthopaedic Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The orthopedic segment is expected to increase over the forecast period due to increasing road injuries coupled with product launches in the country. Increasing road accidents in the country are one of the key factors in the growth of the market, as often the injured person requires some form of surgical treatment. For instance, in July 2022, a press release by ISTAT stated that the pandemic situation and the measures for containing it continued to influence the trend of road accidents and mobility in 2021. Compared to the previous year, accidents and injuries increased substantially in March-June 2021, returning to levels very close to those of the pre-pandemic period in the second half of the year. As per the same source, in the year 2021, around 204,728 were injured (+28.6%) and 151,875 is the number of road accidents number (+28.4%), all values increased in comparison to the previous year. Thus, the increasing number of road accidents is increasing the number of hospitalizations, which is expected to increase market growth over the forecast period. Similarly, product launches are another factor in market growth. For instance, in December 2021, CMR Surgical, a global surgical robotics business, introduced the Versius Surgical Robotic System at Policlinico di Milano, a leading research hospital and care institute (IRCCS) and one of the largest healthcare facilities in Lombardy, Italy. The minimally invasive surgeries using robotic surgery reduce the post-operative hospitalization time, which is a great advantage both for the patient and for the whole healthcare system. Thus, factors such as increasing road accidents and product launches are expected to increase segmental growth during the forecast period.
Italy General Surgical Devices Industry Overview
The market studied is moderately competitive, and there are several international as well as local companies that are present in Italy and are providing general surgery solutions. The major players in the Italy general surgical devices market are Abbott Laboratories, GE Healthcare, Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens AG, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet among others.
Italy General Surgical Devices Market Leaders
Olympus Corporation
Smith & Nephew plc
GE Healthcare
Medtronic PLC
Siemens AG
*Disclaimer: Major Players sorted in no particular order
Italy General Surgical Devices Market News
- August 2022: LimaCorporate and Siemens partnered for CAD design and the preparation of 3D-printing jobs and TT lattice generation in Italy.
- March 2022: Bracco Imaging launched a new subsidiary, Blue Earth Therapeutics, to advance the development of next-generation therapeutic radiopharmaceutical technology in Italy.
Italy General Surgical Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Demand for Minimally Invasive Devices
4.2.2 Growing Cases of Injuries and Accidents
4.3 Market Restraints
4.3.1 Stringent Regulatory Framework
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Products
5.1.1 Handheld Devices
5.1.2 Laparoscopic Devices
5.1.3 Electro Surgical Devices
5.1.4 Wound Closure Devices
5.1.5 Trocars and Access Devices
5.1.6 Other Products
5.2 By Application
5.2.1 Gynecology and Urology
5.2.2 Cardiology
5.2.3 Orthopedic
5.2.4 Neurology
5.2.5 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 GE Healthcare
6.1.3 Koninklijke Philips NV
6.1.4 Medtronic PLC
6.1.5 Olympus Corporation
6.1.6 Siemens AG
6.1.7 Smith & Nephew plc
6.1.8 Stryker Corporation
6.1.9 Zimmer Biomet
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Italy General Surgical Devices Industry Segmentation
As per the scope, surgical devices serve a specific purpose during surgery. Typically, surgical devices have a generic use, while some specific tools are designed for specific procedures or surgeries. The Italy General Surgical Devices Market is Segmented by Product (Handheld Devices, Laparoscopic Devices, Electro Surgical Devices, Wound Closure Devices, Trocars and Access Devices, and Other Products), and Application (Gynecology and Urology, Cardiology, Orthopedic, Neurology, Other Applications). The report offers the values (USD million) for the above segments.
| By Products | |
| Handheld Devices | |
| Laparoscopic Devices | |
| Electro Surgical Devices | |
| Wound Closure Devices | |
| Trocars and Access Devices | |
| Other Products |
| By Application | |
| Gynecology and Urology | |
| Cardiology | |
| Orthopedic | |
| Neurology | |
| Other Applications |
Italy General Surgical Devices Market Research FAQs
What is the current Italy General Surgical Devices Market size?
The Italy General Surgical Devices Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)
Who are the key players in Italy General Surgical Devices Market?
Olympus Corporation, Smith & Nephew plc, GE Healthcare, Medtronic PLC and Siemens AG are the major companies operating in the Italy General Surgical Devices Market.
What years does this Italy General Surgical Devices Market cover?
The report covers the Italy General Surgical Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy General Surgical Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy General Surgical Devices Industry Report
Statistics for the 2024 Italy General Surgical Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy General Surgical Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
