Market Size of Italy Hospital Supplies Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.50 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Italy Hospital Supplies Market Analysis
The Italy hospital supplies market is expected to register a CAGR of 5.5% over the forecast period.
COVID-19 had a huge impact on the market for hospital supplies and the entire healthcare industry in Italy. For instance, as per the article published in November 2021 under the title "Indirect Impact of COVID-19 on Hospital Care Pathways in Italy", the pandemic caused a delay in hospital visits and consultations, resulting in a lengthening of waiting lists, which calls for rescheduling even when aware of priorities. These considerations were likely to be compromised by the pandemic's direct and indirect consequences. However, with the released restrictions and resumed services, the studied market is anticipated to grow over the forecast period.
Factors such as the rapid expansion of healthcare infrastructure, the rising geriatric population, and the subsequent rise in chronic ailments are boosting market growth. For instance, according to the 2022 statistic published by UNPF, about 64% of the population in Italy was aged between 15 and 64 years old in 2022, and 24% of the population was aged 65 years and older in 2022. Also, in an article published by the Minerva Cardiology and Angiology Journal in June 2021, 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%). As the target population is more likely to develop chronic diseases such as cardiovascular diseases, cancer, and others that may require long hospital stays, this is expected to increase the demand for beds, examination devices, sterilization equipment, and disinfectant equipment. This is anticipated to augment market growth over the forecast period.
Furthermore, the increase in funding from the government body in the healthcare system boosts market growth. For instance, the 2022 Finance Act allocated an additional EUR 2 billion (USD 2.1 billion) over the course of the following three years to the National Health Fund (NHF), which is anticipated to increase from EUR 122 billion (USD 130 billion) to EUR 124 billion (USD 132 billion) in 2022, EUR 126 billion (USD 135 billion) in 2023, and EUR 128 billion (USD 137 billion) in 2024. This is expected to increase the overall national health funding in Italy, which in turn is anticipated to fuel the demand for hospital supplies, thereby bolstering the market's growth.
Moreover, continuous product launches and developments coupled with strategic activities by the major players in the market are anticipated to drive market growth. For instance, in April 2021, TytoCare, an all-in-one telehealth solution that enabled physicians to remotely connect with patients for clinic-quality physical examinations, launched in Italy through a Multimed partnership. The portable examination tool enables users to do thorough physical examinations of the heart, skin, ears, throat, and abdomen, as well as the lungs and body temperature, which are essential for monitoring COVID-19.
Therefore, owing to factors such as the rising healthcare infrastructure, the growing geriatric population, and the increasing burden of chronic diseases among the population, the studied market is expected to grow over the forecast period. However, the stringent regulatory structure is likely to impede the growth of the hospital supplies market in Italy over the forecast period.
Italy Hospital Supplies Industry Segmentation
As per the scope of the report, hospital supplies are medical or surgical items that are consumable, expendable, disposable, or non-durable and that are used for the treatment or diagnosis of a patient's specific illness, injury, or condition in hospital settings. The Italy hospital supplies market is segmented by product (patient examination devices, operating room equipment, mobility aids and transportation equipment, sterilization and disinfectant equipment, disposable hospital supplies, syringes and needles, and other products). The report offers the value (in USD million) for the above segments.
By Product | |
Patient Examination Devices | |
Operating Room Equipment | |
Mobility Aids and Transportation Equipment | |
Sterilization and Disinfectant Equipment | |
Disposable Hospital Supplies | |
Syringes and Needles | |
Other Products |
Italy Hospital Supplies Market Size Summary
The Italy medical supplies market is poised for growth, driven by several key factors. The rapid expansion of healthcare infrastructure, coupled with a rising geriatric population and an increase in chronic ailments, is significantly boosting market dynamics. The COVID-19 pandemic had a profound impact on the healthcare sector, causing delays in hospital visits and consultations, which in turn lengthened waiting lists. However, with the easing of restrictions and the resumption of services, the market is expected to recover and expand. Government funding plays a crucial role in this growth, with substantial allocations to the National Health Fund anticipated to enhance the demand for hospital supplies. Continuous product innovations and strategic initiatives by major market players further contribute to the positive outlook, as seen with the introduction of advanced telehealth solutions and portable examination tools.
The market is characterized by a moderate level of fragmentation, with both global and regional companies like General Electric Company, Invacare Corporation, and Baxter International holding significant market shares. The syringes and needles segment is expected to experience notable growth due to increased vaccination drives and healthcare funding, which are driving the demand for these supplies. Similarly, the sterilization and disinfectant equipment segment is projected to grow, fueled by the rising burden of infectious diseases and the need for enhanced sanitization in healthcare settings. Recent developments, such as the launch of advanced sterilization devices, are expected to further propel this segment. Overall, the Italy medical supplies market is set to expand, supported by demographic trends, government investments, and technological advancements.
Italy Hospital Supplies Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Incidences of Communicable and Chronic Diseases
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1.2.2 Growing Public Awareness about Hospital Acquired Infections
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1.2.3 High Demand for Hospital Supplies in Developing Countries
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Framework
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product
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2.1.1 Patient Examination Devices
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2.1.2 Operating Room Equipment
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2.1.3 Mobility Aids and Transportation Equipment
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2.1.4 Sterilization and Disinfectant Equipment
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2.1.5 Disposable Hospital Supplies
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2.1.6 Syringes and Needles
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2.1.7 Other Products
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Italy Hospital Supplies Market Size FAQs
What is the current Italy Hospital Supplies Market size?
The Italy Hospital Supplies Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Italy Hospital Supplies Market?
General Electric Company (GE Healthcare), Invacare Corporation, DE LAMA S.P.A., Althena Medical and Baxter International (Hill-Rom Services) are the major companies operating in the Italy Hospital Supplies Market.