Italy Diagnostic Imaging Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Italy Diagnostic Imaging Equipment Market is segmented By Modality (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, and Mammography), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications) and End User (Hospital, Diagnostic Centers, Others). The report offers the value (in USD million) for the above segments.

Market Snapshot

CAGR
Study Period: 2019-2027
Base Year: 2021
CAGR: 5.5 %

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Market Overview

The Italy diagnostic imaging equipment market is expected to record a CAGR of 5.5% over the forecast period.

COVID-19 had a significant impact on the Italy diagnostic imaging equipment market and the overall healthcare industry. For instance, as per the article published in 2021 under the title ‘Impact of the COVID-19 pandemic on the selection of chest imaging modalities and reporting systems: a survey of Italian radiologists’, the study revealed that the most used and preferred chest imaging modality to assess/exclude/monitor COVID-19 pneumonia during the different phases of the first COVID-19 wave was computed tomography (51.8% to 77.1% of participants). Additionally, while the narrative report was the most used reporting system (55.6% of respondents), one-third of the participants preferred to utilize structured reporting systems. Moreover, a paper published by researchers from Italy in 2021 under the title ‘The impact of COVID-19 on radiological findings in patients accessing the emergency department: a multicentric study’, stated that the total number of emergency department exams dropped from 32,06 (2019) to 939 (2020), with a relative increase of CT examinations from 23% to 33%. Hence as per the factors mentioned above, COVID-19 had a significant impact on Italy diagnostic imaging equipment market.

The major factors augmenting the growth of the diagnostic imaging market in Italy include the growing geriatric population, the rising burden of chronic diseases, and technological advancements. For instance, as per the report from International Agency for Research on Cancer, the incidence of cancer in Italy was 415 thousand in 2020 and it is expected to rise to 495 thousand by 2040. Since the high prevalence of chronic diseases leads to more diagnostic procedures the studied market is expected to grow in Italy over the forecast period. Furthermore, the ‘Italy Country Commercial Guide’ stated that, at the beginning of 2020, the Italian government anticipated improving local healthcare assistance to patients and reducing emergency room dependency, allocated EUR 235 million for the acquisition of basic diagnostics devices. Such devices for general practitioners’ use include ECG, spirometers, halters, dermo scopes, ultrasound devices (EcoFAST), as well as health IT platforms. Hence, the government initiatives and funding in the studied market in Italy boost the market growth.

As per the aforementioned factors, the Italy Diagnostic Imaging Equipment Market is likely to grow over the forecast period. However, the high cost of diagnostic imaging procedures and equipment restrains the market growth.

Scope of the report

As per the scope of the report, diagnostic imaging is used to take images of the internal structure of the human body, using electromagnetic radiation, for an accurate diagnosis of the patient. Diagnostic imaging uses radiation to diagnose and treat diseases. The Italy Diagnostic Imaging Equipment Market is segmented By Modality (MRI, Computed Tomography, Ultrasound, X-Ray, Nuclear Imaging, Fluoroscopy, and Mammography), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications) and End User (Hospital, Diagnostic Centers, Others). The report offers the value (in USD million) for the above segments.

By Modality
MRI
Computed Tomography
Ultrasound
X-Ray
Nuclear Imaging
Fluoroscopy
Mammography
By Application
Cardiology
Oncology
Neurology
Orthopedics
Gastroenterology
Gynecology
Other Applications
By End User
Hospital
Diagnostic Centers
Others

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Key Market Trends

Oncology Segment is Expected to Show Better Growth in the Forecast Years

The oncology segment is expected to witness growth over the forecast period owing to the factors such as the high prevalence of cancer cases and technological advancements in the cancer diagnostic field in Italy. Oncology deals with the diagnosis and treatment of tumors and cancers, which is one the leading causes of morbidity and mortality. According to Globocan 2020 report, among both sexes, breast, colorectum, and prostate cancers were among the most common cancers in Italy, with breast cancer alone contributing to more than 13.3% of the total new cases. The diagnostic test majorly adopted for breast cancer is the mammogram, the chance of adoption of a such diagnostic test in Italy is likely to be high. Furthermore, diagnostic imaging plays a vital role in interventional oncology with rising opportunities to diagnose and treat in a minimally invasive manner, which is expected to drive the market growth.

Furthermore, the presence of competitors, mergers, acquisitions, and collaboration in the studied area boosts the market growth. For instance, as per the 2021 report, Affidea, the largest European provider of diagnostic imaging, outpatient, and cancer care services continued to invest in the Italian market and announced the 100% acquisition of Medical Sport Center and Medical Center, two flagship medical centers in Lodi, Lombardy region, a densely populated area of 230.000 inhabitants. This transaction was the 20th in the last two years made by Affidea Group in alignment with a successful growth strategy consolidating its leadership position across 15 countries in Europe. With this acquisition, both the companies were adding new outpatient capabilities and adjacent services, synergetic with the other Affidea centers, which was likely to allow them to offer larger access for patients to best-in-class integrated services at the highest standards of quality and safety.

Hence as per the aforementioned factors, the Oncology segment is likely to face growth over the forecast period.

Italy Diagnostic Imaging Equipment Market 1

Competitive Landscape

The market studied is moderately competitive and there is a presence of international companies in Italy. For instance, Carestream Health, Esaote SpA, Fujifilm Holdings Corporation, General Electric Company (GE Healthcare), Hitachi Medical Systems, Hologic, Inc., Koninklijke Philips N.V, Siemens AG, and Toshiba Corporation are some of the major players in diagnostic equipment market which are having a presence Italy.

Recent Development

  • In March 2022, Milan-based Bracco Imaging announced the collaboration with Philochem for the purpose to develop and commercialize a small organic molecule for imaging applications, with a proven ability to selectively detect a variety of metastatic solid tumors in cancer patients, paving the way for a new approach to tumor diagnosis.
  • In June 2021, Hospital in Italy used a CT scan to discover the secrets of an Egyptian mummy. Ancient Egypt met modern medical technology when a mummy underwent a CT scan at an Italian hospital as part of a research project to discover its secrets.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Geriatric Population

      2. 4.2.2 Rising Burden of Chronic Diseases

      3. 4.2.3 Technological Advancements

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Diagnostic Imaging Procedures and Equipment

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 5.1 By Modality

      1. 5.1.1 MRI

      2. 5.1.2 Computed Tomography

      3. 5.1.3 Ultrasound

      4. 5.1.4 X-Ray

      5. 5.1.5 Nuclear Imaging

      6. 5.1.6 Fluoroscopy

      7. 5.1.7 Mammography

    2. 5.2 By Application

      1. 5.2.1 Cardiology

      2. 5.2.2 Oncology

      3. 5.2.3 Neurology

      4. 5.2.4 Orthopedics

      5. 5.2.5 Gastroenterology

      6. 5.2.6 Gynecology

      7. 5.2.7 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospital

      2. 5.3.2 Diagnostic Centers

      3. 5.3.3 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Carestream Health

      2. 6.1.2 Esaote SpA

      3. 6.1.3 Fujifilm Holdings Corporation

      4. 6.1.4 General Electric Company (GE Healthcare)

      5. 6.1.5 Gilardoni S.p.A

      6. 6.1.6 Hologic, Inc.

      7. 6.1.7 Koninklijke Philips N.V.

      8. 6.1.8 Siemens Healthineers

      9. 6.1.9 Italray SRL

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Italy Diagnostic Imaging Equipment Market market is studied from 2019 - 2027.

The Italy Diagnostic Imaging Equipment Market is growing at a CAGR of 5.5% over the next 5 years.

Fujifilm Holdings Corporation, General Electric Company (GE Healthcare), Siemens Healthineers, Koninklijke Philips N.V., Esaote SpA are the major companies operating in Italy Diagnostic Imaging Equipment Market.

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