Market Size of Italy Diagnostic Imaging Equipment 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Italy Diagnostic Imaging Equipment Market Analysis
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.
