Market Size of Italy General Surgical Devices Industry
| 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 |
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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.
