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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
