Italy Magnetic Resonance Imaging Market Size

Italy Magnetic Resonance Imaging Market Analysis

The Italy Magnetic Resonance Imaging Market size is estimated at USD 251.66 million in 2024, and is expected to reach USD 322.11 million by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).

COVID-19 had an adverse impact on the magnetic resonance imaging market in Italy. According to a July 2020 article titled "Impact of coronavirus disease 2019 (COVID-19) emergency on Italian radiologists: a national survey," following the COVID-19, the Italian government put social isolation and containment measures into place, which ultimately resulted in a lockdown of the entire nation. Due to this circumstance, the majority of radiological departments were compelled to discontinue doing MRI and CT scans. Because of a decline in ultrasound, mammography, and MRI, most Italian radiology departments saw a considerable loss in imaging volumes, especially in private practice, where 13.3% of institutions stopped operating. In COVID-19, cardiac inflammation has a wide range of effects. According to a research study published in February 2021 titled "Researchers Investigate What COVID-19 Does to the Heart," in March 2020, doctors in Italy determined that extreme fatigue in an otherwise healthy 53-year-old woman with a positive SARS-CoV-2 test who had mild respiratory symptoms and fever a week earlier was probably caused by inflammation of the heart muscle and sac, known as myopericarditis. Cardiac MRI was used to find this condition. Therefore, there will likely be a future need for the MRI market to diagnose COVID problems. Thus, it is expected to increase the demand for the MRI market for diagnosing COVID complications in the future.

The major factors that are expected to drive the growth of the studied market of magnetic resonance imaging (MRI) in Italy are the increasing burden of chronic diseases such as cardiovascular (CVD) diseases and initiatives by market players. According to a research study titled "Cardiovascular disease burden: Italian and global perspectives," which was published in March 2021, the prevalence of cardiovascular diseases (CVDs) in Italy is nearly two times higher than the global prevalence (12.9% vs. 6.6%), while age-standardized estimates are similar (6.2% vs. 6.3%), and the impact of longer life expectancies is a major factor affecting CVD epidemiology in Italy when compared to the rest of the world. Several market players are working on strategic initiatives that are helping to drive market expansion. In January 2020, ASG Superconductors is an Italian company especially focused on developing the latest technology and market development of the MROpen EVO, the best MRI experience system based on unique superconducting technology and other innovative applications. By significantly minimising claustrophobia and providing the patient with high-quality diagnostic images in a relaxing scanning environment, MROpen EVO is incredibly patient-friendly. Thus, the abovementioned factors are expected to increase the market growth.

However, it is anticipated that the market expansion in Italy will be constrained by inadequate reimbursement and the high cost of equipment.