Italy Ultrasound Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 300.72 Million |
| Market Size (2029) | USD 380.35 Million |
| CAGR (2024 - 2029) | 4.78 % |
| Market Concentration | Medium |
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 Ultrasound Devices Market Analysis
The Italy Ultrasound Devices Market size is estimated at USD 300.72 million in 2024, and is expected to reach USD 380.35 million by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
- COVID-19 had a significant impact on the ultrasound device market in Italy, as ultrasound usage for COVID-19 diagnosis increased during the pandemic. For instance, according to a study published in October 2021 in Internal and Emergency Medicine, during the SARS-CoV-2 pandemic, point-of-care ultrasonography was used to rapidly detect interstitial lung involvement in patients with signs of COVID-19 infection. Thus, COVID-19 affected the market for ultrasound devices in Italy.
- However, currently, the market is growing at a stable pace owing to a resumption of imaging diagnosis procedures, manufacturing activities, and the availability of products, and it is expected to witness a similar trend over the coming years.
- The increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, and other chronic diseases, along with technological advancements in ultrasound devices, is expected to grow the ultrasound market in Italy during the study period. Thoracic ultrasound detects peripheral lesions in patients with pulmonary tuberculosis, such as consolidations and tiny subpleural consolidations, and thus, the number of tuberculosis patients is predicted to rise, driving the market growth.
- For instance, according to the World Health Organization (WHO) report published in 2022, in 2021, Italy had 2,900 people infected with tuberculosis. Furthermore, in 2021, the incidence of HIV-positive TB was 150 per 100,000 people, and multidrug-resistant tuberculosis/rifampicin-resistant tuberculosis (MDR/RR-TB) was 85 per 100,000 people. Thus, the huge burden of tuberculosis in the country is expected to increase demand for effective diagnosis, thereby boosting the market growth.
- Some of the key market players that manufacture ultrasonic equipment are present in Italy. These firms are constantly expanding and releasing new products, among other things, which will aid the country's market growth over time. For instance, in September 2021, Esaote, an Italian company, introduced E-Shop, a new online store designed to more efficiently and effectively connect with medical professionals.
- Additionally, in May 2021, Esaote launched the MyLab X9 ultrasound machine in Italy. MyLab X9 offers superior image quality and data processing capabilities while utilizing the most recent technological advancements to investigate the newest areas of ultrasound imaging. The introduction of technologically advanced products makes them accessible to the end user, which is likely to boost market growth.
- Thus, the abovementioned factors, such as the growing burden of chronic diseases and strategic activities by the market players, are expected to increase market growth. However, stringent regulation may restrain the market over the forecast period.
Italy Ultrasound Devices Market Trends
2D Ultrasound Imaging Segment is Expected to Hold a Significant Market Over the Forecast Period
- 2D ultrasounds are flat, black-and-white moving images of the inside of the body. The ultrasound transducer delivers sound waves through the body and back to create a basic image of the organs. The presence of market players that offer 2D ultrasound in the country, along with the rising adoption of ultrasound systems and advancements in 2D ultrasound systems, are the factors that are expected to drive the growth of 2D ultrasound systems in this country.
- 2D ultrasound is effective for diagnosing chronic diseases such as cancer, and the rising number of cancer cases is expected to boost segment growth. Furthermore, according to the Number of Cancers in Italy Report 2022, there were 390,700 new cancer diagnoses (205,000 in males and 185,700 in females) in 2022 in Italy. Thus, the high burden of cancer is expected to increase demand for ultrasound diagnosis, boosting the segment's growth.
- Further, the presence of market players that offer 2D ultrasound in the country will likely increase the accessibility of these devices, thereby boosting the segment's growth. For example, Esaote, Canon, and Siemens are some of the key players that offer 2D ultrasound devices nationwide.
- Hence, due to the above factors, such as the growing burden of cancer and the presence of market players, it is expected to drive market growth in this region.
Musculoskeletal Segment is Expected to Hold Significant Share Over the Forecast Period
- Musculoskeletal conditions are characterized by pain and limitations in mobility, dexterity, and overall level of functioning, reducing people's ability to work. Also, as per the World Health Organization (WHO), musculoskeletal conditions comprise more than 150 conditions and include conditions that affect joints, such as osteoarthritis, rheumatoid arthritis, psoriatic arthritis, gout, and ankylosing spondylitis, among others.
- Ultrasound systems are used to generate detailed pictures of joints, soft tissues, and bones, which help in the detection, diagnosis, and monitoring of musculoskeletal disorders. With the rising burden of musculoskeletal disorders in the country, the musculoskeletal segment in the studied market is expected to grow.
- According to the study published by the Annals of Rheumatic Diseases in February 2023, the prevalence of rheumatoid arthritis (RA) in Italy is 0.57%, which is consistent with data from other European nations. Females were shown to have a higher incidence, especially among younger patients. Moreover, musculoskeletal conditions are prevalent in the geriatric population, and the growing burden of the elderly population in the country is expected to boost the segment over the forecast period.
- For instance, according to the 2022 statistics published by the United Nations Population Fund, in Italy, 64% were aged 15-64 years in 2022, and 24% were 65 years and older in 2022. Thus, the expected increase in the geriatric population makes them more susceptible to developing musculoskeletal diseases, thereby boosting segment growth.
- Regional market players are focusing on adopting various growth strategies, such as new product launches, innovations in existing products, and mergers and acquisitions, to introduce more efficient medical diagnostic devices and strengthen their market presence.
- For instance, in July 2021, Affidea, one of the leading European providers of diagnostic imaging, outpatient, and cancer care services, acquired Centro Diagnostico Lodigiano (CRL), one of the well-known diagnostic imaging medical providers in Lodi, Lombardy region, Italy. The collaboration increases the usage of ultrasound in the country due to the expanded services and is expected to contribute to the market segment's growth.
- Thus, the growing burden of musculoskeletal diseases, the geriatric population, and strategic activities by market players are expected to boost segment growth over the forecast period.
Italy Ultrasound Devices Industry Overview
Italy's ultrasound devices market is moderately competitive and consists of several major players. The strategic initiatives taken by the market players such as collaboration and the launch of new products in the country are also propelling the growth of the market. Some of the companies that are currently dominating the market are Canon Medical Systems Corporation, GE Healthcare, Fujifilm Holdings Corporation, Siemens Healthineers AG, and Koninklijke Philips NV, among others.
Italy Ultrasound Devices Market Leaders
Canon Medical Systems Corporation
Fujifilm Holdings Corporation
GE Healthcare
Koninklijke Philips NV
Siemens Healthineers AG
*Disclaimer: Major Players sorted in no particular order
Italy Ultrasound Devices Market News
- January 2024: Esaote, one of the leading Italian companies in medical imaging participated in Arab Health and launched two new ultrasound systems namely MyLabA50 and MyLab A7.
- November 2023: Italian medical facility Vein Clinic Brescia launched Imabot X technology developed by MGI tech which will enable to perform complex diagnostic ultrasound scans remotely.
Italy Ultrasound Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Regulations
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Application
5.1.1 Anesthesiology
5.1.2 Cardiology
5.1.3 Gynecology/Obstetrics
5.1.4 Musculoskeletal
5.1.5 Radiology
5.1.6 Critical Care
5.1.7 Other Applications
5.2 By Technology
5.2.1 2D Ultrasound Imaging
5.2.2 3D and 4D Ultrasound Imaging
5.2.3 Doppler Imaging
5.2.4 High-intensity Focused Ultrasound
5.3 By Type
5.3.1 Stationary Ultrasound
5.3.2 Portable Ultrasound
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 SonoScape Medical Corp
6.1.3 Fujifilm Holdings Corporation
6.1.4 GE Healthcare
6.1.5 Hologic Inc.
6.1.6 Koninklijke Philips NV
6.1.7 Mindray Medical International Limited
6.1.8 Samsung Electronics Co. Ltd
6.1.9 Esaote SpA
6.1.10 Siemens Healthineers AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Italy Ultrasound Devices Industry Segmentation
A diagnostic ultrasound, also known as sonography, is an imaging technique that uses high-frequency sound waves to produce images of the different structures inside the body. They are being utilized for the assessment of various conditions in the kidney, liver, and other abdominal conditions. They are also widely used to treat chronic illnesses, which include ailments including diabetes, asthma, cancer, and heart disease. As a result, these devices have a variety of uses in the medical area, including both diagnostic imaging and therapeutic modality.
Italy's ultrasound devices market is segmented by application, technology and Type. By application, the market is segmented into anesthesiology, cardiology, gynecology/obstetrics, musculoskeletal, radiology, critical care, and other applications. By technology, market is segmented into 2D ultrasound imaging, 3D and 4D ultrasound imaging, doppler imaging, and high-intensity focused ultrasound. By type, market is segmented into stationary ultrasound and portable ultrasound.
The report offers the value (in USD) for the above segments.
| By Application | |
| Anesthesiology | |
| Cardiology | |
| Gynecology/Obstetrics | |
| Musculoskeletal | |
| Radiology | |
| Critical Care | |
| Other Applications |
| By Technology | |
| 2D Ultrasound Imaging | |
| 3D and 4D Ultrasound Imaging | |
| Doppler Imaging | |
| High-intensity Focused Ultrasound |
| By Type | |
| Stationary Ultrasound | |
| Portable Ultrasound |
Italy Ultrasound Devices Market Research FAQs
How big is the Italy Ultrasound Devices Market?
The Italy Ultrasound Devices Market size is expected to reach USD 300.72 million in 2024 and grow at a CAGR of 4.78% to reach USD 380.35 million by 2029.
What is the current Italy Ultrasound Devices Market size?
In 2024, the Italy Ultrasound Devices Market size is expected to reach USD 300.72 million.
Who are the key players in Italy Ultrasound Devices Market?
Canon Medical Systems Corporation, Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips NV and Siemens Healthineers AG are the major companies operating in the Italy Ultrasound Devices Market.
What years does this Italy Ultrasound Devices Market cover, and what was the market size in 2023?
In 2023, the Italy Ultrasound Devices Market size was estimated at USD 286.35 million. The report covers the Italy Ultrasound Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Italy Ultrasound Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Italy Ultrasound Devices Industry Report
Statistics for the 2024 Italy Ultrasound Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Italy Ultrasound Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
