Italy Hospital Supplies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Italy Hospital Supplies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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.

The syringes and needles segment is expected to witness growth over the forecast period owing to factors such as increased vaccination drives, product launches, and the presence of competitors in Italy. For instance, in August 2022, Italy launched a vaccination campaign against the monkeypox virus, and the first dose of the vaccine, Jynneos, was given at the Spallanzani hospital in Rome. Thus, the increasing vaccination programs are expected to increase the demand for syringes and needles, which in turn is anticipated to propel segment growth over the forecast period.

Additionally, the healthcare funding and investments by the government bodies are also expected to accelerate the production of syringes and needles for administering vaccine doses in the country, hence bolstering segment growth. For instance, in October 2021, the EC granted EUR 2 million (USD 2.1 million) following the modification of two European Regional Development Funds: one European Social Fund (ESF) and one Fund for European Aid to the Most Deprived Operational Programmes (OP) under the Recovery Assistance for Cohesion and the Territories in Europe. Of this amount, EUR 761 million (USD 815 million) will be used to purchase 68 million doses of the coronavirus vaccination in Italy. Thus, the import of a high number of vaccine doses raises the demand for syringes and needles, hence propelling the segment’s growth.

Furthermore, the rising company activities in adopting various business strategies, such as collaboration, expansion, and others, are expected to increase the production of sterile syringes and needles. This is anticipated to fuel market growth over the forecast period. For instance, in October 2021, Aenova expanded its sterile fill and finish capacity that features a completely new high-speed flexible line for vials and prefilled syringes (PFS) at its Italian site in Latina. The area provides capacity for more than 80 million vials and over 180 million prefilled syringes, targeting vaccines and biologics.

Therefore, owing to factors such as increasing vaccination drives, growing healthcare funding, and purchases of vaccine doses, as well as rising company activities, the studied segment is expected to grow over the forecast period.

The sterilization and disinfectant equipment segment is expected to register significant growth in the hospital supplies market in Italy over the forecast period owing to factors such as the rising burden of infectious diseases, increasing awareness regarding sanitization, and the growing number of surgeries that require frequent sterilization of medical devices.

For the hospitals and the patients in the hospitals, cleaning, disinfection, and sterilization play a significant role. Currently, there is a high expenditure on hospital supplies to maintain the cleanliness of equipment (such as the prevention of healthcare-associated infections) and surgical instruments, as well as staff hygiene. To avoid infections in hospital settings and home care as well, sterilization and disinfectant products are in high demand. This is anticipated to drive segment growth over the forecast period.

Moreover, recent developments by major companies are increasing the demand for sterilization and disinfectant supply products. For instance, in July 2021, Amira Srl, an Italian equipment manufacturer, launched the newest device, Bioreset Max, a lightweight, compact vapor generator that automatically adjusts hydrogen peroxide to optimal levels of efficacy for all users, especially in healthcare. Such developments are anticipated to fuel the segment's growth over the forecast period.

Therefore, owing to the aforementioned factors, the studied segment is expected to grow over the forecast period.

The Italy hospital supplies market is moderately fragmented due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Include General Electric Company (GE Healthcare), Invacare Corporation, Baxter International (Hill-rom Services), DE LAMA S.P.A., and Althena Medical among others.

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