Italy Laboratory Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Italy Laboratory Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Italian market for laboratory chemicals is expected to register a CAGR of 2.7% during the forecast period (2019-2024). The major factors driving the market studied are increasing elderly population, which is triggering the healthcare industry, and growing reuse of wastewater in the country. Some factors, like low public investments in the education sector of the country, are expected to hinder the growth of the market studied.

Key Highlights

• The healthcare industry is expanding widely in the Italian market, and hence, supports the growth of laboratory chemicals in India, due to their widespread utility in various applications
• Increasing demand for laboratory chemicals is likely to act as an opportunity in the future.
• Factors, such as the growth of the industrial sector, growing elderly population, and increasing water reuse, are expected to drive the demand for laboratory chemicals during the forecast period.

Key Market TrendsIncreasing Elderly Population in the Country

• Currently, Italy is facing an issue of decreasing aging population. It is the second-oldest country in the world after Japan, with an estimated 168.7 elderly people per 100 young people.
• At present, about 23% of the total population in Italy is aged between 65 years and older. For the ninth consecutive year, the birth rate in the country has decreased to an average of 1.27 children per family. In 2017, around 464,000 births were recorded, which was 2% less than the previous year.
• During 2017, the number of deaths in the country was around 647,000, which was 5.1% more than in 2016. In relative terms, 10.7 individuals died per every thousand number of inhabitants in 2017, as compared to 10.1 in 2016.
• Italy is one of the first countries to introduce “memory clinics”, which are specifically dedicated to the diagnosis and management of Alzheimer’s and other dementias. Currently, more than 2,000 healthcare staff is working in these units, which includes social workers, nurses, and neurologists playing a central role in the network of healthcare services dedicated to the illnesses, like dementia.
• The ongoing growth in the nation’s elderly population has been contributing to uplifting the number of diagnostic tests conducted in the healthcare sector.
• This growth in laboratory tests has been driving the consumption of laboratory chemicals in the country, which is expected to continue in the coming years, thus continuing to drive the market for laboratory chemicals during the forecast period.

Segmentation - By Healthcare

• Italy ranked third in terms of sales of new medicine, during 2012-2017, after Germany and France, and followed by Spain and the United Kingdom
• Laboratory chemicals are extensively used in the healthcare and pharmaceutical industry. Their application ranges from gel filtration to affinity chromatography. Molecular sieving or size exclusion chromatography is becoming highly indispensable to molecular biologist and biochemists.
• Researchers and scientists in Italy are engaged in the separation of macromolecules from smaller molecules for characterizing macromolecules, and determining the molecular weights and molar masses, for the pathological screening of body fluids and structure determination studies.
• Laboratory chemicals are also used in the isolation and purification of biologically active substances, like antibodies, enzymes, lectins, antigens, toxins, and viruses, among other substances.
• Most of the laboratory chemicals that are used in the healthcare and pharmaceutical industry are acidic or basic in nature, consisting of different polymers and copolymers. These are excellent for cross-linking, and are applied for water softening, conditioning, and de-ionionisation. Other applications include removal or recovery of high molecular weight anions and fractional separation of amino acids, organic acids, peptides, metals, inorganic, and rare earth metals. They can also be used for the treatment of sugar solutions, enzymes, and amino acids.
• According to Fondazione GIMBE, for a country that spends less on the healthcare sector than many other Western European countries, Italy recorded only 19% for inefficient or wasteful public healthcare spending.
• The total expenditure of the country in the healthcare sector is increasing on yearly basis, which is expected to increase the demand for laboratory chemicals during the forecast period.

Competitive Landscape

The Italian laboratory chemicals market is highly fragmented, with top three players accounting for more than 65% of the market share (in terms of revenue). The major companies include Merck KGaA, Carlo Erba Reagents SRL, and VWR International SRL.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

BD BioScience
BioMerieux SA
BiosYnth SRL
Carlo Erba Reagents SRL
Exacta+Optech Labcenter SpA
Fujifilm Wako Chemicals
GE Healthcare
Merck KGaA
Nova Chimica SRL
Sigma
Aldrich SRL (Acquired by Merck)
Thermo Fisher Scientific Inc.
VWR International SRL

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