The Italy cardiovascular devices market size is anticipated to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to value-based healthcare and rising awareness among individual to track and manage own health.
According to the World Health Organization (WHO), 17.9million people died from cardiovascular disease (CVD) in 2016, accounting for 31% of all victims worldwide. Heart attacks and strokes account for 85 percent of these fatalities.
In Italy lifespan is linked to diet where unhealthy life style such as smoking, high BMI, alcohol consumption, and a lack of physical exercise contribute to the population's illness.
Italy’s growing elderly population has resulted into increasing number of patients diagnosed with cardiovascular problems.
According to the Italian institute of statistics (ISTAT), heart surgery costs around USD 650 million per year, or around 1% of overall hospital spending. The most important component of the budget for all medications is drugs, used to treat cardio vascular diseases (CVD) which account for more than USD 5 billion.
To make treatments affordable the public healthcare system of Italy is anticipated to establish value and quality-based pricing models, as well as trying to seek data and analytics for cost-effectiveness treatments. This leads to decreasing demand for traditional items and becoming an opportunity for firms with highly innovative products at low cost.
In Italy medical device firms are providing services and solutions as add-ons to their products which are ascending the retail demand of the product in the market. Moreover, innovative products that improve patient care or provide cost-effective outcomes are in high demand.
The report on Italy cardiovascular devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Cardiovascular Devices Market - Italy Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Device Types (Therapeutic & Surgical Devices and Diagnostic & Monitoring Devices) |
Country Scope |
Italy |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
GE Healthcare; Boston Scientific Corporation; Abbott Laboratories; Medtronic; and Biotronik |
Based on device types, Italy cardiovascular devices market is bifurcated into therapeutic & surgical devices and diagnostic & monitoring devices. The diagnostic & monitoring devices segment is expected to represent a key share of the market due to rising demand for in vitro testing devices and development of chip or web based cardiac monitoring devices. However therapeutic & surgical devices segment is anticipated to expand at a rapid pace during the forecast period owing to rising incidence of cardiovascular disorders.
Key players competing in the Italy cardiovascular devices market include GE Healthcare; Boston Scientific Corporation; Abbott Laboratories; Medtronic; and Biotronik.
The cardiovascular devices market in Italy is somewhat competitive, with numerous local producers competing against multinational firms. Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
Key players competing in the Italy cardiovascular devices market include GE Healthcare; Boston Scientific Corporation; Abbott Laboratories; Medtronic; and Biotronik.
The cardiovascular devices market in Italy is somewhat competitive, with numerous local producers competing against multinational firms. Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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