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The Medical Device Market: Italy
Espicom Business Intelligence Ltd, Oct 2011, Pages: 98
The Italian medical device market is the third largest in Europe. Consumption of medical equipment and supplies is valued at US$8.2 billion in 2011, equal to US$131 per capita. Market growth is low with Italy expected to be one of the slower growing medical markets in Europe over the next five years.
The provision of healthcare in Italy, in common with other western European countries, is advanced, with universal access. Being initially based on the NHS-model of the UK, the Italian health service is also facing similar scenarios, most notably efforts to restrain rising costs.
A package of austerity measures launched in response to the recent economic downturn proposes to cut regional funding by 3.8 billion euros between 2011 and 2013, which will increase financial pressures in the healthcare sector.
The Ministry of Health has embarked on a programme of large-scale investment in the health service. Investment is being linked to certain standards within healthcare provision; in particular is the new focus on preventative care. With the increased levels of investment it is also hoped that there will be parity in provision throughout the regions and that by linking investment to certain standards, disparity will be removed.
The re-establishment in December 2009 of a dedicated Ministry of Health is an indication of the higher priority being given to healthcare in the wake of the swine flu epidemic and the ongoing financial problems in several regional health services. Recent ministerial initiatives have included a law on palliative care and a new plan to tackle the persistent problem of long waiting lists for treatment in many areas.
Long payment delays have long been a feature of supplying to the public hospital market. However, in recent months there have been signs of improvement as a result of efforts to implement healthcare deficit recovery plans in the worst offending regions.
Italy has a sizeable medical manufacturing industry with a turnover in the region of 4 billion euros. Despite a strong industrial presence in certain sectors, the overall medical device market remains reliant on imported goods, the value of which was US$6.2 billion in 2009.
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