Italy Laboratory Chemicals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Key Highlights

• The expanding healthcare industry is expected to fuel market expansion over the projection period.
• Increasing investment in the Italian diagnostic industry will likely create market growth opportunities in the forecast period.
• However, cheap substitute availability for laboratory chemicals is expected to hinder market growth in the coming years.

Italy Laboratory Chemicals Market Trends

Industrial Application to Witness Substantial Growth

• With the growing industrial sectors, the demand for laboratory chemicals increases in pharmaceuticals, healthcare, etc.
• By introducing new medications and treatments and boosting the R&D sector, industries are experiencing substantial productivity growth. Also, laboratory chemicals are extensively used in various industrial processes, ranging from bromination to numerous cryogenic reactions.
• Some of the most common laboratory chemical processes include acid chloride preparations, carboxylation, ion-exchange reactions, nitration, Suzuki coupling, and Williamson’s ether synthesis.
• Occupational and industrial safety and disaster prevention have led to increasing investments in the R&D department to formulate new chemicals that are equally sustainable and less hazardous to the environment.
• Therefore, with the growing industrial sector, laboratory chemicals in Italy are likely to occupy more than 40% of industrial applications.
• Moreover, the expanding pharmaceutical industry increases the need for laboratory chemicals. The value added of the Italy pharmaceutical industry witnessed a rising trend. For example, the value-added increased by 11.69% in 2021 compared to 2018.
• Thus, owing to the abovementioned factors, laboratory chemicals are expected to witness substantial demand from industrial applications during the forecast period.

Expanding Healthcare Sector

• 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 biologists and biochemists.
• Laboratory chemicals are also used to isolate and purify biologically active substances, like antibodies, enzymes, lectins, antigens, toxins, and viruses, among other substances.
• Most laboratory chemicals used in the healthcare and pharmaceutical industry are acidic or basic, 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 removing or recovering high molecular weight anions and fractional separation of amino acids, organic acids, peptides, metals, inorganic, and rare earth metals. They can also treat sugar solutions, enzymes, and amino acids.
• The monthly Consumer Price Index (CPI) for healthcare services and health spending increased by nearly 3% in January 2022 compared to January 2019 in Italy. Thus, fueling the demand for laboratory chemicals in the country during the forecast period.
• The country's total expenditure in the healthcare sector is increasing yearly, which is expected to increase the demand for laboratory chemicals during the forecast period.

Italy Laboratory Chemicals Market Competitor Analysis

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
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