Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- The "Italy In-Vitro Diagnostics Market Forecast Report by Test Types, Products, Technology, Application, End User, and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Italy In-Vitro Diagnostics Market was valued at US$ 2.61 Billion in 2023, and will grow to US$ 4.67 Billion by 2032, with a CAGR of 6.68% from 2024 to 2032
Growth is also anticipated to be fueled by the nation's growing chronic disease prevalence and the significant investments made in R&D by industry leaders to create cutting-edge technologies for investigating novel approaches to disease detection. Italy is predicted to see a rise in the prevalence of a number of diseases, including cancer, autoimmune disorders, myocardial infarctions, arrhythmias, and inflammatory ailments, which will drive up demand for IVD testing. 
The increasing occurrence of chronic illnesses is a major driver propelling the market's expansion. The need for early diagnosis utilizing IVD devices is rising due to the number of patients with various infectious and chronic diseases. As a result, more people are using in-vitro diagnostics for a variety of ailments.
For example, a December 2022 report published by Nova Agency indicated that 390,700 new cases of cancer were expected in Italy year 2022. In a similar vein, the International Diabetes Federation (IDF) estimates that 4.47 million Italians suffered from diabetes in 2021 and that number is expected to rise to 4.59 million by 2045. As a result, the high prevalence of disease among Italians is fueling the nation's adoption of in-vitro diagnostic instruments and raising the demand for early disease diagnosis.
Growth in the In-Vitro Diagnostics Market is Driven by Increasing Healthcare Spending in Italy
The in-vitro diagnostics business in Italy is expanding thanks in large part to the notable rise in healthcare spending. Italy has made large investments in healthcare, amounting to USD 4291 per capita and accounting for 9.0% of its GDP, as per an OECD assessment. This indicates a strong commitment to improving healthcare infrastructure and services. This large donation encourages advancements in patient care delivery by enabling healthcare providers to use cutting-edge diagnostic tools and creative solutions.
Information and Communications Technology (ICT) Integration in Healthcare Fuels Market Expansion
The growing in-vitro diagnostics business in Italy is mostly being driven by the integration of Information and Communications Technology (ICT) in healthcare. With a 7% rise from 2021 to 2022, Italy spent USD 1.98 billion on ICT for healthcare. Healthcare diagnostic processes can be made more accurate and efficient by leveraging digital tools like data analytics, telemedicine platforms, and electronic health records.
ICT facilitates easy communication between labs, medical professionals, and patients, allowing for the early diagnosis of illnesses and the modification of treatment plans as necessary. ICT developments also make it possible to remotely monitor patients' health problems, which allows for quick intervention and the application of preventive healthcare measures.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $2.61 Billion |
| Forecasted Market Value (USD) by 2032 | $4.67 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Italy |
Company Analysis:
- Roche Diagnostics
- Abbott Diagnostics
- Siemens Healthineers
- Danaher Corporation
- Thermo Fisher Scientific
- Sysmex Corporation
Test Types - Market breakup in 11 viewpoints:
- ELISA & CLIA
- PCR
- Rapid Test
- Fluorescence Immunoassays (FIA)
- In Situ Hybridization
- Transcription Mediated Amplification
- Sequencing
- Colorimetric Immunoassay
- Radioimmunoassay (RIA)
- Isothermal Nucleic Acid Amplification Technology
- Others
Products - Market breakup in 3 viewpoints:
- Services
- Instruments
- Reagents
Technology - Market breakup in 7 viewpoints:
- Immunoassay
- Clinical Chemistry
- Molecular Diagnostics/Genetics
- Hematology
- Microbiology
- Coagulation
- Others
Application - Market breakup in 8 viewpoints:
- Infectious Disease
- Diabetes
- Cardiology
- Oncology
- Nephrology
- Autoimmune Diseases
- Drug Testing
- Other Applications
End User - Market breakup in 4 viewpoints:
- Hospitals
- Laboratories
- Home - Care
- Others
For more information about this report visit https://www.researchandmarkets.com/r/oc0o0q
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