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Healthcare, Regulatory and Reimbursement Landscape Italy

Rising Elderly Population and Associated Disease Burden Adds to the Economic Challenges Facing the Italian Government

 
PRLog - Aug. 8, 2012 - Italy is the fourth most populous country among the European Union (EU) member states, with a population of approximately 60.6 million in 2010. Italy is preceded by Germany (with 82 million), France (65 million) and the UK (62 million). The available data for the age distribution of Italy affirms that the population in the age groups of 0 - 18 and 19 - 40 years declined from 2005 to 2010. The population in the age group of 19 - 40 years declined from approximately 30.5% to 28.1% of the total population in 2005 and 2010, respectively; this represents a decline in the population of working age. The population in the age group of 41 - 64 years increased from 31.7% to 33.6% of the total population from 2005 to 2010 respectively; this age group will further contribute to an increase in the elderly population.

The population aged 65 and above is increasing and is projected to reach approximately 14.1 million by 2020. The elderly population of Italy is expected to significantly increase, at a faster rate than the US and other European countries due to higher life expectancy, better health care facilities and strong financial support for the elderly population by the Italian government.

The pharmaceutical market in Italy was approximately $25.4 billion in 2010 and is projected to reach approximately $29.3 billion in 2020 with a Compound Annual Growth Rate (CAGR) of 1.5%. Italy is one of the most potential healthcare market among the European Union member states. Moreover, Italian government provides tax credits to the companies that spend on Research and Development (R&D). The Italian Medicine Agency (Agenzia Italiana Del Farmaco-AIFA) also provides funds for R&D to pharmaceutical companies for R&D.

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The size of the medical device market was approximately $11.3 billion in 2010. in 2006, Italy was ranked third in Europe and sixth in the world, in terms of the size of the medical device market. The market is projected to reach approximately $18.7 billion by 2020, with a projected CAGR of 5.2%. The in vitro diagnostics (15.4%), cardiovascular devices (15.2%) and ophthalmic devices (9.3%) were the major segments in the medical devices market in 2010. The key challenges being faced by the medical device industry in Italy include long duration of payment terms (ranging from 100 to 500 days) by hospitals and low expenditure on research and development by the domestic sector.

With a rapidly increasing elderly population and awareness toward chronic diseases, the medical care and diagnostic markets in Italy are expected to grow significantly in the future. To prevent age-related diseases, new areas such as preventive medicine and nursing care services are gaining significant importance in Italy. Analysis of the R&D projects of the biotech companies in the healthcare domain in Italy suggests that approximately 233 products are in various phases of development.

Global Markets Direct, the industry analysis specialist, has released its new report, “Healthcare, Regulatory and Reimbursement Landscape-Italy”. The report is an essential source of information and an analysis on the healthcare, regulatory and reimbursement landscape of Italy. The report identifies the key trends in the healthcare market of Italy. The report also provides insights on the demographic, regulatory, reimbursement landscape and healthcare infrastructure of Italy. Most importantly, the report provides valuable insights on the trends and segmentation of pharmaceutical and medical devices market.

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