Italy Connected Healthcare Market Analysis

Italy Connected Healthcare Market Executive Summary

Italy's connected healthcare market is projected to grow from $1.59 Bn in 2022 to $11.41 Bn by 2030, registering a CAGR of 27.9% during the forecast period of 2022-30. In 2019, Italy spent $2,906 per person on healthcare or 8.67% of its GDP. In 2019 health spending lagged substantially behind the EU average in both per capita spending and as a percentage of GDP. In 2019, the government paid for about 74% of health expenses, which is less than the average for the EU of 80%.

The market for connected healthcare refers to the use of digital technologies and connected devices to improve patient care and healthcare delivery. Pharmaceutical firms and healthcare organisations have also made progress with these technologies. During the pandemic year in Italy, 47% of specialists and 39% of family practitioners conducted teleconsultations. For instance, the ASST Grande Ospedale Metropolitano Niguarda started a televisit scheme to give patients who were bedridden follow-up exams. To lessen physical touch, some Italian hospitals also purchased inpatient remote monitoring systems or employed apps to monitor patients.

Market Dynamics

Market Growth Drivers

The Italy-connected healthcare market is expected to be driven by factors such as:

1. Rising geriatric population- Italy has one of Europe's oldest populations, with more than 22% of its residents aged 65 and more. Due to the changing demographics, there is a greater demand for telemedicine and remote health monitoring services, which can help elderly people receive better care
2. Chronic disease prevalence- Chronic conditions like cancer, diabetes, and cardiovascular disease are very common in Italy. By offering real-time monitoring, remote consultations, and individualised treatment regimens, connected healthcare devices can aid in managing these disorders
3. Technological advancements- Innovative connected healthcare solutions, including wearable technology, mobile apps, and remote monitoring tools, are being developed by an increasing number of entrepreneurs and businesses in Italy
4. Government support- The National Strategy for Digital Healthcare 2016–2018 and the Digital Agenda for Healthcare 2020 are some of the initiatives the Italian government has launched to encourage the development of digital healthcare solutions. For businesses and healthcare providers to implement linked healthcare technologies, these programs offer financing and support

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Italy:

1. Regulatory barriers- In Italy, the regulatory environment for connected healthcare is still developing, thus businesses may run into difficulties getting the necessary permissions and certifications for their goods and services
2. Infrastructure challenges- Even while internet and mobile phone usage are quite widespread in Italy, some regions still have poor connectivity, which might restrict the accessibility and efficacy of remote healthcare services
3. Privacy concerns- Concerns concerning data security and privacy are raised by the usage of connected healthcare technologies, especially in light of the General Data Protection Regulation (GDPR) and other European data protection legislation

Competitive Landscape

Key Players

• Reply (ITA)- Reply is a technology consultancy company that offers healthcare clients help with digital transformation. The business provides services in areas like cybersecurity, artificial intelligence, and cloud computing
• D-Eye (ITA)- Established in 2015 as a spin-off by Italian incubator M31 Italia Srl and technology developer Si14, Spa, the firm has developed the first modern smartphone-based digital ophthalmoscope, reintroducing the crucial 140-year-old ophthalmoscopy examination to clinical practice
• Plusimple (ITA)- The entire healthcare ecosystem is connected by Plusimple, a Plug & Play, a scalable, and secure platform, over a developing healthcare network. Plusimple enables smooth and secure interaction and communication amongst health stakeholders, including clinicians, patients, patient associations, and healthcare facilities
• Philips Healthcare- Philips is a global health technology pioneer, offering a wide range of linked healthcare products and services. The business provides services in the fields of medical imaging, telemedicine, and remote patient monitoring
• IBM- IBM is a multinational technology corporation that offers a variety of healthcare information technology solutions, such as electronic health record systems, medical imaging platforms, and population health management solutions. Moreover, the business delivers Watson Health, an AI-powered platform that offers insights into medical data
• Siemens Healthineers- Siemens Healthineers is a global leader in medical imaging, laboratory diagnostics, and healthcare information technology. The business provides a variety of connected healthcare goods and services, such as telemedicine and remote monitoring programs

Recent Events and Conferences

April 2023: e-Telemed 2023, the Fifteenth International Conference on e-health, social medicine and telemedicine is scheduled to be held in Venice, Italy from 24^th April -28^th April.

Healthcare Policies and Regulatory Landscape

With the development of connected healthcare technology during the past few years, the Italian healthcare market has been expanding quickly. The Italian Medicines Agency (AIFA), which is tasked with assessing and approving medical devices and digital health solutions, oversees the regulatory framework for linked healthcare in Italy. These solutions' quality, safety, and efficacy are evaluated by the agency, which also decides whether they qualify for marketing and funding.

In order to encourage the adoption of digital health solutions, such as telemedicine and e-prescriptions, the Italian government has put in place a number of measures. A law allowing for the financing of telemedicine services, such as remote consultations and chronic disease monitoring, was introduced by the government in 2017. The law also permits the reimbursement of electronic prescriptions, allowing patients to get their medications electronically. Also, the government has put in place a national electronic health record system (SEPS), which makes it possible for healthcare professionals to collect and share health data. The system enhances patient continuity of care and gives medical staff real-time access to patient data.

Reimbursement Scenario

Italy has a comprehensive healthcare system that offers all inhabitants access to care. To encourage the implementation of digital health solutions, such as telemedicine and e-prescriptions, the government has put in place a number of policies. The Italian healthcare system also has a well-established reimbursement strategy that includes connected healthcare technologies and covers a wide spectrum of healthcare services.

The Italian Medicines Agency (AIFA) is in charge of determining how connected healthcare solutions are reimbursed in the country. The organisation determines whether medical equipment and digital health solutions are eligible for reimbursement by assessing their quality, safety, and efficacy. The Italian government has created tax incentives and subsidies to encourage innovation and investment in the healthcare sector, in addition to the reimbursement policy for telemedicine and connected healthcare solutions.