Primo Capital Launches New Edition of Primo Insights Dedicated to Trends in the Healthcare Sector

09 giu 2025

Milan, Italy - June 9, 2025 - Primo Capital is pleased to announce the launch of the second edition of Primo Insights, a report designed to provide investors and stakeholders with analysis and data on technology trends and market opportunities in a number of key sectors (healthcare, climate, space economy, digital) that are contributing to our country's economic growth.

This new edition-"Healthcare: Market and Investment Outlook"-presents the key macroeconomic, technological and financial forces that are profoundly transforming the healthcare sector. Against a backdrop marked by changing demographics, the rise of chronic diseases and a growing demand for more efficient services, the report explores the crucial role of innovation and private capital in supporting the healthcare industry and its role in society.

"Primo Insights is more than a publication-it is a lens through which to view the evolution of markets that we believe will define the next decade of investing. Our goal is to constantly monitor and analyze emerging trends in high-potential sectors such as healthcare, digital, climate tech and the space economy, providing actionable insights to help our investors anticipate and seize transformative opportunities" commented Antonio Concolino, CEO of Primo Capital.

As an active investor in strategic sectors for national competitiveness, Primo Capital is committed to contributing substantially to Italy's long-term economic growth - fostering innovation, strengthening industrial ecosystems and supporting the internationalization of strategic small and medium-sized enterprises. Healthcare, because of its social role and economic significance, is therefore a priority for Primo Capital - not only as an investor, but as a long-term partner in the country's development.

The report: numbers, trends and scenarios for the future of Healthcare

Here are the main insights that emerged:
1. Solid and steady global growth: Expected global healthcare spending will grow at an average of +5.9% annually through 2033, confirming the sector as an engine of innovation and a magnet for investors. In Q1 2025 alone, Healthcare returned +6.1%, outperforming the S&P 500 average despite the uncertain macroeconomic environment.
2. Italy: a system with high potential: In 2023, Italy invested more than 176 billion euros in healthcare, positioning itself as a European hub for manufacturing, research and medical technologies. But the system still suffers from organizational inefficiencies and wide regional gaps.
3. New challenges and transformative trends: With a projected deficit of 18 million health workers by 2030 and rising costs, the global health system is at a turning point. In this context, technological innovation and private capital emerge as crucial levers to ensure accessibility, efficiency, and sustainability.
4. AI-from diagnosis to assisted surgery: Artificial intelligence accelerates research, improves diagnosis, and optimizes patient management. Personalized medicine and robotic surgery are already a reality, but the future of AI in healthcare will depend on clear rules on ethics and safety.
5. ESG-health, impact, and long-term value: Investments in health care are increasingly geared toward ESG criteria, with a focus on inclusion, environmental sustainability, and transparent governance. The sector generates social impact, improves access to care, and simultaneously creates lasting value for stakeholders and communities.
6. Macroeconomic risks and industry resilience: The healthcare industry demonstrates resilience in the face of macroeconomic pressures such as tariffs, currency volatility, and regulatory entity cuts. The industry therefore relies on operational efficiency, innovation, and internationalization to ensure competitiveness and business continuity despite the highly volatile macroeconomic environment.
7. Private Equity Healthcare: driving consolidation and innovation: Private equity in Healthcare continues to perform above average compared to generalist funds (27% IRR vs 21% IRR of generalist funds).

Primo Health: investing in the future of the Healthcare sector

This edition of Primo Insights follows the first closing of Primo Health, Primo Capital's new private equity fund entirely dedicated to the healthcare sector. The fund aims to support the transformation and international growth of Italian SMEs active in the healthcare sector-from medical devices to pharmaceuticals, private health services and veterinary.

“With Primo Health we are seizing a concrete opportunity to generate not only solid financial returns, but also a measurable impact - improving people's lives, creating skilled employment and contributing to the long-term sustainability of our healthcare systems.” Andrea Pavero, General Partner of Primo Health and Advisor to Primo Capital, concludes.

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