Spain Cardiovascular Diseases Therapeutics Market Analysis

Spain Cardiovascular Disease Therapeutics Market Executive Analysis

Spain's cardiovascular disease therapeutics market size is at around $3.13 Bn in 2022 and is projected to reach $5.08 Bn in 2030, exhibiting a CAGR of 6.22% during the forecast period. The budget allotted to the Ministry of Health in 2023 will rise by 6.5%, totaling $3,320 Mn, in the setting of a decentralized healthcare system where spending by the Spanish Ministry of Health accounts for less than 3% of total government spending. The allocation of money from both the national public budget for 2023 and the European Recovery and Resilience Facility are included in this sum. Notably, $3.42 Mn and $4.49 Mn are allotted to the newly established nationwide Public Health Agency and the nationwide network for public health surveillance, respectively. The coordinated purchase of the COVID-19 vaccine is also allocated $1,408 Mn. Finally, the Ministry of Health has budgeted more than $1,284 Mn to improve primary care facilities and tools for specialized care, screening programs, and mental healthcare. This money has been specifically designated for the development of primary care. The autonomous towns will receive this funding.

Adults from lower socioeconomic classes in Spain have a significant prevalence of cardiovascular disease (CVD) risk factors. Although immigrants are a socioeconomically disadvantaged group, little is known about how these factors are distributed among them. The latest WHO statistics show that 51,684 deaths from coronary heart disease, or 15.64% of all deaths, occurred in Spain in 2020. Spain places #179 in the world with a 34.87 per 100,000 population age-adjusted death rate.

Therapeutic lifestyle changes, such as increased physical exercise, dietary modification/weight loss, and quitting smoking are of proven benefit and better outcomes starting within a matter of weeks for all of these high-risk patients. Statins and aspirin are two additional adjunctive drug treatments with a history of success; their advantages are at the very least additive.

The first-line medications currently used in Spain to manage CVD include:

• ACEIs
• ARBs
• Anticoagulants
• Statins to lower cholesterol
• Beta-blockers, and some anti-inflammatory drugs (NSAID, glucocorticoids)

Although many treatments are being researched in Spain to improve pathological cardiovascular complications, there haven't been many new drugs authorized for use as interventions or treatments. New methods of treating CVD are thus urgently required. The research and development of peptides and their mimics for therapeutic intervention have lately experienced a resurgence. As a result, using peptides that imitate the action of mediators involved in pathologic processes during vascular damage has drawn more attention.

Market Dynamics

Market Growth Drivers

The general public in Spain is becoming increasingly mindful of the risk factors for cardiovascular diseases. The Spain cardiovascular disease therapeutics market is expanding as a result of more people pursuing early diagnosis and treatment. New and inventive treatments for cardiovascular illnesses are being developed as a result of technological advancements. Patients now have access to more potent therapies, which is fuelling the market's expansion. A larger investment is being made in the research and commercialization of novel therapeutics for cardiovascular diseases as a result of rising healthcare spending overall in Spain. The Spain cardiovascular disease therapeutics market is anticipated to grow as a result in the upcoming years.

Market Restraints

It can be challenging for new drugs and treatments to get authorized in Spain due to the strict regulatory requirements for cardiovascular disease therapeutics. Due to this, the Spain cardiovascular disease therapeutics market may grow more slowly as novel therapeutics are developed. Spain has a limited healthcare infrastructure in some areas, which can make it difficult for patients to obtain healthcare services and treatments. This may restrict the use of therapeutics for cardiovascular illness in these areas, which would restrict market expansion.

Competitive Landscape

Key Players

• QbD Pharmaceuticals (ESP)
• Tillotts Pharma (ESP)
• Dunlin Pharm (ESP)
• Pharmagenus (ESP)
• Ferrer (ESP)
• Janssen Pharmaceuticals
• AstraZeneca
• Sanofi
• Novartis AG
• Merck
• Gilead Sciences

Healthcare Policies and Regulatory Landscape

The state healthcare system in Spain offers full coverage to all citizens and permitted immigrants. Healthcare services and treatments, such as those for cardiovascular illness, are provided by the National Health System (Sistema Nacional de Salud, or SNS). Regarding payment guidelines for therapies for cardiovascular disease, the SNS typically covers medicines and procedures that are thought to be secure and efficient. The SNS-covered medications are listed in the Spanish Agency for Medicines and Medical Devices (AEMPS) formulary, upon which the reimbursement policy is founded. The severity of the illness and the patient's clinical state is taken into account when determining the reimbursement policy for cardiovascular disease treatments in Spain. Treatments for milder cases might not be covered by the SNS, but treatments for more serious and acute cases are typically covered. For some treatments, including some for cardiovascular illness, patients in Spain must make a co-payment. The cost of the co-payment is determined by the type of therapy and patient income.