Spain Diabetes Devices Market Report 2022 to 2030

Spain Diabetes Devices Market Analysis

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The Spain Diabetes Devices Market is expected to witness growth from $439 Mn in 2022 to $710 Mn in 2030 with a CAGR of 6.20% for the forecasted year 2022-2030. In Spain, diabetes instances have been steadily increasing in recent years. This tendency, which is anticipated to continue, will lead to an increase in the market for diabetes devices. The market is segmented by type and by the end user. Some key players in this market include Medlumics, Ekuore, Johnson & Johnson, Medtronic, Roche, Ascensia Diabetes Care and Dexcom.

ID: IN10ESMD007 CATEGORY: Medical Devices GEOGRAPHY: Spain AUTHOR: Jigyasu Bhandari

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Spain Diabetes Devices Healthcare Market Executive Analysis

The Spain Diabetes Devices Market is at around $439 Mn in 2022 and is projected to reach $710 Mn in 2030, exhibiting a CAGR of 6.20% during the forecast period. In Spain, Public healthcare costs $96.46 billion annually or $2,037.04 per inhabitant. Of those totals, prescription medication costs account for about 13.25 billion. For commercial healthcare, the sum is raised yearly by $34.72 billion (or $733.85 per resident). Spain's healthcare infrastructure consequently has an annual cost of $131.17 billion.

In adults aged 20 to 79 in Spain in 2021, the prevalence of diabetes was 8.3%, or about 3.7 million individuals. A million individuals in Spain also have diabetes but have not yet been diagnosed with it. Over the past few decades, diabetes incidence in Spain has been rising gradually. Among males, the age-standardized incidence rate of diabetes increased from 4.6 to 9.8 per 1,000 person-years between 1990 and 2019, while it increased from 3.1 to 6.9 per 1,000 person-years among women. 90% of all cases of diabetes in Spain are of type 2, making it the most prevalent form. There is also, albeit to a lesser degree, type 1 diabetes and gestational diabetes.

In Spain, people with diabetes use diabetes devices to keep optimal glucose levels and avoid complications from the disease. Tools for controlling and monitoring diabetes are included in medical devices. With the assistance of these devices, blood glucose levels can be evaluated insulin can be given, and glucose levels can be monitored over time. Blood glucose levels are constantly tracked by diabetes instruments like glucose meters. To make wise choices regarding their food, exercise routine, and medication, diabetes patients need to be aware of this information. People with diabetes receive their insulin from insulin needles and other insulin delivery systems. Diabetics can better control their blood sugar levels and lower their risk of complications with the aid of these devices. By tracking blood glucose levels and administering insulin as needed, diabetes devices help to reduce the risk of complications. Diabetes devices are more readily accessible and less expensive in Spain because the national health insurance system frequently covers them.

Spain Diabetes Devices Market Analysis

Market Dynamics

Market Growth Drivers

In Spain, diabetes instances have been steadily increasing in recent years. This tendency, which is anticipated to continue, will lead to an increase in the market for diabetes devices and related products. The development of new and improved diabetes devices is predicted to increase market demand. Producers who engage in R&D to create cutting-edge and powerful products will probably see an increase in market share. The ageing population in Spain is anticipated to boost demand for diabetes devices because older individuals are more likely to develop diabetes and require management tools. Programs have been launched by the Spanish government to improve diabetes management and reduce the cost of treating the disease. Manufacturers who can provide affordable options may benefit from these efforts. It is anticipated that demand for these products will increase as more people realize how important it is to manage their diabetes and as diabetes devices become more widely accessible. Sales may rise for producers who effectively market their products to consumers.

Market Restraints

The diabetes device industry in Spain is highly lucrative and home to a number of well-known businesses. The ability to establish a foothold in the market for new entrants in order to compete with these well-known brands may be difficult. Before it can be distributed in Spain, diabetes equipment must pass strict regulatory requirements and be classified as a medical device. Some producers may find it challenging to join the market as a result of this procedure's potential cost and time commitment.

Competitive Landscape

Key Players

Medlumics (ES)
Ekuore (ES)
Johnson & Johnson
Medtronic
Roche
Dexcom
Ascensia Diabetes Care

Healthcare Policies and Regulatory Landscape

Diabetes devices must adhere to both Spanish laws and those of the European Union (EU) in Spain because they are treated as medical devices and are subject to the EU's rules. The Spanish Agency of Medicines and Medical Devices is Spain's regulatory authority for medical devices. (AEMPS). To guarantee that medical devices in Spain comply with EU laws, the AEMPS works closely with the European Medicines Agency (EMA) and the European Commission. The National Diabetes Strategy, a complete policy framework designed to lessen the prevalence and effects of diabetes in Spain, was introduced by the Spanish government in 2006. The plan calls for a variety of actions, including screening programs, prevention initiatives, and easier access to diabetes care and treatment.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Diabetes Devices Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing Devices
Insulin delivery Devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User (Revenue, USD Billion):

The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.

Hospitals & Specialty Clinics
Self & Home Care

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.