Spain Diabetes Therapeutics Market Analysis

Spain Diabetes Therapeutics Market Executive Analysis

Spain's diabetes therapeutics market size is at around $2.77 Bn in 2022 and is projected to reach $5.41 Bn in 2030, exhibiting a CAGR of 8.7% during the forecast period. According to the Minister of Health, the Government of Spain has already raised over $481 Mn for the deployment of initiatives that are a component of the Primary and Community Care Plan 2022–23. The number of funds already authorized under the Action Plan itself, charged to the PGE and those of the regional governments and cities, totals $185 Mn. These funds are specified in the extensive regional projects put forth to better the state of primary care in their respective regions. In addition to this financing, $248 Mn through the PERTE 'Salud de Vanguardia' and $47 Mn for the new Oral Health Plan have been set aside for the digitalization of Primary Care.

Diabetes has a significant effect on public health in Spain because of its high prevalence (6.2% in people aged 30-65; 10% in people aged 30-89), as well as its acute and chronic complications and high mortality rate. Diabetes Type I prevalence ranges between 0.2-0.3%, with yearly incidence rates between 9.5 and 16 per 100,000 people under the age of 14 and 9.9 per 100,000 people between the ages of 15 and 29. The incidence is very low in children under 5 years.

While keeping glycaemic control is the cornerstone of diabetes treatment, evidence points to the importance of reducing other risk factors in lowering the chance of complications in the long run. This encompasses body weight, blood pressure, and serum lipid levels. Over 13 years of follow-up, intensive therapy was linked to a lower chance of all-cause mortality, cardiovascular events, retinopathy, neuropathy, and end-stage renal disease. The majority of well-established diabetes interventions focus on glycaemic control improvement but do little to address other risk factors or cater to the complex requirements of type 2 diabetes patients. Clinical development programs in Spain have focused on the modulation of incretin activity to address these complex clinical requirements. (gastrointestinal hormones involved in the regulation of gut motility, secretion of gastric acid and pancreatic enzymes, gall bladder contraction and nutrient absorption). Degradation-resistant glucagon-like peptide-1 (GLP-1) receptor agonists, like liraglutide and exenatide, and inhibitors of dipeptidyl peptidase-4 (DPP-4), like sitagliptin and vildagliptin, are two novel classes of anti-diabetic medications as a result.

Market Dynamics

Market Growth Drivers

Due to a sharp rise in the prevalence of the disease in recent years, diabetes is a rapidly expanding public health issue in Spain. This pattern is anticipated to persist, increasing the need for cutting-edge, efficient diabetes treatments. The introduction of diabetes screening programs and greater funding for study into the disease are just two of the initiatives the Spanish government has put into place to improve the country's diabetes care. These initiatives are anticipated to stimulate the Spain diabetes therapeutics market development by raising awareness of the condition and the range of available treatments. Spain has a highly developed healthcare system, and the country's government annually invests a sizable sum in healthcare. Growth in the market will be fueled by an increase in healthcare spending on the management and treatment of diabetes as a result of the increasing burden of the disease.

Market Restraints

Many diabetic patients in Spain might not be able to pay the cost of cutting-edge therapies due to the high cost of diabetes treatment. As a result, market expansion may be hampered and novel treatment adoption may be constrained. Spain has strict regulatory standards for diabetes therapies, and the approval procedure can be time-consuming and expensive. This may hinder the development of novel treatments and restrain the Spain diabetes therapeutics market expansion. In Spain, some people might not have access to medical centres that provide advanced diabetes treatments. This might constrain the uptake of novel treatments and market expansion.

Competitive Landscape

Key Players

• Théa Pharma (ESP)
• Farmasierra (ESP)
• Cenavisa (ESP)
• Farmalider (ESP)
• Cenfarte (ESP)
• Boehringer Ingelheim
• Eli Lilly
• GlaxoSmithKline
• Novartis
• Novo Nordisk
• Sanofi

Healthcare Policies and Regulatory Landscape

The Spanish Agency of Medicines and Medical Devices (Agencia Espanola de Medicamentos y Productos Sanitarios; AEMPS) is a regulatory and autonomous government agency that serves as the highest sanitary authority in Spain with regard to the safety of medical products like medications, healthcare items, cosmetics, and personal care items. Along with the European Medicines Agency (EMA), the organization is in charge of regulating and authorizing clinical trials, approving the commercialization of sanitary goods for human use, and planning and evaluating those products. The accreditation of clinical laboratories, the development of specific guidelines to guarantee the quality of medical products, and the inspection of all sanitary goods are under the purview of the central government. The agency has had authority over the regulation, assessment, and authorization of animal health goods since 1998. One component of the national strategy is the establishment of an action plan to combat illegal sales of pharmaceutical products via the Internet, which is recognized as one of the channels through which counterfeit medicines may reach patients in Spain. Additionally, AEMPS looks into and, when necessary, takes legal action against websites that illegitimately want to offer drugs to Spain. The battle against the illegal trade of medicines over the Internet relies heavily on international and national (police, customs) partners.