Market Size of Spain Diabetes Drugs and Devices Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 7.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spain Diabetes Drugs and Devices Market Analysis
Spain's diabetes drugs and devices market is estimated at USD 0.7 billion in the current year. The market is expected to reach USD 1.1 billion in five years, registering a CAGR of more than 7.01% during the forecast period.
According to WHO, Spain has administered 102,258,825 vaccine doses as of 25 June 2022. Baseline hyperglycemia significantly predicts all-cause mortality in non-severe COVID-19 patients, regardless of diabetes history. On October 25, the government declared a state of emergency after clinical trials resumed after about four months of easing certain restrictions. This included partial lockdown measures with movement restrictions until May 9, 2021. The COVID-19 pandemic in Spain has forced the government to introduce new laws and restrictions to stop the spread of the virus. Lockdowns have proven to be an effective approach to reducing the risk of infection. For the above reasons, the expansion of the examination market in Spain is predicted.
Insulin drugs are important in treating type 1 diabetes (T1D). Examples of such drugs are insulin drugs. These devices are associated with improved glycemic control and reduced hypoglycemia. In pharmaceuticals, the insulin category holds a significant market share. Worldwide, he has over 100 million people using insulin, including all type 1 diabetics and 10-25% of type 2 diabetics. Insulin production is very demanding, and only a few insulin manufacturers are on the market. Therefore, there is fierce competition among these manufacturers, who constantly strive to meet their patients' needs by providing the highest quality insulin. Medical devices (T1D) are one of the key components in the treatment of type 1 diabetes. Devices include insulin pumps, continuous glucose monitors (CGM), and blood glucose meters. These devices lead to better blood sugar control and less hypoglycemia.
Thus, the above factors are expected to drive market growth over the forecast period.
Spain Diabetes Drugs and Devices Industry Segmentation
A few of individuals with type 1 and type 2 diabetes can benefit from using a CGM. Those who would benefit the most are individuals that have trouble reaching and maintaining target blood glucose levels. CGMs are especially useful if they frequently have lows and aren't aware of when they occur (hypoglycemia unawareness). Spain diabetes drugs and devices market segmented by drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs), and devices (management devices, insulin pumps, insulin pens, syringes, cartridges, and jet injectors, and monitoring devices, self-monitoring blood and continuous glucose monitoring). The report offers the value (in USD) and volume (in unit) for the above segments
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| Drugs | |
| Oral Anti-Diabetes Drugs | |
| Insulin Drugs | |
| Combination Drugs | |
| Non-Insulin Injectable Drugs |
Spain Diabetes Drugs and Devices Market Size Summary
The diabetes drugs and devices market in Spain is poised for significant growth over the coming years, driven by an increasing prevalence of diabetes and advancements in medical technology. The market is characterized by a robust demand for insulin drugs and medical devices such as insulin pumps and continuous glucose monitors, which are essential for managing type 1 diabetes. The competitive landscape is marked by a few key manufacturers who are continually innovating to meet the needs of patients, ensuring high-quality insulin production and the development of advanced monitoring devices. The COVID-19 pandemic has further underscored the importance of these technologies, as they have been crucial in managing blood sugar levels even under challenging conditions imposed by lockdowns. The Spanish healthcare system, with its strong focus on diabetes management, is expected to continue supporting market expansion through regulatory approvals and funding for innovative treatments.
Spain's diabetes market is also influenced by the country's high healthcare expenditure and the significant number of undiagnosed diabetes cases, which highlight the urgent need for effective screening and treatment solutions. The Spanish Diabetes Association emphasizes the importance of therapeutic education and equitable access to diabetes management resources, reflecting a broader trend towards integrated care approaches. The market's growth is supported by strategic partnerships and collaborations among major players like Abbott, Medtronic, and Novo Nordisk, who are investing heavily in research and development to enhance their product offerings. Regulatory approvals for new devices and treatments, such as the Eversense E3 continuous glucose monitor and Beovu for diabetic macular edema, further bolster the market's prospects, positioning Spain as a key player in the European diabetes healthcare landscape.
Spain Diabetes Drugs and Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Dynamics
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1.2.1 Market Drivers
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1.2.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products and Services
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1.3.5 Intensity of Competitive Rivalry
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2. Market Segmentation (Market Size by Value - USD)
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2.1 Devices
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2.1.1 Monitoring Devices
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2.1.1.1 Self-monitoring Blood Glucose Devices
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2.1.1.2 Continuous Blood Glucose Monitoring
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2.1.2 Management Devices
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2.1.2.1 Insulin Pump
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2.1.2.2 Insulin Syringes
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2.1.2.3 Insulin Cartridges
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2.1.2.4 Disposable Pens
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2.2 Drugs
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2.2.1 Oral Anti-Diabetes Drugs
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2.2.2 Insulin Drugs
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2.2.3 Combination Drugs
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2.2.4 Non-Insulin Injectable Drugs
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Spain Diabetes Drugs and Devices Market Size FAQs
What is the current Spain Diabetes Drugs and Devices Market size?
The Spain Diabetes Drugs and Devices Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Spain Diabetes Drugs and Devices Market?
Medtronics , Roche, NovoNordisk, Sanofi and Omnipod are the major companies operating in the Spain Diabetes Drugs and Devices Market.
