Market Trends of Spain Diabetes Devices Industry
Monitoring Devices Hold Highest Market Share in Spain Diabetes Care Devices Market in the current year
Patients with type-1 diabetes (T1D) must maintain healthy lifestyle conditions, which depend on a person's personality traits, social interactions, socioeconomic circumstances, and environmental living factors. The use of continuous glucose monitoring (CGM) with multiple daily injections (MDI) has shown a reduction in non-severe and severe hypoglycemia in people with type-1 diabetes prone to this adverse event.
These organizations typically can accept or reject a product from the market, but they infrequently use this authority for novel gadgets. Spain now has the second-highest prevalence of diabetes in Europe at 14.8%, or one in every seven people. Also, Spain now ranks among the top 10 nations in terms of the amount spent on diabetes-related healthcare, with a total of 15.5 billion USD.
The increasing demand for CGM devices has also led to advancements in technology and innovation in the market. Manufacturers are constantly developing new and improved devices that offer enhanced accuracy, convenience, and ease of use for patients.
In conclusion, the concerning rise in the prevalence of diabetes in Spain has fueled the growth of the diabetes device market in the country. As more individuals are diagnosed with the disease, the demand for effective tools to manage diabetes has increased, leading to a surge in the availability and innovation of diabetes devices in Spain.
Increasing Type -1 Diabetes Population in Spain Boosting the Spain Diabetes Devices Market.
In Spain, the type-1 diabetes population increased, registering a CAGR greater than 3% over the forecast period. More than 0.35 million people were expected to be living with type-1 diabetes in 2021. Up to 13.8% of adults in Spain are believed to have diabetes, with around 6% having diabetes that has not yet been diagnosed. Similar prevalence numbers have been noted in the five million-person Valencian Community, an area of Spain. In this area, primary care doctors monitor most diabetic patients and collaborate closely with endocrinologists to handle more complicated cases.
Numerous articles noted that people with diabetes were more likely to experience more severe COVID-19 instances, have worse outcomes, and have higher fatality rates. The SED anticipates the fatality rate to multiply, as the mortality risk is estimated to be around 7.3% for the Spanish population suffering from diabetes, unlike the 0.9%-3% mortality risk associated with the non-diabetic population.
In Spain, 30.3% of those with diabetes have never received a diagnosis. Diabetes can result in serious and sometimes fatal consequences like heart attack, stroke, kidney failure, blindness, and lower limb amputation when it is not recognized or treated properly. They have the effect of lowering quality of life and raising healthcare expenses.
The number of people with diabetes in Spain has sharply increased during the last two years. According to Dr. Antonio Pérez Pérez, President of the Spanish Diabetes Association (SED) and Director of the Department of Endocrinology and Nutrition at the Hospital de la Santa Creu I Sant Pau in Barcelona, this is a concerning trend that affects millions of people's lives nationwide.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in Spain.
