Spain Diabetes Devices Market Size
| Study Period | 2019- 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 0.71 Billion |
| Market Size (2029) | USD 1.02 Billion |
| CAGR (2024 - 2029) | 7.41 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain Diabetes Devices Market Analysis
The Spain Diabetes Devices Market size is estimated at USD 0.71 billion in 2024, and is expected to reach USD 1.02 billion by 2029, growing at a CAGR of 7.41% during the forecast period (2024-2029).
In Sapin According to WHO, as of 25 June 2022, a total of 102,258,825 vaccine doses have been administered. Regardless of previous diabetes history, admission hyperglycemia is a significant predictor of all-cause death in non-critically hospitalized COVID-19 patients. Spain was among the nations most severely impacted by the COVID-19 pandemic in 2020. A total countrywide lockdown was implemented from 14 March 2020 through 21 June 2020 to limit the epidemic due to an increase in instances.
The diabetes device market in Spain has witnessed significant growth in recent years, driven by the growing number of people living with diabetes. These devices play a crucial role in helping individuals monitor their blood glucose levels, administer insulin, and manage their overall health.
One of the key factors contributing to the rise in diabetes prevalence is the changing lifestyle and dietary habits of the Spanish population. The adoption of a more sedentary lifestyle, coupled with an increase in the consumption of processed foods and sugary beverages, has led to a higher incidence of obesity and type 2 diabetes.
Additionally, an aging population and genetic predisposition to diabetes have also contributed to the increasing prevalence of the disease. As the population ages, the risk of developing diabetes rises, further driving the demand for diabetes devices.
The Spanish government and healthcare organizations have recognized the urgency of addressing this issue and have implemented various initiatives to combat the rising prevalence of diabetes. These initiatives include awareness campaigns, educational programs, and improved access to diabetes management resources, including diabetes devices.
Critical elements of the therapy of type 1 diabetes include medical devices (T1D). Devices include insulin pumps, continuous glucose monitors (CGMs), and blood glucose meters. These gadgets are linked to better glucose management and decreased hypoglycemia.
Spain Diabetes Devices Market Trends
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.
Spain Diabetes Devices Industry Overview
The new technologies in diabetes devices, like continuous glucose monitoring, have increased the market for monitoring devices. The mergers and acquisitions between the players, like the acquisition of TypeZero Technologies by Dexcom, are paving the way for automated insulin delivery. The acquisition has sent Dexcom ahead on its way in the race to create an artificial pancreas system, rather than merely offering a boost to the continuous glucose monitoring devices market.
Spain Diabetes Devices Market Leaders
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Dexcom
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Abbott
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Novo Nordisk
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Medtronic
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Sanofi
*Disclaimer: Major Players sorted in no particular order
Spain Diabetes Devices Market News
- February 2024: DexCom introduced its real-time continuous glucose monitoring (CGM) system Dexcom ONE+ in Spain, Belgium, and Poland. Additionally, the company announced that the device is scheduled to be released in the Netherlands during the week commencing 12 February. Dexcom stated that Dexcom ONE+ will be launched in the Middle East, Africa, and various other European nations in the upcoming months.
- November 2022: The Eversense E3 continuous glucose monitor (CGM) was approved by the FDA and it received a CE Mark approval in Europe for people with diabetes aged 18 and older.
- June 2022: Senseonics received a CE mark for a 6-month CGM implant. Ascensia Diabetes Care, which signed up to sell Eversense in 2020, was expected to distribute the diabetes device in countries including Germany, Italy, and Spain, where it was laying the groundwork for launch through sales conferences and changes to its distribution model.
Spain Diabetes Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Monitoring Devices
5.1.1 Self-monitoring Blood Glucose Devices
5.1.1.1 Glucometer Devices
5.1.1.2 Test Strips
5.1.1.3 Lancets
5.1.2 Continuous Blood Glucose Monitoring
5.1.2.1 Sensors
5.1.2.2 Durables
5.2 Management Devices
5.2.1 Insulin Pump
5.2.1.1 Insulin Pump Device
5.2.1.2 Insulin Pump Reservoir
5.2.1.3 Infusion Set
5.2.2 Insulin Syringes
5.2.3 Insulin Cartridges
5.2.4 Disposable Pens
6. MARKET INDICATORS
6.1 Type-1 Diabetes population
6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Becton and Dickenson
7.1.2 Medtronic
7.1.3 Insulet
7.1.4 Tandem
7.1.5 Ypsomed
7.1.6 Novo Nordisk
7.1.7 Sanofi
7.1.8 Eli Lilly
7.1.9 Abbottt
7.1.10 Roche
7.1.11 Lifescan (Johnson &Johnson)
7.1.12 Dexcom
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Diabetes Devices Industry Segmentation
The Spanish diabetes devices market is segmented by management devices (insulin pumps, insulin syringes, cartridges in reusable pens, insulin disposable pens, and jet injectors) and monitoring devices (self-monitoring blood glucose and continuous glucose monitoring). The report offers the value (in USD) and volume (in units) for the above segments.
| Monitoring Devices | |||||
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| Management Devices | |||||
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| Insulin Syringes | |||||
| Insulin Cartridges | |||||
| Disposable Pens |
Spain Diabetes Devices Market Research FAQs
How big is the Spain Diabetes Devices Market?
The Spain Diabetes Devices Market size is expected to reach USD 0.71 billion in 2024 and grow at a CAGR of 7.41% to reach USD 1.02 billion by 2029.
What is the current Spain Diabetes Devices Market size?
In 2024, the Spain Diabetes Devices Market size is expected to reach USD 0.71 billion.
Who are the key players in Spain Diabetes Devices Market?
Dexcom, Abbott, Novo Nordisk, Medtronic and Sanofi are the major companies operating in the Spain Diabetes Devices Market.
What years does this Spain Diabetes Devices Market cover, and what was the market size in 2023?
In 2023, the Spain Diabetes Devices Market size was estimated at USD 0.66 billion. The report covers the Spain Diabetes Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Diabetes Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Diabetes Devices Industry Report
Statistics for the 2024 Spain Diabetes Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Diabetes Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Spain Diabetes Devices Market Report Snapshots
