Market Size of Spain Hospital Supplies Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 2.68 Billion |
Market Size (2029) | USD 3.57 Billion |
CAGR (2024 - 2029) | 5.90 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Spain Hospital Supplies Market Analysis
The Spain Hospital Supplies Market size is estimated at USD 2.68 billion in 2024, and is expected to reach USD 3.57 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
The COVID-19 pandemic had an impact on the country's economy and healthcare system. When the country was placed on lockdown, it affected how medicines, medical supplies, and other biotechnology products were distributed. As a result of the pandemic, most of the hospitals in Spain faced a scarcity of hospital supplies as the patient pool increased abruptly. For instance, as per the article published in April 2021 in PubMed, the reduced hospital bed capacity, the paucity of supplies, and the constrained staffing were the most obvious signs of health system deficiencies that occurred during the pandemic.
Although hospitals were swiftly expanded to accommodate more patients, and medical staff labored ceaselessly for several weeks, the health system was unable to handle the rising demand that was seen during the pandemic's initial peak. However, as the pandemic restrictions eased and the spread of the virus reduced, the market is anticipated to witness growth in the coming years due to the increase in communicable diseases and the rise in awareness about hospital-acquired infections.
Factors such as the increasing prevalence of infectious diseases and the rise in awareness of hospital-acquired infections are expected to boost market growth over the forecast period.
An increase in various infectious diseases like HIV, hepatitis, and common flu is one of the major factors driving the market growth over the forecast period. For instance, as per the Joint United Nations Programme on HIV/AIDS (UNAIDS), Spain Factsheet, 2021, nearly 160,000 adults aged 15 years and above were living with HIV in Spain in 2021. The high prevalence rate of HIV in the country is likely to drive the demand for its monitoring and patient care, thus fueling market growth.
Additionally, the spread of digital technologies is driving a transformation of the economy and society towards digital media. The rise in product launches and strategic collaborations by the key market players in Spain are expected to rise to boost market growth. For instance, in November 2021, three Spanish hospitals named Hospital 12 de Octubre and Hospital Ramón y Cajal, in Madrid, and Hospital Sant Pau utilized privacy-preserving artificial intelligence for COVID-19 screening. This collaboration aggregated the clinical experience of each hospital to develop automated medical diagnosis models, to facilitate and improve patient care. Similarly, in June 2021, SCGP expanded into the market for lab equipment and medical supplies signing a share purchase contract to purchase an 85% ownership in Spain's Deltalab, S.L.
Thus, increase in chronic diseases, a rise in technological advancements, and product launches in hospital supplies, the studied market is expected to witness notable market growth over the forecast period. However, stringent regulatory frameworks and the emergence of home care services are expected to hinder market growth.
Spain Hospital Supplies Industry Segmentation
As per the scope of the report, hospital supplies include every medical utility product that serves both the patient and medical professional with hospital infrastructure and enhances the network and transportation between hospitals. These include hospital equipment, patient aid, mobility equipment, and sterilization disposable hospital supplies. Spain Hospital Supplies Market is Segmented by Product (Patient Examination Devices, Operating Room Equipment, Mobility Aids and Transportation Equipment, Sterilization and Disinfectant Equipment, Disposable Hospital Supplies, Syringes and Needles, and Other Products). The report offers the value (in USD million) for the above segments.
By Product | |
Patient Examination Devices | |
Operating Room Equipment | |
Mobility Aids and Transportation Equipment | |
Sterilization and Disinfectant Equipment | |
Disposable Hospital Supplies | |
Syringes and Needles | |
Other Products |
Spain Hospital Supplies Market Size Summary
The Spain hospital supplies market is poised for significant growth over the forecast period, driven by an increase in chronic and infectious diseases, alongside technological advancements and strategic product launches. The market's expansion is influenced by the rising prevalence of conditions such as HIV and cancer, which necessitate enhanced patient care and examination devices. The COVID-19 pandemic highlighted deficiencies in the healthcare system, prompting a surge in demand for hospital supplies. As the pandemic's impact wanes, the market is expected to benefit from increased awareness of hospital-acquired infections and communicable diseases. The integration of digital technologies and strategic collaborations among key players further propels market growth, with initiatives like privacy-preserving artificial intelligence for medical diagnostics and expansions in lab equipment production.
The market landscape is moderately competitive, with major players like GE Healthcare, B Braun SE, 3M, Cardinal Health Inc., and Medtronic PLC actively engaging in product development and strategic partnerships to enhance their market presence. Government funding and initiatives, such as the REACT-EU program, support the acquisition of medical supplies and infrastructure improvements, further stimulating market growth. The syringes and needles segment, in particular, is expected to see substantial growth due to the rising demand for vaccinations and the investment in production capabilities. Innovations in medical devices, such as the development of a syringe carrier for emergency use, also contribute to the market's expansion. Overall, the Spain hospital supplies market is set to experience notable growth, driven by a combination of healthcare needs, technological advancements, and strategic industry activities.
Spain Hospital Supplies 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 Drivers
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1.2.1 Increasing Incidences of Infectious and Chronic Diseases
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1.2.2 High Demand for Hospital Supplies Coupled with Rising Public Awareness about Hospital Acquired Infections
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Framework & Emergence of Home Care Services
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Patient Examination Devices
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2.1.2 Operating Room Equipment
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2.1.3 Mobility Aids and Transportation Equipment
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2.1.4 Sterilization and Disinfectant Equipment
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2.1.5 Disposable Hospital Supplies
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2.1.6 Syringes and Needles
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2.1.7 Other Products
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Spain Hospital Supplies Market Size FAQs
How big is the Spain Hospital Supplies Market?
The Spain Hospital Supplies Market size is expected to reach USD 2.68 billion in 2024 and grow at a CAGR of 5.90% to reach USD 3.57 billion by 2029.
What is the current Spain Hospital Supplies Market size?
In 2024, the Spain Hospital Supplies Market size is expected to reach USD 2.68 billion.