Spain Ultrasound Devices Market Size
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 236.57 Million |
Market Size (2029) | USD 303.85 Million |
CAGR (2024 - 2029) | 5.14 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Spain Ultrasound Devices Market Analysis
The Spain Ultrasound Devices Market size is estimated at USD 236.57 million in 2024, and is expected to reach USD 303.85 million by 2029, growing at a CAGR of 5.14% during the forecast period (2024-2029).
The COVID-19 pandemic significantly impacted the ultrasound devices market in Spain, as various departments used ultrasound imaging for COVID-19-affected patients. For instance, according to an article published by PLOS ONE in February 2023, a study was conducted in Spain where ultrasound imaging was successfully used to assess the diaphragm and abdominal muscles in people with a recent history of moderate COVID-19 infection. Thus, such factors affected the growth of the studied market during the pandemic. However, as the pandemic has subsided, the Spain ultrasound devices market is expected to have stable growth during the forecast period of the study.
Ultrasound devices are majorly used in imaging procedures for diagnosing various diseases such as cardiovascular diseases and kidney and gall bladder stones, among others, which is anticipated to boost the growth of the ultrasound device market in Spain during the forecast period because the burden of these diseases is increasing in Spain. For instance, according to an article published by PubMed in August 2022, Spain is said to have a high burden of ischemic heart disease with a high hospital mortality rate. Moreover, according to an article published by ESC Heart Failure in July 2022, it is estimated that Spain has a high incidence of heart failure, which is said to be increasing over time. Thus, the high prevalence of such chronic diseases in the country is expected to boost the growth of the studied market.
Moreover, according to an article published by PubMed Central in December 2022, a study was conducted in Spain which stated that the development of portable and pocket ultrasound scanners in recent decades had allowed the point-of-care application of ultrasound, both in physicians' offices and in the home, which made it an accessible tool for family physicians. Thus, the rising access to technologically advanced ultrasound devices is also expected to enhance the market growth in Spain.
Moreover, the rising developments by market players are also expected to bolster market growth, as it is expected to increase the country's access to technologically advanced products. For instance, in May 2021, Viamed (a private hospital network in Spain) and Royal Philips Formed a partnership where Viamed's network of clinical centers would feature the most cutting-edge sophisticated diagnostic imaging technologies from Philips, including ultrasound devices.
Thus, the factors such as the rising prevalence of chronic diseases, the increasing access to technologically advanced ultrasound devices, and the increasing developments by market players are expected to boost the market growth during the forecast period of the study. However, stringent regulations are expected to hinder market growth.
Spain Ultrasound Devices Market Trends
High-intensity Focused Ultrasound Segment is Expected to Witness Significant Growth Over the Forecast Period
Focused ultrasonic energy is a non-invasive procedure for tissue ablation, and it can also be used to treat a variety of solid tumors. The high-intensity focused ultrasound (HIFU) is being utilized widely in healthcare practices to treat primary and metastatic tumors because it can accurately identify tumors for ablation. The high-intensity focused ultrasound devices segment is expected to witness significant growth as Spain has a high prevalence of cancer, and the applications of focused ultrasound are rising in this field for the treatment of various cancer types.
For instance, according to the data published by the Spanish Network of Cancer Registries in January 2021, an estimated 276.2 thousand new cases of cancer were recorded in Spain in 2021, out of which 43.6 thousand were colorectal cancer cases, 35.8 thousand were prostate cancer cases, and 33.4 thousand were breast cancer cases. Thus, the high prevalence of cancer in the country is expected to increase the usage of focused ultrasound devices for its treatment, thus driving the segment growth.
Moreover, according to a study published by Spanish authors in PubMed Central in February 2022, high-intensity focused ultrasound is said to be highly efficient in treating cancer such as pancreatic and prostate cancer. The source also stated that HIFU could be a safe and effective treatment for localized prostate cancer in patients of advanced age. This will result in a rise in the usage of HIFU systems in Spain's healthcare system for the radiation treatment of prostate cancer and pancreatic cancer, which is expected to increase the growth of Spain's high-intensity focused ultrasound systems market.
Hence, due to the above factors about high-intensity focused ultrasound systems, high-intensity ultrasound systems are expected to experience growth in the country.
Cardiology Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
Cardiovascular diseases such as heart failure, cardiac murmur, ischemic heart disease, and acute pulmonary artery thromboembolism are diagnosed by ultrasound devices. The increasing prevalence of such diseases in Spain and the increasing geriatric population in the country are expected to boost segment growth. For instance, according to an article published by PubMed in September 2022, a study was conducted in Catalonia, Spain, which showed that there was a high prevalence of cardiovascular diseases in Spain, and it is associated with various risk factors such as diabetes, hypertension, hyperlipidemia, obesity, and smoking. Thus, the high prevalence of such chronic diseases in the country is expected to boost the growth of the studied market.
Moreover, a large geriatric population in the country is also expected to boost market growth, as cardiovascular diseases are often associated with older people, which is expected to increase the usage of ultrasound devices for disease diagnosis. For instance, according to the data updated by the United Nations Population Fund Dashboard in 2022, an estimated 21% of Spain's total population was 65 years or older in 2022.
Thus, the factors mentioned above, such as the high prevalence of cardiovascular diseases in Spain and the rising geriatric population, are expected to enhance segment growth.
Spain Ultrasound Devices Industry Overview
Spain's ultrasound devices market is moderately competitive and consists of several major players. Some of the key companies in the market are Canon Medical Systems Corporation, GE Healthcare, Fujifilm Holdings Corporation, Siemens Healthineers AG, and Koninklijke Philips NV, among others.
Spain Ultrasound Devices Market Leaders
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Canon Medical Systems Corporation
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Fujifilm Holdings Corporation
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GE Healthcare
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Koninklijke Philips NV
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Siemens Healthineers AG
*Disclaimer: Major Players sorted in no particular order
Spain Ultrasound Devices Market News
- In September 2022, FUJIFILM Sonosite, Inc launched its new, premium Sonosite LX system in European countries, including Spain. The Sonosite LX system is a point-of-care ultrasound system.
- In May 2022, Clarius Mobile Health introduced a third-generation product line of high-performance wireless ultrasound scanners in the European Union countries including Spain.
Spain Ultrasound 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
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 Rising Usage of Ultrasound Devices in Disease Diagnosis
4.3 Market Restraints
4.3.1 Stringent Regulations
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Application
5.1.1 Anesthesiology
5.1.2 Cardiology
5.1.3 Gynecology/Obstetrics
5.1.4 Musculoskeletal
5.1.5 Radiology
5.1.6 Critical Care
5.1.7 Other Applications
5.2 By Technology
5.2.1 2D Ultrasound Imaging
5.2.2 3D and 4D Ultrasound Imaging
5.2.3 Doppler Imaging
5.2.4 High-intensity Focused Ultrasound
5.3 By Type
5.3.1 Stationary Ultrasound
5.3.2 Portable Ultrasound
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Canon Medical Systems Corporation
6.1.2 Fujifilm Holdings Corporation
6.1.3 GE Healthcare
6.1.4 Hologic Inc.
6.1.5 Koninklijke Philips NV
6.1.6 Mindray Medical International Limited
6.1.7 Samsung Electronics Co. Ltd
6.1.8 Esaote SpA
6.1.9 Siemens Healthineers AG
6.1.10 Carestream Health
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Ultrasound Devices Industry Segmentation
As per the scope of the report, ultrasound devices are used for an imaging method that creates images of various body structures using high-frequency sound waves. They are used to evaluate a variety of disorders relating to the liver, kidneys, and other abdominal conditions, including usage in pregnancy. As a result, these devices have a variety of uses in the medical area, including diagnostic imaging and therapeutic modality. Spain's ultrasound device market is segmented by application, technology, and type. Based on application the market is segmented as anesthesiology, cardiology, gynecology/obstetrics, musculoskeletal, radiology, critical care, and other applications). Based on technology the market is segmented into 2D ultrasound imaging, 3D and 4D ultrasound imaging, doppler imaging, and high-intensity focused ultrasound. Based on type the market is segmented as stationary ultrasound and portable ultrasound. The report offers the value (in USD) for all the above segments.
By Application | |
Anesthesiology | |
Cardiology | |
Gynecology/Obstetrics | |
Musculoskeletal | |
Radiology | |
Critical Care | |
Other Applications |
By Technology | |
2D Ultrasound Imaging | |
3D and 4D Ultrasound Imaging | |
Doppler Imaging | |
High-intensity Focused Ultrasound |
By Type | |
Stationary Ultrasound | |
Portable Ultrasound |
Spain Ultrasound Devices Market Research FAQs
How big is the Spain Ultrasound Devices Market?
The Spain Ultrasound Devices Market size is expected to reach USD 236.57 million in 2024 and grow at a CAGR of 5.14% to reach USD 303.85 million by 2029.
What is the current Spain Ultrasound Devices Market size?
In 2024, the Spain Ultrasound Devices Market size is expected to reach USD 236.57 million.
Who are the key players in Spain Ultrasound Devices Market?
Canon Medical Systems Corporation, Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips NV and Siemens Healthineers AG are the major companies operating in the Spain Ultrasound Devices Market.
What years does this Spain Ultrasound Devices Market cover, and what was the market size in 2023?
In 2023, the Spain Ultrasound Devices Market size was estimated at USD 224.41 million. The report covers the Spain Ultrasound Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Ultrasound Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Ultrasound Devices Industry Report
Statistics for the 2024 Spain Ultrasound Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Ultrasound Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.