The Medical Device Market: Spain

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Medical Devices:

Espicom Business Intelligence
Management Report October 2007

Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year. The Spanish healthcare system faces further upheaval as administrative and financial responsibility for healthcare services is finally being transferred to those regions previously administered centrally. Despite increased investment in healthcare in recent years, which has boosted per capita healthcare expenditure to over US$1,000, funding for the national health service remains tight, and the government has acknowledged that public health expenditure needs to rise by a further 1.0% of GDP, from the current 7.7%, in order to meet demand.

The decentralisation of the Spanish healthcare system and the large number of different hospital operators mean that the market is both fragmented and regionalised. Distribution of medical products is primarily carried out by multinational subsidiaries and a large number of small family-owned regional distributors, each with revenues of under US$10 million. These are estimated to account for around 75% of the total market. The remaining 25% is covered by six larger distribution companies (Grupo Taper, Prim, Cormedica, Palex, MAB, Izasa), which operate on a national scale. There are signs that the larger distribution companies are gaining market share as lengthy delays in payment by public health service operators force out smaller companies.

The Spanish market for medical equipment and supplies is estimated at US$3.7 billion in 2007. This is equal to per capita spending of US$82. The market size is below that found in most Western European markets but is similar to that of Switzerland; in per capita terms, it is comparable to the more developed CEE countries such as the Czech Republic and Estonia. Around 90% of the market is supplied by imports.

Number of pages - 122

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