Spain Aesthetic Devices Market Size

Spain Aesthetic Devices Market Analysis

The Spain aesthetic devices market is projected to register a CAGR of 5.9% during the forecast period (2022-2027).

Considering the COVID-19 outbreak, the perspectives on the present and future state of the economy are still negative. Healthcare also had a large impact and caused damage to its process and flow during the pandemic. This was expected to have a significant impact on the market in Spain. In Spain, 58% of private hospitals lament the lack of physicians, and 95% of hospitals lament the lack of nurses. The cosmetic surgeries were postponed because the other surgeries had to deal with this issue. The country's market is anticipated to be significantly impacted by this. According to an article titled 'Cosmetic tourism during the COVID-19 pandemic: Dealing with the aftermath' published in January 2022, during the COVID-19 pandemic, the European Association of Societies of Aesthetic Plastic Surgery (EASAPS) released a statement that advised the immediate suspension of cosmetic surgery so that all resources could be redirected to overcoming the pandemic

The Spanish medical aesthetic devices market has gained a lot of momentum in recent years due to the increase in the number of cosmetic surgeries being performed and the increasing concern with appearance and looks. As per an article titled 'Cosmetic Surgery in Spain' published in 2020, cosmetic surgery in Spain's prices is about 60% lower than in the United Kingdomor America. For instance, a tummy tuck's cost in Spain is GBP 7,000 while in the United Kingdom it is over GBP 11,000 for the same procedure. This is expected to boost the market in the country. Spain's medical tourism packages are available for international patients at more competitive prices than in the United Kingdom. This also helps the market to flourish in the country. As per an article titled '5 Best Countries for Medical Tourism' published in 2022, many patients choose European countries over Spain for various treatments because of no significant cost difference. Spain has 22 Joint Commission International (JCI) accredited hospitals specializing in neurosurgery, oncology, orthopedics, hematology, and plastic surgery. Therefore, the abovementioned factors are expected to promote the market in the country.

The internet steers the nation's population toward different cosmetic operations and is predicted to grow the industry. With the advent of the internet, information became accessible to everyone, and people started becoming more aware of aesthetic procedures. Hence, all these factors have increased the awareness about medical aesthetic procedures, which in turn, has increased the sales of medical aesthetic devices. This is expected to increase the market growth in the country. For instance, as per an article titled 'E-commerce in Spain: Determining factors and the importance of the e-trust' published in February 2022, the digital divide between Spain and other European Union (EU) countries has been reduced or overcome, as 90% of the Spanish population has access to the Internet at home. Such an increased usage of the internet is expected to influence the population of the country and have a large impact on the market and help it to grow further in the forecast period.

As per the article 'Has the Prevalence of Obesity in Spain Plateaued? A Systematic Review and Meta-Analysis' published in April 2022, the prevalence of excess body weight in Spain increased from 23.3% during the period 1999-2010 to 39.9% during 2011-2021. Thus, obesity has also been one primary factor that has been driving the growth of the market. Moreover, the rising adoption of minimally invasive devices in the field has also made devices and instruments more precise and safer. The adoption of minimally invasive surgical instruments is higher in hospitals and specialty clinics, owing to their higher purchasing power, and highly skilled professionals. Hence, all these factors have helped the market growth.

The poor reimbursement scenario, the high cost of treatment, and risk of malfunctions in the aesthetic surgeries are expected to restrain the market growth in the country.