Spain Endoscopy Devices Market Size

Spain Endoscopy Devices Market Analysis

The Spain Endoscopy Devices Market size is estimated at USD 0.89 billion in 2024, and is expected to reach USD 1.16 billion by 2029, growing at a CAGR of 5.13% during the forecast period (2024-2029).

• The COVID-19 pandemic had a significant impact on the Spain endoscopy devices market due to the lockdown and the partial or full closure of endoscopy services due to the high influx of COVID-19 patients. For instance, the Spanish Foundation of the Digestive System (SEPD) suggested reducing the number of appointments to avoid crowding in the waiting room for endoscopy.
• The impact of the COVID-19 disease prompted limiting the reasons, with some centers only allowing urgent endoscopies. Hence, COVID-19 had a significant impact on the Spain endoscopy devices market. However, with the return of endoscopy services and a decrease in COVID-19 cases, the studied market is predicted to recover from the COVID-19 reduction during the forecast period.
• Factors such as an increase in the adoption of endoscopy for the treatment and diagnosis of chronic diseases, growing preference for minimally invasive surgeries, and technological advancements in endoscopy devices are expected to drive market growth over the forecast period. For instance, as per the International Agency for Research on Cancer (IARC) estimations, 305,357 cases of new cancer cases are likely to be diagnosed by 2025 in Spain. Hence, the high prevalence of cancer cases in Spain is expected to utilize endoscopy services, thereby driving market growth over the forecast period. 
• Moreover, technological advancement and product launches are likely to positively impact market growth. For instance, in November 2021, Nexus Sisinf, a technology company specializing in e-Health solutions for hospitals, health centers, and residences, presented the 'Nexus/Diagnostics' software for the preparation of gastroenterology reports at the 43rd Congress of the Spanish Society of Digestive Endoscopy (SEED). The solution can be applied in different types of examinations such as gastroscopy, colonoscopy, ERCP (endoscopic retrograde cholangiopancreatography), bronchoscopy, abdominal ultrasound, or echocardiography. It allows it to be adapted to each clinical practice and integrated with other equipment, such as endoscopy towers, ultrasound devices, washers/disinfectors, and drying cabinets.
• Hence, the high prevalence of chronic diseases that adopt endoscopes for treatment and diagnosis and technological advancements are the major factors that are leading to the growth of the market. However, the lack of skilled technicians and infections caused by few endoscopes are hindering the market growth.