Spain Hospital Supplies Market Size

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.