Market Size of Spain Ultrasound Devices Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
