The Spain Biomaterials Healthcare Market is expected to witness growth from $3.01 Bn in 2022 to $7.57 Bn in 2030 with a CAGR of 12.20% for the forecasted year 2022-2030. In Spain, Biomaterials are used in the developing area of regenerative medicine to repair or replace diseased or damaged tissues and organs. This is fuelling demand for biomaterials in Spain's healthcare market. The market is segmented by type and by application. Some key players in this market include Bioiberica, Regemat, Quimatryx, BASF SE, Celanese, Covestro AG and Evonik Industries.
The Spain Biomaterials Healthcare Market size is at around $3.01 Bn in 2022 and is projected to reach $7.57 Bn in 2030, exhibiting a CAGR of 12.20% during the forecast period. Less than 3% of all government spending goes to the Spanish Minister of Health. The Ministry of Health's budget rise by 6.5% in 2023 to a total of $3308,34 Mn. The national network for public health surveillance will receive $4.48 Mn, and Spain's new National Public Health Agency receive $3.41 Mn.
In Spain, the use of biomaterials is primarily used in the fields of orthopaedics, cardiovascular, dentistry, and wound treatment. With a market share of more than 40%, the orthopaedics sector is the largest. In the biomaterials industry, Spain has a strong emphasis on research and development, with numerous universities and research organisations undertaking ground-breaking work in this area. For instance, the University of the Basque Country's Biomaterials and Bioengineering Laboratory is a renowned study facility in Spain. To better integrate with the body, biomaterials are created to imitate the characteristics of natural tissues and organs. Better patient outcomes, such as quicker healing periods, fewer complications, and higher quality of life, may result from this. Costs of long-term care and treatment can be decreased with the use of biomaterials in healthcare. Biomaterials have the potential to help patients and healthcare practitioners save money by lowering the need for additional procedures or interventions. Patients who previously might not have had access to particular treatments or medicines may benefit from increased access to care thanks in part to biomaterials. Biomaterials can help to improve health outcomes for a broader variety of patients by offering more treatment options.
Market Growth Drivers
In Spain, Biomaterials are used in the developing area of regenerative medicine to repair or replace diseased or damaged tissues and organs. This is fuelling demand for biomaterials in Spain's healthcare market. Cancer and cardiovascular illness are becoming more common in Spain. The industry is expanding as a result of the development and use of biomaterials to treat these diseases. With an increasing proportion of citizens over 65, Spain has an ageing populace. The market is expanding as a result of the use of biomaterials to address age-related diseases like osteoporosis and arthritis. Advances in biomaterials technology in Spain are expanding the range of biomaterials that can be created and applied for medical uses. As a consequence, innovation and development are driving the market for healthcare biomaterials.
Market Restraints
For Spanish startups and small businesses in particular, the development and testing of biomaterials can be expensive. Due to this, it might be challenging for manufacturers to enter the Spanish healthcare industry or to outbid older, more reputable rivals. Conventional surgical implants, drug treatments, and other well-established medical technologies compete with biomaterials in the medical field. There might be less demand for biomaterials if consumers and healthcare professionals favour these technologies.
Key Players
2021: To create and sell hyaluronic acid-based biomaterials for inflammatory and respiratory diseases, Bioiberica partnered with the Italian pharmaceutical firm Chiesi in 2021.
The Medical Devices Regulation of the European Union, which mandates that manufacturers prove their devices are safe and effective before they can be sold in Spain, applies to biomaterials used in medical applications. The EU Clinical Trials Regulation, which lays out guidelines for the design, execution, and reporting of clinical trials of medical products, must be followed when conducting clinical trials of biomaterials in Spain. Health technology assessments are conducted on the biomaterials used in Spain's state healthcare system to determine the clinical and financial merits of various medical procedures and technologies. Spanish Agency for Medicines and Medical Devices is in charge of overseeing the licencing and monitoring of biomaterials for medical uses, as well as the regulation of medical devices and pharmaceuticals in Spain.
1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Type (Revenue, USD Billion):
Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Spain market in 2019. The growing geriatric population Spainly is expected to drive growth for this segment.
By Application (Revenue, USD Billion):
The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides
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