The Spain-connected healthcare market is projected to grow from $1.28 Bn in 2022 to $8.89 Bn by 2030, registering a CAGR of 27.4% during the forecast period of 2022 - 2030. The main factors driving the growth would be the ageing population, increasing demand for patient-centred care, growing digital health ecosystem and favourable government policies. The market is segmented by type, function and by application. Some of the major players include Telefonica, Primum Health, HumanITcare, Medtronic, Philips Healthcare and Siemens Healthineers.
The Spain-connected healthcare market is projected to grow from $1.28 Bn in 2022 to $8.89 Bn by 2030, registering a CAGR of 27.4% during the forecast period of 2022 - 2030. In Spain, the amount spent on healthcare grew in 2019 from $2,740 per person or 8.99% of GDP to $2,711 per person or 9.13% of GDP. Compared to the EU average, Spain continues to spend less per person on healthcare. There is a growing disparity between Spain and the EU in terms of overall health spending, which is due to a slower growth rate during the past ten years.
The healthcare system in Spain combines public and private providers, with the public system offering all inhabitants universal coverage. The use of connected healthcare technologies has increased recently. The creation of digital health platforms that let people access their medical records, schedule appointments, and communicate with their healthcare providers is an illustration of a connected healthcare initiative in Spain. Additionally, these systems offer solutions for the remote monitoring of patients with long-term diseases like diabetes and high blood pressure.
Market Growth Drivers
The Spain-connected healthcare market is expected to be driven by factors such as
The following factors are expected to limit the growth of the connected healthcare market in Spain:
December 2022: Telefonica and Indra entered into a partnership. With the help of this arrangement, the two businesses will be able to deliver digital hospital solutions across the globe.
The Spanish Agency of Pharmaceuticals and Medical Devices (AEMPS), which is in charge of examining and approving medical devices and digital health solutions, oversees the regulatory framework for connected healthcare in Spain. These solutions' quality, safety, and efficacy are evaluated by the agency, which also decides whether they qualify for marketing and funding.
The Spanish government has put in place a number of laws to encourage the adoption of telemedicine and e-prescriptions as well as other digital health solutions. A law allowing for the reimbursement of telemedicine services, such as remote consultations and chronic disease monitoring, was introduced by the government in 2019. The bill also permits reimbursement for e-prescriptions, allowing patients to get their medications online. A national electronic health record system (SEI) that allows the gathering and exchange of health data among healthcare providers has also been put in place by the government.
The connected healthcare market in Spain is governed by a number of reimbursement laws that specify how healthcare providers are paid for their services. The Spanish national healthcare system, which offers comprehensive coverage to all citizens and permitted immigrants, is one of the country's main reimbursement policies. In this arrangement, government funds and patient co-payments are combined to pay healthcare professionals for their services. Private insurance firms also contribute significantly to Spain's connected healthcare market by providing their policyholders with a range of payment options.
Spain has also recently put into practice cutting-edge reimbursement procedures for online healthcare services like telemedicine and remote monitoring. These regulations are designed to encourage the use of digital health tools and increase patient access to care, especially for those who live in remote or underserved locations. To give an alternative to customary in-person visits, the Spanish government, for instance, has implemented payment laws that let healthcare practitioners bill for teleconsultations and remote monitoring services.
1. Report Description of the Spain Connected Healthcare Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Spain Connected Healthcare Market Executive Summary
2.1 Spain Connected Healthcare Market – Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Spain Connected Healthcare Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Spain Connected Healthcare Market Segmentation
4.1 By Type
4.1.1 mHealth services
4.1.2 mHealth Devices
4.1.3 E- Prescription
4.2 By Function Type
4.2.1 Remote patient monitoring
4.2.2 Clinical monitoring
4.2.4 Others (Assisted Living)
4.3 By Application Type
4.3.1 Diagnosis and Treatment
4.3.2 Monitoring Application
4.3.3 Wellness and Prevention
4.3.4 Healthcare management
4.4 By End-user
4.4.1 Hospitals and Clinics
4.4.2 Home monitoring
5. Spain Connected Healthcare Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Spain
8.2 Regulatory Framework in Spain
8.3 Pricing & Reimbursement Scenario in Spain Connected Healthcare Market
9. Factors Driving Future Growth
9.1 New Trends and Development Spain Connected Healthcare Market
9.2 Future Opportunities
10. Strategic Recommendations
By Type (Revenue, USD Billion):
Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription
By FunctionType (Revenue, USD Billion):
By Application Type (Revenue, USD Billion):
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