Spain ENT Devices Market Analysis

Spain ENT Devices Market Analysis


$ 3999

Spain's ENT Devices Market is projected to grow from $450 Mn in 2022 to $650 Mn by 2030, registering a CAGR of 4.8% during the forecast period of 2022 -30. The rising prevalence of ENT disorders, such as hearing loss, sinusitis, and tonsillitis, is a major driver of the ENT device market. The market is highly competitive, with a large number of players operating in the space, ranging from small, specialized companies to large multinational corporations. The domestic key players in the Spain ENT devices market include Interacoustics, Facoelche, and Schuco.

ID: IN10ESMD009 CATEGORY: Medical Devices GEOGRAPHY: Spain AUTHOR: Dr. Vishwa Modhia

Buy Now

Spain ENT Devices Market Analysis Summary

Spain's ENT Devices Market is projected to grow from $450 Mn in 2022 to $650 Mn by 2030, registering a CAGR of 4.8% during the forecast period of 2022-30

Spain is a high-income developed country located in Southwestern Europe. The coastlines include the Bay of Biscay, the Mediterranean Sea, and the Northern Atlantic Ocean. The AEMPS is in charge of medical device regulation in Spain, covering ENT equipment such as hearing aids, cochlear implants, and nasal dilators. Many recent technological advancements in ENT medical devices, such as the use of 3D printing and robotic surgery, have occurred. To remain competitive, Spanish companies are investing in this technology. Spain’s government spent 10.7% of its GDP on healthcare in 2020.

Spain ENT Devices Market

Market Dynamics

Market Growth Drivers Analysis

Training and education are highly valued in the Spanish medical community, and there are numerous possibilities for healthcare workers to learn about new ENT medical technologies and methods. There are numerous clinics in Spain that treat ENT problems. The Ruber Internacional Private Hospital in Madrid offers world-class care for disorders affecting auditory function, speech and swallowing behaviour, taste, oral pain syndromes, sinonasal inflammatory disease development, and head and neck cancer. These aspects could boost Spain's ENT Devices Market.

Market restrains.

In Spain, there are severe standards that must be observed. ENT medical devices are governed by the Spanish Agency of Medicines and Medical Devices (AEMPS). The AEMPS is in charge of ensuring that medical devices are safe and effective for patients to use. Access to care for ear illnesses and hearing loss is frequently restricted due to a lack of proper information and stigmatising attitudes toward these conditions. These factors may deter new entrants into the Spain ENT Devices Market.

Competitive Landscape

Key Players

  • Interacoustics - Based in Málaga, Spain, this company produces a range of medical devices for use in ENT, including audiology equipment, balance assessment tools, and ABR equipment
  • Facoelche - Based in Elche, Spain, this company produces a range of medical devices for use in ENT, including ear specula, suction tubes, and laryngeal mirrors
  • Grena Ltd. - Based in Valencia, Spain, this company produces a range of medical devices for use in ENT surgery, including micro scissors, forceps, and needle holders
  • Schuco - Based in Barcelona, Spain, this company produces a range of medical devices for use in ENT, including nasal splints, laryngoscopes, and suction tubes
  • Euroclinic Medi-Care Solutions - Based in Madrid, Spain, this company produces a range of medical devices for use in ENT, including nasal specula, sinus irrigation systems, and ear syringes

Recent Notable Updates

March 2023: In March 2023, the Royal Decree 192/2023 on Medical Devices was published, which adapted Spanish national rules to the provisions of Regulation (EU) 2017/745. Among other significant changes, the new Royal Decree identifies the competent authority in Spain for medical devices, broadens the scope of some provisions to include new types of products, and introduces provisions governing the manufacture of in-house products and the reprocessing of single-use products.

Healthcare Policies and Reimbursement Scenarios

In Spain, the regulation and reimbursement of ENT (Ear, Nose, and Throat) devices are overseen by various bodies, including the Spanish Agency of Medicines and Medical Devices (AEMPS) and the National Health System (Sistema Nacional de Salud, or SNS). The AEMPS assesses the safety, quality, and performance of these devices to ensure they meet the necessary standards before they can be marketed and used in Spain. The reimbursement of ENT devices in Spain is managed by the SNS. This system provides universal health coverage to all Spanish citizens, and ENT devices are often covered under the insurance provision.

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

ENT Device Market Segmentation

The ENT Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Diagnostic Devices
  • Surgical Devices
  • Hearing Aids
  • Hearing Implants
  • Co2 Lasers
  • Image-Guided Surgery Systems

By Diagnostic Devices (Revenue, USD Billion):

  • Endocsopes
  • Hearing Screening Devices

By Surgical Device (Revenue, USD Billion):

  • Powered Surgical Instruments
  • Radiofrequency (RF) Handpieces
  • Handheld Instruments
  • Balloon Sinus Dilation Devices
  • ENT Supplies
  • Ear Tubes
  • Voice Prosthesis Devices

By End Users (Revenue, USD Billion):

  • Hospitals and Ambulatory Settings
  • Home Use
  • ENT Clinics

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 30 January 2024
Updated by: Bhanu Pratap Singh

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up