Spain In-Vitro Diagnostics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain In-Vitro Diagnostics Market Analysis
The Spain In-Vitro Diagnostics Market is expected to grow at a CAGR of 5.3% over the forecast period (2022-2027).
The ongoing Covid-19 pandemic impacted the studied market significantly. During the initial phase of the pandemic due to the lockdowns and shutdowns, the market was impacted adversely. However, owing to the increasing demand for testing and diagnosis of Covid-19 infection, and increasing cases of chronic disease in Spain, the in-vitro diagnostics market is predicted to witness steady growth. The government initiatives in response to Covid-19 are increasing recently. For instance, in June 2022, the World Health Organization (WHO)'s COVID-19 Technology Access Pool (C-TAP) and the South African business Biotech Africa signed a new license deal for a COVID-19 antibody test through the Medicines Patent Pool (MPP). The new deal expands upon the first non-exclusive licensing agreement with Spanish National Research Council (CSIC) announced by WHO and MPP in 2020. Thus, owing to the factors stated above, the pandemic is expected to considerably impact the market studied.
Factors such as the rising prevalence of chronic diseases and the increasing use of point-of-care (POC) diagnostics and the growth in the occurrence of cancer and heart diseases remain the key driver of the studied market. For instance, the Global Cancer Observatory data updated in March 2022 mentioned that around 282,421 new cancer cases were diagnosed in Spain in 2020. In addition, as per the International Diabetes Federation (IDF) data updated in November 2021, Spain has the second highest diabetes prevalence in Europe with 1 in 7 adults living with diabetes, and more than 5 million adults in the country are affected by the condition. Hence, the country's demand for early diagnostics for disease detection is expected to increase. And this is anticipated to drive the in-vitro diagnostics, driving the market growth in Spain.
Moreover, the major players in the country are actively focused on the innovation of technically advanced products which can be beneficial to the target population in the country for disease detection and treatment. Additionally, government investments are increasing in the country. For instance, in June 2021, the Government of Spain planned to invest nearly 400 million euros for the fiscal year in the development of the High-End Technology Equipment Investment Plan (INVEAT) of the National Health System (SNS) to meet in a planned and orderly way the needs of SNS. The portfolio of equipment to be renewed or expanded includes linear accelerators, CT, magnetic resonance imaging, PET-CT, gamma cameras, digital brachytherapy equipment, vascular angiographs, neuroradiology angiographs, and catheterization laboratories. Thus, such developments are anticipated to fuel market growth in the country.
Therefore, the increasing chronic diseases in the country and the availability of technically advanced products are expected to boost the in-vitro diagnostics market in Spain. However, strict regulations and irregular reimbursement policies are expected to hinder market growth over the studied period.
Spain In-Vitro Diagnostics Market Trends
This section covers the major market trends shaping the Spain In-vitro Diagnostics Market according to our research experts:
The Molecular Diagnostics Segment is Expected to Grow at Good Rate Over the Forecast Period
Molecular diagnostic devices are used to analyze biological markers in the genome and proteome to detect pathogens or mutations. Based on the technology used, molecular diagnostic devices can be segmented into chips and microarrays, mass spectroscopy, next-generation sequencing (NGS), polymerase chain reaction (PCR)-based methods, cytogenetics, and molecular imaging. Factors, such as large outbreaks of bacterial and viral epidemics in Spain, increasing demand for point-of-care diagnostics, and rapidly evolving technology, are driving the growth of the molecular diagnostics segment.
The advancements in molecular diagnostics followed by new product launches, and continuous engagement of market players in the form of partnership, collaboration, merger, and acquisition to expand their market presence are increasing in Spain recently. For instance, in December 2021, Co-Diagnostics, Inc., a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests completed the acquisition of Idaho Molecular Inc. and Advanced Conceptions, Inc. for nearly 4.72 million shares of the Company's stock, providing Co-Diagnostics with all existing and future assets and intellectual property related to the Company's upcoming at-home/point-of-care diagnostic device. Such developments in the segment are expected to contribute to the segment growth over the forecast period.
Moreover, an article published by the 'Economist Intelligence' in May 2022 stated that during the pandemic phase the polymerase chain reaction (PCR) molecular tests were used the most in 2021 in France and Spain. With the emergence of new variants and the increasing number of Covid-19 cases, the use of PCR tests is expected to rise. This is predicted to bolster the segment growth over the forecast period.
Therefore, owing to the aforementioned factors the segment is anticipated to witness growth over the forecast period.
Spain In-Vitro Diagnostics Industry Overview
The in-vitro diagnostics market in Spain is competitive due to the presence of many global players. Moreover, some domestic players have also been competing in the Spanish market, which made the region very competitive. Some of the market players in the market are Abbott Laboratories, Becton, Dickinson and Company, bioMerieux, Bio-Rad Laboratories, Inc., Danaher, F. Hoffmann-La Roche AG, and QIAGEN, among others.
Spain In-Vitro Diagnostics Market Leaders
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Becton, Dickinson and Company
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Bio-Rad Laboratories Inc.
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F. Hoffmann-La Roche AG
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Danaher
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bioMeriux
*Disclaimer: Major Players sorted in no particular order
Spain In-Vitro Diagnostics Market News
- In June 2022, Jant Pharmacal Corporation started distribution of the Viasure Monkeypox Real-Time PCR Detection Kit in the United States, as the number of infections continues to rise in the United States and internationally. The Viasure Monkeypox RT-PCR assay is available for research use only (RUO) applications. The Viasure line of RT-PCR RUO reagent kits is manufactured by CerTest Biotec in Spain.
- In January 2022, Vitro S.A, a company headquartered in Seville, Spain, sold Cytognos to Becton Dickinson and Company (BD). Cytognos is a company specializing in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for hematological diseases.
Spain In-Vitro Diagnostics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 High Burden of Chronic and Infectious Diseases
4.2.2 Increasing Use of Point-of-care (POC) Diagnostics
4.2.3 Growing Demand for Rapid Tests and Advanced Technologies in Healthcare Facilities
4.3 Market Restraints
4.3.1 Stringent Regulations
4.3.2 Irregular Reimbursement Policies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Test Type
5.1.1 Clinical Chemistry
5.1.2 Molecular Diagnostics
5.1.3 Other Types
5.2 By Product
5.2.1 Instrument
5.2.2 Reagent
5.2.3 Other Products
5.3 By Usability
5.3.1 Disposable IVD Devices
5.3.2 Reusable IVD Devices
5.4 By Application
5.4.1 Infectious Disease
5.4.2 Diabetes
5.4.3 Cancer
5.4.4 Cardiology
5.4.5 Autoimmune Diseases
5.4.6 Other Applications
5.5 By End Users
5.5.1 Diagnostic Laboratories
5.5.2 Hospitals and Clinics
5.5.3 Other End Users
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Danaher
6.1.3 bioMerieux
6.1.4 Becton, Dickinson and Company
6.1.5 Bio-Rad Laboratories, Inc.
6.1.6 QIAGEN
6.1.7 Arkray Inc.
6.1.8 Sysmex Corporation
6.1.9 Ortho Clinical Diagnostics
6.1.10 F. Hoffmann-La Roche AG
6.1.11 Siemens Healthineers AG
6.1.12 Thermo Fischer Scientific Inc.
6.1.13 OPERON, S.A.
6.1.14 FUJIFILM Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain In-Vitro Diagnostics Industry Segmentation
As per the scope of this report, in vitro diagnostics involves medical devices and consumables that are utilized to perform in vitro tests on various biological samples. They are used for the diagnosis of various medical conditions, such as infectious diseases, cardiovascular diseases, diabetes, and cancer, among other diseases. The Spain In-Vitro Diagnostics Market is segmented by Test Type (Clinical Chemistry, Molecular Diagnostics, and Other Techniques), Product (Instrument, Reagent, and Other Products), Usability (Disposable IVD Devices and Reusable IVD Devices), Application (Infectious Disease, Diabetes, Cancer, Cardiology, Autoimmune Diseases and Other Applications), and End-users (Diagnostic Laboratories, Hospitals and Clinics and Other End-users). The report offers the value (in USD million) for the above segments.
| By Test Type | |
| Clinical Chemistry | |
| Molecular Diagnostics | |
| Other Types |
| By Product | |
| Instrument | |
| Reagent | |
| Other Products |
| By Usability | |
| Disposable IVD Devices | |
| Reusable IVD Devices |
| By Application | |
| Infectious Disease | |
| Diabetes | |
| Cancer | |
| Cardiology | |
| Autoimmune Diseases | |
| Other Applications |
| By End Users | |
| Diagnostic Laboratories | |
| Hospitals and Clinics | |
| Other End Users |
Spain In-Vitro Diagnostics Market Research FAQs
What is the current Spain In-vitro Diagnostics Market size?
The Spain In-vitro Diagnostics Market is projected to register a CAGR of 5.30% during the forecast period (2024-2029)
Who are the key players in Spain In-vitro Diagnostics Market?
Becton, Dickinson and Company, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, Danaher and bioMeriux are the major companies operating in the Spain In-vitro Diagnostics Market.
What years does this Spain In-vitro Diagnostics Market cover?
The report covers the Spain In-vitro Diagnostics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain In-vitro Diagnostics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain In-vitro Industry Report
Statistics for the 2024 Spain In-vitro market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Spain In-vitro analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
