Jennifer Mendoza
Research expert covering health, pharma and medtech
Medical technology in Spain – statistics & facts
From syringes and band-aids to in vitro diagnostics (IVD) and diagnostic imaging devices, medical technology has revolutionized the prevention, diagnosis, and treatment of health conditions around the world, resulting in a market that generates over 500 billion euros in revenue each year. In Spain, the medtech industry comprises more than 5,000 manufacturing companies that create direct employment for approximately 32,000 people, with single-use medical devices, in vitro diagnostics, and electromedical devices accounting for the highest share of manufacturing companies.
When it comes to companies, the multinational Werfen leads the local industry. Founded in Barcelona, the company’s focus is specialized diagnosis in areas such as hemostasis, transplants, and transfusions. Global players operating in the Spanish medtech market include multinational corporations such as the American-Irish Medtronic and the Swiss Roche Diagnostics.
What are the market’s key segments and players?
Revenue of the medical technology market in Spain is mainly driven by the medical devices market. Cardiology devices such as pacemakers and implantable loop recorders (ILR) account for the highest market share. Diagnostic imaging devices, commonly used for diagnosis, such as computer tomography (CT) scanners and magnetic resonance imaging (MRI) scanners follow closely. Together, these two categories account for over a quarter of the country’s market.When it comes to companies, the multinational Werfen leads the local industry. Founded in Barcelona, the company’s focus is specialized diagnosis in areas such as hemostasis, transplants, and transfusions. Global players operating in the Spanish medtech market include multinational corporations such as the American-Irish Medtronic and the Swiss Roche Diagnostics.
A net importer of health equipment
Spain is a net importer of health equipment. In fact, the country is one of the Western European nations with the highest trade deficit within the sector, a deficit that has been increasing in recent years and that is driven mainly by imports from other European nations. According to a survey carried out in 2021, the top barriers to exporting medical technology from Spain are mainly financial and bureaucratic constraints, such as homologation and registry procedures, prices, and tariffs. Like the local industry and market, however, the medtech export segment has also been expanding. With current innovations such as the incorporation of artificial intelligence (AI) in the health sector, and an aging population, these trends are likely to continue in the coming years.
