The report helps businesses gain a unique insight into the socio-economic dynamics, and helps analyze how they affect healthcare systems and their evolution. It can serve as a valuable tool with actionable guidance for sales, marketing, R&D and business managers with industry related interests.
Four chapters cover the numerical and written analysis for the following topics: Economic Outlook (38 Key industry indicators), The Healthcare System (HC system structures), Reforms (restructuring, re-engineering or austerity efforts) and the Healthcare Market (Capital Equipment, Medical Devices, Disposables and Pharmaceuticals).
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– Spain has a nominal GDP of €1,081 bn, equal to €23,309 per capita, with a population of 46.4m. Spain has pulled out strongly since 2013-2014 from its negative growth rate and is currently enjoying one of the higher GDP growth rates.
– Inflation in 2015 reached -0.5%, yet is expected to reach positive inflation by 2017, with 1%.
– Spain has one of the highest budget deficits in Europe, in part still recovering from bailing out Spanish banks in 2012. It has been hesitant to implement cutbacks, not wanting to halt its economic recovery.
– Overall the economic outlook is positive and promising, though structural inefficiencies remain inherent. Economic reviews must be made to ensure the sustainability of its growth, and in order to continue carrying its substantially large dependent population.
The Healthcare System:
– Healthcare authorities are highly decentralized and the organization of provisions is largely delegated to regional governments. In most regions, local healthcare departments buy additional services from the private sector in order to manage accessibility and waiting list issues.
– Healthcare spending as a percentage of GDP in 2015 was 9%, equivalent to €2,100 per capita, and €97,42 bn in total. Healthcare spending per capita decreased from 2011 (€2,170) to 2015, but is forecasted to reach above 2011 levels by 2017 (with €2,245).
– Private out-of-pocket spending has also been increasing, reaching 78% in 2015 and expected to continue rising gradually.
– In broad terms, in the Spanish healthcare financing mechanism: money follows the patient; the patient may select which provider to turn to.
– PPPs are very popular in healthcare organization; the most common type of partnership is where service contracts are granted to private hospitals by the public entity.
– The main characteristics of recent healthcare reforms are:
– Cost sharing for pharmaceuticals, prostheses and ambulance services
– Reduction of salaries and staff
– No free healthcare for unregistered foreigners
– Cost cutting targets assigned to the 17 Autonomous Regions (partial privatization and outsourcing)
– Healthcare expenditures in Spain had to be cut by around €7 bn, i.e. 7.4%. Further budget cuts are expected.
– Spain represents the 15th largest medtech market and consumer worldwide, and one of the largest markets in the Eurozone.
– Group purchasing and non-clinical procurement experts are gaining greater decision-making authority in purchasing processes.
– Spain has one of the lowest shares in the EU of generic pharmaceuticals in its market.
– In 2015 the pharmaceutical market in Spain was valued around €17.5 bn. From the total public expenditure, pharmaceutical spending equals around 18.4%.
– The medical device market in Spain in 2015 is valued around €9 bn. It is estimated that it will grow by approximately 4% annually in the following 4 years (until 2020).
Includes tables centralizing all relevant data on socio-demographics, macroeconomics and national Healthcare.
National Care Provision data:
Provides an overview of the Healthcare demographics: Nation Care provision data, Intensive Care units, Operating rooms, Emergency Rooms, Hospital services, Healthcare professionals.
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