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Spain's Pharma Landscape - Growth & Innovation Insights

Explore Spain's dynamic pharmaceutical market, where opportunities abound and innovation flourishes! Our comprehensive infographic explores the regulatory framework, market overview, and prominent stakeholders shaping Spain's pharmaceutical sector.

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Spain's Pharma Landscape - Growth & Innovation Insights

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  1. Spain: A Growing Pharmaceutical Market

  2. Spain has a universal national health system that provides varying degrees of coverage for medication costs, depending on the patient's age, health condition, and employment status Spain has, the 4th largest pharmaceutical market in Europe in terms of revenue and the 9th largest worldwide. In 2022, Spanish pharmaceutical firms set a new investment record of nearly 1.4 bn euros, with almost half dedicated to collaborative research projects In 2022, the pharmaceutical industry emerged as the 3rd largest sector in Spain's exports, boasting over $26.8 Bn in sales abroad, marking a 53% increase from the previous year According to the proposal for open strategic autonomy endorsed by the Spanish Presidency of the Council of the European Union in the second half of 2023, the innovative pharmaceutical industry is recognized as one of the four strategic industrial sectors, alongside energy, food, and digital technologies, prioritized in Europe

  3. Spain's Economic Landscape: A Closer Look at GDP, Population, and Healthcare Spending Spain Healthcare Expenditure per Capita (in $) Spain Population (in Mn) Spain GDP (in $Tn) 2376 2524 2741 2712 2900 2926 46.48 46.59 46.79 47.13 47.36 47.41 47.77 48.08 $1.23 $1.31 $1.42 $1.39 $1.28 $1.45 $1.42 2016 2016 2016 2017 2017 2017 2018 2018 2018 2019 2019 2019 2020 2020 2020 2021 2021 2021 3602 2022 2022 2022 4432 $1.96 2023 2023 2023

  4. Spain Pharmaceutical Market Overview (In $ Bn) Did you know? The Spain Pharmaceutical market is projected to hit $15.03 Bn in revenue by 2024, with an estimated compounded annual growth rate of 5.56% (CAGR 2024-2030), reaching $20.79 Bn by 2030! CAGR 37% $20.79 $19.69 $18.66 17.67 16.74 $15.86 $15.03 2024 2025F 2025F 2025F 2025F 2025F 2025F

  5. Regulatory Landscape 4 Different Authorization Procedures The Spanish Agency for Medicines and Health Products (AEMPS), a state agency under the Ministry of Health, ensures the quality, safety, efficacy, and proper information dissemination of medicines and healthcare products National procedure: Applicant submits to the AEMPS the dossier with all the information for the marketing authorization of the drug in Spain Decentralized procedure: Applicant submits its application for authorization simultaneously in several countries of the European Union It has exclusive authority to approve, license, and monitor the safety, efficacy, quality, and compliance of pharmaceutical and medicinal products across Spain Mutual Recognition Procedure: It is used when a drug already has a Community marketing authorization Additionally, it regulates and authorizes clinical trials in accordance with the European Medicines Agency (EMA) It is also authorized to disclose non-public information to US FDA for pre-marketing and post-marketing activities of AEMPS- regulated drugs Centralized procedure: Applicant applies for an authorization for all EU Member States at the same time

  6. Major Market Players

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