The turnover for the medical and dental instruments and supplies sector in Spain has displayed a generally upward trend from 2013 to 2023. The sector stood at 2.17 billion euros in 2023, marking its steady progression. Looking back, fluctuations were observed with the turnover recovering swiftly from a decrease in 2013. Notably, significant year-on-year growth rates occurred in 2014, 2015, and 2018, with marked growth rates of 7.03%, 8.04%, and 8.65% respectively.
However, the turnover saw a slight dip in 2020 due to a multitude of external factors which was quickly stabilized. Over the last two years leading to 2023, the sector experienced modest growth rates of 1.76% and 1.72% for 2022 and 2023 respectively. The compound annual growth rate (CAGR) over the past five years was 1.67%.
Forecasts from 2024 to 2028 predict continued growth but at a more measured pace. The forecasted CAGR for the next five years stands at 1.26%, with an overall growth rate of 6.47% expected by 2028. Future trends to watch for include innovations in medical technology, potential shifts in healthcare policies, and the evolving demands of the aging population, all of which could impact the market dynamics significantly.
