The medical and pharma industry in Spain is quickly growing on a solid healthcare sector that’s a blend of public and private healthcare insurance. The public system accounts for over 70% of healthcare activity. In 2020, Spain's healthcare budget reached €122.8 billion, with an average per capita expenditure of €2,594. Though funding is allocated by the central government, healthcare administration is decentralized, handled by regional governments. This results in significant regional variations in healthcare spending across the country. The medical device market in Spain remains a key player in the country’s healthcare landscape. Estimated at $7.4 billion in 2021, this market encompasses consumables, diagnostic imaging, dental products, orthopedics, prosthetics, and other patient aids. Spain relies heavily on medical device imports, with total imports amounting to $6.3 billion in 2021. Approximately 60% of these imports come from within the European Union, with Germany and France as the primary suppliers. The United States also plays a significant role, accounting for an estimated 15-20% of imports, though a portion of these products are sourced from U.S. manufacturing facilities in other European countries. What has been good news for Spain’s medical and pharma industry is the gradual increase in exports, which have steadily increased over recent years. In 2021, medical device exports totaled $2.1 billion, while broader healthcare-related exports, including digital health and furniture, reached $4.4 billion. Around 50% of these exports go to EU countries, with Germany, Portugal, Belgium, France, and Italy among the top destinations. Spain’s healthcare and medical device sectors are characterized by the dominance of small and medium-sized enterprises (SMEs), which make up 90% of the market. These companies account for 40% of sales, while larger multinational firms—most of which are well-established U.S. and European brands—generate 60% of the sector’s revenue.