May 17, 2020

Big Pharma vs. MedTech in Spain - Which Industry Will Come Out on Top in 2020?

pharma
MedTech
big pharma
spain
Admin
2 min
With the Spanish Constitution in 1978, the current flag of Spain was designated the official national flag of Spain.
Austerity measures implemented by the Spanish government have negated the effect of key drivers behind the countrys pharmaceutical market, resulting in...

Austerity measures implemented by the Spanish government have negated the effect of key drivers behind the country’s pharmaceutical market, resulting in a contracting market between 2008 and 2020, says research and consulting firm GlobalData.

However, the company’s latest report states that factors, such as an aging population and free health care service, will help drive an overall expansion of the country’s health care market over the next six years.

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According to GlobalData, Spain’s medical devices space was worth approximately $7.1 billion in 2008 and increased to around $8.5 billion in 2013, at a Compound Annual Growth Rate (CAGR) of 3.4 percent. It is expected to reach $12 billion by 2020, representing a CAGR of 5 percent.

The in vitro diagnostics and diabetic care device segments were the largest contributors to Spain’s medical device market in 2013. Other major segments included orthopedic, cardiovascular and ophthalmic devices.

Joshua Owide, GlobalData’s Director of Healthcare Industry Dynamics, says: “Spain’s medical devices sector is benefiting significantly from the increase in electronic health services and a strong medtech industry. However, new drug pricing policies and the promotion of generics as a cost-containment tool are severely limiting the country’s pharmaceutical market growth.

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“The government’s new policies, introduced in 2011 and 2012, require drug manufacturers to price their products lower than the reference price, and it is now mandatory for pharmacists to dispense the cheapest available drugs to patients, further impacting pharmaceutical market value.”

GlobalData states that due to these strict regulations to contain costs by 2020, the Association Européenne des Spécialités Pharmaceutiques Grand Public (AESGP) reported a decline in Spain’s pharmaceutical market revenues, from $29 billion in 2008 to $24 billion in 2013, at a negative CAGR of 3.7 percent.

The market’s value is expected to decrease even further to $22.6 billion by the end of the forecast period, representing a negative CAGR of 0.9 percent.

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Jun 18, 2021

Skin Analytics wins NHSX award for AI skin cancer tool 

AI
NHS
skincancer
Cancer
2 min
Skin Analytics uses AI to detect skin cancer and will be deployed across the NHS to ease patient backlogs

An artificial intelligence-driven tool that identifies skin cancers has received an award from NHSX, the NHS England and Department of Health and Social Care's initiative to bring technology into the UK's national health system. 

NHSX has granted the Artificial Intelligence in Health and Care Award to DERM, an AI solution that can identify 11 types of skin lesion. 

Developed by Skin Analytics, DERM analyses images of skin lesions using algorithms. Within primary care, Skin Analytics will be used as an additional tool to help doctors with their decision making. 

In secondary care, it enables AI telehealth hubs to support dermatologists with triage, directing patients to the right next step. This will help speed up diagnosis, and patients with benign skin lesions can be identified earlier, redirecting them away from dermatology departments that are at full capacity due to the COVID-19 backlog. 

Cancer Research has called the impact of the pandemic on cancer services "devastating", with a 42% drop in the number of people starting cancer treatment after screening. 

DERM is already in use at University Hospitals Birmingham and Mid and South Essex Health & Care Partnership, where it has led to a significant reduction in unnecessary referrals to hospital.

Now NHSX have granted it the Phase 4 AI in Health and Care Award, making DERM available to clinicians across the country. Overall this award makes £140 million available over four years to accelerate the use of artificial intelligence technologies which meet the aims of the NHS Long Term Plan.

Dr Lucy Thomas, Consultant Dermatologist at Chelsea & Westminster Hospital, said: “Skin Analytics’ receipt of this award is great news for the NHS and dermatology departments. It will allow us to gather real-world data to demonstrate the benefits of AI on patient pathways and workforce challenges. 

"Like many services, dermatology has severe backlogs due to the COVID-19 pandemic. This award couldn't have come at a better time to aid recovery and give us more time with the patients most in need of our help.”

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