Netherlands Diagnostic Imaging Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Netherlands Diagnostic Imaging Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Netherlands Diagnostic Imaging Equipment Market is poised to grow at a CAGR of 5.4% during the forecast period.

The impact of COVID-19 in its initial phase was adverse owing to cancellations of elective procedures including all types of diagnosis. For instance, an article titled "Fewer Cancer Diagnoses During COVID-19 Outbreak in The Netherlands" published in the European Society for Medical Oncology in May 2020 stated that the country reported a significant decrease in cancer diagnoses since the COVID-19 pandemic began. Most of the general practitioner consultations for non-acute issues were switched to telehealth. Therefore, a general practitioner postponed initial examinations for symptoms that were not immediately associated with a potential cancer diagnosis, which led to delays in further diagnostic referrals. However, the market gained traction as elective procedures were resumed. Therefore, COVID-19 had an adverse impact on the studied market.

In addition, the rise in the prevalence of chronic diseases, technological advancement in imaging modalities, and the increasing geriatric population are actively affecting the growth of the studied market.

According to the International Diabetes Federation, in 2020 the total cases of diabetes in adults in Netherland were 1,019,100. Therefore, the demand for diagnostic imaging equipment is influenced by the increase in incidences of chronic diseases and hence, the market is expected to grow at a faster pace.

Moreover, according to the World Bank, in 2021, population aged 65 years and above was 3.5 million that accounted for 20.5% of total population in Netherlands. The geriatric population in the country is expected to be growing at an average annual rate of 1.41%. The geriatric population is more prone to chronic diseases and hence the high prevalence of this population is expected to boost the demand for diagnostic imaging equipment market in the country.

​Additionally, the advancements in technology and increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in February 2021, Philips made a multiyear strategic partnership for connected care solutions with 28-hospital of the Dutch SAZ (Association of Collaborating General Hospitals). The collaboration is projected to encompass the monitoring, observation and self-management of patients throughout their care journey, both inside and outside the hospitals, supported by Philips advanced patient monitoring solutions. Such collaborations between the healthcare institution and key market player is likely to bolster the use of diagnostic imaging equipment for the management of various chronic diseases and ultimately projected to boost the market growth.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, expensive procedures and equipment and side effects of diagnostic imaging are likely to impede the market growth.

Key Market TrendsOncology Segment is Expected to Witness Growth Over the Forecast Period

Diagnostic imaging plays a vital role in interventional oncology as well as in chemotherapy and radiation therapy. Computed tomography is a highly beneficial and preferred imaging method for many conditions, including trauma patients. Positron emission tomography (PET) and single photon emission computed tomography (SPECT) are also in cancer diagnostic imaging. There are also hybrid medical devices such as PET/CT or PET/MRI.

According to the Netherlands, Country Health Profile 2021 report, an estimated 110,000 people in the Netherlands were expected to be diagnosed with cancer in 2020, of which 61,755 new cases were predicted in males and 52,846 new cases were predicted in females. Prostate cancer accounted for 24% of all cancer cases while colorectal cancer accounted for 16% of all cancer cases in men. In contrast, breast cancer accounted for 30% of all cancer types in females in 2020. The country's high burden of cancer cases is projected to augment the segment growth in the coming years.

Furthermore, the funding by the government to expedite research and development in the oncology segment is projected to boost the demand for the market segment. For instance, in April 2022, the Netherlands announced investing EUR 325 million in preclinical cancer drug development. The Dutch National Growth Fund aims to use the funding to offer specialized capabilities that aid biotechs in hastening the development of oncology prospects. These initiatives by the government are likely to bolster the demand for oncology diagnostic imaging equipment which is projected to augment the segment growth in the country during the forecast period.

Competitive Landscape

The Netherlands diagnostic imaging equipment market is moderately fragmented in nature due to the presence of many companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Some of the key market players are Canon Medical Systems Corporation, Carestream Health Inc., Esaote SpA, FUJIFILM Holdings Corporation, GE Healthcare, Mindray Medical International Limited, Hologic Corporation, Koninklijke Philips NV, Shimadzu Medical, and Siemens Healthineers among others.

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