Netherlands Neurology Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Netherlands Neurology Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Netherlands Neurology Devices Market is expected to grow with a CAGR of 4.4% during the forecasted period.

The COVID-19 pandemic has affected the neurology devices market in the Netherlands significantly. The treatment for neurological diseases faced several complications during the lockdown in the country. As per the article published in BioMed Central (BMC) Journal in January 2022 titled, 'Impact of the lockdown on acute stroke treatments during the first surge of the COVID-19 outbreak in the Netherlands,' approximately 14% decrease in the neurology treatment was observed during the year 2020-2021. This has affected the overall utilization of neurology devices in the Netherlands. However, a post-covid scenario in the country is different than that of the year 2020 as most of the elective surgeries are being performed in the country, as stated by the Department of Neurosurgery and Neurology, Radboud University Nijmegen Medical Center, Nijmegen, the Netherlands in January 2022. Hence, with the above-mentioned factors, it is observed that COVID-19 had a negative impact on the neurology devices market in the Netherlands.

The key factors propelling the growth of this market are an increase in the incidence of neurological disorders, huge investments by private players in neurology devices, and an increase in R&D in the field of Neurotherapy. According to the World Ageing 2021 report, the number of people who are above 65 years of age in the Netherlands was 2,618,874 in 2021 which is projected to reach 4.295 million (24.6%) in 2030. The number of geriatric population is expected to increase in coming years who are more prone to disorders such as cognitive impairment and dementia which ultimately rises the growth of the market in near future.

Thus, owing to the above factors the market is expected to show significant growth over the forecast period.

Key Market TrendsNeurostimulation Devices are Expected to Grow Fastest during the Forecast Period

The sacral nerve stimulation devices are mostly used for patients for whom drug therapy or other types of medications are not successful. It is performed with the help of a small device, which is capable of sending electrical impulses to the targeted sacral nerves located in the lower back region. According to Alzheimer's Europe report published in 2020, the number of people living with Alzheimer's disease in the Netherlands is expected to reach 75,899 in the age group 75-79 years. Whereas, it is expected to reach 136,534 people aged 80 years and above. The high prevalence of such neurological diseases is expected to boost segment growth over the forecast period.

As per the data from University Medical Center published in October 2021, one in four people in the Netherlands has a neurological and/or a psychological disorder. Hoofdzaken is an initiative of the Dutch Brain Foundation (Hersenstiching), MIND, and the Netherlands Organisation for Health Research and Development (ZonMw) for research into solutions that will allow these patients to live longer in good health. Owing to such initiatives in the country, awareness about neurological diseases has increased. Hence, the market studied is expected to witness strong growth due to presence of the organizations such as the Dutch Brain Foundation.

Thus, owing to the above factors the segment is expected to show significant growth over the forecast period.

Competitive Landscape

The Netherlands Neurology Devices Market is fragmented competitive. There are market participants involved in R&D for the development of advanced stimulation and neuromodulation techniques with minimally invasive procedures that are more preferable to the patients. Furthermore, many private companies are showing great interest in developing novel neurological devices to earn huge profits. In the coming years few other players are expected to enter into the market.

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