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

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

The Netherlands Pharmaceutical market studied was anticipated to show a moderate growth with a CAGR of 5.8%, during the forecast period. The presence of world-class research institutes, a highly educated workforce, an excellent healthcare system, and an innovation-friendly government, combined with a central location makes the country an ideal base for biopharmaceutical operations. Healthcare and medicine spending has increased in the past few years reflecting strong potential for new medicine development, infrastructure building, and new entry/expansion opportunities. While the government is taking various initiatives to lower the prices of pharmaceutical products which is expected to have adverse effects on the profitability of the pharmaceutical companies. Recently the Netherlands and Belgium are going to jointly negotiate lower drug prices with pharmaceutical companies.

According to the data published by the Neprofarm, as of 2018, there were in total approximately 2,400 drugstores in the Netherlands, of which roughly 670 were independent 1,700 were a franchise. Also, it has been observed that the number of drugstores is increasing n the country which is expected to supplement the growth of the market over the forecast period.

Key Market TrendsHealthcare Expenditure in Netherlands

Health spending in the Netherlands is increasing and it is the fourth-highest in the EU. This rise in the overall spending is mainly due to comparatively large long-term care expenditure. Over 80% of health spending is publicly funded, although the share of out-of-pocket spending has increased and become a topic for public debate. According to the data published by the Centraal Bureau voor de Statistiek, in 2015 the total healthcare expenditure per capita in the Netherlands was EUR 5,450, while this has increased to EUR 5,805 in 2018. Also, the Netherlands has a very accessible healthcare system that provides high-quality care. In the Netherlands, public healthcare is funded through health insurance premiums, which are paid monthly to insurance companies. While there are two main forms of statutory health insurance in the Netherland Zorgverzekeringswet (Zvw) and Wet langdurige zorg (Wlz). Thus, owing to the presence of a better healthcare system in place it is expected that in the coming years the expenditure on healthcare is expected to rise.

Cardiovascular System segment Holds the Largest Share and Expected to do Same in the Forecast Period

The cardiovascular system segment is expected to hold the largest market share by volume in 2018 in the Netherlands. According to the data published by the Statistics Netherlands (CBS), in 2018, the number of deaths in the Netherlands stood at 153 thousand. Around 25% of mortality was due to cardiovascular diseases and 1 percent to influenza. However, despite the aging population and the high CVD prevalence, both the absolute and relative numbers of Dutch persons dying from cardiovascular diseases have been declining. Furthermore, cardiovascular conditions are no longer the leading cause of death in the Netherlands but, there is a huge consumption of the drugs for this disease category and hence it is expected that there will be steady growth in the market.

Competitive Landscape

The Netherlands pharmaceutical market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the Key companies which are currently dominating the market are Abbott Laboratories, AbbVie Inc., Amgen Inc., Astellas Pharma, AstraZeneca Plc, F. Hoffmann-La Roche AG, Johnson & Johnson, Merck & Co., Novartis AG, and Pfizer Inc.

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• The market estimate (ME) sheet in Excel format
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