Netherlands Cardiovascular Diseases Therapeutics Market Analysis

Netherlands Cardiovascular Disease Therapeutics Market Executive Analysis

The Netherlands cardiovascular disease therapeutics market size is at around $423 Mn in 2022 and is projected to reach $767 Mn in 2030, exhibiting a CAGR of 7.72% during the forecast period. The Netherlands excels at offering universal healthcare and still holds a strong seventh-place ranking in terms of fiscal sustainability. The nation's national solvency ranks 15th with a 52.5 % debt-to-GDP ratio, which is feasible. In addition, the Dutch have kept state healthcare spending low by relying on universal private insurance(6th). Over the past ten years, The Netherlands has been able to maintain a relatively stable level of public healthcare spending as a %age of GDP. The Netherlands, which ranks fifth overall in the Index, also places high importance on advances in science and technology. Its ranking is mainly influenced by the widespread adoption of health digitization among all provider types. Furthermore, the Netherlands is ranked sixth for scientific discoveries and has a sizable corpus of widely-cited work in the fields of biochemistry, genetics, and molecular biology.

Overall, the Netherlands is ranked 10th for Quality. Although there is space for improvement in some areas, such as the treatment of cancer, it scored highest in the Index for cardiovascular survival. According to the most recent WHO statistics, 17,601 deaths from coronary heart disease (CHD), or 13.87% of all deaths, occurred in the Netherlands in 2020. The Netherlands is ranked #175 in the globe with an age-adjusted death rate of 38.44 per 100,000 people. Similar to other Western societies, the incidence, hospitalization, case-fatality, and mortality rates of CHD have significantly declined in the Netherlands over the past few decades. Improvements in medical care and favourable changes in modifiable cardiovascular risk factors, which can be achieved by increasing the use of cardiovascular drugs, revascularization procedures, and improvements in living, may be responsible for decreases in CHD mortality.

Molecular and cellular mechanisms of the disease are now better-understood thanks to recent advances in biomedical research, which also brought effective and safer gene therapy vectors for the creation of next-generation advanced therapy medicinal products (ATMPs) for cardiovascular disease (CVD). The CardioReGenix initiative, which is supported by the EU, concentrates on technological advancements for the treatment of myocardial ischemia and heart failure. By leveraging solid preliminary data and multi-disciplinary consortium expertise in vector development, preclinical and clinical cardiology, business development, and clinical translation, the objective is to surmount barriers to CVD gene therapy.

Philips NV, which has a sizable medical equipment division, is the biggest innovative healthcare company in the Netherlands. Additionally, a sizable early-stage biotechnology sector is located in the Netherlands. Mid-sized pharmaceutical firm Organon was acquired by Merck after being sold to American business Schering-Plough in 2007.

Market Dynamics

Market Growth Drivers

More effective treatments for cardiovascular diseases are nowadays accessible through the development of new medicines and medical equipment. This has led to an upsurge in demand for these therapies, which is driving the market's development. The prevention and treatment of cardiovascular diseases have been enhanced through numerous efforts approved out by the Netherlands government. In order to advance awareness and improve access to care, this has included the formation of national standards for the diagnosis and treatment of cardiovascular diseases. The Netherlands has made a tag for itself as a significant nation to invest in the areas of molecular biology, genetics, and biochemistry. This relates to the Netherlands' cardiovascular disease therapeutics market growth.

Market Restraints

The Netherlands' healthcare system is extremely structured, and stringent cost-containment guidelines are in place to retain healthcare costs under the switch. This may restrict the accessibility and coverage of some therapeutics for cardiovascular diseases.  The pharmaceuticals market in the Netherlands is competitive, which may place a burden on charges. Because of this, the creation of innovative treatments for cardiovascular diseases may be inhibited in its capability to be profitable. Although lifestyle factors, such as the rising incidence of risk factors, are some of the growth drivers for the Netherlands cardiovascular disease therapeutics market, they can also serve as a restraint. It may take some time for addressing these lifestyle variables to influence the prevalence of cardiovascular diseases.

Competitive Landscape

Key Players

• Philips (NLD)
• Kiadis Pharma (NLD)
• Synerkine Pharma (NLD)
• Northsea Therapeutics (NLD)
• Dannalab (NLD)
• AstraZeneca
• Merck
• Sanofi
• Novartis
• Daiichi Sankyo
• Takeda Pharmaceutical

Healthcare Policies and Regulatory Landscape

The old system was replaced by "managed competition" in the Netherlands, where several private insurers compete for market share on the premise of value and price. Insurance companies must accept all applicants and adhere to a minimal set of benefits, but they are also free to give additional benefits on top of the minimum set. Residents are required to purchase insurance and pay premiums equivalent to 6.5 % of their yearly income up to the first $32,000. Employers immediately deduct the premiums from employees' paychecks. Under this system of competition, insurers are in charge of managing the formularies for prescription drugs. The Netherlands Healthcare Institute (Zorginstituut Nederland) advises the Ministry of Health on coverage choices, and some medications must be covered by that ministry. While insurers and manufacturers negotiate drug costs, and insurers can adjust drug deductibles based on value, the government protects against monopoly drug pricing by establishing price ceilings.