Netherlands Cardiovascular Devices Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 686.27 Million |
| Market Size (2029) | USD 900.33 Million |
| CAGR (2024 - 2029) | 5.58 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Netherlands Cardiovascular Devices Market Analysis
The Netherlands Cardiovascular Devices Market size is estimated at USD 686.27 million in 2024, and is expected to reach USD 900.33 million by 2029, growing at a CAGR of 5.58% during the forecast period (2024-2029).
The COVID-19 pandemic impacted the growth of the Netherlands' cardiovascular devices market. For instance, an article published by the Netherlands Heart Journal in February 2021 reported that an online survey was conducted among the four Dutch hospitals, which reported a 25.7% reduction in cardiac surgeries from April 2020 to July 2020, as compared to the previous year. Thus, the reduction in cardiac surgery in many hospitals in the Netherlands reduced the demand for cardiovascular devices, thereby impacting the growth of the studied market. However, in the current scenario, it is anticipated that the reduction in COVID-19 cases has led to the ease of government restriction. As a result, the resumption of cardiovascular surgical procedures may increase the demand for cardiovascular devices over the forecast period.
The major factors driving the growth of the studied market in the Netherlands are due to increasing cases of cardiovascular diseases, and technological developments. A report published by the European Survey of Cardiovascular Diseases in July 2022 reported that 36% of 18–34-year-olds recognized high cholesterol as a risk factor, compared with over twice as many of those aged above 55 years. A high percentage of the young population in the Netherlands are living with high cholesterol, which may increase the risk of heart diseases like heart attack, which may increase the demand for heart surgeries.
Similarly, another article published by the European Call for Innovative Treatments in Cardiovascular Diseases (CARDINNOV) in January 2023 reported that in the Netherlands, there are about 1.5 million people with chronic cardiovascular disease. These are all conditions that affect the heart and/or blood vessels. Thus, such instances may lead to increased demand for cardiovascular devices in the country.
Furthermore, the technological development procedures are also driving the growth of the studied market. For instance, in October 2022, AMT Medical, a clinical-stage medical device company based in the Netherlands, showed a promising result for the ELANA Heart Bypass Solution. Thus, such developments are driving the growth of the studied market.
Thus, due to the increasing cases of cardiovascular diseases and technological developments, the studied market is expected to witness high growth over the forecast period. However, stringent regulatory policies and the high cost of instruments and procedures may slow down the growth of the studied market.
Netherlands Cardiovascular Devices Market Trends
Catheter is Expected to Witness Growth Over the Forecast Period.
A catheter is a thin, flexible tube that is guided through a blood vessel to the heart to diagnose or treat certain heart conditions, such as clogged arteries or irregular heartbeats. The segment is expected to observe good growth due to the increasing burden of CVDs, increasing usage of minimally invasive procedures, and the rising demand for antimicrobial catheters.
The article published in the European Journal of Heart Failure in June 2021 stated that the estimated prevalence of heart failure in the Netherlands based on healthcare claims data of over 2 million inhabitants was 5.1% for both men and women. The high burden of heart-related diseases is expected to augment the segment's growth in the coming years.
Moreover, the increasing cases of cardiac arrhythmias (irregular heartbeat) in the country are also fueling the growth of this segment. For instance, in March 2022, an article published by the National Centre for Biotechnology Research reported that about 2% of the population in the Netherlands are living with 1 or more cardiac disorders, with a high prevalence of cardiac arrhythmia. A catheter is inserted through a blood vessel into the heart to diagnose or treat certain heart conditions, such as clogged arteries or arrhythmia. Thus, high cases of arrhythmias are expected to increase the demand for catheters, thereby driving the growth of this segment.
Furthermore, the key market players have adopted strategies such as acquisition are fueling the segment's growth over the forecast period. For instance, in June 2023, Translumina acquired Blue Medical Devices, based in the Netherlands. This acquisition will help the company improve its product portfolio for innovative baskets of balloon catheters and other specialty balloons for complex coronary interventions. Thus, owing to the growing demand for minimally invasive surgeries and technological advancements, there is a growth in the catheter segment of the studied market.
Remote Cardiac Monitoring by Diagnostic Segment is Expected to Witness Significant Growth Over the Forecast Period.
Remote cardiac monitoring (RCM), or remote heart monitoring, is a method by which information from a patient's implantable rhythm management device can be communicated directly to a physician's office. The high adoption of RCM in the Netherlands, the rising geriatric population, and new products are driving the growth of this segment.
The high adoption of RCM in recent years in the Netherlands is driving the growth of this segment. For instance, an article published in the journal The Lancet Digital Health in April 2022 reported the surge in demand for RCM in the Netherlands during 2020. The article quoted that RCM played a significant role in managing patients' cardiac records when hospitals and various healthcare services were closed. Thus, the increasing adoption of cardiac devices to monitor cardiac health is driving the growth of this segment.
Moreover, the increasing geriatric population is more prevalent in various CVDs, and the increasing geriatric population in the country is driving the growth of the studied market in the country. For instance, in July 2022, the United Nations reported that 3.5 million population in the Netherlands are aged 65 and above, and this number is expected to increase by 4.5 million by 2040. Thus, the increasing geriatric population is more prevalent in various CVDs, which is increasing the demand for RCM devices and contributing to this segment's growth.
Furthermore, collaborations and new product launches are driving the growth of the studied market. For instance, in March 2022, Biotronik received the CE approval for HeartInsight, its remote heart failure (HF) management device that accurately identifies patients at higher risk of HF decompensation early on. Compared to other available solutions, HeartInsight provides the earliest notification, median advance notice of 42 days before an impending HF hospitalization, which allows clinicians to proactively care for their patients. Thus, such device launches are driving the growth of this segment. Thus, due to the increasing adoption of RCM in the Netherlands, the increasing geriatric population and new product launches are driving the growth of this segment over the forecast period.
Netherlands Cardiovascular Devices Industry Overview
The Netherlands cardiovascular devices market is consolidated due to the presence of a few companies working globally and regionally. The major players have established themselves in specific segments of the market. Some players currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Cardinal Health Inc, Biotronik, Siemens Healthineers AG, Phillips Healthcare, Nihon Kohden Corporation, and GE Healthcare.
Netherlands Cardiovascular Devices Market Leaders
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Abbott Laboratories
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Boston Scientific Corporation
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Medtronic PLC
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Cardinal Health Inc
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GE Healthcare
*Disclaimer: Major Players sorted in no particular order
Netherlands Cardiovascular Devices Market News
- August 2022: Medtronic launched a drug-eluting coronary stent, the Onyx Frontierdrug-eluting stent (DES), following recent CE Mark approval. The Onyx Frontier DES offers an innovative delivery system and builds upon the acute performance and clinical data from the Resolute Onyx drug-eluting stent. The device is available in the entire Europe including Germany.
- March 2022: Cathi Distribution GmbH, a company specializing in endovascular simulators, launched the Cathis RHC 2, the company’s next-generation suitable heart catheter (RHC) simulator, in many countries of Europe, including the Netherlands.
Netherlands Cardiovascular Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Cardiovascular Diseases
4.2.2 Growing Preference for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies and High Cost of Instruments and Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Value in USD)
5.1 By Device Type
5.1.1 Diagnostic and Monitoring Devices
5.1.1.1 Electrocardiogram (ECG)
5.1.1.2 Remote Cardiac Monitoring
5.1.1.3 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic and Surgical Devices
5.1.2.1 Cardiac Assist Devices
5.1.2.2 Cardiac Rhythm Management Device
5.1.2.3 Catheter
5.1.2.4 Grafts
5.1.2.5 Other Therapeutic and Surgical Devices
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boston Scientific Corporation
6.1.3 Medtronic PLC
6.1.4 Cardinal Health Inc
6.1.5 Biotronik
6.1.6 Siemens Healthineers AG
6.1.7 Phillips Healthcare
6.1.8 Nihon Kohden Corporation
6.1.9 GE Healthcare
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Netherlands Cardiovascular Devices Industry Segmentation
As per the scope of the report, cardiovascular diseases are a group of disorders of the heart and blood vessels that include coronary heart disease, peripheral arterial disease, congenital heart disease, and cerebrovascular disease. Cardiovascular devices are used to treat or prevent different cardiovascular conditions. The Netherlands cardiovascular devices market is segmented by device type (diagnostic and monitoring devices (e.g., electrocardiogram (ECG), remote cardiac monitoring, and other diagnostic and monitoring devices)) and therapeutic and surgical devices (cardiac assist devices, cardiac rhythm management devices, catheters, grafts, and other therapeutic and surgical devices).
The report offers the value (in USD) for the above segments.
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Netherlands Cardiovascular Devices Market Research FAQs
How big is the Netherlands Cardiovascular Devices Market?
The Netherlands Cardiovascular Devices Market size is expected to reach USD 686.27 million in 2024 and grow at a CAGR of 5.58% to reach USD 900.33 million by 2029.
What is the current Netherlands Cardiovascular Devices Market size?
In 2024, the Netherlands Cardiovascular Devices Market size is expected to reach USD 686.27 million.
Who are the key players in Netherlands Cardiovascular Devices Market?
Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Cardinal Health Inc and GE Healthcare are the major companies operating in the Netherlands Cardiovascular Devices Market.
What years does this Netherlands Cardiovascular Devices Market cover, and what was the market size in 2023?
In 2023, the Netherlands Cardiovascular Devices Market size was estimated at USD 647.98 million. The report covers the Netherlands Cardiovascular Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Netherlands Cardiovascular Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Netherlands Cardiovascular Devices Industry Report
Statistics for the 2024 Netherlands Cardiovascular Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Netherlands Cardiovascular Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
