Market Trends of Netherlands Cardiovascular Devices Industry
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.
