Market Size of Netherlands Cardiovascular Devices Industry
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 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 Size Summary
The Netherlands cardiovascular devices market is poised for significant growth over the forecast period, driven by an increase in cardiovascular diseases and advancements in technology. The market experienced a temporary setback due to the COVID-19 pandemic, which led to a reduction in cardiac surgeries and, consequently, a decreased demand for cardiovascular devices. However, the easing of restrictions and the resumption of surgical procedures are expected to boost demand. The prevalence of conditions such as high cholesterol and chronic cardiovascular diseases among the Dutch population is contributing to the rising need for heart surgeries and related devices. Technological innovations, such as the promising results from AMT Medical's ELANA Heart Bypass Solution, are further propelling market expansion.
The market is characterized by a strong focus on minimally invasive procedures and remote cardiac monitoring, driven by the increasing geriatric population and the demand for advanced monitoring solutions. The catheter segment, in particular, is expected to see robust growth due to the rising cases of cardiac arrhythmias and the demand for antimicrobial catheters. Key players in the market, including Abbott Laboratories, Boston Scientific Corporation, and Medtronic PLC, are actively engaging in strategic acquisitions and product launches to enhance their offerings. The consolidation of the market with major players dominating specific segments underscores the competitive landscape, with ongoing innovations and collaborations shaping the future growth trajectory of the Netherlands cardiovascular devices market.
Netherlands Cardiovascular Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Burden of Cardiovascular Diseases
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1.2.2 Growing Preference for Minimally Invasive Procedures
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Policies and High Cost of Instruments and Procedures
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Value in USD)
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2.1 By Device Type
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2.1.1 Diagnostic and Monitoring Devices
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2.1.1.1 Electrocardiogram (ECG)
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2.1.1.2 Remote Cardiac Monitoring
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2.1.1.3 Other Diagnostic and Monitoring Devices
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2.1.2 Therapeutic and Surgical Devices
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2.1.2.1 Cardiac Assist Devices
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2.1.2.2 Cardiac Rhythm Management Device
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2.1.2.3 Catheter
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2.1.2.4 Grafts
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2.1.2.5 Other Therapeutic and Surgical Devices
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Netherlands Cardiovascular Devices Market Size 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.