The Netherlands Artificial Organs & Bionic Implants Market is expected to grow with a CAGR of 11.58% during the forecast period. The growth of the market can be attributed to the increasing prevalence of disabilities and organ failures and rising healthcare expenditure. Furthermore, the technological advancements and growing awareness of bionics and artificial organs is further boosting the market growth.
In the Netherlands, ischemic heart disease is found to be the leading cause of death for a long time. Based on self-reported data from the European Health Interview Survey (EHIS), one in six people in the Netherlands lives with hypertension which is a major risk factor for cardiovascular disease. Cardiovascular diseases are thus found to have a major share in the deaths of the country that has increased cardiovascular disease patients. With the increase in cardiovascular disease patients, there is a high demand for cardiac bionics that helps in boosting the market growth.
Key Market Trends
Orthopedic Bionic Segment is Expected to Have a Significant Growth in the Forecast Period
The expected growth of the segment is attributed to the increasing number of road accidents and injuries requiring more amputations. Furthermore, the increasing geriatric population requiring, knee transplants, and other joint replacements are also boosting the segment growth.
According to 2020, Statistics Netherlands (Centraal Bureau Voor de Statistiek), in 2018, 678 people were killed on roads in the Netherlands and many have been disabled or severely injured due to the accidents. The total knee replacements and hip replacement surgeries that are taking place in a huge number in the country as the geriatric population is also increasing which is boosting the segment growth.
For instance, 29,370 total replacement surgeries had taken place in the Netherlands for the year 2017. Furthermore, the growing patient pool and the developing healthcare facilities and upcoming new players in the country are propelling the growth of the artificial organs & bionic implants market.
The Netherlands Artificial Organs & Bionic Implants Market is moderately competitive with several major players. Some of the strategies implemented include agreements, collaborative models, business expansion, and product developments. Some of the major players in the market are Orthofix International N.V, Boston Scientific Corporation, Otto Bock Holding GmbH & Co. KG, Medtronic plc , Reboocon Bionics B.V., Ossur hf.
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