The Netherlands in vitro diagnostics market is expected to register a CAGR of approximately 5.28% over the forecast period. The major factors that are fueling this market include a rapid increase in chronic diseases, increasing demand for point-of-care testing and personalized medicine, and technological advances, along with the rising geriatric population in the country.
- As per a report of the National Institute of Health (NIH), incidences and prevalence of chronic diseases are rapidly increasing across the world, and chronic diseases are currently affecting more than 14 million people around the world. Furthermore, according to the World Health Organization, the prevalence rate of the overweight population in the Netherlands was 67% for men and 59% for women in 2016, and this rate is expected to increase in the coming years.
- According to the European Diagnostic Manufacturers Association (EDMA), the cost of IVDs is less than EUR 21 per person per year. In addition, patients can deal with their conditions better with the help of IVDs (diabetic patients can use portable blood glucose monitors on a regular basis to determine their blood glucose level). Therefore, the demand for IVD products is influenced by the increase in incidences of chronic diseases. As the demand for IVD is increasing, the market is growing at a faster pace.
Key Market Trends
The Molecular Diagnostics Segment is Expected to Register a Good CAGR Over the Forecast Period
Molecular diagnostic devices are used to analyze biological markers in the genome and proteome to detect pathogens or mutations. On the basis of technology used, molecular diagnostic devices can be segmented into chips and microarrays, mass spectroscopy, next-generation sequencing (NGS), polymerase chain reaction (PCR)-based methods, cytogenetics, and molecular imaging.
Factors, such as large outbreaks of bacterial and viral epidemics in the Netherlands, increasing demand for point-of-care diagnostics, and rapidly evolving technology, are driving the growth of the molecular diagnostics segment.
The Netherlands in vitro diagnostics market is moderately competitive, with several key players, such as Roche Diagnostics, Abbott Laboratories, Bio-Rad Laboratories Inc., Danaher Corporation, and Thermo Fisher Scientific Inc., holding a large share of this market. However, with the help of product innovation and technological advances, there is a possibility of new players entering the market in the future.
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