The increasing prevalence of chronic diseases among the geriatric population is driving the “Netherlands home healthcare market”. The above information is published in a report, titled “Netherlands Home Healthcare: Market Analysis, Insights and Forecast, 2019-2026.”Fortune Business Insights in the report predicts thatrising geriatric population in the Netherlands is leading to high demand for home healthcare equipment.
A study by Central Bureau Statistics (CBU), it is estimated that around 3.31 million people in the Netherlands are aged above 65 years. Also, the study predicts that the number will increase by 2026. This further indicates that the adoption of home healthcare products will increase in the forthcoming years.
As per the report by Fortune Business Insights, the Netherlands market was worth US$ 570.0 Mn in 2018 and is anticipated to reach US$ 1013.1 Mn by 2026. As home healthcare is a viable option and increasingly adopted by the elderly population, the market for home healthcare in the Netherlands is likely to exhibit a healthy CAGR of 7.6% during the forecast period.
Healthcare Equipment and Housing Supplies Have a Higher Preference Over Other Products
Among different products, healthcare equipment and housing supplies cover the maximum share in the Netherlands market. The demand for home healthcare services is increasing on account of the rising aging population in this country. Furthermore, demand for self-monitoring devices such as blood glucose monitors, blood pressure monitoring devices, heart rate monitoring devices, and pulse oximeters. In 2018, the segment covered a share of 52% and will continue to dominate the market in the Netherlands.
The second most leading segment is continence care in the Netherlands home healthcare market. The urinary continence is highly prevalent in the Netherlands. This is estimated to increase with the rise in the elderly population. Additionally, some research studies show that urinary continence is more common in women than men. Spurred by these factors, the demand for continence care products is likely to rise in the Netherlands.
Government-backed Support Regarding New Policies and Acts Propel the Market’s Growth
Under the Social Support Act, Dutch people who need home assistance can apply for a wheelchair from local authorities. These local authorities provide assistance to elderly people, autistic children, and families who require parenting support. The government in the Netherlands are heavily investing in several acts which include Long-term Care Act, the Health Insurance Act, among others. These acts predominantly take care of elderly people and offer medication and assistance they need. Such policies are expected to increase the adoption of home health solutions. Dutch people are increasingly spending on healthcare, which is another factor driving the market. As per the Ministry of Health, Welfare and Sport, healthcare expenditure is estimated to be approx. 77 Euro Billion each year. Rising healthcare expenditure is enabling growth in the market. In addition to this, the Netherlands government is planning to invest US$ 3376.0 Mn in 2019. This amount will be used to offer assistance, self-reliance, and care to elderly patients. All the above factors are expected to drive the Netherlands home healthcare market during the forecast period.
Some of the other companies operating in the Netherlands home healthcare market include
- Molnlycke Health Care,
- ConvaTec Group plc
- Melsungen AG
- Hollister Inc.
- Medline Industries Inc.
- Acelity L.P. among others.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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