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Netherlands Pharmaceuticals and Healthcare Report Q2 2010
Business Monitor International, Feb 2010, Pages: 78
Business Monitor International's Netherlands Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the Netherlands' pharmaceuticals and healthcare industry.
Despite a compound annual growth rate (CAGR) of 4.19% in local currency terms and 6.70% in US dollar terms from 2004-2009, BMI’s outlook for the Netherlands’ drug market is less optimistic over the subsequent five years. From 2009-2014 a CAGR of -0.01% is projected in local currency terms (-2.12% in US dollar terms), largely as a result of the impending patent cliff and the subsequent consumption of lower-value generic drugs in place of high-value patented drugs.
BMI calculates that drug sales in the Netherlands reached a value of EUR6.00bn (US$8.45bn) in 2009. It is expected that in 2010 drug sales will reach EUR6.11bn (US$8.85bn), before declining to EUR6.08bn (US$8.57bn) as medicines start to lose intellectual property protection in 2011. By 2014, pharmaceutical expenditure in the Netherlands is expected to reach a value of EUR6.00bn (US$7.59bn). Over a longer 10-year period, the growing use of high-value biologics, in particular personalised medicines, will spur a return to growth in the Netherlands, with a CAGR of 1.68% in local currency terms and 0.47% in US dollar terms through to 2019. As a result, BMI calculates that drug sales in the Netherlands will reach a value of EUR7.09bn (US$8.86bn) by 2019.
In BMI’s Business Environment Ratings for Q210, the Netherlands has dropped one place to sixth out of the nine markets surveyed in the Western Europe region. Globally, the Netherlands is ranked 13th, above Spain and Brazil, but below the UK and Puerto Rico. The country’s strong and transparent regulatory framework means it scores strongly in terms of risk. The Netherlands’ attractiveness to pharmaceutical firms also stems from the fact that, as with the region’s other markets, the country is a key revenue source for ‘big pharma’, particularly for companies selling high-end products. However, drug companies will face many challenges in Western Europe over the next decade, including the patent cliff, the need to reduce fiscal deficits, added regulatory hurdles and increasingly scrupulous cost-effectiveness assessments of new drugs.
In companies news, multinational Philips Electronics has signed a deal with the largest health insurer in the Netherlands, Achmea (which has an approximate 30% share of the Dutch health insurance market) to focus on a home healthcare project that will help doctors monitor patients’ health remotely and equip them with devices to better manage conditions such as respiratory diseases at home. BMI commends the partnership, as BMI believes that use of technology to provide medical care remotely – telemedicine – is an important tool that can facilitate improved and more efficient provision ofhealth services. In-patient costs account for a large proportion of healthcare expenditure, therefore a reduction in the number of patients that receive on-site hospital care can lead to savings that would be welcomed by insurance companies as well as the country’s national health service, the Verplicht Ziekenfonds Verzekerd. Public sector health expenditure reached a value of EUR48.7bn (US$68.6bn) in 2009, accounting for 80.3% of total health expenditure.
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