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Netherlands Pharmaceuticals and Healthcare Report Q1 2012
Business Monitor International, Nov 2011, Pages: 81
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 Netherlands's pharmaceuticals and healthcare industry.
BMI View: The Netherlands boasts a well-developed healthcare system and also an advanced pharmaceutical industry, which has attracted significant domestic and foreign investment over the years. Demographic and epidemiological needs of the country have similarly stimulated the use of patented drugs. However, strict pricing and reimbursement regimes will continue to pose downwards pressure on pharmaceutical market growth, especially during the patent cliff years.
Headline Expenditure Projections
- Pharmaceuticals: EUR5.90bn (US$7.83bn) in 2010 to EUR5.94bn (US$8.50bn) in 2011; +0.7% growth in local currency terms and +8.6% growth in US dollar terms. Forecast unchanged from Q411.
- Healthcare: EUR60.90bn (US$80.79bn) in 2010 to EUR62.94bn (US$90.00bn) in 2011; +3.3% growth in local currency terms and +11.4% growth in US dollar terms. Forecast down slightly from Q411 due to macroeconomic factors.
- Medical devices: EUR10.70bn (US$14.19bn) in 2010 to EUR11.09bn (US$15.86bn) in 2011; +3.6% growth in local currency terms and +11.7% in US dollar terms. Forecast unchanged from Q411.
Business Environment Rating: The Netherlands dropped by one place in BMI's latest Business Environment Ratings for Western Europe, now ranking seventh out of 10 markets surveyed regionally. Its composite score, however, remained unchanged, as 64.2 out of the maximum 100. The country’s score is propped up by the attractive risk profile, as its rewards remain subdued due to the persistent focus on cost-containment in healthcare and pharmaceutical markets.
Key Trends And Developments
- In September 2011, Dutch Qiagen established a partnership with US drugmaker Eli Lilly to develop a companion diagnostic in line with the Janus kinase 2 (JAK2) gene inhibitor produced by Lilly. Qiagen is also partnering US pharmaceutical company Pfizer on the development of a companion diagnostic test to be used with Pfizer's investigational compound, dacomitinib.
- In the same month, Dutch biotechnology company Skyline Diagnostics and Clavis Pharma, a Norwegian oncology-focused pharmaceutical company, signed a research agreement. According to the agreement, Skyline will research gene expression biomarkers for the selection of patients with Acute Myeloid Leukemia (AML) who may benefit from elacytarabine, a new AML treatment being developed by Clavis.
BMI Economic View: BMI expects a cooling external sector to drive a slowdown in economic growth over the coming months. Nonetheless, BMI does not expect the recovery to be derailed, and forecast real GDP growth of 2.2% in 2011, before a modest acceleration of this growth to 2.3% in 2012. Still, the eurozone sovereign debt malaise will continue to pose downside risks to these forecasts.
BMI Political View: Immigration and community cohesion remain controversial issues in Dutch politics, but the economy will remain centre stage in 2011. A subdued recovery should keep the new minority coalition under pressure. This will particularly be the case as the proposed EUR18bn in public savings starts to put upward pressure on the unemployment rate. A reliance on support from the far-right Party for Freedom will also test a wafer-thin parliamentary majority. In the meantime, although surrounded by political controversy, Dutch society is beginning to deal with the long-term issue of pension reform, forced by the implications of an ageing population.
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