Prescription Drugs - Netherlands

Netherlands

The Netherlands is expected to witness significant growth in the Prescription Drugs market, with projected revenue reaching US$5.39bn in 2024.
This growth is further expected to continue with an annual growth rate (CAGR 2024-2029) of 2.57%, resulting in a market volume of US$6.12bn by 2029.
When compared globally, it is worth noting that United States will generate the highest revenue in the Prescription Drugs market, with an estimated value of US$358.90bn in 2024.
Taking into account the population figures, it can be observed that in the Netherlands, per person revenues of US$304.90 are generated in 2024.
This highlights the significance of the Prescription Drugs market within the country.
The Netherlands has a strong pharmaceutical industry that focuses on innovation and research in prescription drugs.

Key regions: Japan, China, Europe, Australia, Canada

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Analyst Opinion

The Prescription Drugs (Pharmacies) market in Netherlands is experiencing steady growth due to several factors.

Customer preferences: Customers in the Netherlands have a strong preference for purchasing prescription drugs from pharmacies. This is primarily due to the high level of trust they have in the expertise and professionalism of pharmacists. Additionally, customers value the convenience and accessibility of pharmacies, as they are located in close proximity to residential areas and offer extended operating hours.

Trends in the market: One of the key trends in the Prescription Drugs (Pharmacies) market in Netherlands is the increasing demand for generic drugs. This trend is driven by the government's efforts to promote cost-effective healthcare solutions. Generic drugs offer the same therapeutic effects as branded drugs, but at a lower cost. As a result, pharmacies are seeing a rise in the number of customers opting for generic drugs, leading to increased sales in this segment. Another trend in the market is the growing focus on e-pharmacies. With the advancement of technology and the increasing popularity of online shopping, customers are increasingly turning to e-pharmacies for their prescription drug needs. E-pharmacies offer the convenience of ordering medications online and having them delivered to their doorstep. This trend is particularly popular among busy professionals and elderly individuals who may have difficulty visiting physical pharmacies.

Local special circumstances: The Netherlands has a unique healthcare system that contributes to the development of the Prescription Drugs (Pharmacies) market. The country has a universal healthcare system, which means that all residents have access to healthcare services, including prescription drugs. This ensures a consistent demand for prescription drugs, driving the growth of the market. Additionally, the Netherlands has a strong regulatory framework in place to ensure the safety and quality of prescription drugs. Pharmacists are required to adhere to strict guidelines and regulations, which further enhances customer trust in the pharmacy sector.

Underlying macroeconomic factors: The growth of the Prescription Drugs (Pharmacies) market in Netherlands is also influenced by underlying macroeconomic factors. The country has a stable economy with a high standard of living, which enables individuals to afford prescription drugs. Furthermore, the aging population in the Netherlands is increasing the demand for prescription drugs, as older individuals typically require more medications to manage their health conditions. In conclusion, the Prescription Drugs (Pharmacies) market in Netherlands is experiencing steady growth due to customer preferences for pharmacies, trends such as the demand for generic drugs and the rise of e-pharmacies, local special circumstances including the country's healthcare system and regulatory framework, and underlying macroeconomic factors such as a stable economy and an aging population.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.