As the US healthcare system adjusts to the “new” norm brought on by the COVID-19 pandemic, the US Orthobiologics market rallied in Q320, ending the quarter up +2.3% YoY.Among the many topics, including company revenues, shares, charts and expert analysis, covered in the comprehensive Q320 Orthobio Market Recap* are:
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Strong interest in joint preservation amid COVID-19 pandemic
During the month of October, the International Cartilage Regeneration & Joint Preservation Society (ICRS) hosted its first virtual convention, allowing stakeholders to come together to learn about the latest cartilage repair techniques, review recent clinical outcomes and explore new products via a virtual hall.
The knee is one of the most common joints to experience cartilage defects and many treatment options exist and vary widely. In this article, SmartTRAK highlights some select key takeaways from the Knee and Advanced Technique Modules, focusing on Zimmer Biomet*, Arthrex*, Anika*, Vericel* and their products, including HemiCAP*, PF Wave*, WaveKahuna*, Hyalofast*, BioCartilage*, CartiONE*, MACI*, BioPoly* and APS nStride*, among others.
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Because Orthobiologics spans various markets and is used in numerous procedures in different surgical settings, Q2 proved to be a roller coaster of a quarter, creating uncertainty and craziness. Beginning in mid-March with stay-at-home orders and restrictions on elective surgery, US elective procedures bottomed in April, resulting in plummeting revenues and increased angst.
Responding quickly to the new twists and turns of COVID-19, many companies shifted priorities, reduced costs and implemented initiatives to help climb out of the record-breaking descent of Q220. Revenue and procedural recovery varied widely and impacted segments differently.
Among the many topics covered in the comprehensive Q220 OrthoBio Market Recap* are:
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DSM, a global leader in biomedical solutions for more than 30 years, helps improve the health of 3.5 million patients annually. While biomaterials have been around for decades, DSM Biomedical is advancing biomaterial science, providing the latest synthetic biomaterials and stem cell-based technologies that are used in various applications, including spine, general orthopedics, sports medicine, general surgery and wound.
To learn more about the latest advancements in DSM Biomedical biomaterials and technologies and what’s next for the business, click on the following video to listen to SmartTRAK’s interview with John Witkowski, President of DSM Biomedical. A transcript of the interview can also be downloaded below.
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For Q419, US Orthobio market growth (comprised of Bone, Cartilage, Soft Tissue and Meniscus Replacement implants) was flat at 0.3%. FY19 grew 4.2% over 2018. Both Q4 and FY19 did see shifts within the market. The double-digit growth of Cartilage and Wright’s AUGMENT was offset by lower than expected sales in Infuse, Cartiva SCI and soft tissue augmentation. For 2019, Medtronic remained the overall US market leader, followed by DePuy Synthes and Stryker.
Among the many topics covered in the comprehensive Q419/FY19 OrthoBio Market Recap* are:
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With a boost from an extra selling day during the third quarter, the US OrthoBio Market continues to be healthy, with Q319 revenue up +5.8% YOY. Year-to-date revenue is up +5.5% compared to the same time period for 2018. In addition to the specific factors that were discussed in the Q219 OrthoBio Recap, the segment’s success may be attributed to robustness in the broader economy and more people feeling comfortable scheduling procedures. As reported in Needham’s Q319 Review, in Q319 vs. Q219, overall orthopedic market growth improved to 5.0% vs. 3.1%, with spine improving to ...Among the many topics covered in the complete, comprehensive Q319 OrthoBio Market Recap* are:
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SmartTRAK predicts Orthobiologic’s top market and technology trends to watch in 2019
So what did we see in store for Orthobiologics? Here are SmartTRAK’s predictions for the top market and technology trends to watch:
Balancing Sales Growth Trajectory and Portfolio Reshaping
As competition heats up, companies will continue to identify tailwinds and headwinds that sway sales growth and will reshape portfolios accordingly. Sustaining above-market growth rates will take creativity, especially in stagnate markets like spine or in areas that face access challenges. Expect focused efforts around adding/expanding higher growth-higher margin products, shedding lower growth-lower margin product lines and expanding market penetration or margins for the “low-hanging fruit” prospects....
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SmartTRAK reports that Q219 performance in the OrthoBio market was strong, up 6% YoY, exceeding SmartTRAK expectations. As expected, Medtronic was the overall OrthoBio market leader, followed by DePuy Synthes and Stryker. Overall, all OrthoBio technologies grew year-over-year except for Spinal Constructs, Soft Tissue Augmentation and Synthetic Cartilage. Although the Spine market has stabilized, Spinal Constructs continues to slowly lose share due to...
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Advanced, higher priced biologics push the US OrthoBio Market higherBased on Q418/FY18 SmartTRAK Financial Dashboard reporting:
- US Bone Replacement grew +2.3% YoY, with FY18 revenues up +2.7%.
- US Cartilage Replacement increased 55.7% YoY, with FY18 revenues up 34.7%.
- US Soft Tissue Augmentation grew 2.3%, with FY18 revenues growing 9.2%.
- US Tendon Allografts posted an 8.4% YoY increase, with FY18 revenues up +3.9% YoY
- US Meniscal Implant market, with robust growth, was up 15.6% YoY for Q418 with FY18 revenues increasing by 3.0%.
Among the many topics covered in the Q418/FY18 OrthoBio Market Recap are: