Push Pull Trends in Joint Replacement Market Keep Growth Steady
Over the next twelve months, BioMedGPS projects the US Joint Replacement Market will grow in the low single digits at approximately 3%. This slow but steady growth is consistent with past years as the push pull of market trends keeps it in check. Gaining share in this era will require companies to navigate the changing political and economic landscape and to deliver solutions beyond launching the latest widget...
India spoke loud and clear with extreme pricing caps on total knee replacements, while CMS sends mixed messages on controlling costs in the US
Outside the US the Total Joints Market softened during Q217, offsetting stable to strengthening results in US Knees and Hips, with the WW Market (as reported) growing +0.7%. Countries such as India are working to reduce the cost burden of joint replacement surgery, while in the US, the Centers for Medicaid & Medicare Services (CMS) is sending mixed messages keeping reimbursement rates relatively flat while proposing reductions to its Comprehensive Care for Joint Replacement bundled payments initiative...
Irvine, CA (PRWEB) September 12, 2017
BioMedGPS, the leading provider of real-time analytics and strategic intelligence of the orthopedic/spine, wound care, regenerative medicine and neuro therapies markets, announces expanded coverage of SmartTRAK Business Intelligence for the European market with the addition of modules in SmartTRAK EU Extremities and EU Trauma.
Max Retail Pricing for Knees in India Dropping up to 78%
The Indian Government enacted price controls for knee implants capping the price significantly below current market rates. According to a report in IndiaToday , the move is the latest step in the government’s move to bring down the cost of medical devices and pharmaceuticals. The price controls for knee replacement implants caps the price of CoCr knees at ~$852 (54,720 rupees). Ananth Kumar, Minister of Chemicals and Fertilisers, stated current implants are priced at up to ~$3,895 (250K rupees) at Indian hospitals...
From government policy to market shifts, value-based care initiatives are driving change, and some see the challenges as opportunity
Expanded indications along with new implants and technologies driving strong market growth
SmartTRAK is the Medtech industry’s only global Insights-as-a-Service solution for the Orthopedics, Wound Care, Regenerative Medicine and Neuro Therapy markets. SmartTRAK’s propriety methodology turns disparate data from hundreds of sources into powerful insights customers can rely on as the trusted source for strategic decision-making. The SmartTRAK enterprise platform includes rich daily updates, comprehensive market coverage and simple-to-use tools and dashboards for market, product and financial analysis. Customers leveraging the SmartTRAK platform also have direct access to market experts for inquiries and advisory services.
Healthcare has been a hot button issue during this year’s political campaigns. On both sides of the aisle, candidates from the national to more local levels have been pushing plans for changing the system from “repealing and replacing” to “reforming” the Affordable Care Act (ACA). But true, long-lasting change is rarely driven by political policy alone, but by a combination of factors including market forces.