MedTech Strategist reported that In May of this year, the Deloitte Center for Health Solutions conducted "an online survey of 50 clinical and service line leaders at US provider organizations on their deferred procedures". With the return of elective procedures being integral to a comeback for the MedTech industry, the results of that survey suggest that the path to resuming these procedures is becoming more complicated.
According to the Deloitte survey, "Respondents expect the return to pre-COVID-19 productivity volumes to take two to six months, with three months the typical estimate. When asked to list their top concerns about resuming deferred procedures, providers say a second coronavirus outbreak is their biggest worry (82%)". It appears that their biggest fear, a COVID-19 resurgence, may be coming to pass.
The following is just a small sampling of recent updates regarding the Life Sciences industry's COVID-related delayed procedures and what an impact a resurgence may have. These updates are compiled, reviewed and posted in real-time by our SmartTRAK analysts, who are constantly monitoring the situation and sifting through the noise to present the most relevant news to our subscribers:
According to the NHS Confederation, some hospitals already started to reduce the non-urgent procedures in the UK due to the increasing COVID-19 related hospital admissions.
SmartTRAK expects DePuy Synthes* Q320 Hip and Knee results to be a positive read-through for continued recovery in the US market into Q420. However, w/ COVID-19 cases ramping up, analysts such as Needham’s Mike Matson warn there is still a risk of a “w-shaped” recovery.
SmartTRAK analysts in Europe project Q420 EU Extremities market results could be similar to Q120 due to COVID-19 cases ramping up prompting lockdowns in various countries. Ireland and Wales are entering lockdowns this wk and hospitals in Switzerland and France are at capacity.
Concerns over economic fallout from increased coronavirus outbreaks are affecting stocks WW. On Wed, a record 22 US states recorded > 1K new cases. Countries w/ rising cases that are imposing or considering new restrictions include Germany, France and England. Seeking Alpha
With COVID-19 cases ramping up in Europe prompting some countries such as Wales to enact temporary lockdowns, SmartTRAK expects to see a drop in non-urgent elective procedures including hip and knee replacements in Q420.
Zimmer Biomet announced the launch of a multimedia campaign “Don’t Let Pain Gain on You” to encourage pts who have delayed joint replacement surgery due to COVID-19 to speak w/ a healthcare professional about moving forward w/ their procedure.
Belgian health officials report that COVID-19 hospitalizations are doubling every wk and that at the current rate ICU admissions could reach maximum capacity in mid-November. The Brussels Times
Essity reported that it has set a target to grow its Medical Solutions business above 3% this year. The company reported seeing improvement in underlying wound care growth due to hospitals recovering from COVID-19. ESSYY Q320 Earnings Call Transcript on Seeking Alpha
SmartTRAK projects the US Market for revision knee replacement will reach $1.11B by the end of 2024 w/ a 5-yr CAGR of 3.9% w/ near-term growth dampened by the COVID-19 pandemic. SmartTRAK Knee Replacement – US Market Overview
A survey conducted for Zimmer Biomet found that 48% of joint replacement pts postponed treatment due to fears related to the COVID-19 pandemic and that 82% of pts who did have joint replacement during the pandemic felt safe doing so.
The CommonWealth Fund’s latest report on US outpt care trends shows that for the week of Oct 4-10 total visits for orthopedics were down -3% compared to pre-COVID baselines and that 1% of ortho visits were telehealth. CommonWealthFund.org
SmartTRAK estimates Allergan was caught in the broad-based downturn in aesthetic surgeries due to COVID, backsliding -51.4% YoY to $45.2MM for Q220.
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