Q220 reflects the full impact of COVID-19, driving a downward slide in all segments

For Q220, according to BioMedGPS’ SmartTRAK Financial Dashboard, the US Infection Prevention - Vascular Access Adjunct Products market was down -16.8% YoY.

The prevention of Hospital-Acquired Infections (HAIs) continues to drive measures and practices to reduce Central Line-Associated Bloodstream Infections (CLABSIs) and is creating demand for products that can address these issues. Numerous programs and educational tools are being developed to provide measures and strategies that assist healthcare providers in the prevention and reduction of infection in acute care and other settings.

Among the many topics covered in the comprehensive  Q220 Infection Prevention: US Vascular Access Adjunct Market Recap* are:

Mark Dickinson, Worldwide President of Cerenovus, discusses the Company’s focus on patients, innovation and physicians and becoming a key player in the market for stroke devices in a recent interview with SmartTRAK.

To find out more about Cerenovus, its latest innovations and the Company’s strategies for growth, click on the following video to listen to the interview recorded via Uberconference. (31:11 minutes)  Specific interview topics by timecode are also outlined below.

To download a complete transcript of the interview, click here.

Heavy-weight contender ​COVID-19 landed some brutal blows to revenue in Q220, but companies look for better days in the second half of 2020. 

The impact of the COVID-19 crisis started to hit the US Joint Fluid Replacement market late in Q120, and, to some degree, this helped to shield HA companies from heavy punches to revenue. Although none were left KO’d in round one, they still came through bruised up. Going into Q220 for round two, HA companies prepared as best as they could and braced for impact. Unfortunately, COVID-19 is a formidable opponent and even with strong cost-control measures in place, companies were hit hard with huge revenue losses for products in the three largest segments of the US Joint Fluid Replacement market.

Among the many topics covered in the comprehensive Q220 US Joint Fluid Replacement Market Recap* are:

In Q220, all geographies experienced shrinkage in their AWC revenues with Single-use NPWT showing the sharpest declines.

All companies are experiencing a negative impact on their wound businesses from COVID-19 in Q220, but most are also stating that June was better than April, indicating a strong recovery in the wound market. 3M* remains the WW market leader with Q220 revenue down -14.9% YoY. WW Advanced Dressings declined -9.9%, impacted by COVID-19, especially in hospitals. US Skin/Dermal Substitute (CTP) revenue fell also, with mixed results from market leaders. WW NPWT was down -17.8%, with single-use and traditional devices down -24.2% and -16.4%, respectively.

Among the many topics covered in the comprehensive Q220 Advanced Wound Care Market Recap* are:

Keith Boettiger, Vice President, Neuromodulation, Abbott discusses COVID-19 and the Company’s strategies for growth in an interview with SmartTRAK

Keith Boettiger, Vice President, Neuromodulation, Abbott discusses how COVID-19 has impacted the Company, its growth strategies, the market for neuromodulation and what’s next in terms of innovation in an interview with SmartTRAK.

To find out more about Abbott and the Company’s latest initiatives, including digital health, remote care and remote programming, click on the following video below to listen to the interview recorded live via Uberconference (35:38 min). Specific interview topics by time code are also outlined below. To download a complete transcript of the interview, click here.

We are pleased to announce that Tim Patrick has joined the team at SmartTRAK as Senior Manager of Corporate Accounts. Tim has 5+ years experience in Medical Device Sales and Healthcare IT. Tim had prior roles at Zimmer Biomet and Abbott Laboratories.

Meet Tim Patrick:

What is your role with SmartTRAK? I’ve joined the commercial team as a Senior Manager of Corporate Accounts.

What do you like about SmartTRAK? It’s tough to keep this question to a paragraph, but I will do my best! The space, product and people are what really intrigues me about SmartTRAK. The Medtech/Software space is ever changing and as dynamic of a space that I’ve been involved with. The product is absolutely incredible. The type of data we provide at your fingertips is a must have. Lastly, I’ve come from large Fortune 500 companies who have claimed to be a tight knit team but nothing compares to what we currently have at SmartTRAK. From the other reps, analysts, and up to the CEO it truly is the best culture I have ever been a part of.

Headwinds increased in Q2 as COVID-19 shut down elective procedures and stay-at-home orders impacted trauma volumes, but by the end of the quarter tailwinds picked up and it was smooth flying.

Q220 started out in a stall and continued to nosedive, as the Trauma segment experienced decreased admissions in April and May due to stay at home orders that caused a decrease in daily activities, including limited driving for most of the US. The US Trauma Market was down -14.2% YoY, with WW revenues declining -16.2%.

In June tailwinds picked up as stay at home orders began to lift and activities resumed, which boded well for the Trauma segment. Trauma procedures started to rebound in June, as most hospitals resumed surgeries depending upon PPE and OR time and resources. 

Among the many topics covered in the comprehensive Q220 Trauma Market Recap* are:

The US Surgical Matrices Market collapsed in Q220, achieving sales of $227.3MM, off -39.4% YoY, as the effects of COVID-19 became evident with many delayed or canceled surgeries. The problems were evident everywhere, where Breast Matrices dropped -46.4 YoY to $69.6MM in Q220, while Hernia Matrices fell off -35.7% YoY to $157.7MM.

With COVID’s toll on delayed and canceled elective surgeries affecting all participants in the market, the US Surgical Matrices Market yielded -39.4% YoY, according to BioMedGPS’ SmartTRAK Financial Dashboard. Allergan* held on to its lead despite the effects of the pandemic, giving back -46.9%. Becton Dickinson* (BD) lost less than Allergan, declining -36.8%. However, Medtronic* announced that its hernia business was recovering faster than it expected.

Among the many topics covered in the comprehensive Q220 US Surgical Matrices Market Recap* are:

The US market for Hemostats and Sealants dropped precipitously by -32.4% YoY in Q220, as the effects of COVD-19 became evident with many delayed or canceled surgeries.

With COVID’s toll on delayed and canceled elective surgeries affecting all participants in the market, the US Hemostats and Sealants market dropped -32.4% in Q220 according to SmartTRAK Financial Dashboard, a decrease that was presaged in Q120 earnings reports. Baxter* led the decline in Q220, down -42.1% YoY, with the Company’s sealants experiencing the worst YoY shrinkage. Cryolife* was close behind as its BioGlue* franchise saw cardiac surgeries postponed nationwide. In Q220, Ethicon* remained the market leader, followed by Baxter.

Among the many topics covered in the comprehensive Q220 US Hemostats and Sealants Market Recap* are: