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Q120 reporting gives us the first glimpse into the effect of COVID-19 on the spinal hardware market, with the impact in the US felt starting in mid-March. A multi-dimensional survey of 902 spine surgeons around the globe revealed that 67.1% of respondents saw the cancellation of greater than 75% of their surgical cases per week in late March/early April. Global Spine J.
The WW Spine Hardware market experienced a -10.6% downturn in the quarter, with the US down -11.2%. Several companies noted they were tracking for strong Q1 growth prior to the pandemic. At the end of February, SeaSpine* reported that it was looking at another quarter of double-digit US growth, but ended up with a slight overall decline in Q1 US revenue due to March procedures being down an estimated -18% vs March 2019.
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The Extremities Market was on track to post a strong Q120 finish but due to COVID-19 the market pulled up short
The Extremities Market was in position to post a strong finish in Q120, driven by gains in the US. But the market pulled up short due to the postponement of elective and non-urgent procedures resulting in the US Extremities Market, declining -1.9%, according to SmartTRAK Financial Dashboard.
Among the many topics covered in the comprehensive Q120 Extremities Market Recap* are:
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Q120 was looking like a strong first quarter following Q420’s 4.5% YoY growth, the highest rate seen in the US Total Joints Market for several years. But, the COVID-19 pandemic and the institution of stay-at-home orders in most US states put the brakes on elective procedures in March, resulting in -4.8%, according to SmartTRAK Financial Dashboard. The postponement of procedures and the resulting downturn in revenue late in Q120 also resulted in orthopedic companies withdrawing guidance due to uncertainty about the timing of recovery.
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As access to healthcare continues to open up, the orthopedic industry is taking significant precautions to insure the health, safety and piece of mind of patients and caregivers and balance that with its attempt to ramp up services and procedures. The following is a small sampling of the orthopedic updates 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:Updated Survey Data Points to Recovery by Q420
WFS’ new survey of 623 US-based physicians (15 specialties) shows that in orthopedic, the % of procedures expected to be postponed due to COVID-19 for both TKR and THR declined from 94% (Wave 1) to 85% (Wave 2). WFS MedTec: Updated Survey Data Points to Recovery by Q420
Of deferred spinal fusion procedures, surveyed surgeons now expect 74% of cases to be performed at a later date w/ 26% cancelling. Reasons for cancellation include pt seeking treatment w/ a different surgeon (26%) and underlying condition improving (23%). WFS MedTech Survey
Based on its survey of 623 US-based physicians across 15 specialties between April 27 and May 8, WFS notes that in general the % of robotic & laparoscopic procedures across all specialties declined compared to pre-COVID 19 levels, while the % of open procedures increased.
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We are excited to announce the launch of Computer Assisted Surgery's Financial Dashboard. SmartTRAK's financial analysis is highly regarded and frequently cited by many in the industry for its accuracy and comprehensiveness. As the Computer Assisted Surgery industry continues to evolve, it's more important than ever for industry players to stay on top of the market financials.Financial Dashboard makes it easy to:
- Size a market
- Gauge market share
- Compare year-over-year growth
- Spot financial trends
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Robotics and other enabling technologies continued to drive implant sales for existing competitors in Q419, with several new product introductions and expanded applications expected in 2020 and beyond.
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New research shows excellent results for anatomic TSA using a stemless humeral component with an inlay glenoid. Dr. Gregory Nicholson gives the breakdown on the research, indications, market acceptance and limitations.
In the market for total shoulder arthroplasty (TSA), younger, active patients with degenerative conditions of the glenohumeral joint are a unique and more complicated population for surgeons to treat with TSA. Challenges in treating this cohort include higher functional demands that can lead to implant wear and failure. However, a recent study suggests a new implant design might be a good option these types of patients, potentially filling a treatment gap and expanding the market for TSA.
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According to BioMedGPS’ SmartTRAK Financial Dashboard, the WW Trauma Market posted +2.8% growth, down from Q3, while the US achieved growth of +3.8%, also down from Q3. Trauma market leader DePuy Synthes (48.6% US Q4 share) reported while sales were down compared to Q319, gains were driven by overall market growth and strong adoption of their Femoral Neck System.
Tough comparisons, both YoY and sequentially, impacted the Q419 Trauma Market. The US pricing environment remains relatively steady as DePuy Synthes noted pricing pressure of -2.0%, in line with their Q2 and Q3 pricing (Q1 was -2.5%). Zimmer Biomet’s SET pricing improved in Q4 at -1.8% vs. Q3’s -2.0%. BioMedGPS believes 2019 pricing trended at -2.0 to -2.5%.
Among the many topics covered in the comprehensive Q419/FY19 Trauma Market Recap* are:
3 min read
Healthy competition ignited by new product intros propels extremities arthroplasty while fixation runs into tough comps along with a lack of new product drivers