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.
Durham-based Bioventus has received approval from the U.S. Food and Drug Administration for its treatment, Durolane.
The single-injection product treats knee osteoarthritis pain. The company plans to launch Durolane in the U.S. early next year.
Citing BioMedGPS SmartTRAK, Bioventus CEO Tony Bihl said in an email that “the 2016 entire HA market in the US (1-shot, 2-shot, 3-shot and 5-shot) was about $979 million.”
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...
FDA allowing use of historical controls may overcome a significant barrier and expedite pt enrollment in cartilage repair IDE trials notes Jack Farr, MD, at 2016 ICRS.
Injectable treatments will never turn a bad joint into a good one but may relieve pain for an undetermined period of time, concludes Elizaveta Kon, MD, in a conversation with BioMedGPS at the 2016 ICRS. Dr. Kon has performed extensive research comparing injectable technologies (e.g., PRP, HA, BMAC) and believes their primary role is in treating pain in pts who wish to avoid surgery.
Ironically, there is a greater need for a cartilage replacement technology in the ankle than in the knee, reports Richard Ferkel, MD, in a video interview with BioMedGPS at 2016 ICRS. The frequency of OCD lesions of the talar dome is about 5X greater than in the knee based on Ferkel's experience, who emphasizes the need for a single stage cartilage repair technology.
The American Association of Orthopedic Surgeons (AAOS) has shifted their focus from efficacy to costs in their offensive against intra-articular hyaluronic acid therapy
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.
Robust growth is predicted for the US OrthoBio market, driving revenues to over $4B by 2021E according to SmartTRAK projections.