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SmartTRAK Life Sciences News and Analysis Blog

2 min read

Underlying Dynamics in Healthcare Policy and Reimbursement: SAWC Spring 2023

By Terry Hayslett on 6/12/23 9:21 AM

The success or failure of medical technology often hinges on dynamics occurring within healthcare policy and reimbursement. In this article, SmartTRAK highlights policy and reimbursement themes from SAWC Spring 2023

SAWC Spring 2023 welcomed clinicians, researchers and industry to Washington, DC, to share knowledge and network on the latest developments in advanced wound care. While the attention centered on advances in disease management and technological innovation, SmartTRAK noted compelling discussions involving healthcare policy and reimbursement that may have been missed by some industry participants.

In this article, which can be downloaded here, SmartTRAK explores coverage and payment dynamics surrounding the following topics:

  • Artificial Intelligence: Implications for Advanced Wound Care
    • Artificial Intelligence (AI) is the hot topic of the day. Companies seek to capitalize on it, governments want to regulate it, some workers fear it ...
  • Medicare Advantage: Growing Concerns About Claims Denials
    • Medicare Advantage plans are under fire for reportedly restricting access to medically necessary care ...
  • Topical Oxygen Therapy: Reconsidering Local MAC Coverage Policy
    • In 2017, industry stakeholders requested that CMS remove the non-coverage of topical oxygen therapies (TOT) from the National Coverage Determination (NCD) Manual ...

Artificial Intelligence (AI) is the hot topic of the day. Companies seek to capitalize on it, governments want to regulate it and some workers fear it. Given the attention, it is fitting that sessions touching on AI bookended SAWC Spring 2023. Daniel Kraft, MD, opened the keynote address with captivating slides on how medicine is positioned within the fourth industrial revolution, where robotics, big data and AI are transforming care and leading to ...

To download and read the complete "Underlying Dynamics in Healthcare Policy and Reimbursement" by Terry Hayslett, Senior Analyst, Advanced Wound Care, just click the button below. Download the Article

Topics: Wound Care
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2 min read

Signs of Disruption? The Wound Debridement 2023 Outlook

By Kris Flinn on 6/5/23 10:22 AM

With Smith+Nephew having dominated the wound debridement market for over a decade, SmartTRAK looks at how 2023 could be a year where we see the first signs of disruption.

The WW Wound Debridement Market is forecast to grow at a five-year CAGR of ~5.1%, according to SmartTRAK estimates. Although Smith+Nephew (SNN) has long dominated this market with more than 74% share, SmartTRAK believes 2023 could be a year of disruption in wound debridement as multiple players across a range of segments are poised to see financial returns after years of commercial progress. It is also worth noting that sharp debridement accounts for over half of the debridement procedures in the US, so the route to market growth is clear. 

In this 2023 Market Outlook article, Kris Flinn, SmartTRAK's Senior Analyst, Wound, provides an outlook of the WW Wound Debridement Market, including factors that could disrupt the market over the next several years, and discusses why debridement is the wound market segment most primed for corporate activity in 2023 and beyond.
Among the many topics covered in the complete article, which can be downloaded here, are:
  • Smaller Players Help Drive Growth in Enzymatic Debridement
  • Chemical Debridement to Continue Geographic Expansion
  • Portfolio Gaps to be Addressed
  • Analysis of the Major Players
    • 3M
    • Smith+Nephew
    • Mölnlycke
    • Convatec
    • Urgo Medical

The fact that Smith + Nephew owns three-quarters of the WW Wound Debridement Market highlights two issues: firstly, the company has done an excellent job in establishing such a dominant position, and secondly, there is a ...

To download and read the complete "Wound Debridement 2023 Outlook" by Kris Flinn, SmartTRAK's Senior Analyst, Wound, just click the button below. Download the Wound Debridement 2023 Article

Topics: Wound Care
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2 min read

Healthy Gains: Q422/FY22 AWC Market Recap

By Susan Paquette on 5/1/23 9:30 AM

Advanced Dressings and Biologics added healthy gains to the WW Advanced Wound Care market, while External Devices showed minimal growth.

The global Advanced Wound Care market is split geographically, with the US accounting for just over half, followed by Europe and then ROW, due to the US using higher technology products and their allowed reimbursement. SmartTRAK noted a sizeable shift in market share from Q122 to Q422.

Among the many topics covered in detail in SmartTRAK's comprehensive Q422/FY22 AWC Market Recap* are:

  • Complete Q422/FY22 AWC Market Overview and Highlights
  • SmartTRAK's Expert Market Analysis and Insights
  • All Company News, Revenues, Data, Charts and Shares
  • WW Advanced Dressings: Continued Solid Growth
  • Biologics: Growth Remains Healthy but Dips Slightly in Q422
    • Skin Substitutes/CTPs
    • Topical Delivery/Drug
    • Collagen/Active Dressings
    • Traditional NPWT Performance
    • Single-use NPWT Performance 
    • Topical Oxygen and Debridement
  • Growth Analysis – Currency Having a Strong Impact Throughout 2022

The US went from 51.9% share market to 55.3% of the global AWC market, Europe from 29.5% to 26.4% and ROW from 18.6% to 18.3%. The primary reason is ...

Read the entire Q422/FY22 AWC Market Recap, including SmartTRAK's expert analysis, news, data, charts, company revenues and shares.*

*These links and the complete unedited article can only be viewed by SmartTRAK subscribers to this module. For more information on SmartTRAK, including how to receive a demo and subscribe, please click the button below.Learn More about Subscribing to SmartTRAK

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3 min read

Five Companies to Watch in Wound Diagnostics in 2023

By Kris Flinn on 4/25/23 9:30 AM

The need for effective wound diagnostics has never been greater. SmartTRAK highlights five companies that may advance the market in 2023

SmartTRAK forecasts the US Diagnostics Aids Market to more than double in size by 2026E. There is a significant need for diagnostic technologies in US wound care, with hard-to-heal wounds anticipated to exceed four million by 2026E and advanced wound care revenues growing at a five-year compound annual growth rate of over 6% according to the SmartTRAK US AWC Market Overview.

In this article, SmartTRAK focuses on five noteworthy companies and the key initiatives they have planned for 2023 and also reveals four organizations that could disrupt the market this year. The five are:

  • Spectral MD
    • It is now ten years since Spectral MD was first awarded US Biomedical Advanced Research and Development Authority (BARDA) funding to accelerate the commercialization of its DeepView technology, a portable imaging system that uses ...

  • MolecuLight
    • Since 2015, MolecuLight has been very visible and active with its MolecuLight i:X device, a handheld fluorescence imaging device that provides real-time visualization of bacteria in chronic wounds at ...

  • Podimetrics
    • Podimetrics is another company that has ridden the challenges of the early 2020s with great success. Revenues have doubled for three years running and Company infrastructure has been ...

  • Smith+Nephew
    • SNN has shown a greater desire to establish itself within wound diagnostics than any other major wound care player. In addition to the Company’s agreement with MolecuLight, in 2019, SNN also acquired ...

  • 3M
    • SmartTRAK estimates that 3M had a 19.5% share of the WW Advanced Wound Care Market in the first nine months of 2022, making them the number one player. Over 80% of the Company’s revenue is from ...

The US Diagnostic Aids Market is highly fragmented, with a variety of start-ups, academic institutions and established players attempting to commercialize a range of technologies. As well as the five companies already featured, SmartTRAK believes that the following organizations could disrupt the market in 2023 ...

Just click the button below to download and read the "Five Companies to Watch in Wound Diagnostics in 2023" Market Outlook article by Kris Flinn, SmartTRAK Senior Analyst, Wound. Download the Market Outlook Article

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2 min read

Wound Care Today 2023: Low Growth Impacting the UK Advanced Dressings Market

By Kris Flinn on 4/11/23 9:30 AM

SmartTRAK reports on the Wound Care Today 2023 Conference, where a number of challenges facing UK Advanced Dressings companies were on display

The UK Advanced Dressings Market is projected to grow at a five-year compound annual growth rate (CAGR) of +1.9%, according to SmartTRAK estimates. The UK market is growing slower than any of the nine advanced dressings markets that SmartTRAK reports on, including the markets for Total Europe (+3.2%) and Worldwide (+5.0%). Given that the number of chronic wounds is increasing annually and the rate of UK inflation is in the double digits, why is the growth of the UK market so poor compared to other markets?

Among the may topics covered in detail in this comprehensive look into Wound Care 2023 article are:

  • Increasing Alignment of Advanced Dressing Portfolios
  • Increased Presence of Premium Priced Therapies
  • Digital Tools That Highlight Inappropriate Usage of Dressings
  • The Hidden Impact of Hidradenitis Suppurativa

Any usage of advanced dressings to manage HS is vulnerable to switching to products tailored to the condition. Quantifying the size of this market niche is challenging but could be an increasing area of focus in ...

To download and read the complete "Wound Care Today 2023: Low Growth Impacting the UK Advanced Dressings Market" perspective article by Kris Flinn, SmartTRAK's Senior Analyst, Wound, just click the button below.

Download the Article

Topics: Wound Care
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2 min read

The 2023 Market Outlook for Advanced Dressings in Europe

By Lennart Stadler on 3/21/23 9:36 AM

From new products to macroeconomic headwinds and some regulatory turbulence, SmartTRAK looks at trends to watch for in Europe in 2023.

The European Advanced Dressing Market is forecast to grow at a 2021-2026E CAGR of +3.2%, according to SmartTRAK estimates. The market grew +2.9% in Q322 and +4.8% YTD, impacted by strong growth in H122 (+5.8%).

Advanced Dressings is a market that is spread relatively evenly across geographies, with Europe holding a 43.9% share of the worldwide (WW) market, with the US Advanced Dressings Market at a 28.5% share and ROW 27.6%.

In this 2023 Market Outlook article, SmartTRAK highlights market and regulatory factors that will affect growth in the European Advanced Dressing Market in 2023, including:
  • New Product Launches Coming Back
  • Transitioning to the European Medical Device Regulations
  • Continued Macroeconomic Headwinds in Specific Countries
  • The Reimbursement-Related Threat of Silver Dressings in Germany
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2 min read

US Surgical Matrices Rebound: Q422 Market Recap

By Doug Devens on 3/17/23 9:30 AM

Breast Matrices rebound and grow modestly as AbbVie’s competitors take over market share. Biosynthetic and hybrid xenograft hernia matrices continue to drive growth in Hernia Matrices.

The US Surgical Matrices Market resumed its pre-pandemic trends, gaining +3.2% YoY according to SmartTRAK Financial Dashboard. AbbVie* and Becton Dickinson* (BD) remained in first and second positions, respectively, in the Q422 Surgical Matrices market. AbbVie held on to its leadership despite  a -4.4% YoY decline, while BD gained +6.1% YoY.

Among the many topics covered in detail in our comprehensive Q422 US Surgical Matrices Market Recap* are:

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2 min read

Oxygen & Energy Devices in Wound Care: Outlook for 2023

By Kris Flinn on 3/2/23 9:21 AM

With many of the “hard yards” already run, SmartTRAK believes that 2023 could be a promising year for the Oxygen and Energy segments of the Advanced Wound Care Market.

SmartTRAK estimates the 2021 WW Oxygen and Energy Market at just over $50.0MM. While this is not an insignificant amount, it trails far behind other Advanced Wound Care markets such as Negative Pressure Wound Therapy (NPWT) and Biologics. Last year, however, showed signs that clinicians are starting to realize the potential of these technologies. Here SmartTRAK looks at how some of the existing players in the markets for oxygen and energy therapies may show increased success in 2023 and why some of the leading wound care companies may soon be taking their first steps into these markets.

Among the many topics covered in this article are:

Topics: Wound Care
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2 min read

Focus on Skin Substitutes and Debridement: 2023 Boswick Symposium

By Gary Delhougne on 2/14/23 9:33 AM

New products from Kerecis, Vericel, Epien, PixaMed and the role of debridement take center stage.

The 45 th  Annual JAB Maui Burn & Wound Symposium met on January 21-26 with a significant focus on the use of skin substitutes and proper wound bed debridement. Though some clinical presentations focused on chronic, surgical and other trauma wounds, burns dominated the agenda. Compared to diabetic foot ulcers (DFUs), pressure injuries and other chronic wounds, there are fewer burns, but their unique treatment requirements and impact on patients increase the importance of targeted therapies. In the US,   SmartTRAK estimates there were approximately 496,530 burns requiring treatment in 2021 with 40,870 burns requiring hospitalization. SmartTRAK estimates the burn market will reach 513,550 cases requiring treatment by 2026 with hospitalization for 42,270 cases (+0.7% 5-year CAGR).

Treating burns with skin substitutes dominated the clinical presentations and discussions on the exhibit hall floor. A close second discussion point was the role of proper wound bed preparation or debridement. This article highlights new products from Kerecis*,Vericel*, Epien Medical, PixaMedand the role of debridement in wound healing.  

Among the many topics covered in detail in the complete article, which is available as a download, are:

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2 min read

The Past, Present and Future of 3M Health Care

By Susan Paquette on 1/17/23 9:18 AM

With the recent announcement that 3M is spinning off its Health Care division, SmartTRAK looks back at the evolution of 3M Health Care, its businesses today, the entry into Advanced Wound Care (AWC) and potential new opportunities for the new Health Care business.

3M, a large, diversified company with annual sales of $35.4B in 2021 announced earlier this year plans to spin-off its Health Care business into a new public company. Today, 3M markets thousands of products through four business groups: Safety and Industrial, Transportation and Electronics, Health Care and Consumer. Post-spin-off, 3M will continue as a leading global material science innovator, while the new stand-alone business will seek to become a global diversified healthcare company focused on wound care, healthcare IT, oral care and biopharma filtration.

Download "The Past, Present and Future of 3M Health Care" Article
Among the many topics covered in this fascinating article are:

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