Public tendering is driving down the orthopedic trauma device market in Europe, according to a new iData Research report.
Here are eight things to know from the report:
1. Surgeons are choosing hip intramedullary nails over compression hip screws or cannulated screws because the intramedullary nails have:
• Improved fracture repair
• Increased mechanical strength
• Less blood loss
• Faster recovery times
2. New surgeons are being trained in IM nails for hip fracture instead of traditional devices.
3. The natural incidence of trauma fractures is driving the demand for IM nails used in other anatomies.
4. There are several segments of the orthopedic trauma device market are declining, largely due to the continued rise in public tendering.
5. There is a heavy public tendering in the majority of European countries and prices are constantly under heavy negative pressure. There is pushback on prices from the tenders and group purchasing organizations that have maintained consistent ASP drops for all trauma markets in Europe.
6. There are positive unit sales growth for nearly all of the segments in the European trauma market that will help resist market declines.
7. Stryker leads the European intramedullary nail and hip intramedullary nail markets.
8. Stryker has experienced tremendous growth over the past few years, with large sales increases annually. The company is particularly high market shares in Italy and Spain in 2014.