Canaccord Genuity's latest survey results indicated that the "sharp bounce-back" in orthopedic surgery volumes to end the second quarter may be unsustainable, an analyst from the investment banking and financial services firm told Medical Device And Diagnostic Industry.
Canaccord Genuity conducted surveys regarding orthopedic surgery volumes in March, April, May and June. The most recent survey received responses from 50 orthopedic surgeons. Nine findings from June:
1. Ninety-four percent of respondents said they're seeing existing and new patients in person, up from 86 percent in May, 28 percent in April and 26 percent in March.
2. Seventy percent of respondents said they're performing elective orthopedic surgeries. That was the case for 58 percent, 2 percent and 0 percent in May, April and March, respectively.
3. In June, surgeons reported a 43 percent year-over-year drop in procedure volumes, representing a slight improvement from Canaccord's previous surveys.
4. Just 8 percent of respondents said they expected volumes to return to normal in the third quarter, down from 18 percent in May and 32 percent in April.
5. The percent of surgeons expecting a return to normal volumes in the fourth quarter dropped from 46 percent in April and 27 percent in May to just 18 percent in June.
6. In June, 28 percent of surgeons reported that they expect volume normalization in the second half of 2021, up from 14 percent in May and 0 percent in April.
7. Eighty-two percent of respondents said they expect a second wave of COVID-19 cases to affect their practice in the second half of 2020.
8. Orthopedic surgeons are primarily seeing patients whose surgeries were deferred, rather than new patients, the survey suggested.
9. Over the past two months, physicians have become less willing to try new technologies, learn new surgical techniques and participate in clinical trials.
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