Market Intelligence Predicts Soft Tissue Repair Device Growth in Europe

Toronto, Canada-based medtech market intelligence provider Millennium Research Group (MRG) has found in its research that the European soft tissue repair device market will see procedure volume growth driven largely by an aging population, while also experiencing steady downward pressure on average selling prices. This will result in moderate market growth, reaching $371 million by 2016.

The aging population in Europe and rising obesity rates will increase the prevalence of ventral and inguinal hernias, urinary incontinence, pelvic organ prolapse and dural damage, reports MRG. Since such conditions are often treated with soft tissue devices, the result will be a demand-driven increase in unit sales.

However, MRG predicts that continued economic problems in Europe will lead to cuts in healthcare spending. The result will be slower adoption of higher-priced products, such as proprietary meshes for inguinal hernia repair and biologic meshes for ventral hernia repair. Facilities will instead opt for less expensive alternatives of known clinical efficacy.

“This is a mature, largely commoditized market, with most segments dominated by a few large multinationals,” said MRG Analyst, Jennifer Smith. “Johnson & Johnson, C. R. Bard, Covidien and AMS have achieved their market dominance through large-scale physician training programs and extensive cross-segment promotion, which makes it easy for healthcare facilities to purchase a full range of soft tissue solutions through a single vendor. Because there is not much distinction between products, these large companies can also bear the financial burden of extensive promotion.”

Millennium Research Group’s European Markets for Soft Tissue Repair Devices 2012 report includes unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for ventral hernia repair, inguinal hernia repair, vaginal sling procedures, pelvic floor reconstruction, and dural repair devices in France, Germany, Italy, Spain and the United Kingdom.