July 9, 2009 – According to Millennium Research Group (MRG), the ongoing economic crisis is putting pressure on publicly funded European healthcare systems, intensifying the decline of interventional cardiology device prices in the region.
MRG's “European Markets for Interventional Cardiology Devices 2009 (Part II)” report details the extent to which competitive pricing and discounts among interventional cardiology device vendors is resulting in price erosion in Belgium, Luxembourg, the Netherlands, Norway, Denmark, Finland, Sweden, Spain and Switzerland.
IC device vendors are engaging in price undercutting and offering high-volume discounts or bundling deals with other products in their portfolios in order to encourage sales, resulting in price erosion. The healthcare systems in the Netherlands and Switzerland (beginning in 2012) provide only general funding for IC procedures, despite the varying cost of devices used. In order to operate within set budgets, European healthcare facilities must often choose lower-cost devices. Contract tenders between sellers and group purchasing organizations will further add to price erosion. In exchange for high-volume sales of their products, manufacturers offer significant discounts. This method of business is becoming more common across Europe, particularly in the Nordic countries and Spain.
MRG's new report provides important insight into the reasons behind and extent of the changes in interventional cardiology device pricing. Additionally, the report provides full breakdowns of procedures by type and device unit sales by subtype, including five-year forecasts, up-to-date market shares and in-depth qualitative insights.
For more information: www.MRG.net