TORONTO, Oct. 27 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European arthroscope market generated over $30 million in 2010. Revenues, however, remained relatively flat over 2009 due to decreasing scope prices and greater market penetration of refurbished scopes.
Due to unfavorable economic conditions, manufacturers are being forced to promote creative options for purchasing arthroscopes to help maintain positive market growth over the next five years. Instead of purchasing a scope up front as a piece of capital equipment, European health care facilities are increasingly purchasing arthroscopes as part of a multi-year endoscope service contract. Leasing and long-term agreements without up-front costs have become more attractive to facilities as capital equipment expenditures decreased following the economic downturn. For endoscope manufacturers, these new purchasing and leasing options will continue to generate revenues by minimizing company losses to third-party endoscope refurbishing companies.
"Endoscope servicing and exchange programs -- such as the KARL STORZ's EndoProtect1 Programs, Stryker's Total Advantage Service and Maintenance Programs, and Smith & Nephew's AGILE-CARE Instrument Services -- are ways for companies to retain customers and gain new customers," says Kai Tuomi, Analyst at MRG. "Service agreements include options such as free loaners, staff training, unlimited repairs, technical support, on-site pickup and delivery, and on-site repairs. Free loaners that can be made available immediately, along with quick turnaround time on repairs, are important factors allowing hospitals to maximize their procedure volumes. By creating these service products for clients, manufacturers are able to reduce the burden health care facilities face when purchasing capital equipment up front, and are able to lock in clients for long-term contracts for both arthroscope purchases and servicing arrangements."
MRG's European Markets for Arthroscopy Devices 2011 report provides critical insight into trends that will fuel and limit market growth for arthroscopy devices in Europe, with coverage of France, Germany, Italy, Spain, and the UK. The report includes a breakdown of unit volumes, average selling prices, and market values for powered shaver disposables, fluid management disposables, radiofrequency probes, arthroscopes, and hand instruments used in arthroscopic procedures to treat injuries within the joints. In addition, the report provides an extensive breakdown of arthroscopic procedures as they relate to the knee, shoulder, ankle, wrist, elbow, and hip joints.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group