In the rapidly evolving cardiovascular, peripheral vascular and neuroendovascular segment, non-clinical hospital staff must stay informed on market trends and new devices hitting the market.
"The cardiovascular, peripheral vascular and neuroendovascular market is dynamic with revolutionary devices regularly securing FDA approval. With each device, patient care is improved, but at a significant cost to the hospital," said Craig Lukowski, director, Physician Preference Contract Services. "Adding to the dynamics is the changing payer model which will have significant impact on the hospital and medical device utilization."
Understanding what products are coming allows health care organizations to appropriately plan for their use. Vizient’s quarterly Technology Watch was developed to be a resource for service line and supply chain professionals. It gives them the information they need to talk with physicians and clinicians about current and new products. This type of dialogue is important as it facilitates collaboration on use, clinical benefits and cost prior to a device showing up at the hospital.
"The treatment of problems with arterial blood flow continues to be the largest segment in the peripheral vascular device market with an annual growth rate of 4 to 6 percent. Drug-coated balloons have emerged as one of the fastest-growing products in this segment based on positive clinical data, availability of outpatient reimbursement and a ‘new technology’ add-on payment for inpatient procedures," said Lukowski.
A new issue of Technology Watch, focused on coronary, peripheral and neurovascular devices, will be published March 17. Other insights include:
Peripheral stents comprise the largest segment of the peripheral market, accounting for 20 percent of devices. At least three new competitors are currently conducting clinical trials of drug-coated balloons in support of applications for FDA approval.
Stroke therapy is emerging as the next vascular frontier. As the orthopedic suppliers have acquired neuroendovascular device companies, pricing strategies have emerged focused on premium pricing. Strong physician preference and supplier relationships make pricing control challenging.
The coronary stent market will be at the forefront of change in the coming year. The need to utilize medical devices that can increase the chances of keeping patients out of the hospital longer and demonstrate to payers improved economic/outcomes data are driving them to look at product procurement differently.
Learn more about the changing landscape in innovative vascular technologies and gain insights into the most recent findings from Vizient’s cardiovascular experts during the upcoming webinar, Advances in Coronary, Peripheral and Neurovascular Devices on Thursday, March 17.
All registrants for the webinar will receive a post-webinar email with a link to the Webex video and a link to the Vizient Technology Watch report.