WALTHAM, Mass., July 22 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, Medtronic Spinal & Biologics, which has dominated the US vertebral compression fracture treatment market for over 10 years, now faces its stiffest competition as new entrants and new products enter the US market.
In a survey of 200 US physicians, MRG found that Medtronic Spinal & Biologics, Orthovita, and Cook Medical, on average, scored the highest on studied loyalty metrics: customer satisfaction, brand advocacy, repurchase intention, and perceived value. Other companies in the survey included ArthroCare, CareFusion, DePuy, DFine, Osseon Therapeutics, Spine Wave, and Stryker Interventional Spine.
“Because customer perceptions ultimately influence purchasing behavior, the fact that Orthovita scored near the top with Medtronic gives us a strong indication that Orthovita’s revenues stand to grow over the next few years,” says Kevin Flewwelling, Manager of the Orthopedics division at MRG. “Similarly, now that CareFusion’s AVAmax vertebral balloon and Stryker Interventional Spine’s iVAS Inflatable Vertebral Augmentation System are available, physicians finally have a choice of vertebral augmentation products. Although our Q2 2010 Perception Pulse study was conducted just before these new vertebral augmentation systems hit the market, we suspect these two companies will pose an even greater threat to Medtronic’s market share because their vertebral augmentation products are sold at a lower price than Medtronic’s KyphX balloon kyphoplasty system. Now that both companies offer a vertebral augmentation as well as a vertebroplasty system, purchasers have a single vendor offering products for all their vertebral compression fracture treatment needs.”
MRG’s US Vertebral Compression Fracture Treatment Perception Pulse product surveys orthopedic surgeons, neurosurgeons, interventional radiologists, interventional neuroradiologists, pain management specialists, and physical medicine and rehabilitation specialists twice a year to determine physician perceptions of vertebral compression fracture treatment companies and their products. Perception Pulse allows companies to see the derived importance of various perception attributes, defined as product and company features that influence loyalty behavior and purchasing decisions.
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 health care sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer behavior tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources, Inc. at www.DecisionResourcesInc.com.
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