DATA POINTS

Guidepoint Qsight provides actionable intelligence from our customized approach to data. Learn more about the high-level insights and trends we are monitoring.

Strong Growth Trends for Non-Surgical Medical Aesthetics Treatment Sales

May 24, 2021

Guidepoint Qsight’s data captured a surge in spending on non-surgical medical aesthetics treatments in March and April 2021.

Neurotoxins, dermal fillers, and non-surgical skin tightening reached unprecedented levels in March 2021 with a continued strong growth trend into April, according to Qsight’s aesthetics point-of-sale data.

Younger patients are contributing more to the 2021 aesthetic sales spike than patients over 60. In March and April 2021, spending by patients less than 40 years of age increased by +84.2% over the same months in 2019.
Conversely, sales by patients over 60 years of age decreased slightly (-1.2%).

A little more than half of aesthetics sales come from patients between 41-60 (51.4% in 2021)
Younger patients (under the age of 40) contributed the most to the 2021 sales spike, growing their share of aesthetics sales by +8.6%, which could signal a longer-term trend of patients getting aesthetics procedures at younger ages.

Based on commentary from our proprietary panel of medical aesthetics practitioners, the strong demand in aesthetics procedures may be attributable to stimulus checks, an increase in disposable income, high demand going into post-COVID summer, or a mixture of all the above.

The question remains if this is a passing “perfect storm” or if this surge represents a bellwether for the multibillion-dollar industry for a new era of higher spending on medical aesthetics treatments in the U.S. by a younger demographic.

For more information about this analysis, and the trends we are seeing by practice type, treatment categories, gender, etc., contact us here.

Post created by: Travis Deseran, Director of Quantitative Research, Guidepoint Qsight and Shimul Sheth, Senior Quantitative Analyst, Guidepoint Qsigh

Medical Aesthetics Market Intelligence from Qsight’s New Dataset

April 7, 2021

Guidepoint Qsight is excited to announce the launch of a new Medical Aesthetics market intelligence offering where you can track the latest trends in the U.S. Medical Aesthetics space with insight into several categories, including Neurotoxins, Dermal Fillers, Non-Surgical Fat Reduction, Skin Tightening, Hormone Replacement Therapy, and several more.

We’ve used our Medical Aesthetics dataset to take a closer look at how the industry has changed since COVID-19.

Medical Aesthetics sales dropped 75% year over year in April 2020, as non-urgent and elective medical procedures took a backseat to COVID-19 patients.
As physician facilities and med-spas reopened in June 2020, aesthetics sales surged higher than pre-COVID-19 lockdown levels due to the increased demand of backlogged patients.

While the aesthetics market is currently experiencing double-digit growth levels, there are still several questions that remain:

Is this momentum in growth going to sustain long term?
How did the patient demographics change after the initial COVID-19 lockdown (age, gender, geographic region, and procedure preferences)?
What impact did COVID-19 have on total sales volume, and how did it impact the market share by company and procedure type?

Find out the answers to these questions and more using Qsight’s Medical Aesthetics dataset. Contact us for more information.

The above is based on Qsight’s new Medical Aesthetics dataset that analyzes over $500M in sales from over 1M transactions per year from hundreds of MedSpas and physician practices in the United States.

Post created by: Travis Deseran, Director of Quantitative Research, Guidepoint Qsight and Shimul Sheth, Senior Quantitative Analyst, Guidepoint Qsight

Neurology Medical Devices Share Shifts

March 23, 2021

Guidepoint Qsight’s healthcare facilities purchasing dataset provides insight into market share shifts in the neurology space from 2019 to 2020.

The dataset includes products used for neuromodulation, pain management, and interventional neurovascular procedures.

When looking at medical device purchasing trends, three manufacturers in the space have experienced the largest shifts in market share:

Despite a drop of 2.5 points in market share, Medtronic continues to lead the neurology medical device market, making up over half of the overall market share in the space.
Our data showed Stryker’s Neurotechnology and Spine segment gained 1.88 points in market share in 2020.
Inspire Medical Systems saw strong growth in the second half of 2020 due to backlogged implant procedures and the opening of new implanting centers, leading to a market share gain of nearly 1 point.

The above is based on Qsight’s healthcare facilities purchasing dataset that analyzes over $26.2B from 14 players in medical devices across a panel of close to a thousand distinct healthcare facilities and hospitals.

Post created by: Shimul Sheth, Senior Quantitative Analyst, Guidepoint Qsight

Cardiology Medical Devices Share Shifts

March 3, 2021

Guidepoint Qsight’s healthcare facilities purchasing dataset provides insight into market share shifts in the cardiology space from 2019 to 2020.

The dataset includes interventional cardiology (cardiovascular devices, advanced circulatory support devices, heart valve repair/replacement systems), cardiac rhythm management, and electrophysiology segments.

Edward’s Lifesciences, Abbott Labs, Medtronic, and Boston Scientific are leading competitors in the interventional cardiology space.
The cardiac rhythm management market is dominated by Medtronic, Abbott Laboratories, and Boston Scientific.
Electrophysiology makes up the smallest percentage of cardiology device spend share, with Johnson & Johnson as the leader in the space.

When looking at medical device purchasing trends, the top three manufacturers in the space have experienced the largest shifts in market share:

Medtronic saw a downward shift of half a percent (0.51%) but is maintaining its place as the leader in the space with more than 30% of the overall cardiology market share.
Competing in multiple subsegments, Abbott Laboratories saw a decline in market share (-1.21 points) from 2019 to 2020 across all subsegments.
Edwards Lifesciences (EW), a top manufacturer in international cardiology, saw a positive shift in market share, gaining 1.26 points in market share in 2020 compared to 2019, despite a year-over-year decline of 7% in medical device purchasing in interventional cardiology.

Post created by: Shimul Sheth, Senior Quantitative Analyst, Guidepoint Qsight

2021 Outlook: COVID-19’s Impact on Procedure Volumes

January 20, 2021

With COVID-19 continuing to create uncertainty, Guidepoint Qsight has gathered insights from U.S. physicians across healthcare markets on their expected change in procedure volumes at their facility in 2021.

Collectively, over half of all physicians believe they will see higher procedure volumes in 2021 than they did in 2020.

The Aesthetics market has the highest hopes for a rebound, with 63% of physicians expecting an increase in procedure volume in 2021 and only 17% expecting a decrease.

Physicians in the Musculoskeletal Market are more divided in their volume expectations for 2021, with an average of 55% expecting an increase in procedure volumes and 35% expecting a decrease.

Interventional Cardiology and Cardiac Rhythm Management physicians are the least likely to expect a decrease in their 2021 procedure volumes, with 41% on average expecting 2021 to be about the same as 2020.

The above is based on primary survey data gathered from a proprietary panel of physicians from 300+ unique healthcare sites performing medical procedures on a monthly basis. To learn more about Qsight’s insight into recent trends amid COVID-19, click here.

Post created by: Harsh Trivedi, Senior Healthcare Analyst, Guidepoint Qsight, Travis Deseran, Director of Quantitative Research, Guidepoint Qsight and Shimul Sheth, Senior Quantitative Analyst, Guidepoint Qsight

COVID-19’s Effect on Med Device Manufacturers

December 9, 2020

Since the onset of COVID-19, Guidepoint Qsight’s healthcare facilities purchasing dataset has been capturing the effects of the pandemic on several medical device manufacturers.

As expected, as U.S. COVID-19 cases rose, healthcare facility purchasing declined. While all manufacturers saw a dip in healthcare facility purchasing in April 2020, some companies were able to rebound better than others.

The Leaders:

Inspire Medical Systems (INSP): While Inspire was negatively impacted by COVID-19 in the first half of 2020, we observed strong growth in spending in the second half of the year. The rebound can be attributed to the resuming of procedures that backlogged because of the pandemic. Also, Inspire Medical Systems announced multiple coverage policies with various healthcare insurance providers, such as Cigna, Blue Cross Blue Shield, and Humana, increasing the number of patients and physicians that can have access to Inspire’s sleep apnea therapies.

Livanova (LIVN): According to Qsight’s healthcare facility purchasing dataset, Livanova’s total spend tracks closely with new U.S. COVID-19 cases due to the FDA’s authorization of Livanova’s Advanced Circulatory Support products for use in Extracorporeal Life Support to treat people with severe cases of COVID-19 in April 2020. Livanova’s other products, in both the cardiovascular neuromodulation businesses, saw a decline in healthcare facility purchasing related to the impact of COVID-19 on procedure volumes.

Penumbra (PEN): Penumbra’s year-over-year growth was positive during the second half of the year, seemingly unaffected by the rising case count of COVID-19 in the U.S. This is mainly due to Penumbra’s Indigo System for vascular thrombectomy as well as the unprecedented strong performance of the Lightning 12 system launch in July.

Qsight - Data Points 12.9.20 (Challenge)

The Fighters:

Abiomed (ABMD): Despite Abiomed showcasing a positive year-over-year growth in June and July of 2020, our dataset indicates a steady decline in purchasing. In their earnings, management stated that High-Risk PCI (more elective) declined 8% in 3Q20, while cardiogenic shock (more emergent) increased 1%. The data implies that the resurgence of COVID-19 has put a pause on the recovery.

Edwards (EW): Focusing on TAVR, Edward’s significant year-over-year growth in 4Q19 set a difficult comparison for growth this year. With most of the backlogged procedures already worked through, Edwards must rely on new patient referrals, which are currently negatively impacted by the surge in new COVID-19 cases, as well as increased hospitalizations.

Intuitive Surgical (ISRG): Demand for robotic-assisted surgery has been growing in recent years, however, the COVID-19 pandemic has significantly disrupted Intuitive’s business. Our data is showing healthcare facility purchasing declines in October, which could be attributed to the increase in new U.S. COVID-19 cases. Additionally, the launch of the extended use instrument program, which increased the number of uses of many da Vinci instruments, reduced the price-per-use on core instruments but also caused a decrease in the number of sales.

Post created by: Shimul Sheth, Quantitative Analyst, Guidepoint Qsight

Growth in the U.S. Peripheral Thrombectomy Market

November 11, 2020

Guidepoint Qsight has been tracking the U.S. Peripheral Thrombectomy market, capturing a growth rate of +56.6% from 3Q19 to 3Q20.

Qsight Data Point - Peripheral Thrombectomy (2)

Following the launch of the Indigo Lightning 12 catheter, Penumbra’s market share grew 6 points (31.5% in 3Q19 vs. 37.5% in 3Q20).

In just one year, Inari Medical, the newest player in the market, grew its share to 29.7%, rapidly capturing nearly a third of the market as of September 2020.

Boston Scientific and BTG were historically the two major players dominating the peripheral thrombectomy market, with Boston Scientific acquiring BTG in 2019. However, Inari and Penumbra combined have managed to eclipse Boston Scientific.

The above is based on Qsight’s healthcare facilities purchasing dataset analyzing over $62M from the three dominant players in the U.S. Peripheral Thrombectomy market across a panel of over 500 distinct healthcare facilities and hospitals.

Post created by: Kenny Dolgin, VP of Quantitative Research, Guidepoint Qsight & Shimul Sheth, Quantitative Analyst, Guidepoint Qsight

The Aesthetics Landscape Amidst COVID-19

October 19, 2020

Following temporary bans on elective procedures earlier this year due to the COVID-19 pandemic, Guidepoint Qsight was able to capture the effects on aesthetics volumes.

Following the sharp declines in March-May, Breast Implant procedures resumed with a tremendous amount of backlog and rebounded back to pre-COVID-19 levels in June 2020 and even accelerating to a growth of nearly 15% at the end of September 2020, defying traditional seasonal trends.

Dermal fillers and neurotoxins also seemed to be on a track to recovery, however, total U.S. aesthetic injection volumes were down year-over-year by approximately 15% in September 2020.

The question remains if Breast Implant procedures will continue to hold this level of growth and if the decline in dermal fillers and neurotoxin injections will continue long term.

The above is based on primary survey data gathered from a proprietary panel of physicians from 130+ unique healthcare sites performing aesthetics procedures on a monthly longitudinal basis. To learn more about Qsight’s insight into recent aesthetics trends, check out the Medical Aesthetics TRACKER Alert – October 2020.

Post created by: Shimul Sheth, Quantitative Analyst, Guidepoint Qsight & Sean Sookhoo, Senior Healthcare Analyst, Guidepoint Qsight

COVID-19’s Impact on MedTech

September 30, 2020

Guidepoint Qsight has been monitoring the number of U.S. COVID-19 cases per capita reported by state in 2Q20 and the relationship to changes in healthcare facility medical device purchasing.

Qsight - COVID-19 vs Medical Device Purchasing (State Level)

In general, states with more COVID-19 cases saw a more drastic decline in medical device purchasing. States that had fewer cases per capita are seeing a lesser decline in medical device purchasing.

Qsight - COVID-19 vs Medical Device Purchasing (Overview)

When taking a closer look, U.S. medical device purchasing spend plummeted about -60% year-over-year during the start of the pandemic. As the growth in COVID-19 cases began to slow, there was a slight rebound in healthcare facility purchasing; however, with the rapid rise in new case count in July, purchasing began to decline again.

The above is based on Qsight’s healthcare facilities purchasing dataset analyzing over $12B from the top 21 players in medical devices across a panel of close to a thousand distinct healthcare facilities and hospitals.

References:
U.S. Census Population: https://www.census.gov/data/tables/time-series/demo/popest/2010s-state-total.html
U.S. Covid-19 Cases: https://data.cdc.gov/Case-Surveillance/United-States-COVID-19-Cases-and-Deaths-by-State-o/9mfq-cb36/data