WALTHAM, Massachusetts, November 17 /PRNewswire/ --
According to Millennium Research Group's (MRG's) Europe II Markets for Peripheral Vascular Devices report, covering Spain, Switzerland, Benelux, and Nordic countries, health care reforms have limited the adoption of covered stents in peripheral vascular applications.
While covered stent penetration is nearly 15% in the US, these devices account for less than 5% of stents placed in Europe II because physicians often cannot justify the price premium commanded by these devices.
The adoption of diagnosis-related group (DRG)-type reimbursement systems in several Europe II countries demonstrates public sector funding constraints in light of escalating health care costs. Although DRG systems vary, all countries implementing these systems place restrictions on reimbursement fees depending on patient diagnosis.
Given that DRG systems are used to contain costs, says Stephanie LaBelle, Senior Analyst at MRG, device manufacturers are concerned these systems will negatively affect the adoption of premium-priced technologies. For example, covered stent use in the Europe II countries, particularly those with DRG systems, is minimal because reimbursement is not sufficient for the higher device costs.
MRG's Europe II Markets for Peripheral Vascular Devices report provides coverage of key industry competitors, including Abbott Vascular, B.Braun, Bard Vascular, BIOTRONIK, Boston Scientific, Cook Medical, Cordis, Datascope, ev3, Medtronic, OptiMed, Terumo, and W. L. Gore. MRG's regional coverage includes US, Europe, Japan, and Canada, with forthcoming publications covering Asia Pacific and Latin America.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.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 published reports, ongoing Marketrack(TM) projects, 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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