According to GlobalData, REDAPT is one of 431 product lines sold in the US hip reconstruction market; these product lines are sold by 35 different manufacturers. The average selling price for REDAPT decreased in hospitals, decreased in health systems, and increased outside of hospital facilities in 2022. The price of the REDAPT device can be viewed in GlobalData’s micro pricing report and can be retrieved according to purchase date, facility type, bed size, and geographical region. Buy the report here.
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The selling price or list price of a medical device is driven by numerous factors, such as therapy area and complexity of procedure, level of reimbursement, development costs, the number of competing manufacturers, product life cycle, and whether there have been any recent new technology or product launches.
In addition, the final selling pricing of medical devices is also impacted by the discounting policy of the manufacturer. Companies such as Smith & Nephew apply discounts for their devices based on their internal business strategy, inventory control, and monthly or quarterly sales targets. In addition, sale location can also affect the final selling price of a device, both in terms of geographical region and facility type. Prices for the same medical device often vary in hospitals and health systems versus outside of hospital facilities, for example if high volume healthcare institutions can negotiate discounts or rebates based on large purchase sizes.
Smith & Nephew overview
Smith & Nephew Plc (Smith & Nephew) is a medical technology company that is engaged in the development, manufacturing, and marketing of medical devices for use in orthopaedic reconstruction and trauma, sports medicine, ENT and advanced wound management. The company offers knee and hip implants to replace diseased, damaged, or worn joints; robotics-assisted technologies; and trauma related products to stabilize fractures and deformity correction procedures. It also offers products and instruments used to repair and remove soft tissue and wound care products. Smith & Nephew offers its products to surgeons; nurses and nurse specialists; physicians and general practitioners; and purchasing professionals in hospitals and healthcare insurers. The company markets products across Europe, North America, Asia Pacific, the Middle East, and Africa. Smith & Nephew is headquartered in Watford, Hertfordshire, the UK.
For a complete picture of REDAPT, Hip Reconstruction pricing in the US, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Medical Intelligence Center Market Models are the gold standard of medical device market valuation, company share estimation and market trend forecasting. GlobalData uses a patient-based forecast model or installed base methodology to determine the market size for therapeutic indications and capital equipment expenditures. Estimates are based on a number of sources, including primary research—KOL and industry contact interviews—and secondary research, such as company reports, press releases, published articles, proprietary databases, and general news media.
