According to GlobalData, Universal 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 Universal decreased in hospitals, health systems, and outside of hospital facilities in 2022. The price of the Universal 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.
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 Innomed 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.
Innomed Inc (Innomed) is a medical device company that manufactures surgical instruments for orthopedic surgery. The company’s products include retractors, bone hooks, elevators, patient positioners, surgical tools, charnley type tissue needle forceps, cheng biopsy trephine system, hannum grasper, incision aligner, mallet, grafting tools, and measuring aids. It also provides extractors, curettes, ortho caliper, ortho impactors, scissors, wire blender, screw removal, osteotomes, adjustable wrench, spreaders, cartilage grasper, cement packer and trimmers, among others. Innomed offers repair an warranty services. The company markets its products through a network of distributors located in Chile, Belgium, Australia, Argentina, India, Canada, Romania, the Netherlands, Austria, the Middle East, Japan. Innomed is headquartered in Savannah, Georgia, the US.