According to GlobalData, SIMUPLUS is one of 30 product lines sold in the US cardiac valve repair market; these product lines are sold by 5 different manufacturers. The price of the SIMUPLUS 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 Medtronic 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.
Medtronic overview
Medtronic Plc (Medtronic), formerly Medtronic Inc, is a medical technology company that designs, develops, manufactures and markets medical devices and solutions. It offers products for the treatment of heart valve disorders, heart failure, diseases of the coronary artery, aortic, peripheral vascular, venous renal and neurological diseases, spine and musculoskeletal disorders and diseases of the ear, nose, and throat. It also provides biologic solutions for the orthopedic and dental markets. It offers its products to hospitals, third-party healthcare providers, clinics, institutions including governmental healthcare programs, distributors, and group purchasing organizations in Asia Pacific, Europe, the Americas, the Middle East and Africa. Medtronic is headquartered in Dublin, Ireland.
For a complete picture of SIMUPLUS, Cardiac Valve Repair 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.
