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New Policies of GPO’s Help Smaller Companies Gain Shares in the Wound Closure Device Market - New analysis from Frost & Sullivan, U.S. Wound Closure Devices Market, reveals that revenue in this market totaled $1.55 billion in 2004 and can reach $2.28 billion in 2011.
New Policies of GPO’s Help Smaller Companies Gain Shares in the Wound Closure Device Market

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2005/09/28 - New analysis from Frost & Sullivan, U.S. Wound Closure Devices Market, reveals that revenue in this market totaled $1.55 billion in 2004 and can reach $2.28 billion in 2011. .

   
 
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Large companies maintain a hold on the U.S. wound closure devices market, cutting out smaller participants.

Large participants control this market by offering lower-priced products through large-volume discounts. As a result, smaller manufacturers are challenged to introduce products or increase market share. However, recent loosening by group purchasing organizations (GPOs) is empowering smaller manufacturers through non-exclusive agreements with buyers. This new approach offers smaller companies a chance to improve their market presence.

New analysis from Frost & Sullivan (medicaldevices.frost.com), U.S. Wound Closure Devices Market, reveals that revenue in this market totaled $1.55 billion in 2004 and can reach $2.28 billion in 2011.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the U.S. Wound Closure Devices Market, then send an e-mail to Danielle White, Corporate Communications, at dwhite[.]frost.com, with the following information: your full name, company name, title, telephone number, fax number, and e-mail address. Upon receipt of the above information, an overview is will be sent to you by e-mail.

Previously, GPOs held exclusive contract agreements with manufacturers, placing power firmly in the hands of large manufacturers that bundled products, thereby hampering the entrance of new participants.

“Small manufacturers had to compete for contracts from hospitals and distributors that preferred extensive product lines to minimize the number of manufacturers they had to deal with,” says Frost & Sullivan Research Analyst Sheila Ewing.

Small manufacturers had difficulty gaining attention from hospitals and distributors, even though they could not offer extensive product lines.

GPOs have empowered smaller manufacturers by loosening their strict policies for exclusive agreements with buyers. Non-exclusive contracts allow smaller manufacturers to more easily enter this market by promoting specialized products.

Moreover, purchasing agents are not bound to certain manufacturers, allowing them to buy products that fit the needs of the hospital.

These changes stem from hospitals intense focus on cutting costs and reducing inventory. Due to this, manufacturers and distributors are compelled to deliver products more frequently.

“Distributors are looking to simplify their distribution process as they try to juggle the increased delivery demands,” notes Ewing. “In order to have less deliveries and interactions to manage, they are reducing the number of clients they deal with.”

This is pushing smaller manufacturers out of distributor relationships because of their weaker ties with major distributors and lower number of products. This loss of unit shipment and higher cost of product delivery further cuts into their profit margins.

However, this situation can be remedied if small and emerging participants target niche markets. Niche participants can gain acceptance in the market by focusing on specialized instruments to meet clinicians’ needs. Although specialized devices often demand higher average sales price, expertise in highly sophisticated products allow new entrants to penetrate this market.

U.S. Wound Closure Devices Market is part of the Medical Devices subscription. This Frost & Sullivan study examines the competitive factors and projected market growth in the U.S. wound closure devices market. This service segments the market into sutures, staplers, ligating clip appliers, and strips. Highlights within this research service include major drivers, restraints, challenges, market and technology trends for existing and emerging participants. Analyst interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.

U.S. Wound Closure Devices Market
F387

Contact:

Katja Feick
Corporate Communications – Europe
P: +44 (0) 20 7915 7856
F: +44 (0) 20 7730 3343
E: katja.feick[.]frost.com

Radhika Menon Theodore
Corporate Communications – Asia Pacific
P: +91 44 24314263 Ext: 312
E: rmtheodore[.]frost.com

Surbhi Dedhia
Corporate Communications – India
P: +91 22 2832 4705 Ext: 131
E: sdedhia[.]frost.com

Keywords in this release: wound closure devices, U.S., group purchasing organization, GPO, sutures, staplers, ligating clip appliers, strips, absorbable sutures, non-absorbable sutures, research, information, market, trends, technology, service, forecast, market share

 
 
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New Policies of GPO’s Help Smaller Companies Gain Shares in the Wound Closure Device Market

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Publisher Contact: Danielle White 
210.247.2403 dwhite[.]frost.com
 
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