TORONTO, Oct. 27 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the European arthroscope market generated over $30 million in 2010. Revenues, however, remained relatively flat over 2009 due to decreasing scope prices and greater market penetration of refurbished scopes.
Due to unfavorable economic conditions, manufacturers are being forced to promote creative options for purchasing arthroscopes to help maintain positive market growth over the next five years. Instead of purchasing a scope up front as a piece of capital equipment, European health care facilities are increasingly purchasing arthroscopes as part of a multi-year endoscope service contract. Leasing and long-term agreements without up-front costs have become more attractive to facilities as capital equipment expenditures decreased following the economic downturn. For endoscope manufacturers, these new purchasing and leasing options will continue to generate revenues by minimizing company losses to third-party endoscope refurbishing companies.
"Endoscope servicing and exchange programs -- such as the KARL STORZ's EndoProtect1 Programs, Stryker's Total Advantage Service and Maintenance Programs, and Smith & Nephew's AGILE-CARE Instrument Services -- are ways for companies to retain customers and gain new customers," says Kai Tuomi, Analyst at MRG. "Service agreements include options such as free loaners, staff training, unlimited repairs, technical support, on-site pickup and delivery, and on-site repairs. Free loaners that can be made available immediately, along with quick turnaround time on repairs, are important factors allowing hospitals to maximize their procedure volumes. By creating these service products for clients, manufacturers are able to reduce the burden health care facilities face when purchasing capital equipment up front, and are able to lock in clients for long-term contracts for both arth
|SOURCE Millennium Research Group|
Copyright©2010 PR Newswire.
All rights reserved