Ultrasound is a technique used in a variety of applications, including diagnostic procedures and catheter placement. Additionally, ultrasounds are minimally invasive and therefore deliver high accuracy at a lower cost to the patient. Visualization during ultrasounds is imperative, and as a result, many use needle guides. Needle guides keep the needle aligned with the ultrasound probe, improving needle visualization, procedure time, and clinical outcomes. Similarly, sterilization during ultrasounds is necessary. As a solution, physicians use ultrasound probe covers to minimize contamination during the procedure.
iData Research recently completed a detailed SKU-level analysis on the U.S. market for needle guides and ultrasound probe covers. The analysis includes an overview of the companies, products, sub-segments, lengths, and widths. In addition, our analysis includes minimum and maximum prices, revenue, units sold, revenue share, and average selling prices (ASPs). Based on the data, revenue and units sold decreased in the first and second quarters of 2020. Despite this, two companies, BD and CIVCO, maintained their dominant stance within this market during COVID-19 fluctuations.
Market Overview
Overall, the revenue generated from over 30 U.S. companies in the needle guides and probe covers market analysis exceeded $25.8 million by the end of the fourth quarter in 2020. Despite the seemingly large number, this value was lower than the overall revenue generated throughout the third quarter of 2020. COVID-19 created market fluctuations, forcing all companies to re-analyze their strategies surrounding the return to pre-COVID levels. Both units sold and revenue for the majority of the 30+ U.S. companies analyzed plummeted in the first quarter of 2020. Fortunately, units sold and revenue were able to recover into the second and third quarters of 2020 before facing another decline in the last quarter of the year.
Ultrasound Needle Guides and Probe Covers Brand Analysis
iData’s analysis covered two brands offered by BD in the needle guide segment. Firstly, the company’s Needle Guide Kit, which accounted for the majority of revenue and revenue share. Secondly, BD offers its Site-Rite Need Guide Kits, which represent a seemingly minor portion of the revenue share. In terms of probe covers, our analysis includes four brands, Endocavity Balloon, Gamma Finder, Site-Rite Probe Cover Kit, and the Vas-Cath. BD’s Site-Rite Probe Cover Kit generated the most revenue and revenue share throughout 2020.
On the other hand, 13 brands in which CIVCO offers were analyzed in the needle guide segment. Some of the brands include the AccuSITE™, Infiniti Plus™, and Ultra-Pro II™ lines. CIVCO’s Ultra-Pro II™ Disposable Replacement Kits obtained the largest revenue share and revenue throughout 2020. The company also offers 25 brands in the probe covers segment including its CIV-Flex™, Intuit™, and Surgi™ brands. The CIV-Flex™ General Purpose Ultrasound Probe Covers generated the greatest revenue by a large margin throughout 2020 and accumulated the majority of the revenue share.
Which Company Leads?
(Based on revenue and revenue share in Q4 ’20)
Overall, BD was able to maintain just under 50% of the total market share. CIVCO, on the other hand, was able to increase its overall market share, accumulating over 50% of the total market. Therefore, CIVCO leads by approximately $300K in the U.S. needle guides and ultrasound probe covers market. Due to the close and competitive nature of this market, many wonder if CIVCO has the ability to maintain its leading position or if BD will take the crown.
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MedSKU (™) is an accurate brand-level custom solution from iData that provides a level of detail for a go-to strategy of medical device companies of any size. The analysis of ultrasound needle guides and probe covers are one of many studies that provide up-to-date data and trends on the ASPs, units sold, unit share, revenue, and revenue shares of the top-performing products in the U.S.
