iData Research recently completed a detailed SKU-level analysis on the U.S. market for orthobiologics. The analysis includes an overview of the companies and products for the following segments: bone graft substitutes, cellular allografts, and growth factors. In addition, our analysis includes revenue, units sold, revenue share, unit share, and average selling prices (ASPs). Because over 25 companies are included in our bone graft substitutes (BGS) SKU analysis, we decided to narrow in on this segment with a specific focus on the demineralized bone matrix segment. Based on the data, revenue decreased in the fourth quarter of 2021. Despite this, the market was able to increase into Q1 ‘22, surpassing Q3 ‘21.
Overall, the revenue generated from the 27 companies competing in the demineralized bone matrix market analysis exceeded $180 million by the end of the first quarter in 2022. Despite the seemingly large number, this value was only slightly larger than the overall revenue generated throughout the fourth quarter of 2021. 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 plummeted in the second quarter of 2020. Fortunately, units sold and revenue were able to recover into the third quarter of 2020. However, the market has yet to surpass the $185 million mark and the revenue has remained steady at $184 million since Q3 ‘21.
DEMINERALIZED BONE MATRIX BRAND ANALYSIS
iData’s analysis covers over 150 brands offered by over 25 different companies. Because of this, we chose to focus on the top 3 companies and brands for the analysis including: Biocomposites, MTF, and Medtronic.
Biocomposites offers two products in the demineralized bone matrix market. Firstly, the company’s Stimulan Rapid Cure, which accounted for the majority of revenue and revenue share internally. The other product offered by Biocomposites in this market, being the Stimulan Kit, lags behind in sales volume and revenue. Biocomposites offers its Stimulan Rapid Cure demineralized bone matrix product at a high ASP, compared to the ASP of the company’s Stimulan Kit, which could explain why it has generated significantly higher revenue in Q1 ‘22.
In the demineralized bone matrix segment our analysis looked at the details for 10 major products offered by MTF: Conform Cube, Conform Flex, Conform Sheet, DBX Inject, DBX Mix, DBX Paste, DBX Putty, Demineralized Cortical Fiber, Demineralized Cortical PowdER, and Enhance Demineralized Cancellous Chips. MTF’s DBX Putty obtained the largest revenue share and revenue, in comparison to the other products offered by MTF, in the first quarter of 2021.
Lastly, in the same market segment, Medtronic competes and offers 14 different products including: Accelerate Grafton DBF, Grafton Crunch, Grafton DBF, Grafton DBF Inject, Grafton Flex, Grafton Gel, Grafton Matrix PLF, Grafton Matrix Plugs, Grafton Orthoblend, Grafton Plus Paste, Grafton Putty, Grafton Strips, Magnifuse, and Magnifuse II Bone Fibers. Out of all of Medtronic’s products, Magnifuse generated the largest revenue and held the highest revenue share in Q1 ‘22.
WHICH DEMINERALIZED BONE MATRIX BRAND LEADS?
(Based on revenue, revenue share, and units sold in Q1 ’22)
Overall, Biocomposites was able to generate just under 20% of the total revenue. MTF and Medtronic, on the other hand, were able to generate similar amounts to each other, however, both were lower than Biocomposites total. In terms of units sold, MTF’s DBX Putty sold almost as many units as Biocomposites Stimulan Rapid Cure despite grossing near;y half of the revenue that Biocomposites grossed in Q1 ‘22. due to average selling prices (ASPs). Biocomposites sells their Stimulan Rapid Cure at almost double the price of MTF’s DBX Putty, allowing the company to generate significantly higher revenue with equivalent units sold. Medtronic fell behind in terms of units sold and therefore had the lowest amount when compared to the other two companies.
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MedSKU (™) is an accurate brand-level custom solution from iData. MedSKU provides a level of detail for a go-to strategy of medical device companies of any size. The analysis of high-speed drills is 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.