Latest news with #medicaldevices
Yahoo
33 minutes ago
- Business
- Yahoo
Penumbra may gain market share in peripheral embolisation coils with Ruby XL
Penumbra has announced US Food and Drug Administration approval for its Ruby XL system, which includes three coils: the Ruby XL, the POD XL and the Packing Coil XL. The Ruby XL coil is a device used in vascular embolisation, a procedure to block or close off blood vessels, and can be used to frame large aneurysms, while the POD XL is designed for use in high-flow vessels and the Packing Coil XL is designed to adjust to the shape of any vessel up to 70cm in length. All Ruby XL system coils can be delivered through a 0.035-inch diagnostic catheter. The system is expected to enable Penumbra to increase its market share in peripheral embolisation coils, according to leading data and analytics company GlobalData. According to GlobalData's US healthcare facility invoicing database, Penumbra currently holds the majority market share for peripheral embolisation coils. Its new coil system allows for peripheral embolisation procedures to be done on a wider range of aneurysm sizes and in longer vessels. If the Ruby XL coil is widely adopted by physicians, Penumbra may be able to capture half the entire market. The approval of the new coil could put a bigger gap between Penumbra and its competitors in the market. Physicians may choose Ruby XL coils for their procedures in order to gain better control of large aneurysms. The Ruby XL system may come with cost savings for consumers as it delivers more volume per coil than other available coils. The average selling price (ASP) of these coils ranges from approximately $900 to $2,000. Already in the middle of this range with its current coils, Penumbra has a competitive advantage for new products. If they come in with a competitive ASP, Penumbra may displace competitor coils for relevant procedures. Penumbra stands to maintain its market lead and possibly increase its market share as the purchasing of the Ruby XL system begins. GlobalData will continue to monitor market trends as purchasing picks up. It is expected that facilities will begin purchasing these coils in June 2025. "Penumbra may gain market share in peripheral embolisation coils with Ruby XL" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
11 hours ago
- Business
- Wall Street Journal
EU to Restrict China's Participation in Medical Devices Procurement
The European Union said it plans to exclude Chinese companies from the bloc's government purchases of medical devices after concluding that EU manufacturers don't have equal access in China, widening trade tensions between Brussels and Beijing. The European Commission, the EU's executive arm, said Friday that the measure will apply to purchases exceeding 5 million euros ($5.7 million). The decision follows the conclusions of the first investigation under the International Procurement Instrument, or IPI.
Malay Mail
12 hours ago
- Business
- Malay Mail
China shut out of EU MedTech contracts in €150b market shake-up
BRUSSELS, June 20 — The EU today banned Chinese firms from government medical device purchases worth more than €5 million (RM24.5 million) in retaliation for limits Beijing places on access to its own market. The latest salvo in trade tensions between the 27-nation bloc and China covers a wide range of healthcare supplies, from surgical masks to X-ray machines, that represent a market worth €150 billion in the EU. 'Our aim with these measures is to level the playing field for EU businesses,' the bloc's trade commissioner Maros Sefcovic said. 'We remain committed to dialogue with China to resolve these issues.' The European Commission said in a statement the move was in 'response to China's longstanding exclusion of EU-made medical devices from Chinese government contracts.' Brussels said just under 90 per cent of public procurement contracts for medical devices in China 'were subject to exclusionary and discriminatory measures' against EU firms. In addition to barring Chinese firms from major state purchases, 'inputs from China for successful bids' would also be limited to 50 per cent, it said. Over the last three years, Brussels and Beijing have come into conflict in a number of economic sectors, including electric cars, the rail industry, solar panels and wind turbines. The decision on medical devices comes at a time of heightened trade tensions with President Donald Trump's United States, which has imposed customs surcharges on imports from all over the world, including Europe. The EU has decided to take a tougher stance on trade in recent years, adopting a vast arsenal of legislation to better defend its businesses against unfair competition. In April 2024, the commission opened an investigation into Chinese public contracts for medical devices, the first under a new mechanism introduced by the EU in 2022 to obtain better access to overseas state purchases. China, on the other hand, accuses Europe of protectionism. After a year of negotiations, the commission, which manages trade policy on behalf of the 27 member states, said it had failed to make any progress with China. 'The measure seeks to incentivise China to cease its discrimination against EU firms and EU-made medical devices and treat EU companies with the same openness as the EU does with Chinese companies and products,' Brussels said. — AFP
Reuters
13 hours ago
- Business
- Reuters
EU bars Chinese firms from most medical device tenders
BRUSSELS, June 20 (Reuters) - The European Union will bar Chinese companies from participating in EU public tenders for medical devices worth 60 billion euros or more ($68.9 billion) per year after concluding that EU companies are not given fair access in China. The measure announced by the European Commission on Friday is the first under the EU's International Procurement Instrument, which entered into force in 2022 and is designed to ensure reciprocal market access. The new restrictions are likely to increase tensions with Beijing inflamed by EU tariffs on China-built electric vehicles, Chinese measures against EU brandy and curbs on exports of rare earths that the EU wants resolved by an EU-China summit in July. The Commission said on Friday that it would exclude Chinese companies from EU government purchases above five million euros. An EU official said, guided by figures of Medtech Europe, the EU medical technology market was worth some 150 billion euros in 2023, with public procurement accounting for a 70% share. Contracts of over 5 million euros were only 4% of tenders, but made up some 60% by value, the official said. Successful bids will have to ensure they include no more than 50% of medical devices from China. If there are no alternative suppliers, the exclusion will not apply. EU members backed the plan earlier this month. The Commission has previously said it found "clear evidence" that China favoured Chinese devices for hospitals and its tender conditions led to abnormally low bids that profit-oriented companies could not offer. A Commission official said the ban would cover medical equipment including imaging equipment, artificial body parts and medical clothing. China's commerce ministry has previously described the proposed EU measures as "protectionist", urging the EU to be fair and transparent and for both sides to resolve differences through cooperation and dialogue. The Commission said China had not proposed any corrective action to remedy the situation, but an agreement was still possible. ($1 = 0.8708 euros)
Bloomberg
13 hours ago
- Business
- Bloomberg
EU to Restrict China's Access to Medical Device Procurements
The European Union will restrict the ability for Chinese medical device manufacturers to access public procurement contracts worth more than €5 million ($5.7 million). The move will restrict Chinese companies from accessing around 60% of the public spending in this field, or around €150 billion, according to an EU official familiar with the plans. The EU will also allow no more than 50% of inputs from China for successful bids.
