Medical device companies have lost confidence in the market, according to a recent Millennium Research Group index, and confidence levels hit a two-year low of -10.6 in the third quarter, according to a MassDevice report.
The index calculates confidence levels of healthcare facilities based on the national economy, the facility's financial health and its procedure volume outlook in three areas: cardiovascular, orthopedics and facial aesthetics. These three areas are used to predict confidence levels for the rest of the industry. The biggest decrease came in the cardiovascular industry where the score dropped from 1.5 in the second quarter to -16.1 in the third quarter. MRG attributed this drop to the ongoing controversy with ICDs and the U.S. Department of Justice investigation.
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The index calculates confidence levels of healthcare facilities based on the national economy, the facility's financial health and its procedure volume outlook in three areas: cardiovascular, orthopedics and facial aesthetics. These three areas are used to predict confidence levels for the rest of the industry. The biggest decrease came in the cardiovascular industry where the score dropped from 1.5 in the second quarter to -16.1 in the third quarter. MRG attributed this drop to the ongoing controversy with ICDs and the U.S. Department of Justice investigation.
Related Articles on the Medical Device Industry:
5 Recently Introduced Legislation Affecting the Medical Device Industry
FDA, CDC and AAO to Monitor Cataract Surgery Devices to Stop TASS Outbreaks
Medical Device Industry Spent Almost $32M Lobbying Congress in Third Quarter