Back in 2008, at the height of the financial crisis, many of our clients called us and asked for our take on how the market was doing in general. How closely tied is confidence in medtech to confidence in the economy? How were procedure volumes likely to change?
All good questions we thought they deserved an answer. So our analysts dug through our data and our survey results, looking health care facilities? levels of confidence in the national economy, facility financial health, and procedure volume outlook, and produced our now widely watched Medtech Confidence Index (MCI).
We issue the MCI quarterly. It scores three therapeutic areas: cardiovascular, orthopedics, and facial aesthetics. We felt that those three distinct areas could serve as reliable proxies for the entire market. The MCI remains the only overall measure of medtech industry health.
We've just generated the Q3 2011 MCI. The results
The medtech industry, along with the national economy, is looking at a downturn. After several quarters of growth, the MCI trended negative in Q2, and has continued its slide in Q3. In fact, the MCI score is now lower than what it was in Q3 2009, right as the economy began to recover.