Plus, FAN thoughts on 2022 Foot and Ankle Market Share
ANNOUNCEMENTS
We are going to try and pump out one FAN newsletter a week for all of 2022. If we don’t have anything worth sending, we won’t force it. Our focus will continue to be on F&A Device News and Market happenings. Next week, expect us to cover several new product launches that occurred in December that went uncovered due to the GSAs.
To keep it fresh, we are hoping for some more interaction with our FANS. We would love to break into some physician, rep, and industry executives commentary and interviews. Also looking at potentially doing some product testing in the FAN lab and maybe a PODCAST.
If you are interested in taking part in any of this this or have an idea, or something new we can feature, please hit us up at footandanklenews@gmail.com
This week we have:
- Comment of the Week
- GOLDEN DEMOBONE AWARD WINNERS (voted by you - the FANs)
- Rotational Bunion Product of the Year
- MIS Product of the Year
- FAN Thoughts on F&A in 2022
FAN COMMENT OF THE WEEK
““Thanks for the newsletter, I enjoy reading it. On a side note, I watched There’s Something About Mary with my son after last week’s video inclusion, what a classic! What is the plan once the demobones are done??”
- Foot and Ankle MD in Dallas
Thank you to everyone who took the time to vote last week.
The response was excellent!
Rotational Bunion Product of the Year Award
and the WINNER is...
TREACE - LAPIPLASTY
In the most heavily participated vote to date, the rotational bunion product of the year goes to the company that created the market – TREACE Medical. Being first and being able to maintain market share with the largest players in the game chasing them is impressive. Will they be able to sustain? Can they introduce additional products to help round out their bag or will Treace go down as the greatest one trick pony since Cartiva? Treace is well positioned financially with their recent IPO and we expect them to invest into new products focusing on MIS and procedural plating systems -
i.e. TREACE ADDUCTOPLASTY
Here is how the final voting landed:
36% - Treace - Lapiplasty
26% - Crossroads – Dynabunion 4D
25% - Stryker – Lapifuse
13% - Paragon28 – Promo
Next award from last week's vote....
MIS Product of the Year
and the WINNER is...
CROSSROADS –
DYNABUNION 4D
Congrats to Crossroads Extremity MINIBUNION 3D for taking home the MIS Hardware. Word on the street is that Crossroads is going to be acquired very soon, this GDA may have just pumped up the asking price. Interest in MIS has grown and will continue to thrive as direct to patient marketing increases, especially in the massive bunion market. If the guy down the street is offering this procedure and patients are happy, word of mouth will follow. This trend will eventually force every foot and ankle surgeon who deals in forefoot procedures to have to seriously look at one of these systems. There is a learning curve, so training opportunities and solid representation will help to push the growth of this market.
Novastep with their innovative PECAPLASTY came in a very close second, keep on charging!
Congrats to all winners this year’s i9nnagual Golden Demobone Awards, we had a lot of fun putting this together and look forward to next year.
Recap of This Year's Winners
Acquisition of the Year – STRYKER & WRIGHT MEDICAL
Innovation in Hardware – OSSIO COMPRESSION SCREW
Soft Tissue Product of the Year – ARTHREX TENO SLIDE
Innovation in TAR – EXACTECH PSI
Rotational Bunion Product – TREACE LAPIPLASTY
Innovation in MIS – CROSSROADS MINI BUNION
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FAN thoughts on 2022 Foot and Ankle Market Share
I recently started watching F1 on Netflix. I previously had no interest in grand prix racing, but the show is fascinating, and I have cranked through season 1 in under a week. Big money, technology, and high-level competition at breakneck speed. Highly recommended if you are looking to binge over the holiday. The series focuses on a behind the scenes look at the work and politics that goes into creating and running an F1 team. There is a massive disparity in investment and resources between the top teams and those who are chasing.
The Leaders – Ferrari and Mercedes are huge organizations, with annual budgets in the 800 to 900 million dollar range. They are expected to produce and win year in and year out. Team Red Bull has had great success in a relatively short period of time by taking chances along with a heavy investment in technology. They are right on the verge of that upper echelon.
Then there is the next level of teams referred to as the Midfield – McLaren, HAAS, Renault, Force India, and a handful of others. Some of the teams are trying to push forward to break through and some legacy teams are trying to remain relevant and stay in the game.
So how does this relate to the foot and ankle market?
Leaders
Theirs to lose: Stryker and Arthrex
Stryker/WMT and Arthrex have full, innovative product lines with an educated and dedicated foot and ankle sales force. Stryker has made a significant investment through acquiring their largest competitor in the space. Will they be able to continue to innovate or will they rest on their laurels and massive contracting power? Will they be able to make any ground in the soft tissue space and protect their TAR market share? For Arthrex, will they get into the TAR, Charcot Frame, or the Nail game anytime soon? Both still have room for growth in 2022 and beyond.
On the verge: Paragon28
Paragon went public in 2021 and continues to pump out products. They have grown their distributor network and hold those entities to exclusivity to their line in most regions. Will they sell to a massive MedTech player looking to get into the foot and ankle space or continue to grow organically through their own innovation?
Midfield
Legacy Players:
Synthes | S&N/Integra | Zimmer/Biomet | Accumed/Osteomed | Orthofix
Through sheer size, contracts, and mergers and acquisitions these legacy players have continued to remain big market share players. One could argue that innovation is severely lacking and the focus on extremity has been an afterthought for these organizations. Who will make a move and commitment to becoming something to talk about in 2022?
Breakthrough Potential:
Treace
DJO
Exactech
Medline
CrossRoads
Novastep
Artelon
In2Bones
Ossio
Medartis
Restor3d
Seal
Metalogix
Aside from DJO, who made major moves in 2021, the remainder of these companies would seem to offer the most unique platforms that could attract serious attention for a potential acquisition or merger to compete on a larger scale in 2022. One possibility would be to team up with a contemporary or another emerging focused specialty company to strengthen their overall market position – Skeletal Dynamics could make an interesting partner.
2022 will be an awesome year for foot and ankle and I anticipate a ton of moves and new technology to keep all of us in the industry busy.
Thanks for reading and have a Happy New Year!
Sincerely,
Bigfoot
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