Both the Medical Surgical (med-surg) and Clinical Laboratory (clin-lab) product segments in healthcare grew in the third quarter of this year based on new reports from Global Healthcare Exchange, LLC (GHX) and the company’s GHX Market Intelligence data. According to the company’s findings, clin-lab grew 8.1 percent and med-surg grew nearly 5 percent in Q3 2015 over results from the previous year’s Q3 results. Additionally, Q3 2015 dollar volume of the clin-lab segment totaled $1.87B, up 2 percent from $1.83B in the previous quarter. The dollar volume of the med-surg segment totaled $8.81B in Q3 2015 growing 2.8 percent from $8.57B in Q2 2015.
The newly released GHX Market Intelligence quarterly market reports are based on data from the top 20 U.S. healthcare distributors, representing 75 percent of all distributed healthcare sales in the United States. This represents $40B+ invoice dollars and 100M invoice lines of distributed sales for medical surgical and clinical laboratory products and supplies annually.
"The third quarter product results are good news for healthcare with solid growth across most product categories," said Tina Vatanka Murphy, senior vice president, Global Product and Corporate Development. "This market growth is consistent with recent reports from the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS) on overall healthcare growth of 5.3 percent. What makes the GHX Market Intelligence solution so critical to healthcare manufacturers and distributors, is that it gives the industry one of the first indications of market trends, market share growth or contraction, and geographically relevant insights for med-surg and clin-lab product categories."
The complete Clinical Laboratory Segment and Medical Surgical Segment Q3 2015 reports are available at GHX Market Intelligence. Highlights from the third quarter 2015 GHX Market Intelligence reports include:
Clinical Laboratory Segment
Clinical Laboratory Volume (dollar volume by market segment):
Total Clinical Laboratory Market Quarterly:
Medical Surgical Segment
Medical Surgical Volume (dollar volume by market segment):
Total Medical Surgical Market Quarterly
GHX Market Intelligence methodology and processes have been in existence for nearly 20 years, being refined and optimized to be the most accurate and complete source for market size and market share reporting for Clinical-Laboratory and Medical-Surgical. Each month, GHX receives data from the top 20 U.S. healthcare distributors. The distributed sales information then goes through a rigorous process where the data is standardized, normalized and classified, using GHX proprietary algorithms, nomenclature and credentialed professionals.
Global Healthcare Exchange, LLC (GHX) drives costs out of healthcare with cloud-based supply chain management technology and services in order to help enable better patient care and savings by maximizing automation, efficiency, and accuracy of business processes. GHX offers healthcare providers and suppliers an open and neutral electronic trading exchange that delivers procurement and accounts payable automation, contract and inventory management, vendor credentialing and management, business intelligence, and other supply chain-related tools and services. For more information, visit www.ghx.comand The Healthcare Hub.