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Procurement Market Intelligence Report

Medical Tissue Closures
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Medical Tissue Closures?

What is the average price of Medical Tissue Closures?

This procurement report includes pricing information to help you purchase Medical Tissue Closures. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Medical Tissue Closures been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Medical Tissue Closures yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Medical Tissue Closures?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Medical Tissue Closures with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Although the medical tissue closures market has a number of large operators, such as Medtronic and Johnson & Johnson, which provides its tissue closures through its subsidiary Ethicon, small and midsize companies continue to account for a significant proportion of market share. Furthermore, the top four players account for less... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Supplier Expertise

How many years of experience in medical equipment manufacturing or wholesaling do you have? Do you have thorough knowledge of surgical procedures?

How frequently do you upgrade your facilities? How frequently do you incorporate new technologies?

What clients have you worked with in the past?

What types of medical tissue closures do you specialize in?

Supply Chain

How do you address fluctuating steel prices and the volatile prices of other inputs?

Do you have any supply agreements with raw materials suppliers? If so, how do the agreements help control the risk in your supply chain?

How many suppliers do you source raw materials from?

Have any of your upstream suppliers ever reported product shortages? If so, how did you react?

Have you experienced any input shortages during the coronavirus pandemic? If so, how are you addressing these risks?

Regulation

How have changing regulations affected your operations?

How do changes in regulatory compliance affect your price? Will changes in regulation during the term of a contract affect pricing?

What have you done to address FDA concerns over the safety of medical tissue closures and the number of complications related to these products?

How do you ensure that your customers are aware of changes in regulations?

Service Quality

How flexible are your pickup and delivery times?

How has the coronavirus pandemic affected your ability to staff manufacturing plants, distribution centers, storefronts or customer service operations?

How do you retain qualified staff? What is your employee turnover rate?

What is your best-selling medical tissue closure product (brand and type)?

How often are your facilities inspected?

Product Quality

What quality awards have you won, if any?

What are your product recall statistics?

What have you done to improve your product safety and efficacy during the past three years?

How likely are your products to cause allergic reactions?

To what extent do you collaborate with regulatory agencies, other suppliers or healthcare professionals to improve product quality and safeguard patient safety?

Competition

What are the benefits of working with your company compared with other suppliers?

What is your reputation like among customers and how have you developed it?

How long have your products been on the market? Have there been any side effects or issues with your products?

Do you have any agreements with group purchasing organizations or integrated delivery networks?

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Key elements for every RFP

What should my RFP include?

Project Budget

If one exists, buyers should specify their budget for the desired medical tissue closures and related products and services.

Vendors should provide detailed pricing information, including bulk and bundled discounts.

Buyers should request detailed information about shipping and handling fees.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.

Selection Criteria

Buyers should evaluate potential vendors based on their ability to fulfill the product requirements outlined in the RFP.

Buyers should evaluate potential vendors based on their ability to provide a superior level of customer service as evidenced by references.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should outline the schedule and process for the RFP and project.

Buyers need to include the date proposals are due and when the award will be announced.

Buyers should outline the length and terms of the contract as well as cancelation policy terms.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain for medical tissue closures displays a moderate level of risk. While risk from raw material suppliers is moderate to high, buyers face low risk from industrial machinery and equipment wholesalers. Because these purchases are considered capital investments rather than recurring purchases, they do not pose a significant... Subscribe to learn more.

HIGH

MEDIUM

LOW