Coloplast: Ostomy Competitive & Market Dynamics

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That's somewhat reassuring or informative. Even with your detailed market analysis and better vantage point, you didn't arrive at a different result. From the outside, it seems there are a few factors that might not apply to the entire market but still drive individual company results. As I understand it, compliance plays a role. How many patients actually use all the products they are reimbursed for? Innovation is another factor. It's not like-for-like pricing, but introducing new products can lead to price increases. Upselling accessories is something the company also highlights. What do you make of the impact of these factors on growth?

We were able to track longitudinal data, meaning we could see individual patients' purchasing patterns over time and how much product they were buying. This allowed us to track product utilization. Generally, there was good compliance. I say "generally good compliance" because the main concern is the 1% of the time when the product fails. 99% of the time, the products work fine. However, the 1% failure is devastating and traumatic.

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That's somewhat reassuring or informative. Even with your detailed market analysis and better vantage point, you didn't arrive at a different result. From the outside, it seems there are a few factors that might not apply to the entire market but still drive individual company results. As I understand it, compliance plays a role. How many patients actually use all the products they are reimbursed for? Innovation is another factor. It's not like-for-like pricing, but introducing new products can lead to price increases. Upselling accessories is something the company also highlights. What do you make of the impact of these factors on growth?

We observed interesting behavior. At home, people might use the bag for longer periods because they are comfortable. But when they go out, they change it frequently to avoid failure during dinner, outings, or vacations. Consumer surveys showed that, for example, with a one-piece system in Europe, people might wear it for one and a half days. However, if going out for dinner, they replace it in the afternoon to ensure no failure. On vacation, utilization might be higher to avoid ruining the experience.

This is a snippet of the transcript, sign up to read more.

That's somewhat reassuring or informative. Even with your detailed market analysis and better vantage point, you didn't arrive at a different result. From the outside, it seems there are a few factors that might not apply to the entire market but still drive individual company results. As I understand it, compliance plays a role. How many patients actually use all the products they are reimbursed for? Innovation is another factor. It's not like-for-like pricing, but introducing new products can lead to price increases. Upselling accessories is something the company also highlights. What do you make of the impact of these factors on growth?

Compliance was generally good, and people weren't hoarding bags. If reimbursement allowed for 12 bags a month, people used about 12 on average, maybe 10 some months, maybe 14 others, but it averaged out.

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