Nephrology and Urology Devices Market to Usage of. Incontinence devices by the Elderly Population to Drive Market

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1 Incontinence devices by the Elderly Population to Drive Market Reference Code: GBIME0030MR Publication Date: April 2011 The global market for nephrology and urology devices is forecast to exceed $XX billion by 2017 with a compounded annual growth rate (CAGR) of XX% from 2010 to 2017 The Global Nephrology and Urology Devices Market is Forecast to Reach $XX billion in 2017 Nephrology and Urology Devices Market, Global, Overall Revenues ($bn), XX% Revenue ($ bn) Source: GBI Research, Company Annual Reports and Interviews with Industry Experts and Key Opinion Leaders The global market for nephrology and urology devices is forecast to exceed $XX billion by 2017 with a compounded annual growth rate (CAGR) of XX% from 2010 to Incontinence devices worth $XX billion; renal dialysis equipment worth $XX billion; and lithotripters worth $XXbillion constitute the nephrology and urology market in The incontinence devices market was the largest segment in 2010, with a XX% share, the remaining XX% was contributed by renal dialysis equipment and lithotripters. The total market is expected to be driven through by the increasing prevalence of diabetes and hypertension, a rapidly aging population and a shortage of kidney donors for transplant. The market is expected to be driven by demand from the US, Japan, Germany, Brazil and Canada. The focus of these countries is on technological advancements in minimally invasive surgeries such as extracorporeal shock wave lithotripsy (ESWL) and laser lithotripsy. ESWL has brought enhancement in surgery, over open surgery and increased the adoption rates of patients for minimally invasive surgery. A shortage of donors for kidney transplantation will lead to the growth of the renal dialysis devices market with more patients undergoing renal dialysis procedures. The growing incidence of end-stage renal disease and increased reimbursement levels for renal dialysis will support the growth of the renal dialysis equipment market. Moreover, strong pipeline products with better operational efficiency, safety and effectiveness are expected to drive market growth. Page 1

2 1 Table of Contents 1 Table of Contents List of Tables List of Figures Introduction GBI Research Guidance Nephrology and Urology Devices: Market Characterization Global Nephrology and Urology Devices Market, Revenue ($bn), Global Nephrology and Urology Devices Market, Revenue Forecast ($bn), Global Nephrology and Urology Devices Market, Key Technology Trends Wearable Artificial Kidney Shock Wave Lithotripsy Transurethral Microwave Thermotherapy (TUMT) Telemedicine Improves Access to Care by Increased Efficiency and Bridging the Gap between Physician and Renal Dialysis Patients Global Nephrology and Urology Devices Market, Market Dynamics Market Drivers Market Restraints Global Nephrology and Urology Market, Key Company Share (%), Global Nephrology and Urology Devices Market: Category Analysis and Forecasts Nephrology and Urology Devices Incontinence Devices Protective Garments for Incontinence Urine Bags Urinary Catheters Incontinence Devices Market, Global, Revenue ($bn), Incontinence Devices Market, Global, Revenue Forecast ($bn), Incontinence Devices: Market Dynamics Market Drivers Market Restraints Incontinence Devices Market, Global, Company Share (%), Lithotripters Lithotripters Market, Global, Revenue ($m), Lithotripters Market, Global, Revenue Forecast ($m), Lithotripters : Market Dynamics Market Drivers Market Restraints Lithotripters Market, Global, Company Share (%), Renal Dialysis Equipment Dialysis Accessories Hemodialysis Machines Peritoneal Dialysis Solutions Continuous Renal Replacement Therapy Machines Renal Dialysis Equipment Market, Global, Revenue ($m), Renal Dialysis Equipment Market, Global, Revenue Forecasts ($m), Renal Dialysis Equipment: Market Dynamics Market Drivers Market Restraints Renal Dialysis Equipment Market, Global, Company Share (%), Global Nephrology and Urology Devices Market: Country Analysis and Forecasts Nephrology and Urology Devices Market: Cross-Country Analysis Revenue Forecasts, by Country, Nephrology and Urology Devices Market, US, Revenue ($m), Page 4

3 5.2.2 Nephrology and Urology Devices Market, US, Revenue ($m), Nephrology and Urology Devices Market, Canada, Revenue ($m), Nephrology and Urology Devices Market, Canada, Revenue ($m), Nephrology and Urology Devices Market, the UK, Revenue ($m), Nephrology and Urology Devices Market, the UK, Revenue ($m), Nephrology and Urology Devices Market, Germany, Revenue ($m), Nephrology and Urology Devices Market, Germany, Revenue ($m), Nephrology and Urology Devices Market, France, Revenue ($m), Nephrology and Urology Devices Market, France, Revenue ($m), Nephrology and Urology Devices Market, Italy, Revenue ($m), Nephrology and Urology Devices Market, Italy, Revenue ($m), Nephrology and Urology Devices Market, Spain, Revenue ($m), Nephrology and Urology Devices Market, Spain, Revenue ($m), Nephrology and Urology Devices Market, Japan, Revenue ($m), Nephrology and Urology Devices Market, Japan, Revenue ($m), Nephrology and Urology Devices Market, China, Revenue ($m), Nephrology and Urology Devices Market, China, Revenue ($m), Nephrology and Urology Devices Market, India, Revenue ($m), Nephrology and Urology Devices Market, India, Revenue ($m), Nephrology and Urology Devices Market, Australia, Revenue ($m), Nephrology and Urology Devices Market, Australia, Revenue ($m), Nephrology and Urology Devices Market, Brazil, Revenue ($m), Nephrology and Urology Devices Market, Brazil, Revenue ($m), Global Nephrology and Urology Devices Market: Competitive Assessment Nephrology and Urology Devices, Market Opportunities and Risk Evaluation Fresenius Medical Care AG & Co. KGaA Business Overview Key Products Svenska Cellulosa Aktiebolaget SCA Business Overview Key Products Baxter International Inc Business Overview Key Products B. Braun Melsungen AG Business Overview Key Products Coloplast A/S Business Overview Key Product Gambro AB Business Overview Key Products Dornier MedTech GmbH Business Overview Key Products Global Nephrology and Urology Devices Market: Product Pipeline Analysis Nephrology and Urology Devices: Pipeline Products Summary Renal Dialysis Equipment Renal Dialysis Equipment: Pipeline Products Summary Renal Dialysis Equipment: List of Pipeline Products Renal Dialysis Equipment: Profiles of Key Pipeline Products Peritoneal Dialysis Incontinence Devices: List of Pipeline Products Incontinence Devices: Profiles of Key Pipeline Products...89 Page 5

4 7.4 Lithotripters Devices: List of Pipeline Products Lithotripters Devices: Profiles of Key Pipeline Products Global Nephrology and Urology Devices Market: Consolidation Landscape Deals by Count, Key Deals in Coloplast Acquired Mpathy Medical Olympus Acquired Gyrus Group Endo Pharmaceuticals Holding Completes Acquisition of HealthTronics HARTMANN-CONCO Acquired Whitestone Acquisition Fresenius Medical Acquired Renal Solutions Global Nephrology and Urology Devices Market - Appendix Definitions Nephrology and Urology Devices Sources Acronyms Research Methodology Secondary Research Primary Research Models Forecasts Expert Panels Contact Us Disclaimer Page 6

5 1.1 List of Tables Table 1: Nephrology and Urology Devices Market, Global, Revenue ($bn), Table 2: Nephrology and Urology Devices Market, Global, Revenue ($bn), Table 3: Nephrology and Urology Devices Market, Global, Key Company Revenues ($m), Table 4: Incontinence Devices Market, Global, Revenue ($bn), Table 5: Incontinence Devices Market, Global, Revenue ($bn), Table 6: Incontinence Devices Market, Global, Key Company Revenues ($m), Table 7: Lithotripters Market, Global, Revenue ($m), Table 8: Lithotripters Market, Global, Revenue ($m), Table 9: Lithotripters Market, Global, Key Company Revenues ($m), Table 10: Renal Dialysis Equipment Market, Global, Revenue ($m), Table 11: Renal Dialysis Equipment Market, Global, Revenue ($m), Table 12: Renal Dialysis Equipment Market, Global, Key Company Revenues ($m), Table 13: Nephrology and Urology Devices Market, Cross Country Analysis, Global, CAGR (%), Table 14: Nephrology and Urology Devices Market, US, Revenue ($m), Table 15: Nephrology and Urology Devices Market, US, Revenue ($m), Table 16: Nephrology and Urology Devices Market, Canada, Revenue ($m), Table 17: Nephrology and Urology Devices Market, Canada, Revenue ($m), Table 18: Nephrology and Urology Devices Market, the UK, Revenue ($m), Table 19: Nephrology and Urology Devices Market, the UK, Revenue ($m), Table 20: Nephrology and Urology Devices Market, Germany, Revenue ($m), Table 21: Nephrology and Urology Devices Market, Germany, Revenue ($m), Table 22: Nephrology and Urology Devices Market, France, Revenue ($m), Table 23: Nephrology and Urology Devices Market, France, Revenue ($m), Table 24: Nephrology and Urology Devices Market, Italy, Revenue ($m), Table 25: Nephrology and Urology Devices Market, Italy, Revenue ($m), Table 26: Nephrology and Urology Devices Market, Spain, Revenue ($m), Table 27: Nephrology and Urology Devices Market, Spain, Revenue ($m), Table 28: Nephrology and Urology Devices Market, Japan, Revenue ($m), Table 29: Nephrology and Urology Devices Market, Japan, Revenue ($m), Table 30: Nephrology and Urology Devices Market, China, Revenue ($m), Table 31: Nephrology and Urology Devices Market, China, Revenue ($m), Table 32: Nephrology and Urology Devices Market, India, Revenue ($m), Table 33: Nephrology and Urology Devices Market, India, Revenue ($m), Table 34: Nephrology and Urology Devices Market, Australia, Revenue ($m), Table 35: Nephrology and Urology Devices Market, Australia, Revenue ($m), Table 36: Nephrology and Urology Devices Market, Brazil, Revenue ($m), Table 37: Nephrology and Urology Devices Market, Brazil, Revenue ($m), Table 38: Nephrology and Urology Devices, Global, Pipeline Product Summary, Table 39: Renal Dialysis Equipment, Global, Pipeline Product Summary, Table 40: Renal Dialysis Equipment: List of Pipeline Products-I, Table 41: Renal Dialysis Equipment: List of Pipeline Products-II, Table 42: Incontinence Devices: List of Pipeline Products, Table 43: Lithotripters Devices: List of Pipeline Products, Table 44: Nephrology and Urology Devices Market, Mergers & Acquisitions, by Number of Deals, Global, Table 45: Nephrology and Urology Devices Market, Mergers & Acquisitions, by Volume, Global, Page 7

6 1.2 List of Figures Figure 1: Nephrology and Urology Devices Market, Global, Revenue ($bn), Figure 2: Nephrology and Urology Devices Market, Global, Revenue ($bn), Figure 3: Nephrology and Urology Devices, Market Dynamics...15 Figure 4: Nephrology and Urology Devices Market, Global, Company Share (%), Figure 5: Nephrology and Urology Devices, Market Categorization and Segmentation...20 Figure 6: Incontinence Devices Market, Global, Revenue ($bn), Figure 7: Incontinence Devices Market, Global, Revenue ($bn), Figure 8: Incontinence Devices, Market Dynamics...23 Figure 9: Incontinence Devices Market, Global, Company Share (%), Figure 10: Lithotripters Market, Global, Revenue ($m), Figure 11: Lithotripters Market, Global, Revenue ($m), Figure 12: Lithotripters, Market Dynamics...30 Figure 13: Lithotripters Market, Global, Company Share (%), Figure 14: Renal Dialysis Equipment Market, Global, Revenue ($m), Figure 15: Renal Dialysis Equipment Market, Global, Revenue ($m), Figure 16: Renal Dialysis Equipment: Market Dynamics...36 Figure 17: Renal Dialysis Equipment Market, Global, Company Share (%), Figure 18: Nephrology and Urology Devices Market, Cross Country Analysis, Global, CAGR (%), Figure 19: Nephrology and Urology Devices Market, US, Revenue ($m), Figure 20: Nephrology and Urology Devices Market, US, Revenue ($m), Figure 21: Nephrology and Urology Devices Market, Canada, Revenue ($m), Figure 22: Nephrology and Urology Devices Market, Canada, Revenue ($m), Figure 23: Nephrology and Urology Devices Market, the UK, Revenue ($m), Figure 24: Nephrology and Urology Devices Market, the UK, Revenue ($m), Figure 25: Nephrology and Urology Devices Market, Germany, Revenue ($m), Figure 26: Nephrology and Urology Devices Market, Germany, Revenue ($m), Figure 27: Nephrology and Urology Devices Market, France, Revenue ($m), Figure 28: Nephrology and Urology Devices Market, France, Revenue ($m), Figure 29: Nephrology and Urology Devices Market, Italy, Revenue ($m), Figure 30: Nephrology and Urology Devices Market, Italy, Revenue ($m), Figure 31: Nephrology and Urology Devices Market, Spain, Revenue ($m), Figure 32: Nephrology and Urology Devices Market, Spain, Revenue ($m), Figure 33: Nephrology and Urology Devices Market, Japan, Revenue ($m), Figure 34: Nephrology and Urology Devices Market, Japan, Revenue ($m), Figure 35: Nephrology and Urology Devices Market, China, Revenue ($m), Figure 36: Nephrology and Urology Devices Market, China, Revenue ($m), Figure 37: Nephrology and Urology Devices Market, India, Revenue ($m), Figure 38: Nephrology and Urology Devices Market, India, Revenue ($m), Figure 39: Nephrology and Urology Devices Market, Australia, Revenue ($m), Figure 40: Nephrology and Urology Devices Market, Australia, Revenue ($m), Figure 41: Nephrology and Urology Devices Market, Brazil, Revenue ($m), Figure 42: Nephrology and Urology Devices Market, Brazil, Revenue ($m), Figure 43: Nephrology and Urology Devices, Market Opportunities and Risk Evaluation, Global, by Segment...68 Figure 44: Nephrology and Urology Devices, Competitive Assessment, Figure 45:Fresenius Medical Care AG & Co. KGaA, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 46: Svenska Cellulosa Aktiebolaget SCA, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 47:Baxter International Inc, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 48: B. Braun Melsungen AG, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 49: Coloplast A/S, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 50: Gambro AB, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 51: Dornier MedTech GmbH, SWOT Analysis, Nephrology and Urology Devices, Global, Figure 52: Nephrology and Urology Devices, Global, Pipeline Product Summary (%), Figure 53: Renal Dialysis Equipment, Global, Pipeline Product Summary(%), Page 8

7 Figure 54: Nephrology and Urology Devices Market, Mergers & Acquisitions, by Number of Deals, Global, Page 9

8 2 Introduction The nephrology and urology devices market is comprised of incontinence devices, lithotripters and renal dialysis equipment. Increased awareness and the change towards treating the condition, rather than alleviating its symptoms or using disposable products such as diapers and incontinence pads, has advanced the prospects of the urinary incontinence devices market. Reimbursement changes in the US that took effect in 2008 will continue to create significant unit growth in the catheter segment. Physicians and patients prefer minimally invasive procedures because of the fast recovery times, shorter hospital stays, and reduced pain associated with these procedures which have driven the lithotripters market. Advanced treatments and higher living standards in the developed countries are reasons for the increase in patient numbers for dialysis. The dialysis market will continue to grow based on demographic factors, including the aging population and the increasing incidence of hypertension and diabetes, which frequently precede the onset of End Stage Renal Disease (ESRD). For instance, the International Diabetes Federation expects the number of people with diabetes to grow from 285 million in 2010 to 438 million in Moreover, high priced innovative devices introduced by established organizations will also lead to an increase in demand for nephrology and urology procedures. Advancements in technology such as short wave lithotripsy, transurethral microwave thermotherapy and wearable artificial kidney are promoting growth in the nephrology and urology devices market. The nephrology and urology devices market is dominated by players such as Fresenius Medical Care AG & Co. KGaA, Svenska Celulosa Aktiebolaget SCA, Baxter International Inc and Gambro AB. 2.1 GBI Research Guidance The report comprises an executive summary capturing the key categories and points driving and restraining growth in the global nephrology and urology devices market. Competition in the industry and geographical regions and market categories driving the market are also outlined. The Introduction provides an introduction to the global nephrology and urology devices market as well as giving an overview of the market. Chapter 3, Global Market Characterization provides information on market size for the historic period 2003 to 2010 and for the forecast period It also has information related to the global nephrology and urology devices market trends and dynamics. In the market dynamics section comprehensive information is provided on market drivers and restraints. The competitive landscape for the overall global nephrology and urology devices market is also provided. In Chapter 4, Category Analysis and Forecasts, the global nephrology and urology devices market categories which include incontinence devices, lithotripters and renal dialysis equipment. Market size information for the historic ( ) and the forecast ( ) periods are discussed for each category along with market dynamics and competition. Chapter 5 on Country Analysis and Forecasts includes global nephrology and urology market size information along with the categories for the historic ( ) and the forecast ( ) periods for the US, Canada, the UK, France, Germany, Italy, Spain, Japan, China, India, Australia and Brazil. A cross country analysis of these countries is also discussed. Chapter 6 titled Competitive Assessment discusses the market opportunities and risk evaluation for the three nephrology and urology devices categories. Profiles of the leading nephrology and urology equipment companies are also provided. Leading companies products, features and benefits are also discussed. Chapter 7 is titled Product Pipeline Analysis covering the products in the pipeline for some of the various nephrology and urology devices categories. Product approval and expected launch dates are provided for some products. The final chapter, Chapter 8 Consolidation Landscape includes the total number of deals that took place during , with the key major deals that took place during that time discussed in detail. Page 10

9 3 Nephrology and Urology Devices: Market Characterization 3.1 Global Nephrology and Urology Devices Market, Revenue ($bn), Figure 1: Nephrology and Urology Devices Market, Global, Revenue ($bn), Revenue($ bn) Incontinence Devices Renal Dialysis Equipment Lithotripters Source: GBI Research, Company Annual Reports and Interviews with Industry Experts and Key Opinion Leaders Table 1: Nephrology and Urology Devices Market, Global, Revenue ($bn), Market Incontinence Devices Renal Dialysis Equipment Lithotripters Overall Revenue Source: GBI Research, Company Annual Reports and Interviews with Industry Experts and Key Opinion Leaders CAGR (%) The global market for nephrology and urology devices was valued at $XX billion in 2003, and has grown at a CAGR of XX% to reach $XX billion in The market was driven by higher healthcare expenditure in the developed economies and the increase in the number of minimally invasive procedures, thereby increasing the usage rate of nephrology and urology devices. Also, there was a strong demand for protective garments for urinary incontinence which has led to growth in the overall nephrology and urology devices market. Page 11

10 3.5 Global Nephrology and Urology Market, Key Company Share (%), 2009 Figure 4: Nephrology and Urology Devices Market, Global, Company Share (%), 2009 Fresenius Medical Care AG & Co. KGaA Others, Svenska Celulosa Aktiebolaget SCA Baxter International Inc. Gambro AB Hartmann Group Coloplast A/S B. Braun Melsungen AG Kimberly-Clark Corporation Source: GBI Research, Company Annual Reports and Interviews with Industry Experts and Key Opinion Leaders Table 3: Nephrology and Urology Devices Market, Global, Key Company Revenues ($m), 2009 Company Fresenius Medical Care AG & Co. KGaA Svenska Celulosa Aktiebolaget SCA Baxter International Inc. Gambro AB Kimberly-Clark Corporation B. Braun Melsungen AG Coloplast A/S Hartmann Group Others Source: GBI Research, Company Annual Reports and Interviews with Industry Experts and Key Opinion Leaders Revenues ($m) Page 18

11 9 Global Nephrology and Urology Devices Market - Appendix 9.1 Definitions Nephrology and Urology Devices Nephrology and Urology devices are the devices intended for the management and treatment of disorders in the kidney and the urinary bladder. Incontinence devices, lithiotripters and renal Dialysis equipment are tracked under this market Incontinence Devices Incontinence Devices are externally worn devices intended to protect the skin from the involuntary loss of urine which occur in incontinence. The devices tracked under this category are Protective garments for incontinence, Urinary catheters and Urine bags. Protective Garments for Incontinence Protective garments are used to manage incontinence and include all absorbable incontinence management products. Disposable pads, panty liners and adult diapers used by incontinence patients are covered here. Urinary Catheters Urinary catheter is a tube system to drain and collect urine from the bladder. These catheters are recommended as a way to manage urinary incontinence and urinary retention in both men and women. External urinary catheters and In-dwelling urinary catheters are tracked under this category. Urine Bags Urine bags acts as a reservoir bag that is attached to the exit end of the catheter to collect the out flow of urine that can be drained and disposed of later Lithotripters A lithotripter is a medical device used in the non-invasive treatment of kidney stones (urinary calculosis) and biliary calculi (stones in the gallbladder or in the liver) Renal Dialysis Equipment Renal Dialysis Equipments are intended to provide an artificial replacement for the lost kidney function due to renal failure. Hemodialysis machines, peritoneal dialysis solutions, dialysis accessories and continous renal replacement therapy machines are tracked under this category. Continuous Renal Replacement Therapy Machines Continous Renal Replacement Therapy Machines are intended for dialysis treatments that are provided as a continuous 24 hour per day therapy. Dialysis Accessories Dialysis Accessories are the accessories that are used along with the machines in the renal dialysis procedures. AV fistula needles, blood tubing sets, dialysis catheters and dialyzers are tracked under this category.. AV Fistula Needles AV fistula needles are used to surgically create direct connection between an artery and a vein resulting in the formation of a large blood vessel with an increased blood flow, providing access for hemodialysis. Blood Tubing Sets Blood tubing sets act as connecting link between the blood vessels and the dialysis machine via the AV fistula needles. They are used to carry blood to and from the body. Dialysis Catheters Dialysis catheters are intended for exchanging blood from the patient to and from the hemodialysis machine. These catheters are made from plastic. Dialyzers Page 96

12 Dialyzers are the special filters used in hemodialysis and continuous renal replacement therapy for removing toxic substances and excess of water from the blood. Hemodialysis Machines Hemodialysis machines are intended to pump blood, monitor the blood flow for safety, clean wastes from blood; and monitor blood pressure and the rate of fluid removal from the body. The segment also covers the home hemodialysis machines. Peritoneal Dialysis Solutions Peritoneal dialysis solutions are intended to use the peritoneal membrane as natural semi permeable membrane. The dialysis is carried out with the help of a specially formulated dialysis solution which is instilled around the membrane to ease the process Sources Company websites, Annual reports, SEC filings Journal of the American Society of Nephrology (JASN) National Kidney and Urological Diseases Information and Clearing House (NKUDICH) American Urological Association American Association for Clinical Chemistry National Institute of Diabetes and Digestive and Kidney Diseases Mayo Foundation for Medical Education and Research National Library of Medicine Centers for Medicare & Medicaid Services 9.3 Acronyms BPH CAUTIs CRRT CAPD CCPD Benign Prostatic Hyperplasia Catheter-Associated Urinary Tract Infections Continuous Renal Replacement Therapy Continuous Ambulatory Peritoneal Dialysis Continuous Cycling Peritoneal Dialysis CKD.Chronic Kidney Disease CMS Centers for Medicare and Medicaid Services CDC Centers for Disease Control and Prevention ESRD End Stage Renal Disease GPOs.Group Purchasing Organizations SWs Shock Waves TUMT.Transurethral Microwave Thermotherapy TUNA.Transurethral needle ablation USRDS..The US Renal Data System UI.Urinary Incontinence PFE.Pelvic Floor Exercises PNL.Percutaneous Nephrolithotomy PD SWL Peritoneal Dialysis Short Wave Lithotripsy Page 97

13 9.4 Research Methodology GBI Research s dedicated Research and Analysis Teams consists of experienced professionals with a pedigree in marketing, market research, consulting background in the medical devices industry and advanced statistical expertise. GBI Research adheres to the Codes of Practice of the Market Research Society ( and the Society of Competitive Intelligence Professionals ( ). All GBI Research databases are continuously updated and revised. The following research methodology is followed for all databases and reports Secondary Research The research process begins with exhaustive secondary research on internal and external sources being carried out to source qualitative and quantitative information relating to each market. The secondary research sources that are typically referred to include, but are not limited to: Company websites, annual reports, financial reports, broker reports, investor presentations and SEC Filings. Industry trade journals, scientific journals and other technical literature. Internal and external proprietary databases. Relevant patent and regulatory databases. National government documents, statistical databases and market reports. Procedure registries. News articles, press releases and web-casts specific to the companies operating in the market Primary Research GBI Research conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions: It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. Helps in validating and strengthening the secondary research findings. Further develops the Analysis Team s expertise and market understanding. Primary research involves correspondence, telephone interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to: Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers. Hospital stores, laboratories, pharmacies, distributors and para-medics. Outside experts: investment bankers, valuation experts, research analysts specializing in specific medical equipment markets. Key opinion leaders: physicians and surgeons specializing in different therapeutic areas corresponding to different kinds of medical equipment. Page 98

14 9.4.3 Models Where no hard data is available, GBI Research uses modeling and estimates in order to produce comprehensive data sets. The following rigorous methodology is adopted: Available hard data is cross referenced with the following data types to produce estimates: Demographic data: population, split by segment. Macro-economic indicators: GDP, inflation rate etc. Healthcare Indicators: health expenditure, physicians # base, healthcare infrastructure and facilities. Selected epidemiological and procedure statistics. Data is then cross checked by the expert panel. All data and assumptions relating to modeling are stored and are available to clients on request Forecasts GBI Research uses proprietary forecast models. The following four factors are utilized in the forecast models: Historic growth rates. Macro indicators such as population trends and healthcare spending. Forecast epidemiological data. Qualitative trend information and assumptions Data is then cross checked by the Expert Panel Expert Panels GBI Research uses a panel of experts to cross verify its databases and forecasts. GBI Research s expert panel comprises marketing managers, product specialists, international sales managers from medical device companies; academics from research universities, KOLs from hospitals, consultants from venture capital funds and distributors/suppliers of medical equipment and supplies. Historic data and forecasts are relayed to GBI Research s Expert Panel for feedback and adjusted in accordance with this feedback. 9.5 Contact Us If you have any queries about this report or would like further information, please contact North America: Europe: or Asia Pacific: info@gbiresearch.com Page 99

15 9.6 Disclaimer All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GBI Research. The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that GBI Research delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such GBI Research can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect. Page 100