Computed Tomography Systems Market to Lower Radiation Dose and Improved Workflow in Advanced CT Systems to Increase Adoption Rates

Transcription

1 Computed Tomography Systems Market to 2019 Lower Radiation Dose and Improved Workflow in Advanced CT Systems to Increase Adoption Rates

2 GBI Research Report Guidance GBI Research Report Guidance The executive summary captures the key points that determine the dynamics of the CT systems market. Competition in the industry and factors affecting the market are also outlined. The Market Characterization chapter provides information on market size for the historic period 2005 to 2012 and the forecast period 2012 to It also has information relating to CT systems market trends, market dynamics and the competitive landscape. In the market dynamics section, comprehensive information is provided on market drivers and restraints. The Segment Analysis and Forecasts chapter discusses low, medium and high-slice CT systems. Market-size information for the historic period 2005 to 2012 and the forecast period from 2012 to 2019 are discussed for each segment. However, company shares for the segments have not been covered. The Country Analysis and Forecasts chapter covers market size information for the historic period 2005 to 2012 and the forecast period 2012 to 2019 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 provided. The Reimbursement Trends chapter covers the reimbursement system for the US, key countries in key countries European countries, Japan, China, India and Australia. The Distribution System chapter discusses the demand and supply-side dynamics in the CT systems market. The Company Profiles chapter gives profiles of the leading CT systems companies along with the company s products, features and benefits. The Pipeline Product Analysis chapter focuses on the pipeline products in the CT systems market. Key pipeline products are listed and discussed in detail and product approval and expected launch dates are also provided for a certain number. The Consolidation Landscape chapter discusses the consolidation landscape in the CT systems industry. This chapter looks at the total number of deals that took place between 2008 and Page 2

3 Executive Summary The global Computed Tomography (CT) market was valued at $XX billion in 2012 and is forecast to grow at a Compound Annual Growth Rate (CAGR) of XX%. Executive Summary The Global Computed Tomography Market is Expected to Reach $XX Billion by 2019 Global Computed Tomography Systems Market, Revenue ($bn), CAGR: XX% Revenue ($bn) Source: GBI Research s proprietary database [accessed on September 2, 2013]; primary research interviews with marketing managers and other industry experts. The global Computed Tomography (CT) market was valued at $XX billion in 2012 and is forecast to reach $XX billion by 2019, at a Compound Annual Growth Rate (CAGR) of XX%. The market is primarily driven by supply-side initiatives to improve workflow, enhance image quality and reduce patient discomfort, through technical advances in CT. Technical advances, such as dynamic volume CT, significantly reduce image acquisition time, in turn enabling imaging centers to handle higher volumes of procedures, as well as reducing radiation doses by up to XX%. Multi-slice CT scanners have expanded the applications of CT in recent years. Applications such as CT Angiography (CTA) in the diagnosis of coronary heart disease are major breakthroughs, as the technology is non-invasive and comparable to cardiac catheterization in terms of diagnostic accuracy. Aging populations, and the associated increased prevalence of chronic conditions, continue to be a major driver for the growth of CT procedure volumes. Meanwhile the high cost of CT equipment continues to be a hindrance for adoption in developing economies such as India and China. Additionally, austerity measures in developed economies in Europe will continue to have a negative impact on demand during the forecast period. Page 3

4 Table of Contents 1 Table of Contents 1 Table of Contents List of Tables List of Figures Introduction Computed Tomography Systems: Overview High-Slice Computed Tomography Systems Low-Slice Computed Tomography Systems Mid-Slice Computed Tomography Systems Computed Tomography Systems: Market Characterization Global Computed Tomography Systems Market, Revenue, Global Computed Tomography Systems Market, Revenue, Global Computed Tomography Systems, Key Company Share, Global Computed Tomography Systems: Key Trends Computed Tomography Angiography has Emerged as a New Tool in the Diagnosis of Coronary Artery Disease Application of Iterative Reconstruction Software in Computed Tomography Diagnostic Imaging Tests Emerge as a Preferred Option ahead of Exploratory Surgeries Advanced CT Systems Help Reduce the Total Cost of Ownership Different Vendors in the Market are Increasingly Focusing on Emerging Countries that Offer Significant Growth Potential Global Computed Tomography Systems: Market Dynamics Market Drivers Market Restraints Global Computed Tomography Systems Market: Segment Analysis and Forecasts Global High-Slice Computed Tomography Systems Market, Revenue, Global High-Slice Computed Tomography Systems Market, Revenue, Global Mid-Slice Computed Tomography Systems Market, Revenue, Global Mid-Slice Computed Tomography Systems Market, Revenue, Global Low-Slice Computed Tomography Systems Market, Revenue, Global Low-Slice Computed Tomography Systems Market, Revenue, Global Computed Tomography Systems Market: Country Analysis and Forecasts Computed Tomography Systems Market: Cross-Country Analysis Historic and Forecast Revenue, By Country Computed Tomography Systems Market, US, Revenue, Computed Tomography Systems Market, US, Revenue, Computed Tomography Systems Market, Japan, Revenue, Computed Tomography Systems Market, Japan, Revenue, Computed Tomography Systems Market, China, Revenue, Computed Tomography Systems Market, China, Revenue, Computed Tomography Systems Market, Germany, Revenue, Computed Tomography Systems Market, Germany, Revenue, Computed Tomography Systems Market, Australia, Revenue, Computed Tomography Systems Market, Australia, Revenue, Computed Tomography Systems Market, Brazil, Revenue, Computed Tomography Systems Market, Brazil, Revenue, Computed Tomography Systems Market, France, Revenue, Computed Tomography Systems Market, France, Revenue, Computed Tomography Systems Market, India, Revenue, Computed Tomography Systems Market, India, Revenue, Computed Tomography Systems Market, Italy, Revenue, Page 6

5 Table of Contents Computed Tomography Systems Market, Italy, Revenue, Computed Tomography Systems Market, Spain, Revenue, Computed Tomography Systems Market, Spain, Revenue, Computed Tomography Systems Market, Canada, Revenue, Computed Tomography Systems Market, Canada, Revenue, Computed Tomography Systems Market, UK, Revenue, Computed Tomography Systems Market, UK, Revenue, Global Computed Tomography Systems Market: Reimbursement Trends US Key European Countries Japan China India Australia Global Computed Tomography Systems Market: Distribution System Supply-Side Dynamics Demand-Side Dynamics Global Computed Tomography Systems Market: Company Profiles GE Healthcare Business Overview Marketed Products Siemens Healthcare Business Overview Marketed Products Toshiba Medical Systems Corporation Business Overview Marketed Products Philips Healthcare Business Overview Marketed Products Hitachi Medical Corporation Business Overview Marketed Products Neusoft Medical Systems Co., Ltd Business Overview Marketed Products Global Computed Tomography Systems Market: Product Pipeline Analysis Computed Tomography Systems: Profiles of Key Pipeline Products Proton CT Scanner Focused Acoustic Computed Tomography System Mammotomography Device X-Ray CT Scanner FMI ScintiStar HPX CT FMI ScintiStar LPX CT Computed Tomography Systems: List of Pipeline Products Global Computed Tomography Systems Market: Consolidation Landscape Key Deals: Toshiba Medical Systems Acquisition of Vital Images Trivitron Healthcare s Co-Marketing Agreement with Hitachi Medical Systems GE Healthcare s Distribution Agreement with Veran Medical Technologies Royal Philips Electronics Agreement with Electron Appendix...79 Page 7

6 Table of Contents 12.1 Definitions Computed Tomography Systems Acronyms Sources Research Methodology Secondary Research Primary Research Models Forecasts Expert Panels Contact Us Disclaimer...85 Page 8

7 Table of Contents 1.1 List of Tables Table 1: Global Computed Tomography Systems Market, Revenue ($bn), Table 2: Global Computed Tomography Systems Market, Revenue Forecast ($bn), Table 3: Global Computed Tomography Systems Market, Key Company Revenue ($m), Market Share (%), Table 4: Computed Tomography Systems Market, US, Change in Estimated Cost in CT Procedures under Table 5: 2014 HOPPS Proposal...25 Computed Tomography Systems Market, US, Bundled Codes for CT of the Abdomen and Pelvis, Table 6: Global High-Slice Computed Tomography Systems Market, Revenue ($bn), Table 7: Global High-Slice Computed Tomography Systems Market, Revenue ($bn), Table 8: Global Mid-Slice Computed Tomography Systems Market, Revenue ($bn), Table 9: Global Mid-Slice Computed Tomography Systems Market, Revenue ($bn), Table 10: Global Low-Slice Computed Tomography Systems Market, Revenue ($m), Table 11: Global Low-Slice Computed Tomography Systems Market, Revenue ($m), Table 12: Computed Tomography Systems Market: Cross-Country Analysis, Global, CAGR (%) and Revenue ($m), Table 13: Computed Tomography Systems Market, US, Revenue ($m), Table 14: Computed Tomography Systems Market, US, Revenue Forecast ($m), Table 15: Computed Tomography Systems Market, Japan, Revenue ($m), Table 16: Computed Tomography Systems Market, Japan, Revenue Forecast ($m), Table 17: Computed Tomography Systems Market, China, Revenue ($m), Table 18: Computed Tomography Systems Market, China, Revenue Forecast ($m), Table 19: Computed Tomography Systems Market, Germany, Revenue ($m), Table 20: Computed Tomography Systems Market, Germany, Revenue Forecast ($m), Table 21: Computed Tomography Systems Market, Australia, Revenue ($m), Table 22: Computed Tomography Systems Market, Australia, Revenue Forecast ($m), Table 23: Computed Tomography Systems Market, Brazil, Revenue ($m), Table 24: Computed Tomography Systems Market, Brazil, Revenue Forecast ($m), Table 25: Computed Tomography Systems Market, France, Revenue ($m), Table 26: Computed Tomography Systems Market, France, Revenue Forecast ($m), Table 27: Computed Tomography Systems Market, India, Revenue ($m), Table 28: Computed Tomography Systems Market, India, Revenue Forecast ($m), Table 29: Computed Tomography Systems Market, Italy, Revenue ($m), Table 30: Computed Tomography Systems Market, Italy, Revenue Forecast ($m), Table 31: Computed Tomography Systems Market, Spain, Revenue ($m), Table 32: Computed Tomography Systems Market, Spain, Revenue Forecast ($m), Table 33: Computed Tomography Systems Market, Canada, Revenue ($m), Table 34: Computed Tomography Systems Market, Canada, Revenue Forecast ($m), Table 35: Computed Tomography Systems Market, UK, Revenue ($m), Table 36: Computed Tomography Systems Market, The UK, Revenue Forecast ($m), Table 37: Global Computed Tomography Systems Market, GE Healthcare, Key Marketed Products, Table 38: Global Computed Tomography Systems Market, Siemens Healthcare, Key Marketed Products, Table 39: Global Computed Tomography Systems Market, Toshiba Medical Systems Corporation, Key Marketed Products, Table 40: Global Computed Tomography Systems Market, Philips Healthcare, Key Marketed Products, Table 41: Global Computed Tomography Systems Market, Hitachi Medical, Key Marketed Products, Table 42: Global Computed Tomography Systems Market, Neusoft Medical, Key Marketed Products, Table 43: Proton CT Scanner, Product Status, Table 44: Focused Acoustic Computed Tomography System, Product Status, Table 45: Mammotomography Device, Product Status, Table 46: X-Ray CT Scanner, Product Status, Table 47: FMI ScintiStar HPX CT, Product Status, Table 48: FMI ScintiStar LPX CT, Product Status, Page 9

8 Table of Contents Table 49: Global Computed Tomography Systems Market, List of Pipeline Products, List of Figures Figure 1: Global Computed Tomography Systems Market, Revenue ($bn), Figure 2: Global Computed Tomography Systems Market, Revenue Forecast ($bn), Figure 3: Global Computed Tomography Systems Market, Key Company Share (%), Figure 4: Computed Tomography Systems Market, Key Examples, CT Systems Based on Iterative Reconstruction Software...17 Figure 5: Computed Tomography Systems Market, Key Public Private Partnerships in Emerging Economies...19 Figure 6: Global Computed Tomography Systems Market, Impact Analysis, Figure 7: Global Computed Tomography Systems Market, Number of CT Scanners per Million Population, 2009 (or Nearest Year)...21 Figure 8: Computed Tomography Systems Market, US, Spending on Imaging Services (%), Figure 9: Global High-Slice Computed Tomography Systems Market, Revenue ($bn), Figure 10: Global High-Slice Computed Tomography Systems Market, Revenue Forecast ($bn), Figure 11: Global Mid-Slice Computed Tomography Systems Market, Revenue ($bn), Figure 12: Global Mid-Slice Computed Tomography Systems Market, Revenue Forecast ($bn), Figure 13: Global Low-Slice Computed Tomography Systems Market, Revenue ($m), Figure 14: Global Low-Slice Computed Tomography Systems Market, Revenue Forecast ($m), Figure 15: Computed Tomography Systems Market: Cross-Country Analysis, Global, CAGR (%), Figure 16: Global Computed Tomography Systems Market, Number of CT Examinations per Million Population, 2011 (or Nearest Year)...36 Figure 17: Computed Tomography Systems Market, US, Revenue ($m), Figure 18: Computed Tomography Systems Market, US, Revenue Forecast ($m), Figure 19: Computed Tomography Systems Market, Japan, Revenue ($m), Figure 20: Computed Tomography Systems Market, Japan, Revenue Forecast ($m), Figure 21: Computed Tomography Systems Market, China, Revenue ($m), Figure 22: Computed Tomography Systems Market, China, Revenue Forecast ($m), Figure 23: Computed Tomography Systems Market, Germany, Revenue ($m), Figure 24: Computed Tomography Systems Market, Germany, Revenue Forecast ($m), Figure 25: Computed Tomography Systems Market, Australia, Revenue ($m), Figure 26: Computed Tomography Systems Market, Australia, Revenue Forecast ($m), Figure 27: Computed Tomography Systems Market, Brazil, Revenue ($m), Figure 28: Computed Tomography Systems Market, Brazil, Revenue Forecast ($m), Figure 29: Computed Tomography Systems Market, France, Revenue ($m), Figure 30: Computed Tomography Systems Market, France, Revenue Forecast ($m), Figure 31: Computed Tomography Systems Market, India, Revenue ($m), Figure 32: Computed Tomography Systems Market, India, Revenue Forecast ($m), Figure 33: Computed Tomography Systems Market, Italy, Revenue ($m), Figure 34: Computed Tomography Systems Market, Italy, Revenue Forecast ($m), Figure 35: Computed Tomography Systems Market, Spain, Revenue ($m), Figure 36: Computed Tomography Systems Market, Spain, Revenue Forecast ($m), Figure 37: Computed Tomography Systems Market, Canada, Revenue ($m), Figure 38: Computed Tomography Systems Market, Canada, Revenue Forecast ($m), Figure 39: Computed Tomography Systems Market, UK, Revenue ($m), Figure 40: Computed Tomography Systems Market, UK, Revenue Forecast ($m), Figure 41: Global Computed Tomography Systems Market, Reimbursement, Figure 42: Computed Tomography Systems Market, US, Reimbursement, Figure 43: Computed Tomography Systems Market, Reimbursement, Figure 44: Global Computed Tomography Systems Market, Comparison of Commercially Available CT scanners, Figure 45: Computed Tomography Systems Market, Product Pipeline Analysis, Page 10

9 Introduction 2 Introduction Computed Tomography (CT) is an advanced diagnostic imaging modality that is emerging as a critical tool for therapeutic decision making. The CT systems market comprises low, mid and high-slice CT systems. The increasing prevalence of conditions such as cardiovascular diseases and cancers has resulted in an increase in procedural volumes. This, along with increasing elderly populations, is fuelling the demand for timely and efficient diagnostic screening procedures. Technological advances, improving patient awareness and growth in procedural volumes are all expected to boost market growth. The growth in the CT systems market can be attributed to market opportunities offered by the untapped markets of developing economies, where there is a growing awareness of preventive medicine that is contributing towards the increase in CT procedural volumes. Major market players are therefore focusing on these lucrative markets to strengthen their market presence by developing both models suitable to local markets and equipment that are exported to a number of markets across the world. Page 11

10 Computed Tomography Systems: Market Characterization 4 Computed Tomography Systems: Market Characterization 4.1 Global Computed Tomography Systems Market, Revenue, The following figure shows the revenue generated by the three segments of the global CT systems market from 2005 to Figure 1: Global Computed Tomography Systems Market, Revenue ($bn), Revenue ($bn) Mid-slice CT systems High-slice CT systems Low-slice CT systems Source: GBI Research s proprietary database [accessed on September 2, 2013]; primary research interviews with marketing managers and other industry experts. The following table shows the revenue generated by the three segments of the global CT systems market from 2005 to Table 1: Global Computed Tomography Systems Market, Revenue ($bn), Segment CAGR (%) Mid-slice CT systems High-slice CT systems Low-slice CT systems Total Source: GBI Research s proprietary database [accessed on September 2, 2013]; primary research interviews with marketing managers and other industry experts. The global CT systems market was valued at $XX billion in 2005, and grew at a CAGR of XX% to reach $XX billion in Changes in patient demographics have been a major factor driving market growth. An increasingly elderly population, and a corresponding rise in the prevalence of chronic diseases, makes for an increased need for diagnostic imaging techniques such as CT. A growing body of comprehensive clinical evidence, supporting the benefits of CT scans in early detection of underlying pathologies over traditional diagnostic examinations such as X-rays, is also driving adoption. Page 13

11 Computed Tomography Systems: Market Characterization 4.3 Global Computed Tomography Systems, Key Company Share, 2012 The following figure shows the market shares in the global CT systems market in Figure 3: Global Computed Tomography Systems Market, Key Company Share (%), 2012 Others GE Healthcare Hitachi Medical Corporation Philips Healthcare Siemens Healthcare Toshiba Medical Systems Corporation Source: GBI Research s proprietary database [accessed on September 2, 2012]; primary research interviews with marketing managers and other industry experts. The following table shows the market shares in the global CT systems market in Table 3: Global Computed Tomography Systems Market, Key Company Revenue ($m), Market Share (%), 2012 Company name Market share (%) Revenue ($m) GE Healthcare Siemens Healthcare Toshiba Medical Systems Corporation Philips Healthcare Hitachi Medical Corporation Others Source: GBI Research s proprietary database [accessed on September 2, 2012]; Primary research interviews with marketing managers and other industry experts In 2012, the global CT systems market was dominated by GE Healthcare, with a XX% share, and Siemens Healthcare, with a XX% share. Toshiba Medical Systems Corporation, with XX% and Philips Healthcare, with XX%, also had strong market shares. Hitachi Medical Corporation, at XX%, was the other significant presence. The top four companies accounted for more than XX% of the global CT systems market in Supply-side initiatives aimed at improving clinical workflow and reducing radiation dose are expected to sustain top-line revenue growth for companies in this market. Leading companies such as GE Healthcare and Siemens Healthcare are shifting their manufacturing facilities to India and China to reduce operating costs and as such improve profit margins. These manufacturing facilities are also used for exporting CT equipment to developed economies in North America and Europe. Expanding applications for CT such as CT angiography and CT colonoscopy provide significant scope for companies to sustain revenue growth in the future. Page 15

12 Appendix 12 Appendix 12.1 Definitions Computed Tomography Systems CT is a powerful non-destructive evaluation technique used for producing 2D and 3D cross-sectional image of an object from flat X-ray image. It is used on patients with a high risk of colon cancer, or full-motion heart scans for patients with high risk of heart disease. It can also be used to image complex fractures, detect infarction, tumors, calcifications, hemorrhage and bone trauma; acute and chronic changes in the lung parenchyma etc. The device includes a slice detector and an X-ray source. High, mid and low-slice CT systems have been included in this category. Only equipment has been listed, and not accessories and/or additional costs associated with CT installation High-Slice Computed Tomography Systems High-slice CT segment includes CT systems which are 128-slice CT, 256-slice CT and higher versions if available. One unit is defined as one system Low-Slice Computed Tomography Systems Low-slice CT segment includes CT systems which are 16-slice and below. One unit is defined as one system Mid-Slice Computed Tomography Systems Mid-slice CT segment includes CT systems which are 32 & 64-slice CT systems. One unit is defined as one system Acronyms ACR: AIDR: AMA: AP: APC: ASiR: BMI: BPL: CAGR: CAME: CCTA: CHD: CMS: CmT: CPT: CT: CTA: CTC: DAC: DPC: DRA: American College of Radiology Adaptive Iterative Dose Reduction American Medical Association Andhra Pradesh Ambulatory Payment Classifications Adaptive Statistical Iterative Reconstruction Body Mass Index Below Poverty Line Compound Annual Growth Rate Chinese association of Medical Equipment Coronary Computed Tomographic Angiography Coronary Heart Disease US Centers for Medicare & Medicaid Services Computed mammotomography Current Procedural Terminology Computed Tomography CT Angiography CT Colonography Diagnostics Advisory Committee Diagnosis Procedure Combinations Deficit Reduction Act Page 79

13 Appendix FBP: Filtered Back Projection FDI: Foreign Direct Investment FOBT: Fecal Occult Blood Test FRP: Foreign Reference Pricing HHS: Health and Human Services HOPPS: Hospital Outpatient Prospective Payment System HPX: High Power X-Ray IR: Iterative Reconstruction IRIS: Iterative Reconstruction in Image Space IT: Information Technology kvp: Peak kilovoltage LCD: Local Coverage Determinations LDCT: Low-Dose Computed Tomography LPX: Low Power X-Ray MBIR: Model Based Iterative Reconstruction MedPAC: Medicare Payment Advisory Commission s MFPS: Medicare Physician Fee Schedule MHLW: Japanese Ministry of Health, Labor and Welfare MITA: Medical Imaging and Technology Alliance MP: Madhya Pradesh MRI: Magnetic Resonance Imaging NCCN: National Comprehensive Cancer Network NCD: National Coverage Determination NHI: National Health Insurance NICE: National Institute of Health and Clinical Excellence NLST: National Lung Screening Trial NRCMS: New Rural Cooperative Medical Scheme PET: Positron Emission Tomography PFS: Physician Fee Schedule PPP: Public Private Partnerships R&D: Research and development RVU: Relative Value Units R-Zone: Reasonable Zone Adjustment SHI: Statutory Health Insurance SMART: Simple, Maintenance-friendly, Affordable, Reliable, and Timely SPECT: Single Photon Emission Computed Tomography TCO: Total Cost of Ownership TMSC: Toshiba Medical Systems Corporation Page 80

14 Appendix UEBMI: Urban Employee Basic Medical Insurance URBMI: Urban Residents Basic Medical Insurance 12.3 Sources Achenbach S, et al. (2008). Computed Tomographic Angiography and the Atlantic. Journal of the American College of Cardiology; 1(6): ACR (2011). ACR Advocacy Update. Economics and Health Policy. ACR Comments on Accountable Care Organizations. American College of Rheumatology. Available from: /Advocacy_Update January_20_2011.pdf. ACR (2013). ACR Advocacy Update. Economics and Health Policy Medicare Physician Fee Schedule Proposed Rule. American College of Rheumatology. Available from: /July%20Advocacy%20Update% pdf. American Cancer Society (2012). Cancer Facts & Figures Available from: pdf. Bach PB, et al (2012). Benefits and Harms of CT Screening for Lung Cancer: A Systematic Review. The Journal of the American Medical Association; 307(22): Berrington GA, et al. (2009) Projected cancer risks from computed tomographic scans performed in the United States in Archives of Internal Medicine; 169(22): CIHI (2006). Medical Imaging Technologies in Canada, Supply, Utilization and Sources of Operating Funds. Canadian Institute for Health Information. Available from: CIHI (2013). Medical Imaging in Canada Canadian Institute for Health Information. Available from: Cole JH, et al. (2007). Cost Implications of Initial Computed Tomography Angiography as Opposed to Catheterization in Patients with Mildly Abnormal or Equivocal Myocardial Perfusion Scans. Journal of Cardiovascular Computed Tomography; 1(1): DDM2 (2013). Study on European Population Doses from Medical Exposure. Dose Datamed 2. Available from: eb_page_28_jan_2013.pdf. Esmail N (2013) Japan's universal health care system a model for Canada in reducing costs and wait times. Fraser Institute. Available from: GE Healthcare (2013). Healthcare Innovations - Public Private Partnerships. GE Healthcare. Available from: [Accessed on September ]. Goldstein JA, et al. (2011). The CT-STAT (Coronary Computed Tomographic Angiography for Systematic Triage of Acute Chest Pain Patients to Treatment) Journal of the American College of Cardiology; 58(14): Hara AK, et al (2009) Iterative reconstruction technique for reducing body radiation dose at CT: feasibility study. American Journal of Radiology; 2009; 193: IFC (2011). Success Stories. Public-Private Partnerships. International Finance Corporation. Available from: itals.pdf?mod=ajperes. Page 81

15 Appendix Kassing P, et al. (2013). Pricing Radiology Bundled CPT Codes Accurately. American College of Radiology. Available from: r/radiology%20management.pdf. Ma J et al. (2013). Annual Number of Lung Cancer Deaths Potentially Avertable by Screening in the United States. Cancer; 119(7): MITA (2013) News & Updates. New American Cancer Society Report Shows Medical Imaging Technologies Contribute to Declining U.S. Cancer Death Rate. Medical Imaging and Technology Alliance. Available from: [Accessed on August ] MITA (2013). Policy and Positions. Reimbursement & Patient Access. Medical Imaging and Technology Alliance. Available from: [Accessed on August ] Moawad FJ, et al. (2010). CT Colonography May Improve Colorectal Cancer Screening Compliance. American Journal of Roentgenology; 195: NAO (2011) Managing high value capital equipment in the NHS in England. National Audit Office, Department of Health. Available from: [Accessed on October ] National Lung Screening Trial Research Team (2011). Reduced Lung-Cancer Mortality with Low-Dose Computed Tomographic Screening. New England Journal of Medicine; 365: NCRPM (2009). Ionizing radiation exposure of the population of the United States: National Council on Radiation Protection and Measurements. Available from: OCED (2011) Health at a Glance 2011: OECD Indicators. Organisation for Economic Co-operation and Development. Available from: 04.html?contentType=/ns/StatisticalPublication,/ns/Chapter&containerItemId=/content/serial/ &itemId=/content/chapter/health_glance en&mimeType=text/html Accessed on August ] OIFC (2013). Healthcare in India. Overseas Indian Facilitation Centre. Available from: [Accessed on July ] Sanrad Medical Systems (2013). Northern states in India are leading in volumes of refurbished equipment sales. Sanrad Medical Systems. Available from: [Accessed on September ] Siemens Healthcare (2010) SOMATOM Emotion. Available from: motion_planning_guide pdf Siemens Healthcare (2011). Medical Solutions. Siemens Healthcare. Available from: gazin_medical_solutions pdf. Siemens Healthcare (2013). Clinical Collaboration. Siemens Healthcare. Available from: [Accessed on September ] Smith-Bindman R, et al (2009). Radiation dose associated with common computed tomography examinations and the associated lifetime attributable risk of cancer. Archives of Internal Medicine; 169(22): Page 82

16 Appendix Smith-Bindman R, et al (2012) Use of Diagnostic Imaging Studies and Associated Radiation Exposure for Patients Enrolled in Large Integrated Health Care Systems, The Journal of American Medical Association; 307(22): Tsushima Y, et al. (2010). Radiation Exposure from CT examinations in Japan. BMC Medical Imaging; 10(24). United Nations (2002). World population Ageing: Magnitude And Speed Of Population Ageing; Department of Economic and Social affairs, Population Division. Available from: WHO (2012) World Health Statistics Available from: World Bank (2013) Health expenditure per capita. Available from: [Accessed on August ] You JJ (2009). Appropriateness: The Next Frontier in the Quest for Better Access to CT and MRI. Institute for Clinical Evaluative Sciences. Institute for Clinical Evaluative Sciences. Healthcare Quarterly; 12(4) Research Methodology GBI Research s dedicated research and analysis teams consist of experienced professionals in marketing and market research with consulting backgrounds in the medical devices industry and advanced statistical expertise. GBI Research adheres to the codes of practice of the Market Research Society ( and the Strategic and 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 and future outlook. It helps in validating and strengthening the secondary research findings. It further develops the analysis team s expertise and market understanding. Primary research involves correspondence, telephone interviews and face-to-face interviews for each market, category, segment and sub-segment across geographies. Page 83

17 Appendix 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 paramedics. 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 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: Gross Domestic Product, Inflation rate.. 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. Page 84

18 Appendix 12.6 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. Page 85