1. Market Research

Russian Arthroscopy Devices Market

  • June 2014
  • 60 pages
  • Frost & Sullivan
Report ID: 2172092

Summary

Table of Contents

Government Sows Innovation, While Medical Tourism Waits to Reap Benefits

Leveraging on the middle-class population’s growing demand for non-invasive surgery and their inclination to spend out of pocket on expensive medical devices required for arthroscopic surgeries, the Health Ministry plans to support the production of local, high quality devices through Healthcare 2020, a long-term plan that encourages innovation and indirectly lowers imports. This is likely to encourage MNCs to innovate and bring down the price of international-brand arthroscopic implants. Local manufacturers, meanwhile, are likely to take advantage of the high demand for quality and support the role of arthroscopic medical devices industry as accessories suppliers for high volume, high-end public hospitals where MNCs function as principals. The Russian arthroscopy devices market is in the growth stage. Regulatory changes and a growing economy are likely to support penetration. This research service provides details about funding patterns, disease prevalence, procurement processes and distribution structure. It also provides a market share analysis, pricing analysis and revenue forecasts.

Methodology

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-Having established the initial study structure, the initial data collection commences. This prepares the analyst team for conducting primary interviews. Contact lists are drawn up, and interviews are arranged with known industry and end-user contacts, and internal Frost & Sullivan resources and databases are used to establish market straw models for subsequent validation.
-Once this step has been performed, there is sufficient information to design and validate the questionnaire that forms the basis of the primary interviews. The primary research is then conducted. Typically, a broad cross section of 20 to 30 (depending on the number of participants in the market) of the following designations are interviewed:
oProduct managers
oMarketing managers
oMarketing directors
oHeads of business development
oThe R&D community
oTrade and industry associations
oOpinion leaders in primary and secondary care, public and private sectors
oGovernment officials and implementation agencies
-These interviews, divided among each geographical region, provide the analyst team with cross-verification of data and fresh input into revenue, growth rate, equipment replacement rate, unit shipment, and installed base measures. Frost & Sullivan takes a bottom-up approach, looking at market metrics country by country and using interviews at the country level to look at grassroots issues and the effects they will have on revenues and growth. These issues include an examination of how the healthcare delivery model differs from country to country, the regulatory framework for healthcare companies, and the regulatory barriers to entry and the best route to market for global companies and smaller market participants alike. These factors shape the market calculations, building up to an overall sizing of the market.
-Once all primary research has been completed, the transcripts can then be examined in line with all secondary research and internal Frost & Sullivan databases. Input from primary research is applied to all market data to establish the market metrics. Sales activity and contracts are closely monitored throughout the year and are employed in conjunction with average pricings at this stage to establish base year revenues and market share. Wherever possible, revenue is based on invoice payment as opposed to order entry.
-The forecasting tool Frost & Sullivan uses is based on the following:
oEconometric model
oQuantitative market input
oQualitative trends that affect the growth rate
-Frost & Sullivan aims to ensure the reliability of its forecasting by using a series of quality checks. These include:
oBottom-up approach
oCross-validation
oSeveral respondents within one company
oCross-validating with other market participants
oUnique relationships with the industry
-End-user input in all research services:
oUnmet needs
oCross-validation
-Once the metrics are established, they are used to illustrate the qualitative lessons learned through secondary research and, principally, the primary interviews. These key lessons form the basis of Frost & Sullivan’s in-depth strategic recommendations, as featured in every Market Engineering research service.
-Once the initial draft is complete, Frost & Sullivan takes its results back to the market, verifying it with known industry contacts at the European marketing director or business information level. Even after publication, close attention is paid to industry feedback, and monitoring of the market continues. This drives the value proposition of the analyst access that Frost & Sullivan offers as part of its Growth Partnership Service.

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