Transcript The European Contrast Media Market, 2002

The European Contrast Media Market,
2002
Interactive Analyst Briefing
Sumit Sharma
London, UK
27th Sept, 2002
Agenda
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Objective of the report & briefing
Definitions & Overview
Market Situation Analysis
Future Market Trends Analysis
Competitive Environment
Challenges Facing the Market Players
Strategy Formulation
Conclusions
Objective and Value of the Report
“To enable guidance for future marketing and strategic
decisions by imparting thorough knowledge and
analysis of the existing and future European contrast
media market in terms of demand, market age,
strategic implications, competition, revenues and other
market dynamics.”
Value-added feature of this report
Procedural data of all modalities under study
• Demand estimation
• Overview of growth segments for possible NPD
Objectives of the Briefing
• Offer in-depth assessment of the European
contrast media market
• Identify key issues that affect general marketing
environment
• Discuss future strategies that could be applicable
for consolidation
• Exchange ideas, opinions and views of the market
for the present and the future
Definitions and Overview
• Definition
– Radio-opaque substances used to provide a contrast
in density between the tissue or organ being filmed
and the medium
• Use
– Helps easier visibility of soft tissues in various
imaging procedures
• Disadvantages
– Side-effects like skin reactions, nephrotoxicity, etc.
• Market Definition
– Total revenue comprising of contrasting agents used
in all the imaging procedures within the modalities
under study across Europe
Definitions and Overview…
• Market Segmentation
– Based on modalities where contrasting agents
are used for imaging
• X-ray / CT: Conventional X-ray, Angiography,
CT
• MRI
• Ultrasound
• Not included are air contrast agents radiopharmaceuticals
Market Situation Analysis
• Major Driving Factors
 Faster imaging techniques increasing consumption
 Increasing installed base of certain modern imaging
equipments (MRI)increasing the number of imaging
procedures
 Favourable population structure
• Major Restraining Factors
 New Imaging techniques decreasing the use of contrast
media
 Price controls and price competition leading to constant
price erosion
 Older equipments retarding growth rate due to inefficiency
 Market saturation of conventional X-ray segment
 Financial constraints in a few markets leading to price
sensitivity
Market Situation Analysis...
• Key Market Trends
– Demand highest in CT and MRI segments in terms of
number of procedures and usage (included in the report)
– Increasing focus on innovation within the MRI segment
– Growing need for tissue and organ specific contrasting
agents
– Increasing demand for low-dosage, long life contrast
media
• Market Revenues
– 2005 - Over US$800 million with growth rate less than 5%
per annum
– Germany is the highest revenue contributor
Market Situation Analysis...
Market Revenues (Europe), 1998-2008
1,000.0
800.0
600.0
400.0
200.0
.0
1998 1999
2000 2001 2002
2003 2004 2005
2006 2007 2008
Market Situation Analysis...
Percent Revenues by Product Type (Europe),
1998-2008
90.0
80.0
70.0
60.0
CT / X-Ray
50.0
40.0
MRI
Ultrasound
30.0
20.0
10.0
08
20
07
20
06
20
05
20
04
20
03
20
02
20
01
20
00
20
99
19
19
98
0.0
Market Situation Analysis...
Percent of Revenues by Geographic
Regions (Europe), 2001
Scand.
9%
Benelux
7%
Italy
15%
Germany
35%
Spain
8%
UK
9%
France
17%
Challenge
Strategic
Responsibility
Sales & R&D Management
Marketing
Slow adoption of new products
restricting sales
Confidence building, since,
acceptance of products based on
safety and quality record in the
marketplace
Increasing product range involves
high R&D and marketing
investment
Overcoming market saturation and
developing competencies in
attractive segments
Understanding industry and market
requirements to enable improve
business activities
Developing cost-effective products
to serve the price sensitive market
Unclear reimbursement policies
related to contrast media
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Future Market Trends Analysis
• CT likely to lose market share due to new
technologies
• MRI segment likely to gain the maximum due to
increasing reliability on the modality
• X-ray market will saturate by 2005
• Reimbursement issues will drive efficiency
• Demand for injectors and syringes expected to
increase significantly
• Growing interdependence of the medical imaging
and the contrast media industries for NPD
Competitive Environment
• Key competitive factors
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Pricing
Product differentiation & innovation
Time to market and first mover advantage
Quality: minimum side-effects
R&D expertise
Strategy Formulation
Strategy
Corporate
Level
Management
Functional
Level
Sales
Marketing
R&D
Conclusions
• Major growth potential in the MRI segment
• New products likely to be soon in the marketplace
• Closer relationship of the market players and OEM
manufacturers likely to be seen
• Future growth Strategy likely to be consisting of
– Increased focus on the MRI segment
– Strategic alliances and M&As
– Customer focussed differentiation approach (packaging,
etc.)
– Cost-effectiveness approach
– Development of niche markets
Thank you!
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