Abstract
The European video and high-tech hardware device market will experience
moderate expansion through 2014, driven by the introduction and adoption of
technologically advanced devices, including high-definition television (HDTV)
camera systems and light-emitting diode (LED) surgical lights and light
sources, which are generally priced at a premium. The clearer images offered
by HDTV systems will boost their adoption over less expensive
standard-definition (SD) camera systems, propelling market expansion
throughout the forecast period. Increased HDTV camera system sales will also
drive revenues in the accessory markets that offer HDTV- including surgical
monitors and data capture devices- because facilities will need to purchase
these devices to fully realize the visual benefits provided by the technology.
The economic downturn will, nonetheless, limit market growth in the beginning
of the forecast period because capital equipment budgets will be reduced or
frozen. In response to tighter health care budgets, facilities will negotiate
greater discounts for bulk purchases, and consequently, manufacturers will
need to decrease prices in order to remain competitive. These limited budgets
combined with the growing influence of group purchasing organizations will
lead to average selling price declines over the forecast period.
Countries covered in report: France, Germany, Italy, Spain, and the UK
Methodology
Research Methodology
The following report uses a number of methodologies to gather and present data
and analysis. At the outset, a large survey of secondary sources is conducted.
These sources act as the basis for the primary research stage, which builds
and enhances the quantitative and qualitative attributes of the early research.
Secondary sources include:
- Government Sources:
- Securities and Exchange Commission filings
- Food and Drug Administration and patent filings
- National Center for Health Statistics data
- Video and High-Tech Hardware Device Companies:
- Annual reports, product brochures, corporate profiles, etc.
- Internal Databases and Reports:
- Previous reports on similar/related sources
- General Internet Searches, Medical Literature, and Newspaper/Magazine
Searches:
- Identifying various centers of specialization and articles that might
provide leads for primary research.
The secondary research stage builds the foundation for the primary research.
The primary research methodology has four steps:
Step 1: The first step involves an impartial scan of all the
information gathered during the secondary research stage to determine its
utility based on the specific requirements of this report. Each piece of
information is, thus, either discarded or marked as high or low priority. It
is then organized appropriately as determined by the structure and sectioning
of the report.
Step 2: At this stage, early assumptions are formed as to the
implications of the information for the various video and high-tech hardware
device market segments. These assumptions are then used to determine
hypotheses using both inductive and deductive approaches. On the quantitative
front, these hypotheses result in full historical and projected market data
sets (market sizes [units and US$] and market shares).
Step 3: At this stage, the research is in position for its most
important primary phase - expert interviews. Throughout the secondary
research, industry and medical experts are identified. These experts are now
contacted by telephone and asked to participate in interviews on recent trends
and developments in the industry. Interviews are either conducted at the time
of the initial call or scheduled at the convenience of the expert. Interview
questions are tailored to the expertise of the particular interviewee,
although in most cases, the most important questions are asked of all experts.
The questions are largely based on the assumptions and hypotheses developed in
Step 2, which are then either augmented, discarded, or adjusted, based on the
views and positions put forth. Attempts are made, whenever possible, to
cross-check the views of various experts against each other and reach
positions of consensus on issues and market numbers.
Step 4: The final stage of primary research involves individual and
group analysis by Millennium Research Group. All research results are assessed
and cross-checked thoroughly to determine their validity, relevance, and
weight. From this process, qualitative conclusions are reached and data points
finalized.
Forecast Methodology
In addition to Steps 1 through 4 (as outlined above), the following
“bottom-up” methodology was followed in developing forecast
assumptions for this report.
A comprehensive breakdown of various video and high-tech devices was prepared
using data from several sources including professional associations,
government statistics, and private research/media sources. Industry experts
and practitioners were consulted to ensure accuracy and verify observed
trends. As a cross-check, total industry revenues available through 10-Ks and
other sources were compared against modeled industry revenues.
Using the best estimates of industry experts, practitioners, private
research/media sources, and in-house experts, year-by-year growth rates and
average selling prices were applied individually to each subcategory to derive
forecasts. These estimates were cross-checked by industry experts (marketing
managers, product managers, CEOs, etc.) and further refined.
Overall findings were compared against market and procedure forecasts
published by other sources to ensure reasonable estimates.
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