Abstract
US, China, Europe (France, Germany, Italy, Spain, and the UK), Russia, India, and Brazil
The global market for general radiography systems is composed of sales of
analog radiography, computed radiography (CR), and direct radiography (DR)
systems. Over the forecast period, this market will grow modestly but
expansion will be tempered by the global economic crisis. As a result of
tightening credit, facilities will find it increasingly difficult to raise
capital to invest in new systems, while market maturity in Europe will further
curb unit sales. The benefits of digital systems to radiography departments,
however, will significantly spur the uptake of these systems. Moreover, as the
global population ages, procedure volumes will steadily increase, placing
greater demand on radiography departments to streamline workflow. Compared to
analog systems, digital radiography solutions - CR and DR systems - simplify
the processing of radiographs and as a result, demand for these systems will
continue to rise, boosting market revenues through 2013
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
- General Radiography System 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 general radiography system
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 general
radiography procedures 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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