Abstract
This market was valued at almost $150 million in 2007 with revenues generated
by the bridge-to-transplant segment representing approximately half of the
total market.
The US ventricular assist device market comprises commercially available
paracorporeal and implantable devices used in bridge-to-recovery,
bridge-to-transplant, and destination therapy heart failure patients.
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
- Ventricular Assist Device(VAD) 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 VAD 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 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 Step2, 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
methodology was followed in developing forecast assumptions for this report. A
comprehensive break down of various VAD 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 10Ks 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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