Abstract
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 are also included
In 2007, the European market for surgical navigation systems was valued at
almost $120 million. The market comprises surgical navigation systems for
neurosurgery procedures; spine procedures; ear, nose, and throat (ENT)
procedures; and orthopedic procedures. Surgical navigation was embraced by
European surgeons, particularly in neurosurgery and orthopedic departments, so
these segments are highly penetrated.
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
- Surgical Navigation 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 surgical navigation 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.
In addition, a sample of relevant physicians is also surveyed using an online
questionnaire. Physicians are asked to comment on various issues/trends, both
in their own practice and in the overall market. The responses provided are
then used to strengthen or augment the assumptions and hypotheses developed
during the primary research phase.
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 navigated surgical
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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