Japanese Markets for Interventional Cardiology Devices 2009

Abstract

The Japanese interventional cardiology (IC) device market comprises the sale of coronary stents, percutaneous transluminal coronary angioplasty balloon catheters, accessory devices, and intravascular imaging catheters. Over the forecast period, unit sales will be driven by an increasing number of percutaneous coronary interventions performed to treat coronary artery disease. In 2009 and 2010, the introduction of four new drug-eluting stent (DES) brands will boost usage of premium-priced DES through 2014. The Japanese government is making great attempts to curb health care spending and through biennial reimbursement cuts is pressuring hospitals to limit device use. The combination of these factors will result in a continued drop in revenues through 2014. Prices will erode severely due to increased market competition, and reimbursement cuts imposed by the Japanese Ministry of Health, Labour and Welfare (MHLW) will impact revenues considerably.

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.

• Government Sources:
  • Securities and Exchange Commission filings
  • Food and Drug Administration and patent filings
  • National Center for Health Statistics data
• Interventional Cardiology (IC) 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.

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 IC 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.