The European surgical hemostat, internal tissue sealant, and adhesion barrier
market remains both dynamic and vastly underpenetrated across the region in
2011 and is heavily influenced by numerous competing factors that will
contribute to overall revenue growth. Procedures in which these products are
most commonly used - cardiovascular and reconstructive procedures - will
continue to be driven by favorable demographics, leading to increased
procedure volumes. Procedure increases in this space will, however, be
hindered somewhat due to the increased usage of alternative low-cost treatment
options for controlling blood flow, sealing tissue, and preventing the
formation of adhesions postoperatively. Cost-consciousness among facilities in
Europe will continue to restrict revenue expansion and will be the primary
limiting factor. This fiscal restraint will cause physicians to limit their
usage of these devices, slowing device penetration in each segment to some
extent. The use of public tenders and group purchasing organizations will
cause declines in average selling prices (ASPs), limiting growth in the
European surgical hemostat, internal tissue sealant, and adhesion barrier
market. Despite these negative trends, the needs of physicians continue to go
unmet by the current product offerings; products in this space provide
benefits beyond their initial cost, which has helped these markets garner
increased attention from hospitals and physicians. With the continued
development of intuitive, technologically advanced products in all three
segments, current market players continue to jockey for position by increasing
procedural applicability for existing products while performing clinical
trials to further the boundaries of their new products. Positive clinical data
along with increased penetration by these devices across all three segments
will help to expand the European surgical hemostat, internal tissue sealant,
and adhesion barrier market through 2016.
This 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 publications, such as documentation from securities
commissions, health care and statistical agencies, and regulatory and patent
material provided by medical technology companies, including annual
reports, product brochures, and corporate profiles;
internal databases and reports, including previous reports on similar or
related topics; and
general Internet searches, medical literature, and newspaper and magazine
searches to identify 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 either discarded or marked as high- or low-priority and then
organized appropriately as determined by the structure and sectioning of the
Step 2: At this stage, early assumptions are formed as to the
implications of the information for the various 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 - unit sales,
ASPs, and revenues - as well as market shares).
Step 3: At this stage, the research is in position for its most
important primary phase - expert interviews. Throughout the secondary research
phase, industry and medical experts are identified. These experts are then
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 each 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 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 to reach positions of
consensus on issues and market numbers.
In some cases, a sample of relevant physicians is surveyed or interviewed.
Physicians are asked to comment on various issues and 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
Millennium Research Group's Marketrack methodology involves recruiting
hospital personnel responsible for the management of medical equipment and
procedures to participate by providing procedure volumes, device usage data,
and brand-level pricing information on an ongoing basis. Hospital respondents
include facility managers, nurses, administrators, and physicians. Information
is generally collected on a quarterly basis and includes, but is not limited
to, numbers and types of procedures performed and devices used.
In addition to the research methodology outlined above, the following
"bottom-up" methodology is used to develop forecast assumptions for the report.
A comprehensive breakdown of various procedures and device unit sales is
prepared using data from several sources, including professional associations,
government statistics, and private research/media sources. Industry experts
and practitioners are consulted to ensure accuracy and verify observed trends.
As a cross-check, total industry revenues available through annual reports and
other sources are compared against modeled industry revenues.
Using the best estimates of industry experts, practitioners, private
research/media sources, and inhouse experts, year-by-year growth rates and
ASPs are applied individually to each subcategory to derive forecasts. These
estimates are cross-checked by industry experts (marketing managers, product
managers, company executives, etc.) and further refined.
Overall findings are compared against market and procedure forecasts published
by other sources to ensure reasonable estimates.
Companies mentioned in this report:
HyperBranch Medical Technology
Johnson & Johnson
Table of Contents
Table of Contents
TABLE OF CONTENTS
LIST OF FIGURES AND TABLES
1. COUNTRY OVERVIEWS
1.1.1. Demographics and Economy
1.1.2. Health Care System
1.1.3. Regulatory Environment
1.2.1. Demographics and Economy
1.2.2. Health Care System
1.2.3. Regulatory Environment
1.3.1. Demographics and Economy
1.3.2. Health Care System
1.3.3. Regulatory Environment
1.4.1. Demographics and Economy
1.4.2. Health Care System
1.4.3. Regulatory Environment
1.5. European Manufacturing and Distribution
2. CLINICAL LANDSCAPE
2.2. Procedure Descriptions
2.2.1. Surgical Hemostat, Internal Tissue Sealant, and Adhesion Barrier