|To: |Dr. Stone |
|From: |Ruben Olivier |
|Date: |17 June 2012 |
|Subject: |Marketing analysis – Gold Tip Ablation Catheter for Atrial Fibrillation |
1. Executive Summary 2. Target Group 2.1 Customer 2.2 Consumer 3. Market Characteristics 4. Market Trends 5. Market Segmentation 5.1 Geographic segmentation 5.2 Demographic segmentation 5.3 Psycho graphic segmentation 5.4 Behavioral segmentation 5.5 Customer segmentation 6. Benefits 7. Rank 8. Summary
1. Executive Summary:
Catheter ablation for Atrial Fibrillation (AF) has become the first line treatment to reduce the risk of strokes and improves the quality of life (QoL) in an aging population. The global ablation technologies market was valued at $7.5 billion in 2011 and is poised to grow at a compound annual growth rate (CAGR) of 10.5% to reach $12.4 billion by 2016. The significant growth seen in recent years in terms of ablation procedures is mainly driven by healthcare, demographic, and cost-effective factors.
Pushing the growth of advanced ablation catheters beyond basic changes in demographics are the unique benefits that they offer. Catheter ablation procedures are typically less invasive than traditional surgery and are generally employed without the need for an implant. The therapies can be precisely metered and can be repeated. Emerging advanced ablation catheters like the Gold Tip Ablation Catheter (GTAC) have the potential to grow at significant double-digit rates, compared to industry standard as safety and efficacy improve patient outcomes.
Below is a visual illustration courtesy of a report from MRG 2009, the largest growth over the next few years are expected to come from advanced ablation catheters such as the GTAC and force sensing technology.
In this report I aim to highlight the current and future trends in cardiac ablations, highlight the segmented market most suitable and successfully penetrate the market. Steps following this would involve expanding geographically.
2. Target group:
The customer and/or consumer are the gatekeepers to the account and to the sale. Both customers and consumers have different requirements and needs.
2.1 Customer: Physicians/Procurement
The needs of the customer include product quality and the best price per quantity. For the GTAC it would be to purchase the product at the market price utilizing its superior clinical results whereby it reduces repeat procedures, and hospital bed occupation. Therefore saving the Healthcare Authorities (HCA) money and freeing up the operating theater by reducing procedural time. This will allow for increased procedures and increased revenue for the HCA.
2. Consumer: Physicians
The physician as the consumer has far greater interest in the product itself and the supporting clinical outcomes associated with the use of the product than price. The consumer focuses on the product performance in terms of maneuverability, reliability and compatibility with other systems. With the fierce competition in this market space these factors will greatly influence the decisions of each product used.
3. Market characteristics:
The US constitutes the largest regional market for electrophysiology mapping and ablation devices worldwide, followed distantly by Europe, as stated by the new market research report on Electrophysiology Mapping and Ablation Devices. Diagnostic electrophysiology catheters…