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PET Scanner Market India PET Scanner Market – March 2013
Executive Summary
Market
PET scanner market in India was pegged at INR ‘b1’ bn in 2011 and is expected to grow at a CAGR of x1% till 2015e Rising demand from non‐metros and tier II cities will result in a higher number for PET scanners b i being sold ld
Drivers:
Drivers & Challenges
Technological Trends
Challenges:
Increasing number of cancer cases Increasing cardiovascular diseases I i di l di Growth in private hospitals and diagnostic centers Changing demographic structure Increasing healthcare spending Increasing healthcare spending
High costs and operational requirements Lack of insurance coverage for PET scans
Hybrid Imaging New PET Tracers
Major Players
Competition
Company 1
Company 2
PET SCANNER MARKET IN INDIA 2013.PPT
Company 3
2
•Economic Indicators •Introduction •Market Overview •Drivers & Challenges •Technological Technological Trends Trends •Competitive Landscape •Strategic Recommendations •Strategic Recommendations •Appendix PET SCANNER MARKET IN INDIA 2013.PPT
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Economic Indicators (1/3) GDP at Factor Cost: Quarterly INR tn 14
a1 b1
12
c1
a2 b2 c2
11
d1
d2
13
b4 c4
b3 c3
d4
d3
10 Q1
Q2 2009‐10
2010‐11
Q3 2012‐13
2011‐12
Q4
Inflation Rate: Monthlyy % 1.0
a
c
08 0.8 0.6
b
d
e
Oct 2012 ‐ Nov 2012
Nov 2012 ‐ Dec 2012
0.4 0.2 0.0
Jul 2012‐ Aug 2012
Aug 2012 ‐ Sep 2012
Sep 2012 ‐ Oct 2012
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PET is a form of nuclear imaging that is useful for detecting cancer, brain disorders, heart conditions and other diseases Positron Emission Tomography • Positron emission tomography is a noninvasive and painless molecular imaging technology that allows physicians Positron emission tomography is a noninvasive and painless molecular imaging technology that allows physicians to determine how organs and tissues inside the body are functioning on a molecular and cellular level Working of a PET Scanner • During a PET scan, a patient is injected with a very small amount of a radiotracer such as fluorodeoxyglucose During a PET scan a patient is injected with a very small amount of a radiotracer such as fluorodeoxyglucose containing both sugar and a radioactive element which is absorbed by the tissues or the organ being studied • Signals are emitted by the radiotracer which are received by an array of detectors contained in the PET scanner • With the help of these signals, the metabolic activities are measured by the PET scanner and a computer reassembles the signals into images reassembles the signals into images Uses of PET Scanners • PET is useful for diagnosing and determining the stages of various types of cancer such as lung, colorectal, esophageal lymphoma melanoma breast thyroid cervical pancreatic and brain cancers esophageal, lymphoma, melanoma, breast, thyroid, cervical, pancreatic and brain cancers • It can detect the onset of neurological disorders such as Alzheimer's disease and other memory disorders • It is useful in detecting cardiovascular diseases such as coronary artery disease and heart damage following a heart attack and can pinpoint areas of decreased blood flow, such as those with blockages, and differentiate living muscle from damaged muscle living muscle from damaged muscle
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Indian market for PET scanners is poised to grow at a steady rate in the coming years Market Overview
Market Size and Growth (Value‐wise)
• Indian market for PET scanners is expected to show steady growth in coming years, providing strong opportunities to present and potential players to earn high revenues and increase their profits
INR bn 4 3
In 2011, the market for PET scanners was valued at INR ‘b1’ bn, with sales of ‘b2’ units
2
By 2015, this value is expected to increase to INR ‘g1’ bn and will see sale of about ‘g2’ units
0
• Average price of PET scanners in 2011 was INR ‘u’ mn and is expected to fall to around INR ‘v’ and is expected to fall to around INR v mn by 2015 mn by 2015 Despite falling prices, the greater volumes sold will result in steady growth in the market – Demand for PET scanners is fast arising from non‐metros and tier II cities which will result in higher volumes sold
• Indian market is monopolized by three companies, Company 1, Company 2 and Company 3 • Also, several technological advancements are taking place which will lead to growth in the market place which will lead to growth in the market
g1
x1% 1%
a1
b1
f1 d1
c1
1
2010
2011
2012e
2013e
2014e
2015e
Market Size and Growth (Volume‐wise) Units g2
60 50 40 30 20
x2%
f2 d2
a2
b2
c2
10 0
2010
PET SCANNER MARKET IN INDIA 2013.PPT
2011
2012e
2013e
2014e
2015e
6
Drivers & Challenges – Summary
Drivers Increasing number of cancer cases
Challenges
Increasing cardiovascular diseases
High costs and operational requirements
Growth in private hospitals and G hi i h i l d diagnostic centers
Lack of insurance coverage for PET scans
Changing demographic structure Increasing healthcare spending
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Using computed tomography in combination with PET has brought together the best of the two imaging modalities Fusion Imaging (1/2) Computed Tomography (CT) • Computed Tomography (CT) is a kind of diagnostic imaging technique that uses transmission imaging and is an advanced form of X‐Ray machines and these emit electromagnetic waves and capture those that pass through the body • CT scanners provide cross‐sectional or two‐dimensional views of bones, organs, tumors, and other tissues in the body and is one of the primary tools of measurement in oncology evaluation
CT in combination with PET • PET/CT scan combines the strengths of the two imaging modalities into a single scan • While the PET scan provides images of the disorders inside the body at the molecular level, the CT scan provides a detailed picture of the body's internal anatomy • At first, the CT portion of the exam is performed in which X‐ray beams pass through the body from many At first the CT portion of the exam is performed in which X ray beams pass through the body from many different angles and sophisticated sensors measure the amount of radiation absorbed by the different tissues of the body after which the PET scan is performed • Once the images are acquired, the data is processed on a special workstation which performs three‐dimensional fusion of the PET data with the CT data and the fused image represents the most comprehensive view of both g p p the form and function of disease available today
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Competitive Benchmarking (1/4) Key Ratios of Top 3 Companies – Operational Basis (FY 2012) (1/3) Operating Margin
% 6
Net Margin
a1
4
b1
a3
a2 b2
b3
2 0
Company 1
Company 2
Company 3
• Company 1 recorded operating margin of a1%, higher than that of both Company 2 which recorded operating margin of a2% and Company 3 which recorded operating margin of a3% • Company 1 recorded net margin of b1%, higher than that of both Company 2 which recorded net margin of b2% and Company 3 which recorded net margin of b3%
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Public: Foreign Company – Company 1 (1/4) Company Information
Offices and Centres – India
Corporate Address Tel No. Fax No. Website Year of Incorporation Ticker Symbol Stock Exchange
Products and Services Products and Services Category Medical Solutions Service Programme
Head Office
Products/Services
Key People N Name
D i ti Designation
Person 1
Chairman
Person 2
MD
Person 3
CFO
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Public: Foreign Company – Company 1 (2/4) Financial Snapshot i i lS h Total Income
INR bn 150
a27
8b2
a1
b1
K Key Ratios i Net Profit/Loss
INR bn
c2
10
100 50
c1
d1 d2
0
5
0 2009
2010
2011
2012
Financial Summary
Particulars
y‐o‐y change 2012 (2012‐11)
2011
2010
2009
Profitability Ratios Operating Margin Net Margin Profit Before Tax Margin Return on Equity Return on Capital Employed Return on Working Capital Return on Assets Return on Fixed Assets
Cost Ratios
• Company earned a net profit of INR X mn in FY 20XX, as compared to net profit/net loss of INR Y mn in FY 20YY • Company reported total Income of INR XX mn in FY 20XX, registering an increase of X per cent over FY 20YY • Company earned an operating margin of X.X per cent in FY 20XX adecrease of X.X percentage points over FY 20YY
Operating costs (% of Sales) Administration costs (% of Sales) Interest costs (% of Sales) Interest costs (% of Sales)
Liquidity Ratios Current Ratio Cash Ratio
Leverage Ratios Debt to Equity Ratio Debt to Capital Ratio b i l i Interest Coverage Ratio
Key Financial Performance Indicators Indicators Market Capitalization (INR mn) Total Enterprise Value (INR mn) EPS (INR) EPS (INR) PE Ratio (Absolute)
Value (29/01/2013)
Efficiency Ratios Fixed Asset Turnover Asset Turnover Current Asset Turnover Working Capital Turnover Capital Employed Turnover Improved
PET SCANNER MARKET IN INDIA 2013.PPT
Decline
11
Public: Foreign Company – Company 1 (3/4) Key Business Segments Segment 1 100%
Segment 2
a% % b%
50%
c% d%
0%
2012
Key Geographic Segments Segment 3
Segment 4
Region 1
%
Region 2
100%
Information regarding business segments prior to FY 2012 is not available
50% 0%
100%
q1%
q2%
q3%
q4%
p1%
p2%
p3%
p4%
2009
2010
2011
2012
Business Highlights Description
Details
Overview
• Healthcare business of the company was conducted through Company A which got amalgamated with Company 1 in Mar 2011
X‐Ray Products
• Developed solar‐powered x‐ray machines at their manufacturing facility in Goa in 2010 D l d l d hi t th i f t i f ilit i G i 2010 • Developed solar‐powered x‐ray machines at their manufacturing facility in Goa in 2010 • Major products of the company in the x‐ray market are Model 1, Model 2, Model 3, Model 4, Model 5, Model 6 and Model 7
New Launches
• It has incorporated three new healthcare products under its environment portfolio namely Somatom Definition Flash computer tomograph, the Axiom Luminos dRF fluoroscopy system and the Ysio X‐ray
Share Holding Pattern
• l% is held by Company B while Public shareholding comprises m%% and other non‐institutional bodies comprise n%% as on 31st Dec, 2010 PET SCANNER MARKET IN INDIA 2013.PPT
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Public: Foreign Company – Company 1 (4/4)
S
W
O
T
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