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Abstract :
Netscribes’ latest market research report titled X-Ray Equipment Market in India 2015 states that the demand for x-ray equipment in the country is increasing due to a number of factors. Healthcare sector in India is growing at a tremendous rate with a large number of hospitals and diagnostic centers being set up. X-ray machines being an indispensable part of most medical centers, the market is experiencing steady demand. The market is categorized into analog and digital segments. At present the market is experiencing a shift from analog to digital models owing to the better imaging results of the latter as well as willingness of medical centers to improve their services. The growing target base of consumers will boost sales and the market is expected to exhibit steady growth in future.
Despite the market for medical devices being mostly dominated by multinational companies, in the case of x-ray equipment, there are a large number of both domestic and foreign companies operating in the market. The presence of a large number of players has ensured there is stiff competition in the market. Companies look to outdo each other by providing additional features in their products, or by providing products with similar features at a lower price. Products from foreign companies are generally priced higher than the products of Indian companies and these products are mostly used by the top hospitals in large cities. However, with medical centers in smaller cities and towns also striving to provide quality service, Indian companies are also experiencing high demand for their products. Overall, the market for x-ray equipment is exhibiting steady growth and holds ample opportunities for the players operating in this market.
Table of Contents :
Slide 1: Executive Summary
Macroeconomic Indicators
Slide 2: GDP at Factor Cost: Quarterly (2011-12, 2012-13, 2013-14, 2014-15), Inflation Rate: Monthly (Jul 2013 – Dec 2013)
Slide 3: Gross Fiscal Deficit: Monthly (Feb 2013 – Jul 2013), Exchange Rate: Half Yearly (Apr 2014 – Sep 2014)
Slide 4: Lending Rate: Annual (2011-12, 2012-13, 2013-14, 2014-15), Trade Balance: Annual (2010-11, 2011-12, 2012-13, 2013-14), FDI: Annual (2009-10, 2010-11, 2011-12, 2012-13)
Introduction
Slide 5: Uses and Functions of X-Rays, and Comparative Analysis of Major Diagnostic Imaging Equipment
Slide 6: Types of X-ray Machines
Market Overview
Slide 7: X-Ray Equipment – Market Overview, Market Size & Growth (Value-Wise; 2010 – 2019e)
Slide 8: X-Ray Equipment – Market Overview, Market Size & Growth (Volume-Wise; 2010 – 2019e)
Slide 9: Analog Equipment – Market Overview, Market Size & Growth (Value-Wise; 2010 – 2019e)
Slide 10: Analog Equipment – Market Overview, Market Size & Growth (Volume-Wise; 2010 – 2019e)
Slide 11: Digital Radiography Equipment – Market Overview, Market Size & Growth (Value-Wise; 2010 – 2019e)
Market Research Report : X ray equipment market in india 2015 - Sample
1. Insert Cover Image using Slide Master View
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X-Ray Equipment Market – India
February 2015
2. 2X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Executive Summary
Market
Drivers &
Challenges
Government
Regulations
Competition
X-ray equipment market in India is expected to grow at a CAGR of ‘x’% from 2013 to 2019e in
value-terms and at a CAGR of ‘y’% in volume-terms during the same period
Market is segmented into analog and digital models with digital models growing at a significantly
higher rate compared to analog models
Superior features of digital models have made them the more preferred alternative and they are
rapidly replacing analog models in most medical establishments
Drivers:
Growing number of hospitals and diagnostic centers
Increasing occurrence of road accidents
Increasing number of osteoporosis patients
Advancements in technology and innovation
Convenient and time saving
Challenges:
Hazardous radiation
effects
Poor after sales service
Installation procedure
Personnel requirements and duties
Safety measures
Major Domestic Players Major Foreign Players
Company 1 Company 3 Company 5
Company 2 Company 4 Company 6
4. 4
Macroeconomic Indicators (1/3)
12
13
14
15
16
INR tn
Q4
d3
d2
d1
Q3
c3
c2
c1
Q2
b3
b2
b1
Q1
a4
a3
a2
a1
2014-152013-142012-132011-12
GDP at Factor Cost: Quarterly
Inflation Rate: Monthly
-2
-1
0
1
2
%
Nov 2013 - Dec 2013
-t
r
Oct 2013 - Nov 2013
s
q
Sep 2013 - Oct 2013Aug 2013 - Sep 2013Jul 2013 - Aug 2013
p
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
5. 5
• Indian X-ray equipment market is showing steady growth and provides strong opportunities to existing and potential
players
• In terms of value, the market is forecasted to grow at a CAGR of ‘x’% between 2013 and 2019, reaching INR ‘k’ mn in
2019 from INR ‘d’ mn in 2013
• Analog equipment which presently accounts for a large share of the market will face low demand in future
• Indian x-ray equipment market is less developed than the US, European, and Chinese markets as these markets
transitioned to the digital technology at a much faster rate
Market Size & Growth (Value-Wise)
X-Ray Equipment Market – Overview (1/2)
Market Overview (1/7)
0
1,000
2,000
3,000
4,000
5,000
h2%
2015e
g
g1%
g2%
2014e
f
f1%
f2%
2013
d1%
d
d2%
2012
c
c1%
c2%
2011
b
b1%
b2%
2010
a
a1%
a2%
INR mn
j
2017e
i2%
h1%
k
k2%
2018e
j1%
j2%
i
i1%
2016e
h
+x%
2019e
k1%
Segment 1 Segment 2
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
6. 6
Earnings arising out of exports of x-ray equipments has
continued to be higher…
• Unlike most other medical instruments, in case of x-
ray equipment, exports are clearly higher than
imports
Domestic manufacturers earn high revenues by exporting
their products
However, in 2013-14 exports experienced a slight decline
compared to 2012-13
• Country 1 has been the biggest export hub for Indian
manufacturers followed by Country 2 and Country 3
Exports – Overview Export of X-ray Equipments
Export – Value (Region Wise: 2013-14)
0
2,000
4,000
6,000
8,000
0
20
40
60
80
100
‘000 unitsINR mn
2013-14
s1
s2
2012-13
r1
r2
2011-12
q1
q2
2010-11
p1
p2
ValueVolume
b2%
a2%
h2%
i2%
g2%
d2% f2%
c2%
Export – Value (Region Wise: 2012-13)
a1%
b1%
c1%
d1% h1%
f1%
i1%
g1%
Country 1
Country 3
Country 4
Country 6
Others
Country 7
Country 5
Country 2
Country 1
Country 2
Country 3
Others
Country 6
Country 5
Country 7
Country 4
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
7. 7
Drivers & Challenges – Summary
Drivers
Growing number of hospitals and
diagnostic centers
Increasing occurrence of road
accidents
Increasing number of osteoporosis
patients
Advancements in technology and
innovation
Convenient and time saving
Challenges
Hazardous radiation effects
Poor after sales service
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
8. 8
Government Regulations – Summary
Government
Regulations
Installation procedure
Safety measures
Personnel requirements
and duties
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
9. 9
Competitive RivalryBargaining Power of Suppliers Bargaining Power of Buyers
Threat of Substitutes
Threat of New Entrants
Impact
Low
Impact
Medium
Impact
High
Impact
Low
Impact
Medium
Market Competition – Porter’s Five Forces Analysis
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
10. 10
Key Ratios of Top 3 Companies – Operational Basis (FY 2013) (1/3)
Competitive Benchmarking (1/4)
0
5
10
15
20
25
a3
Company 3
%
Company 2
b3
b2a2
Company 1
b1
a1
Net MarginOperating Margin
• Allengers Medical Systems Ltd. recorded operating margin of a1%, higher than that of Philips Electronics India Ltd. and
Agfa HealthCare India Pvt. Ltd. which recorded operating margin of a3% and a2% respectively
• Net margin was highest for Allengers Medical Systems Ltd. which recorded a net margin of b1%, followed by Philips
Electronics India Ltd. and Agfa HealthCare India Pvt. Ltd. which recorded net margin of b3% and b2% respectively
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
11. 11
Key People
Products and Services
Company Information Offices and Centres – India
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Ticker Symbol
Stock Exchange
Name Designation
Person 1 Chairman
Person 2
Chief Executive Officer and
Managing Director
Person 3
Chief Financial Officer and
Executive Director
Category Products/Services
Medical Imaging
Laboratory
Diagnostics
Therapy Systems
Public: Foreign Company – Company 1
(1/4)
Head Office
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
12. 12
Key Ratios
Financial Summary
• The company earned a net profit of INR XX mn in FY 20XX, as compared to
net profit of INR Y mn in FY 20YY
• It reported total Income of INR XX mn in FY 20XX, registering a decrease of
X per cent over FY 20YY
• It earned an operating margin of X.X per cent in FY 20XX an increase of X.X
percentage points over FY 20YY
• It reported debt to equity ratio of X.XX in FY 20XX, an increase of X.X per
cent over FY 20YY
Particulars
y-o-y change
(2014-13)
2014 2013 2012 2011
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
Operating costs (% of Sales)
Administration costs (% of
Sales)
Interest costs (% of Sales)
Liquidity Ratios
Current Ratio
Cash Ratio
Leverage Ratios
Debt to Equity Ratio
Debt to Capital Ratio
Interest Coverage Ratio
Efficiency Ratios
Fixed Asset Turnover
Asset Turnover
Current Asset Turnover
Working Capital Turnover
Capital Employed Turnover
Improved Decline
Financial Snapshot
Financial Summary
Indicators Value (05/01/2015)
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)
Net Profit / LossTotal Income
0
50,000
100,000
150,000
0
2,000
4,000
6,000
8,000
10,000
INR mnINR mn
2014
d2
d1
2013
c2
c1
2012
b2
b1
2011
a2
a1
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Public: Foreign Company – Company 1
(2/4)
13. 13
Key Business Segments Key Geographic Segments
Business Highlights
0%
50%
100%
d3%
b2%
a2%
c3%
2012
c1%
d2%d1%
b1%
c2%
b3%
2013 2014
a3%a1%
0%
50%
100%
2014
s2%
2013
r2%
r1%
2012
q2%
2011
p2%
p1% s1%q1%
Description Details
Overview
X-Ray Products
New Launches
Infrastructure HealthcareIndustryEnergy Outside IndiaIndia
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Public: Foreign Company – Company 1
(3/4)
15. 15
Private: Domestic Company – Company 2
(1/5)
Key People
Products and Services
Company Information Offices and Centres – India
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Category Products/Services
Radiology
Cardiology
Surgery
Neurology
Name Designation
Person 1 Chairman and Managing Director
Person 2 Additional Managing Director
Person 3 Whole-Time Director
Person 4 Whole-Time Director
Head Office
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
16. 16
d%b%
c%
a%
Category 1 Category 4Category 2 Category 3
Shareholders of the Company Ownership Structure
Name No. of Shares held
Shareholder 1
Shareholder 2
Shareholder 3
Shareholder 4
Shareholder 5
Shareholder 6
Shareholder 7
Shareholder 8
Total
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2
(2/5)
17. 17
Financial Snapshot Key Ratios
Financial Summary
• The company earned a net profit of INR XX mn in FY 20XX, as
compared to net profit of INR Y mn in FY 20YY
• It reported total Income of INR XX mn in FY 20XX, registering an
increase of X per cent over FY 20YY
• It earned an operating margin of X.X per cent in FY 20XX an
increase of X.X percentage points over FY 20YY
• It reported debt to equity ratio of X.XX in FY 20XX, an increase of
X.X per cent over FY 20YY
Improved Decline
Net Profit / LossTotal Income
500
-50
1,500 100
50
0
1,000
0
2,000 150
a1
2012
b1
2011
b2
c2
INR mn
d1
a2
2013
d2
c1
2010
INR mn
Particulars
y-o-y change
(2013-12)
2013 2012 2011 2010
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
Operating costs (% of Sales)
Administration costs (% of
Sales)
Interest costs (% of Sales)
Liquidity Ratios
Current Ratio
Cash Ratio
Leverage Ratios
Debt to Equity Ratio
Debt to Capital Ratio
Interest Coverage Ratio
Efficiency Ratios
Fixed Asset Turnover
Asset Turnover
Current Asset Turnover
Working Capital Turnover
Capital Employed Turnover
X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT
Private: Domestic Company – Company 2
(3/5)
20. 20
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X-Ray Equipment Market – India report is part of Netscribes’ Healthcare Series.
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X-RAY EQUIPMENT MARKET IN INDIA 2015.PPT