market research report : x-ray equipment market in india 2013

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X Ray Equipment Market IndiaX‐Ray Equipment Market – India

February 2013

Executive Summary

Market

X‐ray equipment market in India is expected to grow at a CAGR of x% from 2011 to 2016e

Market is segmented into type 1 and type 2 models with type 2 models growing at a significantly higher rate compared to type 1 models

Shift from type 1 to type 2 models is expected in the coming years due to the superior featuresShift from type 1 to type 2 models is expected in the coming years due to the superior features and convenience attached with the latter

Drivers:

Increasing number of hospitals and

Challenges:

Hazardous radiation ff

Drivers & Challenges

diagnostic centers

Rising incidence of injuries

Increasing number of osteoporosis patients

Advancements in technology and innovation

effects

Poor after sales service

Government Regulations

Convenient and time saving

Installation procedure

Personnel requirements and duties

S f tg

Competition

Safety measures

Major Domestic Players Major Foreign Players

Company 1 Company 3 Company 5

2X‐RAY EQUIPMENT MARKET IN INDIA 2013.PPT

pCompany 2 Company 4 Company 6

•Economic Indicators

•IntroductionIntroduction

•Market Overview

E t I t•Export‐Import

•Drivers & Challenges

•Government Regulations

•Competitive LandscapeCompetitive Landscape

•Strategic Recommendations

A di


•Appendix

Economic Indicators (1/3)

a2a1

INR tn

14b4c4b3

GDP at Factor Cost: Quarterly

d3

a2b2

c2

d2

a1b1

c1

d1

13

12

11

d4c3

Q2Q1

10

Q4Q32012‐132011‐122010‐112009‐10

Inflation Rate: Monthlyy

0 8

1.0

%

ca

0.2

0.4

0.6

0.8

edb


0.0

Nov 2012 ‐ Dec 2012Oct 2012 ‐ Nov 2012Sep 2012 ‐ Oct 2012Aug 2012 ‐ Sep 2012Jul 2012‐ Aug 2012

X‐ray is a major contributor to the rising growth of the diagnostic imaging market in India

•X‐rays are a type of electromagnetic radiation and X‐ray machines are the primary and most widely used diagnostic imaging tool

X‐ray – Uses and Functioning

•An x‐ray machine sends individual x‐ray particles through the body and images are recorded on a computer or film Structures that are dense (such as bone) will block most of the x‐ray particles, and will appear whiteMetal and contrast media (special dye used to highlight areas of the body) will also appear white Structures containing air will be black, and muscle, fat, and fluid will appear as shades of gray

X‐ray Machines CT Scanners MRI Equipments PET Scanners Ultrasound Machines

Areas of

Comparative Analysis of Major Diagnostic Imaging Equipments

Areas of Application

Characteristics

Radiation exposure

Price per test

(R )


(Range)

X‐ray equipments market is poised to grow in the coming years with emphasis on the digital segment

• Indian X‐ray market is showing steady growth and

provides strong opportunities to existing and 8

INR bn

X‐Ray Equipment Market – Overview Market Size & Growth

potential players

•Most x‐ray systems currently available in the Indian

market are low powered, bulky and employ very old

generation technology

4

6

8

2

dc

gx%f

ba

generation technology

•Market is currently witnessing an increasing demand

for high‐end X‐ray equipment boosted by the

introduction of computed radiography (CR) and Market Segmentation Value‐wise

0

2014e2013e2012e 2016e2015e2011

digital radiography (DR)

•More than ‘y’ X‐ray systems were in use in Indian

hospitals and diagnostic centers in 2011

• The demand for low‐end X‐ray equipment is b1%

Type 2Type 1

y q p

expected to remain stable over the next two to three

years because the Indian government will continue

investing in healthcare, as several regions lack even

basic medical equipment

a1%

a2% b2%


basic medical equipment 2010 2016e

Earnings arising out of exports of x‐ray equipments has continued to be higher…

•Unlike most of the other medical instruments, for x‐ray equipments, exports are clearly higher than

Exports – Overview Export of X‐ray Equipments

6,000 100

INR mn

c2

‘000 unitsValue

Volume

imports Domestic manufacturers earn high revenues from export of their products Exports, however experienced a slight decline in FY 2012 compared to FY 2011

2,000

3,000

4,000

5,000

40

60

80b2

d1d2c1

b1a1

a2

p

• Country 1 has been the biggest export hub for Indian manufacturers, followed by Country 2

Export (Region Wise: 2012)

0

1,000

0

20

2009 2011 20122010

Export (Region Wise: 2011)

d2%

h1%

g2%

f2%e2%u1%

v1%

w1%

s1%

t1%Country 3

Country 2

Country 1

Country 2

Country 1

Country 3

c2%

g2% a2%v1%

r1%

1%

p1%

Country 7

Oth

Country 4

Country 5

Country 6 Country 6

Country 8

Country 5

Oth

Country 4


b2%q1% Others Others

Note: Figures are for respective financial years

Drivers & Challenges – Summary

Drivers

Increasing number of hospitals andIncreasing number of hospitals and diagnostic centers

Rising incidence of injuries

I i b f i

Challenges

Hazardous radiation effects

Increasing number of osteoporosis patients

Advancements in technology and innovation

Poor after sales service

Convenient and time saving


Government Regulations – Summary

Installation procedure

GovernmentR l tiRegulations

Safety measuresPersonnel requirements

d d iSafety measures

and duties


Competitive Benchmarking (1/4)

Key Ratios of Top 3 Companies – Operational Basis (FY 2011) (1/3)

8

% Net MarginOperating Margin

2

4

6

8

c1

c2

b2b1

a2

a1

0

c2

Company 3Company 2Company 1

• Company 1 recorded operating margin of a1%, higher than that of both Company 2 which recorded operating margins of b1% and Company 3 which recorded operating margin of c1%

• Company 1 recorded net margin of a2%, higher than that of both Company 2 which recorded net margins of b2% and Company 3 which recorded net margin of c2%


Public: Foreign Company – Company 1(1/4)Company Information Offices and Centres – India

Corporate Address

Tel No.

Fax No.

Website

Year of Incorporation

Products and Services

Ticker Symbol

Stock Exchange

Key People

Products and Services

N D i ti

Category Products/Services

Medical Solutions

Head Office

Name Designation

Person 1 Chairman

Person 2 MD

Person 3 CFO

Service Programme


i i l S h K i

Public: Foreign Company – Company 1(2/4)Financial Snapshot Key Ratios

Particulars y‐o‐y change (2012‐11)

2012 2011 2010 2009

Profitability RatiosOperating Margin

Net Profit/LossTotal Income

10

INR bn

150 c28b2a27

INR bn

Net MarginProfit Before Tax MarginReturn on EquityReturn on Capital EmployedReturn on Working CapitalReturn on Assets

5

0

100

50

02012

d2d1

2011

c1

2010

b1

2009

a1

Financial Summary

• 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,

Return on Fixed Assets

Cost RatiosOperating costs (% of Sales)Administration costs (% of Sales)

Interest costs (% of Sales)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

Interest costs (% of Sales)

Liquidity RatiosCurrent RatioCash Ratio

Leverage RatiosDebt to Equity Ratio

b i l iKey Financial Performance Indicators

Indicators Value (29/01/2013)Market Capitalization (INR mn)

Total Enterprise Value (INR mn)

EPS (INR)

Debt to Capital RatioInterest Coverage Ratio

Efficiency RatiosFixed Asset TurnoverAsset TurnoverCurrent Asset Turnover


EPS (INR)

PE Ratio (Absolute)Working Capital TurnoverCapital Employed Turnover

Improved Decline

Public: Foreign Company – Company 1(3/4)Key Business Segments Key Geographic Segments

%100% 100%

%

100%

Region 2Region 1Segment 4Segment 3Segment 2Segment 1

d%c%

b%

a%

50%

0%

Information regarding business segments prior

to FY 2012 is not available

0%

50%

p4%

q4%

p3%

q3%

p2%

q2%

p1%

q1%

Business Highlights

2012 2012201120102009

Description Details

Overview• Healthcare business of the company was conducted through Company A which got amalgamated with Company 1 in Mar 2011

• 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 2010X‐Ray Products

• 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

Public: Foreign Company – Company 1(4/4)

S W

TO


Thank you for the attentionThe X‐Ray Market – India 2013 report is a part of Netscribes’ Healthcare Industry Series.For more detailed information or customized research requirements please contact:

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