Medical Equipment Database Process Manual

Version 12.0

























Published: August 2018

1	Table of Contents
1	Table of Contents	2
1.1	List of Tables	4
1.2	List of Figures	4
2	About This Document	6
2.1	Revision History	6
2.2	Document Update Process	8
2.3	Implementation	8
2.4	Confidentiality	8
3	Introduction	9
3.1	Database Definition	9
3.2	Key Principles	9
3.3	Database Coverage	9
3.4	Geographic Coverage	12
3.5	Timelines Objectives	12
4	People and Roles	16
4.1	GDRC Medical Markets Team Organization Chart	16
4.2	Key Responsibilities – GD and GDRC teams	17
4.3	Training Sessions for New Joinees	19
4.3.1	Markets team	19
4.3.2	Databooks team	20
5	Research Methodology	22
5.1	Market Models	22
5.1.1	Methodology Overview	22
5.1.2	Database Origination	22
5.2	Base Market Data (Top-down Methodology)	24
5.2.1	Methodology Overview	24
5.2.2	Database Origination	25
5.2.3	Quality Check	26
5.3	Data Collection Process	26
5.3.1	 Secondary Research	26
5.3.2	 Primary Research	26
5.4	Benchmarking	27
5.4.1	Market Value Benchmarking:	27
5.4.2	Country Selection for Market Value Benchmarking:	27
6	GlobalData Medical (GDM) Platform	38
6.1	Home	38
6.2	Databases	39
6.2.1	Products Database	39
6.2.2	Clinical Trials Database	40
6.2.3	Companies	41
6.2.4	Countries	41
6.2.5	Devices	41
6.2.6	Deals Database	42
6.2.7	News Database	42
6.3	Market Data	42
6.3.1	Base Market Data	42
6.3.2	Procedures	42
6.3.3	Medtrics Analysis Tool	43
6.3.4	Market Models	44
6.3.5	New Medtrics Analysis Tool	44
6.3.6	Market Data Statistics	44
6.3.7	Data and Models Upload Process	44
6.4	Market Analysis	60
6.4.1	MediPoint Reports	61
6.4.2	Country Focus Reports	61
6.4.3	Industry Analysis	61
6.4.4	Expert Insights	61
7	Databooks	62
7.1	Databooks Production	62
7.1.1	Databooks Templates Review and Approval Process	63
7.1.2	Databooks Download (Markets and Procedures)	63
7.1.3	Databooks Authoring	66
7.2	Databooks Metadata - GD Report Store and Distributors	66
7.3	Databooks Publication	67
7.4	Databooks Upload on GDM	68
7.5	Databooks Plan	71
8	Sources of Information	72
8.1	Secondary Research	72
8.1.1	Critical Points	73
8.1.2	Copyright Checks for Secondary Literature	73
8.2	Primary Research	74
8.2.1	Preparation of Questionnaire	75
8.2.2	Preparation of Contact List	75
8.2.3	Conducting Primary Interviews	76
8.2.4	Preparation of Transcripts	78
8.2.5	Follow up with the Primary Participants	79
8.2.6	Data Sourcing Guidelines	79
8.2.7	Methodology Sheet	79
8.3	Preparing Modeling Sheets	82
8.4	Company Shares	89
8.5	Product and Company Mapping	89
8.6	Distribution Share Analysis	90
8.7	Procedures (Medtrics Analysis Tool)	90
8.8	Adherence to GD IP policy	90
8.9	QC Process	91
8.9.1	QC Process – Models	91
8.9.2	QC Process – Base Market Data	95
9	Scheduled Project Plan	96
10	Reporting and Communication	97
10.1	Management Reporting	97
10.1.1	Models Trackers	97
10.1.2	Weekly Databooks Tracker	98
10.1.3	Project Calls	98
10.1.4	 Communication Tracker	99
10.1.5	 Monthly Pack	99
10.2	Verdict	100
11	Archiving	101
11.1	Market Models	101
11.2	Base Market Data Updates	102
11.3	Databooks	103
12	Disclaimer	104

1.1	List of Tables
Table 1:   Revision History	6
Table 2:   Training Sessions for New Joinees	19
Table 3:   Market Value and Distribution Share - Country Options Matrix	28
Table 4:   Average Price and Company Share - Country Options Matrix	33
Table 5:   Metadata Tracker	67

1.2	List of Figures
Figure 1:   GlobalData Medical - Markets Coverage	11
Figure 2:   GlobalData Medical - Geographic Coverage	12
Figure 3:   Production Plan 2018-19	13
Figure 4:   Production Process Overview	14
Figure 5:   GDRC Medical Team, Organization Chart	16
Figure 6:   Training Schedule Snapshot for New Joinees	20
Figure 7:   Medical Equipment Market Models, Research Methodology	22
Figure 8:   Model Flow	24
Figure 9:   Benchmarking for Overall Market Value	30
Figure 10:   Benchmarking for Category Market Value	31
Figure 11:   Benchmarking for Segment Market Value	31
Figure 12:   Benchmarking for Sub-Segment Market Value	32
Figure 13:   Benchmarking Example for Average Prices	35
Figure 14:   Benchmarking Example for Company Share	36
Figure 15:   Benchmarking Example for Distribution Share	37
Figure 16:   Sample Value and Volume Timetric Upload File	45
Figure 17:   Sample Company Share Timetric Upload File	46
Figure 18:   Sample Distribution Share Timetric Upload File	46
Figure 19:   Sample Timetric Procedure Upload File	47
Figure 20:   Market Models Upload Site	48
Figure 21:   Market Uploaded by Base Market Data	49
Figure 22:   Value, Volume and ASP Sheet in Files for Upload (1 of 2)	49
Figure 23:   Value, Volume and ASP Sheet in Files for Upload (2 of 2)	50
Figure 24:   Distribution Share Sheet in Files for Upload	50
Figure 25:   Company Share Upload File	51
Figure 26:   Screen Shot of Uploaded Market Sheet on MAT (1 of 2)	52
Figure 27:   Screen Shot of Uploaded Market Sheet on MAT (2 of 2)	52
Figure 28:   Screen Shot of Uploaded CSA Sheet on MAT (1 of 2)	53
Figure 29:   Screen Shot of Uploaded CSA Sheet on MAT (2 of 2)	53
Figure 30:   Company Addition on MAT 1	54
Figure 31:   Company Share Authoring on MAT 2	54
Figure 32:   Company Share Authoring on MAT 3	55
Figure 33:   Markets Uploaded on New Medtrics Analysis	55
Figure 34:   Value Sheet in Files for Upload	56
Figure 35:   Volume Sheet in Files for Upload	56
Figure 36:   Average Price Sheet in Files for Upload	57
Figure 37:   Distribution Share Sheet in Files for Upload	57
Figure 38:   Company Share Sheet in Files for Upload	58
Figure 39:   Procedures Sheet in Files for Upload	58
Figure 40:   Installed Base Sheet in Files for Upload	59
Figure 41:   Screen Shot of Uploaded Market Sheet on MAT 1	60
Figure 42:   Screen Shot of Uploaded Market Sheet on MAT 2	60
Figure 43:   Markets Databooks List	62
Figure 44:   Procedure Databooks List	63
Figure 45:   Databook Download from GDARF	63
Figure 46:   Databook Download from GDARF	64
Figure 47:   Databook Download from GDARF	64
Figure 48:   Markets Databook Download from GDARF	65
Figure 49:   Procedure Databooks Download from GDARF	65
Figure 50:   Databooks Upload using CMS	68
Figure 51:   Databooks Upload using CMS	68
Figure 52:   Databooks Upload using CMS	69
Figure 53:   Databooks Upload using CMS	69
Figure 54:   Databooks Upload using CMS	70
Figure 55:   Databooks Upload using CMS	70
Figure 56:   Databooks Upload using CMS	71
Figure 57:   Databooks Production for 2018	71
Figure 58:   Secondary Research	72
Figure 59:   Secondary Research Flow Chart	73
Figure 60:   Primary Research Contact Sheet Snapshot	75
Figure 61:   Response Rate Sheet - Completeness of Questionnaires Consolidated (1/2)	76
Figure 62:   Response Rate Sheet - Completeness of Questionnaires Consolidated (2/2)	77
Figure 63:   Response Rate Sheet - Average Number of Sources by Question per Questionnaire - Consolidated	77
Figure 64:   A&R Devices – Primary Transcript	78
Figure 65:   Snapshot of the Summary Sheet	80
Figure 66:   Snapshot of the Call Log Sheet	80
Figure 67:   Snapshot of Demand Quantitative	81
Figure 68:   Snapshot of Demand Qualitative	81
Figure 69:   Consolidated Model File – Navigation Page Tab	83
Figure 70:   Consolidated Model File – Model Structure Tab	84
Figure 71:   Consolidated Model File – Market Summary Tab	84
Figure 72:   Consolidated Model File – Market Share Tab	85
Figure 73:   Consolidated Model File – Insights Tab	85
Figure 74:   Consolidated Model File – Market Access Tab	86
Figure 75:   Consolidated Model File – Methodology Tab	86
Figure 76:   Consolidated Model File – Definitions Tab	87
Figure 77:   Consolidated Model File – Countries Tabs	87
Figure 78:   Consolidated Model File – About GlobalData Tab	88
Figure 79:   Product and Company Mapping Template	90
Figure 80:   QC Process Market Models	91
Figure 81:   QC Process for Base Market Data	95
Figure 82:   Medical Equipment Markets Project Plan	96
Figure 83:   Medical Equipment team, Weekly Models Tracker	97
Figure 84:   Weekly Databooks Tracker Snapshot 1	98
Figure 85:   Weekly Databooks Tracker Snapshot 2	98
Figure 86:   Communication Tracker	99
Figure 87:   RAG Tracker	100
Figure 88:   Verdict	100

2	About This Document
This document explains the work flow process of GlobalData’s Medical Equipment team database.
2.1	Revision History
Table 1:   Revision History

Revision Date	Version	Owner/ Author	Reviewed by	Summary of Changes
01-Apr-13	1	Bhaskar/Rohit	Vikas Bedi
11-Oct-13	2	Bhaskar/Rohit/Vamsee	Vikas Bedi	The process document has been restructured to be in line with the new process guidelines. Additional sections on ‘Project Planning and Reporting’ and ‘Archiving’ have been added. Methodology and QC sections have been updated and revised according to the new process guidelines.
19-Jun-14	3	Bhaskar/Rohit/Vamsee	Vikas Bedi	The process document has been updated with new research methodology including QC process. We have updated the new file upload process and added databooks production and upload process in the process manual.
09-Dec-14	4	Bhaskar/Rohit/Vamsee	Vikas Bedi	The process document has been updated with new methodology for sources citation.
03-Feb-15	5	Bhaskar/Rohit	Vikas Bedi	The process manual has been updated with new primary research guidelines, QC Guidelines and Common Guidelines.
01-Aug-15	6	Bhaskar/Rohit	Vikas Bedi	The process manual has been updated with content related to addition of markets update process for GDME, training sessions for new joinees and additional QC guidelines.
01-Feb-16	7	Bhaskar/Rohit	Vikas Bedi	The process manual has been updated with content related to new guidelines for models completion, expanded geographic coverage, benchmarking, primary research protocol and new upload process for Base Market Data tab.
01-Aug-16	8	Pooja/Rohit	Vikas Bedi	The process manual has been updated with content related to new guidelines for transcripts updation, geographic coverage for the purpose of primary research between GD (US/UK) and GDRC (India) analysts. The addition of uploading procedure sheets on MAT in Databooks Production section, market model benchmarking in the Benchmarking section and revised model review process.
01-Feb-17	9	Pooja/Rohit	Vikas Bedi	The process manual has been updated with content related to addition of management reporting trackers, new template of Methodology sheet, QC Checklist within the ME Markets team. The updation of ME Market processes in accordance to corporate rebranding.
01-Aug-17	10	Pooja/Kanika/Rohit	Vikas Bedi	The process manual has been updated with the revision in the model building process between GD and GDRC analysts, modification in Methodology sheet and inclusion of Response Rate sheet tracker. The addition of WCM CSA Project in Company Shares Section, PMR Call Status Tracker in Reporting and Communication section and revised model review process.
1-Feb-18	11	Kanika/Bhaskar/Rohit	Vikas Bedi	The process manual has been updated with the revision in the list of markets updated by the GD and GDRC analysts and other changes in the process. New database, New Medtrics Analysis Tool has been added on the platform.
1-Aug-18	12	Kanika/Bhaskar/Rohit	Vikas Bedi	The process manual has been updated with the revision in the list of markets updated by the GD and GDRC analysts and other changes in the process.

Source: GlobalData


2.2	Document Update Process
The process document will be updated on a regular basis with a maximum period between updates of six months. This should involve a review of the processes, and
•	A discussion and consideration of potential process improvements should be incorporated
•	Should be representative of the practice followed
Each new version will have a new date and version number. The revision history section will be updated to reflect the changes. New versions will be circulated to the key stakeholders once the process manual is updated. The process documents including the new versions are stored at the following location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ProjectAdmin\Process Manuals

2.3	Implementation
The process manual is an integral part of the team’s daily work. All team members including new joinees are given the manual and are expected to understand and learn its contents. This saves valuable time of managers in reiterating the basic processes. Managers and QC Leads should help new joiners with all queries they have on the contents of the manual.
Knowledge of the process manual is one of the basic objectives of all of the junior members of the team, while for more senior members contributing to its development and improvement is the primary objective. Training sessions are used to reinforce knowledge of the manual in the team.
All team members should be aware that internal and external process audits occur regularly and include checks that the process manuals are strong, up to date and what is included in the process manuals is being executed in practice.

2.4	Confidentiality
All information in the process manual is confidential and belongs to GD Research Center Private Limited. Commercially sensitive information shall not be used for any other purpose and shall not be published or disclosed wholly or in part to any other party without prior permission in writing from GD Research Center Private Limited and shall be held in safe custody. All trademarks are hereby acknowledged.

3	Introduction
3.1	Database Definition
We used to have two different portals to cater to the needs of our clients. These were
1.	GlobalData Medical Equipment (GDME)
2.	GlobalData Medical Intelligence Centre (GDMEIC)
Medical eTrack was the oldest platform and has been closed.
Based on communication received from senior management, we have integrated both the GDME and GDMEIC portals into a single platform on September 27, 2015, which is referred to as GlobalData Medical (GDM). The URL for GDM portal is as follows:
https://medical.globaldata.com

3.2	Key Principles
•	All team members are responsible for the accuracy of the data they commit to our datasets
•	We work dedicatedly and sincerely to collect the best possible information from reliable sources (reliable sources are defined as the sources that are allowed to be used by the team for updating the database as per GlobalData’s IP policy)
•	We take pride in producing the most complete datasets possible, and meeting the standards of timeliness
•	Our QC is always systematic, honest and constructive so we can continuously learn from our mistakes and improve
•	We always record and store our source information to provide complete traceability of our data
•	Every team member is responsible for making sure they don't breach the intellectual property rights of others
•	We plan and monitor our work to a high professional standard, we take pride in hitting our delivery commitments

3.3	Database Coverage
The following attributes are available under the GDM portal:
1.	Databases – This section includes information related to Products, Clinical Trials, Companies, Countries, Devices, News and Deals.
•	Products – Information related to both marketed and pipeline products are covered under this database.
•	Clinical Trials – This database covers medical devices and drug and device combinations and excludes drug (or medicines) based clinical trials.
•	Companies –This database covers the market and the companies and provide financial, operational and SWOT analysis.
•	Countries -This database covers the overview of the market with respect to various geographies.
•	Devices -This section includes devices by Therapy area and devices by application area.
•	News - The news database provides up to date information and in-depth news covering all the companies featuring in the database.
•	Deals - The deals database is a collection of mergers and acquisitions (M&A), equity offerings, debt offerings, partnerships, private equity (PE) and venture finance (VF) transactions, licensing agreements, asset finance and asset purchase transactions globally.
2.	Market Data – This section includes Base Market Data, Procedures, Medtrics Analysis Tool, Market Models and Market Data Statistics.
•	Base Market Data – This database provides market size and company (market) share information for the various device types for a country selected. It uses a 4 level taxonomy for providing the information on the 16 markets across 39 countries. Parameters covered are as follows:
	Market size in terms of value (with 5 currency options)
	Market size in terms of volume
	Average selling price (with 5 currency options), available for only at the lower most levels
	Distribution share
	Company (Market) share
•	Procedures – This database provides data on key surgical and diagnostic procedures tracked by ICD-9 codes. The team has stopped updating the Procedure Database from 2013 onwards.
•	Medtrics Analysis Tool – This tool uses multi-level taxonomy depending on the market. Taxonomy levels include Market, Category, Segment, Sub-segment 1, Sub-segment 2 and Sub-segment 3. Parameters covered are
	Market size in terms of value
	Market size in terms of volume
	Installed base (for capital equipment)
	Procedures data derived from models
	Average Selling Price (ASP)
	Distribution share
	Company (Market) share
•	New Medtrics Analysis Tool – This tool is an improved version of Medtrics Analysis Tool. Similar to Medtrics Analysis Tool, this tool uses multi-level taxonomy depending on the market. Taxonomy levels include Market, Category, Segment, Sub-segment 1, Sub-segment 2 and Sub-segment 3. Parameters covered are
	Market size in terms of value
	Market size in terms of volume
	Average Selling Price (ASP)
	Installed base (for capital equipment)
	Procedures data derived from models
	Distribution share
	Company (Market) share
•	Market Models – This database lists the market models for each of the medical equipment markets completed using modeling based approach.
•	Market Data Statistics – This database lists the base year and the forecast range for the 16 markets which are present on the platform.
3.	Market Analysis - This database includes MediPoint Reports, Country Focus Reports, Industry Analysis and Expert Insights.
•	Reports – This database includes MediPoint Reports, Country Focus Reports, Industry Analysis and Expert Insights.
•	MediPoint Reports – These are in-depth analytical reports providing data, insights and commentary on the medical devices markets. The MediPoint reports provide strategic insights on competitive landscape, market trends, dynamics and barriers for the global medical devices markets.
•	Country Focus Reports - This section provides report for 40 plus countries. These reports include information and analysis on the healthcare, regulatory and reimbursement landscape of a country. It identifies the key trends in the healthcare market and provides insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure.
•	Industry Analysis - This section provides list of both devices and procedure databooks produced by the ME team. Devices databooks are reports providing market related data along with information on pipeline products, news and deals. Note that information on pipeline products, news and deals may not be available in all the Devices databooks. Procedure databooks cover only the procedures data derived from market models and no information related to pipeline products, news and deals is available in these reports.
•	Expert Insights – These reports provide an analyst's view of the latest trends and events in the medical devices industry. These reports provide insights and commentaries on recent mergers and acquisitions, product approvals and industry developments, Expert Insights are substantiated by quantitative data and forecasts based on our own proprietary research.
       Detailed information related for each of the above attributes is discussed under chapter 6.
        Currently, we have coverage for 16 markets on Base Market Data tab. These are classified based on therapeutic area and by application. On Medtrics Analysis Tool, we have data for 6 markets - Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, General Surgery, Wound Care Management, and In Vitro Diagnostics (Immunochemistry category only).

Figure 1:   GlobalData Medical - Markets Coverage


 Source: GlobalData
3.4	Geographic Coverage
Geographic coverage for markets under New Medtrics Analysis Tool was limited to 15 countries till 2015. Beginning with Diagnostic Imaging and General Surgery market modeling 2016 update, the geographic coverage was increased to 39 countries across 5 regions. These 39 countries are divided into Tier 1 (15), Tier II (7), Tier III (8) and Tier IV (9) countries. On Base Market Data (Top-down methodology) also, the data is available for 39 countries.
The list of 39 countries covered is placed below:
Figure 2:   GlobalData Medical - Geographic Coverage


 Source: GlobalData

3.5	Timelines Objectives
We currently have 2 separate teams working on markets update (Market Models and Base Market Data (BMD)) and SKU.
As a part of the project plan, we started building market models from Feb 2013. We have completed market models for the 6 markets namely Orthopedic Devices, Diagnostic Imaging, Cardiovascular Devices, General Surgery, Wound Care Management and In Vitro Diagnostics. Data coming from models for these 6 markets is available on the Medtrics Analysis Tool. We have updated markets based on market modeling methodology from 2015 onwards. This includes Anesthesia & Respiratory Devices (2018), Dental Devices (2018), Orthopedic Devices (2017), Cardiovascular Devices (2017), Wound Care Management (2017), In-Vitro Diagnostics (2017) and General Surgery (2017).
Analysts allocated on Market Models typically work on 2 separate markets at any point of time. GDRC team collects data for models from demand side participants. Based on instructions from GD team, GDRC analysts may also conduct limited supply side interviews. Based on the communication with the Global Product Head, Mr. Tyler Fletcher, the GD analysts (Western Analysts) will also interview supply side participants to finalize and close models including Company Share Analysis (CSA).
In 2017-18, GDRC team has carried out primary and secondary research on Hospital Supplies, Healthcare IT, ENT Devices, Neurology Devices, Drug Delivery Devices, Anesthesia and Respiratory Devices, Nephrology & Urology Devices and In-Vitro Diagnostic markets using BMD approach. In Anesthesia and Respiratory Devices market, the GDRC team carried out base year roll over for all categories except Respiratory Measurement Devices category for which primary and secondary research was conducted.
The GDRC Medical team production plan for 2018 is communicated by the Global Product Head, Mr. Tyler Fletcher. In the 2018-2019 proposed production plan, Market Modeling and Top-down Methodology (BMD update approach) will be used to update the 8 markets each.
Figure 3:   Production Plan 2018-19


 Source: GlobalData
Based on the discussion with the Global Product Head, Tyler Fletcher, GD and GDRC teams will co-ordinate with each other in model building process. Following process has been adopted for Anesthesia & Respiratory and Dental market models based on instructions received from GD team:
•	Models creation - GDRC team created models for Anesthesia & Respiratory Devices market through secondary, demand and supply side research. GD team then reviewed these models and based on their secondary research and analysis, finalized the models. Note that GD team changed data inputs in the final models based on their research, analysis and understanding of the market. For Dental market, GDRC team has conducted secondary and demand side research and shared the findings with GD team through data inputs in the models where applicable. GD team then conducted their own secondary research and supply side calls to complete and finalize the Dental models. GD team exclusively developed models for Neurology Devices market.
•	CSA work - Demand and supply side calls to collect company share information were done for Anesthesia & Respiratory Devices market while demand side calls were done for Dental Devices market by GDRC team. Secondary research was carried out by GDRC team and the data gathered was shared with the GD team. GD team conducted in-depth primary calls and secondary research for arriving at the final CSA in the models.
•	QC - First round of QC is done by GDRC senior analysts and managers. Then these models are shared with GD team. The GD analysts conduct their own in-depth primary & secondary research to QC and finalize the models. During the models finalization process, the GD analysts are at liberty to change the data in the models and hold the final version control. This may result in data differing in the final models compared to the models initially shared by the GDRC team and/or data available in the transcripts shared with GD team. Note that GD team research work including secondary and primary research is not available with the GDRC team.
•	Publication - GD team sends the final models to GDRC team for upload. GDRC team conducts sanity checks and uploads the final models on the platform. Sanity checks include checking negative and zero values, linking of cells, formula checks, formatting issues, spell checks and checking whether all the tabs are active and data (value, volume, ASP, company share and distribution share) is available for 39 countries.
Moving forward, as communicated by Global Product Head, Mr. Tyler Fletcher, the market models team will be split along the therapy area lines such as cardiovascular, orthopedic, general surgery, in vitro diagnostics and wound care management. Analysts and senior analysts will be working on tasks allocated by the lead GD analyst of therapy areas mentioned above. Analysts and senior analysts will be working directly with the lead GD analyst.

Figure 4:   Production Process Overview


 Source: GlobalData
During 2017 In Vitro Diagnostics update, Clinical Chemistry, Hematology and Infectious Diagnostics categories were updated using market modelling approach and BMD. Immuno Chemistry category was updated using market modelling approach only. The rest of three categories (Genetic Testing, Histology & Cytology and Microbiology Culture) were updated using BMD approach only. Both GD and GDRC teams have conducted research on In Vitro Diagnostics market. The research was carried by both the teams on the basis of taxonomy distribution. GDRC team was completely responsible for updating nodes selected for BMD update. However, research work for market models was done by both GD and GDRC team. GD team was responsible for finalization of models. GDRC team has consolidated the data from market models and BMD approach and updated the data on the Medical platform.
However, it remains to be noted that timelines are subject to change based on the resourcing scenario as well as diversion of resources to pick up any other allocated or priority tasks.
When it comes to the timelines for the individual market models, an average of 6 days is considered for the market models for the 15 Tier I countries and an average of 4 days for Tier II/III countries. However, the production plan for individual models may vary from market to market based on the following factors:
1.	Complexity of the model flow
2.	Length and depth of the model flow as defined by the number of data parameters to be covered through primary and secondary research
3.	Market models for non-English speaking countries. Countries such as Russia, Brazil, Norway, Sweden, and Israel among others present a bigger challenge than other countries when it comes to using English as a language for communication. GDRC Medical team is supported by Language Experts for China and Japan.
4.	Holiday season in various continents/countries. For example, primary research is typically impacted in the month of December each year on account of Christmas/New Year while issues crop up with China around the time of their Lunar Year celebrations each year.
5.	Unforeseen resourcing issues such as attrition, delay in approvals for hiring like the ‘Hiring Freeze’ witnessed in Dec 2015, diversion of available resources for other tasks and so on.
4	People and Roles
4.1	GDRC Medical Markets Team Organization Chart
Figure 5:   GDRC Medical Team, Organization Chart


 Source: GlobalData

Director
The Director is responsible for administrative handling of the entire team, resource planning, production planning, new product initiatives, QC processes and ensures all the production targets are met in line with the plans.
The Director is responsible for ensuring quality, training initiatives within the team. The Director also liaises with the Senior Management in India and the US/UK/Canada teams to ensure efficient production planning, resource mapping, handling of client queries and any custom research projects. The Director also assumes the overall responsibility for mentoring and developing the team, performance mapping and annual appraisals.
Practice Head (PH) and Managers
Managers typically help analysts develop models from scratch and also ensure that models are complete in all aspects. PH/PM after reviewing the models sends them to the GD team for review. They are also responsible for planning, meeting production targets, communication with management team and handling client queries and concerns. Managers also interact with the GD team on models review and ensure the models are signed off. Managers are responsible for the QC and content of unique models for the market in process.
Managers are also responsible for managing the teams’ development and morale and handling personnel issues as they arise, including leading the appraisal process for the team and ensuring compliance with company processes. Managers liaise with the Software team to manage the development of the tool and other issues related to software.
Senior Analysts
Senior Analysts (QC Leads) review the model flow, sources, data points and formatting of the model. The QC Leads also ensure the timely delivery of models. They are also responsible for handling and resolving the queries raised by the GD team.
Language Experts
Language experts in the Medical Equipment team are responsible for helping analysts with primary and secondary research for China and Japan markets.



Analysts/Associate Analysts
Analysts/Associate Analysts associated with Market Models team are responsible for developing and delivering the models. The models are checked by them thoroughly before it reaches the QC Leads. The Associate Analysts and Analysts will be referred to as the researching analyst in this document. The primary research will be carried out by all the researching analysts in the team. Language expert help is available for China and Japan in case researching analysts have language constraints in developing models for these countries.
Analysts/Associate Analysts associated with Base Market Data team are responsible for gathering the data for the markets update only through primary and secondary research.
Databooks team (Researcher/Senior Researcher/Associate Analysts/Analysts)
Researcher/Senior Researcher/Associate Analysts/Analysts working with databooks team are responsible for producing market and procedure related reports. The databooks team typically starts producing reports as soon as a particular market is completed. Following are the types of market and procedure related reports produced by the databooks team:
•	By Market by Country
•	By Category by Country
•	By Category by Region (This includes BRIC reports)

4.2	Key Responsibilities – GD and GDRC teams
Medical team comprises GD and GDRC teams.
1.	GD team – This team includes US, UK and Canada analysts
2.	GDRC team – This team includes analysts based out of India. GDRC team is further divided into market models, BMD and SKU teams.

Following are the roles and responsibilities:

Market Models Team
1.	Creation of taxonomy document (performed throughout the year)
•	Done by GD and GDRC Medical Markets team - GD is leader, working with Sales
2.	Creation of GDRC Medical Markets calling document (should take 1-2 weeks, while working on other production)
•	Document that is used to collect primary data – GDRC and GD Medical Market teams
3.	Secondary research
•	Done by GDRC and GD Medical Market teams
4.	Demand side primary research
•	Done by GDRC Medical Markets team. In 2017, for the Dental market models, GD team decided to conduct demand side primary research through email campaigns from their end. During this time, the GDRC analysts focused on secondary research. However, due to unfavorable outcomes, starting in Jan, 2018, GDRC team was given the task of completing demand side primary research. Based on this, GDRC team has completed demand side research.
5.	Supply side calls
•	It varies from market to market. For instance, GDRC team conducted supply side calls for Anesthesia & Respiratory Devices market models while GD team conducted supply side calls for Dental market models.
6.	Models creation
•	It varies from market to market. For instance, GDRC team created models for Anesthesia & Respiratory Devices market through secondary, demand and supply side research. GD team then reviewed these models and based on their secondary research and analysis, finalized the models. Note that GD team changed data inputs in the final models based on their research, analysis and understanding of the market. For Dental market, GDRC team has conducted secondary and demand side research and shared the findings with GD team through data inputs in the models where applicable. GD team then conducted their own secondary research and supply side calls to complete and finalize the Dental models. GD team exclusively developed models for Neurology Devices market.
7.	CSA work
•	Varies from market to market. Demand and supply side calls to collect company share information were done for Anesthesia & Respiratory Devices market while demand side calls were done for Dental Devices market by GDRC team. Secondary research was carried out by GDRC team and the data gathered was shared with the GD team. GD team conducted in-depth primary calls and secondary research for arriving at the final CSA in the models.
8.	QC
•	Once primary & secondary research and data inputs are completed for the models by the GDRC analysts, first round of QC is done by GDRC senior analysts and managers. Then these models are shared with GD team. The GD analysts conduct their own in-depth primary & secondary research to QC and finalize the models. During the models finalization process, the GD analysts are at liberty to change the data in the models and hold the final version control. This may result in data differing in the final models compared to the models initially shared by the GDRC team and/or data available in the transcripts shared with GD team. Note that GD team research work including secondary and primary research is not available with the GDRC team.
9.	Models Closing and Signing Off
•	Done by GD team.
10.	Publication
•	The output of this will be data that will be used for ALL products – databooks, MediPoint reports, etc. Also, we aim to have the same granularity in models across all geographies – but recognize that sometimes this will not be possible. For example it may be impossible to go down to the most granular level in all Tier III and benchmarking countries. In those markets, we may publish data up to a level where we are confident on the numbers. Also, we might only publish company stack ranking in benchmarking countries (based on proxy) in case we are unable to gather market share.
•	Once the data is published on the platform, GDRC analysts QC the data.
BMD Team
1.	Creation of taxonomy document (performed throughout the year)
•	Done by GD and GDRC teams - GD is leader, working with Sales
2.	Secondary and Supply side primary research
•	Done by GDRC team
3.	CSA work
•	Done by GDRC team
4.	Data Collection, Benchmarking and Finalization
•	GDRC team finalizes the data sets based on primary and secondary research. Benchmarking is done in absence of data for particular market node and country. The final data sets are shared with GD team for review and approval
5.	Publication
•	Once the data sets are approved by GD team, they are uploaded on to the medical platform by the GDRC team.
•	Once the data is published on the platform, GDRC analysts QC the data.

4.3	Training Sessions for New Joinees
4.3.1	Markets team
Training sessions are conducted for all new joinees in the ME team. The training sessions help new joinees to understand the processes and protocols followed by ME team.
The training and induction procedure in ME team is as follows:
•	Training and induction schedule is sent to all the QC Leads and Managers involved. Below is the snapshot of the sample induction schedule:
Table 2:   Training Sessions for New Joinees

Day	Module	Facilitator	Date	Time
Day 1	Introduction to GlobalData Medical	PH/PM	DD/MM/YY	XX.XX am/pm
	Primary and Secondary Research	PM/SA		XX.XX am/pm
Day 2	Market Building Process	PM/SA	DD/MM/YY	XX.XX am/pm
	Modeling and Forecasting	PM/SA		XX.XX am/pm
Day 3	Issue Encountered during Modeling and Forecasting	PM/SA	DD/MM/YY	XX.XX am/pm
	QC Process	PM/SA		XX.XX am/pm

Source: GlobalData
•	Process manual is shared with the new joinees to give them firsthand information on the process followed by the Medical team
•	The new joinees are allotted buddies to help them familiarize with the Medical team process and also to lend them a helping hand during their initial months with the medical team.
•	‘Introduction to GlobalData Medical’ session helps new joinees in gaining an understanding about the kind of work the medical team does at GlobalData and introduction to the databases maintained by the Medical team.
•	‘Primary and Secondary Research’ session covers aspects related to data collection by using these approaches. Secondary research session is aimed to help new joinees understand the way to research sources available in secondary domain by using search engines such as Google. In this session, we also discuss the kind of secondary sources to be used and not to be used due to copyright concerns. Primary research session is aimed for training new joinees on primary calls done by the medical team.  This session focuses on developing contact sheets, contacting and interviewing primary participants and recording transcripts.
•	‘Market Building Process’ session covers all the R&A processes relating to the medical equipment market databases. The objective of this session is to provide the brief overview about the market research and the various steps involved in the collection of data.
•	‘Modeling and Forecasting’ session helps new joinees gain an understanding of the modeling process used by the medical team to build the medical equipment markets. Both the epidemiology and capital equipment modeling and forecasting processes are discussed during this training session.
•	‘Issues Encountered during Modeling and Forecasting’ session focuses on the issues faced by the Analysts during the market updates along with possible solutions on how to tackle them.
•	‘QC Process’ training session discusses various aspects of the QC done at both the Analyst and QC Lead level. This training session covers aspects related to model formatting and naming structure, guidelines for model parameters sourcing and QC checklists.
Snapshot of the training and induction schedule are sent to the QC Leads and Managers for new joinees training is placed below:
Figure 6:   Training Schedule Snapshot for New Joinees


Source: GlobalData

Training documents are available in the following location on shared drive:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Training\Training Material

4.3.2	Databooks team
New Joinees in the databooks team undergo rigorous training session before they start with the actual production of the databooks. Databooks team new joinees are trained on the following aspects:
•	Different types of databooks produced by the team
•	Downloading both the markets and procedures databooks
•	Modifications and additions to the databooks sections such as report code, publication month, market segmentation, market definitions and appendix
•	Checking data on the downloaded databook with the models and databases
•	Filling the databooks tracker
•	Placement of databooks on the server folders


5	Research Methodology
5.1	Market Models
5.1.1	Methodology Overview
The objective of this chapter is to provide clear understanding of various processes taken by the Market modeling team for updating the markets on New Medtrics Analysis Tool. This chapter explains in detail the key concepts and techniques the market models team uses for modeling, and is designed for internal use for creating the New Medtrics Analysis Tool. There are three elements to the development and maintenance of the New Medtrics Analysis Tool –
•	Database origination
•	Annual data review
•	Client and user feedback
5.1.2	Database Origination
The market models team works on creating models for medical device markets. This will be done through secondary and primary research, combined with data modeling and forecasting using in-depth analysis.
The first step in the origination of data sets for the database involves taxonomy finalization. The next step is extensive secondary research. Analysts are assigned medical equipment market models in order to ensure that they gain a high level of expertise in the areas they are working in. They investigate all relevant data sources for the market model for each country included in the market database. The data gathered from the secondary research is then quality checked and documented.
Where secondary information is not available or insufficient or unreliable, market models are developed through primary data and gain insights into the market models and also help in forecasting. The modeled data is quality checked and revised wherever necessary. Primary research interviews are conducted with industry experts and KOLs to validate the data gathered from secondary research.
The inputs gathered through secondary and primary research are integrated into the models. The models are then thoroughly checked by the QC team in India office and then sent to the GD team for review.

Figure 7:   Medical Equipment Market Models, Research Methodology


 Source: GlobalData

5.1.2.1	Taxonomy
The first step in the collection of data sets for the Market Models involves updation of taxonomy based on secondary and primary research as well as feedback from industry experts.
At the start of each market, the existing taxonomy is thoroughly reviewed by the Medical team. GDRC team conducts thorough secondary research to update the taxonomy by adding new segments or realigning existing segments where needed. Nomenclature is also updated based on latest industry standards. Additional segments are also validated through primary research wherever required.
The analysts also refer to the feedback received from the GD analysts/clients and conduct feasibility study to include new nodes to the taxonomy. Based on feasibility studies conducted, the taxonomy is designed by the Medical team and is shared with GD team and with the clients. Examples of new nodes addition based on client feedback are as follows:
•	Based on feedback received from Sanofi, Viscosupplementation market is further segmented by regimen (1, 3 and 5 injections) during the Orthopedic Devices market update cycle in 2015.
•	Orthopedic Prosthetics market was originally segmented into Lower and Upper Extremity Prosthetics. Based on Ossur feedback, Lower Extremity Prosthetics were segmented into Microprocessor Foot Prosthetics, Mechanical and Microprocessor Knee Prosthetics and Hip Prosthetics. Similarly we have further segmented Upper Extremity Prosthetics into Mechanical and Myoelectric Hand Prosthetics, Body-powered and Externally-powered Elbow Prosthetics and Shoulder Prosthetics. The additional granularity was added to the Orthopedic Prosthetics model during the Orthopedic Devices market update cycle in 2015.
•	The Cardiovascular Devices taxonomy was shared with iVascular SL. Based on their feedback, Bioabsorbable Coronary Stents was added as a segment within the Coronary Stents model in 2015 Cardiovascular Devices market update cycle.
•	Based on the feedback provided by Teleflex, we have included Chest Drainage Catheters and Units and Tip Location Devices in Cardiovascular Devices market update cycle for 2015.
•	Based on internal feedback given by GD team, we have added Contrast Agents category and model to the Diagnostic Imaging market.
•	Based on the internal feedback given by GD team, Uterine Fibroid Ablation Devices, a new segment and model was added to the General Surgery Market.
•	Based on the internal feedback given by GD team, we have added new nodes - Intubation Accessories, Peak Flow Meter to the A&R market.
•	Based on the internal feedback given by GD team, we have added new nodes – Dental Membranes and Dental Bone Graft Biomaterials to the Dental market.

The updated taxonomies are shared with GD team for final approval. The final taxonomies are placed in a folder ‘Taxonomy and Definitions’ for each of the markets.

5.1.2.2	Modeling
The market database is built through modeling for various market categories, segments and sub-segments (n-levels). Models are created using secondary and primary research with industry experts and demand side participants. Historic and forecast data are also arrived using models.



Figure 8:   Model Flow


 Source: GlobalData
Models provide a clear, robust and easy to understand methodology to support market figures and forecasts. Epidemiology and capital equipment based models will be developed depending on the market category, segment and sub-segment(s). Models will have data points such as disease prevalence, diagnosis rate, treatment rate, surgical rate, product and patient segmentations, etc. which provide more insights into the device usage pattern. Model flows are prepared by the analysts in the GDRC team with secondary research and primary interviews. Model flows once developed by the GDRC team are shared with the GD team for review. Analysts start gathering data through primary and secondary research once the model flow is approved by the GD team. The objective of secondary and primary research is to fill in the data points in the model. All the data points needed for the model must come from either secondary sources or primary interviews. Modeling sheets are prepared once secondary and primary research is completed.
5.1.2.3	Quality Check
We follow a robust 3 level QC process to ensure the data is accurate in all the aspects. QC process is explained in detail in the “Sources of Information” chapter (Section 8).

5.2	Base Market Data (Top-down Methodology)
5.2.1	Methodology Overview
The objective of this chapter is to provide understanding of various processes adopted by the markets database team for updating the markets on Base Market Data tab. This chapter explains in detail the key concepts and techniques the markets database team uses for gathering data for the markets. There are three key elements in the development and maintenance of the Base Market Data tab:
•	Database origination
•	Data review
•	Client and user feedback
5.2.2	Database Origination
The medical equipment markets database team will work on gathering data at the category, segment and sub-segment levels for all medical device markets listed on Base Market Data tab. This data gathering process is accomplished through secondary and primary research.
The first step in the origination of data sets for the Base Market Data tab involves creation of taxonomy. The next step is extensive secondary research. One country is allocated to one analyst and the analyst is responsible for gathering data for all the nodes in the market. Analysts investigate all relevant secondary sources for the market for the allotted country. The data gathered from the secondary research is then quality checked and documented.
Where secondary information is not available or insufficient or unreliable, data is gathered through primary research. Also for nodes where secondary sources are available, primary interviews are conducted to cross validate the secondary data. Note that it may not be possible to gather data for all the market nodes using primary and secondary research. In cases where we could not get data through primary and secondary research, we benchmark the data for the purpose of market estimation.
The data gathered from secondary and primary research and through benchmarking is fed into the upload sheets. This data is then thoroughly checked by the QC Lead in GDRC office and then sent to the GD team for review. This process is subject to change based on the decision taken by GD team.
5.2.2.1	Taxonomy
The first step in the collection of data sets for the Base Market Data tab involves updation of taxonomy based on secondary and primary research. At the start of each market update, the existing taxonomy is thoroughly reviewed by the Medical team.  GDRC analysts conduct thorough secondary research to update the taxonomy by adding new nodes or realigning existing nodes. These taxonomies were reviewed and approved by Andrew from GD team.
The analysts also refer to the feedback received from the GD analysts/clients and conduct feasibility study to include new nodes to the taxonomy. Based on the feasibility studies conducted, the taxonomy is shared with the GD team.  We conduct receive request from the clients to add or modify nodes. Few such examples are:
•	Based on feedback received from Sanofi, Viscosupplementation market is further segmented by regimen (1, 3 and 5 injections) during the Orthopedic Devices market update cycle in 2015.
•	Orthopedic Prosthetics market was originally segmented into Lower and Upper Extremity Prosthetics. Based on Ossur and Ottobock’s recommendations, we have further segmented the Lower Extremity Prosthetics into Mechanical and Microprocessor Foot Prosthetics, Mechanical and Microprocessor Knee Prosthetics and Hip Prosthetics. Similarly we have further segmented Upper Extremity Prosthetics into Mechanical and Myoelectric Hand Prosthetics, Body-powered and Externally-powered Elbow Prosthetics and Shoulder Prosthetics. The additional granularity was added to the Orthopedic Prosthetics model during the Orthopedic Devices market update cycle in 2015.
•	The Cardiovascular Devices taxonomy was shared with iVascular SL. Based on their feedback, Bioabsorbable Coronary Stents was added as a segment within the Coronary Stents model in 2015 Cardiovascular Devices market update cycle.
•	Based on the feedback provided by Teleflex, we have included Chest Drainage Catheters and Units and Tip Location Devices in Cardiovascular Devices market update cycle for 2015.
•	Based on internal feedback given by GD team, we have added Contrast Agents category and model to the Diagnostic Imaging market.
•	Based on the internal feedback given by GD team, Uterine Fibroid Ablation Devices, a new segment and model was added to the General Surgery Market update carried out in 2016-17.
•	Based on the internal feedback given by GD team, we have added new nodes - Intubation Accessories, and Peak Flow Meter to the A&R market update carried out in 2017-18.
•	Based on the internal feedback given by GD team, we have added new nodes – Dental Membranes and Dental Bone Graft Biomaterials to the Dental market update carried out in 2017-18.
•	In the Healthcare IT 2018 market update, based on internal feedback, we have added new segments: Ambulatory Blood Pressure Monitors under the Blood Pressure Monitors category, Vendor Neutral Archive (VNA) under Medical Imaging Information Systems category and Digital Pathology Systems under Clinical IT Systems category.
•	In the Hospital Supplies 2018 market update, based on internal feedback, we have added new category Hospital Beds with Electric Beds and Manual Beds as segments. Nasal Feeding Tubes and Gastric Feeding Tubes sub-segments have been added under Feeding Tubes segment. ‘Others Chemical Sterilizers’ sub-segment has been added under Chemical Sterilizers segment.
Note that taxonomy differences exist between Base Market Data (Top-down methodology) and Medtrics Analysis Tool for the same market. For Base Market Data (Top-down methodology), we follow a 4 level taxonomy (market, category, segment and sub-segment) whereas on Medtrics Analysis Tool, we have more than 4 taxonomy levels. This includes additional sub-segments.  Markets with taxonomy differences include Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, General Surgery, Wound Care Management, Dental Devices and In Vitro Diagnostics.
5.2.3	Quality Check
We follow a stringent QC process to ensure data quality is maintained. QC process is explained in detail in the “Sources of Information” chapter (Section 8).

5.3	Data Collection Process
Data collection process for the update of Base Market Data is based on Top-down Methodology and involves extensive secondary research and primary interviews primarily with supply side stakeholders. The secondary research information is supplemented with data and information collected from supply-side interviews. We also conduct extensive primary interviews to collate and analyze the revenue information of companies (especially for private companies since revenue information for most of these companies is not available in public domain).
5.3.1	 Secondary Research
The research process involves conducting exhaustive secondary research on internal and external sources being carried out to source quantitative information related to the market. First step in secondary research involves preparing the company and product mapping for the market nodes. The next step involves gathering data and information available in public domain for the market nodes. The secondary research sources that are typically referred to include, but are not limited to:
•	Company websites, financial reports, broker reports, investor presentations and SEC filings;
•	Industry trade journals, scientific journals and other technical literature;
•	Internal and external proprietary databases;
•	Relevant patent and regulatory databases;
•	National government documents and statistical databases;
•	Procedure registries; and
•	News articles, press releases and web-casts specific to the companies operating in the market.
5.3.2	 Primary Research
Primary research typically involves e-mail interactions and telephonic interviews with supply side stakeholders primarily. Demand side primary research is rarely used for updating Base Market Data. Primary interviews help in validating the data and information and secondary sources and also gathering data for market nodes where secondary sources are not available. The participants who typically take part in such a process include, but are not limited to:
•	Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers;
•	Outside experts: Investment Bankers, Valuation Experts, Research Analysts specializing in specific medical equipment markets.

5.4	Benchmarking
Benchmarking methodology sheet was prepared by Andrew. The GDRC team and Andrew had multiple discussions on benchmarking methodology sheets. We have started using this finalized benchmarking methodology sheet from Hospital Supplies market update carried out in 2015-16. This sheet is placed at following location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Benchmarking Sheet
Filename: Benchmarking Methodology Sheet - Final
For the purpose of benchmarking market value, average prices, company shares and distribution shares, we have used different parameters to calculate ranks. Also, we have created two separate matrices to select different country options in case node(s) needs to be benchmarked. The parameters are as follows:
5.4.1	Market Value Benchmarking:
The parameters for market value benchmarking sheet are as follows:
•	Total Population
•	GDP (USD Constant)
•	GDP per Capita
•	GDP as % of Healthcare Expenditure
•	Total Expenditure on Health
•	Real Expenditure: Country and Regional Shares, Health
•	Health Expenditure, Public (% of Total Health Expenditure)
•	General Government Expenditure on Health
•	Health Expenditure, Private (% of Total Health Expenditure)
•	Private Expenditure on Health
The weightage is given to different parameters in order to calculate ranking of different countries. Weightage considered for the purpose of calculation are as follows:
•	Real Expenditures: Country and Regional Shares, Health - 38%
•	General Government Expenditure on Health - 18%
•	Private Expenditure on Health - 44%
5.4.2	Country Selection for Market Value Benchmarking:
Country selection for market value benchmarking takes into account the common borders of the country, proximity, membership of trade blocs and weighted average. The options provided for each country is primarily based on geography and also the ranking order defined by the weighted average obtained by calculating the percentages given to the selected parameters.
There are five country options provided for all the 39 countries for benchmarking except for South Korea and New Zealand which have only 4 options. Option 1-5 indicates preference, with 1 being the most preferred. Tier I, II and III countries are benchmarked against the most preferred option having the data for the node to be benchmarked and never to use already benchmarked data for benchmarking. Tier IV countries require complete benchmarking.
Following table provides the list of countries to be benchmarked with benchmarking country options for market value, distribution share and company share:
Table 3:   Market Value and Distribution Share - Country Options Matrix

S.No	Country	Tier	Option 1	Option 2	Option 3	Option 4	Option 5
1	Australia	Tier I	South Korea	Canada	United States	Spain	Italy
2	Brazil	Tier I	Mexico	Spain	South Korea	Canada	Italy
3	Canada	Tier I	United States	United Kingdom	Italy	Spain	France
4	China	Tier I	Japan	South Korea	India	Australia	United States
5	France	Tier I	Germany	Italy	Spain	United Kingdom	United States
6	Germany	Tier I	France	Italy	Spain	United Kingdom	United States
7	India	Tier I	Australia	South Korea	China	Japan	Russia
8	Italy	Tier I	Spain	France	Germany	United Kingdom	Canada
9	Japan	Tier I	China	South Korea	Australia	United States	Germany
10	Mexico	Tier I	United States	Canada	Brazil	Spain	Italy
11	Russia	Tier I	Poland	United Kingdom	Spain	Italy	Germany
12	South Korea	Tier I	China	Japan	Canada	United States
13	Spain	Tier I	Italy	France	Germany	United Kingdom	Brazil
14	United Kingdom	Tier I	France	Germany	Italy	Spain	Canada
15	United States	Tier I	Canada	Germany	France	United Kingdom	Italy
16	Denmark	Tier II	Sweden	United Kingdom	Netherlands	France	Germany
17	Ireland	Tier II	Austria	Belgium	Netherlands	Spain	United Kingdom
18	Netherlands	Tier II	France	Germany	Spain	Italy	United Kingdom
19	New Zealand	Tier II	Australia	Taiwan	South Korea	United Kingdom
20	South Africa	Tier II	Taiwan	India	Australia	South Korea	China
21	Sweden	Tier II	Switzerland	United Kingdom	Belgium	Netherlands	Germany
22	Switzerland	Tier II	Sweden	United Kingdom	Netherlands	France	Germany
23	Austria	Tier III	Belgium	Netherlands	Italy	Spain	Germany
24	Belgium	Tier III	Netherlands	Spain	Italy	France	Germany
25	Finland	Tier III	Austria	Belgium	Netherlands	France	Germany
26	Israel	Tier III	Ireland	Spain	Italy	France	Germany
27	Norway	Tier III	Denmark	Sweden	United Kingdom	France	Germany
28	Poland	Tier III	Sweden	United Kingdom	Italy	France	Germany
29	Portugal	Tier III	Ireland	Austria	Spain	Italy	France
30	Taiwan	Tier III	India	South Korea	Australia	China	Japan
31	Czech Republic	Tier IV	Ireland	Austria	Spain	France	Italy
32	Turkey	Tier IV	Russia	Poland	United Kingdom	Austria	Germany
33	Saudi Arabia	Tier IV	South Africa	Taiwan	Switzerland	United Kingdom	United States
34	Greece	Tier IV	Ireland	Austria	Spain	Italy	France
35	Argentina	Tier IV	Brazil	Mexico	Poland	Russia	South Africa
36	Egypt	Tier IV	South Africa	Russia	Poland	Spain	Italy
37	United Arab Emirates	Tier IV	South Africa	Taiwan	Switzerland	United Kingdom	United States
38	Hungary	Tier IV	Ireland	Austria	Spain	Italy	France
39	Chile	Tier IV	Brazil	Mexico	South Africa	Canada	United States

Source: GlobalData



Market Value Benchmarking Process:
The country for which market value data is missing at any node level is selected for benchmarking. Then the country to be used as a benchmark is selected from the market value matrix table displayed above based on data availability. Following are the scenarios for market value benchmarking:
1.	Market value is missing for all the nodes/Tier IV countries benchmarking
2.	Market value is missing for a complete category
3.	Market value is missing for a segment
4.	Market value is missing for a sub-segment
Market value is missing for all the nodes/Tier IV countries benchmarking – In case we have no data available for any of the category, segment and sub-segment. Firstly, a percentage is calculated by considering the weighted average of a country to be benchmarked with the country used as a benchmark. This percentage is then applied on the overall market value of the country used as a benchmark. Benchmarking example for overall market value is placed below:

Figure 9:   Benchmarking for Overall Market Value


 Source: GlobalData

In the above example, there was no data for Turkey since this is a Tier IV country and requires complete benchmarking. Overall market data for Turkey was calculated by applying the percentage (43%) taken from the market value benchmarking sheet on overall market level data of Russia which was used as a benchmark.

Market value is missing for a complete category – In case we have no data available for a complete category. The percentage calculated by considering the weighted average of a country to be benchmarked with the country used as a benchmark is applied on the overall category value of the country used as a benchmark. Benchmarking example for category market value is placed below:


Figure 10:   Benchmarking for Category Market Value


 Source: GlobalData
In the above example, the data for an entire category (Sterilization Equipment) was missing for Sweden. The category level data was calculated by using the percentage (11.2%) derived from the market value benchmarking sheet of Germany which in this case was used as a benchmark. Once the category level data was calculated, the percentage breakup of segments from country to be used as benchmark was applied on the country with missing segments. Similarly, sub-segments are calculated.
Market value is missing for a complete segment - In case we have no data available for a segment. The segment level data is calculated by using the percentage breakup of a segment from country to be used as a benchmark and this will be used to calculate segments of a country with missing data. Benchmarking example for segment level market value is placed below:

Figure 11:   Benchmarking for Segment Market Value


 Source: GlobalData
In the above example, data for the entire segment (Chemical Sterilizers) was missing in the US. The US segment level data was calculated using the percentage breakup among the segments of a category of Canada. Once the segment level data was calculated, the data for the sub-segments was calculated using the percentage break-up of Canada.
Market value is missing for a sub-segment - In this case, the sub-segment level data is calculated by using the percentage breakup of the country used as a benchmark. Benchmarking example for sub-segment market value is placed below:
Figure 12:   Benchmarking for Sub-Segment Market Value


 Source: GlobalData
In the above example, the data for a sub-segment (Ethylene Oxide (EtO) Sterilizers) was missing within the segment (Chemical Sterilizers) for Switzerland. The Switzerland sub-segment level data was calculated using the percentage breakup of Netherlands. As the data for the other segments in Switzerland was also missing, chemical sterilizers sub-segment level data for the missing nodes was calculated using the percentage breakup of Netherlands.
In countries where no data is available at overall market, category, segment and sub-segment level, data calculation may involve steps 1 to 4.
Average Price Benchmarking:
The parameters considered in the final market value benchmarking sheet are as follows:
•	Total Population
•	GDP (Constant USD)
•	GDP per Capita
•	GDP as % of Healthcare Expenditure
•	Total Expenditure on Health
•	Health Expenditure per Capita (Constant USD)
•	Price Level Index (World = 100), Health
•	Health Expenditure, Public (% of Total Health Expenditure)
•	General Government Expenditure on Health per Capita
•	Health Expenditure, Private (% of Total Health Expenditure)
•	Private Expenditure on Health per Capita
Weightage is given to different parameters in order to calculate ranking of different countries. Weightage used for the purpose of calculation are as follows:
•	GDP per capita- 1%
•	Price Level Index (World = 100), Health - 97%
•	General government expenditure on health per capita - 1%
•	Private Expenditure on health per capita - 1%
Country Selection for Average Price Benchmarking:
Country selection for average price benchmarking takes into account the common borders of the country, proximity, membership of trade blocs and weighted average. The options provided for each country is primarily based on geography and also the ranking order defined by the weighted average obtained by calculating the percentages given to the selected parameters.
There are five country options provided for all the 39 countries for benchmarking except for Japan and Chile which have only 4 options. Options 1-5 indicate preference, with 1 being the most preferred. Tier - I, II and III countries are benchmarked against the most preferred option having the data for the node to be benchmarked.
Tier IV countries require complete benchmarking with the countries having complete data available through primary and secondary research.
Following table provides the list of countries to be benchmarked with benchmarking country options for average price:
Table 4:   Average Price and Company Share - Country Options Matrix

S.No	Country	Tier	Option 1	Option 2	Option 3	Option 4	Option 5
1	Australia	Tier I	New Zealand	Japan	United Kingdom	Canada	United States
2	Brazil	Tier I	Mexico	Portugal	Spain	Italy	France
3	Canada	Tier I	United States	United Kingdom	Sweden	Denmark	Germany
4	China	Tier I	India	Taiwan	South Korea 	Japan	Russia
5	France	Tier I	Germany	Italy	United Kingdom	Ireland	United States
6	Germany	Tier I	France	Italy	United Kingdom	Ireland	United States
7	India	Tier I	China	Taiwan	South Korea 	South Africa	Russia
8	Italy	Tier I	Spain	France	Germany	United States	United Kingdom
9	Japan	Tier I	Taiwan 	South Korea	Australia	United States
10	Mexico	Tier I	United States	Canada	Brazil	Spain	Italy
11	Russia	Tier I	Poland	Portugal	Spain	Italy	Germany
12	South Korea	Tier I	Taiwan 	Japan	New Zealand	Australia	United States
13	Spain	Tier I	Israel	France	Germany	United Kingdom	United States
14	United Kingdom	Tier I	Sweden	Denmark	Ireland	Netherlands	Austria
15	United States	Tier I	Canada	Ireland	Netherlands	Austria	Germany
16	Denmark	Tier II	Sweden	United Kingdom	Ireland	Netherlands	Austria
17	Ireland	Tier II	Netherlands	Austria	Belgium	Germany	France
18	Netherlands	Tier II	Belgium	Austria	France	Germany	United States
19	New Zealand	Tier II	Australia	Taiwan	South Korea 	Japan	United States
20	South Africa	Tier II	Russia	Poland	United Kingdom	Spain	Italy
21	Sweden	Tier II	Denmark	United Kingdom	Ireland	Netherlands	Austria
22	Switzerland	Tier II	Norway	Denmark	Sweden	Ireland	Germany
23	Austria	Tier III	Netherlands	Belgium	Germany	France	United States
24	Belgium	Tier III	Netherlands	France	Germany	Ireland	Austria
25	Finland	Tier III	Belgium	Austria	Netherlands	Ireland	Germany
26	Israel	Tier III	Spain	Italy	France	Germany	United Kingdom
27	Norway	Tier III	Switzerland	Denmark	Sweden	United Kingdom	Ireland
28	Poland	Tier III	United Kingdom	Sweden	Denmark	France	Germany
29	Portugal	Tier III	Spain	Italy	France	Germany	United Kingdom
30	Taiwan	Tier III	South Korea	Japan	New Zealand	Australia	United States
31	Czech Republic	Tier IV	Portugal	Spain	Italy	France	Germany
32	Turkey	Tier IV	Russia	Poland	United Kingdom	Sweden	Germany
33	Saudi Arabia	Tier IV	Taiwan 	South Korea	New Zealand	Australia	United States
34	Greece	Tier IV	Portugal	Spain	Italy	France	Germany
35	Argentina	Tier IV	Brazil	South Africa	Mexico	Poland	United States
36	Egypt	Tier IV	India	China	Russia	Poland	Spain
37	United Arab Emirates	Tier IV	Germany	France	United Kingdom	United States	Ireland
38	Hungary	Tier IV	Portugal	Spain	Italy	France	United Kingdom
39	Chile	Tier IV	Brazil	Mexico	Canada	United States

Source: GlobalData


















ASP Benchmarking Process:
The country for which average price data is missing for any node is selected for benchmarking. Then the country to be used as a benchmark is selected from the table displayed above.
Average price data for the missing nodes is calculated using the percentage calculated from ASP benchmarking sheet. A benchmarking example for average prices is shown below:

Figure 13:   Benchmarking Example for Average Prices


 Source: GlobalData

The data for the missing nodes in Egypt was arrived by applying the percentage (103.1%) calculated from ASP benchmarking sheet. The percentage (103.1%) is calculated by dividing the correction factor of the Egypt with India. This calculation has been used all across.












Company Share Benchmarking Process:
In company share benchmarking, the country selected as a benchmark should have complete company share data and should not have any benchmarked data.
As a first step, the country to be benchmarked is selected along with the country to be used as a benchmark. Companies to be benchmarked are then checked for their presence in the selected country. Then, the same company share in percentage terms is used to calculate company shares of a country that needs to be benchmarked. A benchmarking example for company shares is placed below:

Figure 14:   Benchmarking Example for Company Share


 Source: GlobalData

In above example, to calculate company shares of Poland, firstly, companies were checked for their presence. Then the company share of UK was used to arrive at the company share of Poland.








Distribution Share Benchmarking Process:
In distribution share benchmarking, the country selected as a benchmark should have complete distribution share data and should not have any data benchmarked using another country. The shares obtained for the channels in the country used as a benchmark will be used to arrive at the distribution share of country that needs to be benchmarked.
Figure 15:   Benchmarking Example for Distribution Share


 Source: GlobalData

In above example, the distribution channels data for India was collected through primary and the same breakup was used to calculate distribution shares of Taiwan.
Market Models Benchmarking Process:-
For Benchmark countries, GDRC team  collects the data for Market Value, Volume, ASP, Company Shares or ranking of major players (at Category level, Segment level and Sub-Segment level), Distribution Shares and the data for other model parameters on best effort basis and incorporate the same in the model. These models are then shared with GD team.
The benchmarking countries are completed and finalized by the GD team. Once the benchmarking models are completed, GDRC team does the basic check and calculations before uploading these models to the database.

Note: In case of no options/discrepancies while benchmarking, GDRC team consults Andrew for further course of action. Based on his experience and expertise, Andrew suggests benchmarking options to be followed in such cases.
6	GlobalData Medical (GDM) Platform
Based on communication received from senior management, we have integrated both the GDME and GDMEIC portals into a single platform on September 27, 2015, which is referred to as GlobalData Medical (GDM). The URL for GDM portal is as follows:
http://medical.globaldata.com
GDM is the most comprehensive competitive intelligence portal built specifically for the medical equipment industry. GDM aims to be one of its kind in the industry with unmatched coverage, online analytical tool and will eventually capture information on medical equipment markets at a more granular level.
The navigation bar of the GDM portal has following tabs:
•	Home
•	Databases
•	Market Data
•	Market Analysis

6.1	Home
This refers to the home page of the GDM. The content available on home page is mentioned below:
•	Featured Expert Insights: The most recently published Expert Insight is displayed under this section along with an executive summary. Featured Expert Insights are updated on a weekly basis.
•	Featured Analysis: Executive Summary of the most recently published MediPoint report is displayed under this section. Report for a specific market will appear on home page based on client’s subscription. For instance, if a client has subscription for Orthopedics market, then the two most recently published MediPoint reports on Orthopedics market will be displayed.
•	Featured Clinical Trial: Information related to the most recently published clinical trial is published under this section. Clinical trial information related to innovative technologies and from major medical device companies take precedence over others in terms of publishing it on the GDM platform. Clinical trial information is updated on weekly basis.
•	Featured Deals: The most recent deals related to the medical devices market is displayed under this section. Deals selection is based on criteria such as deal value ($), product sharing agreements between companies and key acquisitions related to the market. Featured Deals is updated on a daily basis.
•	Featured News: The most recent news related to the medical devices market is displayed under this section. News selection is based on criteria such as product approvals, clinical trial study results, new product launches and company’s financial results. Featured News is updated on a daily basis.
Apart from the featured articles, the database has quick links for navigating expert insights, recent reports, product by stage, latest news and deals. Stats related to the medical equipment industry deals are available on the upper right hand side of the home page. The latest site statistics can also be viewed at the bottom of the home page.




6.2	Databases
The various databases available under ‘Databases’ tabs are
•	Products Database
•	Clinical Trials Database
•	Companies Database
•	Countries Database
•	Devices Database
•	Deals Database
•	News Database
6.2.1	Products Database
The products database has two options:
1.	Pipeline products
2.	Marketed products
Pipeline products database covers all pipeline products meant for diagnosis, treatment, and management of particular disease/condition/symptoms directly or indirectly. The products which are a combination of a drug and a device are also captured under this database. The list of markets covered in pipeline database is as follows:
1.	Anesthesia & Respiratory Devices
2.	Cardiovascular Devices
3.	Dental Devices
4.	Diabetes Care Devices
5.	Diagnostic Imaging
6.	Drug Delivery Devices
7.	ENT Devices
8.	General Surgery
9.	Healthcare IT
10.	Hospital Supplies
11.	In Vitro Diagnostics
12.	Nephrology & Urology Devices
13.	Neurology Devices
14.	Ophthalmic Devices
15.	Orthopedic Devices
16.	Wound Care Management

Pipeline products which do not fall under above 16 markets are covered under Specialized Sectors. This includes Blood Purification Equipment, Dermatology, Interventional Radiology, Liver Dialysis Equipment, Oncology Devices, Organ Preservation Equipment, Pain Management, Robotic Surgery and Women's Health.
Pipeline product database has 2 newly added tools on the platform: Device Approval Analyzer and Device Analyzer.


Device Approval Analyzer
Device Approval Analyzer forecasts medical device approval estimation timelines based on Market, Category, Territory, Device Class, and Development Stage. The analyzer is intended to provide:
•	Guidance to companies entering the medical device market (new market) to assess risk and estimate potential project timeline on the various components of product development
•	Aid potential investors in determining support for a project at various stages or during acquisition of assets/technology
•	Help companies ascertain when a competitor might launch a potentially disruptive product on the market and plan accordingly
•	Forecast disruptive product launches and aid event-driven forecasts of market value
Previously, GlobalData utilized a methodology based upon a 2010 survey of medical device companies to forecast pipeline approval. This new methodology replaces the previous methodology, in order to capture recent regulatory approval timeline trends. The result is the Device Approval Analyzer, which is built by using historical data and secondary/primary research methodology.
In addition to using in-house product database, data sets were created using various data points for these devices based on company announcements, company reports (annual/quarterly), news (relevant publicly available sources), clinical trials registries, conference presentations and regulatory body declarations wherever possible. In combination with the data set, the team also incorporates the following components, which comprises:
•	Review of existing marketed products (currently over 8,400 marketed medical devices) across various markets such as Cardiovascular, Orthopedic, In Vitro Diagnostics, Ophthalmic, Dental, Neurology, Anesthesia & Respiratory, ENT, Diabetes Care, Wound Care Management etc
•	Study of medical device product lifecycle including early development (prototype design and concept), clinical trials, regulatory registration and decision event timelines.
•	Critical analysis of data points gathered from research (Secondary/Primary).
•	Segmentation of data by market and category based on the type of device (category) that is being developed which influences development timelines.
•	Further segmentation by geography; different national and regional regulatory regimes have distinct differences, which might not only impact on the length of time a regulatory decision is taken, but also influence decisions taken by companies whether to submit a particular application or even the decision to make an application.
Device Analyzer
This is a Tableau based tool to visualize existing datasets of pipeline products database. “Device Analyzer” enhances the analysis and visualization of the premium content of pipeline database. Following are the key features of the tool:
•	Helps the user perform pipeline analysis using various parameters such as geography, product estimation, device use and development stage
•	Aids users to analyze pipeline data of interest and visualize them in interactive graphs
•	Enriches the existing content by providing powerful images and graphs such as hit maps, ranking analysis, geographical representation, estimation analysis
•	Provides functionality to download and export data based on the selection criteria
6.2.2	Clinical Trials Database
The Clinical trials database covers medical devices and drug and device combinations. However, it excludes drug (or medicines) based clinical trials. Clinical trials information for medical devices listed here includes clinical trials which are completed and ongoing. The database is a comprehensive resource for clinical trials of medical devices collated from various clinical registries across the globe.
6.2.3	Companies
Companies’ database is a complete source for company and competitor information by providing reliable facts and figures, and other detailed information on the company, specific to the type of profile. The company profiles include – SWOT profile and Capsule profile. SWOT profile is the most comprehensive type of profile, while a Capsule profile is a subset of the SWOT profile.
6.2.4	Countries
The countries database provides the below information:
•	Healthcare relevant information about a country
•	Geographic coverage – 39 countries across 4 regions
•	Information available for the below mentioned topics
•	Country overview
•	Healthcare sector review
•	Healthcare regulatory structure
•	Pricing and reimbursement
•	Healthcare stats
6.2.5	Devices
Devices database has the following two options:
•	Devices By Therapy Area
•	Devices By Application
‘Devices by Therapy Area’ database provides markets by medical devices therapy area. Following are the therapy areas available on Base Market Data tab:
1.	Anesthesia and Respiratory Devices
2.	Cardiovascular Devices
3.	Dental Devices
4.	Diabetes Care Devices
5.	ENT Devices
6.	Nephrology and Urology Devices
7.	Neurology Devices
8.	Ophthalmic Devices
9.	Orthopedic Devices
‘Devices by Application’ database provides markets by medical devices application area. Following are the application areas available on Base Market Data tab:
1.	Diagnostic Imaging
2.	Drug Delivery Devices
3.	Hospital Supplies
4.	In Vitro Diagnostics
5.	Healthcare IT
6.	General Surgery
7.	Wound Care Management
6.2.6	Deals Database
The deals database is a collection of mergers and acquisitions (M&A), equity offerings, debt offerings, partnerships, private equity (PE) and venture finance (VF) transactions, licensing agreements, asset finance and asset purchase transactions globally. The deals database provides complete information of deals including summary of a deal, deal rationale, deal financials, parties involved, advisors information, and company financials.
6.2.7	News Database
The news database provides up to date information and in-depth news coverage. The database aligns with the GlobalData’s Companies database, covering the latest news for all companies featuring in the database. News is collected from major sources including national government sites, regulatory authorities, industry associations and company websites.
6.3	Market Data
The following information is available under this tab:
•	Base Market Data
•	Procedures
•	Medtrics Analysis Tool
•	Market Models
•	New Medtrics Analysis Tool
•	Market Data Statistics
6.3.1	Base Market Data
Base Market Data has the following two options:
•	Market Size and Growth
•	Base Market Analysis Tool
This database provides market size and company (market) share information for the various device types for a country selected. Base Market Data uses a 4 level taxonomy for providing this information on the 16 markets. Parameters covered are as follows:
•	Market size in terms of value (with 5 currency options)
•	Market size in terms of volume
•	Average selling price (with 5 currency options), available for only at the lower most levels
•	Distribution share
•	Company (Market) share
Base Market Analysis tool is useful to compare the size and growth of markets and market categories in the countries/regions that are tracked under the market database. The tool can also be used to compare the competitive landscape by category by region and by country. Data on the tool can be viewed from 2015 – 2025.
6.3.2	Procedures
This database provides data on key surgical and diagnostic procedures for the following therapy areas:
1.	Aesthetic Procedures
2.	Biopsy Procedures
3.	Cardiovascular Procedures
4.	Dental Procedures
5.	Diagnostic Procedures
6.	Endoscopy Procedures
7.	General Surgery Procedures
8.	Neurological Procedures
9.	Obstetrical and Gynecological Procedures
10.	Ophthalmic Procedures
11.	Orthopedic Procedures
The key procedures that utilize a medical device are tracked by ICD-9 codes. The team has stopped updating the Procedure Database from 2013 onwards.
6.3.3	Medtrics Analysis Tool
Medtrics Analysis Tool uses multi-level taxonomy depending on the market. Taxonomy levels are as follows:
•	Market
•	Category
•	Segment
•	Sub-segment 1
•	Sub-segment 2
•	Sub-segment 3
Parameters covered are
•	Market size in terms of value
•	Market size in terms of volume
•	Installed base (for capital equipment)
•	Procedures
•	Average Selling Price (ASP)
•	Distribution Share
•	Company (Market) Share
Note that only value, volume and ASP data will be available for Immunochemistry category on Medtrics Analysis Tool.
Currently data for Orthopedic Devices, Diagnostic Imaging, Cardiovascular Devices, General Surgery, Wound Care Management and IVD (Immunochemistry category only) markets are available on the platform. GDRC team has completed the updation of Orthopedic and Cardiovascular Devices market in 2015, Diagnostic Imaging and General Surgery markets were updated in 2016 and its roll over was done in the year 2017.
Medtrics Analysis Tool also provides historic and forecast data on the number of surgical and diagnostic procedures conducted per annum. Currently, procedures related data is available for Orthopedic, Cardiovascular, General Surgery and Wound Care Management markets on the database. The procedures data can be viewed at global, regional and country level for the historic and forecast years.
6.3.4	Market Models
Models are available under “Market Models” tab on the platform. Epidemiology based models and capital equipment models developed for Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, General Surgery, Wound Care Management, In Vitro Diagnostics, Anesthesia & Respiratory Devices and Dental Devices markets are available under this tab.
6.3.5	New Medtrics Analysis Tool
GlobalData in January, 2018 has incorporated a new tab “New Medtrics Analysis Tool”, which allows users to visualize data across the platform through graphical representation. This database uses multi-level taxonomy, depending upon the market selected. Taxonomy levels are as follows:
•	Market
•	Category
•	Segment
•	Sub-segment 1
•	Sub-segment 2
•	Sub-segment 3

Parameters available on the new tool are as follows:
•	Market size in terms of value (with 28 currency options),
•	Market size in terms of volume
•	Average Selling Price (ASP) (with 28 currency options),
•	Company (Market) Share
•	Distribution Share
•	Procedures (depending upon the market selected)
•	Installed base (for capital equipment)
Apart from the parameters mentioned above, New Medtrics Analysis Tool has a ‘Summary’ tab, which showcases the parameters such as value, volume and ASP across region(s) on a global map for better comparative analysis between different region(s)/countries.
6.3.6	Market Data Statistics
Market Data Statistics list the publication year for 16 markets which are available on the platform.
6.3.7	Data and Models Upload Process
6.3.7.1	 Models Data Upload on Timetric (Medtrics Analysis Tool)
At the end of each market completion, the market taxonomy is updated for Timetric as well. To update the market taxonomy, go to https://bcu.timetric.net/taxonomies/, search for relevant market, click on the market, then click on “download as spreadsheet” to download the previous taxonomy. After downloading the previous taxonomy, update the taxonomy and click on “Replace with spreadsheet” to update the taxonomy.  Once we upload the updated taxonomy on https://bcu.timetric.net/taxonomies/. Files for upload for market size (value and volume), companies, channels, installed base and procedures provided by the Timetric team can be downloaded from “https://bcu.timetric.net/” > Cubes.
To upload the files, process is as follows:
•	Open WinSCP (Note that WinSCP is installed on selected systems of PM, APM and Senior Analysts/Analysts)
•	Double click on ‘Cubes Database’
•	Paste the spreadsheets under the respective market folders

To publish data go to https://bcu.timetric.net/ > Cubes, search for concerned market, click on the market, then click on “Import new data”
•	Under the tab ‘Spreadsheet Checked’, click on ‘Publish’ for the respective ‘market’ and further approve data for publishing on Timetric.
•	The final uploaded Timetric files are placed in ‘Files For Upload’ folder under the sub-folder, “Timetric” for each of the markets. Sample Timetric upload files are as follows:














Figure 16:   Sample Value and Volume Timetric Upload File


 Source: GlobalData

Figure 17:   Sample Company Share Timetric Upload File


 Source: GlobalData







Figure 18:   Sample Distribution Share Timetric Upload File


 Source: GlobalData


Figure 19:   Sample Timetric Procedure Upload File


 Source: GlobalData
6.3.7.2	JIRA Tool
JIRA Tool is used to raise requests such as cube generation, sample templates generation, bugs etc on Timetric Tool. Below are the steps to generate a ticket on JIRA:

Step 1: Login into the JIRA tool (https://timetric.atlassian.net)
Step 2: Click on the ‘Create’ button to raise the issue. Once the page refreshes, a window pops up. In the window the project by default will be database creation. Based on the requirement, we need to select ‘Issue Type’, ‘Assignee’ and ‘Description’ etc has to be filled. Once all the relevant fields are filled, we need to click on the ‘Create’ button available on the bottom of the pop up window.
Step 3: Once responded, query needs to re-assigned to the concerned person, in case the issue is pending.
Step 4: Once the task is completed, click on ‘Done’ button.
It is important that there is one clear task per issue and it should be assigned to the correct person.

Note that we have discontinued updating data on Timetric platform from Q2, 2018 based on instructions from the GD team.

6.3.7.3	 Models Upload Process (Market Models)
Below is the process for uploading the models on the portal.
•	Go to  http://cms.globaldata.com/
•	Select ‘Market Solution Models’ tab, available on the top left corner of the home page
•	Once the page refreshes, from the ‘Select Market Type’ drop down list, select the market under which the models are to be uploaded
•	Add model name in ‘Title’ box
•	Click on ‘Browse’ to upload the model
•	Once the model is uploaded, click on “Add” button.

Below is the home page of the market models upload site:
Figure 20:   Market Models Upload Site


 Source: GlobalData

6.3.7.4	 Base Market Data Upload

Following is the process for uploading the market value, volume, average price, distribution and company share data:
•	Data is initially uploaded on the test site (http://venus/Medicaltest/). The software Team activates this link when the medical Team requests for data upload.
•	The uploaded data is visible on MAT test link (http://venus/mattest) for QC. Note that the test site may or may not be same for all the markets. Software Team provides the test link once the data is uploaded and is ready for QC by the medical Team.
•	Once the data is appearing fine on the test site, the data is then uploaded on to the MAT tool (http://venus/mat/) provided by the software Team.
•	The uploaded data is visible on the site (http://venus/Medical/) for QC. The medical Team does a thorough QC of the data. Once the data is reflecting fine on this site, the medical Team sends a confirmation mail to software Team to move the data to the live GDM site (http://medical.globaldata.com/).
•	The medical Team does a final QC on the GDM site.
In case any issues crop up at any stage of upload or QC, the issue is fixed and the data is uploaded again.

Figure 21:   Market Uploaded by Base Market Data


 Source: GlobalData
Files for upload are generated once the market is completed. Three separate file are prepared for uploading value, volume, average price, distribution shares and company shares. The upload file for market value, volume and average price data consists of one tab named ‘Backend_MS’. Distribution and company shares are uploaded in separate files with tabs named as ‘Backend_DS’ and ‘Backend_CS’ respectively. The upload file format has been changed from 39 individual country files to single consolidated market file.
The sample files are placed below:
Figure 22:   Value, Volume and ASP Sheet in Files for Upload (1 of 2)


 Source: GlobalData
Figure 23:   Value, Volume and ASP Sheet in Files for Upload (2 of 2)


 Source: GlobalData


Figure 24:   Distribution Share Sheet in Files for Upload


 Source: GlobalData



Figure 25:   Company Share Upload File


 Source: GlobalData

Guidelines to be followed are:
•	The years marked on upload sheets are from 2000 to 2030 for market size and 2005 to 2030 for company share and distribution share and these should be in square parenthesis.
•	Market size data is available from 2015-2025.
•	Company share and distribution share are available for base year of the particular market updated.
•	CAGR column should not appear on the upload files since these are automatically calculated.
•	Words in the files should have first letter in upper case followed by the remaining letters in smaller case.
•	Names of the market, category, segment, sub-segment, should match the master taxonomy file.
6.3.7.4.1 Uploading Market and Company Share Sheets
The final QC’d market files are uploaded on Base Market Data using MAT tool link:
http://venus/MAT/MarketUpload/UploadSheetsNew.aspx

To upload markets files, please select the ‘Market Database’ radio button. Then upload the market files using the ‘Browse’ button. Once the file is selected, click on ‘Upload File’ button.





Figure 26:   Screen Shot of Uploaded Market Sheet on MAT (1 of 2)


 Source: GlobalData

Once the market file is uploaded successfully, the page refreshes and by clicking on ‘Deploy Market Share Data’ button, the market file gets deployed on the Base Market Data database.

Figure 27:   Screen Shot of Uploaded Market Sheet on MAT (2 of 2)


 Source: GlobalData

Company shares for all the countries and companies are uploaded using one CSA file. The market files are uploaded on Base Market Data using MAT tool link: http://venus/mat/MarketUpload/UploadSheet.aspx
To upload CSA files, please select the ‘Company Share’ button. Then upload the market files using the ‘Browse’ button. Once the file is selected, click on ‘Upload File’ button.

Figure 28:   Screen Shot of Uploaded CSA Sheet on MAT (1 of 2)


 Source: GlobalData

Once the CSA file is uploaded successfully, the page refreshes and by clicking on ‘Deploy Company Share Data’ button’, the market file gets deployed on Base Market Data.

Figure 29:   Screen Shot of Uploaded CSA Sheet on MAT (2 of 2)


 Source: GlobalData

6.3.7.4.2 Adding New Companies using MAT
New companies are added using the MAT tool. Select “Add Company” option in the tree present on the left side of MAT tool (http://venus/MAT/Admin/addcompanies.aspx). Companies can be tagged by the Medical team only after the Companies team adds the company to the GDM database. Please follow the below steps to add new company by country:
•	Enter the company name in the ‘Company Name Starts with’ box.

Figure 30:   Company Addition on MAT 1


 Source: GlobalData
•	By selecting ‘Go’ button, all the related companies will be displayed in the ‘Select Company’ drop box.

Figure 31:   Company Share Authoring on MAT 2


 Source: GlobalData

•	The page refreshes once the company is selected from the drop box. Company for the specific country can be tagged by selecting the desired country from the ‘Country Name’ drop box. After selecting the country, click on ‘Add’ button to add the company to the country.
Figure 32:   Company Share Authoring on MAT 3


 Source: GlobalData

6.3.7.5 New Medtrics Analysis Tool Upload
Following is the process for uploading the market value, volume, average price, company share, distribution share (channels) procedures and installed base data:
•	Data is uploaded using MAT tool (http://venus/mat/).
•	The uploaded data is visible on MAT test link (http://testsites.globaldata.com/Medical) for QC. Software Team provides the test link once the data is uploaded and is ready for QC by the medical Team.
•	Once the data is reflecting fine on this site, the medical Team sends a confirmation mail to software Team to move the data to the live GDM site (http://medical.globaldata.com/).
•	The uploaded data is visible on the GDM site (http://medical.globaldata.com/). The medical team does a thorough QC of the data to ensure the data is reflecting fine on live site.
In case any issues are identified at any stage of upload or QC, it is communicated with the software team. The data is then deleted by software team from backend and the updated data is uploaded again.

Figure 33:   Markets Uploaded on New Medtrics Analysis

S.No.	Market
1	Cardiovascular Devices
2	Dental Devices
3	Diagnostic Imaging
4	General Surgery
5	In Vitro Diagnostics
6	Orthopedic Devices
7	Wound Care Management

 Source: GlobalData
Files for Upload are generated once the market is completed. The upload files for New Medtrics Analysis Tool Upload are prepared separately for ‘Value’, ‘Volume’, ‘Average Price’ and ‘Channels’ (Distribution Share), ‘Company Share’, ‘Procedures’ and ‘Installed Base’. The sample files are placed below:

Figure 34:   Value Sheet in Files for Upload


 Source: GlobalData

Figure 35:   Volume Sheet in Files for Upload


 Source: GlobalData




Figure 36:   Average Price Sheet in Files for Upload


 Source: GlobalData

Figure 37:   Distribution Share Sheet in Files for Upload


 Source: GlobalData


Figure 38:   Company Share Sheet in Files for Upload


 Source: GlobalData

Figure 39:   Procedures Sheet in Files for Upload


 Source: GlobalData

Figure 40:   Installed Base Sheet in Files for Upload


 Source: GlobalData

Guidelines to be followed are:
•	Separate upload files to be prepared for Value, Volume, Average Price and Distribution Share(Channels), Company Share, Procedures and Installed Base.
•	The years marked on upload sheets are from 2000 to 2030. Currently data is provided from 2015-2025.
•	CAGR column should not appear on the upload files since these are automatically calculated.
•	Words in the files should have the first letter in upper case followed by the remaining letters in small case.
•	Names of the market, category, segment and sub-segments, should match the master taxonomy file.
6.3.7.5.1 Uploading Market and Company Share Sheets
The final QC’d market files are uploaded on New Medtrics Analysis Tool using MAT tool link:
http://venus/mat/MedtricsAnalysis/UploadMedtricsAnalysisData.aspx
To upload markets files, please select the radio button with respect to the type of parameter to be uploaded (example: Value, Volume, Average Price etc. Then upload the market files using the ‘Browse’ button. Once the file is selected, click on ‘Upload File’ button.
Once the market file is uploaded successfully, it will get deployed on the New Medtrics Analysis tool database.
We receive test link from software team as and when we need. The test links available in this document may or may not work.




Figure 41:   Screen Shot of Uploaded Market Sheet on MAT 1


 Source: GlobalData

Figure 42:   Screen Shot of Uploaded Market Sheet on MAT 2


 Source: GlobalData

6.4	Market Analysis
Reports Database has four options:
•	MediPoint Reports
•	Country Focus Reports
•	Industry Analysis
•	Expert Insights
Market and Pipeline Analysis reports which were published in 2012 and before have been removed from GDM platform and GD Report Store.
6.4.1	MediPoint Reports
MediPoint reports are in-depth analytical reports providing data, insights and commentary on the medical devices markets. The MediPoint reports provide strategic insights on competitive landscape, market trends, dynamics and barriers for the global medical devices markets. Through extensive primary research, which consists of hundreds of interviews with Key Opinion Leaders (KOLs) and industry experts, the MediPoint reports provide clients the vital information needed to make strategic decisions. These reports are authored by the GD teams.
6.4.2	Country Focus Reports
This section provides Country Focus reports for 40 plus countries. The Country Focus report includes data, analysis, key trends and insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure for the pharmaceutical and medical device markets.
These reports are built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts. Country Focus reports which were published in 2012 and before have been removed from GDM database.
6.4.3	Industry Analysis
Industry Analysis section has following two options:
•	Devices
•	Procedures
Devices section provides a list of market databooks produced by the team.  Market databooks are reports providing market related data along with information on pipeline products, news and deals. Note that information on pipeline products, news and deals may not be available in all the reports. Databooks are produced following the completion of a market on both Base Market Data and Medtrics Analysis Tool. More than 3,000 market databooks have been produced so far for Anesthesia and Respiratory Devices, Cardiovascular Devices, Dental Devices, Diabetes Care Devices, Diagnostic Imaging, Drug Delivery Devices, General Surgery, Healthcare IT, Hospital Supplies, In Vitro Diagnostics, Nephrology and Urology Devices, Neurology Devices, Ophthalmic Devices, Orthopedic Devices and Wound Care Management. Market databooks published based on old methodology have been removed from GDM platform and GD Report Store.
Procedures section provides a list of procedure databooks produced by the team. Procedure databooks provide only procedures data and no information related to pipeline products, news and deals is available in these reports. Procedures databooks are produced following the completion of market models. Note that procedure databooks are not produced following the completion of a market on Base Market Data since procedures data is not gathered for these markets.
6.4.4	Expert Insights
GlobalData's Expert Insights provide an analyst's view of the latest trends and events in the medical devices industry. Expert Insights provide insights and commentaries on recent mergers and acquisitions, product approvals and industry developments. Expert Insights are substantiated by quantitative data and forecasts based on our own proprietary research.

7	Databooks
7.1	Databooks Production
Databooks are produced by the databooks team which is part of the medical equipment team. Databooks are produced after the completion of a market. The databooks team produces both markets and procedure databooks. Markets databooks are produced following the completion of a market on both Base Market Data and Medtrics Analysis Tool. Procedures databooks are produced following the completion of a market on Medtrics Analysis Tool provided procedures data is available in the models. Note that procedure databooks are not produced following the completion of a market on Base Market Data since procedures data is not gathered for these markets.
Databooks are produced for 15 countries. For rest 24 countries, only databooks titles (including marketing material) are prepared and uploaded on GD Report Store and also sent to Distributors based on availability of time and resources. These databooks are published only on client’s request.
The databooks production process begins by preparing the list of databooks to be produced. The list typically includes databook title, databooks type, reference code, country/region, databook start date and end date.
Following are the types of market and procedure related reports produced by the databooks team -
•	By Market by Country
•	By Category by Country
•	By Category by Region (This includes BRIC reports)

Below are the snapshots of the medical markets and procedures databooks list:

Figure 43:   Markets Databooks List


 Source: GlobalData

Figure 44:   Procedure Databooks List


 Source: GlobalData
7.1.1	Databooks Templates Review and Approval Process
Market and procedure databooks templates are prepared by the databooks team for each of the databooks type. These templates are sent to the Senior Management for review. Upon receiving the approval, these templates are shared with the software team to set up the downloading process.
7.1.2	Databooks Download (Markets and Procedures)
Following is the process for downloading the databooks:
Step1: Go to http://venus/GDARF/
Figure 45:   Databook Download from GDARF


 Source: GlobalData









Enter ‘User Name’ and ‘Password’ and click ‘Submit’ button. The page refreshes to the following:

Figure 46:   Databook Download from GDARF


 Source: GlobalData
Step 2: Select ‘GDME Databooks’ to download the market databooks and ‘ME Procedures Databooks (Tableau)’ to download procedure databooks.

Figure 47:   Databook Download from GDARF



 Source: GlobalData
The below figure illustrates the markets databook download:

Figure 48:   Markets Databook Download from GDARF


 Source: GlobalData
 The below figure illustrates the procedure databook download:

Figure 49:   Procedure Databooks Download from GDARF


 Source: GlobalData

All 3 types of market and procedure databooks can be downloaded by selecting the buttons on top of the page.
The selected market and procedure databooks are downloaded on the below server location under the name of the analyst and the date on which the reports are downloaded:
\\Dmv6543\arfdata\Date (DDMMYY format)\analystname\ME-Timetric Reports
7.1.3	Databooks Authoring
The downloaded databook reports are checked by the analyst before proceeding for the report authoring. The databook is self QC’d by the author after the download. The analyst checks the downloaded data in the report with the data on the Base Market Data for market databooks and with Timetric procedure file and the model for procedure databooks. Any discrepancy in the data is relayed to the markets team.  Once all the issues are resolved and necessary corrections are made, the analyst sends the databook for Quality Check (QC).
The QC analyst checks the databook in its entirety. Typical QC check points include:
•	Databooks title, reference code and publication month and matching it with the GD Report Store (http://store.globaldata.com/)
•	Market segmentation and definitions
•	Matching the data in the databook with the data on the Base Market Data and market models wherever available
•	Company market share (%) is 100%
•	Distribution share market value is matching with market value for respective years at category level.
In case of discrepancies in the report, the QC analyst reports them to the production analyst and must get the discrepancies resolved before sending the report for publication.

7.2	Databooks Metadata - GD Report Store and Distributors
Beginning with Orthopedic databooks published in 2015, separate metadata (marketing material) is prepared for GD Report Store and Distributors.
The databooks metadata is uploaded to the GD Report Store (http://store.globaldata.com/) by sending an upload request to the software team.  The metadata file for all the databooks that are published on Friday must be filled by coming Wednesday and an email must be sent to the following –
To: "Raja Gananadh" <rgananadh@globaldata.com>"Prem Kumar Medikonda" pmedikonda@globaldata.com; spamujula@gdresearchcenter.com
CC:"Vikas Bedi" <vbedi@globaldata.com>, "Prem Kumar Medikonda" <pmedikonda@globaldata.com>, "Geddam Vamsee Krishna" <gkrishna@globaldata.com>, "Rohit Anand" <ranand@globaldata.com>, "Andrew Thompson" <athompson@globaldata.com>,"Tyler Fletcher" <tfletcher@globaldata.com>

The metadata file for GD Report Store is placed at the below:
Location: Y:\Shared Resources\xProjectManagement\GDRC Project Tracking Docs\Reports Tracker\New CMS Metadata
Filename: Reports Tracker for New CMS

The metadata file for Distributors is placed at the below:
Location: Y:\Shared Resources\xProjectManagement\GDRC Project Tracking Docs\Reports Tracker\Report Trackers for Distributors
Filename: Reports Tracker for Distributors_GD Medical

Old databooks based on old methodology have been removed from the report store due to differences in pricing of the databooks. Craig Pickering (copying software team) approved removal of old databooks from the report store. After Raja Gananadh’s approval, the software team removes old databooks from the report store.
Note that we do not upload complete reports on to the Report Store.
7.3	Databooks Publication
Publication of the databooks is done after the QC is completed. The published databooks are sent to the Distribution team on Monday of every week. All the published databooks are placed in a specific databooks repository folder (Y:\Report_Center\GlobalData) called “Report Center”.
The published databooks are placed in the below folders
•	Medical Industry Databooks – Market by Country and Category by Country databooks
•	Medical Procedures Databooks – All the Procedure databooks
•	Medical BRIC Databooks – BRIC databooks only
•	Medical Regional Databook Reports – Category by Region databooks excluding BRIC databooks

All the above folders have 3 sub-folders:
•	Needs Formatting
•	Files for Upload
•	Sent to Distributors
The reports that are sent to distribution must be placed in the “Needs Formatting” folder. Following is the sample format:
Table 5:   Metadata Tracker

S.No	Market	Report Code	Report Title	Word	PDF	Sample	PR	Metadata Tracker Updated
1	Cardiovascular Devices	GDMECC0698PDB	United States Prosthetic Heart Valve Procedures Outlook to 2021	Yes	Yes	 	 	Yes
2	Cardiovascular Devices	GDMECC0707PDB	United Kingdom Prosthetic Heart Valve Procedures Outlook to 2021	Yes	Yes	 	 	Yes
3	Cardiovascular Devices	GDMECC0716PDB	France Prosthetic Heart Valve Procedures Outlook to 2021	Yes	Yes	 	 	Yes
4	Cardiovascular Devices	GDMECC0725PDB	Germany Prosthetic Heart Valve Procedures Outlook to 2021	Yes	Yes	 	 	Yes
5	Cardiovascular Devices	GDMECC0734PDB	Italy Prosthetic Heart Valve Procedures Outlook to 2021	Yes	Yes	 	 	Yes

Source: GlobalData
Once the reports are placed in the respective report centre folders, an email confirmation is sent to the distribution team with the following details:
Email confirmation is sent to the following associates with the details mentioned above for all reports:
To: "Raja Gananadh" <rgananadh@globaldata.com>, "Prem Kumar Medikonda" pmedikonda@globaldata.com; "Suresh Pamujula" <spamujula@gdresearchcenter.com>,
CC: "Vikas Bedi" <vbedi@globaldata.com>, "Geddam Vamsee Krishna" <gkrishna@globaldata.com>, "Andrew Thompson" <athompson@globaldata.com>, "Rohit Anand" <ranand@globaldata.com>, "Irene Robinson" <irobinson@globaldata.com>, "Beata Blachuta" <beata.blachuta@globaldata.com>, "Vittal Bhaskar Rao" <bvittal@gdresearchcenter.com>, "Tyler Fletcher" <tfletcher@globaldata.com>
Note that email associates may change from time to time.
7.4	Databooks Upload on GDM
The published market and procedure databooks are uploaded on GDM database. The databooks are uploaded using the following link - http://cms.globaldata.com/
Please note that to upload the databooks, the analyst has to be logged in as ‘Author’ and to approve the uploaded reports, the analyst has to be logged in as ‘Admin’.
Below are the steps for uploading the databooks
Step 1: Log into http://cms.globaldata.com/ as Author.
Step 2: Once the page refreshes, select ‘Upload’ tab on the top left hand corner of the page.

Figure 50:   Databooks Upload using CMS


 Source: GlobalData

Step 3: Once the page refreshes, click on ‘Chose File’ and select the report to be uploaded. Once the report is selected, click on ‘Upload’ button.

Figure 51:   Databooks Upload using CMS


 Source: GlobalData
Step 4: The databook is checked thoroughly for the figures, tables and text display. Once all the chapters are checked, click on ‘Go to Next Step’ at the bottom of the page.

Figure 52:   Databooks Upload using CMS



 Source: GlobalData

Step 5: Once the page refreshes, fill in the required fields and change the ‘Status’ list from ‘Pending’ to ‘Send to Admin’ and click on ‘Save’. The saved databook is sent for approval.
In case of figures and tables not getting displayed incorrectly, change the ‘Status’ list from ‘Pending’ to ‘Rejected’ and click on ‘Save’. Necessary corrections are done to the databook and upload process starts again from Step 1.

Figure 53:   Databooks Upload using CMS


 Source: GlobalData

Step 6: Log into http://cms.globaldata.com/ as Admin.
Step 7: Once the page refreshes, select ‘View’ under ‘Document’ for the databook to be approved.


Figure 54:   Databooks Upload using CMS


 Source: GlobalData

Step 8: The databook is checked again for the figures, tables and text display. Once all the chapters are checked, click on ‘Go to Next Step’ at the bottom of the page.

Figure 55:   Databooks Upload using CMS


 Source: GlobalData
Step 9: Once the page refreshes, change the ‘Status’ list to ‘Approved’ and click on ‘Save’. The saved databook is approved and is displayed on GDM database.
In case of figures and tables not getting displayed incorrectly, the Admin selects ‘Rejected’ button and clicks on ‘Save’. The databooks gets rejected and necessary corrections are done to the databook by the ‘Author’ and databook upload process starts again from Step 1.

Figure 56:   Databooks Upload using CMS


 Source: GlobalData
Note that to upload and approve market databooks, Author and Admin have to be logged under ‘Medical Equipment’ and to upload and approve procedure databooks, Author and Admin have to be logged under ‘GlobalData Medical – IC’.

7.5	Databooks Plan
Month-wise databooks production for 2018 has been placed below:
Figure 57:   Databooks Production for 2018


 Source: GlobalData

The stats are provided as of July 31, 2018
File Location: Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Databooks 2018\Production Stats
Filename: Databooks Databooks Production Plan - 2018
8	Sources of Information
8.1	Secondary Research
The purpose of the secondary research is to gather all relevant data and information pertaining to a particular market for a particular country. The below figure illustrates some of the secondary sources that are usually referred.

Figure 58:   Secondary Research



 Source: GlobalData

Secondary research is carried out during the initial phase. For each country/market combination, the analyst must search for all the information available in the secondary domain. All relevant sources must be documented and saved electronically. Key information includes:
•	Epidemiology data including prevalence and incidence of diseases
•	Diagnosed or symptomatic population
•	Treatment rate
•	Surgical rate
•	Procedure volumes
•	Product pricing
•	Company shares and distribution shares


Figure 59:   Secondary Research Flow Chart


 Source: GlobalData
8.1.1	Critical Points
The major challenge in this process is ensuring that the quantity and relevance of the sources found is sufficient. On some occasions, there will be fewer sources available; in such cases, the research process will have to rely on estimates backed up by primary research.
The lead analyst should run checks on how much secondary information has been gathered. In cases where the analyst has found little information, the lead analyst must use their judgment on whether the number of existing sources is genuinely low, or whether the analyst is not following the process correctly.
Information from sources such as blogs, competitor report and discussion groups cannot be used as a source in the models.
8.1.2	Copyright Checks for Secondary Literature
Copyright checks for secondary literature
•	Explained during training as to the kind of sources we can refer to and use.
•	Clinical literature freely available on Google, Pubmed, Medscape, Association websites can be used
•	Paid articles and even abstracts of paid articles, unless paid for, should not be used
•	Competitor info, information from proprietary databases not to be used.
•	As per the GlobalData copyright guidance, Government Registries/ International statistical organizations such as OECD, WHO, GLOBOCAN (IARC/WHO), and United Nations needs explicit approval for usage of their data for commercial purpose. Currently for the market models we are using all the mentioned sources as these sources are freely available through secondary research and data provided by these sources is reliable and authentic.
•	Also, in many cases these sources are referred by clients while providing feedback and by primary participants during the interviews.
•	All sources and data inputs are checked down to the level of original articles and counter-references
•	Analysts are trained and encouraged to discuss sourcing issues at the outset rather than at the QC stage
•	In case we need paid articles or info from proprietary databases (such as Ortho News Network, ECRI), we discuss with the GD team.  Information sourced through paid sources is used only after the discussion with GD team.

Key Things to Consider When Modeling:
Sourcing:
•	Hard data from reliable sources - use it to feed into the model
•	“Helpful” data - data that does not exactly correspond to the area of interest but sheds some light on it
•	Comparison data - Is the volume of plasters sold likely to be bigger or smaller than the number of bandages?
•	Key macro indicators - GDP, growth of the health market, population, demographics
•	Growth Rates
•	Utilize any hard data on growth rates
•	Consider key macroeconomic indicators and their relevance to the market

8.2	Primary Research
GDRC Medical Markets primary research process is aimed at collecting both qualitative and quantitative data for the models from demand side participants. Data points related to disease prevalence, incidence, growth rates, diagnosis and treatment rate, surgical rate, average life span of the devices, product uptake/usage rates, number and type of devices available in a healthcare facility, launch dates, company shares and average prices should be gathered from demand for market models. For Cardiovascular and Orthopedic Devices market update in 2017, GD team shared the demand side questionnaires for the models with GDRC team. GDRC team has conducted the demand side primary research to gather the information. GDRC analysts followed the below steps during demand side primary research:
Step 1 - Preparation of contact list
Step 2 - Conducting primary interviews
Step 3 - Preparation of transcripts
Step 4 - Follow up with the demand side primary participants
Prior to the market update in 2017, GDRC Medical Markets primary research process was aimed at collecting both qualitative and quantitative data for the models from demand and supply side participants. Efforts were made to gather qualitative data during the primary interview process such as market drivers, restraints, trends and company’s related information. Analysts followed below steps during primary research:
Step 1 - Preparation of contact list
Step 2 - Preparation of questionnaire
Step 3 - Conducting primary interviews
Step 4 - Preparation of transcripts
Step 5 - Follow up with the primary participants
Each data point in the market model should preferably be supported by 2 to 3 demand side calls for epidemiology based model and around 4 to 6 demand side calls for capital equipment based model. Also, for capital equipment models, primary call inputs used to calculate installed base grid should be more than 3 per facility type (hospital, clinics etc.). Inputs related to market growth rates, ASPs, product uptake/usage should also be backed up by at least 2 supply side participants.
Transcripts location for markets being updated in 2017 is as follows:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team \Market Models 2017\MARKET NAME\Final Models\ MODEL NAME \Sources\Primary Research\Transcripts

8.2.1	Preparation of Questionnaire
As a next step, a structured questionnaire should be prepared. The questionnaire varies based on type of stakeholder for capital equipment and epidemiology based models. For A&R Devices 2018 market update, demand and supply questionnaires were prepared by GDRC team and shared with GD team for final approval. Finally, questionnaires were approved by GD team.
Questionnaires were categorized as “Model Questions” and “Good to know questions”.
8.2.2	Preparation of Contact List
Preparing contact list for the market is the initial step in the primary research process. The primary research process done by GDRC Medical Markets team is based on interviews with demand side participants. GD team conducts primary research with supply side participants in order to do product/company mapping as well as validate ASPs, market growth rates and product usage. Prior to conducting the primary interviews, the analyst must develop a contact list. The contact list needs to be constantly updated by adding new contacts till the demand side data requirements for the questionnaire is achieved.
The contact sheet should cover the following fields:
1.	Model name
2.	Name of the participant
3.	Name of the Organization/Hospital Name/Clinics/Institutions/Others
4.	Type of health care institution (i.e. Hospitals/Clinics/Diagnostic Imaging Centre/Drug Store etc.)
5.	Designation, email ID’s and contact details (landline, mobile numbers) of participant
6.	Date, Phone ID and time of call
7.	Status and comments of the calls
Figure 60:   Primary Research Contact Sheet Snapshot


 Source: GlobalData
The contact list for each of the market model is placed at following location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team \Market Models 2017\MARKET NAME\Final Models\ MODEL NAME \Sources\Primary Research\Contact List
8.2.3	Conducting Primary Interviews
Demand and supply side primary interviews were conducted for A&R market while only demand side primary interviews were conducted for Dental market by GDRC team.
Following are the key points to be adopted during interview process:
•	Qualitative information related to market trends, drivers, restraints, product preferences, reimbursement scenario and alternative surgical treatment options, launch dates and average prices.
•	Quantitative information need to be gathered on disease prevalence, incidence, growth rates, diagnosis and treatment rate, surgical rate, average life span of the device, number and type of devices available in the healthcare facility, launch dates and average prices.
•	% of calls with <50% response rate in terms of no. of questions answered
•	In order to track data on a real time basis, response rate sheet (Metrics) is present in A&R and Dental market for quick analysis.

Metrics has Call Distribution Question Split Sheet and Sources by Model Parameters Sheet:-
These trackers store the information regarding the completeness of questionnaires and number of sources per question for each model. The base minimum target is 50% completeness of the questionnaire. In case, the response rate of the transcript is less than 50%, the analyst re-contacts the participant to gather the qualitative information to achieve more than 50% completeness of the questionnaire.
The tracker consolidates the completeness of questionnaires and number of sources per model per country for the market.
Figure 61:   Response Rate Sheet - Completeness of Questionnaires Consolidated (1/2)


 Source: GlobalData







Figure 62:   Response Rate Sheet - Completeness of Questionnaires Consolidated (2/2)


 Source: GlobalData

Figure 63:   Response Rate Sheet - Average Number of Sources by Question per Questionnaire - Consolidated


 Source: GlobalData

The Response Rate Sheet Tracker for both A&R Devices and Dental markets are present in the following location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Market Models 2017\Anesthesia and Respiratory Devices\Market Database – WIP\Metrics
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Market Models 2017\Dental Devices\Market Database – WIP\Metrics

Following are the key points to be adopted during interview process for Base Market Data (Top-down methodology) updates through supply side calls:
•	Quantitative information need to be gathered on market sizing and pricing
•	Quantitative information related to growth rates, company and distribution shares need to be gathered from the primary participants
8.2.4	Preparation of Transcripts
Once the calls are completed with the primary participant, the team has to translate the information discussed during the call in word document (Transcript). The transcript should cover exact information shared by the primary participants during the call along with the questions. Also the transcripts should cover market name, model name, name of the participant, designation, telephone number, e-mail id and country name.
Snapshot of a primary research transcript is placed below:
Figure 64:   A&R Devices – Primary Transcript


 Source: GlobalData

Transcripts location for A&R and Dental market are as follows:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Market Models 2017\Anesthesia and Respiratory Devices\Final Models\Model Name\Sources\Primary Research\Transcripts
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Market Models 2017\Dental Devices\Final Models\Model Name\Sources\Primary Research\Transcripts
With the IVD and WCM 2016 market update, GDRC team started preparing one methodology sheet for one model. The single methodology sheet consolidates the qualitative and quantitative inputs for quick reference and analysis from both demand and supply side calls. The sheet stores the inputs for 30 countries of single model.
The preparation of consolidated methodology sheet was followed for Cardiovascular and Orthopedic Devices 2017 market update only with qualitative and quantitative inputs from demand side calls for 30 countries.

Base Market Data:
Transcripts location for markets updated on Base Market Data (Top-down methodology) through supply side calls is as follows:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team\MarketDatabase_2017\MARKETNAME\Sources\COUNTRY NAME\Primary\Transcripts
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team\MarketDatabase_2018\MARKETNAME\Sources\COUNTRY NAME\Primary\Transcripts
8.2.5	Follow up with the Primary Participants
When the participant shares the E-mail ID during the primary interview and agrees for future communication through E-mail, the analyst should send an acknowledgment mail to the participant. The acknowledgment mail should mention the gratitude towards the primary participant in sharing the information and the minutes of the call. The acknowledgment mail helps to build a relationship with the primary participant and thus adding a benefit in reaching out to the participant again for additional information. Sample Acknowledgment Mail is placed below:

Dear XXXX,
It was nice talking to you. I acknowledge you for sharing valuable information in the call. The information shared by you is helpful for market study on XXXX. Your information helped me in gathering a valuable insight - (minutes of the call).
I would like to retain your contact for any future guidance. Please let me know if this is fine with you.
Please do not hesitate to contact me in case you have any questions or concerns.
Thanks and Regards,
XYZ (Analyst Name)
8.2.6	Data Sourcing Guidelines
Following is the data sourcing guidelines for models:
•	If two or more participants provide the same data inputs, we use the data point directly and mention it in the sources. Example:
	If two or more primary participants say that the average number of CT systems in hospitals is 2, then the analyst needs to mention this data point as 2 CT systems in the analyst comments section of the sourcing sheet of the model.
	If 3-4 or more participants give varying average number of CT systems in hospitals, then the analyst does a backend calculation to derive the average number of CT systems installed. In the analyst comments section of the sourcing sheet, the analyst needs to mention that this data point is calculated based on the primary participant’s inputs. The analyst will not mention the specific data points from each participant in this case.
8.2.7	Methodology Sheet
The Methodology sheet consists of the information regarding the details of the successful calls done by the analyst. The Methodology sheet stores qualitative and quantitative data shared by the demand side participants. It enlists the various secondary sources specific to the models.
The Methodology Sheet comprises following tabs:-
1.	Summary
2.	Call Log
3.	Demand-Quantitative
4.	Demand-Qualitative
5.	Secondary Sources







1.	Summary Sheet: The sheet stores the count of all the successful demand calls conducted by the analyst for each country.
Figure 65:   Snapshot of the Summary Sheet


 Source: GlobalData

2.	Call Log: The sheet stores the complete details of the successful demand calls conducted for each country.

Figure 66:   Snapshot of the Call Log Sheet


 Source: GlobalData


3.	Demand Quantitative: The sheet stores the quantitative information shared by the demand side participants as present in the transcripts.
Figure 67:   Snapshot of Demand Quantitative


 Source: GlobalData

4.	Demand Qualitative: The sheet stores the qualitative information shared by the demand side participants as present in the transcripts.
Figure 68:   Snapshot of Demand Qualitative


 Source: GlobalData
8.3	Preparing Modeling Sheets
Based on the communication with GD team, GDRC team created model flows for the A&R and Dental market which were shared with GD team for approval. For A&R market, GDRC team conducted demand and supply side primary research and secondary research to complete the models. Based on communication with the GD team, GDRC team used ECRI data (directly and indirectly depending on the model) for arriving at average selling price and company share for A&R market. The data from the ECRI data analysis was included in few of the models based on the discussions with the GD team. GD team conducted in-depth research to close and finalize the models.
For Dental market, GDRC team completed secondary and demand side primary research and shared the model inputs with the GD team for review. GD team conducted in-depth secondary and supply side research to close and finalize the models. ECRI data was not used for Dental market as it was initiated for A&R market for the first time in models.
Based on instructions from GD team, GDRC team built consolidated single model file including all the 39 countries. The consolidated file also includes Navigation Page, Model Structure, Market Summary, Backend MS, Backend CS, Backend DS, Insights, Market Access, Methodology, Definitions, Disease Background, Models for 39 countries and About GlobalData. Note that all the back-end sheets are hidden in the final upload version of the file. Insights, Market Access and Methodology tab are completed by GD team. This process has been initiated with the A&R and Dental market models.
The final A&R and Dental models were shared with GDRC team for sanity check. Post sanity checks, the models were closed and signed off by GD team. GDRC team then uploaded the consolidated file for all the A&R and Dental models on the platform.
As communicated by GD team in Q2 2018, GDRC team completed demand side primary research for Neurology Devices market models. GD team completed the models and shared the consolidated file (39 countries in a single file) with GDRC team. Backend Market Share, Distribution Share, Company Share and Market Summary sheets were added by the GDRC team. Post sanity checks, the Neurology models were uploaded by GDRC team on medical platform.

GD and GDRC teams are responsible for the following model tabs:

1.	Navigation Page tab - GDRC team
2.	Model Structure tab - GDRC team
3.	Market Summary tab - GDRC team
4.	Market Share tab - GD and GDRC teams
5.	Backend Sheets (hidden in final upload model) – GDRC team
6.	Insights tab – GD team
7.	Market Access tab - GD team
8.	Methodology tab - GD team
9.	Definitions - GD and GDRC teams
10.	Disease background (applicable to only epidemiology based models) - GD and GDRC teams
11.	Countries tab - GD and GDRC teams
12.	About GlobalData - GD and GDRC teams

Note that tabs responsibility for GD and GDRC teams may change from market to market and model to model.














Below are the screenshots and brief explanation as an example of the Global model file.

Figure 69:   Consolidated Model File – Navigation Page Tab


 Source: GlobalData

Note that in the capital equipment based models, all the above tabs are included except the Disease Background tab.

Figure 70:   Consolidated Model File – Model Structure Tab


 Source: GlobalData

Figure 71:   Consolidated Model File – Market Summary Tab


Source: GlobalData

Figure 72:   Consolidated Model File – Market Share Tab


Source: GlobalData

Figure 73:   Consolidated Model File – Insights Tab


Source: GlobalData

Figure 74:   Consolidated Model File – Market Access Tab


Source: GlobalData

Figure 75:   Consolidated Model File – Methodology Tab


Source: GlobalData


Figure 76:   Consolidated Model File – Definitions Tab


Source: GlobalData



Figure 77:   Consolidated Model File – Countries Tabs


Source: GlobalData


Figure 78:   Consolidated Model File – About GlobalData Tab


Source: GlobalData
In epidemiology based models, we first define the number of patients with a given disease state and then filter, to arrive at the number of patients who are actually using the device. This is done through a series of filters. The key steps involved in filtering are - a measure of disease prevalence or incidence; an estimate of the number of patients who are symptomatic for the disease; an estimate of the number of patients who are treated for the disease; and an estimate of the number of patients who are treated with a medical device. Epidemiology models typically follow below steps:
•	The first step in the model is to arrive at the population data. Typically population data are available from a country’s census office.
•	The next step involves arriving at the disease prevalence or incidence through primary and secondary research.
•	Primary interviews are conducted to estimate how many of these individuals are correctly diagnosed for a given disease.
•	Data related to percentage of patients (patients with the disease who are correctly diagnosed) who are prescribed a particular medical device is estimated based on primary calls.
•	Average Selling Prices (ASP) gathered from primary and secondary research is then applied on the medical device volumes to calculate the market value.
In capital equipment models, healthcare facilities where particular capital equipment is installed are first identified. For instance, below steps are followed to arrive at CT Systems market in a country:
•	The first step involves arriving at total number of Hospitals and Diagnostic Centers in a country.
•	Installed base of CT Systems is arrived by building a grid based on primary calls. Analysts call Hospitals and Diagnostic Centers (7-8 calls each) and find out number of CT Systems installed in each of them. Then the average number of CT Systems installed in these healthcare facilities is arrived at. The same average is then applied to the total number of hospitals and diagnostic centers in a country to arrive at the installed base in Hospitals and Diagnostic Centers. The installed base in hospitals and diagnostic centers is summed up to arrive at the total installed base of CT Systems in a country
•	Average lifespan of a CT System is gathered from primary and secondary research.
•	Replacement sales are calculated using total installed base (hospitals and diagnostic centers installed base is summed up) and dividing it by average life span.
•	Number of new CT Systems purchased by the healthcare facilities is calculated using installed base difference between two consecutive years (current and next year).
•	Sum of new and replaced CT Systems give the total number of CT systems sold in a country.
•	ASP gathered from primary and secondary research is then applied on the number of CT Systems sold to calculate the market value.
Depending on the data availability and based on discussions with the GD team, refurbished and used equipment market data is also captured in the model as a percentage of market value or volume.

8.4	Company Shares
Company share data is gathered using secondary and primary research. Following is the methodology followed:
•	GDRC team collects secondary sources for both public and private companies:
	In case of public companies, annual reports and regulatory filings, investor presentations, earning call transcripts are used for arriving at company revenue estimates in a particular market for a particular geography.
	For private companies revenue estimates are collected where available.
•	GDRC team also collects information related to specific brand(s) preference by doctors during demand side calls. Note that demand side participants may not always share this information citing confidentiality.
•	GDRC team then shares the secondary information available for company share and brand preference information with the GD team.
•	GD team conducts secondary research as well as supply side primary research to arrive at the final company share information. GD team incorporates the final company share data in the model and shares it with GDRC team.
8.5	Product and Company Mapping
Product and company mapping sheet provides information on various marketed products of the companies operating in a particular market/category/segment in the geography.
A snapshot of a sample file is given below:












Figure 79:   Product and Company Mapping Template


 Source: GlobalData

8.6	Distribution Share Analysis
Distribution share information is also gathered using a combination of secondary and primary research. Distribution share information must always be supported by primary interviews as availability of secondary data is limited in most of the cases. We aim to achieve 2-3 primary calls for gathering distribution share data. Note that for some countries and categories, we may not have more than one primary call.
Starting from GS and DI 2015-16 markets, GD team prepares the Distribution Share data for all the categories and share with GDRC team. GDRC team uploads the Distribution Share data on platform.
8.7	Procedures (Medtrics Analysis Tool)
Models form the basis for the procedures data. Procedures data is captured from the models and is fed into the Medtrics Analysis Tool on GDM. As models are built for each market, procedures data is taken from these models and are fit into the corresponding procedures therapy area. We currently have procedures data for A&R, Dental, Neurology, Orthopedic, Cardiovascular, General Surgery and Wound Care Management therapy areas.
8.8	Adherence to GD IP policy
The team shall ensure that while collecting the information from secondary sources, GlobalData's IP policy is adhered to. Information shall be collected from publicly available company and government sources. In case a source specifies that explicit permission is required before using their data then the permission shall be sought and the data shall be used only in case the permission is provided by the source. The team shall consult with Global Director in case they are unclear whether they can use the data from a particular source.
As per the GlobalData copyright guidance, Government Registries/International Statistical Organizations such as OECD, WHO, GLOBOCAN (IARC/WHO), and United Nations needs explicit approval for usage of their data for commercial purpose. Currently for the market models we are using all the mentioned sources, as these sources are freely available through secondary research and data provided by these sources is reliable and authentic. Also, in many cases these sources are referred by clients while providing feedback and by primary participants during the interviews.

8.9	QC Process
8.9.1	QC Process – Models
For A&R and Dental devices in 2018, the team followed multiple level quality checks. Below figure provides an overview of QC process followed in these markets.

The following is the QC Process (Market Modeling Approach) followed:

Figure 80:   QC Process Market Models


 Source: GlobalData

Following are the guidelines for QC process of consolidated model files across all models:
1.	Navigation Page tab - GDRC team
2.	Model Structure tab - GDRC team
3.	Market Summary tab - GDRC team
4.	Market Share tab - GD and GDRC teams
5.	Backend Sheets (hidden in final upload model) – GDRC team
6.	Insights tab – GD team
7.	Market Access tab - GD team
8.	Methodology tab - GD team
9.	Definitions - GD and GDRC teams
10.	Disease background (applicable to only epidemiology based models) - GD and GDRC teams
11.	Countries tab - GD and GDRC teams
12.	About GlobalData - GD and GDRC teams

Following guidelines were followed for the A&R and Dental markets:
8.9.1.1	Navigation Page
The heading icon of navigation page includes model name followed by “Global Market Year XXXX – Year XXXX”. The flow of navigation tab should be same as the sequence of tabs in consolidated model file. All the icons should be hyperlinked with the relative tabs in the file except for “Global Summary”, “39 major markets” and regional level icons.
8.9.1.2	Model Structure
The model structure should follow the model flow.
8.9.1.3	Market Summary
The market summary tab shows region wise graphical representation for Value, Volume and Average Selling Price according to the segments/sub-segments of the model. Graphs should have proper x axis and y axis. Units for value, volume and ASP should be checked. Also data in market summary tab should match with backend MS and model.
8.9.1.4	Market Share
The market share tab contains company shares for all 30 countries in a single sheet. Company shares for 9 benchmarked countries (Argentina, Chile, Czech Republic, Egypt, Greece, Hungary, Saudi Arabia, Turkey and United Arab Emirates) are given ranks. Formulas and links in the tab need to be checked. Sum of all company shares including others should be 100%.
8.9.1.5	Insights
The insights tab contains a brief summary on Market Outlook: Global Trends, Regional Trends and Insights, SWOT Analysis and Competitive Dynamics. The insights tab is finalized by the GD team. Check for the grammatical errors in the sheet. Do spell check using F7 key.
8.9.1.6	Market Access
The market access tab contains information on health care systems, reimbursements and regulatory landscapes for all 39 countries. Market access tab is finalized by the GD team. Do spell check by pressing F7 key.
8.9.1.7	Methodology
The Methodology tab gives brief explanation of the methodology used by GlobalData to build the model. This sheet is finalized by the GD team.
8.9.1.8	Definitions
This tab contains definitions used in the model.
Definitions section should explain the market definition. Market definition primarily includes device usage & its specifications along with its subtypes, if any. Market definition should be precise, specific, and relevant, and should specify the inclusion and exclusion criteria of the product types for that particular model. Definitions should not include too much information on equipment or conditions that are not part of the model. In the case of equipment that has consumables, the consumables need to be defined if they are tracked in the model.
For example, In IVD market, integrated analyzers (Immunochemistry Analyzers model) are tracked under Immunochemistry category. These analyzers utilize a single platform for simultaneous processing of clinical chemistry assays and immunoassays. Hence, these analyzers are tracked only under Immunochemistry category and are not tracked under Clinical Chemistry category. Therefore, it is highly essential to mention the inclusion and exclusion criteria in market definition. The following inclusion criterion is mentioned in Immunochemistry Analyzers model definition. “Integrated analyzers are tracked under immunochemistry category only.”
•	The “Definition” tab should include the definition of the product that is covered in the model.
•	The definition should clearly explain the general description of the product (Device/Test) and what is this product used for.
•	The definition should also explain different components included in the product.
•	The definition should also explain what is covered in the product and what is excluded from the product.
•	 The definition should also explain the unit size - what exactly constitutes a volume unit.
•	The market definition should be precise, specific, and relevant to the model.
•	Ensure text box with the GlobalData copyright at the bottom is displayed –”© 2018 GlobalData. All rights reserved.”
•	Spelling and Grammar should be checked after completion of model for every tab. (By pressing F7 in your key-board).
8.9.1.9	Disease Background
Disease Background section illustrates the type of indications covered under the device usage. It should include appropriate definition of the indication/condition. This section is not applicable for capital equipment based models. For example, In IVD market, where immunochemical tests are done for various indications, it is important to clearly explain what Auto Analyzer and Microplate Reader tests are in particular context. It's important to distinguish that these tests are immunochemical tests, as opposed to general lab analyses.
•	Consistent terminology must be used and synonyms should be avoided
•	In few models, if there are other indications for which the test/product is used, it is important to use “Other Indications” in the disease background.
•	For example, in Thyroid Functions Tests (TFTs) IVD model, apart from Hyperthyroidism and Hypothyroidism, the TFTs are used for other indications. For example: in pregnant ladies, diseases like osteoporosis, atrial fibrillation, etc.
8.9.1.10	Countries

The following are the new color legends followed in the models-


•	Color coding in the models should be according to the legend.
•	All data points related to population and hospital numbers should be centre aligned and to be displayed with thousand separators
•	All the calculated values must be linked with proper formulas.
•	Under market size heading, ASP should be written as “Average Selling Price ($)” and Value should be written as “Value ($m)”
•	Please check for the Y-o-Y growth rates for Market Value, Volume and ASP
•	Use of Common Model Parameters: Common parameters for the models related to incidence / prevalence / procedure numbers / healthcare facilities will be gathered during the market modeling process. This needs to be standardized across all the unique models which have the common parameters
8.9.1.11	Formatting and Naming Structure for Models and Primary Transcripts
The naming of the primary transcript should be done in the below format:
YYMMDD – Company/Hospital Name – Market Name – Category Name – Country (For Eg: 161121 - Nepean Hospital - WCM - PRD - Australia).
The naming of the model should be done in the below format:
Market Name - Model Name - Global - 2015-2028 (For Eg: Cardiovascular Devices - Coronary Stents - Global - 2015-2028)
Key points to remember:
•	Spelling mistakes and spacing issues, grammatical mistakes, non-uniformity in the use of bullets must be avoided
•	Primary transcripts might also include information related to qualitative data on emerging trends, drivers, restraints to support the assumptions and rationale for model numbers
•	Country name and company name should be mentioned correctly
8.9.1.12	About GlobalData
The below text must be there in About GlobalData page.
GlobalData is a leading global provider of business intelligence in the Healthcare industry. GlobalData provides its clients with up-to-date information and analysis on the latest developments in drug research, disease analysis, clinical research, and medical device development. Our integrated business intelligence solutions include a range of interactive online databases, analytical tools, reports, and forecasts. Our analysis is supported by a 24/7 client support, and analyst team. GlobalData has offices in New York, Boston, London, India and Singapore.
Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GlobalData.
The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that GlobalData delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such GlobalData can accept no liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect.
Ensure text box with the GlobalData copyright at the bottom is displayed –”© 2018 GlobalData. All rights reserved.”
8.9.1.13	 Interaction between GDRC and the GD Teams
Weekly update calls with Tyler/Andrew/Beata includes:
•	Production plan review
•	Software/IT issues
•	Any consulting projects
•	Resourcing issues
•	Client queries and feedback
•	Taxonomy issues

8.9.2	QC Process – Base Market Data
The following is the QC Process (Top - Down Approach) followed for Base Market Data:
Figure 81:   QC Process for Base Market Data


 Source: GlobalData

Analysts conduct a thorough QC of the market estimates, upload sheets and display of data on Base Market Data. Associate Analysts assist Analysts in QC of data on the Base Market Data. Following are the QC checks used to upload data on database:
•	The market size (value, volume, average price and distribution share) and company share files for upload is in accordance with the file shared by the software team
•	The data in the market size file should match with the HIS&FOR sheets for value, volume and average prices.
•	The data in the market size and company share files should match with the data on the database after the sheets are uploaded on the database.
•	Database QC involves data display for each of the market categories, segments and sub-segments, checking for currency conversion, historic and forecast CAGR.
As a part of Base Market Data QC, we do discussions with Andrew (GD team) on a regular basis. We share the taxonomy file with Andrew and based on his feedback, the taxonomy is finalized. We also share ‘Update Documents’ for a market in progress with Andrew on a regular basis and place the same in a folder placed on server.
As an example, all ‘Update Documents’ for ENT Market is placed at following location: Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team\MarketDatabase_2017\ENT Devices\Market Database - WIP\Update Document
Also we share files related to primary calls, unique participant details and benchmarking sheets with Andrew for approval before implementing it.
9	Scheduled Project Plan
The annual production and publication planning process is done at the start of every year when the monthly targets for the entire year are set for the team to be achieved with special emphasis given on production and publication dates. Planning for medical equipment markets start date and completion date is done in accordance with management’s vision of the team. Project planning is done by the team management and is presented to the senior management for approval. Upon receiving the senior management approval, the plan is executed by the medical equipment team management.
Production plan lists the number of models to be developed for each market, number of analysts allocated and start date and end date.

Figure 82:   Medical Equipment Markets Project Plan


 Source: GlobalData


10	Reporting and Communication
10.1	Management Reporting
10.1.1	Models Trackers
Models tracker is sent to the medical equipment team’s Director (US Office) and Director in GDRC Office on a weekly basis. Sample model tracker is placed below:

Figure 83:   Medical Equipment team, Weekly Models Tracker


 Source: GlobalData

Model Trackers are stored in the following location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Markets\2018\Work Plan
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Markets\2017\Work Plan
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Markets\2016\Work Plan
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Markets\2015\Work Plan
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\ME_Markets\2014\Work Plan


10.1.2	Weekly Databooks Tracker
A weekly status mail is sent to the Global Medical Director with regard to databooks production in the form a tracker. Snapshots of the weekly databooks tracker are placed below:

Figure 84:   Weekly Databooks Tracker Snapshot 1


 Source: GlobalData

Figure 85:   Weekly Databooks Tracker Snapshot 2


 Source: GlobalData
10.1.3	Project Calls
Project calls are conducted every week between the medical equipment team in GDRC office and the Global Director, Medical Devices to discuss the market models progress, review of the models and the future plans for the upcoming markets. Project calls provide a platform for the medical team management to discuss various concerns related to medical projects, addressing clients’ requests and improving the existing methodology and framework.
10.1.4	 Communication Tracker
Communication tracker stores all the discussions conducted over calls between GD and GDRC teams. The communication tracker provides the minutes of meeting and the concerns discussed between the GD and GDRC teams. The communication tracker includes the discussions between GD team and Market models, Base Market Data. It also includes the feedback passed on by the US or UK counterparts during their visit to India office.
Snapshot of the Communication tracker is placed below:
Figure 86:   Communication Tracker


 Source: GlobalData
Location: - Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Communication Tracker
10.1.5	 Monthly Pack
Monthly Pack stores the information about the production details planned and achieved for the current ongoing market. The data in the tracker is reflected in three colors:-
Green	Green >= Target
Amber	Amber:  below target
Red	Red: below target and deteriorating



















Figure 87:   RAG Tracker


 Source: GlobalData
Location: - Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Monthly Pack\RAG

10.2	Verdict
Verdict is the publication of creative content, news, comment, and analysis for the global business community. Content can be published either on CommentWires (opinion oriented articles) or ResearchWires (insight oriented articles). From January 2017, GDRC team has worked on 20 articles and it is published on the Verdict site. (http://www.verdict.co.uk/this-is-verdict/)
Below is the snapshot of the article published on Verdict site.
Figure 88:   Verdict


 Source: GlobalData

11	Archiving
The medical equipment team files are stored in the below 2 locations:
ME_Admin – This folder contains files related to project admin and market model files with trackers and completed markets and databooks files. Access to this folder is limited to medical team members who are at level of QC Lead and above. This process ensures all team members do not have access to all the market files. This is done to safeguard the company data from being stolen.
ME_Team – This folder contain files related to the ongoing medical team projects such as markets update on Base Market Data, Medtrics Analysis Tool and Databooks. This folder can be accessed by all the team members since this folder contains files related to the ongoing medical team projects.

11.1	Market Models
The file structure is designed to mirror the actual steps taken to complete models for each country. The current market models and files related to market updates are stored at the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team\Market Models 2017

Files related to completed market models prior to 2015, 2016 and 2017 are available in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Market Models

Orthopedic Devices, Diagnostic Imaging and Cardiovascular Devices market models which have been completed according to the 2013 production plan are available in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Market Models\Market Models 2013

General Surgery, Wound Care Management and In Vitro Diagnostics (Immunochemistry category only) market models which have been completed according to the 2014 production plan are available in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Admin\Market Models\Market Models 2014

Orthopedic Devices and Cardiovascular Devices market models updates completed in 2015 are available in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team \Market Models 2015\Orthopedic Devices
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team \Market Models 2015\Cardiovascular Devices

Market Models 2013, 2014, 2015, 2016 and 2017 folders contain sub-folders with the market names for which the models are developed or to be developed. Each folder with market name will have following 5 folders:
•	CSA
•	Files for Upload
•	Final Models
•	Market Database - WIP
•	Taxonomy & Definitions



CSA: Calculation sheets related to company share analysis are placed in this folder. This folder also contains files related to primary and secondary sources, analysis sheet by company, methodology sheet by category and list of companies.
Files for Upload: Once the market is completed, Files for Upload are generated for each country. All the market models, procedure files, company share and distribution share files ready to be uploaded are stored in this folder.
Final Models: This folder contains all the unique models for each market. Separate folders are maintained for each and every market model. Each market model folder has four sub folders - Feedback, Sources, QC Check List and Market Sheets.
1.	Feedback folder contains all the documents related to the reviews conducted by the GD team and the response sent by GDRC team. We do not have feedback documents for the 2017 Cardiovascular and Orthopedic market update as the models are closed by the GD team.
2.	Sources folder contains all the primary and secondary sources relevant to the market model.
3.	QC Check List folder stores market model QC sheets for the countries covered.
4.	Market Sheets folder has four sub-folders: Calculation Sheets, Closed and Signed Off, Review Ongoing and Sent for Review.
•	Calculation Sheets folder stores all the data files and calculation sheets used for building each market model. Separate sheets exist for each market model.
•	Closed and Signed Off folder stores all the market models approved and signed off by the GD team. In DI and GS, the “Closed and Signed Off” has the two folders, “To Upload” and “Without Round Off”.
•	Review Ongoing folder stores all the market model files that are currently under the review of the GD team.
•	Sent for Review folder stores all the market model files that are sent by GDRC team to the GD team for review.

Market Database - WIP: Market mapping sheets, common parameter sheets, metrics, national registries, PMR call status tracker, model flows and questionnaires are placed in this folder.
Taxonomy & Definitions: This folder stores market taxonomy and definitions

11.2	Base Market Data Updates
Files related to the Base Market Data updates based on supply side calls are stored in the below location for the markets updated in the year 2018:
 Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\MarketDatabase_2018
Each market contains the following 5 folders:
•	CSA
•	Files for Upload
•	Market Database - WIP
•	Sources
•	Taxonomy and Definitions
CSA: Calculation sheets related to company share analysis are placed in this folder.
Files for Upload: Once the market is complete, ‘Files for Upload’ are generated. All the files ready to be uploaded are stored in this folder.
Market Database - WIP: This folder contains Historic and Forecast market files, primary market research trackers, update documents and benchmarking files.
Sources: This folder contains all the primary and secondary sources relevant to the market. This folder contains folder for each country and within each country there are 2 sub-folders to store primary and secondary research files.
Taxonomy & Definitions: This folder stores market taxonomy and definitions.
11.3	Databooks
Databooks published in 2018 are stored in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_Team\Databooks 2018
Databooks published in 2017 are stored in the below location:
               Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team\Databooks 2017
Databooks published in 2016 are stored in the below location:
Y:\Projects\MEHC\DMV_Medical_Equipment\ME_team \Databooks 2016

Databooks published in 2014 and 2015 are archived to save team memory space
Databooks contains folders for each of the markets the databooks are produced. Each market databook folder contains Final Databooks folder. Final Databooks folder will have the following 5 folders:
•	Authoring Completed
•	Files For Upload
•	QC Completed
•	Published
•	Trackers
•	Sample Pages

Authoring Completed, QC Completed and Published folder will have following 3 folders:
•	By Category by Country
•	By Category by Region
•	By Market by Country
•	All the above 3 folders have 2 more sub-folders:
•	XXX Devices
•	XXX Procedures
XXX refers to the name of the market. Note that for some markets such as Diagnostic Imaging we do not have ‘Procedures’ folder. In the Trackers folder, databooks production tracker related to the market is stored.


12	Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the publisher, GlobalData.
The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that GlobalData delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such, GlobalData can accept no liability whatsoever for actions taken based on any information that may subsequently prove to be incorrect.