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医療機器市場における投資および買収:2011年

Investment and Acquisitions Trends in Medical Equipment Market 2011

発行 GBI Research 商品コード 172294
出版日 ページ情報 英文 70 Pages
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医療機器市場における投資および買収:2011年 Investment and Acquisitions Trends in Medical Equipment Market 2011
出版日: 2011年03月01日 ページ情報: 英文 70 Pages
概要

医療機器市場は成長目覚しく、絶え間ない技術革新によって発展が促されています。米国、EU、日本が3大市場であり、体外診断装置、整形外科、心臓科関連医療機器の分野では、成長を見込んでポートフォリオの多様化を目的に大手企業が買収を行なっています。2006〜2009年に行なわれた合併・買収の大半が契約金額2,500万米ドル未満だったことから、医療機器業界は非常に細分化されており、新規技術革新のニーズは巨大であることがわかります。

当レポートでは、医療機器業界におけるM&A動向について分析し、大手各社の買収金額、分野別M&A動向などをまとめ、概略以下の構成でお届けします。

第1章 目次

第2章 イントロダクション

第3章 形態別M&A取引

  • 医療機器市場:世界の財務取引

第4章 2006〜2009年の金額別M&A

  • 合併および買収

第5章 地域別M&A

第6章 競合評価

  • M&Aの機会とリスク評価
  • 概要

第7章 2010年のM&A取引

  • NovartisがNestleからAlconの追加株式52%の買収を完了
  • MerckによるMilliporeの買収完了
  • Coidienがev3の買収を26億米ドルで完了
  • St. Jude MedicalがAGA medical Holdingsを13億米ドルで買収
  • MedtronicがInvatecと関連企業の買収を完了
  • St. Jude MedicalがLight Lab Imagingの買収を完了

第8章 主要5市場におけるM&A

  • 体外診断装置
  • 整形外科
  • 心血管
  • 眼科
  • ドラッグデリバリー装置

第9章 付録

目次
Product Code: GBIME0023MR

GBI Research’s report, “Investment and Acquisitions Trends in Medical Equipment Market 2011”, provides key data, information and deals analysis that took place from 2006-2009 in the global medical equipment market. The report provides key data on M&A deals by type, M&A deals by value range and M&A by geography in the medical equipment market. The report provides in-depth analysis on the M&A in the top five medical equipment categories - In Vitro Diagnostics, Cardiovascular Devices, Orthopedic Devices, Ophthalmic Devices and Drug Delivery Devices, and market drivers for these categories. The report also mentions M&A key deals in 2010 with detailed analysis. The report analyzes Mergers and Acquisition opportunities and risk evaluation for the top five medical equipment categories. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The Majority of Mergers and Acquisitions That Took Place from 2006 to 2009 were of a Deal Value Less than $25m

The medical equipment market offers strong growth prospects and is highly regulated and driven by constant technological innovation. The three largest markets for medical equipment are the US, the EU and Japan. The majority of mergers and acquisitions that took place from 2006-2009 were of a deal value less than $25m. Big companies operating in the fields of in vitro diagnostics, orthopedics and cardiology are looking for acquisitions to enhance their growth prospects and diversify their portfolio. More than 74% of the deals were less than $25m in size from 2006 to 2009, indicating that the medical equipment industry is highly fragmented and the need for new technological innovation is huge. The potential exit value of various start-up firms is less than $25m. The market is highly fragmented, with many small players with annual revenue less than $5m. Small innovative firms are associated with developing new medical technology products. Most of these organizations specialize in only one technology and much redundancy exists between companies. Start-up firms in medical equipment companies are groomed by investors, so that they can be acquired by larger companies. Small firms, after receiving US FDA marketing approval for their products, are targeted for acquisition by large medical equipment companies. There exists an advantage for both small and large firms. Small firms benefit from added resources, while large firms gain from advanced technologies. Therefore all these factors and the fiscal pressure of staying afloat are compelling many smaller firms to merge with larger ones.

Mergers and Acquisitions, Global, by Deal Value, 2006-2009

Source: GBI Research, Internal Database

Pharmaceutical Companies are Diversifying Their Portfolio by Acquiring Medical Equipment Companies

Currently, pharmaceutical companies are diversifying their portfolios by acquiring medical equipment companies. Although pharmaceutical companies have been generating huge revenues, intense competition is seen in the pharmaceutical industry due to patent expiries and rising R&D costs. Pharmaceutical companies in the US and Europe are experiencing increasingly aggressive patent litigation, shortening the time of patent protection and accelerating the entry of generic versions. Even legislators are in favor of this approach, considering generics as a means to reduce the budgets for drug therapies. Therefore, pharmaceutical companies are diversifying into medical equipment companies, and the industry has witnessed mega deals. The pharmaceutical companies are trying to diversify their portfolios in high profit sectors by acquiring medical equipment companies. Moreover, medical equipment products have shorter product development time, which provides opportunity for pharmaceutical companies trying to cope with the pressures of declining bottom lines.

Acquisition of Medical Equipment Companies by Pharmaceutical Companies

Source: GBI Research, Company Website

The most significant deal was the acquisition of Alcon by Novartis in 2010, for a purchase consideration of approximately $28.1 billion. The acquisition has strengthened Novartis’ presence in the growing eye care sector market. The eye care sector provides a strong growth platform to Novartis, with excellent fit for their focused healthcare portfolio. Novartis has a huge opportunity for growth as 65 million people worldwide are suffering from glaucoma, and 22 million people are suffering from age-related macular degeneration. This provides huge opportunity for Novartis in the growing eye care sector. In 2009, Abbott acquired Advanced Medical Optics (AMO) for $2.8 billion to add ophthalmic device products to its existing pharmaceutical and diagnostics portfolio.

In Vitro Diagnostic Companies Consolidating their Immuno-Chemistry Portfolio

Immuno-Chemistry Devices Market, Global Revenue ($bn), 2009-2016

Source: GBI Research, Internal Database

The immuno-chemistry devices market is one of the largest segments in the in vitro diagnostic devices market, and major companies have begun concentrating on this market. The immuno-chemistry devices market was estimated to be worth $13.9 billion in 2009 and is expected to grow at a rate of 5.8% annually. The market for treating major infectious diseases such as oncology, cardiovascular testing, HIV and the hepatitis B and C viruses (HBV and HCV) is being driven by the technological advancements in tissue staining and biopsy in cancer detection. Pharmacogenomics and the need for personalized testing to determine drug response will also drive the immuno-chemistry market in the future. There is high potential for profitability in this market, leading to M&As such as Siemens Medical acquiring Dade Behring for a purchase consideration of approximately $7 billion, to expand its product base in the immuno-chemistry segment as well as creating the first integrated diagnostic company. Inverness Medical Innovations acquired Standard Diagnostics for $205m, to enhance its immuno-chemistry devices portfolio and expand its product portfolio into rapid test kits, urine analyzing systems, enzyme-linked immunosorbent assay (ELISA) kits and medicine materials. The rapid test kits are found to be useful in various infectious diseases, such as sexually transmitted diseases, dengue fever, blood borne diseases, respiratory diseases and febrile diseases. Also, these rapid test kits are used for the diseases associated with fertility hormones, cancer markers, drug abuse and forensic tests.

The US is the Biggest Market for Mergers and Acquisitions in Medical Equipment in 2009

The US is one of the biggest markets for Mergers and Acquisitions (M&A) in medical equipment. In the last four year period from 2006-2009, the targets in medical equipment mergers and acquisitions were concentrated heavily in the US, Canada, Europe and Asia-Pacific. The US is the most attractive venue for M&A in the global medical equipment industry due to higher concentration of companies with key products and technologies in development stage. Ongoing cost containment pressures, the need to stay on the cutting edge of technology, and the need for market diversification are expected to further strengthen the ongoing consolidation in the market. In 2010, the deals that took place were Boston Scientific completing acquisition of Asthmatx, Cardinal Health acquiring Carefusion, Royal Philips Electronics acquiring Burton Medical Products, Medtronic completing acquisition of Osteotech, Johnson & Johnson completing acquisition of Micrus Endovascular, and Covidien completing acquisition of ev3.

Investment and Acquisitions Trends in Medical Equipment Market 2011

Summary

GBI Research’s new report, “Investment and Acquisitions Trends in Medical Equipment Market 2011” provides key data, information and analysis on the investments, mergers and acquistions taking place in the Medical Equipment industry. The report provides information on the current trends in investment and acquiistion affecting the medical equipment industry. The report also includes affects on the market, competiton and market information due to the major mergers and acquisitions in the global medical equipment industry.The report provides comprehensive information on the target as well as information on the acquiring companies.This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

Scope

• Key geographies covered include the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia, and Brazil.
• Qualitative analysis of key market trends, major mergers and acquisitions that have taken place and their affect on competition.
• The report also covers information on the leading market players and competitive landscape.

Reasons to buy

• Develop business strategies by understanding the trends and developments that are driving the Investment and Acquisition Trends in Medical Equipment.
• Design and develop your product development, marketing and sales strategies.
• Exploit M&A opportunities by identifying market players with the most innovative pipeline.
• Develop market-entry and market expansion strategies.
• Identify key players best positioned to take advantage of the emerging market opportunities.
• Exploit in-licensing and out-licensing opportunities by identifying products, most likely to ensure a robust return.
• What’s the next being thing in the Investment and Acquisition Trends in Medical Equipment? - Identify, understand and capitalize.
• Make more informed business decisions from the insightful and in-depth analysis of the Investment and Acquisition Trends in Medical Equipment and the factors shaping it.

Table of Contents

1. Table of Contents

  • 1.1. List of Tables
  • 1.2. List of Figures

2. Introduction

  • 2.1. GBI Research Report Guidance

3. M&A Deals by Type

  • 3.1. Medical Equipment Market, Global Financial Deals

4. M&A Deals by Value Range, 2006-2009

  • 4.1. Mergers and Acquisitions

5. M&A Deals by Geography

6. Global Medical Equipment Market: Competitive Assessment

  • 6.1. Medical Equipment, M&A Opportunities and Risk Evaluation
  • 6.2. Key Takeaway

7. M&A Key Deals in 2010

  • 7.1. Novartis Completes Acquisition of Additional 52% Stake in Alcon from Nestle
    • 7.1.1. Overview
    • 7.1.2. Deal Rationale
    • 7.1.3. Deal Analysis
    • 7.1.4. Company Profile
  • 7.2. Merck Completes the Acquisition of Millipore
    • 7.2.1. Overview
    • 7.2.2. Deal Rationale
    • 7.2.3. Deal Analysis
    • 7.2.4. Company Profile
  • 7.3. Covidien Completes Acquisition of ev3 for $2.6 Billion
    • 7.3.1. Overview
    • 7.3.2. Deal Rationale
    • 7.3.3. Deal Analysis
    • 7.3.4. Company Profile
  • 7.4. St. Jude Medical Acquires AGA Medical Holdings for $1.3 Billion
    • 7.4.1. Overview
    • 7.4.2. Deal Rationale
    • 7.4.3. Deal Analysis
    • 7.4.4. Company Profile
  • 7.5. Medtronic Completes Acquisition of Invatec and Affiliated Companies
    • 7.5.1. Overview
    • 7.5.2. Deal Rationale
    • 7.5.3. Deal Analysis
    • 7.5.4. Company Profile
  • 7.6. St. Jude Medical Completes Acquisition of Light Lab Imaging
    • 7.6.1. Overview
    • 7.6.2. Deal Rationale
    • 7.6.3. Deal Analysis
    • 7.6.4. Company Profile

8. Mergers and Acquisitions in Top Five Markets

  • 8.1. In Vitro Diagnosis
  • 8.2. Siemens Medical Acquires Dade Behring
    • 8.2.1. Overview
    • 8.2.2. Deal Rationale
    • 8.2.3. Deal Analysis
    • 8.2.4. Company Profile
  • 8.3. Roche Acquires Ventana Medical Systems
    • 8.3.1. Overview
    • 8.3.2. Deal Rationale
    • 8.3.3. Deal Analysis
    • 8.3.4. Company Profile
  • 8.4. Siemens Medical Acquires Diagnostic Products Corporation
    • 8.4.1. Overview
    • 8.4.2. Deal Rationale
    • 8.4.3. Deal Analysis
    • 8.4.4. Company Profile
  • 8.5. Inverness Medical Acquires Biosite
    • 8.5.1. Overview
    • 8.5.2. Deal Rationale
    • 8.5.3. Deal Analysis
    • 8.5.4. Company Profile
  • 8.6. Orthopedic
  • 8.7. Medtronic Acquires Kyphon
    • 8.7.1. Overview
    • 8.7.2. Deal Rationale
    • 8.7.3. Deal Analysis
    • 8.7.4. Company Profile
  • 8.8. Reable Therapeutics Acquires DJO
    • 8.8.1. Overview
    • 8.8.2. Deal Rationale
    • 8.8.3. Deal Analysis
    • 8.8.4. Company Profile
  • 8.9. Smith & Nephew Acquires Plus Orthopedics Holding
    • 8.9.1. Overview
    • 8.9.2. Deal Rationale
    • 8.9.3. Deal Analysis
    • 8.9.4. Company Profile
  • 8.10. Zimmer Holdings Acquired Abbott Spine from Abbott Laboratories
    • 8.10.1. Overview
    • 8.10.2. Deal Rationale
    • 8.10.3. Deal Analysis
    • 8.10.4. Company Profile
  • 8.11. Cardiovascular
    • 8.11.1. Market Drivers
  • 8.12. Boston Scientific Acquires Guidant
    • 8.12.1. Overview
    • 8.12.2. Deal Rationale
    • 8.12.3. Deal Analysis
    • 8.12.4. Company Profile
  • 8.13. Teleflex Acquires Arrow International
    • 8.13.1. Overview
    • 8.13.2. Deal Rationale
    • 8.13.3. Deal Analysis
    • 8.13.4. Company Profile
  • 8.14. Cardinal Health Acquires VIASYS Healthcare
    • 8.14.1. Overview
    • 8.14.2. Deal Rationale
    • 8.14.3. Deal Analysis
    • 8.14.4. Company Profile
  • 8.15. Ophthalmic
    • 8.15.1. Market Drivers
  • 8.16. Abbott Laboratories Acquires Advanced Medical Optics
    • 8.16.1. Overview
    • 8.16.2. Deal Rationale
    • 8.16.3. Deal Analysis
    • 8.16.4. Company Profile
  • 8.17. Luxottica Group Acquires Oakley
    • 8.17.1. Overview
    • 8.17.2. Deal Rationale
    • 8.17.3. Deals Analysis
    • 8.17.4. Company Profile
  • 8.18. Advanced Medical Optics Acquires Intralase
    • 8.18.1. Overview
    • 8.18.2. Deal Rationale
    • 8.18.3. Deal Analysis
    • 8.18.4. Company Profile
  • 8.19. Drug Delivery Devices
    • 8.19.1. Market Drivers
  • 8.20. Hisamitsu Pharmaceutical Completes Acquisition of Noven Pharmaceuticals
    • 8.20.1. Overview
    • 8.20.2. Deal Rationale
    • 8.20.3. Deals Analysis
    • 8.20.4. Company Profile
  • 8.21. Kimberly-Clark Completes Acquisition of I-Flow
    • 8.21.1. Overview
    • 8.21.2. Deal Rationale
    • 8.21.3. Deal Analysis
    • 8.21.4. Company Profile
  • 8.22. Surmodics Acquires Brookwood Pharmaceuticals
    • 8.22.1. Overview
    • 8.22.2. Deal Rationale
    • 8.22.3. Deal Analysis
    • 8.22.4. Company Profile

9. Mergers and Acquisitions Trends in the Medical Equipment Market 2011- Appendix

  • 9.1. Sources
  • 9.2. Acronyms
  • 9.3. Research Methodology
    • 9.3.1. Secondary Research
    • 9.3.2. Primary Research
    • 9.3.3. Models
    • 9.3.4. Forecasts
    • 9.3.5. Expert Panels
  • 9.4. Contact Us
  • 9.5. Disclaimer

List of Tables

  • Table 1: Mergers & Acquisitions, Global, Number of Deals by Value Range, 2006-2009
  • Table 2: Mergers & Acquisitions, Global, Deals by Geography, 2006-2009
  • Table 3: Cataract Surgery Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 4: Peripheral Vascular Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 5: AGA Medical Holdings Pipeline Products
  • Table 6: IVD Market, Global, Revenue ($bn), 2009-2016
  • Table 7: Orthopedic Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 8: Spinal Surgery Market, Global, Revenue ($bn), 2009-2016
  • Table 9: Spinal Surgery Market, Global, Revenue ($bn), 2009-2016
  • Table 10: Global Cardiovascular Devices Market, Revenue ($bn), 2009-2016
  • Table 11: Interventional Cardiology Market, Global, Key Company Revenues ($m), 2009
  • Table 12: Ophthalmic Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 13: Ophthalmic Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 14: Drug Delivery Devices Market, Global, Revenue ($bn), 2009-2016
  • Table 15: Infusion Systems Market, Global, Revenue ($bn), 2009-2016

List of Figures

  • Figure 1: Financial Deals, Global, Number of Deals by Type, 2006-2009
  • Figure 2: Mergers & Acquisitions, Global, Number of Deals by Value Range, 2006-2009
  • Figure 3: Medical Equipment, M&A Opportunities and Risk Evaluation, Global, by Category
  • Figure 4: Cataract Surgery Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 5: Peripheral Vascular Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 6: IVD Market, Global, Revenue ($bn), 2009-2016
  • Figure 7: In Vitro Diagnostics Market, Global, Pipeline Products Summary, 2010
  • Figure 8: Orthopedic Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 9: Orthopedic Devices Market, Global, Pipeline Products Summary, 2010
  • Figure 10: Spinal Surgery Market, Global, Revenue ($bn), 2009-2016
  • Figure 11: Spinal Surgery Market, Global, Revenue ($bn), 2009-2016
  • Figure 12: Global Cardiovascular Devices Market, Revenue ($bn), 2009-2016
  • Figure 13: Cardiovascular Devices, Global, Number of Pipeline Products, 2010
  • Figure 14: Interventional Cardiology Market, Global, Key Company Share (%), 2009
  • Figure 15: Acquisition of Arrow International Transforms Teleflex's Product Portfolio
  • Figure 16: Ophthalmic Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 17: Ophthalmic Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 18: Drug Delivery Devices Market, Global, Revenue ($bn), 2009-2016
  • Figure 19: Infusion Systems Market, Global, Revenue ($bn), 2009-2016
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