Adult Medical Imaging Market Drivers, Opportunities, Trends, and Forecasts by 2031

Coverage: Adult Medical Imaging Market covers analysis ByType (X-Ray Devices, Ultrasound Devices, MRI, CT, and Other); End Use (Hospitals, Diagnostic Centers, and Other), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00022287
  • Category : Life Sciences
  • No. of Pages : 150
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Adult Medical Imaging Market Growth Report 2021 to 2031

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The Adult Medical Imaging Market is expected to register a CAGR of 5.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by Type (X-Ray Devices, Ultrasound Devices, MRI, CT, and Other). The report further presents analysis based on the End Use (Hospitals, Diagnostic Centers, and Other). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Adult Medical Imaging Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Adult Medical Imaging Market Segmentation

Type
  • X-Ray Devices
  • Ultrasound Devices
  • MRI
  • CT
  • Other
End Use
  • Hospitals
  • Diagnostic Centers
  • Other

Strategic Insights

Adult Medical Imaging Market Growth Drivers
  • Population Aging: A very key motivator in the adult market for medical imaging worldwide is the aging of the global population. As persons get older, the chances of getting chronic and often fatal conditions increase also such as cancer and cardiovascular diseases, along with neurodegenerative diseases. In turn, this will increase the requirement for diagnostic imaging services. Older adults are most dependent on medical imaging to detect medical conditions early on, monitor progression in the condition and identify the most suitable treatments. With the increasing global population aged over 65, it is sure that there will be growing demand for medical imaging in the adult population.
  • Technological Developments: Continuous technological advancement in the imaging technology is another influence on the adult medical imaging which markets these services. Imaging modalities today involved in the 3D imaging, functional MRI, and hybrid imaging systems such as PET images/CT are more accurate, detailed, and non-invasive in diagnosis than their predecessors. These advancements in the field let the users discover as early in the field and provide and obtain better results in patients. Incorporating artificial intelligence and machine learning in medical imaging is further elevating the speed of imaging services and bringing a whole new dimension to accuracy in diagnosis and raising market growth.
  • Increase in chronic disease incidences: Chronic diseases that are related to the heart, lungs, and nervous system are becoming common owing to change in lifestyle, poor diet, and lack of physical activity, which have increased the demand for medical imagery services to diagnose such conditions. Examples of diseases that need imaging for treatment and management planning are cardiovascular disease, diabetes, and cancer.
Adult Medical Imaging Market Future Trends
  • Advancements in Artificial Intelligence: The influence of AI and machine learning on maintaining the adult medical imaging market is entirely different here. These AI tools will help radiologists not only in interpreting complex images but also in finding patterns and predicting possible conditions even before they become clinically significant. Sophisticated AI algorithms not only improve the speed and accuracy now but are also cutting down the perceived inconsistencies in diagnosis and early interventions to avoid or minimize misdiagnosis. The trend will be maintained by continuing healthcare professionals in identifying solutions to manage ever-increasing imaging volumes to the benefit of patient care.
  • Minimally Invasive Imaging Techniques: Minimally invasive imaging techniques are the emerging trend that would reduce surgery and invasive procedures. Examples of these technologies have been internalizing organs with better imaging techniques without actually visualizing them through open surgery: endoscopic ultrasound, MRI-guided biopsies, and CT angiography. Such techniques are likelier to be associated with fewer complications, shorter recovery spans, and increasingly regarded for diagnostic investigations for conditions such as cancer, cardiovascular disease, and even neurological disorders.
  • Individualized Imaging and Accurate Medicine: Personalized medicine in a particular way also has a bearing on the adult medical imaging market. This area of medicine focuses individualized imaging protocols for particular conditions in relation to a patient's genetics and medical history. Precision medicine directly relates to this, as it intends to treat persons according to their biological and genetic makeup. Individualized imaging will help clinicians choose the best imaging modality for more accurate diagnosis while facilitating better treatment plan personalization.
Adult Medical Imaging Market Opportunities
  • Collaboration between Imaging and Telemedicine: The pandemic catalyzed a puncture in telemedicine's advancement, and it continues to radiate forward, toward greater application. The incorporation of telehealth platforms into medical imaging services enables the diagnosis and consultation without the need for personal intervention with the health facility. Instead of going to a healthcare facility, the patient has the ability to get diagnosed from images. The integration simplifies and provides care access to residents living in poor rural locations. The developed companies are going to compete on telemedicine integration.
  • Advancements in AI and Automation: The advancement of technologies like AI and automation would evince more opportunities and further growth in medical imaging. These enable new fast and more accurate diagnostic methods that can be made available at lower costs. New, fast, automated imaging techniques capable of analyzing massive amounts of data quickly and accurately would greatly enhance efficiency within healthcare systems, rendering them more cost-effective and scalable.
  • Increased Government Support for Regulations and Reimbursement: Governments around the world have been making increasing inroads into defining the contributions of medical imaging in improving healthcare outcomes so that policies and arrangements for reimbursement benefit the areas. The increase in imaging reimbursements, especially from different parts of the world, including the United States and Europe, continues to influence the adoption rate. In addition, the regulatory authorities have worked toward easing the approval of new imaging technologies, thus creating a good environment for innovations and market expansion.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Adult Medical Imaging Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Adult Medical Imaging Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


Which are some of the players operating in the Adult Medical Imaging market?

Players operating in the market are Siemens, GE Healthcare, Philips Healthcare, Canon Medical Systems, Hitachi Medical, Fujifilm, Carestream, Konica Minolta, Shimadzu, Hologic

Which segment accounts for highest revenue by type in 2023?

X-ray Devices segment, by type, dominated the market in 2023.

Which region dominated the Adult Medical Imaging market in 2023?

North America region dominated the Adult Medical Imaging market in 2023.

What are the factor that act as a opportunity for market growth?

Collaboration between Imaging and Telemedicine act as a opportunity for growth of the market in forecast period.

What is the expected CAGR of the Adult Medical Imaging Market?

The Adult Medical Imaging Market is estimated to witness a CAGR of 5.8% from 2023 to 2031

What are the driving factors impacting the Adult Medical Imaging market?

The major factors driving the Adult Medical Imaging market are:

1. Population Aging

2. Increase in chronic disease incidences

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Adult Medical Imaging Market - By Type
1.3.2 Adult Medical Imaging Market - By End Use
1.3.3 Adult Medical Imaging Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ADULT MEDICAL IMAGING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ADULT MEDICAL IMAGING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ADULT MEDICAL IMAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. ADULT MEDICAL IMAGING - GLOBAL MARKET OVERVIEW
6.2. ADULT MEDICAL IMAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ADULT MEDICAL IMAGING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. X-RAY DEVICES
7.3.1. Overview
7.3.2. X-Ray Devices Market Forecast and Analysis
7.4. ULTRASOUND DEVICES
7.4.1. Overview
7.4.2. Ultrasound Devices Market Forecast and Analysis
7.5. MRI
7.5.1. Overview
7.5.2. MRI Market Forecast and Analysis
7.6. CT
7.6.1. Overview
7.6.2. CT Market Forecast and Analysis
7.7. OTHER
7.7.1. Overview
7.7.2. Other Market Forecast and Analysis
8. ADULT MEDICAL IMAGING MARKET - REVENUE AND FORECASTS TO 2028 - END USE
8.1. OVERVIEW
8.2. END USE MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. DIAGNOSTIC CENTERS
8.4.1. Overview
8.4.2. Diagnostic Centers Market Forecast and Analysis
8.5. OTHER
8.5.1. Overview
8.5.2. Other Market Forecast and Analysis
9. ADULT MEDICAL IMAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Adult Medical Imaging Market Overview
9.1.2 North America Adult Medical Imaging Market Forecasts and Analysis
9.1.3 North America Adult Medical Imaging Market Forecasts and Analysis - By Type
9.1.4 North America Adult Medical Imaging Market Forecasts and Analysis - By End Use
9.1.5 North America Adult Medical Imaging Market Forecasts and Analysis - By Countries
9.1.5.1 United States Adult Medical Imaging Market
9.1.5.1.1 United States Adult Medical Imaging Market by Type
9.1.5.1.2 United States Adult Medical Imaging Market by End Use
9.1.5.2 Canada Adult Medical Imaging Market
9.1.5.2.1 Canada Adult Medical Imaging Market by Type
9.1.5.2.2 Canada Adult Medical Imaging Market by End Use
9.1.5.3 Mexico Adult Medical Imaging Market
9.1.5.3.1 Mexico Adult Medical Imaging Market by Type
9.1.5.3.2 Mexico Adult Medical Imaging Market by End Use
9.2. EUROPE
9.2.1 Europe Adult Medical Imaging Market Overview
9.2.2 Europe Adult Medical Imaging Market Forecasts and Analysis
9.2.3 Europe Adult Medical Imaging Market Forecasts and Analysis - By Type
9.2.4 Europe Adult Medical Imaging Market Forecasts and Analysis - By End Use
9.2.5 Europe Adult Medical Imaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Adult Medical Imaging Market
9.2.5.1.1 Germany Adult Medical Imaging Market by Type
9.2.5.1.2 Germany Adult Medical Imaging Market by End Use
9.2.5.2 France Adult Medical Imaging Market
9.2.5.2.1 France Adult Medical Imaging Market by Type
9.2.5.2.2 France Adult Medical Imaging Market by End Use
9.2.5.3 Italy Adult Medical Imaging Market
9.2.5.3.1 Italy Adult Medical Imaging Market by Type
9.2.5.3.2 Italy Adult Medical Imaging Market by End Use
9.2.5.4 Spain Adult Medical Imaging Market
9.2.5.4.1 Spain Adult Medical Imaging Market by Type
9.2.5.4.2 Spain Adult Medical Imaging Market by End Use
9.2.5.5 United Kingdom Adult Medical Imaging Market
9.2.5.5.1 United Kingdom Adult Medical Imaging Market by Type
9.2.5.5.2 United Kingdom Adult Medical Imaging Market by End Use
9.2.5.6 Rest of Europe Adult Medical Imaging Market
9.2.5.6.1 Rest of Europe Adult Medical Imaging Market by Type
9.2.5.6.2 Rest of Europe Adult Medical Imaging Market by End Use
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Adult Medical Imaging Market Overview
9.3.2 Asia-Pacific Adult Medical Imaging Market Forecasts and Analysis
9.3.3 Asia-Pacific Adult Medical Imaging Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Adult Medical Imaging Market Forecasts and Analysis - By End Use
9.3.5 Asia-Pacific Adult Medical Imaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Adult Medical Imaging Market
9.3.5.1.1 Australia Adult Medical Imaging Market by Type
9.3.5.1.2 Australia Adult Medical Imaging Market by End Use
9.3.5.2 China Adult Medical Imaging Market
9.3.5.2.1 China Adult Medical Imaging Market by Type
9.3.5.2.2 China Adult Medical Imaging Market by End Use
9.3.5.3 India Adult Medical Imaging Market
9.3.5.3.1 India Adult Medical Imaging Market by Type
9.3.5.3.2 India Adult Medical Imaging Market by End Use
9.3.5.4 Japan Adult Medical Imaging Market
9.3.5.4.1 Japan Adult Medical Imaging Market by Type
9.3.5.4.2 Japan Adult Medical Imaging Market by End Use
9.3.5.5 South Korea Adult Medical Imaging Market
9.3.5.5.1 South Korea Adult Medical Imaging Market by Type
9.3.5.5.2 South Korea Adult Medical Imaging Market by End Use
9.3.5.6 Rest of Asia-Pacific Adult Medical Imaging Market
9.3.5.6.1 Rest of Asia-Pacific Adult Medical Imaging Market by Type
9.3.5.6.2 Rest of Asia-Pacific Adult Medical Imaging Market by End Use
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Adult Medical Imaging Market Overview
9.4.2 Middle East and Africa Adult Medical Imaging Market Forecasts and Analysis
9.4.3 Middle East and Africa Adult Medical Imaging Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Adult Medical Imaging Market Forecasts and Analysis - By End Use
9.4.5 Middle East and Africa Adult Medical Imaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Adult Medical Imaging Market
9.4.5.1.1 South Africa Adult Medical Imaging Market by Type
9.4.5.1.2 South Africa Adult Medical Imaging Market by End Use
9.4.5.2 Saudi Arabia Adult Medical Imaging Market
9.4.5.2.1 Saudi Arabia Adult Medical Imaging Market by Type
9.4.5.2.2 Saudi Arabia Adult Medical Imaging Market by End Use
9.4.5.3 U.A.E Adult Medical Imaging Market
9.4.5.3.1 U.A.E Adult Medical Imaging Market by Type
9.4.5.3.2 U.A.E Adult Medical Imaging Market by End Use
9.4.5.4 Rest of Middle East and Africa Adult Medical Imaging Market
9.4.5.4.1 Rest of Middle East and Africa Adult Medical Imaging Market by Type
9.4.5.4.2 Rest of Middle East and Africa Adult Medical Imaging Market by End Use
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Adult Medical Imaging Market Overview
9.5.2 South and Central America Adult Medical Imaging Market Forecasts and Analysis
9.5.3 South and Central America Adult Medical Imaging Market Forecasts and Analysis - By Type
9.5.4 South and Central America Adult Medical Imaging Market Forecasts and Analysis - By End Use
9.5.5 South and Central America Adult Medical Imaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Adult Medical Imaging Market
9.5.5.1.1 Brazil Adult Medical Imaging Market by Type
9.5.5.1.2 Brazil Adult Medical Imaging Market by End Use
9.5.5.2 Argentina Adult Medical Imaging Market
9.5.5.2.1 Argentina Adult Medical Imaging Market by Type
9.5.5.2.2 Argentina Adult Medical Imaging Market by End Use
9.5.5.3 Rest of South and Central America Adult Medical Imaging Market
9.5.5.3.1 Rest of South and Central America Adult Medical Imaging Market by Type
9.5.5.3.2 Rest of South and Central America Adult Medical Imaging Market by End Use
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ADULT MEDICAL IMAGING MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ADULT MEDICAL IMAGING MARKET, KEY COMPANY PROFILES
12.1. SIEMENS
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. GE HEALTHCARE
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. PHILIPS HEALTHCARE
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. CANON MEDICAL SYSTEMS
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. HITACHI MEDICAL
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. FUJIFILM
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. CARESTREAM
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. KONICA MINOLTA
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. SHIMADZU
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. HOLOGIC
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies

1. Siemens
2. GE Healthcare
3. Philips Healthcare
4. Canon Medical Systems
5. Hitachi Medical
6. Fujifilm
7. Carestream
8. Konica Minolta
9. Shimadzu
10. Hologic
11. Mindray
12. Samsung

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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