Aesthetic Medicine Market Updates by 2031
The aesthetic medicine market is expected to reach US$ 233.84 billion by 2031 from US$ 102.25 billion in 2022, growing at a CAGR of 14.8% from 2022 to 2031.
Aesthetic medicine is defined as specialties that focus on altering cosmetic appearance through invasive/non-invasive treatment options of conditions including scars, skin laxity, wrinkles, moles, liver spots, skin lesions, fat reduction, and acne, amongst others. Market participants are coming up with innovative devices that has aided the overall market in the recent past and is expected to continue a similar trend during the forecast period.
MARKET DYNAMICS
Small and large companies in the aesthetic medicine market are adopting various strategies, including regional expansion and technological advancements, to increase their market share. The rising number of innovative devices by market participants and facial rejuvenation treatments adopted by consumers has aided the overall market growth. Moreover, technological advancements such as fat-freezing technology are anticipated to create lucrative opportunities for the market growth in the coming years.
MARKET SCOPE
The "Global Aesthetic Medicine Market Forecast to 2031" report aims to provide an overview of the aesthetic medicine market with detailed market segmentation on the basis of gender, procedures, technologies, and end user. The report provides key statistics based on the financial performances of the leading market players. It also offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global aesthetic medicine market is segmented on the basis of gender, procedures, technologies, and end user. Based on gender, the market is bifurcated into male and female. Based procedures, the market is bifurcated into invasive and non-invasive. The invasive segment is further sub segmented into breast augmentation, liposuction, nose reshaping, eyelid surgery, tummy tuck, and others. The non-invasive segment is further sub segmented into botox injections, body shaping & carbon peeling, soft tissue fillers, chemical peel & rejuvenation, acne treatment & drainage tonification, permanent hair removal & tattoo removal, microdermabrasion & vascular lesions, and others. Based on technologies, the market is categorized into acoustic wave, radiofrequency, pressomassage, oxygen therapy, diode laser, and others. Based on end user, the market is segmented into hospital & clinics, medical spas, home care, beauty centers, and others.
The global aesthetic medicine market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in all abovementioned regions.
North America dominates the aesthetic medicine market. The North America aesthetic medicine market is segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2021 and is expected to continue a similar trend during the forecast period. Breast implants are the most common type of aesthetic surgical procedure in the developed markets, particularly in the US. Aesthetic surgical procedures include breast augmentation, breast removal, breast reduction, and breast lift. Silicone implants are mostly preferred in ~90% of cases, while the rest of the consumers prefer saline implants. According to the International Society of Aesthetic Plastic Surgery Report 2021, 391,997 breast augmentation procedures were performed in the US.
Source: The Insight Partners Analysis
The report analyses factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the aesthetic medicine market. The report also provides PEST analysis, highlighting the factors affecting the aesthetic medicine market in these regions.
IMPACT OF COVID-19 PANDEMIC
According to the World Health Organization (WHO), as of August 2022, there were 596,873,121 confirmed cases of COVID-19 and 6,459,684 deaths. The highest number of deaths was in the Americas, followed by Europe and Southeast Asia. The COVID-19 pandemic has negatively impacted the aesthetic medicine market. Initially, social distancing and reduced income levels of consumers had a negative impact on the overall aesthetic medicine market. The short-term negative impacts included limited operations, a decline in product demand, and temporary closures of beauty parlors and medical spas. However, remote Zoom call meetings with doctors via online method increased the demand for aesthetic medicine. Rising demand from adults to retain their physical appearance has increased the demand for cosmetic surgeries, especially botox invasive treatments. As COVID-19 cases are declining worldwide, there is a demand for aesthetic treatment procedures in both developed and developing countries. For instance, at the Skin Renewal Medical Aesthetic Centre located in South Africa, a treatment with Restylane, Surgiderm, or Juvederm is priced from R2 900, and at Melrose Aesthetic Centre, Juvederm treatment costs R3 450.
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The global aesthetic medicine market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in all abovementioned regions.
North America dominates the aesthetic medicine market. The North America aesthetic medicine market is segmented into the US, Canada, and Mexico. The US held the largest share of the market in 2021 and is expected to continue a similar trend during the forecast period. Breast implants are the most common type of aesthetic surgical procedure in the developed markets, particularly in the US. Aesthetic surgical procedures include breast augmentation, breast removal, breast reduction, and breast lift. Silicone implants are mostly preferred in ~90% of cases, while the rest of the consumers prefer saline implants. According to the International Society of Aesthetic Plastic Surgery Report 2021, 391,997 breast augmentation procedures were performed in the US.
Source: The Insight Partners Analysis
The report analyses factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the aesthetic medicine market. The report also provides PEST analysis, highlighting the factors affecting the aesthetic medicine market in these regions.
IMPACT OF COVID-19 PANDEMIC
According to the World Health Organization (WHO), as of August 2022, there were 596,873,121 confirmed cases of COVID-19 and 6,459,684 deaths. The highest number of deaths was in the Americas, followed by Europe and Southeast Asia. The COVID-19 pandemic has negatively impacted the aesthetic medicine market. Initially, social distancing and reduced income levels of consumers had a negative impact on the overall aesthetic medicine market. The short-term negative impacts included limited operations, a decline in product demand, and temporary closures of beauty parlors and medical spas. However, remote Zoom call meetings with doctors via online method increased the demand for aesthetic medicine. Rising demand from adults to retain their physical appearance has increased the demand for cosmetic surgeries, especially botox invasive treatments. As COVID-19 cases are declining worldwide, there is a demand for aesthetic treatment procedures in both developed and developing countries. For instance, at the Skin Renewal Medical Aesthetic Centre located in South Africa, a treatment with Restylane, Surgiderm, or Juvederm is priced from R2 900, and at Melrose Aesthetic Centre, Juvederm treatment costs R3 450.
MARKET PLAYERS
The report covers key developments in the aesthetic medicine market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. In addition, acquisitions, partnerships, and collaborations are among the inorganic growth strategies witnessed in the market. These activities have encouraged the expansion of business and the customer base of market players. The players operating in the aesthetic medicine market are anticipated to experience lucrative growth opportunities owing to the rising demand for aesthetic medicine products.
The report also includes the profiles of key companies operating in the aesthetic medicine ticals market, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
The list of a few companies engaged in the aesthetic medicine market is mentioned below:
- EME s.r.l
- Fusion Meso
- AbbVie
- Galderma
- Cynosure Aesthetics
- Lumenis Be Ltd
- Evolus, Inc.
- Solta Medical
- Syneron Candela
- Alma Lasers
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Gender, Procedures, Technologies, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
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 Aesthetic Medicine Market - By Product
1.3.2 Aesthetic Medicine Market - By End User
1.3.3 Aesthetic Medicine Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AESTHETIC MEDICINE 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. AESTHETIC MEDICINE 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. AESTHETIC MEDICINE MARKET - GLOBAL MARKET ANALYSIS
6.1. AESTHETIC MEDICINE - GLOBAL MARKET OVERVIEW
6.2. AESTHETIC MEDICINE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AESTHETIC MEDICINE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ANTI-WRINKLE PRODUCTS
7.3.1. Overview
7.3.2. Anti-Wrinkle Products Market Forecast and Analysis
7.3.3. Chemical Peel Market
7.3.3.1. Overview
7.3.3.2. Chemical Peel Market Forecast and Analysis
7.3.4. Dermal Fillers Market
7.3.4.1. Overview
7.3.4.2. Dermal Fillers Market Forecast and Analysis
7.3.5. Botulinum Toxin Market
7.3.5.1. Overview
7.3.5.2. Botulinum Toxin Market Forecast and Analysis
7.4. ENERGY BASED DEVICES
7.4.1. Overview
7.4.2. Energy Based Devices Market Forecast and Analysis
7.4.3. Ultrasound Devices Market
7.4.3.1. Overview
7.4.3.2. Ultrasound Devices Market Forecast and Analysis
7.4.4. Body Contouring Devices Market
7.4.4.1. Overview
7.4.4.2. Body Contouring Devices Market Forecast and Analysis
7.4.5. Microdermabrasion Devices Market
7.4.5.1. Overview
7.4.5.2. Microdermabrasion Devices Market Forecast and Analysis
7.4.6. Aesthetic Laser Devices Market
7.4.6.1. Overview
7.4.6.2. Aesthetic Laser Devices Market Forecast and Analysis
7.5. IMPLANTS
7.5.1. Overview
7.5.2. Implants Market Forecast and Analysis
8. AESTHETIC MEDICINE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. DERMATOLOGY CLINICS
8.4.1. Overview
8.4.2. Dermatology Clinics Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. AESTHETIC MEDICINE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aesthetic Medicine Market Overview
9.1.2 North America Aesthetic Medicine Market Forecasts and Analysis
9.1.3 North America Aesthetic Medicine Market Forecasts and Analysis - By Product
9.1.4 North America Aesthetic Medicine Market Forecasts and Analysis - By End User
9.1.5 North America Aesthetic Medicine Market Forecasts and Analysis - By Countries
9.1.5.1 United States Aesthetic Medicine Market
9.1.5.1.1 United States Aesthetic Medicine Market by Product
9.1.5.1.2 United States Aesthetic Medicine Market by End User
9.1.5.2 Canada Aesthetic Medicine Market
9.1.5.2.1 Canada Aesthetic Medicine Market by Product
9.1.5.2.2 Canada Aesthetic Medicine Market by End User
9.1.5.3 Mexico Aesthetic Medicine Market
9.1.5.3.1 Mexico Aesthetic Medicine Market by Product
9.1.5.3.2 Mexico Aesthetic Medicine Market by End User
9.2. EUROPE
9.2.1 Europe Aesthetic Medicine Market Overview
9.2.2 Europe Aesthetic Medicine Market Forecasts and Analysis
9.2.3 Europe Aesthetic Medicine Market Forecasts and Analysis - By Product
9.2.4 Europe Aesthetic Medicine Market Forecasts and Analysis - By End User
9.2.5 Europe Aesthetic Medicine Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aesthetic Medicine Market
9.2.5.1.1 Germany Aesthetic Medicine Market by Product
9.2.5.1.2 Germany Aesthetic Medicine Market by End User
9.2.5.2 France Aesthetic Medicine Market
9.2.5.2.1 France Aesthetic Medicine Market by Product
9.2.5.2.2 France Aesthetic Medicine Market by End User
9.2.5.3 Italy Aesthetic Medicine Market
9.2.5.3.1 Italy Aesthetic Medicine Market by Product
9.2.5.3.2 Italy Aesthetic Medicine Market by End User
9.2.5.4 Spain Aesthetic Medicine Market
9.2.5.4.1 Spain Aesthetic Medicine Market by Product
9.2.5.4.2 Spain Aesthetic Medicine Market by End User
9.2.5.5 United Kingdom Aesthetic Medicine Market
9.2.5.5.1 United Kingdom Aesthetic Medicine Market by Product
9.2.5.5.2 United Kingdom Aesthetic Medicine Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aesthetic Medicine Market Overview
9.3.2 Asia-Pacific Aesthetic Medicine Market Forecasts and Analysis
9.3.3 Asia-Pacific Aesthetic Medicine Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Aesthetic Medicine Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Aesthetic Medicine Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aesthetic Medicine Market
9.3.5.1.1 Australia Aesthetic Medicine Market by Product
9.3.5.1.2 Australia Aesthetic Medicine Market by End User
9.3.5.2 China Aesthetic Medicine Market
9.3.5.2.1 China Aesthetic Medicine Market by Product
9.3.5.2.2 China Aesthetic Medicine Market by End User
9.3.5.3 India Aesthetic Medicine Market
9.3.5.3.1 India Aesthetic Medicine Market by Product
9.3.5.3.2 India Aesthetic Medicine Market by End User
9.3.5.4 Japan Aesthetic Medicine Market
9.3.5.4.1 Japan Aesthetic Medicine Market by Product
9.3.5.4.2 Japan Aesthetic Medicine Market by End User
9.3.5.5 South Korea Aesthetic Medicine Market
9.3.5.5.1 South Korea Aesthetic Medicine Market by Product
9.3.5.5.2 South Korea Aesthetic Medicine Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aesthetic Medicine Market Overview
9.4.2 Middle East and Africa Aesthetic Medicine Market Forecasts and Analysis
9.4.3 Middle East and Africa Aesthetic Medicine Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Aesthetic Medicine Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Aesthetic Medicine Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aesthetic Medicine Market
9.4.5.1.1 South Africa Aesthetic Medicine Market by Product
9.4.5.1.2 South Africa Aesthetic Medicine Market by End User
9.4.5.2 Saudi Arabia Aesthetic Medicine Market
9.4.5.2.1 Saudi Arabia Aesthetic Medicine Market by Product
9.4.5.2.2 Saudi Arabia Aesthetic Medicine Market by End User
9.4.5.3 U.A.E Aesthetic Medicine Market
9.4.5.3.1 U.A.E Aesthetic Medicine Market by Product
9.4.5.3.2 U.A.E Aesthetic Medicine Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aesthetic Medicine Market Overview
9.5.2 South and Central America Aesthetic Medicine Market Forecasts and Analysis
9.5.3 South and Central America Aesthetic Medicine Market Forecasts and Analysis - By Product
9.5.4 South and Central America Aesthetic Medicine Market Forecasts and Analysis - By End User
9.5.5 South and Central America Aesthetic Medicine Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aesthetic Medicine Market
9.5.5.1.1 Brazil Aesthetic Medicine Market by Product
9.5.5.1.2 Brazil Aesthetic Medicine Market by End User
9.5.5.2 Argentina Aesthetic Medicine Market
9.5.5.2.1 Argentina Aesthetic Medicine Market by Product
9.5.5.2.2 Argentina Aesthetic Medicine Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AESTHETIC MEDICINE MARKET, KEY COMPANY PROFILES
11.1. CANDELA CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALMA LASERS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. LUMENIS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. JOHNSON AND JOHNSON SERVICES, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ALLERGAN
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. Cynosure (Hologic, Inc.)
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. GALDERMA LABORATORIES
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. BAUSCH HEALTH
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. PHOTOMEDEX, INC.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. Merz Aesthetics
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- EME s.r.l
- Fusion Meso
- AbbVie
- Galderma
- Cynosure Aesthetics
- Lumenis Be Ltd
- Evolus, Inc.
- Solta Medical
- Syneron Candela
- Alma Lasers
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
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