ambulance stretchers Market Drivers and Opportunities [2021-2031]
The ambulance stretchers Market is expected to register a CAGR of 3.5% 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 Product ( Emergency Stretchers, Transport Stretchers ), Further, the report is segmented on the basis of Technology ( Manual Stretchers, Electric Powered Stretchers, Pneumatic Stretchers ). Also, the report is segmented based on End User ( Hospitals, EMS Service Providers, Ambulatory Service Centers, Others ). 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 ReportThe report ambulance stretchers 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.
ambulance stretchers Market Segmentation
Product- Emergency Stretchers
- Transport Stretchers
- Manual Stretchers
- Electric Powered Stretchers
- Pneumatic Stretchers
- Hospitals
- EMS Service Providers
- Ambulatory Service Centers
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
ambulance stretchers Market Growth Drivers- Technological Innovations: Technological advancements in material design spur the ambulance stretchers market. Lightweight, strong composites and ergonomic designs improve the comfort both for patients and for transporting them with minimal ease for emergency staff. Other features include integrated monitoring systems and height adjustment to a working position for enhancing function and access in patient care when transporting patients and minimizing the risk of injury to paramedics.
- Increasing Demand for Emergency Medical Services: This thus significantly impacts the market for ambulance stretchers because of the increasing necessity for effective EMS. With ever-increasing urban populations, medical emergencies are rising, and to cope with the flow, health care systems are investing in sophisticated stretcher systems that assure better patient care. Increasing focus on reducing response time and better patient outcomes accelerate this necessity further and put a thrust on demand for innovative stretcher solutions.
- Regulatory Standards and Safety Issues: This market is characterized by higher regulatory standards and higher levels of safety. Such regulations in stretcher design place a demand for greater sophistication on the part of EMS providers and drive the newness of manufacturers in terms of improvements and other safety features, such as positive locking and improved restraint systems.
- Need for Lightweight Materials Increased: Probably, one of the most observed trends in the ambulance stretchers market is the trend toward a preference for lighter material usage from aluminum and advanced composites. Such materials enhance the portability and make the stretcher more maneuverable than others. They also reduce physical efforts in transporting a patient while under the care of EMS personnel. Therefore, the focus on light designs helps to hasten response times and achieve better overall effectiveness in emergency medical services.
- Smart Technology Integration: Integration of smart technologies into the ambulance stretcher is changing the face of this market. With features like built-in vital sign monitors, GPS tracking, and other integrated height adjustments, these innovations manage to enhance patient care and the operational efficiency of any service. It allows access to crucial health data in real-time for paramedics, well in time to make the right decision during emergencies, thus enhancing the pre-hospital care as a whole.
- Customization and Modular Designs: Modular designs are increasingly being adopted in the market of ambulance stretchers. The trend implies a drastic need, as manufacturers start developing more adaptable stretcher systems that can be tailored to specific emergency scenarios and allow for greater adaptability in transportation. Such a trend fulfills numerous needs created under different healthcare settings while enhancing functionalities to ensure teams are qualified to respond effectively in a broad range of medical situations.
- Eco-Friendly Solutions: The green ambulances, which now use stretchers made from raw material that can be sourced from sustainable resources, hold immense growing prospects. Since healthcare systems are now in favor of low carbon footprints, producers would be wise to seize the opportunity by using stretchers made of recycled or bio-degradable material; it is a highly alluring prospect both for green organizations and those in pursuit of global sustainability goals as it adds value to the brand and the market.
- Growth in Emerging Markets: Ambulance stretchers are one of those growth areas in those countries, which, though not very developed, are very rapidly progressing in terms of infrastructure related to health. Investment by governments in emergency medical services increases the demand for modern ambulances combined with stretchers, which opens avenues for growth for manufacturers to form local government partnerships with local healthcare providers to foster innovation and expansion in these regions.
- Technological Innovation and Partnerships: The avenue for technological innovation and partnership in an ambulance stretcher is enormous. Manufacturers can have stretchers with AI, IoT, and telemedicine capabilities that help in the functionality of stretcher designs, improve patient care during transport, and contribute to robust clinical evidence and development of new technologies. Collaboration with the tech companies also provides an avenue for innovative solutions addressing the changing needs of ER medical services and guaranteeing competitive advantage.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the ambulance stretchers 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 ambulance stretchers 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Asia Pacific region is the fastest growing in the market
2021 to 2022- are the historic year, 2023 - base year, 2024 to 2031- are the forecast year
ByronWade Group, Ferno-Washington, Inc, and Hill-Rom Services Inc. accounted for major market shares in the year 2023
North America region accounted for the accounted for the highest market share
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
The ambulance stretchers Market is estimated to witness a CAGR of 3.5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Ambulance Stretchers Market - By Product
1.3.2 Ambulance Stretchers Market - By Technology
1.3.3 Ambulance Stretchers Market - By End User
1.3.4 Ambulance Stretchers Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AMBULANCE STRETCHERS 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. AMBULANCE STRETCHERS 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. AMBULANCE STRETCHERS MARKET - GLOBAL MARKET ANALYSIS
6.1. AMBULANCE STRETCHERS - GLOBAL MARKET OVERVIEW
6.2. AMBULANCE STRETCHERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AMBULANCE STRETCHERS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. EMERGENCY STRETCHERS
7.3.1. Overview
7.3.2. Emergency Stretchers Market Forecast and Analysis
7.4. TRANSPORT STRETCHERS
7.4.1. Overview
7.4.2. Transport Stretchers Market Forecast and Analysis
8. AMBULANCE STRETCHERS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. MANUAL STRETCHERS
8.3.1. Overview
8.3.2. Manual Stretchers Market Forecast and Analysis
8.4. ELECTRIC POWERED STRETCHERS
8.4.1. Overview
8.4.2. Electric Powered Stretchers Market Forecast and Analysis
8.5. PNEUMATIC STRETCHERS
8.5.1. Overview
8.5.2. Pneumatic Stretchers Market Forecast and Analysis
9. AMBULANCE STRETCHERS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. EMS SERVICE PROVIDERS
9.4.1. Overview
9.4.2. EMS Service Providers Market Forecast and Analysis
9.5. AMBULATORY SERVICE CENTERS
9.5.1. Overview
9.5.2. Ambulatory Service Centers Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. AMBULANCE STRETCHERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Ambulance Stretchers Market Overview
10.1.2 North America Ambulance Stretchers Market Forecasts and Analysis
10.1.3 North America Ambulance Stretchers Market Forecasts and Analysis - By Product
10.1.4 North America Ambulance Stretchers Market Forecasts and Analysis - By Technology
10.1.5 North America Ambulance Stretchers Market Forecasts and Analysis - By End User
10.1.6 North America Ambulance Stretchers Market Forecasts and Analysis - By Countries
10.1.6.1 United States Ambulance Stretchers Market
10.1.6.1.1 United States Ambulance Stretchers Market by Product
10.1.6.1.2 United States Ambulance Stretchers Market by Technology
10.1.6.1.3 United States Ambulance Stretchers Market by End User
10.1.6.2 Canada Ambulance Stretchers Market
10.1.6.2.1 Canada Ambulance Stretchers Market by Product
10.1.6.2.2 Canada Ambulance Stretchers Market by Technology
10.1.6.2.3 Canada Ambulance Stretchers Market by End User
10.1.6.3 Mexico Ambulance Stretchers Market
10.1.6.3.1 Mexico Ambulance Stretchers Market by Product
10.1.6.3.2 Mexico Ambulance Stretchers Market by Technology
10.1.6.3.3 Mexico Ambulance Stretchers Market by End User
10.2. EUROPE
10.2.1 Europe Ambulance Stretchers Market Overview
10.2.2 Europe Ambulance Stretchers Market Forecasts and Analysis
10.2.3 Europe Ambulance Stretchers Market Forecasts and Analysis - By Product
10.2.4 Europe Ambulance Stretchers Market Forecasts and Analysis - By Technology
10.2.5 Europe Ambulance Stretchers Market Forecasts and Analysis - By End User
10.2.6 Europe Ambulance Stretchers Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Ambulance Stretchers Market
10.2.6.1.1 Germany Ambulance Stretchers Market by Product
10.2.6.1.2 Germany Ambulance Stretchers Market by Technology
10.2.6.1.3 Germany Ambulance Stretchers Market by End User
10.2.6.2 France Ambulance Stretchers Market
10.2.6.2.1 France Ambulance Stretchers Market by Product
10.2.6.2.2 France Ambulance Stretchers Market by Technology
10.2.6.2.3 France Ambulance Stretchers Market by End User
10.2.6.3 Italy Ambulance Stretchers Market
10.2.6.3.1 Italy Ambulance Stretchers Market by Product
10.2.6.3.2 Italy Ambulance Stretchers Market by Technology
10.2.6.3.3 Italy Ambulance Stretchers Market by End User
10.2.6.4 Spain Ambulance Stretchers Market
10.2.6.4.1 Spain Ambulance Stretchers Market by Product
10.2.6.4.2 Spain Ambulance Stretchers Market by Technology
10.2.6.4.3 Spain Ambulance Stretchers Market by End User
10.2.6.5 United Kingdom Ambulance Stretchers Market
10.2.6.5.1 United Kingdom Ambulance Stretchers Market by Product
10.2.6.5.2 United Kingdom Ambulance Stretchers Market by Technology
10.2.6.5.3 United Kingdom Ambulance Stretchers Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Ambulance Stretchers Market Overview
10.3.2 Asia-Pacific Ambulance Stretchers Market Forecasts and Analysis
10.3.3 Asia-Pacific Ambulance Stretchers Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Ambulance Stretchers Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Ambulance Stretchers Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Ambulance Stretchers Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Ambulance Stretchers Market
10.3.6.1.1 Australia Ambulance Stretchers Market by Product
10.3.6.1.2 Australia Ambulance Stretchers Market by Technology
10.3.6.1.3 Australia Ambulance Stretchers Market by End User
10.3.6.2 China Ambulance Stretchers Market
10.3.6.2.1 China Ambulance Stretchers Market by Product
10.3.6.2.2 China Ambulance Stretchers Market by Technology
10.3.6.2.3 China Ambulance Stretchers Market by End User
10.3.6.3 India Ambulance Stretchers Market
10.3.6.3.1 India Ambulance Stretchers Market by Product
10.3.6.3.2 India Ambulance Stretchers Market by Technology
10.3.6.3.3 India Ambulance Stretchers Market by End User
10.3.6.4 Japan Ambulance Stretchers Market
10.3.6.4.1 Japan Ambulance Stretchers Market by Product
10.3.6.4.2 Japan Ambulance Stretchers Market by Technology
10.3.6.4.3 Japan Ambulance Stretchers Market by End User
10.3.6.5 South Korea Ambulance Stretchers Market
10.3.6.5.1 South Korea Ambulance Stretchers Market by Product
10.3.6.5.2 South Korea Ambulance Stretchers Market by Technology
10.3.6.5.3 South Korea Ambulance Stretchers Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Ambulance Stretchers Market Overview
10.4.2 Middle East and Africa Ambulance Stretchers Market Forecasts and Analysis
10.4.3 Middle East and Africa Ambulance Stretchers Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Ambulance Stretchers Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Ambulance Stretchers Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Ambulance Stretchers Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Ambulance Stretchers Market
10.4.6.1.1 South Africa Ambulance Stretchers Market by Product
10.4.6.1.2 South Africa Ambulance Stretchers Market by Technology
10.4.6.1.3 South Africa Ambulance Stretchers Market by End User
10.4.6.2 Saudi Arabia Ambulance Stretchers Market
10.4.6.2.1 Saudi Arabia Ambulance Stretchers Market by Product
10.4.6.2.2 Saudi Arabia Ambulance Stretchers Market by Technology
10.4.6.2.3 Saudi Arabia Ambulance Stretchers Market by End User
10.4.6.3 U.A.E Ambulance Stretchers Market
10.4.6.3.1 U.A.E Ambulance Stretchers Market by Product
10.4.6.3.2 U.A.E Ambulance Stretchers Market by Technology
10.4.6.3.3 U.A.E Ambulance Stretchers Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Ambulance Stretchers Market Overview
10.5.2 South and Central America Ambulance Stretchers Market Forecasts and Analysis
10.5.3 South and Central America Ambulance Stretchers Market Forecasts and Analysis - By Product
10.5.4 South and Central America Ambulance Stretchers Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Ambulance Stretchers Market Forecasts and Analysis - By End User
10.5.6 South and Central America Ambulance Stretchers Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Ambulance Stretchers Market
10.5.6.1.1 Brazil Ambulance Stretchers Market by Product
10.5.6.1.2 Brazil Ambulance Stretchers Market by Technology
10.5.6.1.3 Brazil Ambulance Stretchers Market by End User
10.5.6.2 Argentina Ambulance Stretchers Market
10.5.6.2.1 Argentina Ambulance Stretchers Market by Product
10.5.6.2.2 Argentina Ambulance Stretchers Market by Technology
10.5.6.2.3 Argentina Ambulance Stretchers Market by End User
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. AMBULANCE STRETCHERS MARKET , KEY COMPANY PROFILES
12.1. BYRONWADE GROUP
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. FERNO-WASHINGTON, INC.
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. FU SHUN HSING TECHNOLOGY CO. LTD.
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. GIVAS
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. HILL-ROM SERVICES INC.
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. MEDLINE INDUSTRIES, INC.
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. NARANG MEDICAL LIMITED
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. ROYAX
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. STRYKER CORPORATION
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. ZHANGJIAGANG NEW FELLOW MED CO., LTD.
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
1. ByronWade Group
2. Ferno-Washington, Inc.
3. Fu Shun Hsing Technology Co. Ltd.
4. GIVAS
5. Hill-Rom Services Inc.
6. Medline Industries, Inc.
7. Narang Medical Limited
8. ROYAX
9. Stryker Corporation
10. Zhangjiagang New Fellow Med Co., Ltd.
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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