The Animal Wound Care Market is expected to register a CAGR of 8.1% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Product (Surgical Wound Care Products, Advanced Wound Care Products, Traditional Wound Care Products, Therapy Devices). The report further presents analysis based on the Animal Type (Companion Animals, Livestock Animals). The report is segmented by End User (Hospitals and Clinics, Home Care). 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 Animal Wound Care 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.
Animal Wound Care Market Segmentation
Product- Surgical Wound Care Products
- Advanced Wound Care Products
- Traditional Wound Care Products
- Therapy Devices
- Companion Animals
- Livestock Animals
- Hospitals and Clinics
- Home Care
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Animal Wound Care Market Growth Drivers- Increasing Pet Ownership and Human-Animal Bond: Increased numbers of pet owing among the masses, especially in urban regions, is one of the major drivers that fuel the animal wound care market. The pets have started to acquire a status similar to family, thus the owners are willing to shell out good amounts to acquire better health care for their pets. The Pet population has grown remarkably in recent years and is attributed to an increase in the spending capacity on veterinary health care services. Increased awareness about pet health is most likely to spur owners to invest more in the advanced wound care products, including dressings, bandages, and topical treatments for pets.
- Advancements in Veterinary Medicine and Technology: Veterinary medicine is updating the entire course of treating animal wounds through technological upgrade. With innovations in regenerative medicine and advanced surgical techniques, biocompatible materials replace the earlier techniques for improving wound healing processes. There are products in the market for hydrogel dressings, antimicrobial coatings, and biological grafts that will only offer better outcomes for animals. Telemedicine and mobile veterinary services make it all possible by reaching out to the pet owners for advice on wound care and products, further fueling the growth of the market.
- Rising Awareness of Animal Welfare: With growing awareness and advocacy over animal welfare, pet owners as well as livestock farmers have begun to heed the call for taking pains in attending to health and general wellbeing of the animals. This has, in turn resulted in extra expenditure on veterinary care, comprising preventive measures and wound management. Organizations and welfare campaigns that highlight proper and time-bound wound healing have further increased demands by the pet wound care market for specialized products and services.
- Natural and Organic Products: A very recent trend in the pet care market is towards natural and organic wound care products. As such, pet owners have started to come out more aware of the ingredients used in veterinary products, preferring solutions without harsh chemical and synthetic additives present in them. Regarding this, the development of wound care products based on natural component - herbal extracts, essential oils, and organic materials further advances the development of such products. Companies with a focus on sustainability and natural formulation will attract green-conscious consumers.
- Increased Focus on Preventive Care: A preventive care trend that is increasingly popular in animal wound care concerns products that provide both treatment of existing wounds and protection against additional injuries. It is fast becoming apparent to pet owners and veterinarians alike that the best means of preventing complications and maximizing the healing rate of an animal with a wound is the proactive management of wounds. This, in turn, led to the development of products not only to treat established wounds but also prevent further injury. Innovations such as protective wraps, barrier creams, and antimicrobial treatments are leading on as part of a comprehensive preventive care strategy.
- Integration of Digital Health Solutions: Digital health solutions are shifting the focus of veterinary care on wound management by animals. Telemedicine platforms and mobile applications allow the easy monitoring of animal health and access to information concerning wound care at a distance. Digital health solutions can guide pet owners on how best to handle wounds by their pets, thus assisting in making proper decisions on the care of the animals. Companies may add digital to their product offerings, which improves customer engagement and enhances general patient outcomes.
- Expansion of Product Offerings: Several lines for the development of new products from animal wound care manufacturers are open here. With innovation, demand is increasingly relevant for a wide range of different animal species-wound care: dogs, cats, horses, and even livestock. Companies can look at making specific line products based on certain conditions or requirements, such as targeted dressing for animals that weigh more and comfortable-to-use applications for pet animals. Customization and specialism can deepen market penetration and attract various customers.
- Growth of E-commerce and Online Veterinary Services: The birth of e-commerce has given veterinary products-wound care supplies purchase a new dimension in the pet care space. The online platforms offer the customers better access to a larger portfolio of products than usually available at competitive prices. Consultations and recommendations from the online veterinary services make it possible for pet owners to find easy solutions to problems associated with wound care from animals. With this rise in the online market, companies that can efficiently leverage e-commerce and invest in digital marketing strategies will capture much of this profitable space.
- Emerging Markets and Rural Areas: The growth prospects in the animal wound care market would arise from the emerging markets and rural areas. Increased access to veterinary care in developing markets can stimulate demand for wound care products. Challenges posed by rural veterinarians, such as limited availability of advanced medical products, would provide companies with distributional opportunities within these regions to exploit a wide range of overlooked markets and therefore expand their market scope and profitability.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Animal Wound Care 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 Animal Wound Care 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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
Traditional Wound Care Products segment, by product, dominated the market in 2023.
Players operating in the market are B. Braun Melsungen AG, Medtronic, 3M, Ethicon LLC, Virbac, Jorgen Kruuse A/S, Neogen Corporation, Acelity L. P. Inc., Bayer AG, Advancis Veterinary Ltd
North America region dominated the Animal Wound Care market in 2023.
Expansion of Product Offerings act as a opportunity for growth of the market in forecast period.
The Animal Wound Care Market is estimated to witness a CAGR of 8.1% from 2023 to 2031
The major factors driving the Animal Wound Care market are:
1. Advancements in Veterinary Medicine and Technology
2.Increasing Pet Ownership and Human-Animal Bond
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Animal Wound Care Market - By Product
1.3.2 Animal Wound Care Market - By Animal Type
1.3.3 Animal Wound Care Market - By End User
1.3.4 Animal Wound Care Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. ANIMAL WOUND CARE 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. ANIMAL WOUND CARE 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. ANIMAL WOUND CARE MARKET - GLOBAL MARKET ANALYSIS
6.1. ANIMAL WOUND CARE - GLOBAL MARKET OVERVIEW
6.2. ANIMAL WOUND CARE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ANIMAL WOUND CARE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SURGICAL WOUND CARE PRODUCTS
7.3.1. Overview
7.3.2. Surgical Wound Care Products Market Forecast and Analysis
7.4. ADVANCED WOUND CARE PRODUCTS
7.4.1. Overview
7.4.2. Advanced Wound Care Products Market Forecast and Analysis
7.5. TRADITIONAL WOUND CARE PRODUCTS
7.5.1. Overview
7.5.2. Traditional Wound Care Products Market Forecast and Analysis
7.6. THERAPY DEVICES
7.6.1. Overview
7.6.2. Therapy Devices Market Forecast and Analysis
8. ANIMAL WOUND CARE MARKET - REVENUE AND FORECASTS TO 2028 - ANIMAL TYPE
8.1. OVERVIEW
8.2. ANIMAL TYPE MARKET FORECASTS AND ANALYSIS
8.3. COMPANION ANIMALS
8.3.1. Overview
8.3.2. Companion Animals Market Forecast and Analysis
8.4. LIVESTOCK ANIMALS
8.4.1. Overview
8.4.2. Livestock Animals Market Forecast and Analysis
9. ANIMAL WOUND CARE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND CLINICS
9.3.1. Overview
9.3.2. Hospitals and Clinics Market Forecast and Analysis
9.4. HOME CARE
9.4.1. Overview
9.4.2. Home Care Market Forecast and Analysis
10. ANIMAL WOUND CARE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Animal Wound Care Market Overview
10.1.2 North America Animal Wound Care Market Forecasts and Analysis
10.1.3 North America Animal Wound Care Market Forecasts and Analysis - By Product
10.1.4 North America Animal Wound Care Market Forecasts and Analysis - By Animal Type
10.1.5 North America Animal Wound Care Market Forecasts and Analysis - By End User
10.1.6 North America Animal Wound Care Market Forecasts and Analysis - By Countries
10.1.6.1 United States Animal Wound Care Market
10.1.6.1.1 United States Animal Wound Care Market by Product
10.1.6.1.2 United States Animal Wound Care Market by Animal Type
10.1.6.1.3 United States Animal Wound Care Market by End User
10.1.6.2 Canada Animal Wound Care Market
10.1.6.2.1 Canada Animal Wound Care Market by Product
10.1.6.2.2 Canada Animal Wound Care Market by Animal Type
10.1.6.2.3 Canada Animal Wound Care Market by End User
10.1.6.3 Mexico Animal Wound Care Market
10.1.6.3.1 Mexico Animal Wound Care Market by Product
10.1.6.3.2 Mexico Animal Wound Care Market by Animal Type
10.1.6.3.3 Mexico Animal Wound Care Market by End User
10.2. EUROPE
10.2.1 Europe Animal Wound Care Market Overview
10.2.2 Europe Animal Wound Care Market Forecasts and Analysis
10.2.3 Europe Animal Wound Care Market Forecasts and Analysis - By Product
10.2.4 Europe Animal Wound Care Market Forecasts and Analysis - By Animal Type
10.2.5 Europe Animal Wound Care Market Forecasts and Analysis - By End User
10.2.6 Europe Animal Wound Care Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Animal Wound Care Market
10.2.6.1.1 Germany Animal Wound Care Market by Product
10.2.6.1.2 Germany Animal Wound Care Market by Animal Type
10.2.6.1.3 Germany Animal Wound Care Market by End User
10.2.6.2 France Animal Wound Care Market
10.2.6.2.1 France Animal Wound Care Market by Product
10.2.6.2.2 France Animal Wound Care Market by Animal Type
10.2.6.2.3 France Animal Wound Care Market by End User
10.2.6.3 Italy Animal Wound Care Market
10.2.6.3.1 Italy Animal Wound Care Market by Product
10.2.6.3.2 Italy Animal Wound Care Market by Animal Type
10.2.6.3.3 Italy Animal Wound Care Market by End User
10.2.6.4 Spain Animal Wound Care Market
10.2.6.4.1 Spain Animal Wound Care Market by Product
10.2.6.4.2 Spain Animal Wound Care Market by Animal Type
10.2.6.4.3 Spain Animal Wound Care Market by End User
10.2.6.5 United Kingdom Animal Wound Care Market
10.2.6.5.1 United Kingdom Animal Wound Care Market by Product
10.2.6.5.2 United Kingdom Animal Wound Care Market by Animal Type
10.2.6.5.3 United Kingdom Animal Wound Care Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Animal Wound Care Market Overview
10.3.2 Asia-Pacific Animal Wound Care Market Forecasts and Analysis
10.3.3 Asia-Pacific Animal Wound Care Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Animal Wound Care Market Forecasts and Analysis - By Animal Type
10.3.5 Asia-Pacific Animal Wound Care Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Animal Wound Care Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Animal Wound Care Market
10.3.6.1.1 Australia Animal Wound Care Market by Product
10.3.6.1.2 Australia Animal Wound Care Market by Animal Type
10.3.6.1.3 Australia Animal Wound Care Market by End User
10.3.6.2 China Animal Wound Care Market
10.3.6.2.1 China Animal Wound Care Market by Product
10.3.6.2.2 China Animal Wound Care Market by Animal Type
10.3.6.2.3 China Animal Wound Care Market by End User
10.3.6.3 India Animal Wound Care Market
10.3.6.3.1 India Animal Wound Care Market by Product
10.3.6.3.2 India Animal Wound Care Market by Animal Type
10.3.6.3.3 India Animal Wound Care Market by End User
10.3.6.4 Japan Animal Wound Care Market
10.3.6.4.1 Japan Animal Wound Care Market by Product
10.3.6.4.2 Japan Animal Wound Care Market by Animal Type
10.3.6.4.3 Japan Animal Wound Care Market by End User
10.3.6.5 South Korea Animal Wound Care Market
10.3.6.5.1 South Korea Animal Wound Care Market by Product
10.3.6.5.2 South Korea Animal Wound Care Market by Animal Type
10.3.6.5.3 South Korea Animal Wound Care Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Animal Wound Care Market Overview
10.4.2 Middle East and Africa Animal Wound Care Market Forecasts and Analysis
10.4.3 Middle East and Africa Animal Wound Care Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Animal Wound Care Market Forecasts and Analysis - By Animal Type
10.4.5 Middle East and Africa Animal Wound Care Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Animal Wound Care Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Animal Wound Care Market
10.4.6.1.1 South Africa Animal Wound Care Market by Product
10.4.6.1.2 South Africa Animal Wound Care Market by Animal Type
10.4.6.1.3 South Africa Animal Wound Care Market by End User
10.4.6.2 Saudi Arabia Animal Wound Care Market
10.4.6.2.1 Saudi Arabia Animal Wound Care Market by Product
10.4.6.2.2 Saudi Arabia Animal Wound Care Market by Animal Type
10.4.6.2.3 Saudi Arabia Animal Wound Care Market by End User
10.4.6.3 U.A.E Animal Wound Care Market
10.4.6.3.1 U.A.E Animal Wound Care Market by Product
10.4.6.3.2 U.A.E Animal Wound Care Market by Animal Type
10.4.6.3.3 U.A.E Animal Wound Care Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Animal Wound Care Market Overview
10.5.2 South and Central America Animal Wound Care Market Forecasts and Analysis
10.5.3 South and Central America Animal Wound Care Market Forecasts and Analysis - By Product
10.5.4 South and Central America Animal Wound Care Market Forecasts and Analysis - By Animal Type
10.5.5 South and Central America Animal Wound Care Market Forecasts and Analysis - By End User
10.5.6 South and Central America Animal Wound Care Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Animal Wound Care Market
10.5.6.1.1 Brazil Animal Wound Care Market by Product
10.5.6.1.2 Brazil Animal Wound Care Market by Animal Type
10.5.6.1.3 Brazil Animal Wound Care Market by End User
10.5.6.2 Argentina Animal Wound Care Market
10.5.6.2.1 Argentina Animal Wound Care Market by Product
10.5.6.2.2 Argentina Animal Wound Care Market by Animal Type
10.5.6.2.3 Argentina Animal Wound Care 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. ANIMAL WOUND CARE MARKET, KEY COMPANY PROFILES
12.1. B. BRAUN MELSUNGEN AG
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. MEDTRONIC
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. 3M
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. ETHICON LLC
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. VIRBAC
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. JORGEN KRUUSE A/S
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. NEOGEN CORPORATION
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. ACELITY L.P. INC.
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. BAYER AG
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. ADVANCIS VETERINARY 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. B. Braun Melsungen AG
2. Medtronic
3. 3M
4. Ethicon LLC
5. Virbac
6. Jorgen Kruuse A/S
7. Neogen Corporation
8. Acelity L. P. Inc.
9. Bayer AG
10. Advancis Veterinary 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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