Artificial Heart Stent Market Size - Growth by 2031
The Artificial Heart Stent Market is expected to register a CAGR of 11.4% 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 (Bare-Metal Stent, Drug-Eluting Stent, and Bioresorbable Vascular Scaffold). The report is further segmented based on Application (Acute Myocardial Infarction, Unstable Angina, and Angina Pectoris). The report further presents analysis based on End User (Hospitals, Ambulatory Surgical Center, and 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 Artificial Heart Stent 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.
Artificial Heart Stent Market Segmentation
Product- Bare-Metal Stent
- Drug-Eluting Stent
- Bioresorbable Vascular Scaffold
- Acute Myocardial Infarction
- Unstable Angina
- Angina Pectoris
- Hospitals
- Ambulatory Surgical Center
- 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
Artificial Heart Stent Market Growth Drivers- Rising Prevalence of Cardiovascular Diseases (CVDs): The escalating prevalence of CVDs, such as heart ailments and stroke, has greatly facilitated the growth of the market. Due to the aging population and increasing prevalence of lifestyle-related risk factors such as obesity and diabetes, there is an increase in the need for effective treatment options, including stents. Thus, due to the increasing burden of CVD worldwide, it necessitates more sophisticated medical interventions.
- Improved Patient Outcomes: Adoption rates of artificial heart stents are enhanced by the wide range of advantages that they have in terms of improving blood flow and preventing restenosis. Clinical evidence has indicated that the newer forms of stents shorten the recovery time and improve the health status of the patients, thereby becoming a favorable choice for patients and healthcare practitioners.
- Increased Awareness and Screening: As awareness about cardiovascular health is growing among the general population, more people are screened and diagnosed at an earlier stage for various heart conditions. This increased awareness increases the need for some interventions, such as stenting, since patients seek effective solutions to take care of their cardiovascular health.
- Biodegradable and Bioabsorbable Stents: There is a growing trend towards the usage of materials that are biodegradable and bioabsorbable. These stents have a lifespan after which they dissolve, hence minimizing risks such as late thrombosis, which occurs with permanent implants. These stents are expected to be used more in clinical procedures as more and more researchers support their claims on efficacy and safety.
- Integration of Advanced Imaging Techniques: The integration of advanced imaging technologies, such as intracoronary optical coherence tomography, is expected to improve the accuracy of the stenting procedures. The use of such advanced imaging allows for enhanced visualization of the coronary artery and its stent placement, leading to better results and fewer complications.
- Personalized Medicine Approaches: The leaning towards personalized medicine for cardiovascular patients is influencing the ways stents are designed and used. It is believed that stent selection and treatment regimen will be determined by the patient's genetic factors and specific disease conditions, which will enhance the effectiveness of treatment and patient satisfaction.
- Technological Innovations in the Field of Cardiovascular Stent Therapies: There is a prominent emphasis on the development of advanced stents. These technologies seek to solve common problems, such as in-stent restenosis, has the possibility of improving patient outcomes. Companies that focus on research and development aimed at creating the next generation of stents stand to take this opportunity to enhance their competitiveness in the industry.
- Growing Strategic Activities: It is well-known that cooperation among manufacturers of medical devices, healthcare providers, and research organizations enables progress in patient care and innovative solutions. When companies engage in strategic alliances, they help augment their product capabilities and increase their market penetration. This paradigm also facilitates the development of customized stenting solutions tailored for every patient.
- Market Growth Potential: The demand for stenting solutions is quite high. The growth is fueled as a result of increased cases of cardiovascular diseases, which creates demands for treatment interventions on a constant basis. Companies that have the capacity to design and manufacture innovative and superior stents have the opportunity to capture significant market share.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Artificial Heart Stent 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 Artificial Heart Stent 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
Abbott; B. Braun Melsungen AG; Terumo Corporation; Medtronic; Boston Scientific Corporation; BIOTRONIK; Biosensors International Group, Ltd.; Atrium Medical Corporation; Sino Medical Sciences Technology Inc.; Cardinal Health are some of the major players operating in the market.
The drug-eluting stent segment accounts for the highest revenue in product segment of the artificial heart stent market in 2023.
Asia Pacific region held the highest CAGR of the artificial heart stent market.
The Artificial Heart Stent Market is estimated to witness a CAGR of 11.4% from 2023 to 2031
The major factors driving the artificial heart stent market are:
1. Rising Prevalence of Cardiovascular Diseases.
2. Improved Patient Outcomes.
3. Increased Awareness and Screening.
North America region dominated the artificial heart stent market in 2023.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Artificial Heart Stent Market - By Product
1.3.2 Artificial Heart Stent Market - By Application
1.3.3 Artificial Heart Stent Market - By End User
1.3.4 Artificial Heart Stent Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ARTIFICIAL HEART STENT 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. ARTIFICIAL HEART STENT 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. ARTIFICIAL HEART STENT MARKET - GLOBAL MARKET ANALYSIS
6.1. ARTIFICIAL HEART STENT - GLOBAL MARKET OVERVIEW
6.2. ARTIFICIAL HEART STENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ARTIFICIAL HEART STENT MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. BARE-METAL STENT (BMS)
7.3.1. Overview
7.3.2. Bare-Metal Stent (BMS) Market Forecast and Analysis
7.4. DRUG-ELUTING STENT (DES)
7.4.1. Overview
7.4.2. Drug-Eluting Stent (DES) Market Forecast and Analysis
7.5. BIORESORBABLE VASCULAR SCAFFOLD (BVS)
7.5.1. Overview
7.5.2. Bioresorbable Vascular Scaffold (BVS) Market Forecast and Analysis
8. ARTIFICIAL HEART STENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ACUTE MYOCARDIAL INFARCTION
8.3.1. Overview
8.3.2. Acute Myocardial Infarction Market Forecast and Analysis
8.4. UNSTABLE ANGINA
8.4.1. Overview
8.4.2. Unstable Angina Market Forecast and Analysis
8.5. ANGINA PECTORIS
8.5.1. Overview
8.5.2. Angina Pectoris Market Forecast and Analysis
9. ARTIFICIAL HEART STENT 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. AMBULATORY SURGICAL CENTER
9.4.1. Overview
9.4.2. Ambulatory Surgical Center Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. ARTIFICIAL HEART STENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Artificial Heart Stent Market Overview
10.1.2 North America Artificial Heart Stent Market Forecasts and Analysis
10.1.3 North America Artificial Heart Stent Market Forecasts and Analysis - By Product
10.1.4 North America Artificial Heart Stent Market Forecasts and Analysis - By Application
10.1.5 North America Artificial Heart Stent Market Forecasts and Analysis - By End User
10.1.6 North America Artificial Heart Stent Market Forecasts and Analysis - By Countries
10.1.6.1 United States Artificial Heart Stent Market
10.1.6.1.1 United States Artificial Heart Stent Market by Product
10.1.6.1.2 United States Artificial Heart Stent Market by Application
10.1.6.1.3 United States Artificial Heart Stent Market by End User
10.1.6.2 Canada Artificial Heart Stent Market
10.1.6.2.1 Canada Artificial Heart Stent Market by Product
10.1.6.2.2 Canada Artificial Heart Stent Market by Application
10.1.6.2.3 Canada Artificial Heart Stent Market by End User
10.1.6.3 Mexico Artificial Heart Stent Market
10.1.6.3.1 Mexico Artificial Heart Stent Market by Product
10.1.6.3.2 Mexico Artificial Heart Stent Market by Application
10.1.6.3.3 Mexico Artificial Heart Stent Market by End User
10.2. EUROPE
10.2.1 Europe Artificial Heart Stent Market Overview
10.2.2 Europe Artificial Heart Stent Market Forecasts and Analysis
10.2.3 Europe Artificial Heart Stent Market Forecasts and Analysis - By Product
10.2.4 Europe Artificial Heart Stent Market Forecasts and Analysis - By Application
10.2.5 Europe Artificial Heart Stent Market Forecasts and Analysis - By End User
10.2.6 Europe Artificial Heart Stent Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Artificial Heart Stent Market
10.2.6.1.1 Germany Artificial Heart Stent Market by Product
10.2.6.1.2 Germany Artificial Heart Stent Market by Application
10.2.6.1.3 Germany Artificial Heart Stent Market by End User
10.2.6.2 France Artificial Heart Stent Market
10.2.6.2.1 France Artificial Heart Stent Market by Product
10.2.6.2.2 France Artificial Heart Stent Market by Application
10.2.6.2.3 France Artificial Heart Stent Market by End User
10.2.6.3 Italy Artificial Heart Stent Market
10.2.6.3.1 Italy Artificial Heart Stent Market by Product
10.2.6.3.2 Italy Artificial Heart Stent Market by Application
10.2.6.3.3 Italy Artificial Heart Stent Market by End User
10.2.6.4 Spain Artificial Heart Stent Market
10.2.6.4.1 Spain Artificial Heart Stent Market by Product
10.2.6.4.2 Spain Artificial Heart Stent Market by Application
10.2.6.4.3 Spain Artificial Heart Stent Market by End User
10.2.6.5 United Kingdom Artificial Heart Stent Market
10.2.6.5.1 United Kingdom Artificial Heart Stent Market by Product
10.2.6.5.2 United Kingdom Artificial Heart Stent Market by Application
10.2.6.5.3 United Kingdom Artificial Heart Stent Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Artificial Heart Stent Market Overview
10.3.2 Asia-Pacific Artificial Heart Stent Market Forecasts and Analysis
10.3.3 Asia-Pacific Artificial Heart Stent Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Artificial Heart Stent Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Artificial Heart Stent Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Artificial Heart Stent Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Artificial Heart Stent Market
10.3.6.1.1 Australia Artificial Heart Stent Market by Product
10.3.6.1.2 Australia Artificial Heart Stent Market by Application
10.3.6.1.3 Australia Artificial Heart Stent Market by End User
10.3.6.2 China Artificial Heart Stent Market
10.3.6.2.1 China Artificial Heart Stent Market by Product
10.3.6.2.2 China Artificial Heart Stent Market by Application
10.3.6.2.3 China Artificial Heart Stent Market by End User
10.3.6.3 India Artificial Heart Stent Market
10.3.6.3.1 India Artificial Heart Stent Market by Product
10.3.6.3.2 India Artificial Heart Stent Market by Application
10.3.6.3.3 India Artificial Heart Stent Market by End User
10.3.6.4 Japan Artificial Heart Stent Market
10.3.6.4.1 Japan Artificial Heart Stent Market by Product
10.3.6.4.2 Japan Artificial Heart Stent Market by Application
10.3.6.4.3 Japan Artificial Heart Stent Market by End User
10.3.6.5 South Korea Artificial Heart Stent Market
10.3.6.5.1 South Korea Artificial Heart Stent Market by Product
10.3.6.5.2 South Korea Artificial Heart Stent Market by Application
10.3.6.5.3 South Korea Artificial Heart Stent Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Artificial Heart Stent Market Overview
10.4.2 Middle East and Africa Artificial Heart Stent Market Forecasts and Analysis
10.4.3 Middle East and Africa Artificial Heart Stent Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Artificial Heart Stent Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Artificial Heart Stent Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Artificial Heart Stent Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Artificial Heart Stent Market
10.4.6.1.1 South Africa Artificial Heart Stent Market by Product
10.4.6.1.2 South Africa Artificial Heart Stent Market by Application
10.4.6.1.3 South Africa Artificial Heart Stent Market by End User
10.4.6.2 Saudi Arabia Artificial Heart Stent Market
10.4.6.2.1 Saudi Arabia Artificial Heart Stent Market by Product
10.4.6.2.2 Saudi Arabia Artificial Heart Stent Market by Application
10.4.6.2.3 Saudi Arabia Artificial Heart Stent Market by End User
10.4.6.3 U.A.E Artificial Heart Stent Market
10.4.6.3.1 U.A.E Artificial Heart Stent Market by Product
10.4.6.3.2 U.A.E Artificial Heart Stent Market by Application
10.4.6.3.3 U.A.E Artificial Heart Stent Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Artificial Heart Stent Market Overview
10.5.2 South and Central America Artificial Heart Stent Market Forecasts and Analysis
10.5.3 South and Central America Artificial Heart Stent Market Forecasts and Analysis - By Product
10.5.4 South and Central America Artificial Heart Stent Market Forecasts and Analysis - By Application
10.5.5 South and Central America Artificial Heart Stent Market Forecasts and Analysis - By End User
10.5.6 South and Central America Artificial Heart Stent Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Artificial Heart Stent Market
10.5.6.1.1 Brazil Artificial Heart Stent Market by Product
10.5.6.1.2 Brazil Artificial Heart Stent Market by Application
10.5.6.1.3 Brazil Artificial Heart Stent Market by End User
10.5.6.2 Argentina Artificial Heart Stent Market
10.5.6.2.1 Argentina Artificial Heart Stent Market by Product
10.5.6.2.2 Argentina Artificial Heart Stent Market by Application
10.5.6.2.3 Argentina Artificial Heart Stent Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ARTIFICIAL HEART STENT MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Rest of the World
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ARTIFICIAL HEART STENT MARKET, KEY COMPANY PROFILES
13.1. ABBOTT
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. B. BRAUN MELSUNGEN AG
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. TERUMO CORPORATION
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. MEDTRONIC
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. BOSTON SCIENTIFIC CORPORATION
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. BIOTRONIK
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. BIOSENSORS INTERNATIONAL GROUP, LTD.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. ATRIUM MEDICAL CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SINO MEDICAL SCIENCES TECHNOLOGY INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. CARDINAL HEALTH
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Abbott
2. B. Braun Melsungen AG
3. Terumo Corporation
4. Medtronic
5. Boston Scientific Corporation
6. BIOTRONIK
7. Biosensors International Group, Ltd.
8. Atrium Medical Corporation
9. Sino Medical Sciences Technology Inc.
10. Cardinal Health
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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