Asia Pacific Eye Health Supplement Market to Grow at a CAGR of 6.2% to reach US$ 593.12 Million from 2020 to 2027
The Asia Pacific Eye Health Supplement market is expected to reach US$ 593.12 million by 2027 from US$ 370.69 million in 2019; it is anticipated to grow at a CAGR of 6.2% during 2019–2027.
The key factors driving the market growth are increasing emphasis preventive care, considerable rise in eye diseases, and aging population. In addition, growing adoption dietary supplements and nutritional products is also expected to drive the market growth by 2027. However, high costs associated to Eye Health Supplement and limited availability of product in Asia Pacific Eye Health Supplement market is the major factor hindering the market growth in Asia Pacific.
Eye supplements are nutritional products which care recommended to maintain eye health and good vision. The eye health supplements prominently comprises vitamin A, lutein & Zeaxanthin, omega 3 fatty acids, gamma-linoleic acid, and others. These nutritional supplements helps to sustain eye function, reduce the development of age-related eye diseases, and protect eyes against harmful light. Eye health supplements can be useful over range of eye diseases such as dry eye, age-related macular degeneration, glaucoma, diabetic retinopathy, and cataracts amongst others. Increasing prevalence of eye diseases coupled with aging population is likely to drive the growth of the eye health supplement market during the forecast period.
Growing prevalence of eye disorders and abnormalities is anticipated to drive the adoption of eye health supplements, which would eventually drive the eye health supplements market during the forecast period. For instance, according to the study in April 2019, “Prevalence of refractive errors, uncorrected refractive error, and presbyopia in adults in India, published by the Indian Journal of Ophthalmology, the prevalence of refractive errors, of at least 0.50 D of spherical equivalent ametropia was 53.1%. In addition, the prevalence of uncorrected refractive error was 10.2% in the study population. Moreover, as per a study reported by International Finance Corporation, China is witnessing a 6.0% increase in blindness cases annually, accommodating nearly one-fifth of the world’s blind population in the country.
Herbalife Nutrition Ltd., Alcon Inc., Bausch Health Companies Inc. are among the major companies in Eye Health Supplement market.
COVID-19 pandemic has become the most significant challenge across the Asia Pacific region. This challenge will be frightening the countries across the region as it will lead to reducing imports due to disruptions in global trade, which further increases the shortages of eye health supplements, resulting in a considerable price increase. Manufacturers are also experiencing raised prices and potential shortages of raw ingredients due to supply restrictions.
China Eye Health Supplement Market, Revenue and Forecast to 2027 (US$ Mn)
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ASIA PACIFIC EYE HEALTH SUPPLEMENT MARKET SEGMENTATION
ASIA PACIFIC EYE HEALTH SUPPLEMENT MARKET SEGMENTATION
By Ingredient Type
- Lutein and Zeaxanthin
- Antioxidants
- Omega-3 fatty acids
- Coenzyme Q10
- Flavonoids
- Astaxanthin
- Alpha-Lipoic acid
- Others
By Indication
- Age-related macular degeneration (AMD)
- Cataract
- Dry eye syndrome
- Others
By Forms
- Tablet
- Capsule
- Drops
By Country
- Japan
- China
- India
- South Korea
- Australia
- Rest of the Asia Pacific
Company Profiles
- Nordic Naturals
- Herbalife Nutrition Ltd.
- The Nature's Bounty Co
- AMWAY
- Pfizer Inc.
- Alcon Inc.
- Bausch Health Companies Inc.
- Vitabiotics Ltd.
- Alliance Pharma PLC
- Allergan Plc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Ingredient type, Indication, and Form, and Countries
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Eye Health Supplements Market – By Indication
1.3.2 Asia Pacific Eye Health Supplements Market – By Ingredient Type
1.3.3 Asia Pacific Eye Health Supplements Market – By Form
1.3.4 Asia Pacific Eye Health Supplements market – By Countries
2. Asia Pacific Eye Health Supplement Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Eye Health Supplement Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Eye Health Supplement Market - Asia Pacific PEST Analysis
4.3 Expert Opinion
5. Asia Pacific Eye Health Supplement Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Prevalence of Eye Diseases
5.1.2 Aging Population
5.2 Key Market Restraints
5.2.1 High Cost of Supplements and Lack of Product Availability in Market
5.3 Key Market Opportunities
5.3.1 Increasing Number of Industrial Developments
5.4 Future Trends
5.4.1 Changes in Lifestyle
5.5 Impact Analysis of Drivers and Restraints
6. Eye Health Supplement Market – Asia Pacific Analysis
6.1 Asia Pacific Eye Health Supplement Market Revenue Forecast And Analysis
6.2 Asia Pacific Eye Health Supplement Market, By Countries - Forecast And Analysis
6.3 Market Positioning of Key Players
7. Asia Pacific Eye Health Supplement Market Analysis – By Indication
7.1 Overview
7.2 Asia Pacific Eye Health Supplement Market Revenue Share, by Indication (2019 and 2027)
7.3 Age-related Macular Degeneration (AMD)
7.3.1 Overview
7.3.1.1 Age-related Macular Degeneration (AMD): Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
7.4 Cataract
7.4.1 Overview
7.4.1.1 Cataract: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
7.5 Dry Eye Syndrome
7.5.1 Overview
7.5.1.1 Dry Eye Syndrome: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
7.6 Others
7.6.1 Overview
7.6.1.1 Others: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
8. Asia Pacific Eye Health Supplement Market Analysis – By Ingredient Type
8.1 Overview
8.2 Eye Health Supplement Market Revenue Share, by Product (2019 and 2027)
8.3 Lutein and Zeaxanthin
8.3.1 Overview
8.3.1.1 Lutein and Zeaxanthin: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.4 Antioxidants
8.4.1 Overview
8.4.1.1 Antioxidants: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.5 Omega-3 Fatty Acids
8.5.1 Overview
8.5.1.1 Omega-3 Fatty Acids: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.6 Coenzyme Q10
8.6.1 Overview
8.6.1.1 Coenzyme Q10: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.7 Flavonoids
8.7.1 Overview
8.7.1.1 Flavonoids: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.8 Astaxanthin
8.8.1 Overview
8.8.1.1 Astaxanthin: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.9 AlphaLipoic Acid
8.9.1 Overview
8.9.1.1 AlphaLipoic Acid: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
8.10 Others
8.10.1 Overview
8.10.1.1 Others: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
9. Asia Pacific Eye Health Supplement Market Analysis – By Form
9.1 Overview
9.2 Asia Pacific Eye Health Supplement Market Share, by Forms, 2019 and 2027, (%)
9.3 Tablet
9.3.1 Overview
9.3.1.1 Tablet: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
9.4 Capsule
9.4.1 Overview
9.4.1.1 Capsule: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
9.5 Drops
9.5.1 Overview
9.5.1.1 Drops: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
10. Asia Pacific Eye Health Supplement Market Analysis And Forecasts To 2027 – Regional Analysis
10.1 Asia Pacific: Eye Health Supplements Market
10.1.1 Overview
10.1.2 Asia Pacific: Eye Health Supplements Market - Revenue and Forecast to 2027 (USD Million)
10.1.3 Asia Pacific: Eye Health Supplements Market, by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
10.1.4 Asia Pacific: Eye Health Supplements Market, by Indication – Revenue and Forecast to 2027 (USD Million)
10.1.5 Asia Pacific: Eye Health Supplements Market, Form – Revenue and Forecast to 2027 (USD Million)
10.1.6 Asia Pacific: Eye Health Supplements Market, by Country, 2019 & 2027 (%)
10.1.6.1 China: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.1.1 China: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.1.2 China: Eye Health Supplements Market , by Ingredient Type, 2018–2027 (USD Million)
10.1.6.1.3 China: Eye Health Supplements Market , by Indication, 2018–2027 (USD Million)
10.1.6.1.4 China: Eye Health Supplements Market , by Form, 2018–2027 (USD Million)
10.1.6.2 Japan: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.2.1 Japan: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.2.2 Japan: Eye Health Supplements Market , by Ingredient Type, 2018–2027 (USD Million)
10.1.6.2.3 Japan: Eye Health Supplements Market , by Indication, 2018–2027 (USD Million)
10.1.6.2.4 Japan: Eye Health Supplements Market , by Form, 2018–2027 (USD Million)
10.1.6.3 India: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.3.1 India: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.3.2 India: Eye Health Supplements Market , by Ingredient Type, 2018–2027 (USD Million)
10.1.6.3.3 India: Eye Health Supplements Market , by Indication, 2018–2027 (USD Million)
10.1.6.3.4 India: Eye Health Supplements Market , by Form, 2018–2027 (USD Million)
10.1.6.4 South Korea: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.4.1 South Korea: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.4.2 South Korea: Eye Health Supplements Market , by Ingredient Type, 2018–2027 (USD Million)
10.1.6.4.3 South Korea: Eye Health Supplements Market , by Indication, 2018–2027 (USD Million)
10.1.6.4.4 South Korea: Eye Health Supplements Market , by Form, 2018–2027 (USD Million)
10.1.6.5 Australia: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.5.1 Australia: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.5.2 Australia: Eye Health Supplements Market , by Ingredient Type, 2018–2027 (USD Million)
10.1.6.5.3 Australia: Eye Health Supplements Market , by Indication, 2018–2027 (USD Million)
10.1.6.5.4 Australia: Eye Health Supplements Market , by Form, 2018–2027 (USD Million)
11. Impact of COVID-19 Pandemic on Asia Pacific Eye Health Supplement Market
11.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
12.1 Nordic Naturals
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 Herbalife Nutrition Ltd.
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 The Nature's Bounty Co
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 AMWAY
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 Pfizer 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 Alcon 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 Bausch Health Companies Inc.
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 Vitabiotics Ltd.
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 Alliance Pharma PLC
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 Allergan Plc.
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
LIST OF TABLES
Table 1. Asia Pacific: Eye Health Supplements Market, by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 2. Asia Pacific: Eye Health Supplements Market, by Indication – Revenue and Forecast to 2027 (USD Million)
Table 3. Asia Pacific: Eye Health Supplements Market, Form – Revenue and Forecast to 2027 (USD Million)
Table 4. China Eye Health Supplements Market , by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 5. China Eye Health Supplements Market , by Indication– Revenue and Forecast to 2027 (USD Million)
Table 6. China Eye Health Supplements Market , by Form– Revenue and Forecast to 2027 (USD Million)
Table 7. Japan Eye Health Supplements Market , by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 8. Japan Eye Health Supplements Market , by Indication– Revenue and Forecast to 2027 (USD Million)
Table 9. Japan Eye Health Supplements Market , by Form– Revenue and Forecast to 2027 (USD Million)
Table 10. India Eye Health Supplements Market , by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 11. India Eye Health Supplements Market , by Indication– Revenue and Forecast to 2027 (USD Million)
Table 12. India Eye Health Supplements Market , by Form– Revenue and Forecast to 2027 (USD Million)
Table 13. South Korea Eye Health Supplements Market , by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 14. South Korea Eye Health Supplements Market , by Indication– Revenue and Forecast to 2027 (USD Million)
Table 15. South Korea Eye Health Supplements Market , by Form– Revenue and Forecast to 2027 (USD Million)
Table 16. Australia Eye Health Supplements Market , by Ingredient Type – Revenue and Forecast to 2027 (USD Million)
Table 17. Australia Eye Health Supplements Market , by Indication– Revenue and Forecast to 2027 (USD Million)
Table 18. Australia Eye Health Supplements Market , by Form– Revenue and Forecast to 2027 (USD Million)
Table 19. Glossary of Terms, Eye Health Supplements Market
LIST OF FIGURES
Figure 1. Eye Health Supplement Market Segmentation
Figure 2. Asia Pacific Eye Health Supplement Market Segmentation – By Countries
Figure 3. Asia Pacific Eye Health Supplement Market Overview
Figure 4. Age-related Macular Degeneration (AMD) Indication Segment Held Largest Share of Asia Pacific Eye Health Supplement Market
Figure 5. Eye Health Supplement Market - Asia Pacific PEST Analysis
Figure 6. Asia Pacific Eye Health Supplement Market Impact Analysis of Drivers and Restraint
Figure 7. Asia Pacific Eye Health Supplement Market – Revenue Forecast And Analysis – 2019- 2027 (US$ Million)
Figure 8. Asia Pacific Eye Health Supplement Market – By Countries Forecast and Analysis – 2019- 2027
Figure 9. Market Positioning Of Key Players In Asia Pacific Eye Health Supplement Market
Figure 10. Asia Pacific Eye Health Supplement Market Revenue Share, by Indication (2019 and 2027)
Figure 11. Age-related Macular Degeneration (AMD): Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
Figure 12. Cataract: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
Figure 13. Dry Eye Syndrome: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
Figure 14. Others: Asia Pacific Eye Health Supplements Market– Revenue and Forecast to 2027 (US$ million)
Figure 15. Eye Health Supplement Market Revenue Share, by Product (2019 and 2027)
Figure 16. Lutein and Zeaxanthin: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 17. Antioxidants: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 18. Omega-3 Fatty Acids: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 19. Coenzyme Q10: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 20. Flavonoids: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 21. Astaxanthin: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 22. AlphaLipoic Acid: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 23. Others: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 24. Asia Pacific Eye Health Supplement Market Share, by Forms, 2019 and 2027 (%)
Figure 25. Tablet: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 26. Capsule: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 27. Drops: Eye Health Supplements Market Market– Revenue and Forecast to 2027 (US$ million)
Figure 28. Asia Pacific: Eye Health Supplements Market , by Key Country – Revenue (2019) (USD Million)
Figure 29. Asia Pacific: Eye Health Supplements Market Revenue and Forecast to 2027 (USD Million)
Figure 30. Asia Pacific: Eye Health Supplements Market, by Country, 2019 & 2027 (%)
Figure 31. China: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
Figure 32. Japan: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
Figure 33. India: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
Figure 34. South Korea: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
Figure 35. Australia: Eye Health Supplements Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
- Nordic Naturals
- Herbalife Nutrition Ltd.
- The Nature's Bounty Co
- AMWAY
- Pfizer Inc.
- Alcon Inc.
- Bausch Health Companies Inc.
- Vitabiotics Ltd.
- Alliance Pharma PLC
- Allergan Plc.
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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