Asthma Devices Market Drivers and Opportunities [2021-2031]
The Asthma Devices Market is expected to register a CAGR of 4.9% 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 Type (Inhalers, Nebulizers, Dry Powder Inhalers, Metered-Dose Inhalers, Mesh Nebulizers); Technology (Manually Operated, Digitally Operated); End Users (Hospital, Retail Pharmacies). 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 Asthma Devices 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.
Asthma Devices Market Segmentation
Type- Inhalers
- Nebulizers
- Dry Powder Inhalers
- Metered-Dose Inhalers
- Mesh Nebulizers
- Manually Operated
- Digitally Operated
- Hospital
- Retail Pharmacies
Strategic Insights
Asthma Devices Market Growth Drivers- Increasing Prevalence of Asthma and Respiratory Disorders: With the increasing incidence of asthma and other forms of respiratory illness, the asthma devices market is likely to grow. The increasing number of asthma patients across the globe results in the increasing need for the proper management devices such as inhalers, nebulizers, smart inhalers, and others. Early detection and better disease management encourages the use of asthma devices for managing patients with asthma over prolonged periods.
- Advancements in Device Technology: The market is expected to grow due to the improvements in the devices designed for asthma management. Smart inhalers with sensors and mobile apps allow the tracking of patients’ medication use, adherence and also the condition of patients in real time. These inventions are enhancing treatment compliance and effectiveness which is in turn encouraging the use of modern devices for the management of asthma and also at the same time improving the overall experience and the outcome for the patients.
- Growing Focus on Personalized Healthcare: The increasing tendency towards customized medicine is propelling the growth of the asthma devices market. As there has also been an increasing realization that the management of asthma must be individualized, there is increasing demand for personalized devices. There are improvements in drug delivery, dispersion and surface area coverage and therefore improved control of asthma and better lives for patients, thereby increasing their need in the market.
- Integration of Digital Health and Connectivity: One of the trends witnessed in the asthma devices market today, is the amalgamation of asthma management devices and digital healthcare like the use of apps on mobile phones and cloud systems. These devices are connected and do allow for monitoring, tracking of medication, and reminders of taking medication in real-time. This trend promotes patient's engagement, assists the healthcare practitioners in making the right decisions and helps in the management of asthma better.
- Development of Smart Inhalers: The inclusion of smart inhalers devices has been another trend within the asthma devices market. These inhalers have in-built sensors that are used to monitor their usage, environmental triggers and patient- or provider-satisfactory reporting. The smart inhalers transform asthma management, addressing the achievement of the patients’ compliance regarding medication taking, and offering a tool that is appreciated by the patients as well as the doctors.
- Focus on Pediatric Asthma Devices: Increasing investments on asthma devices that are being designed and developed as per the needs of children is a trend that is on the rise. As asthma is one of the most prevalent chronic disease among children, companies are looking at producing and making available more user friendly devices such as inhalers and nebulizers for the kids. This trend promises to help reduce the treatment gap of asthma among the services seeking younger age groups thereby creating a higher consumer market.
- Expansion into Emerging Markets: The evolution of the market for asthma devices has a lot of room for growth especially in the developing regions of the world where there is also a rising incidence of asthma attributable to environmental degradation. Regions in Asia Pacific, Latin America and Middle East in addition to the rising cases of asthma in such regions also have embracing the health care systems creating a demand for asthma devices and management facilities. Housekeeping distributiony and in country production facilities can also be put into usage in creating the markets, hence increase in business.
- Integration with Telemedicine Services: Another market opportunity can be telemedicine for the asthma devices market. Asthma devices can be linked to telehealth systems to allow remote consultations, monitoring and changes in treatment where necessary using the devices in management systems that will not require direct contact with the patient. Patients who have limited access to healthcare or live in remote areas will benefit from improved asthma care thus helping to widen the scope of the market and make asthma management better and easier.
- Development of Multi-Functional Asthma Devices: The emergence of the asthma devices with new features such as combination inhalers with a monitoring system of environmental triggers devices. These products also provide convenience to the patients as they combine drug delivery and monitoring systems effectively which is a plus in asthma management. This development opens up other markets for asthma devices hence improving patient compliance for asthma devices manufacturers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Asthma Devices 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 Asthma Devices 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
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
The market is expected to grow at a CAGR of 4.9%
Increasing prevalence of asthma and respiratory disorders and advancements in device technology is the major factors boosting the asthma devices market growth
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
The North America region accounts for highest revenue share asthma devices market
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional
/
country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
GlaxoSmithKline Plc, Merck and Co., Inc., Aristopharma Ltd., 3M, SRS PHARMACEUTICALS PVT. LTD., AstraZeneca, Baxter, Boehringer Ingelheim GmbH, Koninklijke Philips N.V, Teva Pharmaceuticals Industries Ltd. are the some of the key market players operating in the asthma devices market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Asthma Devices Market - By Type
1.3.2 Asthma Devices Market - By Technology
1.3.3 Asthma Devices Market - By End Users
1.3.4 Asthma Devices Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ASTHMA DEVICES 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. ASTHMA DEVICES 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. ASTHMA DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. ASTHMA DEVICES - GLOBAL MARKET OVERVIEW
6.2. ASTHMA DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ASTHMA DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. INHALERS
7.3.1. Overview
7.3.2. Inhalers Market Forecast and Analysis
7.4. NEBULIZERS
7.4.1. Overview
7.4.2. Nebulizers Market Forecast and Analysis
7.5. DRY POWDER INHALERS
7.5.1. Overview
7.5.2. Dry Powder Inhalers Market Forecast and Analysis
7.6. METERED-DOSE INHALERS
7.6.1. Overview
7.6.2. Metered-Dose Inhalers Market Forecast and Analysis
7.7. MESH NEBULIZERS
7.7.1. Overview
7.7.2. Mesh Nebulizers Market Forecast and Analysis
8. ASTHMA DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. MANUALLY OPERATED
8.3.1. Overview
8.3.2. Manually Operated Market Forecast and Analysis
8.4. DIGITALLY OPERATED
8.4.1. Overview
8.4.2. Digitally Operated Market Forecast and Analysis
9. ASTHMA DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
9.1. OVERVIEW
9.2. END USERS MARKET FORECASTS AND ANALYSIS
9.3. HOSPITAL
9.3.1. Overview
9.3.2. Hospital Market Forecast and Analysis
9.4. RETAIL PHARMACIES
9.4.1. Overview
9.4.2. Retail Pharmacies Market Forecast and Analysis
10. ASTHMA DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Asthma Devices Market Overview
10.1.2 North America Asthma Devices Market Forecasts and Analysis
10.1.3 North America Asthma Devices Market Forecasts and Analysis - By Type
10.1.4 North America Asthma Devices Market Forecasts and Analysis - By Technology
10.1.5 North America Asthma Devices Market Forecasts and Analysis - By End Users
10.1.6 North America Asthma Devices Market Forecasts and Analysis - By Countries
10.1.6.1 United States Asthma Devices Market
10.1.6.1.1 United States Asthma Devices Market by Type
10.1.6.1.2 United States Asthma Devices Market by Technology
10.1.6.1.3 United States Asthma Devices Market by End Users
10.1.6.2 Canada Asthma Devices Market
10.1.6.2.1 Canada Asthma Devices Market by Type
10.1.6.2.2 Canada Asthma Devices Market by Technology
10.1.6.2.3 Canada Asthma Devices Market by End Users
10.1.6.3 Mexico Asthma Devices Market
10.1.6.3.1 Mexico Asthma Devices Market by Type
10.1.6.3.2 Mexico Asthma Devices Market by Technology
10.1.6.3.3 Mexico Asthma Devices Market by End Users
10.2. EUROPE
10.2.1 Europe Asthma Devices Market Overview
10.2.2 Europe Asthma Devices Market Forecasts and Analysis
10.2.3 Europe Asthma Devices Market Forecasts and Analysis - By Type
10.2.4 Europe Asthma Devices Market Forecasts and Analysis - By Technology
10.2.5 Europe Asthma Devices Market Forecasts and Analysis - By End Users
10.2.6 Europe Asthma Devices Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Asthma Devices Market
10.2.6.1.1 Germany Asthma Devices Market by Type
10.2.6.1.2 Germany Asthma Devices Market by Technology
10.2.6.1.3 Germany Asthma Devices Market by End Users
10.2.6.2 France Asthma Devices Market
10.2.6.2.1 France Asthma Devices Market by Type
10.2.6.2.2 France Asthma Devices Market by Technology
10.2.6.2.3 France Asthma Devices Market by End Users
10.2.6.3 Italy Asthma Devices Market
10.2.6.3.1 Italy Asthma Devices Market by Type
10.2.6.3.2 Italy Asthma Devices Market by Technology
10.2.6.3.3 Italy Asthma Devices Market by End Users
10.2.6.4 Spain Asthma Devices Market
10.2.6.4.1 Spain Asthma Devices Market by Type
10.2.6.4.2 Spain Asthma Devices Market by Technology
10.2.6.4.3 Spain Asthma Devices Market by End Users
10.2.6.5 United Kingdom Asthma Devices Market
10.2.6.5.1 United Kingdom Asthma Devices Market by Type
10.2.6.5.2 United Kingdom Asthma Devices Market by Technology
10.2.6.5.3 United Kingdom Asthma Devices Market by End Users
10.2.6.6 Rest of Europe Asthma Devices Market
10.2.6.6.1 Rest of Europe Asthma Devices Market by Type
10.2.6.6.2 Rest of Europe Asthma Devices Market by Technology
10.2.6.6.3 Rest of Europe Asthma Devices Market by End Users
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Asthma Devices Market Overview
10.3.2 Asia-Pacific Asthma Devices Market Forecasts and Analysis
10.3.3 Asia-Pacific Asthma Devices Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Asthma Devices Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Asthma Devices Market Forecasts and Analysis - By End Users
10.3.6 Asia-Pacific Asthma Devices Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Asthma Devices Market
10.3.6.1.1 Australia Asthma Devices Market by Type
10.3.6.1.2 Australia Asthma Devices Market by Technology
10.3.6.1.3 Australia Asthma Devices Market by End Users
10.3.6.2 China Asthma Devices Market
10.3.6.2.1 China Asthma Devices Market by Type
10.3.6.2.2 China Asthma Devices Market by Technology
10.3.6.2.3 China Asthma Devices Market by End Users
10.3.6.3 India Asthma Devices Market
10.3.6.3.1 India Asthma Devices Market by Type
10.3.6.3.2 India Asthma Devices Market by Technology
10.3.6.3.3 India Asthma Devices Market by End Users
10.3.6.4 Japan Asthma Devices Market
10.3.6.4.1 Japan Asthma Devices Market by Type
10.3.6.4.2 Japan Asthma Devices Market by Technology
10.3.6.4.3 Japan Asthma Devices Market by End Users
10.3.6.5 South Korea Asthma Devices Market
10.3.6.5.1 South Korea Asthma Devices Market by Type
10.3.6.5.2 South Korea Asthma Devices Market by Technology
10.3.6.5.3 South Korea Asthma Devices Market by End Users
10.3.6.6 Rest of Asia-Pacific Asthma Devices Market
10.3.6.6.1 Rest of Asia-Pacific Asthma Devices Market by Type
10.3.6.6.2 Rest of Asia-Pacific Asthma Devices Market by Technology
10.3.6.6.3 Rest of Asia-Pacific Asthma Devices Market by End Users
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Asthma Devices Market Overview
10.4.2 Middle East and Africa Asthma Devices Market Forecasts and Analysis
10.4.3 Middle East and Africa Asthma Devices Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Asthma Devices Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Asthma Devices Market Forecasts and Analysis - By End Users
10.4.6 Middle East and Africa Asthma Devices Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Asthma Devices Market
10.4.6.1.1 South Africa Asthma Devices Market by Type
10.4.6.1.2 South Africa Asthma Devices Market by Technology
10.4.6.1.3 South Africa Asthma Devices Market by End Users
10.4.6.2 Saudi Arabia Asthma Devices Market
10.4.6.2.1 Saudi Arabia Asthma Devices Market by Type
10.4.6.2.2 Saudi Arabia Asthma Devices Market by Technology
10.4.6.2.3 Saudi Arabia Asthma Devices Market by End Users
10.4.6.3 U.A.E Asthma Devices Market
10.4.6.3.1 U.A.E Asthma Devices Market by Type
10.4.6.3.2 U.A.E Asthma Devices Market by Technology
10.4.6.3.3 U.A.E Asthma Devices Market by End Users
10.4.6.4 Rest of Middle East and Africa Asthma Devices Market
10.4.6.4.1 Rest of Middle East and Africa Asthma Devices Market by Type
10.4.6.4.2 Rest of Middle East and Africa Asthma Devices Market by Technology
10.4.6.4.3 Rest of Middle East and Africa Asthma Devices Market by End Users
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Asthma Devices Market Overview
10.5.2 South and Central America Asthma Devices Market Forecasts and Analysis
10.5.3 South and Central America Asthma Devices Market Forecasts and Analysis - By Type
10.5.4 South and Central America Asthma Devices Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Asthma Devices Market Forecasts and Analysis - By End Users
10.5.6 South and Central America Asthma Devices Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Asthma Devices Market
10.5.6.1.1 Brazil Asthma Devices Market by Type
10.5.6.1.2 Brazil Asthma Devices Market by Technology
10.5.6.1.3 Brazil Asthma Devices Market by End Users
10.5.6.2 Argentina Asthma Devices Market
10.5.6.2.1 Argentina Asthma Devices Market by Type
10.5.6.2.2 Argentina Asthma Devices Market by Technology
10.5.6.2.3 Argentina Asthma Devices Market by End Users
10.5.6.3 Rest of South and Central America Asthma Devices Market
10.5.6.3.1 Rest of South and Central America Asthma Devices Market by Type
10.5.6.3.2 Rest of South and Central America Asthma Devices Market by Technology
10.5.6.3.3 Rest of South and Central America Asthma Devices Market by End Users
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. ASTHMA DEVICES MARKET, KEY COMPANY PROFILES
12.1. GLAXOSMITHKLINE PLC.
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. MERCK AND CO., 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. ARISTOPHARMA 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. 3M
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. SRS PHARMACEUTICALS PVT. LTD.
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. ASTRAZENECA
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. BAXTER
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. BOEHRINGER INGELHEIM GMBH
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. KONINKLIJKE PHILIPS N.V
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. TEVA PHARMACEUTICAL INDUSTRIES 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. GlaxoSmithKline plc.
2. Merck and Co., Inc
3. Aristopharma Ltd.
4. 3M
5. SRS PHARMACEUTICALS PVT. LTD.
6. AstraZeneca
7. Baxter
8. Boehringer Ingelheim GmbH
9. Koninklijke Philips N.V
10. Teva Pharmaceutical Industries 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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