Breast Imaging Market Updates by 2031
MARKET OVERVIEW
Breast imaging is a type of medical technology that helps to detect or diagnose breast cancer in women. Breast imaging medical technology aids in the diagnosis of various breast-related disorders by providing radiological images of women's breasts. Breast imaging technology includes nuclear imaging, mammography, breast ultrasonography, and magnetic resonance imaging (MRI). This test's major purpose is to detect breast cancer and other breast-related disorders at the earliest possible stage when they are still treatable.
MARKET DRIVERS
The market is likely to be driven by the rising incidence of breast cancer. According to WHO (World Health Organization), in 2021, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2021, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world's most prevalent cancer. In addition, various breast-related disorders such as infections, lesions, and fibrocysts are predicted to drive market expansion. Various companies engage in corporate social responsibility programs that aid in the education of women about breast health and the precautions that should be taken. Companies like GE Healthcare, for example, have created a commercial to raise awareness about breast density and how it affects screening approaches. Over the projection period, this increased awareness is expected to raise demand for the breast imaging products.
Moreover, the emergence and expanding usage of advanced mammography devices with innovative technologies is also fueling the breast imaging market. For instance, in 2021, The Tomosynthesis Biopsy option for the ASPIRE Cristalle mammography system was offered by FUJIFILM's American subsidiary. Clinicians can improve patient diagnostic treatment by using tomosynthesis biopsies to target a lesion that was previously undetected on full-field digital mammography (FFDM) pictures alone. Many businesses are also collaborating and forming partnerships in order to expand their market share. As a result of the aforementioned factors, the market is expected to rise at a rapid pace.
MARKET TRENDS/MARKET SCENARIO
Several companies in the Breast Imaging market are in the process of continuously developing innovative products.
For instance, in December 2019, Hologic, Inc., an innovative medical technology company primarily focused on improving women’s health got U.S. Food and Drug Administration (FDA) clearance and commercial availability of the Company’s Genius AI™ Detection technology, a new deep learning-based software designed to help radiologists detect subtle potential cancers in breast tomosynthesis images.
MARKET SCOPE AND REPORT FEATURES
Our report on "Global Breast Imaging Market Analysis to 2031" encapsulate a detailed market analysis on key segments such as technology and end user of Breast Imaging Market, and a deep dive statistical and qualitative analysis by geography covering five key regions and several countries. As a part of qualitative analysis report offers evaluation of key market dynamics such prevailing market driver, key challenges and opportunities that pave the path for future developments. Further, our analysis on the key competition provide a strategic view point on the market initiatives, SWOT analysis, and highlights on the products and service developments of the players.
MARKET SEGMENTATION
Global Breast Imaging Market – By Technology
- Ionizing Breast Imaging
- Mammography
- Full-field Digital Mammography (FFDM)
- 3D Breast Tomosynthesis
- Analog Mammography
- Positron Emission Tomography-Computed Tomography (PET-CT)
- Molecular Breast Imaging (MBI)
- Positron Emission Mammography (PEM)
- Cone-beam Computed Tomography (CBCT)
- Mammography
- Non-ionizing Breast Imaging
- Breast Ultrasound
- Breast MRI
- Automated Whole-breast Ultrasound (AWBU)
- Breast thermography
- Electric Impedance Tomography
- Optical Imaging
Global Breast Imaging Market – By End User
- Hospitals
- Diagnostic Centers
- Others
REGIONAL INSIGHTS
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
MARKET PLAYERS
The report covers key developments in the Breast Imaging market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Breast Imaging market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Breast Imaging market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- GE Healthcare
- Koninklijke Philips N.V.
- Hologic, Inc.
- Siemens Healthineers
- Fujifilm Holding Corporation
- Canon Medical Systems Corporation
- Aurora Imaging Technologies, Inc.
- Dilon Technologies, Inc.,
- Leica Biosystems Nussloch GmbH (Danaher)
- Planmed Oy
REPORT HIGHLIGHTS
Our report on Breast Imaging Market cover following key parameters:
- Comprehensive market analysis at global, regional and country level
- Detailed PEST (Political, Economic, Social and Technological) factors impacting the market across key geographic regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Market dynamics (drivers, restraints, opportunities, and future trends) and impact analysis of drivers and restraints at short-term, mid-term and long-term
- Market size and forecasts in terms of revenue; 2021 (historic), 2021 (base year), 2022 – 28 (forecast period)
- In-depth market segmentation and deep dive regional and country level analysis of 18+ countries across 5 key regions
- Key company profiles and industry landscape to provide latest market initiatives and competitive landscape
- Impact of COVID`19 pandemic on ecosystem and the market
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Breast Imaging Market - By Product
1.3.2 Breast Imaging Market - By End User
1.3.3 Breast Imaging Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BREAST IMAGING 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. BREAST IMAGING 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. BREAST IMAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. BREAST IMAGING - GLOBAL MARKET OVERVIEW
6.2. BREAST IMAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BREAST IMAGING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. IONIZING BREAST IMAGING TECHNOLOGIES
7.3.1. Overview
7.3.2. Ionizing Breast Imaging Technologies Market Forecast and Analysis
7.3.3. Analog Mammography Market
7.3.3.1. Overview
7.3.3.2. Analog Mammography Market Forecast and Analysis
7.3.4. Full-Field Digital Mammography (FFDM) Market
7.3.4.1. Overview
7.3.4.2. Full-Field Digital Mammography (FFDM) Market Forecast and Analysis
7.3.5. 3D Breast Tomosynthesis Positron Emission Tomography/Computed Tomography (PET/CT) Market
7.3.5.1. Overview
7.3.5.2. 3D Breast Tomosynthesis Positron Emission Tomography/Computed Tomography (PET/CT) Market Forecast and Analysis
7.3.6. Molecular Breast Imaging/Breast-Specific Gamma Imaging (MBI/BSGI) Market
7.3.6.1. Overview
7.3.6.2. Molecular Breast Imaging/Breast-Specific Gamma Imaging (MBI/BSGI) Market Forecast and Analysis
7.3.7. Cone Beam Computed Tomography (CBCT) Market
7.3.7.1. Overview
7.3.7.2. Cone Beam Computed Tomography (CBCT) Market Forecast and Analysis
7.3.8. Positron Emission Mammography (PEM) Market
7.3.8.1. Overview
7.3.8.2. Positron Emission Mammography (PEM) Market Forecast and Analysis
7.4. NON-IONIZING BREAST IMAGING TECHNOLOGIES
7.4.1. Overview
7.4.2. Non-Ionizing Breast Imaging Technologies Market Forecast and Analysis
7.4.3. Breast MRI Market
7.4.3.1. Overview
7.4.3.2. Breast MRI Market Forecast and Analysis
7.4.4. Breast Ultrasound Market
7.4.4.1. Overview
7.4.4.2. Breast Ultrasound Market Forecast and Analysis
7.4.5. Optical Imaging Market
7.4.5.1. Overview
7.4.5.2. Optical Imaging Market Forecast and Analysis
7.4.6. Automated Whole Breast Ultrasound (AWBU) Market
7.4.6.1. Overview
7.4.6.2. Automated Whole Breast Ultrasound (AWBU) Market Forecast and Analysis
7.4.7. Breast Thermography) Market
7.4.7.1. Overview
7.4.7.2. Breast Thermography) Market Forecast and Analysis
8. BREAST IMAGING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. DIAGNOSTIC CENTERS
8.4.1. Overview
8.4.2. Diagnostic Centers Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BREAST IMAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Breast Imaging Market Overview
9.1.2 North America Breast Imaging Market Forecasts and Analysis
9.1.3 North America Breast Imaging Market Forecasts and Analysis - By Product
9.1.4 North America Breast Imaging Market Forecasts and Analysis - By End User
9.1.5 North America Breast Imaging Market Forecasts and Analysis - By Countries
9.1.5.1 United States Breast Imaging Market
9.1.5.1.1 United States Breast Imaging Market by Product
9.1.5.1.2 United States Breast Imaging Market by End User
9.1.5.2 Canada Breast Imaging Market
9.1.5.2.1 Canada Breast Imaging Market by Product
9.1.5.2.2 Canada Breast Imaging Market by End User
9.1.5.3 Mexico Breast Imaging Market
9.1.5.3.1 Mexico Breast Imaging Market by Product
9.1.5.3.2 Mexico Breast Imaging Market by End User
9.2. EUROPE
9.2.1 Europe Breast Imaging Market Overview
9.2.2 Europe Breast Imaging Market Forecasts and Analysis
9.2.3 Europe Breast Imaging Market Forecasts and Analysis - By Product
9.2.4 Europe Breast Imaging Market Forecasts and Analysis - By End User
9.2.5 Europe Breast Imaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Breast Imaging Market
9.2.5.1.1 Germany Breast Imaging Market by Product
9.2.5.1.2 Germany Breast Imaging Market by End User
9.2.5.2 France Breast Imaging Market
9.2.5.2.1 France Breast Imaging Market by Product
9.2.5.2.2 France Breast Imaging Market by End User
9.2.5.3 Italy Breast Imaging Market
9.2.5.3.1 Italy Breast Imaging Market by Product
9.2.5.3.2 Italy Breast Imaging Market by End User
9.2.5.4 Spain Breast Imaging Market
9.2.5.4.1 Spain Breast Imaging Market by Product
9.2.5.4.2 Spain Breast Imaging Market by End User
9.2.5.5 United Kingdom Breast Imaging Market
9.2.5.5.1 United Kingdom Breast Imaging Market by Product
9.2.5.5.2 United Kingdom Breast Imaging Market by End User
9.2.5.6 Rest of Europe Breast Imaging Market
9.2.5.6.1 Rest of Europe Breast Imaging Market by Product
9.2.5.6.2 Rest of Europe Breast Imaging Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Breast Imaging Market Overview
9.3.2 Asia-Pacific Breast Imaging Market Forecasts and Analysis
9.3.3 Asia-Pacific Breast Imaging Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Breast Imaging Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Breast Imaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Breast Imaging Market
9.3.5.1.1 Australia Breast Imaging Market by Product
9.3.5.1.2 Australia Breast Imaging Market by End User
9.3.5.2 China Breast Imaging Market
9.3.5.2.1 China Breast Imaging Market by Product
9.3.5.2.2 China Breast Imaging Market by End User
9.3.5.3 India Breast Imaging Market
9.3.5.3.1 India Breast Imaging Market by Product
9.3.5.3.2 India Breast Imaging Market by End User
9.3.5.4 Japan Breast Imaging Market
9.3.5.4.1 Japan Breast Imaging Market by Product
9.3.5.4.2 Japan Breast Imaging Market by End User
9.3.5.5 South Korea Breast Imaging Market
9.3.5.5.1 South Korea Breast Imaging Market by Product
9.3.5.5.2 South Korea Breast Imaging Market by End User
9.3.5.6 Rest of Asia-Pacific Breast Imaging Market
9.3.5.6.1 Rest of Asia-Pacific Breast Imaging Market by Product
9.3.5.6.2 Rest of Asia-Pacific Breast Imaging Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Breast Imaging Market Overview
9.4.2 Middle East and Africa Breast Imaging Market Forecasts and Analysis
9.4.3 Middle East and Africa Breast Imaging Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Breast Imaging Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Breast Imaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Breast Imaging Market
9.4.5.1.1 South Africa Breast Imaging Market by Product
9.4.5.1.2 South Africa Breast Imaging Market by End User
9.4.5.2 Saudi Arabia Breast Imaging Market
9.4.5.2.1 Saudi Arabia Breast Imaging Market by Product
9.4.5.2.2 Saudi Arabia Breast Imaging Market by End User
9.4.5.3 U.A.E Breast Imaging Market
9.4.5.3.1 U.A.E Breast Imaging Market by Product
9.4.5.3.2 U.A.E Breast Imaging Market by End User
9.4.5.4 Rest of Middle East and Africa Breast Imaging Market
9.4.5.4.1 Rest of Middle East and Africa Breast Imaging Market by Product
9.4.5.4.2 Rest of Middle East and Africa Breast Imaging Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Breast Imaging Market Overview
9.5.2 South and Central America Breast Imaging Market Forecasts and Analysis
9.5.3 South and Central America Breast Imaging Market Forecasts and Analysis - By Product
9.5.4 South and Central America Breast Imaging Market Forecasts and Analysis - By End User
9.5.5 South and Central America Breast Imaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Breast Imaging Market
9.5.5.1.1 Brazil Breast Imaging Market by Product
9.5.5.1.2 Brazil Breast Imaging Market by End User
9.5.5.2 Argentina Breast Imaging Market
9.5.5.2.1 Argentina Breast Imaging Market by Product
9.5.5.2.2 Argentina Breast Imaging Market by End User
9.5.5.3 Rest of South and Central America Breast Imaging Market
9.5.5.3.1 Rest of South and Central America Breast Imaging Market by Product
9.5.5.3.2 Rest of South and Central America Breast Imaging Market by End User
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL BREAST IMAGING MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
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. BREAST IMAGING MARKET, KEY COMPANY PROFILES
12.1. HOLOGIC INC.
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. GE HEALTHCARE
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. SIEMENS HEALTHCARE
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. PHILIPS HEALTHCARE
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. FUJIFILM HOLDINGS CORPORATION
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. GAMMA MEDICA, 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. TOSHIBA 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. SONOCIN
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. AURORA IMAGING TECHNOLOGY, INC.
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. DILON TECHNOLOGIES, INC.
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
The List of Companies
1. Hologic Inc.
2. General Electric Company
3. Siemens Healthcare GmbH
4. Koninklijke Philips N.V.
5. FUJIFILM Corporation
6. CMR Naviscan
7. TOSHIBA CORPORATION
8. SonoCiné
9. Dilon Technologies, Inc.
10. Aurora Imaging Technology, Inc.
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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