Butterfly Infusion Sets Market Analysis, Regional and Competitive Landscape Forecast by 2031

Coverage: Butterfly Infusion Sets Market covers analysis By Type (18 to 20-gauge, 21 to 24-gauge, 25 to 27-gauge); Application (Hospitals, Clinics, Other) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00024402
  • Category : Life Sciences
  • No. of Pages : 150
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Butterfly Infusion Sets Market Analysis 2021-2031 | Trends

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The Butterfly Infusion Sets Market is expected to register a CAGR of 6.9% 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 (18 to 20-gauge, 21 to 24-gauge, 25 to 27-gauge); Application (Hospitals, Clinics, Other) . 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 Report

The report Butterfly Infusion Sets 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.

Butterfly Infusion Sets Market Segmentation

Type
  • 18 to 20-gauge
  • 21 to 24-gauge
  • 25 to 27-gauge
Application
  • Hospitals
  • Clinics
  • Other

Strategic Insights

Butterfly Infusion Sets Market Growth Drivers
  • Rising Incidence of Chronic Diseases: Chronic conditions such as diabetes, cancer, and kidney diseases are on the rise, thus there is a need for more frequent intravenous therapy, necessitating the increased use of butterfly infusion sets. These devices offer the risk of pain, and in some cases the pain is minimal making it possible to give certain drugs that are good but have to be administered over a long period. This has resulted in their popularization by both providers and patients in the developed and even the developing worlds.
  • Technological Advancements in Design: In recent years, there has been substantial product innovation in butterfly infusion sets for instance, the invention of easy and safe to use needles which reduces user discomfort and attendant complication incidences like infections. This makes butterfly sets very common in hospitals and clinics thereby causing an upward tendency in the market for these items. Besides, increased performance such as systems without the use of needles helps to fuel up their demand as well.
  • Expanding Healthcare Access in Emerging Markets: High and stratified development of healthcare facilities focused on the population of the countries, mainly in the Asia-Pacific and on the Latin American continents, has spurred the consumption of medical devices including butterfly infusion sets. With the establishment of more hospitals and clinics, improvement in the healthcare systems and availability of such devices, these regions experience a growing trend in the market expansion of such devices.
Butterfly Infusion Sets Market Future Trends
  • Shift Toward Needle-Free Technology: There has been a clear shift in the need for butterfly infusion sets where the present trend tends to favour technologies that do not require a hypodermic needle. These technologies include the use of devices and procedures that help to eliminate the risks of injuries by needle pricks and infections to the patients and also enhance the patients’ comfort levels. Given that most of the healthcare systems are able to concentrate on effective and safe ways of carrying out procedures, more and more needle free infusion devices are likely to be adopted especially in large health facilities such as hospitals and outpatient or retail pharmacies.
  • Increased Adoption of Single-Use, Disposable Infusion Sets: Considerable number of patients is treated with the use of single use, disposable butterfly infusion sets and the particular usage is increasing due to the increasing concerns on hygiene as well as safety of the patients. These sets take away the risk of infection control among the patients and they also help in reducing the workload for sterilization of apparatus in hospitals. There is also an infection prevention as well as patient safety campaign all over the world and most of such factors are expected to exert exertions in support of this habit.
  • Integration of Smart Technologies in Infusion Devices: The other trend that can also be seen is the adoption of smart technologies in butterfly infusion sets. Infusion sets that are equipped by mini sensors or possessing IoT capabilities enable the medical specialist in charge to control the infusion flow and resolve problems in the course of treatment improving its precision. This shifting outlook of medical components into technologically advanced ones is also in the line of sector where the healthcare system is being revolutionized to suit the needs of the patients, hence better results.
Butterfly Infusion Sets Market Opportunities
  • Expansion into Emerging Markets: One of the major prospects for the market butterfly infusion sets is growth in the new economies, mainly in the Asia Pacific, Africa, and the Latin America regions. Since improving healthcare infrastructure and the demand for better medical equipment is on the rise, manufacturers looking to conquer such markets will have to sell affordable and quality butterfly infusion sets thus globalizing their operations.
  • Collaborations with Home Healthcare Providers: With the increase in the number of home healthcare services, an opportunity exists for manufacturers of butterfly infusion set to partner with homecare providers. An infusion set is not invasive, thus is comfortable enough for a patient who has to stay on treatment through infusions for long and in this case at their home. Developing such offerings will allow companies to take advantage of income-generating potential of homecare medicines which is on the increase.
  • Development of Eco-friendly Infusion Sets: The other opportunity is the rising demand for green products from the consumers. Thus, companies can focus on creating butterfly infusion sets that are made of biodegradable or recyclable materials to keep up with the ease in production of over the counter medical devices. This is in agreement with the worldwide initiatives to promote sustainability and also presents an advantage in a market that has turned more green-friendly.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Butterfly Infusion Sets 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 Butterfly Infusion Sets 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


Which segment accounts for highest revenue in type segment of the butterfly infusion setsmarket in 2023?

The 21 to 24-gauge segment accounts for highest revenue in type segment in 2023

Which are some of the major players operating in the market?

B. Braun, Medline, Narang Medical, Advin Urology, Vogt Medical, AdvaCare Pharma, Hindustan Syringes & Medical Devices Ltd., JCM MED, Demophorius Healthcare, Iscon Surgicals Ltd are some of the major market players operating in the market

Which region highest CAGR the butterfly infusion setsmarket in 2023?

Asia Pacific region dominated the butterfly infusion setsmarket in 2023

Which region dominated the butterfly infusion setsmarket in 2023?

North America region dominated the butterfly infusion setsmarket in 2023

What is the expected CAGR of the Butterfly Infusion Sets Market?

The Butterfly Infusion Sets Market is estimated to witness a CAGR of 6.9% from 2023 to 2031

What are the driving factors impacting the butterfly infusion setsmarket?

The major factors driving the butterfly infusion setsmarket are:

1.Rising Incidence of Chronic Diseases

2.Technological Advancements in Design

3. Expanding Healthcare Access in Emerging Markets

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 Butterfly Infusion Sets Market - By Type
1.3.2 Butterfly Infusion Sets Market - By Application
1.3.3 Butterfly Infusion Sets Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. BUTTERFLY INFUSION SETS 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. BUTTERFLY INFUSION SETS 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. BUTTERFLY INFUSION SETS MARKET - GLOBAL MARKET ANALYSIS
6.1. BUTTERFLY INFUSION SETS - GLOBAL MARKET OVERVIEW
6.2. BUTTERFLY INFUSION SETS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. BUTTERFLY INFUSION SETS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. 18 TO 20-GAUGE
7.3.1. Overview
7.3.2. 18 to 20-gauge Market Forecast and Analysis
7.4. 21 TO 24-GAUGE
7.4.1. Overview
7.4.2. 21 to 24-gauge Market Forecast and Analysis
7.5. 25 TO 27-GAUGE
7.5.1. Overview
7.5.2. 25 to 27-gauge Market Forecast and Analysis
8. BUTTERFLY INFUSION SETS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. CLINICS
8.4.1. Overview
8.4.2. Clinics Market Forecast and Analysis
8.5. OTHER
8.5.1. Overview
8.5.2. Other Market Forecast and Analysis

9. BUTTERFLY INFUSION SETS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Butterfly Infusion Sets Market Overview
9.1.2 North America Butterfly Infusion Sets Market Forecasts and Analysis
9.1.3 North America Butterfly Infusion Sets Market Forecasts and Analysis - By Type
9.1.4 North America Butterfly Infusion Sets Market Forecasts and Analysis - By Application
9.1.5 North America Butterfly Infusion Sets Market Forecasts and Analysis - By Countries
9.1.5.1 United States Butterfly Infusion Sets Market
9.1.5.1.1 United States Butterfly Infusion Sets Market by Type
9.1.5.1.2 United States Butterfly Infusion Sets Market by Application
9.1.5.2 Canada Butterfly Infusion Sets Market
9.1.5.2.1 Canada Butterfly Infusion Sets Market by Type
9.1.5.2.2 Canada Butterfly Infusion Sets Market by Application
9.1.5.3 Mexico Butterfly Infusion Sets Market
9.1.5.3.1 Mexico Butterfly Infusion Sets Market by Type
9.1.5.3.2 Mexico Butterfly Infusion Sets Market by Application
9.2. EUROPE
9.2.1 Europe Butterfly Infusion Sets Market Overview
9.2.2 Europe Butterfly Infusion Sets Market Forecasts and Analysis
9.2.3 Europe Butterfly Infusion Sets Market Forecasts and Analysis - By Type
9.2.4 Europe Butterfly Infusion Sets Market Forecasts and Analysis - By Application
9.2.5 Europe Butterfly Infusion Sets Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Butterfly Infusion Sets Market
9.2.5.1.1 Germany Butterfly Infusion Sets Market by Type
9.2.5.1.2 Germany Butterfly Infusion Sets Market by Application
9.2.5.2 France Butterfly Infusion Sets Market
9.2.5.2.1 France Butterfly Infusion Sets Market by Type
9.2.5.2.2 France Butterfly Infusion Sets Market by Application
9.2.5.3 Italy Butterfly Infusion Sets Market
9.2.5.3.1 Italy Butterfly Infusion Sets Market by Type
9.2.5.3.2 Italy Butterfly Infusion Sets Market by Application
9.2.5.4 Spain Butterfly Infusion Sets Market
9.2.5.4.1 Spain Butterfly Infusion Sets Market by Type
9.2.5.4.2 Spain Butterfly Infusion Sets Market by Application
9.2.5.5 United Kingdom Butterfly Infusion Sets Market
9.2.5.5.1 United Kingdom Butterfly Infusion Sets Market by Type
9.2.5.5.2 United Kingdom Butterfly Infusion Sets Market by Application
9.2.5.6 Rest of Europe Butterfly Infusion Sets Market
9.2.5.6.1 Rest of Europe Butterfly Infusion Sets Market by Type
9.2.5.6.2 Rest of Europe Butterfly Infusion Sets Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Butterfly Infusion Sets Market Overview
9.3.2 Asia-Pacific Butterfly Infusion Sets Market Forecasts and Analysis
9.3.3 Asia-Pacific Butterfly Infusion Sets Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Butterfly Infusion Sets Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Butterfly Infusion Sets Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Butterfly Infusion Sets Market
9.3.5.1.1 Australia Butterfly Infusion Sets Market by Type
9.3.5.1.2 Australia Butterfly Infusion Sets Market by Application
9.3.5.2 China Butterfly Infusion Sets Market
9.3.5.2.1 China Butterfly Infusion Sets Market by Type
9.3.5.2.2 China Butterfly Infusion Sets Market by Application
9.3.5.3 India Butterfly Infusion Sets Market
9.3.5.3.1 India Butterfly Infusion Sets Market by Type
9.3.5.3.2 India Butterfly Infusion Sets Market by Application
9.3.5.4 Japan Butterfly Infusion Sets Market
9.3.5.4.1 Japan Butterfly Infusion Sets Market by Type
9.3.5.4.2 Japan Butterfly Infusion Sets Market by Application
9.3.5.5 South Korea Butterfly Infusion Sets Market
9.3.5.5.1 South Korea Butterfly Infusion Sets Market by Type
9.3.5.5.2 South Korea Butterfly Infusion Sets Market by Application
9.3.5.6 Rest of Asia-Pacific Butterfly Infusion Sets Market
9.3.5.6.1 Rest of Asia-Pacific Butterfly Infusion Sets Market by Type
9.3.5.6.2 Rest of Asia-Pacific Butterfly Infusion Sets Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Butterfly Infusion Sets Market Overview
9.4.2 Middle East and Africa Butterfly Infusion Sets Market Forecasts and Analysis
9.4.3 Middle East and Africa Butterfly Infusion Sets Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Butterfly Infusion Sets Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Butterfly Infusion Sets Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Butterfly Infusion Sets Market
9.4.5.1.1 South Africa Butterfly Infusion Sets Market by Type
9.4.5.1.2 South Africa Butterfly Infusion Sets Market by Application
9.4.5.2 Saudi Arabia Butterfly Infusion Sets Market
9.4.5.2.1 Saudi Arabia Butterfly Infusion Sets Market by Type
9.4.5.2.2 Saudi Arabia Butterfly Infusion Sets Market by Application
9.4.5.3 U.A.E Butterfly Infusion Sets Market
9.4.5.3.1 U.A.E Butterfly Infusion Sets Market by Type
9.4.5.3.2 U.A.E Butterfly Infusion Sets Market by Application
9.4.5.4 Rest of Middle East and Africa Butterfly Infusion Sets Market
9.4.5.4.1 Rest of Middle East and Africa Butterfly Infusion Sets Market by Type
9.4.5.4.2 Rest of Middle East and Africa Butterfly Infusion Sets Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Butterfly Infusion Sets Market Overview
9.5.2 South and Central America Butterfly Infusion Sets Market Forecasts and Analysis
9.5.3 South and Central America Butterfly Infusion Sets Market Forecasts and Analysis - By Type
9.5.4 South and Central America Butterfly Infusion Sets Market Forecasts and Analysis - By Application
9.5.5 South and Central America Butterfly Infusion Sets Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Butterfly Infusion Sets Market
9.5.5.1.1 Brazil Butterfly Infusion Sets Market by Type
9.5.5.1.2 Brazil Butterfly Infusion Sets Market by Application
9.5.5.2 Argentina Butterfly Infusion Sets Market
9.5.5.2.1 Argentina Butterfly Infusion Sets Market by Type
9.5.5.2.2 Argentina Butterfly Infusion Sets Market by Application
9.5.5.3 Rest of South and Central America Butterfly Infusion Sets Market
9.5.5.3.1 Rest of South and Central America Butterfly Infusion Sets Market by Type
9.5.5.3.2 Rest of South and Central America Butterfly Infusion Sets Market by Application

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. BUTTERFLY INFUSION SETS MARKET, KEY COMPANY PROFILES
11.1. B. BRAUN
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MEDLINE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. NARANG MEDICAL
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ADVIN UROLOGY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. VOGT MEDICAL
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ADVACARE PHARMA
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HINDUSTAN SYRINGES AND MEDICAL DEVICES LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. JCM MED
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. DEMOPHORIUS HEALTHCARE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ISCON SURGICALS LTD
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

1. B. Braun
2. Medline
3. Narang Medical
4. Advin Urology
5. Vogt Medical
6. AdvaCare Pharma
7. Hindustan Syringes and Medical Devices Ltd.
8. JCM MED
9. Demophorius Healthcare
10. Iscon Surgicals Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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