Cardiovascular Implants Market Growth Drivers by 2031
The Cardiovascular Implants Market is expected to register a CAGR of 7.9% 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 Product (Coronary Stent Devices, Prosthetic Heart Valves, Cardiac Rhythm Management Devices). The report further presents analysis based on the Application (Congestive Heart Failure, Arrhythmias, Acute Myocardial Infarction, Myocardial Ischemia, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Cardiovascular Implants 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.
Cardiovascular Implants Market Segmentation
Product- Coronary Stent Devices
- Prosthetic Heart Valves
- Cardiac Rhythm Management Devices
- Congestive Heart Failure
- Arrhythmias
- Acute Myocardial Infarction
- Myocardial Ischemia
- Others
Strategic Insights
Cardiovascular Implants Market Growth Drivers- Incidence of CVDs: This largely makes the market for cardiovascular implants huge owing to the steadily increasing incidence of CVDs. Other cases, including sedentary living, unhealthy diet plans, and geriatric populations growing, have resulted in heart-related cases. The demand for such implants as stents, pacemakers, and heart valves thereby increases, hence encouraging innovation in the implant technology field that involves advanced materials and minimally invasive procedures hence better patient outcomes. Furthermore, with the healthcare systems now focusing more on chronic management, it is expected to grow in investments in cardiovascular solutions, expanding the market even further.
- Aging Population: The demographic driver of the cardiovascular implants market is critical, as the aging population harbors members much more prone to cardiovascular diseases. It, therefore, calls for a demand for such interventions as stents, pacemakers, and heart valves as the population ages. Changing demographics force healthcare providers to consider management of CVDs in this group and push the need for implant technologies targeted at older patients. Henceforth, with an aging population, cardiovascular care expenditures are likely to increase in the future years and therefore help expand market growth.
- Technological Advancement in Materials: Technological advancement in materials is driving change in the cardiovascular implants market with enhanced safety and performance. New materials such as biodegradable polymers, drug-eluting stents, and biocompatibility minimize complications and improve patient outcomes. Such advanced materials make much efficient integration within a body and minimize risks of rejection and thrombosis. In fact, smart materials with 'response to physiological changes' represent the best potential for future implants.
- Robotics and Minimally Invasive Technique: The developments in robotics and minimal invasive techniques are, in fact, altering the playing dynamics of the cardiovascular implants market by increasing precision with surgical techniques and reducing recovery time. Robotic-assisted surgeries give more precision than normal surgical procedures, where it has been found that surgeons can perform complex procedures with higher accuracy and less trauma to tissues around the area. Moreover, advanced imaging technologies used within robotic systems provide greater visualization for surgeons of their surgical sites, which have improved decision-making during procedures.
- 3D Printing: 3D printing is greatly disrupting the cardiovascular implants market, and it now makes it possible to offer patient-specific, novel solutions. The customized implants, therefore, can be designed accurately to fit any individual's anatomy. The role of customization has been quite vital in complex cases, more so with congenital heart defects. With improving technology, especially low-volume or specialty cases, there will be a great reduction in the production costs for certain types of implants.
- Remote Monitoring: Remote monitoring and telehealth are transforming the landscape of cardiovascular implants, resulting in better care for and management of patients. Wearable devices and implantable sensors permit continuous monitoring of heart health to facilitate real-time data gathering and early detection, possible through timely intervention. Remote monitoring can reduce the necessity of in-person appointments, thus making healthcare more patient-friendly and relatively less burdensome for the health systems.
- Regulatory approval policies and reimbursement: Regulatory approval policies and reimbursement practices frame the cardiovascular implant market. The FDA, EMA, or such agencies' streamlined procedures make it easy for new cardiovascular implants to be able to hit the market promptly. Fast-track designations and breakthrough device programs allow for quicker entry into the market for such highly advanced technologies. Reimbursement policy, therefore, comprises an important element toward improving market penetration. New devices' coverage will bring about the usage of advanced implants in health facilities since the financial burden on patients is lowered.
- Wearable Technology: Wearable technology is increasingly affecting the cardiovascular implant market and gaining momentum for enhanced monitoring and preventive care. Smartwatches and fitness monitors can track heart rates continuously, alerting users to anomalies that can lead to early interventions. An approach that increases awareness in cardiovascular health and augments demand for implants at the time of an issue's detection is the best use of such technology. Moreover, information gathered from wearable devices will enable a doctor to understand conditions at the patient level, hence strategizing on better treatment. Further technology advancement may see the wearing of implants as the future cardiovascular solution because it is progressively becoming smarter and more effective.
- Collaboration and Partnership: Innovations and expansion in the cardiovascular implants market require collaborations and partnerships. Medical device companies in cooperation with technology companies can develop advanced cardiovascular implants with smart technologies, such as remote monitoring and data analytics. Reaching out to hospitals and clinics would allow manufacturers a better understanding of patient needs and preferences-resulting in better-targeted products and services.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cardiovascular Implants 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 Cardiovascular Implants Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Players operating in the market are Terumo Corp, Edwards Lifescience Corp, Cook, Medtronic, Boston Scientific, Abbott, Biotronik, and Integra Lifesciences
External Beam Radiation Therapy segment, by product, dominated the market in 2023.
Asia Pacific region dominated the Cardiovascular implants market in 2023.
Robotics and Minimally Invasive Technique act as a trend for growth of the market in forecast period.
The Cardiovascular Implants Market is estimated to witness a CAGR of 7.9% from 2023 to 2031
The major factors driving the Cardiovascular implants market are:
1. Incidence of CVDs
2.Aging Population
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cardiovascular Implants Market - By Product
1.3.2 Cardiovascular Implants Market - By Application
1.3.3 Cardiovascular Implants Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. CARDIOVASCULAR IMPLANTS 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. CARDIOVASCULAR IMPLANTS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. CARDIOVASCULAR IMPLANTS MARKET - GLOBAL MARKET ANALYSIS
6.1. CARDIOVASCULAR IMPLANTS - GLOBAL MARKET OVERVIEW
6.2. CARDIOVASCULAR IMPLANTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CARDIOVASCULAR IMPLANTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CORONARY STENT DEVICES
7.3.1. Overview
7.3.2. Coronary Stent Devices Market Forecast and Analysis
7.3.3. Bare Metal Stents Market
7.3.3.1. Overview
7.3.3.2. Bare Metal Stents Market Forecast and Analysis
7.3.4. Bioabsorbable Stents Market
7.3.4.1. Overview
7.3.4.2. Bioabsorbable Stents Market Forecast and Analysis
7.3.5. Drug Eluting Stents Market
7.3.5.1. Overview
7.3.5.2. Drug Eluting Stents Market Forecast and Analysis
7.4. PROSTHETIC HEART VALVES
7.4.1. Overview
7.4.2. Prosthetic Heart Valves Market Forecast and Analysis
7.4.3. Transcatheter Aortic Valve Implantation Market
7.4.3.1. Overview
7.4.3.2. Transcatheter Aortic Valve Implantation Market Forecast and Analysis
7.4.4. Mechanical Heart Valve Market
7.4.4.1. Overview
7.4.4.2. Mechanical Heart Valve Market Forecast and Analysis
7.4.5. Tissue Heart Valve Market
7.4.5.1. Overview
7.4.5.2. Tissue Heart Valve Market Forecast and Analysis
7.5. CARDIAC RHYTHM MANAGEMENT DEVICES
7.5.1. Overview
7.5.2. Cardiac Rhythm Management Devices Market Forecast and Analysis
7.5.3. Pacemaker Market
7.5.3.1. Overview
7.5.3.2. Pacemaker Market Forecast and Analysis
7.5.4. Cardiac Resynchronization Therapy Devices Market
7.5.4.1. Overview
7.5.4.2. Cardiac Resynchronization Therapy Devices Market Forecast and Analysis
7.5.5. Implantable Cardioverter Defibrillator Devices Market
7.5.5.1. Overview
7.5.5.2. Implantable Cardioverter Defibrillator Devices Market Forecast and Analysis
8. CARDIOVASCULAR IMPLANTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CONGESTIVE HEART FAILURE
8.3.1. Overview
8.3.2. Congestive Heart Failure Market Forecast and Analysis
8.4. ARRHYTHMIAS
8.4.1. Overview
8.4.2. Arrhythmias Market Forecast and Analysis
8.5. ACUTE MYOCARDIAL INFARCTION
8.5.1. Overview
8.5.2. Acute Myocardial Infarction Market Forecast and Analysis
8.6. MYOCARDIAL ISCHEMIA
8.6.1. Overview
8.6.2. Myocardial Ischemia Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. CARDIOVASCULAR IMPLANTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Cardiovascular Implants Market Overview
9.1.2 North America Cardiovascular Implants Market Forecasts and Analysis
9.1.3 North America Cardiovascular Implants Market Forecasts and Analysis - By Product
9.1.4 North America Cardiovascular Implants Market Forecasts and Analysis - By Application
9.1.5 North America Cardiovascular Implants Market Forecasts and Analysis - By Countries
9.1.5.1 United States Cardiovascular Implants Market
9.1.5.1.1 United States Cardiovascular Implants Market by Product
9.1.5.1.2 United States Cardiovascular Implants Market by Application
9.1.5.2 Canada Cardiovascular Implants Market
9.1.5.2.1 Canada Cardiovascular Implants Market by Product
9.1.5.2.2 Canada Cardiovascular Implants Market by Application
9.1.5.3 Mexico Cardiovascular Implants Market
9.1.5.3.1 Mexico Cardiovascular Implants Market by Product
9.1.5.3.2 Mexico Cardiovascular Implants Market by Application
9.2. EUROPE
9.2.1 Europe Cardiovascular Implants Market Overview
9.2.2 Europe Cardiovascular Implants Market Forecasts and Analysis
9.2.3 Europe Cardiovascular Implants Market Forecasts and Analysis - By Product
9.2.4 Europe Cardiovascular Implants Market Forecasts and Analysis - By Application
9.2.5 Europe Cardiovascular Implants Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Cardiovascular Implants Market
9.2.5.1.1 Germany Cardiovascular Implants Market by Product
9.2.5.1.2 Germany Cardiovascular Implants Market by Application
9.2.5.2 France Cardiovascular Implants Market
9.2.5.2.1 France Cardiovascular Implants Market by Product
9.2.5.2.2 France Cardiovascular Implants Market by Application
9.2.5.3 Italy Cardiovascular Implants Market
9.2.5.3.1 Italy Cardiovascular Implants Market by Product
9.2.5.3.2 Italy Cardiovascular Implants Market by Application
9.2.5.4 Spain Cardiovascular Implants Market
9.2.5.4.1 Spain Cardiovascular Implants Market by Product
9.2.5.4.2 Spain Cardiovascular Implants Market by Application
9.2.5.5 United Kingdom Cardiovascular Implants Market
9.2.5.5.1 United Kingdom Cardiovascular Implants Market by Product
9.2.5.5.2 United Kingdom Cardiovascular Implants Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Cardiovascular Implants Market Overview
9.3.2 Asia-Pacific Cardiovascular Implants Market Forecasts and Analysis
9.3.3 Asia-Pacific Cardiovascular Implants Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Cardiovascular Implants Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Cardiovascular Implants Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Cardiovascular Implants Market
9.3.5.1.1 Australia Cardiovascular Implants Market by Product
9.3.5.1.2 Australia Cardiovascular Implants Market by Application
9.3.5.2 China Cardiovascular Implants Market
9.3.5.2.1 China Cardiovascular Implants Market by Product
9.3.5.2.2 China Cardiovascular Implants Market by Application
9.3.5.3 India Cardiovascular Implants Market
9.3.5.3.1 India Cardiovascular Implants Market by Product
9.3.5.3.2 India Cardiovascular Implants Market by Application
9.3.5.4 Japan Cardiovascular Implants Market
9.3.5.4.1 Japan Cardiovascular Implants Market by Product
9.3.5.4.2 Japan Cardiovascular Implants Market by Application
9.3.5.5 South Korea Cardiovascular Implants Market
9.3.5.5.1 South Korea Cardiovascular Implants Market by Product
9.3.5.5.2 South Korea Cardiovascular Implants Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Cardiovascular Implants Market Overview
9.4.2 Middle East and Africa Cardiovascular Implants Market Forecasts and Analysis
9.4.3 Middle East and Africa Cardiovascular Implants Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Cardiovascular Implants Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Cardiovascular Implants Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Cardiovascular Implants Market
9.4.5.1.1 South Africa Cardiovascular Implants Market by Product
9.4.5.1.2 South Africa Cardiovascular Implants Market by Application
9.4.5.2 Saudi Arabia Cardiovascular Implants Market
9.4.5.2.1 Saudi Arabia Cardiovascular Implants Market by Product
9.4.5.2.2 Saudi Arabia Cardiovascular Implants Market by Application
9.4.5.3 U.A.E Cardiovascular Implants Market
9.4.5.3.1 U.A.E Cardiovascular Implants Market by Product
9.4.5.3.2 U.A.E Cardiovascular Implants Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Cardiovascular Implants Market Overview
9.5.2 South and Central America Cardiovascular Implants Market Forecasts and Analysis
9.5.3 South and Central America Cardiovascular Implants Market Forecasts and Analysis - By Product
9.5.4 South and Central America Cardiovascular Implants Market Forecasts and Analysis - By Application
9.5.5 South and Central America Cardiovascular Implants Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Cardiovascular Implants Market
9.5.5.1.1 Brazil Cardiovascular Implants Market by Product
9.5.5.1.2 Brazil Cardiovascular Implants Market by Application
9.5.5.2 Argentina Cardiovascular Implants Market
9.5.5.2.1 Argentina Cardiovascular Implants Market by Product
9.5.5.2.2 Argentina Cardiovascular Implants 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. CARDIOVASCULAR IMPLANTS MARKET, KEY COMPANY PROFILES
11.1. VASCUTEK LTD (TERUMO CORPORATION)
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. EDWARDS LIFESCIENCES CORPORATION
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. COOK
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. MEDTRONIC
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. BOSTON SCIENTIFIC CORPORATION
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. ABBOTT
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. BIOTRONIK, INC.
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. SYNCARDIA SYSTEMS, LLC
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. LIVANOVA PLC
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. INTEGRA LIFESCIENCES
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
1. Vascutek Ltd (Terumo Corporation)
2. Edwards Lifesciences Corporation
3. Cook
4. Medtronic
5. Boston Scientific Corporation
6. Abbott
7. Biotronik, Inc.
8. Syncardia Systems, LLC
9. Livanova Plc
10. Integra Lifesciences
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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