EMG Equipment Market Size (2021-2031) and Growth
The EMG Equipment Market is expected to register a CAGR of 6.5% 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 (2 Channels, 4 Channels, 6 Channels, 8 Channels, Other). The report is further segmented based on Modality (Standalone EMG Device, Portable EMG Device). Futher, it is segmented based on End User (Hospitals, Ambulatory Surgical Centre, Research Institute, Diagnostic Centre, Homecare Centre). 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 EMG Equipment 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.
EMG Equipment Market Segmentation
Type- 2 Channels
- 4 Channels
- 6 Channels
- 8 Channels
- Other
- Standalone EMG Device
- Portable EMG Device
- Hospitals
- Ambulatory Surgical Centre
- Research Institute
- Diagnostic Centre
- Homecare Centre
Strategic Insights
EMG Equipment Market Growth Drivers- Emerging Awareness and Studies: As the awareness towards neuromuscular diseases and the urgency of early detection increase, funding is increased towards research and clinical studies. More research fosters the demand for EMG equipment because both research and patient care in hospitals become essential with greater facilitative tools.
- Technological Advancements: EMG Technology Portables and wireless connectivity combined with analytics capabilities make advanced software more comprehensive in detail for diagnosis and easier to use. Such technologies attract healthcare providers looking for efficient, easy-to-use solutions that advance the sector further or drive the market for EMG equipment.
- Rising Neuromuscular Diseases: The expanding incidence of neuromuscular diseases, such as ALS and myopathies, is particularly propelling the demand for electromyography equipment. Thorough diagnostics lead to appropriate management of patients. Market growth within healthcare facilities is thus facilitated by the same factor.
- Integration with Wearable Technology: The trend in the inclusion of EMG sensors in wearable devices has made it possible to have continuous monitoring of muscle activity. Through this advance, there will be live feedback received during rehabilitation and training sessions from patients, which increases their involvement and provides valuable data for their providers.
- Telemedicine Usage: Increasing demand for telemedicine is supporting the innovation of distributed EMG testing solutions. This development enables patients to be consulted and monitored through home assessment that enhances the access to neuromuscular testing and augment the market scope of EMG devices.
- Applications in Artificial Intelligence: With the integration of artificial intelligence in the analysis of EMG, diagnostic accuracy is being revolutionized. Algorithms by AI enhance the analysis of data as well as predictive analytics where health care professionals make informed decisions based on judgments. This is the reason behind advanced EMG technology.
- Collaboration with the Rehabilitiation Centers: Partnerships with rehabilitation centers have opened up the possibilities for offering the benefits of EMG technology to manufacturers. Collaboration in terms of product training and implementation ensures proper solutions for rehabilitation with healthy relations and deep penetration in the market.
- Customization for Specialised Applications: Another way is customisable EMG devices, which are specifically developed for certain purposes, for example pediatric care or sports medicine. One could target diverse customer groups for the purpose of selling a diversified product. A product stands out in the market because of designed solutions tailored to the requirements of different patients, making the business even more competitive.
- Growing Acceptance in Sports Medicine: Integration of EMG technology is on the rise in the field of sports medicine, which contributes to its application in performance analysis and injury prevention. The use of EMG technology is considered by athletic trainers as well as sports physicians with regard to the apparatus to assess muscle function, which further improves the performance as well as speeds up recovery of athletes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the EMG Equipment 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 EMG Equipment 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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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 major factors driving the EMG equipment market are:
1. Emerging Awareness and Studies.
2. Rising Neuromuscular Diseases.
The EMG equipment market is expected to grow at a CAGR of 6.5%.
North America region accounts for highest revenue share in EMG equipment 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 (%).
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023 - 2031).
GE Healthcare, Masimo Corporation, and Medtronic Plc are the major companies operating in the EMG equipment market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 EMG Equipment Market - By Type
1.3.2 EMG Equipment Market - By Modality
1.3.3 EMG Equipment Market - By End User
1.3.4 EMG Equipment Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. EMG EQUIPMENT 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. EMG EQUIPMENT 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. EMG EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. EMG EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. EMG EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. EMG EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. 2 CHANNELS
7.3.1. Overview
7.3.2. 2 Channels Market Forecast and Analysis
7.4. 4 CHANNELS
7.4.1. Overview
7.4.2. 4 Channels Market Forecast and Analysis
7.5. 6 CHANNELS
7.5.1. Overview
7.5.2. 6 Channels Market Forecast and Analysis
7.6. 8 CHANNELS
7.6.1. Overview
7.6.2. 8 Channels Market Forecast and Analysis
7.7. OTHER
7.7.1. Overview
7.7.2. Other Market Forecast and Analysis
8. EMG EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - MODALITY
8.1. OVERVIEW
8.2. MODALITY MARKET FORECASTS AND ANALYSIS
8.3. STANDALONE EMG DEVICE
8.3.1. Overview
8.3.2. Standalone EMG Device Market Forecast and Analysis
8.4. PORTABLE EMG DEVICE
8.4.1. Overview
8.4.2. Portable EMG Device Market Forecast and Analysis
9. EMG EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. AMBULATORY SURGICAL CENTER
9.4.1. Overview
9.4.2. Ambulatory Surgical Center Market Forecast and Analysis
9.5. RESEARCH INSTITUTE
9.5.1. Overview
9.5.2. Research Institute Market Forecast and Analysis
9.6. DIAGNOSTIC CENTER
9.6.1. Overview
9.6.2. Diagnostic Center Market Forecast and Analysis
9.7. HOMECARE CENTER
9.7.1. Overview
9.7.2. Homecare Center Market Forecast and Analysis
10. EMG EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America EMG Equipment Market Overview
10.1.2 North America EMG Equipment Market Forecasts and Analysis
10.1.3 North America EMG Equipment Market Forecasts and Analysis - By Type
10.1.4 North America EMG Equipment Market Forecasts and Analysis - By Modality
10.1.5 North America EMG Equipment Market Forecasts and Analysis - By End User
10.1.6 North America EMG Equipment Market Forecasts and Analysis - By Countries
10.1.6.1 United States EMG Equipment Market
10.1.6.1.1 United States EMG Equipment Market by Type
10.1.6.1.2 United States EMG Equipment Market by Modality
10.1.6.1.3 United States EMG Equipment Market by End User
10.1.6.2 Canada EMG Equipment Market
10.1.6.2.1 Canada EMG Equipment Market by Type
10.1.6.2.2 Canada EMG Equipment Market by Modality
10.1.6.2.3 Canada EMG Equipment Market by End User
10.1.6.3 Mexico EMG Equipment Market
10.1.6.3.1 Mexico EMG Equipment Market by Type
10.1.6.3.2 Mexico EMG Equipment Market by Modality
10.1.6.3.3 Mexico EMG Equipment Market by End User
10.2. EUROPE
10.2.1 Europe EMG Equipment Market Overview
10.2.2 Europe EMG Equipment Market Forecasts and Analysis
10.2.3 Europe EMG Equipment Market Forecasts and Analysis - By Type
10.2.4 Europe EMG Equipment Market Forecasts and Analysis - By Modality
10.2.5 Europe EMG Equipment Market Forecasts and Analysis - By End User
10.2.6 Europe EMG Equipment Market Forecasts and Analysis - By Countries
10.2.6.1 Germany EMG Equipment Market
10.2.6.1.1 Germany EMG Equipment Market by Type
10.2.6.1.2 Germany EMG Equipment Market by Modality
10.2.6.1.3 Germany EMG Equipment Market by End User
10.2.6.2 France EMG Equipment Market
10.2.6.2.1 France EMG Equipment Market by Type
10.2.6.2.2 France EMG Equipment Market by Modality
10.2.6.2.3 France EMG Equipment Market by End User
10.2.6.3 Italy EMG Equipment Market
10.2.6.3.1 Italy EMG Equipment Market by Type
10.2.6.3.2 Italy EMG Equipment Market by Modality
10.2.6.3.3 Italy EMG Equipment Market by End User
10.2.6.4 Spain EMG Equipment Market
10.2.6.4.1 Spain EMG Equipment Market by Type
10.2.6.4.2 Spain EMG Equipment Market by Modality
10.2.6.4.3 Spain EMG Equipment Market by End User
10.2.6.5 United Kingdom EMG Equipment Market
10.2.6.5.1 United Kingdom EMG Equipment Market by Type
10.2.6.5.2 United Kingdom EMG Equipment Market by Modality
10.2.6.5.3 United Kingdom EMG Equipment Market by End User
10.2.6.6 Rest of Europe EMG Equipment Market
10.2.6.6.1 Rest of Europe EMG Equipment Market by Type
10.2.6.6.2 Rest of Europe EMG Equipment Market by Modality
10.2.6.6.3 Rest of Europe EMG Equipment Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific EMG Equipment Market Overview
10.3.2 Asia-Pacific EMG Equipment Market Forecasts and Analysis
10.3.3 Asia-Pacific EMG Equipment Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific EMG Equipment Market Forecasts and Analysis - By Modality
10.3.5 Asia-Pacific EMG Equipment Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific EMG Equipment Market Forecasts and Analysis - By Countries
10.3.6.1 Australia EMG Equipment Market
10.3.6.1.1 Australia EMG Equipment Market by Type
10.3.6.1.2 Australia EMG Equipment Market by Modality
10.3.6.1.3 Australia EMG Equipment Market by End User
10.3.6.2 China EMG Equipment Market
10.3.6.2.1 China EMG Equipment Market by Type
10.3.6.2.2 China EMG Equipment Market by Modality
10.3.6.2.3 China EMG Equipment Market by End User
10.3.6.3 India EMG Equipment Market
10.3.6.3.1 India EMG Equipment Market by Type
10.3.6.3.2 India EMG Equipment Market by Modality
10.3.6.3.3 India EMG Equipment Market by End User
10.3.6.4 Japan EMG Equipment Market
10.3.6.4.1 Japan EMG Equipment Market by Type
10.3.6.4.2 Japan EMG Equipment Market by Modality
10.3.6.4.3 Japan EMG Equipment Market by End User
10.3.6.5 South Korea EMG Equipment Market
10.3.6.5.1 South Korea EMG Equipment Market by Type
10.3.6.5.2 South Korea EMG Equipment Market by Modality
10.3.6.5.3 South Korea EMG Equipment Market by End User
10.3.6.6 Rest of Asia-Pacific EMG Equipment Market
10.3.6.6.1 Rest of Asia-Pacific EMG Equipment Market by Type
10.3.6.6.2 Rest of Asia-Pacific EMG Equipment Market by Modality
10.3.6.6.3 Rest of Asia-Pacific EMG Equipment Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa EMG Equipment Market Overview
10.4.2 Middle East and Africa EMG Equipment Market Forecasts and Analysis
10.4.3 Middle East and Africa EMG Equipment Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa EMG Equipment Market Forecasts and Analysis - By Modality
10.4.5 Middle East and Africa EMG Equipment Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa EMG Equipment Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa EMG Equipment Market
10.4.6.1.1 South Africa EMG Equipment Market by Type
10.4.6.1.2 South Africa EMG Equipment Market by Modality
10.4.6.1.3 South Africa EMG Equipment Market by End User
10.4.6.2 Saudi Arabia EMG Equipment Market
10.4.6.2.1 Saudi Arabia EMG Equipment Market by Type
10.4.6.2.2 Saudi Arabia EMG Equipment Market by Modality
10.4.6.2.3 Saudi Arabia EMG Equipment Market by End User
10.4.6.3 U.A.E EMG Equipment Market
10.4.6.3.1 U.A.E EMG Equipment Market by Type
10.4.6.3.2 U.A.E EMG Equipment Market by Modality
10.4.6.3.3 U.A.E EMG Equipment Market by End User
10.4.6.4 Rest of Middle East and Africa EMG Equipment Market
10.4.6.4.1 Rest of Middle East and Africa EMG Equipment Market by Type
10.4.6.4.2 Rest of Middle East and Africa EMG Equipment Market by Modality
10.4.6.4.3 Rest of Middle East and Africa EMG Equipment Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America EMG Equipment Market Overview
10.5.2 South and Central America EMG Equipment Market Forecasts and Analysis
10.5.3 South and Central America EMG Equipment Market Forecasts and Analysis - By Type
10.5.4 South and Central America EMG Equipment Market Forecasts and Analysis - By Modality
10.5.5 South and Central America EMG Equipment Market Forecasts and Analysis - By End User
10.5.6 South and Central America EMG Equipment Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil EMG Equipment Market
10.5.6.1.1 Brazil EMG Equipment Market by Type
10.5.6.1.2 Brazil EMG Equipment Market by Modality
10.5.6.1.3 Brazil EMG Equipment Market by End User
10.5.6.2 Argentina EMG Equipment Market
10.5.6.2.1 Argentina EMG Equipment Market by Type
10.5.6.2.2 Argentina EMG Equipment Market by Modality
10.5.6.2.3 Argentina EMG Equipment Market by End User
10.5.6.3 Rest of South and Central America EMG Equipment Market
10.5.6.3.1 Rest of South and Central America EMG Equipment Market by Type
10.5.6.3.2 Rest of South and Central America EMG Equipment Market by Modality
10.5.6.3.3 Rest of South and Central America EMG Equipment Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL EMG EQUIPMENT MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. EMG EQUIPMENT MARKET, KEY COMPANY PROFILES
13.1. ALLENGERS MEDICAL SYSTEMS LIMITED
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. CADWELL INDUSTRIES INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. COMPUMEDICS LIMITED
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. ELECTRICAL GEODESICS INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. GENERAL ELECTRIC COMPANY
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MASIMO CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MEDTRONIC PLC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. NATUS MEDICAL INCORPORATED
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. ZYNEX INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. NIHON KOHDEN CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Allengers Medical Systems Limited
2. Cadwell Industries, Inc.
3. Compumedics Limited (D & DJ Burton Holdings Pty Ltd.)
4. Electrical Geodesics, Inc. (MagstimEGI)
5. General Electric Company
6. Masimo Corporation
7. Medtronic Plc
8. Natus Medical Incorporated
9. Nihon Kohden Corporation
10. Zynex
11. Haishen
12. Noraxon
13. EB NEURO
14. NCC
15. NR Sign
16. EGI
17. Medcom
18. NeuroSky
19. CONTEC
20. SYMTOP
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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