Fluorescence Guided Surgery Systems Market Report 2021-2031
The Fluorescence Guided Surgery Systems Market is expected to register a CAGR of 15.9% 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 Fluorescence Guided Surgery Systems Market By Type (SPY System, PDE System, VS3 Iridium System, Others); Application (Head and Neck Cancer, Breast Cancer, Non-small-cell Lung Cancer, Colorectal Cancer, Bladder Cancer, Prostate Cancer, Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). 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 Fluorescence Guided Surgery Systems 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.
Fluorescence Guided Surgery Systems Market Segmentation
By Type- SPY System
- PDE System
- VS3 Iridium System
- Others
- Head and Neck Cancer
- Breast Cancer
- Non-small-cell Lung Cancer
- Colorectal Cancer
- Bladder Cancer
- Prostate Cancer
- Others
Strategic Insights
Fluorescence Guided Surgery Systems Market Growth Drivers- Increasing Demand For Surgical Procedures: More and more surgeons are looking for methods that improve accuracy and lower risks. Surgeons can more easily distinguish between healthy and malignant tissues because to FGS's real-time tumor imaging. This feature is especially helpful for complicated surgery like those for ovarian or brain malignancies.
- Rising Awareness: Fluorescence-guided procedures are becoming more and more popular as patients and healthcare professionals become more aware of their advantages. Successful case studies and educational programs are fueling this trend. The demand for these products is increased by these benefits, which also improve patient comfort and compliance.
- Advancements: The capabilities of FGS have been improved by recent FDA approvals of fluorescent compounds such pafolacianine, hexaminolevulinate, and 5-aminolevulinic acid (5-ALA). These substances enhance the visibility of tumors during surgery, enabling more thorough and accurate resections—a critical component of improved patient outcomes.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Technological Developments: Fluorescence imaging is now more efficient and user-friendly because to developments in imaging technology, such as specialized near-infrared (NIR) cameras and enhanced imaging algorithms. These developments improve intraoperative vision quality, which makes FGS a useful surgical oncology tool.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Expansion in Surgical Specialties: In addition to oncology, FGS is being used in neurosurgery, urology, and gynecology, among other surgical specialties. As more surgical teams realize the advantages of improved visualization during procedures, this expanding use raises the market potential.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Clinical Trial Research: Surgeons' and healthcare organizations' trust is increased by ongoing research and clinical trials showing the effectiveness of FGS procedures. Studies have shown that FGS can result in better surgical margins and lower recurrence rates, which will encourage its continued use. Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Regulatory Support: Healthcare providers are encouraged to invest in FGS systems by supportive regulatory frameworks and advantageous reimbursement schemes for fluorescence-guided operations. Hospitals are increasingly likely to use these cutting-edge devices when more insurance companies begin to cover them.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- 5-Aminolevulinic Acid (5-ALA): In the heme biosynthesis pathway, 5-ALA is a precursor that builds up in tumor cells and produces protoporphyrin IX, which fluoresces under certain light. 5-ALA, which is primarily used in neurosurgery to visualize malignant gliomas, has been demonstrated to enhance patient outcomes and the degree of tumor removal when compared to traditional methods.
- Indocyanine Green (ICG):Because it can visualize blood flow and tissue perfusion in real time, ICG, a near-infrared (NIR) fluorescent dye that binds to plasma proteins, is employed in a variety of imaging applications. frequently used in surgical oncology to map lymph nodes, visualize vascular structures, and measure perfusion while doing procedures. It has become more well-known because of its good safety record and ability to detect sentinel lymph nodes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Fluorescence Guided Surgery Systems 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 Fluorescence Guided Surgery Systems Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
China held the largest share in Asia Pacific region in 2023
In Europe, the UK held the second largest share in 2023.
North America held the largest share in 2023 and is expected to retain its dominance during the forecast period
Increasing Demand For Surgical Procedures
The Fluorescence Guided Surgery Systems Market is estimated to witness a CAGR of 15.9% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Fluorescence Guided Surgery Systems Market - By Type
1.3.2 Fluorescence Guided Surgery Systems Market - By Application
1.3.3 Fluorescence Guided Surgery Systems Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FLUORESCENCE GUIDED SURGERY SYSTEMS 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. FLUORESCENCE GUIDED SURGERY SYSTEMS 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. FLUORESCENCE GUIDED SURGERY SYSTEMS MARKET - GLOBAL MARKET ANALYSIS
6.1. FLUORESCENCE GUIDED SURGERY SYSTEMS - GLOBAL MARKET OVERVIEW
6.2. FLUORESCENCE GUIDED SURGERY SYSTEMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FLUORESCENCE GUIDED SURGERY SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SPY SYSTEM
7.3.1. Overview
7.3.2. SPY System Market Forecast and Analysis
7.4. PDE SYSTEM
7.4.1. Overview
7.4.2. PDE System Market Forecast and Analysis
7.5. VS3 IRIDIUM SYSTEM
7.5.1. Overview
7.5.2. VS3 Iridium System Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. FLUORESCENCE GUIDED SURGERY SYSTEMS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. HEAD AND NECK CANCER
8.3.1. Overview
8.3.2. Head and Neck Cancer Market Forecast and Analysis
8.4. BREAST CANCER
8.4.1. Overview
8.4.2. Breast Cancer Market Forecast and Analysis
8.5. NON-SMALL-CELL LUNG CANCER
8.5.1. Overview
8.5.2. Non-small-cell Lung Cancer Market Forecast and Analysis
8.6. COLORECTAL CANCER
8.6.1. Overview
8.6.2. Colorectal Cancer Market Forecast and Analysis
8.7. BLADDER CANCER
8.7.1. Overview
8.7.2. Bladder Cancer Market Forecast and Analysis
8.8. PROSTATE CANCER
8.8.1. Overview
8.8.2. Prostate Cancer Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. FLUORESCENCE GUIDED SURGERY SYSTEMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Fluorescence Guided Surgery Systems Market Overview
9.1.2 North America Fluorescence Guided Surgery Systems Market Forecasts and Analysis
9.1.3 North America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Type
9.1.4 North America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Application
9.1.5 North America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Countries
9.1.5.1 United States Fluorescence Guided Surgery Systems Market
9.1.5.1.1 United States Fluorescence Guided Surgery Systems Market by Type
9.1.5.1.2 United States Fluorescence Guided Surgery Systems Market by Application
9.1.5.2 Canada Fluorescence Guided Surgery Systems Market
9.1.5.2.1 Canada Fluorescence Guided Surgery Systems Market by Type
9.1.5.2.2 Canada Fluorescence Guided Surgery Systems Market by Application
9.1.5.3 Mexico Fluorescence Guided Surgery Systems Market
9.1.5.3.1 Mexico Fluorescence Guided Surgery Systems Market by Type
9.1.5.3.2 Mexico Fluorescence Guided Surgery Systems Market by Application
9.2. EUROPE
9.2.1 Europe Fluorescence Guided Surgery Systems Market Overview
9.2.2 Europe Fluorescence Guided Surgery Systems Market Forecasts and Analysis
9.2.3 Europe Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Type
9.2.4 Europe Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Application
9.2.5 Europe Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Fluorescence Guided Surgery Systems Market
9.2.5.1.1 Germany Fluorescence Guided Surgery Systems Market by Type
9.2.5.1.2 Germany Fluorescence Guided Surgery Systems Market by Application
9.2.5.2 France Fluorescence Guided Surgery Systems Market
9.2.5.2.1 France Fluorescence Guided Surgery Systems Market by Type
9.2.5.2.2 France Fluorescence Guided Surgery Systems Market by Application
9.2.5.3 Italy Fluorescence Guided Surgery Systems Market
9.2.5.3.1 Italy Fluorescence Guided Surgery Systems Market by Type
9.2.5.3.2 Italy Fluorescence Guided Surgery Systems Market by Application
9.2.5.4 Spain Fluorescence Guided Surgery Systems Market
9.2.5.4.1 Spain Fluorescence Guided Surgery Systems Market by Type
9.2.5.4.2 Spain Fluorescence Guided Surgery Systems Market by Application
9.2.5.5 United Kingdom Fluorescence Guided Surgery Systems Market
9.2.5.5.1 United Kingdom Fluorescence Guided Surgery Systems Market by Type
9.2.5.5.2 United Kingdom Fluorescence Guided Surgery Systems Market by Application
9.2.5.6 Rest of Europe Fluorescence Guided Surgery Systems Market
9.2.5.6.1 Rest of Europe Fluorescence Guided Surgery Systems Market by Type
9.2.5.6.2 Rest of Europe Fluorescence Guided Surgery Systems Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Fluorescence Guided Surgery Systems Market Overview
9.3.2 Asia-Pacific Fluorescence Guided Surgery Systems Market Forecasts and Analysis
9.3.3 Asia-Pacific Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Fluorescence Guided Surgery Systems Market
9.3.5.1.1 Australia Fluorescence Guided Surgery Systems Market by Type
9.3.5.1.2 Australia Fluorescence Guided Surgery Systems Market by Application
9.3.5.2 China Fluorescence Guided Surgery Systems Market
9.3.5.2.1 China Fluorescence Guided Surgery Systems Market by Type
9.3.5.2.2 China Fluorescence Guided Surgery Systems Market by Application
9.3.5.3 India Fluorescence Guided Surgery Systems Market
9.3.5.3.1 India Fluorescence Guided Surgery Systems Market by Type
9.3.5.3.2 India Fluorescence Guided Surgery Systems Market by Application
9.3.5.4 Japan Fluorescence Guided Surgery Systems Market
9.3.5.4.1 Japan Fluorescence Guided Surgery Systems Market by Type
9.3.5.4.2 Japan Fluorescence Guided Surgery Systems Market by Application
9.3.5.5 South Korea Fluorescence Guided Surgery Systems Market
9.3.5.5.1 South Korea Fluorescence Guided Surgery Systems Market by Type
9.3.5.5.2 South Korea Fluorescence Guided Surgery Systems Market by Application
9.3.5.6 Rest of Asia-Pacific Fluorescence Guided Surgery Systems Market
9.3.5.6.1 Rest of Asia-Pacific Fluorescence Guided Surgery Systems Market by Type
9.3.5.6.2 Rest of Asia-Pacific Fluorescence Guided Surgery Systems Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Fluorescence Guided Surgery Systems Market Overview
9.4.2 Middle East and Africa Fluorescence Guided Surgery Systems Market Forecasts and Analysis
9.4.3 Middle East and Africa Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Fluorescence Guided Surgery Systems Market
9.4.5.1.1 South Africa Fluorescence Guided Surgery Systems Market by Type
9.4.5.1.2 South Africa Fluorescence Guided Surgery Systems Market by Application
9.4.5.2 Saudi Arabia Fluorescence Guided Surgery Systems Market
9.4.5.2.1 Saudi Arabia Fluorescence Guided Surgery Systems Market by Type
9.4.5.2.2 Saudi Arabia Fluorescence Guided Surgery Systems Market by Application
9.4.5.3 U.A.E Fluorescence Guided Surgery Systems Market
9.4.5.3.1 U.A.E Fluorescence Guided Surgery Systems Market by Type
9.4.5.3.2 U.A.E Fluorescence Guided Surgery Systems Market by Application
9.4.5.4 Rest of Middle East and Africa Fluorescence Guided Surgery Systems Market
9.4.5.4.1 Rest of Middle East and Africa Fluorescence Guided Surgery Systems Market by Type
9.4.5.4.2 Rest of Middle East and Africa Fluorescence Guided Surgery Systems Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Fluorescence Guided Surgery Systems Market Overview
9.5.2 South and Central America Fluorescence Guided Surgery Systems Market Forecasts and Analysis
9.5.3 South and Central America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Type
9.5.4 South and Central America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Application
9.5.5 South and Central America Fluorescence Guided Surgery Systems Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Fluorescence Guided Surgery Systems Market
9.5.5.1.1 Brazil Fluorescence Guided Surgery Systems Market by Type
9.5.5.1.2 Brazil Fluorescence Guided Surgery Systems Market by Application
9.5.5.2 Argentina Fluorescence Guided Surgery Systems Market
9.5.5.2.1 Argentina Fluorescence Guided Surgery Systems Market by Type
9.5.5.2.2 Argentina Fluorescence Guided Surgery Systems Market by Application
9.5.5.3 Rest of South and Central America Fluorescence Guided Surgery Systems Market
9.5.5.3.1 Rest of South and Central America Fluorescence Guided Surgery Systems Market by Type
9.5.5.3.2 Rest of South and Central America Fluorescence Guided Surgery Systems Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL FLUORESCENCE GUIDED SURGERY SYSTEMS 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. FLUORESCENCE GUIDED SURGERY SYSTEMS MARKET, KEY COMPANY PROFILES
12.1. STRYKER
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. HAMAMATSU PHOTONICS K.K.
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. FLUOPTICS
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. QUEST MEDICAL IMAGING
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. MEDTRONIC
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. CURADEL, LLC
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. LI-COR BIOSCIENCES
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. PERKINELMER
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. SURGIMAB
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. ONLUME SURGICAL
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Stryker
2. Hamamatsu Photonics K.K.
3. Quest Medical Imaging
4. Medtronic
5. Curadel, LLC.
6. LI-COR Biosciences
7. PerkinElmer
8. SurgiMab
9. OnLume Surgical
10. Fluoptics
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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