Health Sensors Market Research Report 2021-2031
The Health Sensors Market is expected to register a CAGR of 17.4% 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 [Hand-held Diagnostic Sensors (Chronic illness & at risk-monitoring, Patient admission triage, Logistical tracking, In hospital clinical monitoring, and Post-acute care monitoring), Wearable Sensors (Disposable wearable sensors, Non-disposable wearable sensors, and Implantable Sensors], Application (Wellness Monitoring, Chronic Illness and At Risk-Monitoring, Patient Admission Triage, Logistical Tracking, In hospital Clinical Monitoring, Sensor Therapeutics, and Post-Acute Care Monitoring), and End use (Hospitals & Clinics, Long-term care centers & Nursing homes, Home Care Settings, and Others)
Purpose of the ReportThe report Health Sensors 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.
Health Sensors Market Segmentation
Product [Hand-held Diagnostic Sensors- Chronic illness & at risk-monitoring
- Patient admission triage
- Logistical tracking
- In hospital clinical monitoring
- Post-acute care monitoring
- Wearable Sensors
- Wellness Monitoring
- Chronic Illness and At Risk-Monitoring
- Patient Admission Triage
- Logistical Tracking
- In hospital Clinical Monitoring
- Sensor Therapeutics
- Post-Acute Care Monitoring
- Hospitals & Clinics
- Long-term care centers & Nursing homes
- Home Care Settings
- Others
Strategic Insights
Health Sensors Market Growth Drivers- Rising Demand for Remote Patient Monitoring: The health sensors market is driven by the growth in demand for remote patient monitoring. Healthcare providers are looking for ways to monitor patients more efficiently outside of traditional clinical settings, considering growing trends for chronic diseases and an aging population. Continuous tracking of health metrics and vital signs through health sensors helps improve patient outcomes and reduce readmission to hospitals; therefore, the demand grows in such a market.
- Advancements in Sensor Technology: Advances in sensor technology also drive the health sensors market. Miniaturization, accuracy enhancement, and features of connectivity are shaping health sensors for greater efficiency and ease of use. Such technological developments allow for better mobile and wearable device interfaces, thereby increasing consumer uptake and the applications from fitness tracking to chronic disease management.
- Growing Emphasis on Preventive Healthcare: Increasing preventive healthcare measure forces the health sensors market. As patients and healthcare professionals begin to embrace proactive health management, there is an increase in demand for devices that enable early detection of problems related to health. The strategy with health sensors allows users to monitor key indicators of health and can, in turn, make good lifestyle choices. It supports a lifestyle of prevention and wellness.
- Integration of Artificial Intelligence: AI applications in health sensor technology is showing great potential in changing the face of the market. With the help of the AI algorithm, health sensors have more capabilities for real-time scrutiny and analysis of a patient’s health data. This enables early diagnosis of possible health-related conditions and monitors patients more efficiently, resulting in improved care of patients. As the developments in technology continue, the integration of AI into health sensors will be on the increase.
- Shift Towards Wearable Health Devices: One of the major health sensors market trends is the growing inclination towards health sensing systems that are smart and portable. Judging from the prevailing market, consumers seem to make the health and wellness a priority and hence wearable sensors which measure the heart rate, the level of physical activity and the sleeping cycles are in high demand. They allow users to get a complete picture of their health without interruptions, thus enabling them to manage their health more effectively. Such verticals are creating new product development challenges as well as intense rivalry among device manufacturers and health sensor investors in general.
- Focus on Data Security and Privacy: A new trend in the health sensors market is increased attention towards data security and privacy. Since health sensors collect sensitive personal health information, it is of greatest importance to protect this data. Manufacturers are implementing strong cybersecurity systems and adjusting their operations to adhere to norms such as GDPR and HIPAA. More importantly, this security of data is a very key aspect that shall help build confidence in the use of health sensors by the consumers and hence encourage the adoption of the technologies
- Expansion in Telehealth Services: Telehealth is the most prominent boom for the growth of the health sensors market. As telemedicine is fast becoming a commonplace practice in the healthcare industry, health sensors can be integrated to deliver better monitoring and diagnosis outcomes for patients. The real-time collection of health data by this interaction makes virtual care delivery more efficient. Organizations that are specifically designing sensors with only telehealth in mind can gain an opportunity to impact patient outcomes to expand their market growth.
- Growing Demand for Personalized Health Solutions: A good opportunity exists in the health sensors market in light of increased demand for health solutions specific to a particular individual's needs. Consumers need tailored health insights based on specific needs and conditions. This is by developing sophisticated sensors capable of giving such personalized feedback and recommendations to users, thus fostering better engagement and satisfaction from the product. This trend will spur innovation, hence producing customised health monitoring devices.
- Collaboration with Fitness and Wellness Brands: Perhaps the most important opportunity for health sensors is symbiosis with brands in the fitness and wellness space. The ability of health sensors to offer an integrated solution will appeal to more consumers concerned about their health, and wellness brand relationships can catalyze the formation of multifunctional health sensors. It will increase the visibility and legitimacy of related products among a wider audience, thereby aiding market expansion through the pre-existing base of brand loyalty for health sensor manufacturers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Health Sensors 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 Health Sensors 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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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
North America dominated the health sensors market in 2023
The market drivers include rising demand for remote patient monitoring and advancements in sensor technology are driving the health sensors market
Integration of artificial intelligence are likely to remain the key trend during the forecast period
The health sensors market majorly consists of the players such as Avago Technologies Ltd, Danaher Corporation, and Medtronic Plc among others.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The health sensors market is estimated to grow with a CAGR of 17.4% 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 Health Sensors Market - By Product
1.3.2 Health Sensors Market - By Application
1.3.3 Health Sensors Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HEALTH SENSORS 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. HEALTH SENSORS 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. HEALTH SENSORS MARKET - GLOBAL MARKET ANALYSIS
6.1. HEALTH SENSORS - GLOBAL MARKET OVERVIEW
6.2. HEALTH SENSORS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HEALTH SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. HAND-HELD DIAGNOSTIC SENSORS
7.3.1. Overview
7.3.2. Hand-held Diagnostic Sensors Market Forecast and Analysis
7.3.3. Wellness Monitoring Market
7.3.3.1. Overview
7.3.3.2. Wellness Monitoring Market Forecast and Analysis
7.3.4. Chronic Illness and At Risk-Monitoring Market
7.3.4.1. Overview
7.3.4.2. Chronic Illness and At Risk-Monitoring Market Forecast and Analysis
7.3.5. Patient Admission Triage Market
7.3.5.1. Overview
7.3.5.2. Patient Admission Triage Market Forecast and Analysis
7.3.6. Logistical Tracking Market
7.3.6.1. Overview
7.3.6.2. Logistical Tracking Market Forecast and Analysis
7.3.7. In hospital Clinical Monitoring Market
7.3.7.1. Overview
7.3.7.2. In hospital Clinical Monitoring Market Forecast and Analysis
7.3.8. Sensor Therapeutics Market
7.3.8.1. Overview
7.3.8.2. Sensor Therapeutics Market Forecast and Analysis
7.3.9. Post Acute Care Monitoring Market
7.3.9.1. Overview
7.3.9.2. Post Acute Care Monitoring Market Forecast and Analysis
7.4. WEARABLE SENSORS
7.4.1. Overview
7.4.2. Wearable Sensors Market Forecast and Analysis
7.4.3. Non-disposable Wearable Sensors Market
7.4.3.1. Overview
7.4.3.2. Non-disposable Wearable Sensors Market Forecast and Analysis
7.4.4. Disposable Wearable Sensors Market
7.4.4.1. Overview
7.4.4.2. Disposable Wearable Sensors Market Forecast and Analysis
7.5. IMPLANTABLE SENSORS
7.5.1. Overview
7.5.2. Implantable Sensors Market Forecast and Analysis
7.5.3. Wellness Monitoring Market
7.5.3.1. Overview
7.5.3.2. Wellness Monitoring Market Forecast and Analysis
7.5.4. Chronic Illness and At Risk-Monitoring Market
7.5.4.1. Overview
7.5.4.2. Chronic Illness and At Risk-Monitoring Market Forecast and Analysis
7.5.5. Patient Admission Triage Market
7.5.5.1. Overview
7.5.5.2. Patient Admission Triage Market Forecast and Analysis
7.5.6. Logistical Tracking Market
7.5.6.1. Overview
7.5.6.2. Logistical Tracking Market Forecast and Analysis
7.5.7. In hospital Clinical Monitoring Market
7.5.7.1. Overview
7.5.7.2. In hospital Clinical Monitoring Market Forecast and Analysis
7.5.8. Sensor Therapeutics Market
7.5.8.1. Overview
7.5.8.2. Sensor Therapeutics Market Forecast and Analysis
7.5.9. Post Acute Care Monitoring Market
7.5.9.1. Overview
7.5.9.2. Post Acute Care Monitoring Market Forecast and Analysis
8. HEALTH SENSORS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. WELLNESS MONITORING, CHRONIC ILLNESS AND AT RISK-MONITORING, PATIENT ADMISSION TRIAGE, LOGISTICAL TRACKING, IN HOSPITAL CLINICAL MONITORING, SENSOR THERAPEUTICS, POST ACUTE CARE MONITORING
8.3.1. Overview
8.3.2. Wellness Monitoring, Chronic Illness and At Risk-Monitoring, Patient Admission Triage, Logistical Tracking, In hospital Clinical Monitoring, Sensor Therapeutics, Post Acute Care Monitoring Market Forecast and Analysis
9. HEALTH SENSORS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Health Sensors Market Overview
9.1.2 North America Health Sensors Market Forecasts and Analysis
9.1.3 North America Health Sensors Market Forecasts and Analysis - By Product
9.1.4 North America Health Sensors Market Forecasts and Analysis - By Application
9.1.5 North America Health Sensors Market Forecasts and Analysis - By Countries
9.1.5.1 United States Health Sensors Market
9.1.5.1.1 United States Health Sensors Market by Product
9.1.5.1.2 United States Health Sensors Market by Application
9.1.5.2 Canada Health Sensors Market
9.1.5.2.1 Canada Health Sensors Market by Product
9.1.5.2.2 Canada Health Sensors Market by Application
9.1.5.3 Mexico Health Sensors Market
9.1.5.3.1 Mexico Health Sensors Market by Product
9.1.5.3.2 Mexico Health Sensors Market by Application
9.1.5.4 US Health Sensors Market
9.1.5.4.1 US Health Sensors Market by Product
9.1.5.4.2 US Health Sensors Market by Application
9.2. EUROPE
9.2.1 Europe Health Sensors Market Overview
9.2.2 Europe Health Sensors Market Forecasts and Analysis
9.2.3 Europe Health Sensors Market Forecasts and Analysis - By Product
9.2.4 Europe Health Sensors Market Forecasts and Analysis - By Application
9.2.5 Europe Health Sensors Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Health Sensors Market
9.2.5.1.1 Germany Health Sensors Market by Product
9.2.5.1.2 Germany Health Sensors Market by Application
9.2.5.2 France Health Sensors Market
9.2.5.2.1 France Health Sensors Market by Product
9.2.5.2.2 France Health Sensors Market by Application
9.2.5.3 Italy Health Sensors Market
9.2.5.3.1 Italy Health Sensors Market by Product
9.2.5.3.2 Italy Health Sensors Market by Application
9.2.5.4 Spain Health Sensors Market
9.2.5.4.1 Spain Health Sensors Market by Product
9.2.5.4.2 Spain Health Sensors Market by Application
9.2.5.5 United Kingdom Health Sensors Market
9.2.5.5.1 United Kingdom Health Sensors Market by Product
9.2.5.5.2 United Kingdom Health Sensors Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Health Sensors Market Overview
9.3.2 Asia-Pacific Health Sensors Market Forecasts and Analysis
9.3.3 Asia-Pacific Health Sensors Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Health Sensors Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Health Sensors Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Health Sensors Market
9.3.5.1.1 Australia Health Sensors Market by Product
9.3.5.1.2 Australia Health Sensors Market by Application
9.3.5.2 China Health Sensors Market
9.3.5.2.1 China Health Sensors Market by Product
9.3.5.2.2 China Health Sensors Market by Application
9.3.5.3 India Health Sensors Market
9.3.5.3.1 India Health Sensors Market by Product
9.3.5.3.2 India Health Sensors Market by Application
9.3.5.4 Japan Health Sensors Market
9.3.5.4.1 Japan Health Sensors Market by Product
9.3.5.4.2 Japan Health Sensors Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Health Sensors Market Overview
9.4.2 Middle East and Africa Health Sensors Market Forecasts and Analysis
9.4.3 Middle East and Africa Health Sensors Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Health Sensors Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Health Sensors Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Health Sensors Market
9.4.5.1.1 South Africa Health Sensors Market by Product
9.4.5.1.2 South Africa Health Sensors Market by Application
9.4.5.2 Saudi Arabia Health Sensors Market
9.4.5.2.1 Saudi Arabia Health Sensors Market by Product
9.4.5.2.2 Saudi Arabia Health Sensors Market by Application
9.4.5.3 U.A.E Health Sensors Market
9.4.5.3.1 U.A.E Health Sensors Market by Product
9.4.5.3.2 U.A.E Health Sensors Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Health Sensors Market Overview
9.5.2 South and Central America Health Sensors Market Forecasts and Analysis
9.5.3 South and Central America Health Sensors Market Forecasts and Analysis - By Product
9.5.4 South and Central America Health Sensors Market Forecasts and Analysis - By Application
9.5.5 South and Central America Health Sensors Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Health Sensors Market
9.5.5.1.1 Brazil Health Sensors Market by Product
9.5.5.1.2 Brazil Health Sensors Market by Application
9.5.5.2 Argentina Health Sensors Market
9.5.5.2.1 Argentina Health Sensors Market by Product
9.5.5.2.2 Argentina Health Sensors 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. HEALTH SENSORS MARKET, KEY COMPANY PROFILES
11.1. AVAGO TECHNOLOGIES LTD
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. DANAHER 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. MEDTRONIC PLC
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. GE HEALTHCARE
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. HONEYWELL INTERNATIONAL INC
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. SENSIRION AG
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. PROTEUS DIGITAL HEALTH
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. ABBOTT LABORATORIES
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. HOLOGIC, INC
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. STRYKER
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
- Avago Technologies Ltd
- Danaher Corporation
- Medtronic Plc
- GE Healthcare
- Honeywell International Inc
- Sensirion AG
- Proteus Digital Health
- Abbott Laboratories
- Hologic
- Stryker Corporation
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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