Insulin Pump Accessories Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Insulin pumps are beneficial to control insulin in diabetic patients at specific intervals. Insulin pumps are attached to the patient's body, and insulin is administered via a catheter placed under the skin. The pumps deliver a dose of insulin to control and sustain blood glucose levels. The patient can take an additional dose depending on the food intake to keep glucose level under control. These pumps are considered an effective alternative to injections due to their better blood glucose control and fewer shots than needles. Insulin pump accessories support the insulin pumps in administering insulin in the body to control diabetes. The insulin pump accessories include infusion sets, insulin reservoirs/cartridges, infusion set insertion devices, etc.
MARKET DYNAMICS
The insulin pump accessories market has shown a significant evolution over the forecast period. The growth of the infusion pump accessories market is majorly driven by the increase in chronic diseases such as diabetes and gastrointestinal disorders. According to WHO, in 2008, about 347 million people have beed suffering from diabetes. Moreover, in 2013, according to the International Diabetes Federation (IDF), about 384 million people had diabetes, and approximately 592 million people are expected to suffer from diabetes by 2035. Multiple other factors that boost the market growth include a rise in the geriatric population, a surge in demand for a portable insulin pump to minimize hospital expenditure, and increased awareness towards home healthcare. However, rigorous government regulations for the approval of devices and errors occurring while the use of infusion pump accessories has led to many product recalls, which restrict the insulin pump accessories market growth.
MARKET SCOPE
The "Insulin Pump Accessories Market Analysis to 2031" is a specialized and in-depth study of the medical device in the healthcare industry, with a specific focus on the global market trend analysis. This report provides an outline of the insulin pump accessories market with detailed market segmentation by product, application, and end-user. The insulin pump accessories market is estimated to witness high growth during the forecast period. It focuses on the vital statistics on the leading players' market status in the insulin pump accessories market and offers key opportunities and trends in the market.
MARKET SEGMENTATION
The market is categorized based on the product, application, and end user. Based on the product, the market is segmented as tubing, reservoir, infusion sets, and others. Based on the application, the segmentation of the market is into type-I diabetes and type-II diabetes. Based on end user, segmentation of the market is into hospitals and clinics, ambulatory surgical centers, home care settings and others.
REGIONAL FRAMEWORK
The report states a detailed outline of the industry, consisting of both qualitative and quantitative information. It gives a sketch and forecast of the insulin pump accessories market based on various segments.
The report also consists of market size and forecast estimates from the year 2021 to2031with respect to five primary regions, namely; North America, Asia-Pacific (APAC), Europe, Middle East, and Africa (MEA), and South & Central America (SCAM). The insulin pump accessories market by each region is then subdivided into respective countries and segments. It offers the analysis and forecast of 18 countries worldwide and the recent trend and opportunities prevailing in the region.
The report analyzes factors affecting the insulin pump accessories market from both the demand and supply sides. Furthermore, it assesses market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. It also comprises a precise PEST analysis for all five regions, namely; North America, APAC, Europe, MEA, and South & Central America, after evaluating political, social, economic, and technological factors affecting the insulin pump accessories market in these regions.
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The report states a detailed outline of the industry, consisting of both qualitative and quantitative information. It gives a sketch and forecast of the insulin pump accessories market based on various segments.
The report also consists of market size and forecast estimates from the year 2021 to2031with respect to five primary regions, namely; North America, Asia-Pacific (APAC), Europe, Middle East, and Africa (MEA), and South & Central America (SCAM). The insulin pump accessories market by each region is then subdivided into respective countries and segments. It offers the analysis and forecast of 18 countries worldwide and the recent trend and opportunities prevailing in the region.
The report analyzes factors affecting the insulin pump accessories market from both the demand and supply sides. Furthermore, it assesses market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. It also comprises a precise PEST analysis for all five regions, namely; North America, APAC, Europe, MEA, and South & Central America, after evaluating political, social, economic, and technological factors affecting the insulin pump accessories market in these regions.
MARKET PLAYERS
The report contains critical developments in the insulin pump accessories market as inorganic and organic growth strategies. Various companies are pivoting on organic growth strategies like product approvals, product launches, and others, such as events and patents. Inorganic growth strategies noticed in the market were acquisitions and collaborations &partnerships. Such activities have paved the path for the expansion of the business and customer base of market players. The market players from the insulin pump accessories market are anticipated to have profitable growth opportunities in the following years with the increasing demand for insulin pump accessories in the global market. Below mentioned is the list of a few companies engaged in the insulin pump accessories market.
The report also offers key players' profiles in the insulin pump accessories market, along with their SWOT analysis and market strategies. Also, the report focuses on leading market players with information on company profiles, financial information of the last three years, components, and services provided, critical development in the past five years.
- Medtronic
- BD
- Baxter
- ICU Medical, Inc.
- B. Braun Melsungen AG
- Fresenius SE & Co.
- Insulet Corporation.
- Terumo Corporation
- Johnson & Johnson Services, Inc.
- Tandem Diabetes Care, Inc
The Insight Partner's dedicated research and analysis team comprises of experienced professionals with advanced statistical expertise and offers various customization options in the current study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- 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
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Insulin Pump Accessories Market - By Product
1.3.2 Insulin Pump Accessories Market - By Application
1.3.3 Insulin Pump Accessories Market - By End User
1.3.4 Insulin Pump Accessories Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INSULIN PUMP ACCESSORIES 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. INSULIN PUMP ACCESSORIES 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. INSULIN PUMP ACCESSORIES MARKET - GLOBAL MARKET ANALYSIS
6.1. INSULIN PUMP ACCESSORIES - GLOBAL MARKET OVERVIEW
6.2. INSULIN PUMP ACCESSORIES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. INSULIN PUMP ACCESSORIES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. TUBING
7.3.1. Overview
7.3.2. Tubing Market Forecast and Analysis
7.4. RESERVOIR
7.4.1. Overview
7.4.2. Reservoir Market Forecast and Analysis
7.5. INFUSION SETS
7.5.1. Overview
7.5.2. Infusion Sets Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. INSULIN PUMP ACCESSORIES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. TYPE-I DIABETES
8.3.1. Overview
8.3.2. Type-I Diabetes Market Forecast and Analysis
8.4. TYPE-II DIABETES
8.4.1. Overview
8.4.2. Type-II Diabetes Market Forecast and Analysis
9. INSULIN PUMP ACCESSORIES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS & CLINICS
9.3.1. Overview
9.3.2. Hospitals & Clinics Market Forecast and Analysis
9.4. AMBULATORY SURGICAL CENTERS
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.5. HOME CARE SETTINGS
9.5.1. Overview
9.5.2. Home Care Settings Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. INSULIN PUMP ACCESSORIES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Insulin Pump Accessories Market Overview
10.1.2 North America Insulin Pump Accessories Market Forecasts and Analysis
10.1.3 North America Insulin Pump Accessories Market Forecasts and Analysis - By Product
10.1.4 North America Insulin Pump Accessories Market Forecasts and Analysis - By Application
10.1.5 North America Insulin Pump Accessories Market Forecasts and Analysis - By End User
10.1.6 North America Insulin Pump Accessories Market Forecasts and Analysis - By Countries
10.1.6.1 United States Insulin Pump Accessories Market
10.1.6.1.1 United States Insulin Pump Accessories Market by Product
10.1.6.1.2 United States Insulin Pump Accessories Market by Application
10.1.6.1.3 United States Insulin Pump Accessories Market by End User
10.1.6.2 Canada Insulin Pump Accessories Market
10.1.6.2.1 Canada Insulin Pump Accessories Market by Product
10.1.6.2.2 Canada Insulin Pump Accessories Market by Application
10.1.6.2.3 Canada Insulin Pump Accessories Market by End User
10.1.6.3 Mexico Insulin Pump Accessories Market
10.1.6.3.1 Mexico Insulin Pump Accessories Market by Product
10.1.6.3.2 Mexico Insulin Pump Accessories Market by Application
10.1.6.3.3 Mexico Insulin Pump Accessories Market by End User
10.2. EUROPE
10.2.1 Europe Insulin Pump Accessories Market Overview
10.2.2 Europe Insulin Pump Accessories Market Forecasts and Analysis
10.2.3 Europe Insulin Pump Accessories Market Forecasts and Analysis - By Product
10.2.4 Europe Insulin Pump Accessories Market Forecasts and Analysis - By Application
10.2.5 Europe Insulin Pump Accessories Market Forecasts and Analysis - By End User
10.2.6 Europe Insulin Pump Accessories Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Insulin Pump Accessories Market
10.2.6.1.1 Germany Insulin Pump Accessories Market by Product
10.2.6.1.2 Germany Insulin Pump Accessories Market by Application
10.2.6.1.3 Germany Insulin Pump Accessories Market by End User
10.2.6.2 France Insulin Pump Accessories Market
10.2.6.2.1 France Insulin Pump Accessories Market by Product
10.2.6.2.2 France Insulin Pump Accessories Market by Application
10.2.6.2.3 France Insulin Pump Accessories Market by End User
10.2.6.3 Italy Insulin Pump Accessories Market
10.2.6.3.1 Italy Insulin Pump Accessories Market by Product
10.2.6.3.2 Italy Insulin Pump Accessories Market by Application
10.2.6.3.3 Italy Insulin Pump Accessories Market by End User
10.2.6.4 Spain Insulin Pump Accessories Market
10.2.6.4.1 Spain Insulin Pump Accessories Market by Product
10.2.6.4.2 Spain Insulin Pump Accessories Market by Application
10.2.6.4.3 Spain Insulin Pump Accessories Market by End User
10.2.6.5 United Kingdom Insulin Pump Accessories Market
10.2.6.5.1 United Kingdom Insulin Pump Accessories Market by Product
10.2.6.5.2 United Kingdom Insulin Pump Accessories Market by Application
10.2.6.5.3 United Kingdom Insulin Pump Accessories Market by End User
10.2.6.6 Rest of Europe Insulin Pump Accessories Market
10.2.6.6.1 Rest of Europe Insulin Pump Accessories Market by Product
10.2.6.6.2 Rest of Europe Insulin Pump Accessories Market by Application
10.2.6.6.3 Rest of Europe Insulin Pump Accessories Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Insulin Pump Accessories Market Overview
10.3.2 Asia-Pacific Insulin Pump Accessories Market Forecasts and Analysis
10.3.3 Asia-Pacific Insulin Pump Accessories Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Insulin Pump Accessories Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Insulin Pump Accessories Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Insulin Pump Accessories Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Insulin Pump Accessories Market
10.3.6.1.1 Australia Insulin Pump Accessories Market by Product
10.3.6.1.2 Australia Insulin Pump Accessories Market by Application
10.3.6.1.3 Australia Insulin Pump Accessories Market by End User
10.3.6.2 China Insulin Pump Accessories Market
10.3.6.2.1 China Insulin Pump Accessories Market by Product
10.3.6.2.2 China Insulin Pump Accessories Market by Application
10.3.6.2.3 China Insulin Pump Accessories Market by End User
10.3.6.3 India Insulin Pump Accessories Market
10.3.6.3.1 India Insulin Pump Accessories Market by Product
10.3.6.3.2 India Insulin Pump Accessories Market by Application
10.3.6.3.3 India Insulin Pump Accessories Market by End User
10.3.6.4 Japan Insulin Pump Accessories Market
10.3.6.4.1 Japan Insulin Pump Accessories Market by Product
10.3.6.4.2 Japan Insulin Pump Accessories Market by Application
10.3.6.4.3 Japan Insulin Pump Accessories Market by End User
10.3.6.5 South Korea Insulin Pump Accessories Market
10.3.6.5.1 South Korea Insulin Pump Accessories Market by Product
10.3.6.5.2 South Korea Insulin Pump Accessories Market by Application
10.3.6.5.3 South Korea Insulin Pump Accessories Market by End User
10.3.6.6 Rest of Asia-Pacific Insulin Pump Accessories Market
10.3.6.6.1 Rest of Asia-Pacific Insulin Pump Accessories Market by Product
10.3.6.6.2 Rest of Asia-Pacific Insulin Pump Accessories Market by Application
10.3.6.6.3 Rest of Asia-Pacific Insulin Pump Accessories Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Insulin Pump Accessories Market Overview
10.4.2 Middle East and Africa Insulin Pump Accessories Market Forecasts and Analysis
10.4.3 Middle East and Africa Insulin Pump Accessories Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Insulin Pump Accessories Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Insulin Pump Accessories Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Insulin Pump Accessories Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Insulin Pump Accessories Market
10.4.6.1.1 South Africa Insulin Pump Accessories Market by Product
10.4.6.1.2 South Africa Insulin Pump Accessories Market by Application
10.4.6.1.3 South Africa Insulin Pump Accessories Market by End User
10.4.6.2 Saudi Arabia Insulin Pump Accessories Market
10.4.6.2.1 Saudi Arabia Insulin Pump Accessories Market by Product
10.4.6.2.2 Saudi Arabia Insulin Pump Accessories Market by Application
10.4.6.2.3 Saudi Arabia Insulin Pump Accessories Market by End User
10.4.6.3 U.A.E Insulin Pump Accessories Market
10.4.6.3.1 U.A.E Insulin Pump Accessories Market by Product
10.4.6.3.2 U.A.E Insulin Pump Accessories Market by Application
10.4.6.3.3 U.A.E Insulin Pump Accessories Market by End User
10.4.6.4 Rest of Middle East and Africa Insulin Pump Accessories Market
10.4.6.4.1 Rest of Middle East and Africa Insulin Pump Accessories Market by Product
10.4.6.4.2 Rest of Middle East and Africa Insulin Pump Accessories Market by Application
10.4.6.4.3 Rest of Middle East and Africa Insulin Pump Accessories Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Insulin Pump Accessories Market Overview
10.5.2 South and Central America Insulin Pump Accessories Market Forecasts and Analysis
10.5.3 South and Central America Insulin Pump Accessories Market Forecasts and Analysis - By Product
10.5.4 South and Central America Insulin Pump Accessories Market Forecasts and Analysis - By Application
10.5.5 South and Central America Insulin Pump Accessories Market Forecasts and Analysis - By End User
10.5.6 South and Central America Insulin Pump Accessories Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Insulin Pump Accessories Market
10.5.6.1.1 Brazil Insulin Pump Accessories Market by Product
10.5.6.1.2 Brazil Insulin Pump Accessories Market by Application
10.5.6.1.3 Brazil Insulin Pump Accessories Market by End User
10.5.6.2 Argentina Insulin Pump Accessories Market
10.5.6.2.1 Argentina Insulin Pump Accessories Market by Product
10.5.6.2.2 Argentina Insulin Pump Accessories Market by Application
10.5.6.2.3 Argentina Insulin Pump Accessories Market by End User
10.5.6.3 Rest of South and Central America Insulin Pump Accessories Market
10.5.6.3.1 Rest of South and Central America Insulin Pump Accessories Market by Product
10.5.6.3.2 Rest of South and Central America Insulin Pump Accessories Market by Application
10.5.6.3.3 Rest of South and Central America Insulin Pump Accessories Market by End User
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. INSULIN PUMP ACCESSORIES MARKET, KEY COMPANY PROFILES
12.1. MEDTRONIC
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. BD
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. BAXTER
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. ICU MEDICAL, INC.
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. B. BRAUN MELSUNGEN AG
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. FRESENIUS SE & CO.
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. INSULET CORPORATION.
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. TERUMO CORPORATION
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. JOHNSON & JOHNSON SERVICES, INC.
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. TANDEM DIABETES CARE, INC
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. Medtronic
2. BD
3. Baxter
4. ICU Medical, Inc.
5. B. Braun Melsungen AG
6. Fresenius SE & Co.
7. Insulet Corporation.
8. Terumo Corporation
9. Johnson & Johnson Services, Inc.
10. Tandem Diabetes Care, Inc
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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