Intragastric Balloon Market Analysis 2021-2031 | Trends
The Intragastric Balloon Market is expected to register a CAGR of 12.1% 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 (Single Gastric Balloon, Dual Gastric Balloon, Triple Gastric Balloon). The report further presents analysis based on Filling Material (Saline Filled, Gas Filled). Futher, it is segmented based on End User (Hospitals, Ambulatory Surgical Centers, Clinics). 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 Intragastric Balloon 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.
Intragastric Balloon Market Segmentation
Product- Single Gastric Balloon
- Dual Gastric Balloon
- Triple Gastric Balloon
- Saline Filled
- Gas Filled
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Intragastric Balloon Market Growth Drivers- Rising Obesity Rates: The balloon market can be regarded as a huge growth opportunity for the rapid increase in the global rate of obesity. Intragastric balloons are becoming a salable alternative to the so-called non-invasive approaches to weight loss as increasingly, people prefer non-surgical methods for losing weight. Demand will influence balloon use with an increase in awareness of health risks related to obesity.
- Rising Demand for Non-Surgical Measures: Increasing preference toward non-surgical weight loss programs is filling the demand for intragastric balloons. Patients are increasingly skeptical of any treatment that comes with risks to its involvement in the course of surgery. The least invasive nature of the balloon, coupled with an effective solution, is what most patients appreciate about it.
- Increased Awareness and Education: With the growing education among health professionals and patients on the options of weight management, the usage of intragastric balloons will expand. Right education about the advantages and efficiency of such treatment can make the patient ponder on it as a real alternative and enhance market growth within various sections of the population.
- Growing Popularity of Hybrid Approaches: Hybrid approaches that link intragastric balloons to other weight loss methods are on the rise in terms of popularity, thus reshaping market dynamics. For instance, lifestyle changes, pharmacotherapy, or other minimal intervention techniques may either be added together. Comprehensive strategies allow for stronger frameworks of weight management, particularly within the needs of the patients who demand more holistic and effective solutions.
- Expansion of Post-Procedure Support Programs: There is increasing development towards post-procedure support programs that have been integrated with comprehensive treatment support programs for intragastric balloon patients. These programs include counseling, nutritional guidelines, as well as fitness plans-all, all offering long-term success. Emphasis on holistic support ensures good experience and retention of patients; these are factors that lead toward better market acceptance and outcomes.
- Integrate Intragastric Balloon Treatments with Digital Health Technologies: There is a growing interest in the digital health technologies used for intragastric balloon procedures. Mobile apps and wearable devices are now frequently used for patient monitoring, counseling on diet, and keeping good communication between doctors, patients, and respective families. This trend enhances engagement and adherence in patients, therefore enhancing outcomes in weight loss as well as satisfaction with the procedure.
- Rising Drift Toward Minimally Invasive Procedure: The healthcare industry witnessed a strong shift toward minimally invasive procedures. Today, more and more patients want to have procedures associated with quicker recovery periods and fewer complications. Intragastric balloons perfectly fit into this rhythm of preference and provide good weight management without any requirement for invasive surgery, increasing the market potential.
- Balloon Technology Advancements: The new development in intragastric balloon technology, including more advanced materials and design features, is pacing the market. Improvement in durability, comfort, and ease of insertion of these devices makes intragastric balloons more effective and the new medical devices attractive. With advancing technology, increased overall success and patient satisfaction with intragastric balloons are envisioned.
- Focus on Holistic Solutions for Weight Management: With this rising interest in holistic weight management, opportunities may arise for intragastric balloons because lifestyle and behavioural modification programs can complement them. More complete solutions with support in diet, psychology, and physical activity can produce better patient outcomes and satisfaction, making intragastric balloons an even more attractive choice in the larger marketplace of weight loss.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Intragastric Balloon 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 Intragastric Balloon 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
The rising obesity rates and rising demand for non-surgical measures are the major factors boosting the intragastric balloon market growth.
The intragastric balloon market is expected to grow at a CAGR of 12.1%.
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023 - 2031).
North America region accounts for highest revenue share in intragastric balloon 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 (%).
Apollo Endosurgery Inc., Reshape Medical Inc, and Obalon Therapeutics are the major companies operating in the intragastric balloon market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Intragastric Balloon Market - By Product
1.3.2 Intragastric Balloon Market - By Filling Material
1.3.3 Intragastric Balloon Market - By End User
1.3.4 Intragastric Balloon Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INTRAGASTRIC BALLOON 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. INTRAGASTRIC BALLOON 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. INTRAGASTRIC BALLOON MARKET - GLOBAL MARKET ANALYSIS
6.1. INTRAGASTRIC BALLOON - GLOBAL MARKET OVERVIEW
6.2. INTRAGASTRIC BALLOON - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. INTRAGASTRIC BALLOON MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SINGLE GASTRIC BALLOON
7.3.1. Overview
7.3.2. Single Gastric Balloon Market Forecast and Analysis
7.3.3. Elipse Gastric Balloon Market
7.3.3.1. Overview
7.3.3.2. Elipse Gastric Balloon Market Forecast and Analysis
7.3.4. Orbera Gastric Balloon Market
7.3.4.1. Overview
7.3.4.2. Orbera Gastric Balloon Market Forecast and Analysis
7.3.5. Other Single Gastric Balloon Market
7.3.5.1. Overview
7.3.5.2. Other Single Gastric Balloon Market Forecast and Analysis
7.4. DUAL GASTRIC BALLOON
7.4.1. Overview
7.4.2. Dual Gastric Balloon Market Forecast and Analysis
7.5. TRIPLE GASTRIC BALLOON
7.5.1. Overview
7.5.2. Triple Gastric Balloon Market Forecast and Analysis
8. INTRAGASTRIC BALLOON MARKET - REVENUE AND FORECASTS TO 2028 - FILLING MATERIAL
8.1. OVERVIEW
8.2. FILLING MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. SALINE FILLED
8.3.1. Overview
8.3.2. Saline Filled Market Forecast and Analysis
8.4. GAS FILLED
8.4.1. Overview
8.4.2. Gas Filled Market Forecast and Analysis
9. INTRAGASTRIC BALLOON 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 CENTERS
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.5. CLINICS
9.5.1. Overview
9.5.2. Clinics Market Forecast and Analysis
10. INTRAGASTRIC BALLOON MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Intragastric Balloon Market Overview
10.1.2 North America Intragastric Balloon Market Forecasts and Analysis
10.1.3 North America Intragastric Balloon Market Forecasts and Analysis - By Product
10.1.4 North America Intragastric Balloon Market Forecasts and Analysis - By Filling Material
10.1.5 North America Intragastric Balloon Market Forecasts and Analysis - By End User
10.1.6 North America Intragastric Balloon Market Forecasts and Analysis - By Countries
10.1.6.1 United States Intragastric Balloon Market
10.1.6.1.1 United States Intragastric Balloon Market by Product
10.1.6.1.2 United States Intragastric Balloon Market by Filling Material
10.1.6.1.3 United States Intragastric Balloon Market by End User
10.1.6.2 Canada Intragastric Balloon Market
10.1.6.2.1 Canada Intragastric Balloon Market by Product
10.1.6.2.2 Canada Intragastric Balloon Market by Filling Material
10.1.6.2.3 Canada Intragastric Balloon Market by End User
10.1.6.3 Mexico Intragastric Balloon Market
10.1.6.3.1 Mexico Intragastric Balloon Market by Product
10.1.6.3.2 Mexico Intragastric Balloon Market by Filling Material
10.1.6.3.3 Mexico Intragastric Balloon Market by End User
10.2. EUROPE
10.2.1 Europe Intragastric Balloon Market Overview
10.2.2 Europe Intragastric Balloon Market Forecasts and Analysis
10.2.3 Europe Intragastric Balloon Market Forecasts and Analysis - By Product
10.2.4 Europe Intragastric Balloon Market Forecasts and Analysis - By Filling Material
10.2.5 Europe Intragastric Balloon Market Forecasts and Analysis - By End User
10.2.6 Europe Intragastric Balloon Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Intragastric Balloon Market
10.2.6.1.1 Germany Intragastric Balloon Market by Product
10.2.6.1.2 Germany Intragastric Balloon Market by Filling Material
10.2.6.1.3 Germany Intragastric Balloon Market by End User
10.2.6.2 France Intragastric Balloon Market
10.2.6.2.1 France Intragastric Balloon Market by Product
10.2.6.2.2 France Intragastric Balloon Market by Filling Material
10.2.6.2.3 France Intragastric Balloon Market by End User
10.2.6.3 Italy Intragastric Balloon Market
10.2.6.3.1 Italy Intragastric Balloon Market by Product
10.2.6.3.2 Italy Intragastric Balloon Market by Filling Material
10.2.6.3.3 Italy Intragastric Balloon Market by End User
10.2.6.4 Spain Intragastric Balloon Market
10.2.6.4.1 Spain Intragastric Balloon Market by Product
10.2.6.4.2 Spain Intragastric Balloon Market by Filling Material
10.2.6.4.3 Spain Intragastric Balloon Market by End User
10.2.6.5 United Kingdom Intragastric Balloon Market
10.2.6.5.1 United Kingdom Intragastric Balloon Market by Product
10.2.6.5.2 United Kingdom Intragastric Balloon Market by Filling Material
10.2.6.5.3 United Kingdom Intragastric Balloon Market by End User
10.2.6.6 Rest of Europe Intragastric Balloon Market
10.2.6.6.1 Rest of Europe Intragastric Balloon Market by Product
10.2.6.6.2 Rest of Europe Intragastric Balloon Market by Filling Material
10.2.6.6.3 Rest of Europe Intragastric Balloon Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Intragastric Balloon Market Overview
10.3.2 Asia-Pacific Intragastric Balloon Market Forecasts and Analysis
10.3.3 Asia-Pacific Intragastric Balloon Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Intragastric Balloon Market Forecasts and Analysis - By Filling Material
10.3.5 Asia-Pacific Intragastric Balloon Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Intragastric Balloon Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Intragastric Balloon Market
10.3.6.1.1 Australia Intragastric Balloon Market by Product
10.3.6.1.2 Australia Intragastric Balloon Market by Filling Material
10.3.6.1.3 Australia Intragastric Balloon Market by End User
10.3.6.2 China Intragastric Balloon Market
10.3.6.2.1 China Intragastric Balloon Market by Product
10.3.6.2.2 China Intragastric Balloon Market by Filling Material
10.3.6.2.3 China Intragastric Balloon Market by End User
10.3.6.3 India Intragastric Balloon Market
10.3.6.3.1 India Intragastric Balloon Market by Product
10.3.6.3.2 India Intragastric Balloon Market by Filling Material
10.3.6.3.3 India Intragastric Balloon Market by End User
10.3.6.4 Japan Intragastric Balloon Market
10.3.6.4.1 Japan Intragastric Balloon Market by Product
10.3.6.4.2 Japan Intragastric Balloon Market by Filling Material
10.3.6.4.3 Japan Intragastric Balloon Market by End User
10.3.6.5 South Korea Intragastric Balloon Market
10.3.6.5.1 South Korea Intragastric Balloon Market by Product
10.3.6.5.2 South Korea Intragastric Balloon Market by Filling Material
10.3.6.5.3 South Korea Intragastric Balloon Market by End User
10.3.6.6 Rest of Asia-Pacific Intragastric Balloon Market
10.3.6.6.1 Rest of Asia-Pacific Intragastric Balloon Market by Product
10.3.6.6.2 Rest of Asia-Pacific Intragastric Balloon Market by Filling Material
10.3.6.6.3 Rest of Asia-Pacific Intragastric Balloon Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Intragastric Balloon Market Overview
10.4.2 Middle East and Africa Intragastric Balloon Market Forecasts and Analysis
10.4.3 Middle East and Africa Intragastric Balloon Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Intragastric Balloon Market Forecasts and Analysis - By Filling Material
10.4.5 Middle East and Africa Intragastric Balloon Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Intragastric Balloon Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Intragastric Balloon Market
10.4.6.1.1 South Africa Intragastric Balloon Market by Product
10.4.6.1.2 South Africa Intragastric Balloon Market by Filling Material
10.4.6.1.3 South Africa Intragastric Balloon Market by End User
10.4.6.2 Saudi Arabia Intragastric Balloon Market
10.4.6.2.1 Saudi Arabia Intragastric Balloon Market by Product
10.4.6.2.2 Saudi Arabia Intragastric Balloon Market by Filling Material
10.4.6.2.3 Saudi Arabia Intragastric Balloon Market by End User
10.4.6.3 U.A.E Intragastric Balloon Market
10.4.6.3.1 U.A.E Intragastric Balloon Market by Product
10.4.6.3.2 U.A.E Intragastric Balloon Market by Filling Material
10.4.6.3.3 U.A.E Intragastric Balloon Market by End User
10.4.6.4 Rest of Middle East and Africa Intragastric Balloon Market
10.4.6.4.1 Rest of Middle East and Africa Intragastric Balloon Market by Product
10.4.6.4.2 Rest of Middle East and Africa Intragastric Balloon Market by Filling Material
10.4.6.4.3 Rest of Middle East and Africa Intragastric Balloon Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Intragastric Balloon Market Overview
10.5.2 South and Central America Intragastric Balloon Market Forecasts and Analysis
10.5.3 South and Central America Intragastric Balloon Market Forecasts and Analysis - By Product
10.5.4 South and Central America Intragastric Balloon Market Forecasts and Analysis - By Filling Material
10.5.5 South and Central America Intragastric Balloon Market Forecasts and Analysis - By End User
10.5.6 South and Central America Intragastric Balloon Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Intragastric Balloon Market
10.5.6.1.1 Brazil Intragastric Balloon Market by Product
10.5.6.1.2 Brazil Intragastric Balloon Market by Filling Material
10.5.6.1.3 Brazil Intragastric Balloon Market by End User
10.5.6.2 Argentina Intragastric Balloon Market
10.5.6.2.1 Argentina Intragastric Balloon Market by Product
10.5.6.2.2 Argentina Intragastric Balloon Market by Filling Material
10.5.6.2.3 Argentina Intragastric Balloon Market by End User
10.5.6.3 Rest of South and Central America Intragastric Balloon Market
10.5.6.3.1 Rest of South and Central America Intragastric Balloon Market by Product
10.5.6.3.2 Rest of South and Central America Intragastric Balloon Market by Filling Material
10.5.6.3.3 Rest of South and Central America Intragastric Balloon Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL INTRAGASTRIC BALLOON 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. INTRAGASTRIC BALLOON MARKET, KEY COMPANY PROFILES
13.1. ALLURION TECHNOLOGIES INC
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. HELIOSCOPIE MEDICAL IMPLANTS
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. BARONOVA, INC.
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. MEDSIL
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. SILIMED
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. SPATZ FGIA, INC.
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. APOLLO ENDOSURGERY, INC
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. OBALON THERAPEUTICS, INC.
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. RESHAPE LIFESCIENCES, 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. ENDALIS
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. Apollo Endosurgery, Inc.,
2. Reshape Medical Inc.,
3. Hélioscopie SA,
4. Allurion Technologies Inc.,
5. Spatz Fgia Inc.,
6. Silimed,
7. Obalon Therapeutics,
8. Medsil,
9. Baronova, Inc.
10. Endalis.
11. Lexel Medical
12. Districlass Medical
13. Tulip Medical.
14. Life Partners Europe
15. Medicone
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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