Intravascular Catheters Market Size and Share: 2031 Key Findings
The Intravascular Catheters Market is expected to register a CAGR of 9.1% 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 (Short PIVC and Integrated/Closed PIVC), Application (Oncology, Gastroenterology, Infectious Diseases, Renal Diseases, and Others), End User (Hospitals, Clinics, Ambulatory Surgical Centres, and Others). 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 Intravascular Catheters 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.
Intravascular Catheters Market Segmentation
Product- Short PIVC and Integrated/Closed PIVC
- Oncology
- Gastroenterology
- Infectious Diseases
- Renal Diseases
- Others
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Others
Strategic Insights
Intravascular Catheters Market Growth Drivers- Growing Incidence of Chronic Diseases: The surging prevelance of chronic diseases, including cancer, diabetes, and cardiovascular diseases, promotes long-term vascular access. Thus, the use of intravascular catheters increases in those cases. At the same time, awareness of associated infection risks boosts demand for effective solutions in infection prevention.
- Increased Surgical Volume: An increased surgical volume leads to a need for a range of intravascular catheters. The second force that is propelling the growth of intravascular catheters is outpatient surgeries, in addition to the increasing demand for short recovery times. As surgical technologies advance and as both elective as well as urgent procedures go up in number, hospitals conduct more operations per annum that indirectly contribute towards an increase in the usage of intravascular catheters.
- Rising Awareness of Catheter-Related Infections: Increasing awareness of catheter-related infections raises the demand for sophisticated catheters as they will minimize risks of infection. The hospitals also know that catheter-related infections may lead to longer hospital stays and increased medical costs. Thus, there is a tendency to adopt products that minimize infection risks, which in turn leads to increased demand for advanced intravascular catheters.
- Technological Advancements: The increasing demand for more sophisticated catheters that can incorporate advanced materials. Such materials have good biocompatibility, offering resistance to infections, and exceptionally improve comfort for the patients. In fact, other technologies include antimicrobial coatings, smart catheters together with their built-in sensors, and ultrasound-assisted devices.
- Rising Demand for Minimally Invasive Procedures: The demand for procedures carried out using less invasive surgical methods is increasing. This in turn fuels the growth of catheters that enable and support such minimal procedures. Patients demand minimal invasive procedures due to considerable benefits from these procedures, especially with reduced pain, shorter recovery periods, and minimum scarring. These trends are nudging the healthcare providers toward implementing such technologies at a broader level.
- Sustainability initiatives: Sustainability is becoming the priority for the healthcare industries since biodegradable or recyclable products like catheters will be in demand. As the environmental issues are increasing, companies would be eager to initiate green alternatives of the conventional medical products.
- Regulatory Support for New Product Approvals: Governments and bodies that regulate such technologies are supporting the use of innovative medical devices. The regulatory agencies have their own acceptance processes that enable quick entry into the market with newer catheter technologies. For instance, the regulations that apply to intravascular catheters would include central venous catheters, PICCs, and many more.
- Growing Investment in Healthcare Infrastructure: Health infrastructure is considerably expansive in developing regions and hence there arises a higher chance for adopting advanced medical devices, such as catheters. Quite many nations are also investing in health infrastructure to enhance their medical systems, including the purchase of advanced medical devices like intravascular catheters.
- Market Consolidation and Strategic Partnerships: Apart from mergers and acquisitions, joint ventures and collaborative initiatives, market consolidation and strategic partnerships improve the company's competitive position, drive innovation, and ultimately the care received by patients. The strategies firms will adopt within this market are going to continue to be influenced by ongoing shifts in healthcare demand, technology, and regulatory environment.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Intravascular Catheters 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 Intravascular Catheters 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 market is expected to grow at a CAGR of 9.1%
increasing prevelance of chronic disorders and increase in surgical procedures are the major factors boosting the intravascular catheter market growth
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
The North America region accounts for highest revenue share intravascular catheter market
BD, Boston Scientific Corporation, Smiths Medical, Edwards Life Sciences Corporation, Coloplast, MAQUET Holding B V Co KG, Johnson Johnson Services Inc, Medtronic, Cook are the some of the key market players operating in the intravascular catheter market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1. Intravascular Catheters Market- By Product
1.3.2. Intravascular Catheters Market- By Application
1.3.3. Intravascular Catheters Market- By End User
1.3.4. Intravascular Catheters Market- By Region
1.3.4.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. INTRAVASCULAR CATHETERS MARKET LANDSCAPE
4.1. MARKET 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 & Africa - PEST Analysis
4.2.5. South and Central America - PEST Analysis
5. INTRAVASCULAR CATHETERS MARKET- KEY INDUSTRY 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. INTRAVASCULAR CATHETERS MARKET- GLOBAL ANALYSIS
6.1. INTRAVASCULAR CATHETERS MARKET - GLOBAL MARKET OVERVIEW
6.2. INTRAVASCULAR CATHETERS MARKET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE OF KEY PLAYERS
7. INTRAVASCULAR CATHETERS MARKET REVENUE AND FORECASTS TO 2028- PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SHORT PIVC MARKET
7.3.1. Overview
7.3.2. Short PIVC Market Forecast and Analysis (US$ Mn)
7.4. INTEGRATED/CLOSED PIVC MARKET
7.4.1. Overview
7.4.2. Integrated/Closed PIVC Market Forecast and Analysis (US$ Mn)
8. INTRAVASCULAR CATHETERS MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ONCOLOGY MARKET
8.3.1. Overview
8.3.2. Oncology Market Forecast and Analysis (US$ Mn)
8.4. GASTROENTEROLOGY MARKET
8.4.1. Overview
8.4.2. Gastroenterology Market Forecast and Analysis (US$ Mn)
8.5. INFECTIOUS DISEASES MARKET
8.5.1. Overview
8.5.2. Infectious Diseases Market Forecast and Analysis (US$ Mn)
8.6. RENAL DISEASES MARKET
8.6.1. Overview
8.6.2. Renal Diseases Market Forecast and Analysis (US$ Mn)
8.7. OTHERS MARKET
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis (US$ Mn)
9. INTRAVASCULAR CATHETERS MARKET REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS MARKET
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis (US$ Mn)
9.4. CLINICS MARKET
9.4.1. Overview
9.4.2. Clinics Market Forecast and Analysis (US$ Mn)
9.5. AMBULATORY SURGICAL CENTRES MARKET
9.5.1. Overview
9.5.2. Ambulatory Surgical Centers Market Forecast and Analysis (US$ Mn)
9.6. OTHERS MARKET
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis (US$ Mn)
10. INTRAVASCULAR CATHETERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA INTRAVASCULAR CATHETERS MARKET
10.1.1. North America Intravascular Catheters Market Forecasts and Analysis (US$ Mn)
10.1.2. North America Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.1.3. North America Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.1.4. North America Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.1.5. North America Intravascular Catheters Market Forecasts and Analysis - By Country
10.1.6. US Market Overview
10.1.6.1. US Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.1.6.2. US Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.1.6.3. US Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.1.7. Canada Market Overview
10.1.7.1. Canada Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.1.7.2. Canada Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.1.7.3. Canada Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.1.8. Mexico Market Overview
10.1.8.1. Mexico Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.1.8.2. Mexico Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.1.8.3. Mexico Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.2. EUROPE INTRAVASCULAR CATHETERS MARKET
10.2.1. Europe Intravascular Catheters Market Forecasts and Analysis (US$ Mn)
10.2.2. Europe Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.2.3. Europe Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.2.4. Europe Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.2.5. Europe Intravascular Catheters Market Forecasts and Analysis - By Country
10.2.6. UK Market Overview
10.2.6.1. UK Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.2.6.2. UK Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.2.6.3. UK Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.2.7. Germany Market Overview
10.2.7.1. Germany Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.2.7.2. Germany Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.2.7.3. Germany Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.2.8. France Market Overview
10.2.8.1. France Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.2.8.2. France Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.2.8.3. France Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.3. ASIA PACIFIC INTRAVASCULAR CATHETERS MARKET
10.3.1. Asia Pacific Intravascular Catheters Market Forecasts and Analysis (US$ Mn)
10.3.2. Asia Pacific Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.3.3. Asia Pacific Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.3.4. Asia Pacific Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.3.5. Asia Pacific Intravascular Catheters Market Forecasts and Analysis - By Country
10.3.6. China Market Overview
10.3.6.1. China Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.3.6.2. China Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.3.6.3. China Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.3.7. Japan Market Overview
10.3.7.1. Japan Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.3.7.2. Japan Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.3.7.3. Japan Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.3.8. India Market Overview
10.3.8.1. India Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.3.8.2. India Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.3.8.3. India Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.4. MIDDLE EAST AND AFRICA (MEA) INTRAVASCULAR CATHETERS MARKET
10.4.1. Middle East and Africa (MEA) Intravascular Catheters Market Forecasts and Analysis (US$ Mn)
10.4.2. Middle East and Africa Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.4.3. Middle East and Africa (MEA) Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.4.4. Middle East and Africa (MEA) Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.4.5. Middle East and Africa (MEA) Intravascular Catheters Market Forecasts and Analysis - By Country
10.4.6. UAE Market Overview
10.4.6.1. UAE Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.4.6.2. UAE Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.4.6.3. UAE Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.4.7. Saudi Arabia Market Overview
10.4.7.1. Saudi Arabia Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.4.7.2. Saudi Arabia Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.4.7.3. Saudi Arabia Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.4.8. South Africa Market Overview
10.4.8.1. South Africa Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.4.8.2. South Africa Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.4.8.3. South Africa Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.5. SOUTH AND CENTRAL AMERICA INTRAVASCULAR CATHETERS MARKET
10.5.1. South and Central America Intravascular Catheters Market Forecasts and Analysis (US$ Mn)
10.5.2. South and Central America Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.5.3. South and Central America Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.5.4. South and Central America Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
10.5.5. South and Central America Intravascular Catheters Market Forecasts and Analysis - By Country
10.5.6. Brazil Market Overview
10.5.6.1. Brazil Intravascular Catheters Market Forecasts and Analysis - By Product (US$ Mn)
10.5.6.2. Brazil Intravascular Catheters Market Forecasts and Analysis - By Application (US$ Mn)
10.5.6.3. Brazil Intravascular Catheters Market Forecasts and Analysis - By End user (US$ Mn)
11. INDUSTRY LANDSCAPE
11.1. ORGANIC GROWTH STRATEGIES
11.1.1. New Product Launches
11.1.2. Marketing & Promotional Activities
11.2. INORGANIC GROWTH STRATEGIES
11.2.1. Partnerships, Collaborations, and Joint Ventures
11.2.2. Mergers & Acquisitions
12. INTRAVASCULAR CATHETERS MARKET, KEY COMPANY PROFILES
12.1. BD
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Financial Overview
12.1.4. Product Portfolio
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BOSTON SCIENTIFIC CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Financial Overview
12.2.4. Product Portfolio
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. SMITHS MEDICAL
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Financial Overview
12.3.4. Product Portfolio
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. EDWARDS LIFE SCIENCES CORPORATION
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Financial Overview
12.4.4. Product Portfolio
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. COLOPLAST
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Financial Overview
12.5.4. Product Portfolio
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MAQUET HOLDING B.V. & CO. KG
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Financial Overview
12.6.4. Product Portfolio
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. JOHNSON & JOHNSON SERVICES, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Financial Overview
12.7.4. Product Portfolio
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. MEDTRONIC
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Financial Overview
12.8.4. Product Portfolio
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. COOK
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Financial Overview
12.9.4. Product Portfolio
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. TERUMO CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Financial Overview
12.10.4. Product Portfolio
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. BD
2. Boston Scientific Corporation
3. Smiths Medical
4. Edwards Life Sciences Corporation
5. Coloplast
6. MAQUET Holding B.V. & Co. KG
7. Johnson & Johnson Services, Inc.
8. Medtronic
9. Cook
10. TERUMO 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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