The Kidney Stones Management Market is expected to register a CAGR of 5.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented By Type (Calcium , Uric Acid, Struvite, and Cysteine); Diagnostics (Abdominal X-ray, Computed Tomography Scan, Ultrasound, Abdominal MRI, Intravenous Pyelography, and Others); Treatment (Extracorporeal shock wave lithotripsy, Ureteroscopy, Percutaneous Nephrolithotomy, 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 Kidney Stones Management 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.
Kidney Stones Management Market Segmentation
Type- Calcium
- Uric Acid
- Struvite
- Cysteine
- Abdominal X-ray
- Computed Tomography Scan
- Ultrasound
- Abdominal MRI
- Intravenous Pyelography
- Others
- Extracorporeal shock wave lithotripsy
- Ureteroscopy
- Percutaneous Nephrolithotomy
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Kidney Stones Management Market Growth Drivers- Increasing Incidence of Kidney Stones: Studies indicate that in 2023, the incidence of kidney stones among youth and children has surged by 52% compared to previous years. This alarming trend suggests that the demand for treatments and diagnostic interventions for kidney stone management is increasing. Additionally, associated risk factors such as urological conditions affecting population is generating the need to create awareness regarding kidney health, and timely screening and diagnosis of disease to receive treatment.
- Changes in Lifestyle and Dietary Constructs: Soaring lifestyle and dietary changes have contributed to the rising prevalence of kidney stone incidence. The consumption of foods high in sodium and oxalates without adequate hydration are important factors. With the increasing number of people experiencing kidney stones associated with dietary changes, the need for management has grown. Public health initiatives focused on dietary shifts also contribute to increase due to prevention.
- Increased Awareness and Education: As awareness of kidney stones and their management rises, especially among the public and healthcare professionals, the market will continue to grow. Campaigns and educational tools are assisting people who are aware of risk factors, signs and symptoms. This will augment the demand for kidney stone treatment. Moreover, providers are expected to increase screening for kidney stone, particularly when it's obvious through patterns among high-risk populations.
- Research and Development Investments by Market Players: Market players such as Cook Medical and Boston Scientific Corporation are engaged in research and development of advanced technologies for kidney stone management and are introducing innovations to provide more effective options for the treatment. This competition and innovation lead to improvements in both surgical and non-surgical management, which is important due to the diverse patient population with kidney stone management needs. For example, newer lithotripsy devices are now aligned to produce better precision and efficacy in treating kidney stones. Investments to develop and launch such innovations are expected to boost the growth of the market.
- Improved Diagnostic Tools: Imaging technology like high-resolution ultrasound and CT scans has improved the resolution of kidney stone detection and can identify stones in the early stages, allowing for treatment plans to be customized and effective. Those advances in care will fuel demand for solutions in management.
- Increasing Options for Nonsurgical Treatment: The adoption of noninvasive treatment options is on the rise. Extracorporeal shock wave lithotripsy (ESWL) is just one of several noninvasive methods for treating stones. These options require less patient downtime than traditional surgery, and are also less risky for the patient and their healthcare team.
- Development of Preventive Care Programs: With increasing knowledge about kidney stone prevention comes the possibility of a more robust preventive care model related to dietary changes and hydration approaches based on individual risk factors to promote prevention. By focusing on prevention, we will reduce the number of kidney stones formed and thus a higher demand for kidney stone prevention will arise.
- Integration of Digital Health Options: The advent of new digital health technologies, such as remote monitoring applications and wearable technology, presents an opportunity to augment self-medication and patient monitoring. These technologies support patients in tracking their hydration levels, dietary habits, and medication adherence, leading to better management of kidney stone risk factors and improved outcomes.
- Growth of Research and Clinical Trials: There is a general increasing interest in research relative to the underlying causes of kidney stone disease and treatments for kidney stones. More funding for clinical trials will facilitate new discovery of therapies and preventative measures for kidney stones, leading to a broader range of management approaches and growth of the market as well.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Kidney Stones Management 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 Kidney Stones Management 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
Based on type, the market is segmented into abdominal X-ray, computed comography scan, ultrasound, abdominal MRI, intravenous pyelography, and others. The abdominal X-ray segment is expected to hold the largest kidney stones management market share in 2023.
On the basis of end-user market is further broken down into extracorporeal shock wave lithotripsy, ureteroscopy, percutaneous nephrolithotomy, and others. The ureteroscopy segment is expected to hold the largest kidney stones management market share in 2023.
DirexGroup,
Medispec Ltd.,
Stryker Corp,
Dornier Medtech,
Convergent Laser Technologies,
C. R. Bard, Inc.,
Boston Scientific Corporation,
Olympus Corporation,
Storz Medical AG
North America is expected to hold the largest share in the global kidney stones management market.
The major factors driving the kidney stones management market are:
1. Rising Knee Distortion in the Elderly Population.
2. Rising Number of Knee Repair Procedures
The Kidney Stones Management Market is estimated to witness a CAGR of 5.3% 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 Kidney Stones Management Market - By Type
1.3.2 Kidney Stones Management Market - By Diagnostics
1.3.3 Kidney Stones Management Market - By Treatment
1.3.4 Kidney Stones Management Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. KIDNEY STONES MANAGEMENT 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. KIDNEY STONES MANAGEMENT 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. KIDNEY STONES MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. KIDNEY STONES MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. KIDNEY STONES MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. KIDNEY STONES MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CALCIUM
7.3.1. Overview
7.3.2. Calcium Market Forecast and Analysis
7.4. URIC ACID
7.4.1. Overview
7.4.2. Uric Acid Market Forecast and Analysis
7.5. STRUVITE
7.5.1. Overview
7.5.2. Struvite Market Forecast and Analysis
7.6. CYSTEINE
7.6.1. Overview
7.6.2. Cysteine Market Forecast and Analysis
8. KIDNEY STONES MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - DIAGNOSTICS
8.1. OVERVIEW
8.2. DIAGNOSTICS MARKET FORECASTS AND ANALYSIS
8.3. ABDOMINAL X-RAY
8.3.1. Overview
8.3.2. Abdominal X-ray Market Forecast and Analysis
8.4. COMPUTED TOMOGRAPHY SCAN
8.4.1. Overview
8.4.2. Computed Tomography Scan Market Forecast and Analysis
8.5. ULTRASOUND
8.5.1. Overview
8.5.2. Ultrasound Market Forecast and Analysis
8.6. ABDOMINAL MRI
8.6.1. Overview
8.6.2. Abdominal MRI Market Forecast and Analysis
8.7. INTRAVENOUS PYELOGRAPHY
8.7.1. Overview
8.7.2. Intravenous Pyelography Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. KIDNEY STONES MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - TREATMENT
9.1. OVERVIEW
9.2. TREATMENT MARKET FORECASTS AND ANALYSIS
9.3. EXTRACORPOREAL SHOCK WAVE LITHOTRIPSY
9.3.1. Overview
9.3.2. Extracorporeal shock wave lithotripsy Market Forecast and Analysis
9.4. URETEROSCOPY
9.4.1. Overview
9.4.2. Ureteroscopy Market Forecast and Analysis
9.5. PERCUTANEOUS NEPHROLITHOTOMY
9.5.1. Overview
9.5.2. Percutaneous Nephrolithotomy Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. KIDNEY STONES MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Kidney Stones Management Market Overview
10.1.2 North America Kidney Stones Management Market Forecasts and Analysis
10.1.3 North America Kidney Stones Management Market Forecasts and Analysis - By Type
10.1.4 North America Kidney Stones Management Market Forecasts and Analysis - By Diagnostics
10.1.5 North America Kidney Stones Management Market Forecasts and Analysis - By Treatment
10.1.6 North America Kidney Stones Management Market Forecasts and Analysis - By Countries
10.1.6.1 United States Kidney Stones Management Market
10.1.6.1.1 United States Kidney Stones Management Market by Type
10.1.6.1.2 United States Kidney Stones Management Market by Diagnostics
10.1.6.1.3 United States Kidney Stones Management Market by Treatment
10.1.6.2 Canada Kidney Stones Management Market
10.1.6.2.1 Canada Kidney Stones Management Market by Type
10.1.6.2.2 Canada Kidney Stones Management Market by Diagnostics
10.1.6.2.3 Canada Kidney Stones Management Market by Treatment
10.1.6.3 Mexico Kidney Stones Management Market
10.1.6.3.1 Mexico Kidney Stones Management Market by Type
10.1.6.3.2 Mexico Kidney Stones Management Market by Diagnostics
10.1.6.3.3 Mexico Kidney Stones Management Market by Treatment
10.2. EUROPE
10.2.1 Europe Kidney Stones Management Market Overview
10.2.2 Europe Kidney Stones Management Market Forecasts and Analysis
10.2.3 Europe Kidney Stones Management Market Forecasts and Analysis - By Type
10.2.4 Europe Kidney Stones Management Market Forecasts and Analysis - By Diagnostics
10.2.5 Europe Kidney Stones Management Market Forecasts and Analysis - By Treatment
10.2.6 Europe Kidney Stones Management Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Kidney Stones Management Market
10.2.6.1.1 Germany Kidney Stones Management Market by Type
10.2.6.1.2 Germany Kidney Stones Management Market by Diagnostics
10.2.6.1.3 Germany Kidney Stones Management Market by Treatment
10.2.6.2 France Kidney Stones Management Market
10.2.6.2.1 France Kidney Stones Management Market by Type
10.2.6.2.2 France Kidney Stones Management Market by Diagnostics
10.2.6.2.3 France Kidney Stones Management Market by Treatment
10.2.6.3 Italy Kidney Stones Management Market
10.2.6.3.1 Italy Kidney Stones Management Market by Type
10.2.6.3.2 Italy Kidney Stones Management Market by Diagnostics
10.2.6.3.3 Italy Kidney Stones Management Market by Treatment
10.2.6.4 United Kingdom Kidney Stones Management Market
10.2.6.4.1 United Kingdom Kidney Stones Management Market by Type
10.2.6.4.2 United Kingdom Kidney Stones Management Market by Diagnostics
10.2.6.4.3 United Kingdom Kidney Stones Management Market by Treatment
10.2.6.5 Rest of Europe Kidney Stones Management Market
10.2.6.5.1 Rest of Europe Kidney Stones Management Market by Type
10.2.6.5.2 Rest of Europe Kidney Stones Management Market by Diagnostics
10.2.6.5.3 Rest of Europe Kidney Stones Management Market by Treatment
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Kidney Stones Management Market Overview
10.3.2 Asia-Pacific Kidney Stones Management Market Forecasts and Analysis
10.3.3 Asia-Pacific Kidney Stones Management Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Kidney Stones Management Market Forecasts and Analysis - By Diagnostics
10.3.5 Asia-Pacific Kidney Stones Management Market Forecasts and Analysis - By Treatment
10.3.6 Asia-Pacific Kidney Stones Management Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Kidney Stones Management Market
10.3.6.1.1 Australia Kidney Stones Management Market by Type
10.3.6.1.2 Australia Kidney Stones Management Market by Diagnostics
10.3.6.1.3 Australia Kidney Stones Management Market by Treatment
10.3.6.2 China Kidney Stones Management Market
10.3.6.2.1 China Kidney Stones Management Market by Type
10.3.6.2.2 China Kidney Stones Management Market by Diagnostics
10.3.6.2.3 China Kidney Stones Management Market by Treatment
10.3.6.3 India Kidney Stones Management Market
10.3.6.3.1 India Kidney Stones Management Market by Type
10.3.6.3.2 India Kidney Stones Management Market by Diagnostics
10.3.6.3.3 India Kidney Stones Management Market by Treatment
10.3.6.4 Japan Kidney Stones Management Market
10.3.6.4.1 Japan Kidney Stones Management Market by Type
10.3.6.4.2 Japan Kidney Stones Management Market by Diagnostics
10.3.6.4.3 Japan Kidney Stones Management Market by Treatment
10.3.6.5 South Korea Kidney Stones Management Market
10.3.6.5.1 South Korea Kidney Stones Management Market by Type
10.3.6.5.2 South Korea Kidney Stones Management Market by Diagnostics
10.3.6.5.3 South Korea Kidney Stones Management Market by Treatment
10.3.6.6 Indonesia Kidney Stones Management Market
10.3.6.6.1 Indonesia Kidney Stones Management Market by Type
10.3.6.6.2 Indonesia Kidney Stones Management Market by Diagnostics
10.3.6.6.3 Indonesia Kidney Stones Management Market by Treatment
10.3.6.7 Rest of Asia-Pacific Kidney Stones Management Market
10.3.6.7.1 Rest of Asia-Pacific Kidney Stones Management Market by Type
10.3.6.7.2 Rest of Asia-Pacific Kidney Stones Management Market by Diagnostics
10.3.6.7.3 Rest of Asia-Pacific Kidney Stones Management Market by Treatment
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Kidney Stones Management Market Overview
10.4.2 Middle East and Africa Kidney Stones Management Market Forecasts and Analysis
10.4.3 Middle East and Africa Kidney Stones Management Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Kidney Stones Management Market Forecasts and Analysis - By Diagnostics
10.4.5 Middle East and Africa Kidney Stones Management Market Forecasts and Analysis - By Treatment
10.4.6 Middle East and Africa Kidney Stones Management Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Kidney Stones Management Market
10.4.6.1.1 South Africa Kidney Stones Management Market by Type
10.4.6.1.2 South Africa Kidney Stones Management Market by Diagnostics
10.4.6.1.3 South Africa Kidney Stones Management Market by Treatment
10.4.6.2 Saudi Arabia Kidney Stones Management Market
10.4.6.2.1 Saudi Arabia Kidney Stones Management Market by Type
10.4.6.2.2 Saudi Arabia Kidney Stones Management Market by Diagnostics
10.4.6.2.3 Saudi Arabia Kidney Stones Management Market by Treatment
10.4.6.3 U.A.E Kidney Stones Management Market
10.4.6.3.1 U.A.E Kidney Stones Management Market by Type
10.4.6.3.2 U.A.E Kidney Stones Management Market by Diagnostics
10.4.6.3.3 U.A.E Kidney Stones Management Market by Treatment
10.4.6.4 Rest of Middle East and Africa Kidney Stones Management Market
10.4.6.4.1 Rest of Middle East and Africa Kidney Stones Management Market by Type
10.4.6.4.2 Rest of Middle East and Africa Kidney Stones Management Market by Diagnostics
10.4.6.4.3 Rest of Middle East and Africa Kidney Stones Management Market by Treatment
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Kidney Stones Management Market Overview
10.5.2 South and Central America Kidney Stones Management Market Forecasts and Analysis
10.5.3 South and Central America Kidney Stones Management Market Forecasts and Analysis - By Type
10.5.4 South and Central America Kidney Stones Management Market Forecasts and Analysis - By Diagnostics
10.5.5 South and Central America Kidney Stones Management Market Forecasts and Analysis - By Treatment
10.5.6 South and Central America Kidney Stones Management Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Kidney Stones Management Market
10.5.6.1.1 Brazil Kidney Stones Management Market by Type
10.5.6.1.2 Brazil Kidney Stones Management Market by Diagnostics
10.5.6.1.3 Brazil Kidney Stones Management Market by Treatment
10.5.6.2 Argentina Kidney Stones Management Market
10.5.6.2.1 Argentina Kidney Stones Management Market by Type
10.5.6.2.2 Argentina Kidney Stones Management Market by Diagnostics
10.5.6.2.3 Argentina Kidney Stones Management Market by Treatment
10.5.6.3 Rest of South and Central America Kidney Stones Management Market
10.5.6.3.1 Rest of South and Central America Kidney Stones Management Market by Type
10.5.6.3.2 Rest of South and Central America Kidney Stones Management Market by Diagnostics
10.5.6.3.3 Rest of South and Central America Kidney Stones Management Market by Treatment
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL KIDNEY STONES MANAGEMENT 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. KIDNEY STONES MANAGEMENT MARKET, KEY COMPANY PROFILES
13.1. ALLENGERS
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. BOSTON SCIENTIFIC CORPORATIOM
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. OLYMPUS CORP.
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. C. R. BARD INC. (BD)
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. STORZ MEDICAL AG
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. CONVERGENT LASER TECHNOLOGIES
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. DORNIER MEDTECH
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. STRYKER CORP,
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. DIREXGROUP
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. MEDISPEC LTD.,
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. DirexGroup,
2. Medispec Ltd.,
3. Stryker Corp,
4. Dornier Medtech,
5. Convergent Laser Technologies,
6. C. R. Bard, Inc.,
7. Boston Scientific Corporation,
8. Olympus Corporation,
9. Storz Medical AG
10. Allengers
11. Cook Medical Inc.
12. Richard Wolf GmbH
13. Lumenis
14. EDAP TMS
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:
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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
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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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