Limb Prosthetics Market Overview, Growth, Trends, Analysis (2021-2031)

Coverage: Limb Prosthetics Market covers analysis By Product (Upper-extremity Prostheses, Lower-extremity Prostheses); Application (Leg Disabled People, Arm Disabled People), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00021177
  • Category : Life Sciences
  • No. of Pages : 150
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Limb Prosthetics Market Insights and Updates by 2031

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The Limb Prosthetics Market is expected to register a CAGR of 5.6% 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 (Upper-extremity Prostheses, Lower-extremity Prostheses). The report further presents analysis based on the Application (Leg Disabled People, Arm Disabled People). 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 Report

The report Limb Prosthetics 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.

Limb Prosthetics Market Segmentation

Product
  • Upper-extremity Prostheses
  • Lower-extremity Prostheses
Application
  • Leg Disabled People
  • Arm Disabled People

Strategic Insights

Limb Prosthetics Market Growth Drivers
  • Structural Adjustments in the Services Provided and Market Integration: Technologies Present in the Market for External Limb Prosthesis. Voice Controlled s treatment solutions allow seamless interaction between prosthetic devices and the patient through enabling the patient use the voice to operate the prosthetic device. mobile prosthetics Several mobile prosthetics have been designed in allowing individuals with limb loss to perform some tasks. Bionic limbs, powered by AI to enable a person to move as naturally as possible, as well as prosthetics that are comfortable & highly durable have transformed the whole paradigm of the rehabilitation process for the amputees. These advancements enable the users to assimilate more natural movements and enhance their way of living.
  • Rising Prevalence of Limb Loss: Christensen et al. (2014) addressed limb loss as a major challenge that resurrection prosthetics in the recent past has hardly coped up. Artificial limb prosthetics active components that can extent motor function of the wearer beyond the range of motion of his/her natural limb and help reduce the phrases of the limb wear out are a significant driving factor in the forecasting development of the prosthetics industry. World Health Organization (WHO) suggests that there is one in 1000 people incidences of limb loss across in every nation. Due to the trend of aging of the world population as well as increasing propensity to chronic diseases such as diabetes, the demand for quality artificial limbs which can greatly enhance mobility is expected to increase. In this course, the use of rehabilitation and physiotherapy measures incorporating such health technologies as prosthetic devices is expanding.
  • Government and Healthcare Initiatives: Government support and health care policies to make such prosthetic systems available and affordable to the population are key factors propelling the market growth. Prosthetic devices, as well as rehabilitation services, are supported by many national governments to enhance the services offered to amputees. Also, it is notable that prosthetic device reimbursements are on the rise thus making these prosthetic solutions available for a wider range of clients. Focused public health campaigns on rehabilitation and social inclusion of disabled persons
Limb Prosthetics Market Future Trends
  • Mass production of prosthetics and adapting changes: Production methods of prosthetics and accommodating alterations made to it. This encompasses variants of wraps for eyeglasses to the supplying of components used for making unique prosthetic apparatuses. Proposing that many faster speeds of production, lower costs, and more complex functional design of the prosthesis which is light in weight has been made possible owing to the invention of 3D printing. Customization is very much useful in case of the patient having specific demands regarding the design because it will allow the better fitting and working prosthetics appliances which in turn will greatly enhance the experience in the patients.
  • Integration of Smart Technologies in the Design of Prosthetics: As one of the highly rated advancements of the limb prosthesis industry, the modern limb prosthesis design, has revolutionalized many incorporative smart technologies. Today the movement and usability of prosthetic limbs include their embedded with certain sensors and controlled by artificial intelligence systems. Smart prosthetic limbs, for instance, can track the user’s motion, the environment changes, and interact with cellphones and other gadgets. This system enhancement renders the artificial limbs more active and dynamic depending on the type of activity performed.
  • Light and Sturdy Materials: Attributed as progressive in material science; prosthetic devices in this classification are constructed with materials that are lightweight and highly endurable. Advanced prosthetics have now incorporated newer plastics, carbon fiber, and even titanium making them much lighter hence ease of usage over longer durations. The use of these considerations and assessments in the design and manufacture of prosthetic devices enhances the comfort and effectiveness of the devices
Limb Prosthetics Market Opportunities
  • Engaging with Insurers: Given that the prosthetic industry and the insurance sector have the potential to collaborate which will in turn increase the market base. The policy on the insurance of prosthesis devices has improved in recent times enabling every amputee undergo expensive rehabilitation and get bio: mechanical devices like robotic arms or custom made devices. Collaborations of the manufacturers and the insurers encourage the development of better policies, hence enabling more patients to afford high standard prosthetics.
  • Expansion of the Pediatric Prosthetics Market: Growth in Pediatric prosthetics is an important current trend which has a bright upside. Prosthetic devices for kids need to be growth accommodating and evolving with change. The opportunity exists for the manufacturers to use the prosthetics for children with features such as adjustable parts, materials that are lighter and attractive functional solutions. In addition, a provision of prosthetics for children born with limb abnormalities can provide a potential market with a decent futuristic value.
  • Developing Inclusive Products and Services: Increasing the offer of services to amputees by incorporating rehabilitation and psychological services provides great potential in the prosthetic limb market. Those manufacturers of prosthetics who offer post: surgery re: habilitation services, as well as psychological support are in a better position to fulfill the needs of the amputees fully. This can help in not only faster physical rehabilitation, but also aid in the mental well: being of the patients and thus increase the overall contentment and results.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Limb Prosthetics 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 Limb Prosthetics 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


Which are some of the players operating in the Limb Prosthetics market?

Players operating in the market are Ottobock, Ossur, Willow Wood, Blatchford, Fillauer Europe AB, Streifeneder USA, Freedom Innovations, Medi, SILIPOS HOLDING, ST&G Corporation

Which segment accounts for highest revenue by product in 2023?

Upper-extremity Prostheses segment, by product, dominated the market in 2023.

Which region dominated the Limb Prosthetics market in 2023?

North America region dominated the Limb Prosthetics market in 2023.

What are the factor that act as a opportunity for market growth?

Engaging with Insurersact as a opportunity for growth of the market in forecast period.

What is the expected CAGR of the Limb Prosthetics Market?

The Limb Prosthetics Market is estimated to witness a CAGR of 5.6% from 202#to 2031

What are the driving factors impacting the Limb Prosthetics market?

The major factors driving the Limb Prosthetics market are:

1. Rising Prevalence of Limb Loss

2. Government and Healthcare Initiatives

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Limb Prosthetics Market - By Product
1.3.2 Limb Prosthetics Market - By Application
1.3.3 Limb Prosthetics Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LIMB PROSTHETICS 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. LIMB PROSTHETICS 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. LIMB PROSTHETICS MARKET - GLOBAL MARKET ANALYSIS
6.1. LIMB PROSTHETICS - GLOBAL MARKET OVERVIEW
6.2. LIMB PROSTHETICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LIMB PROSTHETICS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. UPPER-EXTREMITY PROSTHESES
7.3.1. Overview
7.3.2. Upper-extremity Prostheses Market Forecast and Analysis
7.4. LOWER-EXTREMITY PROSTHESES
7.4.1. Overview
7.4.2. Lower-extremity Prostheses Market Forecast and Analysis
8. LIMB PROSTHETICS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LEG DISABLED PEOPLE
8.3.1. Overview
8.3.2. Leg Disabled People Market Forecast and Analysis
8.4. ARM DISABLED PEOPLE
8.4.1. Overview
8.4.2. Arm Disabled People Market Forecast and Analysis
9. LIMB PROSTHETICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Limb Prosthetics Market Overview
9.1.2 North America Limb Prosthetics Market Forecasts and Analysis
9.1.3 North America Limb Prosthetics Market Forecasts and Analysis - By Product
9.1.4 North America Limb Prosthetics Market Forecasts and Analysis - By Application
9.1.5 North America Limb Prosthetics Market Forecasts and Analysis - By Countries
9.1.5.1 United States Limb Prosthetics Market
9.1.5.1.1 United States Limb Prosthetics Market by Product
9.1.5.1.2 United States Limb Prosthetics Market by Application
9.1.5.2 Canada Limb Prosthetics Market
9.1.5.2.1 Canada Limb Prosthetics Market by Product
9.1.5.2.2 Canada Limb Prosthetics Market by Application
9.1.5.3 Mexico Limb Prosthetics Market
9.1.5.3.1 Mexico Limb Prosthetics Market by Product
9.1.5.3.2 Mexico Limb Prosthetics Market by Application
9.2. EUROPE
9.2.1 Europe Limb Prosthetics Market Overview
9.2.2 Europe Limb Prosthetics Market Forecasts and Analysis
9.2.3 Europe Limb Prosthetics Market Forecasts and Analysis - By Product
9.2.4 Europe Limb Prosthetics Market Forecasts and Analysis - By Application
9.2.5 Europe Limb Prosthetics Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Limb Prosthetics Market
9.2.5.1.1 Germany Limb Prosthetics Market by Product
9.2.5.1.2 Germany Limb Prosthetics Market by Application
9.2.5.2 France Limb Prosthetics Market
9.2.5.2.1 France Limb Prosthetics Market by Product
9.2.5.2.2 France Limb Prosthetics Market by Application
9.2.5.3 Italy Limb Prosthetics Market
9.2.5.3.1 Italy Limb Prosthetics Market by Product
9.2.5.3.2 Italy Limb Prosthetics Market by Application
9.2.5.4 Spain Limb Prosthetics Market
9.2.5.4.1 Spain Limb Prosthetics Market by Product
9.2.5.4.2 Spain Limb Prosthetics Market by Application
9.2.5.5 United Kingdom Limb Prosthetics Market
9.2.5.5.1 United Kingdom Limb Prosthetics Market by Product
9.2.5.5.2 United Kingdom Limb Prosthetics Market by Application
9.2.5.6 Rest of Europe Limb Prosthetics Market
9.2.5.6.1 Rest of Europe Limb Prosthetics Market by Product
9.2.5.6.2 Rest of Europe Limb Prosthetics Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Limb Prosthetics Market Overview
9.3.2 Asia-Pacific Limb Prosthetics Market Forecasts and Analysis
9.3.3 Asia-Pacific Limb Prosthetics Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Limb Prosthetics Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Limb Prosthetics Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Limb Prosthetics Market
9.3.5.1.1 Australia Limb Prosthetics Market by Product
9.3.5.1.2 Australia Limb Prosthetics Market by Application
9.3.5.2 China Limb Prosthetics Market
9.3.5.2.1 China Limb Prosthetics Market by Product
9.3.5.2.2 China Limb Prosthetics Market by Application
9.3.5.3 India Limb Prosthetics Market
9.3.5.3.1 India Limb Prosthetics Market by Product
9.3.5.3.2 India Limb Prosthetics Market by Application
9.3.5.4 Japan Limb Prosthetics Market
9.3.5.4.1 Japan Limb Prosthetics Market by Product
9.3.5.4.2 Japan Limb Prosthetics Market by Application
9.3.5.5 South Korea Limb Prosthetics Market
9.3.5.5.1 South Korea Limb Prosthetics Market by Product
9.3.5.5.2 South Korea Limb Prosthetics Market by Application
9.3.5.6 Rest of Asia-Pacific Limb Prosthetics Market
9.3.5.6.1 Rest of Asia-Pacific Limb Prosthetics Market by Product
9.3.5.6.2 Rest of Asia-Pacific Limb Prosthetics Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Limb Prosthetics Market Overview
9.4.2 Middle East and Africa Limb Prosthetics Market Forecasts and Analysis
9.4.3 Middle East and Africa Limb Prosthetics Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Limb Prosthetics Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Limb Prosthetics Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Limb Prosthetics Market
9.4.5.1.1 South Africa Limb Prosthetics Market by Product
9.4.5.1.2 South Africa Limb Prosthetics Market by Application
9.4.5.2 Saudi Arabia Limb Prosthetics Market
9.4.5.2.1 Saudi Arabia Limb Prosthetics Market by Product
9.4.5.2.2 Saudi Arabia Limb Prosthetics Market by Application
9.4.5.3 U.A.E Limb Prosthetics Market
9.4.5.3.1 U.A.E Limb Prosthetics Market by Product
9.4.5.3.2 U.A.E Limb Prosthetics Market by Application
9.4.5.4 Rest of Middle East and Africa Limb Prosthetics Market
9.4.5.4.1 Rest of Middle East and Africa Limb Prosthetics Market by Product
9.4.5.4.2 Rest of Middle East and Africa Limb Prosthetics Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Limb Prosthetics Market Overview
9.5.2 South and Central America Limb Prosthetics Market Forecasts and Analysis
9.5.3 South and Central America Limb Prosthetics Market Forecasts and Analysis - By Product
9.5.4 South and Central America Limb Prosthetics Market Forecasts and Analysis - By Application
9.5.5 South and Central America Limb Prosthetics Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Limb Prosthetics Market
9.5.5.1.1 Brazil Limb Prosthetics Market by Product
9.5.5.1.2 Brazil Limb Prosthetics Market by Application
9.5.5.2 Argentina Limb Prosthetics Market
9.5.5.2.1 Argentina Limb Prosthetics Market by Product
9.5.5.2.2 Argentina Limb Prosthetics Market by Application
9.5.5.3 Rest of South and Central America Limb Prosthetics Market
9.5.5.3.1 Rest of South and Central America Limb Prosthetics Market by Product
9.5.5.3.2 Rest of South and Central America Limb Prosthetics Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL LIMB PROSTHETICS MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
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. LIMB PROSTHETICS MARKET, KEY COMPANY PROFILES
12.1. OTTOBOCK
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. OSSUR
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. WILLOW WOOD
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. BLATCHFORD
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. FILLAUER EUROPE AB
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. STREIFENEDER USA
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. FREEDOM INNOVATIONS
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. MEDI
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. SILIPOS HOLDING
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. STANDG CORPORATION
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
The List of Companies

1. Ottobock
2. Ossur
3. Willow Wood
4. Blatchford
5. Fillauer Europe AB
6. Streifeneder USA
7. Freedom Innovations
8. Medi
9. SILIPOS HOLDING
10. ST&G Corporation
11. Engineered Silicone Products
12. College Park Industries
13. Steeper Inc.
14. TRS Inc.
15. Howard Orthopedics Inc.
16. CPOUSA
17. Coapt LLC
18. Endolite India Ltd.
19. Ortho Europe
20. Aesthetic Prosthetic Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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