The Medical Coding Market is expected to register a CAGR of 11.10% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The Medical Coding Market report covers analysis By Classification System and End-User. The global analysis is further broken down at the regional level and major countries. The Report Offers the Value in US$ for the above analysis and segments.
Purpose of the ReportThe report Medical Coding 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.
Medical Coding Market Segmentation
Classification System- International Classification of Diseases
- Healthcare Common Procedure Code System
- In-house
- Outsourced
- Hospitals
- Diagnostic Center
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Medical Coding Market Growth Drivers- Aging Population Drives Coding Demand: Increasing the ever-growing demand for health care services with the expansion of the aging population and the rate of progression of chronic diseases seriously impacts the Medical Coding Market. This resultant demand is creating ample scope for medical coding professionals, and the Medical Coding Market share increases as providers of health care seek efficient coding solutions to streamline their operations.
- AI Enhances Coding Efficiency: Advances in technology, such as Artificial Intelligence and machine learning, have been at the forefront of Medical Coding Market growth. These technologies improve accuracy and efficiency in coding while eliminating probable errors to enhance compliance. A market analysis of the Medical Coding Market states that AI integration into the coding processes can cut down on the time required for coding by as much as 40%. As the acceptance of these technologies continues to rise in healthcare facilities, Medical Coding Market opportunities will continue to rise, hence a strong market growth report for stakeholders.
- Regulatory Changes Fuel Market Growth: Key drivers in the Medical Coding Market are the regulatory changes and the support of the healthcare industry to such changes. Activities, including the ICD-10 transition by healthcare service providers, will require them to alter coding practices and ensure regulation alignment to avoid penalties. An increase in demand for professional coders with strong coding systems is augmenting the share of the Medical Coding Market. This is a very big testimony to the stature of growth, as it brings continuous opportunities to train and certify within this very specific industry in the Medical Coding Market.
- Data Security Challenges in Coding: With healthcare organizations now having digital records, security and privacy of information are the main issues facing the medical coding market. Since there has been a rise in cyber crimes, providers in healthcare spend on the most advanced technologies to protect the private records of patients.
- Outsourcing Medical Coding Services: Outsourcing and offshoring are on the rise in the medical coding market because of the rising demand for cost-effective solutions and easy access to highly skilled professionals. Indeed, most healthcare organizations prefer outsourced coding services as a means of bringing operational costs under control without compromising quality standards. Medical coding market growth forecasted for the next five years is an average rise in outsourced coding services at 10%. North America is the forerunner to this revolution, with a majority of the firms embracing this global outsourcing model.
- Specialty Coding in High Demand: Medical treatments and specialties are becoming complicated day by day. The requirements for specialty coding services in the medical coding market are increasing. Coders specializing in areas like oncology, cardiology, and mental health are required for proper billing and compliance. The medical coding market trends foretell that this is one area of specialty expertise that will be in demand as it guarantees proper coding of complex procedures. As per current estimates, specialty coding can enhance revenue cycle management by up to 30% and, therefore, cannot be ignored.
- Value-Based Care Shifts Coding: The medical coding landscape is shifting with the shift from the fee-for-service model to value-based care. Providers are increasingly getting paid based on patient outcomes rather than the volume of service. And with that, their coding has to be as precise as possible because it will reflect the quality of care given to the patient. A 2023 report stated that 65 percent of healthcare organizations are investing in advanced coding solutions for value-based care initiatives. Medical coding market dynamics are therefore changeable, and it presents more comprehensive coding strategies that need to align with this value-based care model.
- Growth in Outsourcing of Medical Coding Services: One of the most significant market opportunities in the medical coding market lies in the trend of increasing outsourcing of medical coding services. Healthcare organizations, mostly in developed countries such as the U.S., are increasingly outsource medical coding to specialized third-party vendors to enhance efficiency, minimize costs, and ensure adherence to complex coding standards. Outsourcing enables healthcare providers to focus on patient care while delegating coding tasks to experts who are abreast of the latest codes, regulations, and payer requirements. As the healthcare industry becomes more digital and data-driven, the demand for accurate, timely medical coding will only increase, creating a substantial opportunity for medical coding service providers. This trend is further driven by the emergence of global healthcare service providers and the need for businesses to scale operations to meet increasing volume medical claims processing. Medical coding outsourcing market will be driven forward as more health care organizations seek to streamline operations and ensure coding accuracy
- Advancements in Artificial Intelligence and Automation: Integration of AI and automation technologies is another key opportunity in the medical coding market. AI and machine learning algorithms can assist medical coders by automating the process of code assignment, identifying inconsistencies, and even detecting potential billing errors. Such technologies can potentially reduce coding time, minimize human errors, and increase overall accuracy in medical documentation. The adoption of AI-powered coding solutions can enable healthcare providers to achieve higher operational efficiency and cost savings. In addition, as AI becomes more complex, it will be able to help manage the increased complexity of medical coding, including ICD-10, CPT, and HCPCS codes. The potential is in further development and deployment of AI-based tools to support healthcare organizations so that they may improve their coding accuracy and streamline their workflows. As more hospitals and clinics shift towards automation, the potential for growth in AI-driven medical coding solutions is very high.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medical Coding 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 Medical Coding 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
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Aviacode Inc, Maxim Health Information Services, Medical Record Associates LLC, Oracle Corporation, Parexel International Corporation, Precyse Solutions LLC, Verisk Analytics, STARTEK Health, Outsource Strategies International
The Medical Coding Market is expected to register a CAGR of 11.10% from 2023-2031.
Key future trends in this market are - Growth in healthcare digitization, Increased demand for compliance, Automation in coding processes
The major factors impacting the Medical Coding Market are: Regulatory Changes and Compliance Requirements, Technological Advancements, and Rising Demand for Healthcare Services
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medical Coding Market - By Classification System
1.3.2 Medical Coding Market - By Component
1.3.3 Medical Coding Market - By End-User
1.3.4 Medical Coding Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL CODING 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. MEDICAL CODING 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. MEDICAL CODING MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL CODING - GLOBAL MARKET OVERVIEW
6.2. MEDICAL CODING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MEDICAL CODING MARKET - REVENUE AND FORECASTS TO 2028 - CLASSIFICATION SYSTEM
7.1. OVERVIEW
7.2. CLASSIFICATION SYSTEM MARKET FORECASTS AND ANALYSIS
7.3. INTERNATIONAL CLASSIFICATION OF DISEASES (ICD)
7.3.1. Overview
7.3.2. International Classification of Diseases (ICD) Market Forecast and Analysis
7.4. HEALTHCARE COMMON PROCEDURE CODE SYSTEM (HCPCS)
7.4.1. Overview
7.4.2. Healthcare Common Procedure Code System (HCPCS) Market Forecast and Analysis
8. MEDICAL CODING MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. IN-HOUSE
8.3.1. Overview
8.3.2. In-house Market Forecast and Analysis
8.4. OUTSOURCED
8.4.1. Overview
8.4.2. Outsourced Market Forecast and Analysis
9. MEDICAL CODING 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. DIAGNOSTIC CENTER
9.4.1. Overview
9.4.2. Diagnostic Center Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. MEDICAL CODING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medical Coding Market Overview
10.1.2 North America Medical Coding Market Forecasts and Analysis
10.1.3 North America Medical Coding Market Forecasts and Analysis - By Classification System
10.1.4 North America Medical Coding Market Forecasts and Analysis - By Component
10.1.5 North America Medical Coding Market Forecasts and Analysis - By End-User
10.1.6 North America Medical Coding Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medical Coding Market
10.1.6.1.1 United States Medical Coding Market by Classification System
10.1.6.1.2 United States Medical Coding Market by Component
10.1.6.1.3 United States Medical Coding Market by End-User
10.1.6.2 Canada Medical Coding Market
10.1.6.2.1 Canada Medical Coding Market by Classification System
10.1.6.2.2 Canada Medical Coding Market by Component
10.1.6.2.3 Canada Medical Coding Market by End-User
10.2. EUROPE
10.2.1 Europe Medical Coding Market Overview
10.2.2 Europe Medical Coding Market Forecasts and Analysis
10.2.3 Europe Medical Coding Market Forecasts and Analysis - By Classification System
10.2.4 Europe Medical Coding Market Forecasts and Analysis - By Component
10.2.5 Europe Medical Coding Market Forecasts and Analysis - By End-User
10.2.6 Europe Medical Coding Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medical Coding Market
10.2.6.1.1 Germany Medical Coding Market by Classification System
10.2.6.1.2 Germany Medical Coding Market by Component
10.2.6.1.3 Germany Medical Coding Market by End-User
10.2.6.2 France Medical Coding Market
10.2.6.2.1 France Medical Coding Market by Classification System
10.2.6.2.2 France Medical Coding Market by Component
10.2.6.2.3 France Medical Coding Market by End-User
10.2.6.3 Italy Medical Coding Market
10.2.6.3.1 Italy Medical Coding Market by Classification System
10.2.6.3.2 Italy Medical Coding Market by Component
10.2.6.3.3 Italy Medical Coding Market by End-User
10.2.6.4 Spain Medical Coding Market
10.2.6.4.1 Spain Medical Coding Market by Classification System
10.2.6.4.2 Spain Medical Coding Market by Component
10.2.6.4.3 Spain Medical Coding Market by End-User
10.2.6.5 United Kingdom Medical Coding Market
10.2.6.5.1 United Kingdom Medical Coding Market by Classification System
10.2.6.5.2 United Kingdom Medical Coding Market by Component
10.2.6.5.3 United Kingdom Medical Coding Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medical Coding Market Overview
10.3.2 Asia-Pacific Medical Coding Market Forecasts and Analysis
10.3.3 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Classification System
10.3.4 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Component
10.3.5 Asia-Pacific Medical Coding Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Medical Coding Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medical Coding Market
10.3.6.1.1 Australia Medical Coding Market by Classification System
10.3.6.1.2 Australia Medical Coding Market by Component
10.3.6.1.3 Australia Medical Coding Market by End-User
10.3.6.2 China Medical Coding Market
10.3.6.2.1 China Medical Coding Market by Classification System
10.3.6.2.2 China Medical Coding Market by Component
10.3.6.2.3 China Medical Coding Market by End-User
10.3.6.3 India Medical Coding Market
10.3.6.3.1 India Medical Coding Market by Classification System
10.3.6.3.2 India Medical Coding Market by Component
10.3.6.3.3 India Medical Coding Market by End-User
10.3.6.4 Japan Medical Coding Market
10.3.6.4.1 Japan Medical Coding Market by Classification System
10.3.6.4.2 Japan Medical Coding Market by Component
10.3.6.4.3 Japan Medical Coding Market by End-User
10.3.6.5 South Korea Medical Coding Market
10.3.6.5.1 South Korea Medical Coding Market by Classification System
10.3.6.5.2 South Korea Medical Coding Market by Component
10.3.6.5.3 South Korea Medical Coding Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medical Coding Market Overview
10.4.2 Middle East and Africa Medical Coding Market Forecasts and Analysis
10.4.3 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Classification System
10.4.4 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Component
10.4.5 Middle East and Africa Medical Coding Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Medical Coding Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medical Coding Market
10.4.6.1.1 South Africa Medical Coding Market by Classification System
10.4.6.1.2 South Africa Medical Coding Market by Component
10.4.6.1.3 South Africa Medical Coding Market by End-User
10.4.6.2 Saudi Arabia Medical Coding Market
10.4.6.2.1 Saudi Arabia Medical Coding Market by Classification System
10.4.6.2.2 Saudi Arabia Medical Coding Market by Component
10.4.6.2.3 Saudi Arabia Medical Coding Market by End-User
10.4.6.3 U.A.E Medical Coding Market
10.4.6.3.1 U.A.E Medical Coding Market by Classification System
10.4.6.3.2 U.A.E Medical Coding Market by Component
10.4.6.3.3 U.A.E Medical Coding Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medical Coding Market Overview
10.5.2 South and Central America Medical Coding Market Forecasts and Analysis
10.5.3 South and Central America Medical Coding Market Forecasts and Analysis - By Classification System
10.5.4 South and Central America Medical Coding Market Forecasts and Analysis - By Component
10.5.5 South and Central America Medical Coding Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Medical Coding Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medical Coding Market
10.5.6.1.1 Brazil Medical Coding Market by Classification System
10.5.6.1.2 Brazil Medical Coding Market by Component
10.5.6.1.3 Brazil Medical Coding Market by End-User
10.5.6.2 Argentina Medical Coding Market
10.5.6.2.1 Argentina Medical Coding Market by Classification System
10.5.6.2.2 Argentina Medical Coding Market by Component
10.5.6.2.3 Argentina Medical Coding Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL MEDICAL CODING 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. MEDICAL CODING MARKET, KEY COMPANY PROFILES
13.1. PAREXEL INTERNATIONAL CORPORATION
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. STARTEK
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. VERISK ANALYTICS, 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. ORACLE
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. 3M
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. MAXIM HEALTH INFORMATION SERVICES
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. GENPACT
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. AVIACODE
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. MRA HEALTH INFORMATION SERVICES.
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. OPTUM INC.
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. Aviacode, Inc.
2. Maxim Health Information Services
3. Medical Record Associates LLC.
4. Oracle Corporation
5. Parexel International Corporation
6. Precyse Solutions, LLC.
7. Verisk Analytics
8. STARTEK Health
9. Outsource Strategies International
10. Genpact
11. Optum Inc.
12. Nuance Communications Inc
13. 3M Company
14. Precision Practice Management
15. Dolbey Systems Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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