Medical Device Technologies Market Scope and Size by 2031
The medical device technologies market is expected to witness growth during the forecast period due to increasing incidences of chronic diseases like cardiovascular, hypertension, diabetes, cancer, and respiratory disorders and others and major market players involved in the medical device technologies market. Also the rapid adoption of technologically advanced devices and preference for minimally invasive surgeries and developing treatment approaches are expected to boost the market growth. Also the development of robotically-assisted surgeries and advanced implants are expected to play a pivotal role in the development of medical device technologies market. However, stringent regulations for medical device technologies market surgery may hamper the market growth.
The "Global Medical Device Technologies Market Analysis to 2031" is a specialized and in-depth study of the medical device industry with a focus on the global market trend. The report aims to provide an overview of global medical device technologies market with detailed market segmentation by device type and end user. The global medical device technologies market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
The global medical device technologies market is segmented on the basis of device type and end user. The device type segment includes, in vitro diagnostic (IVD) devices, cardiology devices, diagnostic imaging devices, orthopedic devices, ophthalmology devices, endoscopy devices, diabetes care devices, wound management devices, kidney/dialysis devices, anesthesia and respiratory care devices and others. By end user, the market is segmented into hospitals & clinics, ambulatory care centers, home care and others.
The medical device technologies market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global medical device technologies market based on device type and end user. It also provides market size and forecast till 2031 for overall medical device technologies market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 countries globally along with current trend and opportunities prevailing in the region.
By region, North America held the largest share in 2021 in the medical device technologies market. The large share of the segment is due to factors like the presence of a large number of major market players, the increasing prevalence of chronic conditions, favorable healthcare policies, and increasing preference of the patients for minimally invasive surgeries. These factors contribute to the segment's dominance throughout the forecast period. Asia-Pacific expecting high growth for the medical device technologies market due to increasing number of healthcare facilities, large patient population and growing healthcare expenditures,. The high potential for cost-savings on medical procedures in Asian countries such as Singapore, India and Thailand will also boost the market growth in this region.
The medical device technologies market report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions.
The medical device technologies market report also includes the profiles of key medical device technologies market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market are JOHNSON & JOHNSON SERVICES, INC., General Electric Company, Smith & Nephew, Stryker, Medtronic, Siemens Healthcare Private Limited, KONINKLIJKE PHILIPS N.V., F. HOFFMANN-LA ROCHE LTD, Abbott, and Boston Scientific Corporation among others.
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
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2. KEY TAKEAWAYS
3. MEDICAL DEVICE TECHNOLOGIES MARKET LANDSCAPE
3.1. MARKET OVERVIEW
3.2. MARKET SEGMENTATION
3.2.1. Medical Device Technologies Market - By Device Type
3.2.2. Medical Device Technologies Market - By End User
3.2.3. Medical Device Technologies Market - By Region
3.2.3.1. By Country
3.3. PEST ANALYSIS
3.3.1. North America - PEST Analysis
3.3.2. Europe - PEST Analysis
3.3.3. Asia Pacific - PEST Analysis
3.3.4. Middle East and Africa - PEST Analysis
3.3.5. South and Central America - PEST Analysis
4. MEDICAL DEVICE TECHNOLOGIES MARKET - KEY INDUSTRY DYNAMICS
4.1. KEY MARKET DRIVERS
4.2. KEY MARKET RESTRAINTS
4.3. KEY MARKET OPPORTUNITIES
4.4. FUTURE TRENDS
4.5. IMPACT ANALYSIS
5. MEDICAL DEVICE TECHNOLOGIES MARKET - GLOBAL ANALYSIS
5.1. GLOBAL MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
5.2. GLOBAL MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
5.3. PERFORMANCE OF KEY PLAYERS
5.4. EXPERT OPINIONS
6. MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - DEVICE TYPE (US$ MN)
6.1. OVERVIEW
6.2. DEVICE TYPE MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
6.3. IN VITRO DIAGNOSTIC (IVD) DEVICES MARKET
6.3.1. Overview
6.3.2. In Vitro Diagnostic (IVD) Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.4. CARDIOLOGY DEVICES MARKET
6.4.1. Overview
6.4.2. Cardiology Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.5. DIAGNOSTIC IMAGING DEVICES MARKET
6.5.1. Overview
6.5.2. Diagnostic Imaging Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.6. ORTHOPEDIC DEVICES MARKET
6.6.1. Overview
6.6.2. Orthopedic Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.7. OPHTHALMOLOGY DEVICES MARKET
6.7.1. Overview
6.7.2. Ophthalmology Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.8. DIABETES CARE DEVICES MARKET
6.8.1. Overview
6.8.2. Diabetes Care Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.9. WOUND MANAGEMENT DEVICES MARKET
6.9.1. Overview
6.9.2. Wound Management Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.10. KIDNEY/DIALYSIS DEVICES MARKET
6.10.1. Overview
6.10.2. Kidney/Dialysis Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.11. WOUND MANAGEMENT DEVICES MARKET
6.11.1. Overview
6.11.2. Wound Management Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.12. ANESTHESIA AND RESPIRATORY CARE DEVICES MARKET
6.12.1. Overview
6.12.2. Anesthesia and Respiratory Care Devices Market Revenue Forecasts and Analysis (US$ Mn)
6.13. OTHERS MARKET
6.13.1. Overview
6.13.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
7. MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - END USER (US$ MN)
7.1. OVERVIEW
7.2. END USER MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
7.3. HOSPITALS & CLINICS MARKET
7.3.1. Overview
7.3.2. Hospitals & Clinics Market Revenue Forecasts and Analysis (US$ Mn)
7.4. AMBULATORY CARE CENTERS MARKET
7.4.1. Overview
7.4.2. Ambulatory Care Centers Market Revenue Forecasts and Analysis (US$ Mn)
7.5. HOMECARE MARKET
7.5.1. Overview
7.5.2. Homecare Market Revenue Forecasts and Analysis (US$ Mn)
7.6. OTHERS MARKET
7.6.1. Overview
7.6.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
8. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
8.1. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
8.2. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
8.3. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY DEVICE TYPE (US$ MN)
8.4. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
8.5. NORTH AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
8.6. US MARKET OVERVIEW
8.6.1. US Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
8.6.2. US Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
8.7. CANADA MARKET OVERVIEW
8.7.1. Canada Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
8.7.2. Canada Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
8.8. MEXICO MARKET OVERVIEW
8.8.1. Mexico Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
8.8.2. Mexico Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
9. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
9.1. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
9.2. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
9.3. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY DEVICE TYPE (US$ MN)
9.4. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
9.5. EUROPE MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
9.6. UK MARKET OVERVIEW
9.6.1. UK Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
9.6.2. UK Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
9.7. GERMANY MARKET OVERVIEW
9.7.1. Germany Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
9.7.2. Germany Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
9.8. FRANCE MARKET OVERVIEW
9.8.1. France Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
9.8.2. France Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
10. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
10.1. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
10.2. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
10.3. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY DEVICE TYPE (US$ MN)
10.4. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
10.5. ASIA PACIFIC MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
10.6. JAPAN MARKET OVERVIEW
10.6.1. Japan Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
10.6.2. Japan Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
10.7. CHINA MARKET OVERVIEW
10.7.1. China Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
10.7.2. China Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
10.8. INDIA MARKET OVERVIEW
10.8.1. India Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
10.8.2. )
10.8.3. India Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
11.1. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
11.2. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
11.3. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY DEVICE TYPE (US$ MN)
11.4. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
11.5. MIDDLE EAST AND AFRICA (MEA) MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
11.6. SOUTH AFRICA MARKET OVERVIEW
11.6.1. South Africa Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
11.6.2. South Africa Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11.7. SAUDI ARABIA MARKET OVERVIEW
11.7.1. Saudi Arabia Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
11.7.2. Saudi Arabia Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11.8. UAE MARKET OVERVIEW
11.8.1. UAE Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
11.8.2. UAE Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
12. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
12.1. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET OVERVIEW
12.2. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
12.3. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY DEVICE TYPE (US$ MN)
12.4. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
12.5. SOUTH AND CENTRAL AMERICA MEDICAL DEVICE TECHNOLOGIES MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
12.6. BRAZIL MARKET OVERVIEW
12.6.1. Brazil Medical Device Technologies Market Revenue Forecasts and Analysis-By Device Type (US$ Mn)
12.6.2. Brazil Medical Device Technologies Market Revenue Forecasts and Analysis-By End User (US$ Mn)
13. INDUSTRY LANDSCAPE
13.1. ORGANIC GROWTH STRATEGIES
13.1.1. New Product Launches
13.1.2. Marketing & Promotional Activities
13.2. INORGANIC GROWTH STRATEGIES
13.2.1. Partnerships, Collaborations, and Joint Ventures
13.2.2. Mergers & Acquisitions
14. MEDICAL DEVICE TECHNOLOGIES MARKET, KEY COMPANY PROFILES
14.1. JOHNSON & JOHNSON SERVICES, INC.
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Financial Overview
14.1.4. Product Portfolio
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. GENERAL ELECTRIC
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Financial Overview
14.2.4. Product Portfolio
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. SMITH & NEPHEW
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Financial Overview
14.3.4. Product Portfolio
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. STRYKER
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Financial Overview
14.4.4. Product Portfolio
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. MEDTRONIC
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Financial Overview
14.5.4. Product Portfolio
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. SIEMENS HEALTHCARE PRIVATE LIMITED
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Financial Overview
14.6.4. Product Portfolio
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. KONINKLIJKE PHILIPS N.V.
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Financial Overview
14.7.4. Product Portfolio
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. F. HOFFMANN-LA ROCHE LTD
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Financial Overview
14.8.4. Product Portfolio
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. ABBOTT
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Financial Overview
14.9.4. Product Portfolio
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. BOSTON SCIENTIFIC CORPORATION
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Financial Overview
14.10.4. Product Portfolio
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
15.3. RESEARCH METHODOLOGY
1. JOHNSON & JOHNSON SERVICES, INC.
2. GENERAL ELECTRIC
3. SMITH & NEPHEW
4. STRYKER
5. MEDTRONIC
6. SIEMENS HEALTHCARE PRIVATE LIMITED
7. KONINKLIJKE PHILIPS N.V.
8. F. HOFFMANN-LA ROCHE LTD
9. ABBOTT.
10. BOSTON SCIENTIFIC 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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