The Medical Lifting Slings Market is expected to register a CAGR of 7.9% 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 Medical Lifting Slings Market by Product (Bariatric Slings, Seating Slings, Stand up Slings, Universal Slings, Hammock Slings, Transfer Slings, Toileting Slings); Usage (Reusable, Disposable); Shape (U Shape Slings, Full Body Slings); End User (Hospitals, Home Healthcare, Nursing Homes, Assisted Living Facility), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). 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 Medical Lifting Slings 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 Lifting Slings Market Segmentation
Product- Bariatric Slings
- Seating Slings
- Stand up Slings
- Universal Slings
- Hammock Slings
- Transfer Slings
- Toileting Slings
- Reusable
- Disposable
- U Shape Slings
- Full Body Slings
- Hospitals
- Home Healthcare
- Nursing Homes
- Assisted Living Facility
Strategic Insights
Medical Lifting Slings Market Growth Drivers- Increasing Incidence of Chronic Diseases: One of the main factors propelling the market is the growth in diabetes cases worldwide. About 537 million adults between the ages of 20 and 79 had diabetes in 2021, and estimates suggest that by 2030, there may be 643 million. Because of its increasing prevalence, igher rates of disability are a result of the prevalence of chronic illnesses like diabetes and cardiovascular disorders. Effective lifting solutions are in high demand since patients with severe diseases frequently need ongoing care and support.
- Rising Incidence of Geriatric Population: The number of people with diabetes and other chronic illnesses is growing as the population ages. This demographic shift is increasing demand for simple medical lifting slings like hammock slings since older persons are more likely to develop diabetes.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Government regulations: In order to guarantee safe patient handling and lower occupational injuries among healthcare professionals, numerous governments are putting policies into place that encourage the usage of medical lifting slings. By encouraging healthcare facilities to purchase the proper lifting equipment, these laws help to grow the industry.
- Technological Developments: Medical lifting slings are now more comfortable and functional thanks to advancements in materials and design. Modern nylon slings, for example, are more durable and resistant to infection, which makes them ideal for use in medical environments. Additionally, ongoing product development produces new features that enhance user convenience and patient safety.
- Reimbursement policies: The industry is expanding as a result of favorable government policies that support affordable and enhance access to healthcare. Patients can more easily obtain these devices thanks to expanded insurance coverage and reimbursement choices. Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Rising Healthcare Expenditure: Global healthcare spending growth encourages the purchase of cutting-edge medical equipment, such as lifting slings. Medical lifting slings are becoming more and more necessary as healthcare facilities modernize their equipment to enhance patient care.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Growing Awareness: Healthcare professionals are more conscious of the value of ergonomics and patient safety when managing patients. In order to reduce injuries during patient transfers, this awareness encourages the use of specialist equipment such as medical lifting slings.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- Expansion of market: Opportunities for market expansion are created by the rising investments in health services and the improvements being made to the healthcare infrastructure in developing regions. The need for medical lifting slings is anticipated to increase dramatically as these markets expand.
- Collaborations and partnerships between companies: New product launches and market advancements are the result of strategic alliances between manufacturers and healthcare providers. Partnerships can improve product awareness and distribution networks, which can propel market expansion even further. In order to improve longevity, comfort, and hygiene, high-strength materials like polyester and antibacterial textiles are being used more and more in the production of modern lifting slings. These materials increase the use of slings in healthcare settings by extending their lifespan and lowering the risk of infection.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medical Lifting Slings 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 Lifting Slings 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
This text is related
to country scope.
Frequently Asked Questions
In Europe, the UK held the second largest share in 2023.
Growing awareness
Hospitals segment held the largest share in 2023.
The Medical Lifting Slings Market is estimated to witness a CAGR of 7.9% from 2023 to 2031
North America held the largest share in 2023 and is expected to retain its dominance during the forecast period
Increasing Incidence of Chronic Diseases
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medical Lifting Slings Market - By Product
1.3.2 Medical Lifting Slings Market - By Usage
1.3.3 Medical Lifting Slings Market - By End User
1.3.4 Medical Lifting Slings Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL LIFTING SLINGS 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 LIFTING SLINGS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. MEDICAL LIFTING SLINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL LIFTING SLINGS - GLOBAL MARKET OVERVIEW
6.2. MEDICAL LIFTING SLINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MEDICAL LIFTING SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. BARIATRIC SLINGS
7.3.1. Overview
7.3.2. Bariatric Slings Market Forecast and Analysis
7.4. SEATING SLINGS
7.4.1. Overview
7.4.2. Seating Slings Market Forecast and Analysis
7.5. STAND UP SLINGS
7.5.1. Overview
7.5.2. Stand up Slings Market Forecast and Analysis
7.6. UNIVERSAL SLINGS
7.6.1. Overview
7.6.2. Universal Slings Market Forecast and Analysis
7.7. HAMMOCK SLINGS TRANSFER SLINGS
7.7.1. Overview
7.7.2. Hammock Slings Transfer Slings Market Forecast and Analysis
7.8. TOILETING SLINGS
7.8.1. Overview
7.8.2. Toileting Slings Market Forecast and Analysis
8. MEDICAL LIFTING SLINGS MARKET - REVENUE AND FORECASTS TO 2028 - USAGE
8.1. OVERVIEW
8.2. USAGE MARKET FORECASTS AND ANALYSIS
8.3. REUSABLE
8.3.1. Overview
8.3.2. Reusable Market Forecast and Analysis
8.4. DISPOSABLE; SHAPE - U SHAPE SLINGS
8.4.1. Overview
8.4.2. Disposable; Shape - U Shape Slings Market Forecast and Analysis
8.5. FULL BODY SLINGS
8.5.1. Overview
8.5.2. Full Body Slings Market Forecast and Analysis
9. MEDICAL LIFTING SLINGS 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. HOME HEALTHCARE
9.4.1. Overview
9.4.2. Home Healthcare Market Forecast and Analysis
9.5. NURSING HOMES
9.5.1. Overview
9.5.2. Nursing Homes Market Forecast and Analysis
9.6. ASSISTED LIVING FACILITY
9.6.1. Overview
9.6.2. Assisted Living Facility Market Forecast and Analysis
10. MEDICAL LIFTING SLINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medical Lifting Slings Market Overview
10.1.2 North America Medical Lifting Slings Market Forecasts and Analysis
10.1.3 North America Medical Lifting Slings Market Forecasts and Analysis - By Product
10.1.4 North America Medical Lifting Slings Market Forecasts and Analysis - By Usage
10.1.5 North America Medical Lifting Slings Market Forecasts and Analysis - By End User
10.1.6 North America Medical Lifting Slings Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medical Lifting Slings Market
10.1.6.1.1 United States Medical Lifting Slings Market by Product
10.1.6.1.2 United States Medical Lifting Slings Market by Usage
10.1.6.1.3 United States Medical Lifting Slings Market by End User
10.1.6.2 Canada Medical Lifting Slings Market
10.1.6.2.1 Canada Medical Lifting Slings Market by Product
10.1.6.2.2 Canada Medical Lifting Slings Market by Usage
10.1.6.2.3 Canada Medical Lifting Slings Market by End User
10.1.6.3 Mexico Medical Lifting Slings Market
10.1.6.3.1 Mexico Medical Lifting Slings Market by Product
10.1.6.3.2 Mexico Medical Lifting Slings Market by Usage
10.1.6.3.3 Mexico Medical Lifting Slings Market by End User
10.2. EUROPE
10.2.1 Europe Medical Lifting Slings Market Overview
10.2.2 Europe Medical Lifting Slings Market Forecasts and Analysis
10.2.3 Europe Medical Lifting Slings Market Forecasts and Analysis - By Product
10.2.4 Europe Medical Lifting Slings Market Forecasts and Analysis - By Usage
10.2.5 Europe Medical Lifting Slings Market Forecasts and Analysis - By End User
10.2.6 Europe Medical Lifting Slings Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medical Lifting Slings Market
10.2.6.1.1 Germany Medical Lifting Slings Market by Product
10.2.6.1.2 Germany Medical Lifting Slings Market by Usage
10.2.6.1.3 Germany Medical Lifting Slings Market by End User
10.2.6.2 France Medical Lifting Slings Market
10.2.6.2.1 France Medical Lifting Slings Market by Product
10.2.6.2.2 France Medical Lifting Slings Market by Usage
10.2.6.2.3 France Medical Lifting Slings Market by End User
10.2.6.3 Italy Medical Lifting Slings Market
10.2.6.3.1 Italy Medical Lifting Slings Market by Product
10.2.6.3.2 Italy Medical Lifting Slings Market by Usage
10.2.6.3.3 Italy Medical Lifting Slings Market by End User
10.2.6.4 Spain Medical Lifting Slings Market
10.2.6.4.1 Spain Medical Lifting Slings Market by Product
10.2.6.4.2 Spain Medical Lifting Slings Market by Usage
10.2.6.4.3 Spain Medical Lifting Slings Market by End User
10.2.6.5 United Kingdom Medical Lifting Slings Market
10.2.6.5.1 United Kingdom Medical Lifting Slings Market by Product
10.2.6.5.2 United Kingdom Medical Lifting Slings Market by Usage
10.2.6.5.3 United Kingdom Medical Lifting Slings Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medical Lifting Slings Market Overview
10.3.2 Asia-Pacific Medical Lifting Slings Market Forecasts and Analysis
10.3.3 Asia-Pacific Medical Lifting Slings Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Medical Lifting Slings Market Forecasts and Analysis - By Usage
10.3.5 Asia-Pacific Medical Lifting Slings Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Medical Lifting Slings Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medical Lifting Slings Market
10.3.6.1.1 Australia Medical Lifting Slings Market by Product
10.3.6.1.2 Australia Medical Lifting Slings Market by Usage
10.3.6.1.3 Australia Medical Lifting Slings Market by End User
10.3.6.2 China Medical Lifting Slings Market
10.3.6.2.1 China Medical Lifting Slings Market by Product
10.3.6.2.2 China Medical Lifting Slings Market by Usage
10.3.6.2.3 China Medical Lifting Slings Market by End User
10.3.6.3 India Medical Lifting Slings Market
10.3.6.3.1 India Medical Lifting Slings Market by Product
10.3.6.3.2 India Medical Lifting Slings Market by Usage
10.3.6.3.3 India Medical Lifting Slings Market by End User
10.3.6.4 Japan Medical Lifting Slings Market
10.3.6.4.1 Japan Medical Lifting Slings Market by Product
10.3.6.4.2 Japan Medical Lifting Slings Market by Usage
10.3.6.4.3 Japan Medical Lifting Slings Market by End User
10.3.6.5 South Korea Medical Lifting Slings Market
10.3.6.5.1 South Korea Medical Lifting Slings Market by Product
10.3.6.5.2 South Korea Medical Lifting Slings Market by Usage
10.3.6.5.3 South Korea Medical Lifting Slings Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medical Lifting Slings Market Overview
10.4.2 Middle East and Africa Medical Lifting Slings Market Forecasts and Analysis
10.4.3 Middle East and Africa Medical Lifting Slings Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Medical Lifting Slings Market Forecasts and Analysis - By Usage
10.4.5 Middle East and Africa Medical Lifting Slings Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Medical Lifting Slings Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medical Lifting Slings Market
10.4.6.1.1 South Africa Medical Lifting Slings Market by Product
10.4.6.1.2 South Africa Medical Lifting Slings Market by Usage
10.4.6.1.3 South Africa Medical Lifting Slings Market by End User
10.4.6.2 Saudi Arabia Medical Lifting Slings Market
10.4.6.2.1 Saudi Arabia Medical Lifting Slings Market by Product
10.4.6.2.2 Saudi Arabia Medical Lifting Slings Market by Usage
10.4.6.2.3 Saudi Arabia Medical Lifting Slings Market by End User
10.4.6.3 U.A.E Medical Lifting Slings Market
10.4.6.3.1 U.A.E Medical Lifting Slings Market by Product
10.4.6.3.2 U.A.E Medical Lifting Slings Market by Usage
10.4.6.3.3 U.A.E Medical Lifting Slings Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medical Lifting Slings Market Overview
10.5.2 South and Central America Medical Lifting Slings Market Forecasts and Analysis
10.5.3 South and Central America Medical Lifting Slings Market Forecasts and Analysis - By Product
10.5.4 South and Central America Medical Lifting Slings Market Forecasts and Analysis - By Usage
10.5.5 South and Central America Medical Lifting Slings Market Forecasts and Analysis - By End User
10.5.6 South and Central America Medical Lifting Slings Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medical Lifting Slings Market
10.5.6.1.1 Brazil Medical Lifting Slings Market by Product
10.5.6.1.2 Brazil Medical Lifting Slings Market by Usage
10.5.6.1.3 Brazil Medical Lifting Slings Market by End User
10.5.6.2 Argentina Medical Lifting Slings Market
10.5.6.2.1 Argentina Medical Lifting Slings Market by Product
10.5.6.2.2 Argentina Medical Lifting Slings Market by Usage
10.5.6.2.3 Argentina Medical Lifting Slings Market by End User
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. MEDICAL LIFTING SLINGS MARKET, KEY COMPANY PROFILES
12.1. INVACARE CORPORATION
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. MEDICAL DEPOT, INC
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. MEDLINE INDUSTRIES, INC
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. DJO GLOBAL
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. PRISM MEDICAL
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. HANDICARE
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. JOERNS HEALTHCARE LLC
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. OSPREY SLING COMPANY
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. NAUSICAA MEDICAL
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. HOVERTECH INTERNATIONAL.
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
- Invacare Corporation
- Medical Depot, Inc
- Medline Industries, Inc
- DJO Global
- Prism Medical
- Handicare
- Joerns Healthcare LLC
- Osprey Sling Company
- NAUSICAA MEDICAL
- HoverTech International.
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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