Medical Thermometer Market | 2031 Insights | Recent updates
The Medical Thermometer Market is expected to register a CAGR of 9.3% 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 Age (Pediatrics, Adults). The report further presents analysis based on Product (Digital Thermometers, Infrared Radiation, Thermometers Others). Futher, it is segmented based on Area of Administration (Ear, Forehead, Oral, Anal, Ambient, Others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments.
Purpose of the ReportThe report Medical Thermometer 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 Thermometer Market Segmentation
Age- Pediatrics
- Adults
- Digital Thermometers
- Infrared Radiation
- Thermometers Others
- Ear
- Forehead
- Oral
- Anal
- Ambient
- Others
Strategic Insights
Medical Thermometer Market Growth Drivers- Increased Prevalence of Infectious Diseases: The increasing incidence of infectious diseases and health emergencies requires sound temperature monitoring devices and thereby leads to investment in more advanced thermometer solutions from healthcare facilities.
- Technological Innovation: Continued innovation in digital and infrared thermometer technology increases the accuracy, speed, and user-friendliness of devices, creating consumer demand and ultimately leading to more and more adoption among healthcare professionals and home users.
- Rising Health Awareness: Growing health awareness is driving demand for medical thermometers, where people are increasingly concerned about health check-up and early detection of diseases. This affects the households in particular more.
- Sustainability Focus: Increasing environmental awareness fosters a sense of awareness among manufacturers toward the development of environmentally friendly thermometers that use sustainable raw materials, appealing to consumers with high respect for the environment and reducing carbon footprints.
- Wearable Temperature Sensors: Wearable technology is new, with continuous monitoring of body temperature, creating convenience and real-time data insights for health-conscious consumers, promoting preventive care.
- Smart Thermometers: The addition of smart technology, such as Bluetooth connectivity and application compatibility, enables tracking of real-time data and health monitoring at the fingertips, making a thermometer more interactive and user-friendly.
- Expanding the Scope of New Markets: Increasing investments in healthcare and more awareness on the part of the people, especially in developing regions, pose as an opportunity for manufacturers to expand their market penetration of medical thermometers.
- Home Healthcare: This increasing trend toward home-based healthcare solutions provides opportunities for companies to develop user-friendly, accurate thermometers intended for home use, suitable for a growing number of health-conscious consumers.
- Partnerships with Tech Firms: A collaboration with high-tech firms may create devices for innovative thermometers that improve products in both IoT and analytics, which can enhance markets.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medical Thermometer 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 Thermometer Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The major factors driving the medical thermometer market are:
1. Increased Prevalence of Infectious Diseases.
2. Rising Health Awareness.
The medical thermometer market is expected to grow at a CAGR of 9.3%.
North America region accounts for highest revenue share in medical thermometer market.
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%).
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023 - 2031).
3M, Medline Industries, and Welch Allyn are the major companies operating in the medical thermometer market.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medical Thermometer Market - By Age
1.3.2 Medical Thermometer Market - By Product
1.3.3 Medical Thermometer Market - By Area of Administration
1.3.4 Medical Thermometer Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL THERMOMETER 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 THERMOMETER 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 THERMOMETER MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL THERMOMETER - GLOBAL MARKET OVERVIEW
6.2. MEDICAL THERMOMETER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MEDICAL THERMOMETER MARKET - REVENUE AND FORECASTS TO 2028 - AGE
7.1. OVERVIEW
7.2. AGE MARKET FORECASTS AND ANALYSIS
7.3. PEDIATRICS
7.3.1. Overview
7.3.2. Pediatrics Market Forecast and Analysis
7.4. ADULTS
7.4.1. Overview
7.4.2. Adults Market Forecast and Analysis
8. MEDICAL THERMOMETER MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. DIGITAL THERMOMETERS
8.3.1. Overview
8.3.2. Digital Thermometers Market Forecast and Analysis
8.4. INFRARED RADIATION
8.4.1. Overview
8.4.2. Infrared Radiation Market Forecast and Analysis
8.5. THERMOMETERS OTHERS
8.5.1. Overview
8.5.2. Thermometers Others Market Forecast and Analysis
9. MEDICAL THERMOMETER MARKET - REVENUE AND FORECASTS TO 2028 - AREA OF ADMINISTRATION
9.1. OVERVIEW
9.2. AREA OF ADMINISTRATION MARKET FORECASTS AND ANALYSIS
9.3. EAR
9.3.1. Overview
9.3.2. Ear Market Forecast and Analysis
9.4. FOREHEAD
9.4.1. Overview
9.4.2. Forehead Market Forecast and Analysis
9.5. ORAL
9.5.1. Overview
9.5.2. Oral Market Forecast and Analysis
9.6. ANAL
9.6.1. Overview
9.6.2. Anal Market Forecast and Analysis
9.7. AMBIENT
9.7.1. Overview
9.7.2. Ambient Market Forecast and Analysis
9.8. OTHERS
9.8.1. Overview
9.8.2. Others Market Forecast and Analysis
10. MEDICAL THERMOMETER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medical Thermometer Market Overview
10.1.2 North America Medical Thermometer Market Forecasts and Analysis
10.1.3 North America Medical Thermometer Market Forecasts and Analysis - By Age
10.1.4 North America Medical Thermometer Market Forecasts and Analysis - By Product
10.1.5 North America Medical Thermometer Market Forecasts and Analysis - By Area of Administration
10.1.6 North America Medical Thermometer Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medical Thermometer Market
10.1.6.1.1 United States Medical Thermometer Market by Age
10.1.6.1.2 United States Medical Thermometer Market by Product
10.1.6.1.3 United States Medical Thermometer Market by Area of Administration
10.1.6.2 Canada Medical Thermometer Market
10.1.6.2.1 Canada Medical Thermometer Market by Age
10.1.6.2.2 Canada Medical Thermometer Market by Product
10.1.6.2.3 Canada Medical Thermometer Market by Area of Administration
10.1.6.3 Mexico Medical Thermometer Market
10.1.6.3.1 Mexico Medical Thermometer Market by Age
10.1.6.3.2 Mexico Medical Thermometer Market by Product
10.1.6.3.3 Mexico Medical Thermometer Market by Area of Administration
10.2. EUROPE
10.2.1 Europe Medical Thermometer Market Overview
10.2.2 Europe Medical Thermometer Market Forecasts and Analysis
10.2.3 Europe Medical Thermometer Market Forecasts and Analysis - By Age
10.2.4 Europe Medical Thermometer Market Forecasts and Analysis - By Product
10.2.5 Europe Medical Thermometer Market Forecasts and Analysis - By Area of Administration
10.2.6 Europe Medical Thermometer Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medical Thermometer Market
10.2.6.1.1 Germany Medical Thermometer Market by Age
10.2.6.1.2 Germany Medical Thermometer Market by Product
10.2.6.1.3 Germany Medical Thermometer Market by Area of Administration
10.2.6.2 France Medical Thermometer Market
10.2.6.2.1 France Medical Thermometer Market by Age
10.2.6.2.2 France Medical Thermometer Market by Product
10.2.6.2.3 France Medical Thermometer Market by Area of Administration
10.2.6.3 Italy Medical Thermometer Market
10.2.6.3.1 Italy Medical Thermometer Market by Age
10.2.6.3.2 Italy Medical Thermometer Market by Product
10.2.6.3.3 Italy Medical Thermometer Market by Area of Administration
10.2.6.4 Spain Medical Thermometer Market
10.2.6.4.1 Spain Medical Thermometer Market by Age
10.2.6.4.2 Spain Medical Thermometer Market by Product
10.2.6.4.3 Spain Medical Thermometer Market by Area of Administration
10.2.6.5 United Kingdom Medical Thermometer Market
10.2.6.5.1 United Kingdom Medical Thermometer Market by Age
10.2.6.5.2 United Kingdom Medical Thermometer Market by Product
10.2.6.5.3 United Kingdom Medical Thermometer Market by Area of Administration
10.2.6.6 Egypt Medical Thermometer Market
10.2.6.6.1 Egypt Medical Thermometer Market by Age
10.2.6.6.2 Egypt Medical Thermometer Market by Product
10.2.6.6.3 Egypt Medical Thermometer Market by Area of Administration
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medical Thermometer Market Overview
10.3.2 Asia-Pacific Medical Thermometer Market Forecasts and Analysis
10.3.3 Asia-Pacific Medical Thermometer Market Forecasts and Analysis - By Age
10.3.4 Asia-Pacific Medical Thermometer Market Forecasts and Analysis - By Product
10.3.5 Asia-Pacific Medical Thermometer Market Forecasts and Analysis - By Area of Administration
10.3.6 Asia-Pacific Medical Thermometer Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medical Thermometer Market
10.3.6.1.1 Australia Medical Thermometer Market by Age
10.3.6.1.2 Australia Medical Thermometer Market by Product
10.3.6.1.3 Australia Medical Thermometer Market by Area of Administration
10.3.6.2 China Medical Thermometer Market
10.3.6.2.1 China Medical Thermometer Market by Age
10.3.6.2.2 China Medical Thermometer Market by Product
10.3.6.2.3 China Medical Thermometer Market by Area of Administration
10.3.6.3 India Medical Thermometer Market
10.3.6.3.1 India Medical Thermometer Market by Age
10.3.6.3.2 India Medical Thermometer Market by Product
10.3.6.3.3 India Medical Thermometer Market by Area of Administration
10.3.6.4 Japan Medical Thermometer Market
10.3.6.4.1 Japan Medical Thermometer Market by Age
10.3.6.4.2 Japan Medical Thermometer Market by Product
10.3.6.4.3 Japan Medical Thermometer Market by Area of Administration
10.3.6.5 South Korea Medical Thermometer Market
10.3.6.5.1 South Korea Medical Thermometer Market by Age
10.3.6.5.2 South Korea Medical Thermometer Market by Product
10.3.6.5.3 South Korea Medical Thermometer Market by Area of Administration
10.3.6.6 Rest of Asia-Pacific Medical Thermometer Market
10.3.6.6.1 Rest of Asia-Pacific Medical Thermometer Market by Age
10.3.6.6.2 Rest of Asia-Pacific Medical Thermometer Market by Product
10.3.6.6.3 Rest of Asia-Pacific Medical Thermometer Market by Area of Administration
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medical Thermometer Market Overview
10.4.2 Middle East and Africa Medical Thermometer Market Forecasts and Analysis
10.4.3 Middle East and Africa Medical Thermometer Market Forecasts and Analysis - By Age
10.4.4 Middle East and Africa Medical Thermometer Market Forecasts and Analysis - By Product
10.4.5 Middle East and Africa Medical Thermometer Market Forecasts and Analysis - By Area of Administration
10.4.6 Middle East and Africa Medical Thermometer Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medical Thermometer Market
10.4.6.1.1 South Africa Medical Thermometer Market by Age
10.4.6.1.2 South Africa Medical Thermometer Market by Product
10.4.6.1.3 South Africa Medical Thermometer Market by Area of Administration
10.4.6.2 Saudi Arabia Medical Thermometer Market
10.4.6.2.1 Saudi Arabia Medical Thermometer Market by Age
10.4.6.2.2 Saudi Arabia Medical Thermometer Market by Product
10.4.6.2.3 Saudi Arabia Medical Thermometer Market by Area of Administration
10.4.6.3 U.A.E Medical Thermometer Market
10.4.6.3.1 U.A.E Medical Thermometer Market by Age
10.4.6.3.2 U.A.E Medical Thermometer Market by Product
10.4.6.3.3 U.A.E Medical Thermometer Market by Area of Administration
10.4.6.4 Rest of Middle East and Africa Medical Thermometer Market
10.4.6.4.1 Rest of Middle East and Africa Medical Thermometer Market by Age
10.4.6.4.2 Rest of Middle East and Africa Medical Thermometer Market by Product
10.4.6.4.3 Rest of Middle East and Africa Medical Thermometer Market by Area of Administration
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medical Thermometer Market Overview
10.5.2 South and Central America Medical Thermometer Market Forecasts and Analysis
10.5.3 South and Central America Medical Thermometer Market Forecasts and Analysis - By Age
10.5.4 South and Central America Medical Thermometer Market Forecasts and Analysis - By Product
10.5.5 South and Central America Medical Thermometer Market Forecasts and Analysis - By Area of Administration
10.5.6 South and Central America Medical Thermometer Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medical Thermometer Market
10.5.6.1.1 Brazil Medical Thermometer Market by Age
10.5.6.1.2 Brazil Medical Thermometer Market by Product
10.5.6.1.3 Brazil Medical Thermometer Market by Area of Administration
10.5.6.2 Argentina Medical Thermometer Market
10.5.6.2.1 Argentina Medical Thermometer Market by Age
10.5.6.2.2 Argentina Medical Thermometer Market by Product
10.5.6.2.3 Argentina Medical Thermometer Market by Area of Administration
10.5.6.3 Rest of South and Central America Medical Thermometer Market
10.5.6.3.1 Rest of South and Central America Medical Thermometer Market by Age
10.5.6.3.2 Rest of South and Central America Medical Thermometer Market by Product
10.5.6.3.3 Rest of South and Central America Medical Thermometer Market by Area of Administration
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 THERMOMETER MARKET, KEY COMPANY PROFILES
12.1. 3M
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. MEDLINE INDUSTRIES
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. WELCH ALLYN
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. AMERICA DIAGNOSTICS CORPORATION
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. A AND D 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. AMERICA DIAGNOSTICS CORPORATION
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. EASYWELL BIOMEDICALS, INC.
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. CARDINAL HEALTH
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. COMPUMEDICS LTD.
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. TERUMO 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
12.11. MCKESSON CORPORATION
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
12.12. MEDICAL INDICATORS INC.
12.12.1. Key Facts
12.12.2. Business Description
12.12.3. Products and Services
12.12.4. Financial Overview
12.12.5. SWOT Analysis
12.12.6. Key Developments
12.13. MEDIAID, INC.
12.13.1. Key Facts
12.13.2. Business Description
12.13.3. Products and Services
12.13.4. Financial Overview
12.13.5. SWOT Analysis
12.13.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1.3M
2.Medline Industries
3.Welch Allyn
4.America Diagnostics Corporation
5.A and D Medical
6.America Diagnostics Corporation
7.Easywell Biomedicals, Inc.
8.Cardinal Health
9.Compumedics Ltd.
10.Terumo Corporation
11.McKesson Corporation
12.Medical Indicators Inc.
13.Mediaid, 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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