Neonatal ICU Equipment Market Growth, Top Key Players, and Regional Forecast by 2031

Coverage: Neonatal ICU Equipment Market covers analysis by Equipment Type (Thermoregulation Equipment, Phototherapy Equipment, Monitoring Equipment, Respiratory Equipment, Others); End User (Hospitals, Ambulatory Surgical Centers, Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00013473
  • Category : Life Sciences
  • No. of Pages : 150
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Neonatal ICU Equipment Market Report - (Growth 2031)

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The Neonatal ICU Equipment Market is expected to register a CAGR of 8.2% 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 Equipment Type (Thermoregulation Equipment, Phototherapy Equipment, Monitoring Equipment, Respiratory Equipment, Others); End User (Hospitals, Ambulatory Surgical Centers, 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 Report

The report Neonatal ICU Equipment 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.

Neonatal ICU Equipment Market Segmentation

Equipment Type
  • Thermoregulation Equipment
  • Phototherapy Equipment
  • Monitoring Equipment
  • Respiratory Equipment
  • Others
End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Others

Strategic Insights

Neonatal ICU Equipment Market Growth Drivers
  • Rising Prevalence of Preterm Births: One of the primary growth drivers for neonatal ICU equipment has been the continually increasing prevalence of preterm births worldwide. Improvements in maternal care have led to better survival rates for preterm infants, and hence a demand for special equipment that would be required for proper care, thus underlining the need for advanced neonatal monitoring and support systems.
  • Medical Device Technologies: Due to ongoing technological advancement in neonatal ICU devices, the market is growing. The upgraded incubators and advanced monitoring systems have further improved the care level provided by neonatal ICU to highly critical neonates, while non-invasive respiratory support technologies have emerged as alternatives for invasive ventilation. Thus, high quality-demand neonatal equipment is likely to be increased in the forecasting period, with an increased number of medical care facilities adapting to such technologically advanced solutions.
  • Government initiatives and funding: Supportive government initiatives and increased funding for neonatal care are great drivers in the market. Most of the countries invest in healthcare infrastructure to improve neonatal outcomes, thus procuring advanced ICU equipment. Such initiatives not only advance care provision for newborns but will also create significant opportunities for manufacturers to supply innovative products tailored to meet regulatory and healthcare standards.
Neonatal ICU Equipment Market Future Trends
  • Adoption of Telemedicine Solutions: The trend that changes the NICU market is adoption of telemedicine solutions. Since a real-time health status update on infants can be monitored, decisions can be much clearer with timely interventions. It not only advances outcomes but also provides specialist access to underserved regions for which neonatal equipment and systems need to meet standards.
  • Focus on Non-Invasive Technologies: The direction is getting more toward non-invasive technologies; neonatal ICUs have paved the way to relatively increased usage of non-invasive monitoring technologies. Devices such as pulse oximeters and non-invasive ventilation systems are increasing with utmost care in terms of minimal stress on frail infants and maximum accuracy in healthy data delivery. This, in return, is influencing manufacturers to innovate and deliver more non-invasive solutions for neonatal care.
  • Emphasis on Ergonomics and User-Friendly Designs: Ergonomics and user-friendly designs have also gained prominence in neonatal ICU equipment. The marketplace is gradually focusing more on such equipment which makes it relatively easier for healthcare professionals to use. The design of equipment minimizing errors at critical care time. Thus, this trend will carry on towards designing apparatus that is efficient enough to make caregivers perform well and yet builds safety for patients. This drives innovation in product development.
Neonatal ICU Equipment Market Opportunities
  • Integration of Telemedicine: There is a growing trend called telemedicine wherein devices will be designed such that neonatal ICU equipment can be monitored and consultation carried out remotely. Advanced telecommunication technologies can be integrated into this design so as to enable the hospital to send real-time information to the specialist for immediate intervention and support. This does not merely enhance care provision but also extends the availability of expert resources in areas where they would otherwise be underserved.
  • Wearable Technology: With the growing uptakes of wearable technology in healthcare, neonatal ICUs can now add smart monitoring devices to track infant vital signs, oxygen levels, among other critical health status measures without interrupting the infant. Use of these new wearables will not only lead to higher accuracy in patient monitoring but also increase comfort. Good results and lessened stress for patients and their families are achieved through such means.
  • Sustainable Equipment Solutions: The environmental concerns escalate, thereby paving an avenue for equipment manufacturing companies to develop neonatal ICU equipment that can be considered sustainable. Here, the company should look in the direction of using materials and designs related to saving a lot of energy during the product's manufacturing and usage processes. Such equipment would be able to meet world standards with regard to sustainability goals but would also appeal to other eco-conscious consumers who wish to enjoy more of the same, giving it an edge in the marketplace.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Neonatal ICU Equipment 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 Neonatal ICU Equipment Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

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to segments covered.

Regional Scope
Regional Scope

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

Country Scope
Country Scope

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to country scope.

Frequently Asked Questions


Which are some of the major players operating in the market?

CARDINAL HEALTH, DR GERWERK AG AND CO KGAA, GENERAL ELECTRIC COMPANY, BAXTER, KONINKLIJKE PHILIPS N V, MEDTRONIC, accounting for higesh market shares and are some of the major players operating in the market

Which segment accounts for highest revenue in product the Neonatal ICU Equipment Market in 2023?

The monitoring equipment segment accounts for highest revenue in equipment type the Neonatal ICU Equipment Market marekt in 2023

Which region higesh CAGR the Neonatal ICU Equipment Market in 2023?

Asia Pacific region dominated the Neonatal ICU Equipment Market in 2023

What is the expected CAGR of the Neonatal ICU Equipment Market?

The Neonatal ICU Equipment Market is estimated to witness a CAGR of 8.2% from 2023 to 2031

What are the driving factors impacting the Neonatal ICU Equipment Market ?

The major factors driving the Neonatal ICU Equipment Market are:

1. Rising Prevalence of Preterm Births

2. Medical Device Technologies

3. Government initiatives and funding

Which region dominated the Neonatal ICU Equipment Market in 2023?

North America region dominated the Neonatal ICU Equipment Market in 2023

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Neonatal ICU Equipment Market - By Equipment Type
1.3.2 Neonatal ICU Equipment Market - By End User
1.3.3 Neonatal ICU Equipment Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. NEONATAL ICU EQUIPMENT 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. NEONATAL ICU EQUIPMENT 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. NEONATAL ICU EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. NEONATAL ICU EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. NEONATAL ICU EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. NEONATAL ICU EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - EQUIPMENT TYPE
7.1. OVERVIEW
7.2. EQUIPMENT TYPE MARKET FORECASTS AND ANALYSIS
7.3. THERMOREGULATION EQUIPMENT
7.3.1. Overview
7.3.2. Thermoregulation Equipment Market Forecast and Analysis
7.4. PHOTOTHERAPY EQUIPMENT
7.4.1. Overview
7.4.2. Phototherapy Equipment Market Forecast and Analysis
7.5. MONITORING EQUIPMENT
7.5.1. Overview
7.5.2. Monitoring Equipment Market Forecast and Analysis
7.6. RESPIRATORY EQUIPMENT
7.6.1. Overview
7.6.2. Respiratory Equipment Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. NEONATAL ICU EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS
8.3.1. Overview
8.3.2. Hospitals Market Forecast and Analysis
8.4. AMBULATORY SURGICAL CENTERS
8.4.1. Overview
8.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. NEONATAL ICU EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Neonatal ICU Equipment Market Overview
9.1.2 North America Neonatal ICU Equipment Market Forecasts and Analysis
9.1.3 North America Neonatal ICU Equipment Market Forecasts and Analysis - By Equipment Type
9.1.4 North America Neonatal ICU Equipment Market Forecasts and Analysis - By End User
9.1.5 North America Neonatal ICU Equipment Market Forecasts and Analysis - By Countries
9.1.5.1 United States Neonatal ICU Equipment Market
9.1.5.1.1 United States Neonatal ICU Equipment Market by Equipment Type
9.1.5.1.2 United States Neonatal ICU Equipment Market by End User
9.1.5.2 Canada Neonatal ICU Equipment Market
9.1.5.2.1 Canada Neonatal ICU Equipment Market by Equipment Type
9.1.5.2.2 Canada Neonatal ICU Equipment Market by End User
9.1.5.3 Mexico Neonatal ICU Equipment Market
9.1.5.3.1 Mexico Neonatal ICU Equipment Market by Equipment Type
9.1.5.3.2 Mexico Neonatal ICU Equipment Market by End User
9.2. EUROPE
9.2.1 Europe Neonatal ICU Equipment Market Overview
9.2.2 Europe Neonatal ICU Equipment Market Forecasts and Analysis
9.2.3 Europe Neonatal ICU Equipment Market Forecasts and Analysis - By Equipment Type
9.2.4 Europe Neonatal ICU Equipment Market Forecasts and Analysis - By End User
9.2.5 Europe Neonatal ICU Equipment Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Neonatal ICU Equipment Market
9.2.5.1.1 Germany Neonatal ICU Equipment Market by Equipment Type
9.2.5.1.2 Germany Neonatal ICU Equipment Market by End User
9.2.5.2 France Neonatal ICU Equipment Market
9.2.5.2.1 France Neonatal ICU Equipment Market by Equipment Type
9.2.5.2.2 France Neonatal ICU Equipment Market by End User
9.2.5.3 Italy Neonatal ICU Equipment Market
9.2.5.3.1 Italy Neonatal ICU Equipment Market by Equipment Type
9.2.5.3.2 Italy Neonatal ICU Equipment Market by End User
9.2.5.4 Spain Neonatal ICU Equipment Market
9.2.5.4.1 Spain Neonatal ICU Equipment Market by Equipment Type
9.2.5.4.2 Spain Neonatal ICU Equipment Market by End User
9.2.5.5 United Kingdom Neonatal ICU Equipment Market
9.2.5.5.1 United Kingdom Neonatal ICU Equipment Market by Equipment Type
9.2.5.5.2 United Kingdom Neonatal ICU Equipment Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Neonatal ICU Equipment Market Overview
9.3.2 Asia-Pacific Neonatal ICU Equipment Market Forecasts and Analysis
9.3.3 Asia-Pacific Neonatal ICU Equipment Market Forecasts and Analysis - By Equipment Type
9.3.4 Asia-Pacific Neonatal ICU Equipment Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Neonatal ICU Equipment Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Neonatal ICU Equipment Market
9.3.5.1.1 Australia Neonatal ICU Equipment Market by Equipment Type
9.3.5.1.2 Australia Neonatal ICU Equipment Market by End User
9.3.5.2 China Neonatal ICU Equipment Market
9.3.5.2.1 China Neonatal ICU Equipment Market by Equipment Type
9.3.5.2.2 China Neonatal ICU Equipment Market by End User
9.3.5.3 India Neonatal ICU Equipment Market
9.3.5.3.1 India Neonatal ICU Equipment Market by Equipment Type
9.3.5.3.2 India Neonatal ICU Equipment Market by End User
9.3.5.4 Japan Neonatal ICU Equipment Market
9.3.5.4.1 Japan Neonatal ICU Equipment Market by Equipment Type
9.3.5.4.2 Japan Neonatal ICU Equipment Market by End User
9.3.5.5 South Korea Neonatal ICU Equipment Market
9.3.5.5.1 South Korea Neonatal ICU Equipment Market by Equipment Type
9.3.5.5.2 South Korea Neonatal ICU Equipment Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Neonatal ICU Equipment Market Overview
9.4.2 Middle East and Africa Neonatal ICU Equipment Market Forecasts and Analysis
9.4.3 Middle East and Africa Neonatal ICU Equipment Market Forecasts and Analysis - By Equipment Type
9.4.4 Middle East and Africa Neonatal ICU Equipment Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Neonatal ICU Equipment Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Neonatal ICU Equipment Market
9.4.5.1.1 South Africa Neonatal ICU Equipment Market by Equipment Type
9.4.5.1.2 South Africa Neonatal ICU Equipment Market by End User
9.4.5.2 Saudi Arabia Neonatal ICU Equipment Market
9.4.5.2.1 Saudi Arabia Neonatal ICU Equipment Market by Equipment Type
9.4.5.2.2 Saudi Arabia Neonatal ICU Equipment Market by End User
9.4.5.3 U.A.E Neonatal ICU Equipment Market
9.4.5.3.1 U.A.E Neonatal ICU Equipment Market by Equipment Type
9.4.5.3.2 U.A.E Neonatal ICU Equipment Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Neonatal ICU Equipment Market Overview
9.5.2 South and Central America Neonatal ICU Equipment Market Forecasts and Analysis
9.5.3 South and Central America Neonatal ICU Equipment Market Forecasts and Analysis - By Equipment Type
9.5.4 South and Central America Neonatal ICU Equipment Market Forecasts and Analysis - By End User
9.5.5 South and Central America Neonatal ICU Equipment Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Neonatal ICU Equipment Market
9.5.5.1.1 Brazil Neonatal ICU Equipment Market by Equipment Type
9.5.5.1.2 Brazil Neonatal ICU Equipment Market by End User
9.5.5.2 Argentina Neonatal ICU Equipment Market
9.5.5.2.1 Argentina Neonatal ICU Equipment Market by Equipment Type
9.5.5.2.2 Argentina Neonatal ICU Equipment Market by End User
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL NEONATAL ICU EQUIPMENT MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Rest of the World
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. NEONATAL ICU EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. CARDINAL HEALTH
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. DRäGERWERK AG AND CO. KGAA
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. GENERAL ELECTRIC COMPANY
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. BAXTER
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. KONINKLIJKE PHILIPS N.V.
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. MEDTRONIC
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. GETINGE
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. MINDRAY
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. BD
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. UTAH MEDICAL PRODUCTS, INC
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies

1. CARDINAL HEALTH
2. DRäGERWERK AG AND CO. KGAA
3. GENERAL ELECTRIC COMPANY
4. BAXTER
5. KONINKLIJKE PHILIPS N.V.
6. MEDTRONIC
7. GETINGE
8. MINDRAY
9. BD
10. UTAH MEDICAL PRODUCTS, INC

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

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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