Nerve Monitoring Devices Market Scope 2031
The Nerve Monitoring Devices Market is expected to register a CAGR of 5.2% 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 Product (Monitors, Electrodes, Ancillary Products); Technology (Electroencephalogram, Electrocorticography, Transcranial Electrical Motor Evoked Potential, Brainstem Evoked Potential, Visual Evoked Potential, Somatosensory Evoked Potential). 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 Nerve Monitoring Devices 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.
Nerve Monitoring Devices Market Segmentation
Product- Monitors
- Electrodes
- Ancillary Products
- Electroencephalogram
- Electrocorticography
- Transcranial Electrical Motor Evoked Potential
- Brainstem Evoked Potential
- Visual Evoked Potential
- Somatosensory Evoked Potential
Strategic Insights
Nerve Monitoring Devices Market Growth Drivers- Increasing Surgical Procedures: The increased number of surgical operations, more so those performed on sensitive areas of the body such as the brain, spine, and nerves has led to an increase in the application of nerve monitoring devices. These devices are intended to prevent severing nerves so that the surgeon is given an alert during the operation to act and save the nerves thus causing less injury to the patient. The growing complexity of surgeries requires precise monitoring of nerves which in turn support the market.
- Advancements in Medical Technology: Development in medical technology such as better designs of electrodes and effective processing of signals is increasing in the efficiency and precision of nerve monitoring devices. With such new technology, detecting any nerve activity during the procedure becomes more effective and thus minimizes the risks and improves the chances of getting the desired outcome from the procedure. This is another factor that is pushing the market.
- Rising Awareness of Nerve Damage Risks: More and more people both health workers and patients have come to realize that surgery poses significant threats of nerve damage. In their quest for safe surgical procedures, people now appreciate devices for monitoring nerve activity during surgery. It enables the surgeon to foresee possible nerve damage and reduce any ill effects thus enhancing patient safety which in turn is a factor for driving the market growth.
- Miniaturization of Devices: One of the major trends is the miniaturization of devices in the nerve monitoring devices market. Smaller nerve monitoring systems are more flexible during surgeries, especially in minimally invasive surgery, because they are compact and take up lesser space which allows the patient to be moved. This trend also allows the surgeons to incorporate the advanced monitoring technology in many more procedures thus increasing the adoption of the devices in medical practice.
- Integration with Surgical Robotics: Nerve monitoring instruments have been more incorporated into surgical robots systems improving accuracy in the processes. The risk of damaging the nerve is reduced when the surgeon performs an operation while seated, a real-time nerve monitoring system and a robotic system are employed. This market trend is easily noticeable in orthopaedic surgery, spine surgeries and neurosurgery, hence contributing to the demand of better monitoring systems.
- Rise of Wireless Monitoring Systems: The wireless nerve monitoring systems market is gaining momentum with market growth. Wireless provides more comfort as it permits free movement, shorter time to arrange for the equipment, and the discomfort caused by wires is not experienced which enhances the quality of surgery. There is lesser distraction from the operating environment in that there are no cords which are a hassle to the doctor, hence wireless nerve monitoring systems are being embraced in the surgical theaters.
- Expansion in Emerging Markets: With the enhancing of healthcare infrastructure in the emerging markets, there is notable expansion of opportunity for the nerve monitoring devices. Access to better medical technologies is already on the rise with more and more surgical procedures emerging and therefore the manufacturers can also reach these regions by providing low cost well developed nerve monitoring devices. Hence, this will aid the growth of the market in those regions which remains largely untapped.
- Increased Adoption of Minimally Invasive Surgeries: One of the key trends that draw major opportunity for nerve monitoring devices is the growing inclination towards the minimally invasive surgeries. Since, such procedures are completed with the aid of real time monitoring to avert any forms of distress to the nerve, advanced nerve monitoring devices will also be needed. The market is depicting growth as a result of the trends on the shifting from invasive to less invasive approaches by promoting the incorporation of a high-precision and reliable monitoring systems intraoperative.
- Development of Personalized Monitoring Solutions: It is becoming clear that, there is a window for the realization and creation of individual nerve monitoring solutions that meet specific patient’s demands. Nerve monitoring market could reshape thanks to devices that can change over the course of a procedure depending on the anatomy and provide detailed information about the soundness of nerves. By AI and machine learning to the picture, manufacturers would be able to develop nerve monitoring systems to suit the needs of individual patients for the best surgical outcomes and safety.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Nerve Monitoring Devices 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 Nerve Monitoring Devices 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
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
The market is expected to grow at a CAGR of 5.2%
Increasing surgical procedures and advancements in medical technology are the major factors boosting the nerver monitoring devices market growth
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 year (2023 - 2031)
The North America region accounts for highest revenue share nerver monitoring devices market
Medtronic Plc., EMS Biomedical, Inomed, Onatus Medical Inc., Langer Medical GmbH, Oneurosign Surgical, Oneurowave Systems, OnuVasive, Inc., ,Cadwell Laboratories, Compumedics Limited are the some of the key market players operating in the nerver monitoring devices market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Nerve Monitoring Devices Market - By Product
1.3.2 Nerve Monitoring Devices Market - By Technology
1.3.3 Nerve Monitoring Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. NERVE MONITORING DEVICES 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. NERVE MONITORING DEVICES 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. NERVE MONITORING DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. NERVE MONITORING DEVICES - GLOBAL MARKET OVERVIEW
6.2. NERVE MONITORING DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. NERVE MONITORING DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. MONITORS
7.3.1. Overview
7.3.2. Monitors Market Forecast and Analysis
7.4. ELECTRODES
7.4.1. Overview
7.4.2. Electrodes Market Forecast and Analysis
7.5. ANCILLARY PRODUCTS
7.5.1. Overview
7.5.2. Ancillary Products Market Forecast and Analysis
8. NERVE MONITORING DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. ELECTROENCEPHALOGRAM
8.3.1. Overview
8.3.2. Electroencephalogram Market Forecast and Analysis
8.4. ELECTROCORTICOGRAPHY
8.4.1. Overview
8.4.2. Electrocorticography Market Forecast and Analysis
8.5. TRANSCRANIAL ELECTRICAL MOTOR EVOKED POTENTIAL
8.5.1. Overview
8.5.2. Transcranial Electrical Motor Evoked Potential Market Forecast and Analysis
8.6. BRAINSTEM EVOKED POTENTIAL
8.6.1. Overview
8.6.2. Brainstem Evoked Potential Market Forecast and Analysis
8.7. VISUAL EVOKED POTENTIAL
8.7.1. Overview
8.7.2. Visual Evoked Potential Market Forecast and Analysis
8.8. SOMATOSENSORY EVOKED POTENTIAL
8.8.1. Overview
8.8.2. Somatosensory Evoked Potential Market Forecast and Analysis
9. NERVE MONITORING DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Nerve Monitoring Devices Market Overview
9.1.2 North America Nerve Monitoring Devices Market Forecasts and Analysis
9.1.3 North America Nerve Monitoring Devices Market Forecasts and Analysis - By Product
9.1.4 North America Nerve Monitoring Devices Market Forecasts and Analysis - By Technology
9.1.5 North America Nerve Monitoring Devices Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Nerve Monitoring Devices Market
9.1.5.1.1 Canada Nerve Monitoring Devices Market by Product
9.1.5.1.2 Canada Nerve Monitoring Devices Market by Technology
9.1.5.2 Mexico Nerve Monitoring Devices Market
9.1.5.2.1 Mexico Nerve Monitoring Devices Market by Product
9.1.5.2.2 Mexico Nerve Monitoring Devices Market by Technology
9.1.5.3 US Nerve Monitoring Devices Market
9.1.5.3.1 US Nerve Monitoring Devices Market by Product
9.1.5.3.2 US Nerve Monitoring Devices Market by Technology
9.2. EUROPE
9.2.1 Europe Nerve Monitoring Devices Market Overview
9.2.2 Europe Nerve Monitoring Devices Market Forecasts and Analysis
9.2.3 Europe Nerve Monitoring Devices Market Forecasts and Analysis - By Product
9.2.4 Europe Nerve Monitoring Devices Market Forecasts and Analysis - By Technology
9.2.5 Europe Nerve Monitoring Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Nerve Monitoring Devices Market
9.2.5.1.1 Germany Nerve Monitoring Devices Market by Product
9.2.5.1.2 Germany Nerve Monitoring Devices Market by Technology
9.2.5.2 France Nerve Monitoring Devices Market
9.2.5.2.1 France Nerve Monitoring Devices Market by Product
9.2.5.2.2 France Nerve Monitoring Devices Market by Technology
9.2.5.3 Italy Nerve Monitoring Devices Market
9.2.5.3.1 Italy Nerve Monitoring Devices Market by Product
9.2.5.3.2 Italy Nerve Monitoring Devices Market by Technology
9.2.5.4 Spain Nerve Monitoring Devices Market
9.2.5.4.1 Spain Nerve Monitoring Devices Market by Product
9.2.5.4.2 Spain Nerve Monitoring Devices Market by Technology
9.2.5.5 United Kingdom Nerve Monitoring Devices Market
9.2.5.5.1 United Kingdom Nerve Monitoring Devices Market by Product
9.2.5.5.2 United Kingdom Nerve Monitoring Devices Market by Technology
9.2.5.6 Rest of Europe Nerve Monitoring Devices Market
9.2.5.6.1 Rest of Europe Nerve Monitoring Devices Market by Product
9.2.5.6.2 Rest of Europe Nerve Monitoring Devices Market by Technology
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Nerve Monitoring Devices Market Overview
9.3.2 Asia-Pacific Nerve Monitoring Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Nerve Monitoring Devices Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Nerve Monitoring Devices Market Forecasts and Analysis - By Technology
9.3.5 Asia-Pacific Nerve Monitoring Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Nerve Monitoring Devices Market
9.3.5.1.1 Australia Nerve Monitoring Devices Market by Product
9.3.5.1.2 Australia Nerve Monitoring Devices Market by Technology
9.3.5.2 China Nerve Monitoring Devices Market
9.3.5.2.1 China Nerve Monitoring Devices Market by Product
9.3.5.2.2 China Nerve Monitoring Devices Market by Technology
9.3.5.3 India Nerve Monitoring Devices Market
9.3.5.3.1 India Nerve Monitoring Devices Market by Product
9.3.5.3.2 India Nerve Monitoring Devices Market by Technology
9.3.5.4 Japan Nerve Monitoring Devices Market
9.3.5.4.1 Japan Nerve Monitoring Devices Market by Product
9.3.5.4.2 Japan Nerve Monitoring Devices Market by Technology
9.3.5.5 South Korea Nerve Monitoring Devices Market
9.3.5.5.1 South Korea Nerve Monitoring Devices Market by Product
9.3.5.5.2 South Korea Nerve Monitoring Devices Market by Technology
9.3.5.6 Rest of Asia-Pacific Nerve Monitoring Devices Market
9.3.5.6.1 Rest of Asia-Pacific Nerve Monitoring Devices Market by Product
9.3.5.6.2 Rest of Asia-Pacific Nerve Monitoring Devices Market by Technology
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Nerve Monitoring Devices Market Overview
9.4.2 Middle East and Africa Nerve Monitoring Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Nerve Monitoring Devices Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Nerve Monitoring Devices Market Forecasts and Analysis - By Technology
9.4.5 Middle East and Africa Nerve Monitoring Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Nerve Monitoring Devices Market
9.4.5.1.1 South Africa Nerve Monitoring Devices Market by Product
9.4.5.1.2 South Africa Nerve Monitoring Devices Market by Technology
9.4.5.2 Saudi Arabia Nerve Monitoring Devices Market
9.4.5.2.1 Saudi Arabia Nerve Monitoring Devices Market by Product
9.4.5.2.2 Saudi Arabia Nerve Monitoring Devices Market by Technology
9.4.5.3 U.A.E Nerve Monitoring Devices Market
9.4.5.3.1 U.A.E Nerve Monitoring Devices Market by Product
9.4.5.3.2 U.A.E Nerve Monitoring Devices Market by Technology
9.4.5.4 Rest of Middle East and Africa Nerve Monitoring Devices Market
9.4.5.4.1 Rest of Middle East and Africa Nerve Monitoring Devices Market by Product
9.4.5.4.2 Rest of Middle East and Africa Nerve Monitoring Devices Market by Technology
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Nerve Monitoring Devices Market Overview
9.5.2 South and Central America Nerve Monitoring Devices Market Forecasts and Analysis
9.5.3 South and Central America Nerve Monitoring Devices Market Forecasts and Analysis - By Product
9.5.4 South and Central America Nerve Monitoring Devices Market Forecasts and Analysis - By Technology
9.5.5 South and Central America Nerve Monitoring Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Nerve Monitoring Devices Market
9.5.5.1.1 Brazil Nerve Monitoring Devices Market by Product
9.5.5.1.2 Brazil Nerve Monitoring Devices Market by Technology
9.5.5.2 Argentina Nerve Monitoring Devices Market
9.5.5.2.1 Argentina Nerve Monitoring Devices Market by Product
9.5.5.2.2 Argentina Nerve Monitoring Devices Market by Technology
9.5.5.3 Rest of South and Central America Nerve Monitoring Devices Market
9.5.5.3.1 Rest of South and Central America Nerve Monitoring Devices Market by Product
9.5.5.3.2 Rest of South and Central America Nerve Monitoring Devices Market by Technology
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. NERVE MONITORING DEVICES MARKET, KEY COMPANY PROFILES
11.1. MEDTRONIC PLC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. EMS BIOMEDICAL
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. INOMED
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. NATUS MEDICAL INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LANGER MEDICAL GMBH
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NEUROSIGN SURGICAL
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NEUROWAVE SYSTEMS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NUVASIVE, INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CADWELL LABORATORIES
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. COMPUMEDICS LIMITED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Medtronic Plc.
2. EMS Biomedical
3. Inomed
4. Natus Medical Inc.
5. Langer Medical GmbH
6. Neurosign Surgical
7. Neurowave Systems
8. NuVasive, Inc.
9. Cadwell Laboratories
10. Compumedics Limited
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.
Get Free Sample For