Neurofeedback Market Key Companies, Supply, Demand, and SWOT Analysis by 2031

Coverage: Neurofeedback Market covers analysis By Type (Slow Cortical Potential Neurofeedback(SCP-NF), Low-energy NeurofeedbackSystem (LENS), Hemoencephalographic (HEG) Neurofeedback, Other); Application (Attention Deficit Hyperactivity Disorder (ADHD), Pain Management, Insomnia, Anxiety Disorder, Other Diseases) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00022308
  • Category : Life Sciences
  • No. of Pages : 150
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Neurofeedback Market Trends and Forecast (2021-2031)

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The Neurofeedback Market is expected to register a CAGR of 10.9% 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 Type (Slow Cortical Potential Neurofeedback(SCP-NF), Low-energy NeurofeedbackSystem (LENS), Hemoencephalographic (HEG) Neurofeedback, Other). The report further presents analysis based on the Application (Attention Deficit Hyperactivity Disorder (ADHD), Pain Management, Insomnia, Anxiety Disorder, Other Diseases). 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 Neurofeedback 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.

Neurofeedback Market Segmentation

Type
  • Slow Cortical Potential Neurofeedback
Application
  • Attention Deficit Hyperactivity Disorder

Strategic Insights

Neurofeedback Market Growth Drivers
  • Increasing Cases of Mental Health Disorders: Mental health disorders are one of the most significant factors that drive the neurofeedback market. Anxiety, depression, and ADHS have reached epidemic proportions in global populations, mainly among the young. Neurofeedback is not invasive and drug-free, and this translates well to their non-conventional treatment methods, especially in handling mental health disorders. Its application in building cognitive mental well-being through functional improvement in brain activities makes it one of the high-performance drivers for neurofeedback therapies.
  • Adoption of Alternative Therapies: More and more people are aware of side effects of medication, hence the rise to alternative medicines with no pharmacological sides. Neurofeedback therapy has been widely applied as a holistic practice for anxiety, stress, and insomnia. Due to the fact that the risk is seen much lower in this form of therapy than in traditional treatments, patients and medical practitioners alike are turning to neurofeedback. These advancements-that is, the rapidly devolving technology-wellness trends and mindfulness practices, as well as the cost-effectiveness of neurofeedback devices, have opened avenues for mainstreaming neurofeedback.
  • Technological Advancements: The progress in technology, especially in devices associated with neurofeedback, has made neurofeedback systems available, more accurate, and more friendly to users. The modern neurofeedback devices are much smaller and cheaper, whereas they are much less accurate in comparison with older devices for the monitoring of brainwave states. The advent of wireless EEG has ushered in new market opportunities with the ability to conduct neurofeedback therapy at home. Further, with the inclusion of artificial intelligence (AI) and machine learning into neurofeedback systems, it has broadened their analyzing capacity and interpreting ability on brain data.
Neurofeedback Market Future Trends
  • More Evidence Co-Integrations with Other Therapeutic Modalities: Today, the neurofeedback market has indeed changed. The initial impression many people have of neurofeedback is of its union with other therapeutic modalities. There seems to be a growing number of clinicians and practitioners who are integrating neurofeedback with different therapies such as cognitive behavioral therapy (CBT), mindfulness training, or biofeedback, among many others, thus forming a synergistic approach in addressing the treatment issues of both physical and psychological features of disorders like post-traumatic stress disorder (PTSD), stress-related anxiety and arousal disorders, attention deficit hyperactivity disorder (ADHD), and chronic tension.
  • Expand into Consumer Wellness: Neurofeedback technology is more and more marketed directly to consumers, thus expanding beyond its clinical applications into the broader wellness market. At-home neurofeedback devices are increasingly offered by companies to self-monitor and improve the health of one's brain independently of a therapist or clinician. The requirements for self-care technologies that will enable individuals to take care of their mental health and even physical wellbeing or well-being have grown.
  • Sports and performance enhancement: Neurofeedback has gained considerable acceptance in athletics and has been used by athletes to enhance their performance, concentration and mental proficiency. Neurofeedback is fast becoming the way to go in sports with high-performance caliber, such as football and basketball, and lately, it has even reached into esports. Many different athletes and coaches have learned that this technique can help reduce stress as well as improve an athlete's cognitive functioning and serve as an additional benefit to that athlete.
Neurofeedback Market Opportunities
  • Corporate Wellness Programs: Another massive opportunity in these contexts is neurofeedback in corporate wellness programs, which is increasingly on the rise. Companies realize that mental health and well: being have a strong correlation with productivity, engagement, or overall performance. The modern day has found many corporate organizations investing in neurofeedback therapies aimed at the reduction of mental distress and improving cognitive performance in employees while reducing stress. This creates a new source of income for neurofeedback service providers: including clinics and device manufacturers.
  • Personalized Neurofeedback Solutions: There is an increasing demand for further developments in more person: specific neurofeedback solutions. This solution space based generally on neurofeedback treatment protocols dominates today; however, there is an increasing trend towards the development of solutions tailored to the specific brain patterns and mental health needs of an individual. AI, machine learning, and genetic data can then be integrated by clinicians to develop even more individualized neurofeedback plans, optimize treatment outcomes, and increase patient satisfaction.
  • Partnerships and Collaborations with Healthcare Providers: Health care providers have tremendous growth potential for the market. Neurofeedback device manufacturers can increase the profile and availability of their products by forming partnerships with hospitals, clinics, and mental health centers. Similarly, healthcare providers can offer innovative holistic treatment options to patients. Similarly, joint ventures with pharmaceutical firms and research entities are also likely to drive innovation in neurofeedback technology, create new treatment avenues, and push forward the growth of the market.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Neurofeedback 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 Neurofeedback 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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Frequently Asked Questions


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

Players operating in the market are Brainmaster Technologies, Inc, Bee Medic, Neurobit Systems, Neurocare Group Gmbh, Thought Technology Ltd, Mind Media, Wearable Sensing, Stens Corporation

Which segment accounts for highest revenue by type in 2023?

Slow Cortical Potential Neurofeedback(SCP-NF) segment, by type, dominated the market in 2023.

Which region dominated the Neurofeedback market in 2023?

North America region dominated the Neurofeedback market in 2023.

What are the factor that act as a opportunity for market growth?

Corporate Wellness Programs as a opportunity for growth of the market in forecast period.

What is the expected CAGR of the Neurofeedback Market?

The Neurofeedback Market is estimated to witness a CAGR of 10.9% from 202#to 2031

What are the driving factors impacting the Neurofeedback market?

The major factors driving the Neurofeedback market are:

1. Increasing Cases of Mental Health Disorders

2. Adoption of Alternative Therapies

TABLE OF CONTENTS

1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Neurofeedback Market - By Type
1.3.2Neurofeedback Market - By Application
1.3.3Neurofeedback Market - By Region
1.3.3.1By Country

2.KEY TAKEAWAYS

3.RESEARCH METHODOLOGY

4.NEUROFEEDBACK MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.EXPERT OPINIONS

5.NEUROFEEDBACK 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.NEUROFEEDBACK MARKET - GLOBAL MARKET ANALYSIS
6.1.NEUROFEEDBACK - GLOBAL MARKET OVERVIEW
6.2.NEUROFEEDBACK - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING

7.NEUROFEEDBACK MARKET - REVENUE AND FORECASTS TO 2028 â" TYPE
7.1.OVERVIEW
7.2.TYPE MARKET FORECASTS AND ANALYSIS
7.3.SLOW CORTICAL POTENTIAL NEUROFEEDBACK(SCP-NF)
7.3.1.Overview
7.3.2.Slow Cortical Potential Neurofeedback(SCP-NF) Market Forecast and Analysis
7.4.LOW-ENERGY NEUROFEEDBACKSYSTEM (LENS)
7.4.1.Overview
7.4.2.Low-energy NeurofeedbackSystem (LENS) Market Forecast and Analysis
7.5.HEMOENCEPHALOGRAPHIC (HEG) NEUROFEEDBACK
7.5.1.Overview
7.5.2.Hemoencephalographic (HEG) Neurofeedback Market Forecast and Analysis
7.6.OTHER
7.6.1.Overview
7.6.2.Other Market Forecast and Analysis
8.NEUROFEEDBACK MARKET - REVENUE AND FORECASTS TO 2028 â" APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.ATTENTION DEFICIT HYPERACTIVITY DISORDER (ADHD)
8.3.1.Overview
8.3.2.Attention Deficit Hyperactivity Disorder (ADHD) Market Forecast and Analysis
8.4.PAIN MANAGEMENT
8.4.1.Overview
8.4.2.Pain Management Market Forecast and Analysis
8.5.INSOMNIA
8.5.1.Overview
8.5.2.Insomnia Market Forecast and Analysis
8.6.ANXIETY DISORDER
8.6.1.Overview
8.6.2.Anxiety Disorder Market Forecast and Analysis
8.7.OTHER DISEASES
8.7.1.Overview
8.7.2.Other Diseases Market Forecast and Analysis

9.NEUROFEEDBACK MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Neurofeedback Market Overview
9.1.2North America Neurofeedback Market Forecasts and Analysis
9.1.3North America Neurofeedback Market Forecasts and Analysis - By Type
9.1.4North America Neurofeedback Market Forecasts and Analysis - By Application
9.1.5North America Neurofeedback Market Forecasts and Analysis - By Countries
9.1.5.1United States Neurofeedback Market
9.1.5.1.1United States Neurofeedback Market by Type
9.1.5.1.2United States Neurofeedback Market by Application
9.1.5.2Canada Neurofeedback Market
9.1.5.2.1Canada Neurofeedback Market by Type
9.1.5.2.2Canada Neurofeedback Market by Application
9.1.5.3Mexico Neurofeedback Market
9.1.5.3.1Mexico Neurofeedback Market by Type
9.1.5.3.2Mexico Neurofeedback Market by Application
9.2.EUROPE
9.2.1Europe Neurofeedback Market Overview
9.2.2Europe Neurofeedback Market Forecasts and Analysis
9.2.3Europe Neurofeedback Market Forecasts and Analysis - By Type
9.2.4Europe Neurofeedback Market Forecasts and Analysis - By Application
9.2.5Europe Neurofeedback Market Forecasts and Analysis - By Countries
9.2.5.1Germany Neurofeedback Market
9.2.5.1.1Germany Neurofeedback Market by Type
9.2.5.1.2Germany Neurofeedback Market by Application
9.2.5.2France Neurofeedback Market
9.2.5.2.1France Neurofeedback Market by Type
9.2.5.2.2France Neurofeedback Market by Application
9.2.5.3Italy Neurofeedback Market
9.2.5.3.1Italy Neurofeedback Market by Type
9.2.5.3.2Italy Neurofeedback Market by Application
9.2.5.4Spain Neurofeedback Market
9.2.5.4.1Spain Neurofeedback Market by Type
9.2.5.4.2Spain Neurofeedback Market by Application
9.2.5.5United Kingdom Neurofeedback Market
9.2.5.5.1United Kingdom Neurofeedback Market by Type
9.2.5.5.2United Kingdom Neurofeedback Market by Application
9.2.5.6Rest of Europe Neurofeedback Market
9.2.5.6.1Rest of Europe Neurofeedback Market by Type
9.2.5.6.2Rest of Europe Neurofeedback Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Neurofeedback Market Overview
9.3.2Asia-Pacific Neurofeedback Market Forecasts and Analysis
9.3.3Asia-Pacific Neurofeedback Market Forecasts and Analysis - By Type
9.3.4Asia-Pacific Neurofeedback Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Neurofeedback Market Forecasts and Analysis - By Countries
9.3.5.1Australia Neurofeedback Market
9.3.5.1.1Australia Neurofeedback Market by Type
9.3.5.1.2Australia Neurofeedback Market by Application
9.3.5.2China Neurofeedback Market
9.3.5.2.1China Neurofeedback Market by Type
9.3.5.2.2China Neurofeedback Market by Application
9.3.5.3India Neurofeedback Market
9.3.5.3.1India Neurofeedback Market by Type
9.3.5.3.2India Neurofeedback Market by Application
9.3.5.4Japan Neurofeedback Market
9.3.5.4.1Japan Neurofeedback Market by Type
9.3.5.4.2Japan Neurofeedback Market by Application
9.3.5.5South Korea Neurofeedback Market
9.3.5.5.1South Korea Neurofeedback Market by Type
9.3.5.5.2South Korea Neurofeedback Market by Application
9.3.5.6Rest of Asia-Pacific Neurofeedback Market
9.3.5.6.1Rest of Asia-Pacific Neurofeedback Market by Type
9.3.5.6.2Rest of Asia-Pacific Neurofeedback Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Neurofeedback Market Overview
9.4.2Middle East and Africa Neurofeedback Market Forecasts and Analysis
9.4.3Middle East and Africa Neurofeedback Market Forecasts and Analysis - By Type
9.4.4Middle East and Africa Neurofeedback Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Neurofeedback Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Neurofeedback Market
9.4.5.1.1South Africa Neurofeedback Market by Type
9.4.5.1.2South Africa Neurofeedback Market by Application
9.4.5.2Saudi Arabia Neurofeedback Market
9.4.5.2.1Saudi Arabia Neurofeedback Market by Type
9.4.5.2.2Saudi Arabia Neurofeedback Market by Application
9.4.5.3U.A.E Neurofeedback Market
9.4.5.3.1U.A.E Neurofeedback Market by Type
9.4.5.3.2U.A.E Neurofeedback Market by Application
9.4.5.4Rest of Middle East and Africa Neurofeedback Market
9.4.5.4.1Rest of Middle East and Africa Neurofeedback Market by Type
9.4.5.4.2Rest of Middle East and Africa Neurofeedback Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Neurofeedback Market Overview
9.5.2South and Central America Neurofeedback Market Forecasts and Analysis
9.5.3South and Central America Neurofeedback Market Forecasts and Analysis - By Type
9.5.4South and Central America Neurofeedback Market Forecasts and Analysis - By Application
9.5.5South and Central America Neurofeedback Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Neurofeedback Market
9.5.5.1.1Brazil Neurofeedback Market by Type
9.5.5.1.2Brazil Neurofeedback Market by Application
9.5.5.2Argentina Neurofeedback Market
9.5.5.2.1Argentina Neurofeedback Market by Type
9.5.5.2.2Argentina Neurofeedback Market by Application
9.5.5.3Rest of South and Central America Neurofeedback Market
9.5.5.3.1Rest of South and Central America Neurofeedback Market by Type
9.5.5.3.2Rest of South and Central America Neurofeedback Market by Application

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.NEUROFEEDBACK MARKET, KEY COMPANY PROFILES
11.1.BRAINMASTER TECHNOLOGIES, INC.
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.BEE MEDIC
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.NEUROBIT SYSTEMS
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.NEUROCARE GROUP GMBH
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.THOUGHT TECHNOLOGY LTD
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.MIND MEDIA
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.WEARABLE SENSING
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.STENS CORPORATION
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.MIND MEDIA B.V
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.THOUGHT TECHNOLOGY INC.
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
The List of Companies

1. Brainmaster Technologies, Inc
2. Bee Medic
3. Neurobit Systems
4. Neurocare Group Gmbh
5. Thought Technology Ltd
6. Mind Media
7. Wearable Sensing
8. Stens Corporation
9. Mind Media B.V
10. Thought Technology Inc
11. Neurotech International (AAT Research Ltd) n/a
12. BrainCo Inc. Private Company.
13. Soar Technology.
14. Neurosteer
15. MENDI INNOVATIONS AB

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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