North America Endoscopy Procedure Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW
Endoscopy is a minimally invasive procedure used to examine a person's digestive tract through the mouth, anus, or in small incisions. The procedure uses an endoscope, a flexible tube with a light and camera attached. Most endoscopes are thin tubes with powerful light and a tiny camera at the end. Endoscopy helps in diagnosing the body parts such as the esophagus, stomach, colon, ears, nose, throat, heart, urinary tract, and abdomen.
MARKET SCOPE
The "North America Endoscopy Procedure Market Analysis to 2031" is a specialized and in-depth examination of the healthcare industry, with a particular emphasis on regional market trend analysis. The purpose of this report is to provide an overview of the North America endoscopy procedure market, as well as detailed market segmentation based on procedures, offering, product type, and end user. Additionally, the report offers key statistics on the market status of the leading North America endoscopy procedure market players, as well as key market trends and opportunities.
MARKET SEGMENTATION
- Based on procedures, the market is segmented into endoscopic retrograde cholangiopancreatography (ERCP), endoscopic submucosal dissection (ESD), peroral endoscopic myotomy (POEM), endoscopic ultrasound (EUS), interventional pulmonology and laparoscopy, arthroscopy and bronchoscopy, colonoscopy and colposcopy, proctoscopy and thoracoscopy, and others.
- Based on offering, the market is segmented into endoscopes, ERCP accessories, head positioner and endotherapy injection needles, sampling device and device clip and electrosurgical knife, endoscopic ultrasound (EUS) guided devices, guidewire, forceps, snare, irrigation/insufflation tubing systems, probes, hemostasis clip, polyp traps, single-use valves, trocar sleeves and tissue scissors and cutters, and others (kits/stents/energy devices/ transport pad/cleaning brush/OT lights etc.)
- Based on product type, the market is bifurcated into disposable and reusable.
- Based on end user, the market is segmented into hospitals and clinics, ambulatory surgical centers, diagnostic laboratories, and others.
MARKET DYNAMICS
Drivers
- Growing prevalence of chronic diseases in Canda is boosting the market growth.
- Increasing demand for minimally invasive procedures will fuel the market growth.
Restraint
- High cost of endoscopy procedures hinders the growth of overall market.
REGIONAL FRAMEWORK
The report offers a comprehensive overview of the industry, including both qualitative and quantitative data. It provides a regional market overview and forecast based on various segments. It also provides market size and forecast estimates for North America, from 2022 to 2031. The report analyses and forecasts US, Canada, and Mexico as well as the current trend and opportunities in the region.
The report analyses market factors affecting both the demand and supply sides and market dynamics affecting the market during the forecast period, such as drivers, restraints, opportunities, and future trends. The report also includes a comprehensive PEST analysis for North America after assessing the political, economic, social, and technological factors influencing the North America endoscopy procedure market in the region.
Impact of COVID-19 on North America Endoscopy Procedure Market
In the United States, many clinics, hospitals, and other healthcare facilities are delaying or canceling gastric cancer procedures, surgeries, and sometimes screenings or other treatments if it was not considered urgent, emergency, or otherwise indicated for life-threatening conditions. Gastric cancer patients were requested to social distance as they were more prone to contracting coronavirus due to weak immune systems. More research was being conducted on COVID-19 diagnosis than any other disease diagnosis. The COVID-19 pandemic has profoundly impacted the endoscopy department, characterized by a consistent reduction of upper and lower GI procedures and a more modest reduction of ERCPs. Cancellation of elective and emergent endoscopy in IBD care during the pandemic was common. Endoscopic procedures were mostly carried out in emergencies, but therapeutic procedures were associated with fewer complications and higher success rates. The shortage of medical staff during the COVID-19 pandemic also led to adoption of single-use devices due to increased infection risks associated with cleaning endoscopes. With COVID-19's gradual departure, demand for single-use endoscopes had increased due to their safety and the elimination of infection risks.
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The report offers a comprehensive overview of the industry, including both qualitative and quantitative data. It provides a regional market overview and forecast based on various segments. It also provides market size and forecast estimates for North America, from 2022 to 2031. The report analyses and forecasts US, Canada, and Mexico as well as the current trend and opportunities in the region.
The report analyses market factors affecting both the demand and supply sides and market dynamics affecting the market during the forecast period, such as drivers, restraints, opportunities, and future trends. The report also includes a comprehensive PEST analysis for North America after assessing the political, economic, social, and technological factors influencing the North America endoscopy procedure market in the region.
Impact of COVID-19 on North America Endoscopy Procedure Market
In the United States, many clinics, hospitals, and other healthcare facilities are delaying or canceling gastric cancer procedures, surgeries, and sometimes screenings or other treatments if it was not considered urgent, emergency, or otherwise indicated for life-threatening conditions. Gastric cancer patients were requested to social distance as they were more prone to contracting coronavirus due to weak immune systems. More research was being conducted on COVID-19 diagnosis than any other disease diagnosis. The COVID-19 pandemic has profoundly impacted the endoscopy department, characterized by a consistent reduction of upper and lower GI procedures and a more modest reduction of ERCPs. Cancellation of elective and emergent endoscopy in IBD care during the pandemic was common. Endoscopic procedures were mostly carried out in emergencies, but therapeutic procedures were associated with fewer complications and higher success rates. The shortage of medical staff during the COVID-19 pandemic also led to adoption of single-use devices due to increased infection risks associated with cleaning endoscopes. With COVID-19's gradual departure, demand for single-use endoscopes had increased due to their safety and the elimination of infection risks.
MARKET PLAYERS
The report covers key developments in the North America endoscopy procedure market with focus on two main strategies such as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies that includes new product launches, product approvals by the authorized bodies, and others such as patents and events. Inorganic growth strategies activities normally includes strategic acquisitions, and partnership & collaborations between the companies. These activities have paved way for the expansion of business and customer base of market players. The market payers from North America endoscopy procedure market are anticipated to have lucrative growth opportunities with the rising demand for minimally invasive diagnostic and treatment procedures in North America.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the North America endoscopy procedure market. Also, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, and the key development in the past five years.
- Steris Corporation
- CONMED Corporation
- Olympus Corporation
- Boston Scientific Corporation
- Fujifilm Corporation
- Erbe Elektromedizin Gmbh
- Micro-tech (Nanjing) Co., Ltd
- Merit Medical
- Cook Medical
- Stryker Corporation
- Johnson & Johnson Inc
The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Endoscopy Procedure Market - By Procedures
1.3.2 Endoscopy Procedure Market - By Offering
1.3.3 Endoscopy Procedure Market - By Product Type
1.3.4 Endoscopy Procedure Market - By End User
1.3.5 Endoscopy Procedure Market - By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ENDOSCOPY PROCEDURE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.3. EXPERT OPINIONS
5. ENDOSCOPY PROCEDURE 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. ENDOSCOPY PROCEDURE MARKET - NORTH AMERICA MARKET ANALYSIS
6.1. ENDOSCOPY PROCEDURE - NORTH AMERICA MARKET OVERVIEW
6.2. ENDOSCOPY PROCEDURE - NORTH AMERICA MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ENDOSCOPY PROCEDURE MARKET - REVENUE AND FORECASTS TO 2028 – PROCEDURES
7.1. OVERVIEW
7.2. PROCEDURES MARKET FORECASTS AND ANALYSIS
7.3. ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP)
7.3.1. Overview
7.3.2. Endoscopic Retrograde Cholangiopancreatography (ERCP) Market Forecast and Analysis
7.3.3. Obstructive Jaundice Market
7.3.3.1. Overview
7.3.3.2. Obstructive Jaundice Market Forecast and Analysis
7.3.4. Gallstones Market
7.3.4.1. Overview
7.3.4.2. Gallstones Market Forecast and Analysis
7.3.5. Suspicion of Injury to Bile Duct Market
7.3.5.1. Overview
7.3.5.2. Suspicion of Injury to Bile Duct Market Forecast and Analysis
7.3.6. Biliary Stenosis and Biliary Duct Tumors Market
7.3.6.1. Overview
7.3.6.2. Biliary Stenosis and Biliary Duct Tumors Market Forecast and Analysis
7.3.7. Sphinter of Oddi Dysfunction Market
7.3.7.1. Overview
7.3.7.2. Sphinter of Oddi Dysfunction Market Forecast and Analysis
7.3.8. Others Market
7.3.8.1. Overview
7.3.8.2. Others Market Forecast and Analysis
7.4. ENDOSCOPIC SUBMUCOSAL DISSECTION (ESD)
7.4.1. Overview
7.4.2. Endoscopic Submucosal Dissection (ESD) Market Forecast and Analysis
7.5. PERORAL ENDOSCOPIC MYOTOMY (POEM)
7.5.1. Overview
7.5.2. Peroral Endoscopic Myotomy (POEM) Market Forecast and Analysis
7.6. ENDOSCOPIC ULTRASOUND (EUS)
7.6.1. Overview
7.6.2. Endoscopic Ultrasound (EUS) Market Forecast and Analysis
7.7. INTERVENTIONAL PULMONOLOGY AND LAPAROSCOPY
7.7.1. Overview
7.7.2. Interventional Pulmonology and Laparoscopy Market Forecast and Analysis
7.8. ARTHROSCOPY AND BRONCHOSCOPY
7.8.1. Overview
7.8.2. Arthroscopy and Bronchoscopy Market Forecast and Analysis
7.9. COLONOSCOPY AND COLPOSCOPY
7.9.1. Overview
7.9.2. Colonoscopy and Colposcopy Market Forecast and Analysis
7.10. PROCTOSCOPY AND THORACOSCOPY
7.10.1. Overview
7.10.2. Proctoscopy and Thoracoscopy Market Forecast and Analysis
7.11. OTHERS
7.11.1. Overview
7.11.2. Others Market Forecast and Analysis
8. ENDOSCOPY PROCEDURE MARKET - REVENUE AND FORECASTS TO 2028 – OFFERING
8.1. OVERVIEW
8.2. OFFERING MARKET FORECASTS AND ANALYSIS
8.3. ENDOSCOPES
8.3.1. Overview
8.3.2. Endoscopes Market Forecast and Analysis
8.4. ERCP ACCESSORIES
8.4.1. Overview
8.4.2. ERCP Accessories Market Forecast and Analysis
8.4.3. Single-use ERCP Guidewire Market
8.4.3.1. Overview
8.4.3.2. Single-use ERCP Guidewire Market Forecast and Analysis
8.4.4. Exchange Assistance Devices (Short-Wire ERCP Systems) Market
8.4.4.1. Overview
8.4.4.2. Exchange Assistance Devices (Short-Wire ERCP Systems) Market Forecast and Analysis
8.4.5. Sphincterotome and Rotatable Sphincterotome Market
8.4.5.1. Overview
8.4.5.2. Sphincterotome and Rotatable Sphincterotome Market Forecast and Analysis
8.4.6. Single-Stage Dilatation Balloon and Progressive Dilatation Balloon Market
8.4.6.1. Overview
8.4.6.2. Single-Stage Dilatation Balloon and Progressive Dilatation Balloon Market Forecast and Analysis
8.4.7. Single-use Stone Retrieval Basket/ Single-use Nitinol Stone Retrieval Basket/ Single-use Stone Extraction Catheter Market
8.4.7.1. Overview
8.4.7.2. Single-use Stone Retrieval Basket/ Single-use Nitinol Stone Retrieval Basket/ Single-use Stone Extraction Catheter Market Forecast and Analysis
8.4.8. Single-use Biliary Draining Tubing/ Single-use Biliary Drainage Catheter/ Single-use Nasal Biliary Drainage Catheter Market
8.4.8.1. Overview
8.4.8.2. Single-use Biliary Draining Tubing/ Single-use Biliary Drainage Catheter/ Single-use Nasal Biliary Drainage Catheter Market Forecast and Analysis
8.4.9. Others Market
8.4.9.1. Overview
8.4.9.2. Others Market Forecast and Analysis
8.5. HEAD POSITIONER AND ENDOTHERAPY INJECTION NEEDLES
8.5.1. Overview
8.5.2. Head positioner and Endotherapy Injection Needles Market Forecast and Analysis
8.6. SAMPLING DEVICE AND DEVICE CLIP AND ELECTROSURGICAL KNIFE
8.6.1. Overview
8.6.2. Sampling Device and Device Clip and Electrosurgical Knife Market Forecast and Analysis
8.7. ENDOSCOPIC ULTRASOUND (EUS) GUIDED DEVICES
8.7.1. Overview
8.7.2. Endoscopic Ultrasound (EUS) Guided Devices Market Forecast and Analysis
8.8. GUIDEWIRE
8.8.1. Overview
8.8.2. Guidewire Market Forecast and Analysis
8.9. FORCEPS
8.9.1. Overview
8.9.2. Forceps Market Forecast and Analysis
8.10. SNARE
8.10.1. Overview
8.10.2. Snare Market Forecast and Analysis
8.11. IRRIGATION/INSUFFLATION TUBING SYSTEMS
8.11.1. Overview
8.11.2. Irrigation/Insufflation tubing systems Market Forecast and Analysis
8.12. PROBES
8.12.1. Overview
8.12.2. Probes Market Forecast and Analysis
8.13. HEMOSTASIS CLIP
8.13.1. Overview
8.13.2. Hemostasis Clip Market Forecast and Analysis
8.14. POLYP TRAPS
8.14.1. Overview
8.14.2. Polyp Traps Market Forecast and Analysis
8.15. SINGLE-USE VALVES
8.15.1. Overview
8.15.2. Single-Use Valves Market Forecast and Analysis
8.16. TROCAR SLEEVES AND TISSUE SCISSORS AND CUTTERS
8.16.1. Overview
8.16.2. Trocar sleeves and Tissue Scissors and Cutters Market Forecast and Analysis
8.17. RETRIEVAL DEVICES
8.17.1. Overview
8.17.2. Retrieval Devices Market Forecast and Analysis
8.18. VISUALIZATION SYSTEMS
8.18.1. Overview
8.18.2. Visualization Systems Market Forecast and Analysis
8.19. OTHERS (KITS/STENTS/ENERGY DEVICES/ TRANSPORT PAD/CLEANING BRUSH/OT LIGHTS ETC.)
8.19.1. Overview
8.19.2. Others (Kits/Stents/Energy Devices/ Transport pad/Cleaning Brush/OT Lights etc.) Market Forecast and Analysis
9. ENDOSCOPY PROCEDURE MARKET - REVENUE AND FORECASTS TO 2028 – PRODUCT TYPE
9.1. OVERVIEW
9.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
9.3. DISPOSABLE
9.3.1. Overview
9.3.2. Disposable Market Forecast and Analysis
9.4. REUSABLE
9.4.1. Overview
9.4.2. Reusable Market Forecast and Analysis
10. ENDOSCOPY PROCEDURE MARKET - REVENUE AND FORECASTS TO 2028 – END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS AND CLINICS
10.3.1. Overview
10.3.2. Hospitals and Clinics Market Forecast and Analysis
10.4. AMBULATORY SURGICAL CENTERS
10.4.1. Overview
10.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
10.5. DIAGNOSTIC LABORATORIES
10.5.1. Overview
10.5.2. Diagnostic Laboratories Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. ENDOSCOPY PROCEDURE MARKET REVENUE AND FORECASTS TO 2028 – COUNTRY ANALYSIS
- 11.1 NORTH AMERICA ENDOSCOPY PROCEDURE MARKET OVERVIEW
- 11.2 NORTH AMERICA ENDOSCOPY PROCEDURE MARKET FORECASTS AND ANALYSIS
- 11.3 NORTH AMERICA ENDOSCOPY PROCEDURE MARKET FORECASTS AND ANALYSIS - BY COUNTRIES
11.3.1 Canada Endoscopy Procedure Market
- 11.3.1.1 Canada Endoscopy Procedure Market by Procedures
- 11.3.1.2 Canada Endoscopy Procedure Market by Offering
- 11.3.1.3 Canada Endoscopy Procedure Market by Product Type
- 11.3.1.4 Canada Endoscopy Procedure Market by End User
11.3.2 Mexico Endoscopy Procedure Market
- 11.3.2.1 Mexico Endoscopy Procedure Market by Procedures
- 11.3.2.2 Mexico Endoscopy Procedure Market by Offering
- 11.3.2.3 Mexico Endoscopy Procedure Market by Product Type
- 11.3.2.4 Mexico Endoscopy Procedure Market by End User
11.3.3 US Endoscopy Procedure Market
- 11.3.3.1 US Endoscopy Procedure Market by Procedures
- 11.3.3.2 US Endoscopy Procedure Market by Offering
- 11.3.3.3 US Endoscopy Procedure Market by Product Type
- 11.3.3.4 US Endoscopy Procedure Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON NORTH AMERICA ENDOSCOPY PROCEDURE MARKET
12.1 NORTH AMERICA
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOINT VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. ENDOSCOPY PROCEDURE MARKET, KEY COMPANY PROFILES
14.1. STERIS
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. CONMED CORPORATION
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. OLYMPUS
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. BOSTON SCIENTIFIC CORPORATION
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. ERBE ELEKTROMEDIZIN GMBH
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. MICRO-TECH (NANJING) CO., LTD.
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. MERIT MEDICAL
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. COOK MEDICAL
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. STRYKER CORPORATION
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. JOHNSON AND JOHNSON INC
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
14.11. PENTAX MEDICAL
14.11.1. Key Facts
14.11.2. Business Description
14.11.3. Products and Services
14.11.4. Financial Overview
14.11.5. SWOT Analysis
14.11.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
The List of Companies - North America Endoscopy Procedure Market
- Steris Corporation
- CONMED Corporation
- Olympus Corporation
- Boston Scientific Corporation
- Fujifilm Corporation
- Erbe Elektromedizin Gmbh
- Micro-tech (Nanjing) Co., Ltd
- Merit Medical
- Cook Medical
- Stryker Corporation
- Johnson & Johnson 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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