Pain Patch Market Scope, Size, and Share 2031
The Pain Patch Market is expected to register a CAGR of 4.7% 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 Type (Opioid and Non-Opioid), Type (Prescription Patches and Over-the-counter Patches), Therapeutic Use (Pain relief, Anaesthesia, Cough Suppression, Smoking Cessation, Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)
Purpose of the ReportThe report Pain Patch 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.
Pain Patch Market Segmentation
Product Type- Opioid and Non-Opioid
- Prescription Patches and Over-the-counter Patches
- Pain relief
- Anaesthesia
- Cough Suppression
- Smoking Cessation
- Others
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Strategic Insights
Pain Patch Market Growth Drivers- Growing Preference for Non-Invasive Pain Management: The growing need for non-invasive pain management solutions is a primary factor impacting the demand for pain patches globally. Those who do not wish to use oral medication, injections, or undergo surgery, are using pain patches, which relieve localized pain with minimal side effects. It is encouraging growth in the market, as more people are seeking these safer and easier options for pain management.
- Rise in Chronic Pain Conditions: The rising instances of conditions that cause chronic pains like arthritis, back pain, fibromyalgia, etc. is a major contributing factor to the pain patch market. Considering the fact that there is an aging population, already existing long-term pain among many, effective and user-friendly pain relief solutions such as pain relief patches are on the upsurge. Such patches offer controlled delivery of medication improving patient compliance to pain management treatment.
- Advancements in Patch Technology and Formulations: The growth of the pain patch market is propelled by innovations on transdermal drug delivery systems. Newer and effective formulations with high drug absorption rates, prolonged effect and less skin irritation are enhancing the effectiveness of pain patches. In addition, the application of active pharmaceutical ingredients with the heat or cold therapy patches is broadening the market for this form of pain alleviation as more consumers are drawn towards it.
- Integration of Natural and Herbal Ingredients: An emerging trend in the market for pain patch is the fortification of natural and herbal elements like menthol, capsaicin, and cannabidiol (CBD) among others. As consumers are more inclined towards the use of always available medicinal forms derived from sources of nature as opposed to pain relieving drugs, these patches are perfect for localized pain management. This is a trend that is increasing the market since it targets the health-conscious population.
- Wearable and Discreet Pain Relief Solutions: Pain patches have become more wearable and less conspicuous giving the patients a chance to relieve their pain without stopping their normal activities. With the help of advanced design and materials, pain removable patches have been made smaller, lighter and can now be worn under the clothes to provide relief on a continuous basis. This trend is consistent with the increased need for convenient and portable health care which has become a norm in today’s society.
- Focus on Personalized Pain Management: In the pain patch market, the trend of seeking personalized medicine for pain management is affecting the rate of progression in technology. Manufacturers are innovating on codes that are different in patches including neuropathic, musculoskeletal, and post-surgical pain patches to supply these specific needs. This way of doing things promotes effective treatment for patients hence excellent solutions are demanded as far as pain relief is concerned.
- Expansion into Elderly Care: With the present times witnessing a growing population of older persons, and the deterioration in levels of physical activity, the opiate patches in markets targeting elderly care chronically stands a very high chance of expansion. There are very high levels of chronic pain in arthritis and osteoporosis patients, many of whom are old, and such patients are taking impediments in painful conditions (including age) seeking painless and simple alternatives. Thin films for treatment of localized pain are useful and easy to use unlike oral medications which may cause unbearable side effects that an older person may find it difficult to tolerate.
- Growth in Sports and Fitness Market: The upsurge in injury cases associated with sports and the sporting culture, in general, comes with a pain relieving patch for muscle soreness and recovery. More and more athletes and fitness enthusiasts are resorting to creams and ointments for pain relief which allow them to be active and working within the limits of the pain. Pain patches that bring fast relief can become a significant usage rate for this demographic in their recovery period after workouts.
- Rising Demand for Non: Opioid Pain Management: The threat of addiction and abuse of opioids has led to a transition towards non: addictive alternatives for greater pain relief. Pain patches, which can be used to relieve the pain at a specific location without any oral pain medication, can help resolve this issue. With less help from the pain management policy, the pain patch from the distraction that gave a paracetamol alternative feel can flourish with the growing trend of management of pain without any opioids.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pain Patch 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 Pain Patch Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The pain patch market is estimated to grow with a CAGR of 4.7% from 2023 to 2031.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The pain patch market majorly consists of the players such as XX among others.
The market drivers include growing preference for non-invasive pain management and rise in chronic pain conditions are driving the pain patch market
Integration of natural and herbal ingredients are likely to remain the key trend during the forecast period
North America dominated the pain patch market in 2036
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pain Patch Market - By Type
1.3.2 Pain Patch Market - By Mode of administration
1.3.3 Pain Patch Market - By Therapeutic Use
1.3.4 Pain Patch Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PAIN PATCH 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. PAIN PATCH 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. PAIN PATCH MARKET - GLOBAL MARKET ANALYSIS
6.1. PAIN PATCH - GLOBAL MARKET OVERVIEW
6.2. PAIN PATCH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PAIN PATCH MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. OPIOID
7.3.1. Overview
7.3.2. Opioid Market Forecast and Analysis
7.4. NON-OPIOID
7.4.1. Overview
7.4.2. Non-Opioid Market Forecast and Analysis
8. PAIN PATCH MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF ADMINISTRATION
8.1. OVERVIEW
8.2. MODE OF ADMINISTRATION MARKET FORECASTS AND ANALYSIS
8.3. METERED DOSE
8.3.1. Overview
8.3.2. Metered Dose Market Forecast and Analysis
8.4. MICRONEEDLE PATCHES
8.4.1. Overview
8.4.2. Microneedle Patches Market Forecast and Analysis
9. PAIN PATCH MARKET - REVENUE AND FORECASTS TO 2028 - THERAPEUTIC USE
9.1. OVERVIEW
9.2. THERAPEUTIC USE MARKET FORECASTS AND ANALYSIS
9.3. PAIN RELIEF
9.3.1. Overview
9.3.2. Pain relief Market Forecast and Analysis
9.4. ANAESTHESIA
9.4.1. Overview
9.4.2. Anaesthesia Market Forecast and Analysis
9.5. COUGH SUPPRESSION
9.5.1. Overview
9.5.2. Cough Suppression Market Forecast and Analysis
9.6. SMOKING CESSATION
9.6.1. Overview
9.6.2. Smoking Cessation Market Forecast and Analysis
10. PAIN PATCH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Pain Patch Market Overview
10.1.2 North America Pain Patch Market Forecasts and Analysis
10.1.3 North America Pain Patch Market Forecasts and Analysis - By Type
10.1.4 North America Pain Patch Market Forecasts and Analysis - By Mode of administration
10.1.5 North America Pain Patch Market Forecasts and Analysis - By Therapeutic Use
10.1.6 North America Pain Patch Market Forecasts and Analysis - By Countries
10.1.6.1 United States Pain Patch Market
10.1.6.1.1 United States Pain Patch Market by Type
10.1.6.1.2 United States Pain Patch Market by Mode of administration
10.1.6.1.3 United States Pain Patch Market by Therapeutic Use
10.1.6.2 Canada Pain Patch Market
10.1.6.2.1 Canada Pain Patch Market by Type
10.1.6.2.2 Canada Pain Patch Market by Mode of administration
10.1.6.2.3 Canada Pain Patch Market by Therapeutic Use
10.1.6.3 Mexico Pain Patch Market
10.1.6.3.1 Mexico Pain Patch Market by Type
10.1.6.3.2 Mexico Pain Patch Market by Mode of administration
10.1.6.3.3 Mexico Pain Patch Market by Therapeutic Use
10.2. EUROPE
10.2.1 Europe Pain Patch Market Overview
10.2.2 Europe Pain Patch Market Forecasts and Analysis
10.2.3 Europe Pain Patch Market Forecasts and Analysis - By Type
10.2.4 Europe Pain Patch Market Forecasts and Analysis - By Mode of administration
10.2.5 Europe Pain Patch Market Forecasts and Analysis - By Therapeutic Use
10.2.6 Europe Pain Patch Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Pain Patch Market
10.2.6.1.1 Germany Pain Patch Market by Type
10.2.6.1.2 Germany Pain Patch Market by Mode of administration
10.2.6.1.3 Germany Pain Patch Market by Therapeutic Use
10.2.6.2 France Pain Patch Market
10.2.6.2.1 France Pain Patch Market by Type
10.2.6.2.2 France Pain Patch Market by Mode of administration
10.2.6.2.3 France Pain Patch Market by Therapeutic Use
10.2.6.3 Italy Pain Patch Market
10.2.6.3.1 Italy Pain Patch Market by Type
10.2.6.3.2 Italy Pain Patch Market by Mode of administration
10.2.6.3.3 Italy Pain Patch Market by Therapeutic Use
10.2.6.4 Spain Pain Patch Market
10.2.6.4.1 Spain Pain Patch Market by Type
10.2.6.4.2 Spain Pain Patch Market by Mode of administration
10.2.6.4.3 Spain Pain Patch Market by Therapeutic Use
10.2.6.5 United Kingdom Pain Patch Market
10.2.6.5.1 United Kingdom Pain Patch Market by Type
10.2.6.5.2 United Kingdom Pain Patch Market by Mode of administration
10.2.6.5.3 United Kingdom Pain Patch Market by Therapeutic Use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Pain Patch Market Overview
10.3.2 Asia-Pacific Pain Patch Market Forecasts and Analysis
10.3.3 Asia-Pacific Pain Patch Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Pain Patch Market Forecasts and Analysis - By Mode of administration
10.3.5 Asia-Pacific Pain Patch Market Forecasts and Analysis - By Therapeutic Use
10.3.6 Asia-Pacific Pain Patch Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Pain Patch Market
10.3.6.1.1 Australia Pain Patch Market by Type
10.3.6.1.2 Australia Pain Patch Market by Mode of administration
10.3.6.1.3 Australia Pain Patch Market by Therapeutic Use
10.3.6.2 China Pain Patch Market
10.3.6.2.1 China Pain Patch Market by Type
10.3.6.2.2 China Pain Patch Market by Mode of administration
10.3.6.2.3 China Pain Patch Market by Therapeutic Use
10.3.6.3 India Pain Patch Market
10.3.6.3.1 India Pain Patch Market by Type
10.3.6.3.2 India Pain Patch Market by Mode of administration
10.3.6.3.3 India Pain Patch Market by Therapeutic Use
10.3.6.4 Japan Pain Patch Market
10.3.6.4.1 Japan Pain Patch Market by Type
10.3.6.4.2 Japan Pain Patch Market by Mode of administration
10.3.6.4.3 Japan Pain Patch Market by Therapeutic Use
10.3.6.5 South Korea Pain Patch Market
10.3.6.5.1 South Korea Pain Patch Market by Type
10.3.6.5.2 South Korea Pain Patch Market by Mode of administration
10.3.6.5.3 South Korea Pain Patch Market by Therapeutic Use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Pain Patch Market Overview
10.4.2 Middle East and Africa Pain Patch Market Forecasts and Analysis
10.4.3 Middle East and Africa Pain Patch Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Pain Patch Market Forecasts and Analysis - By Mode of administration
10.4.5 Middle East and Africa Pain Patch Market Forecasts and Analysis - By Therapeutic Use
10.4.6 Middle East and Africa Pain Patch Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Pain Patch Market
10.4.6.1.1 South Africa Pain Patch Market by Type
10.4.6.1.2 South Africa Pain Patch Market by Mode of administration
10.4.6.1.3 South Africa Pain Patch Market by Therapeutic Use
10.4.6.2 Saudi Arabia Pain Patch Market
10.4.6.2.1 Saudi Arabia Pain Patch Market by Type
10.4.6.2.2 Saudi Arabia Pain Patch Market by Mode of administration
10.4.6.2.3 Saudi Arabia Pain Patch Market by Therapeutic Use
10.4.6.3 U.A.E Pain Patch Market
10.4.6.3.1 U.A.E Pain Patch Market by Type
10.4.6.3.2 U.A.E Pain Patch Market by Mode of administration
10.4.6.3.3 U.A.E Pain Patch Market by Therapeutic Use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Pain Patch Market Overview
10.5.2 South and Central America Pain Patch Market Forecasts and Analysis
10.5.3 South and Central America Pain Patch Market Forecasts and Analysis - By Type
10.5.4 South and Central America Pain Patch Market Forecasts and Analysis - By Mode of administration
10.5.5 South and Central America Pain Patch Market Forecasts and Analysis - By Therapeutic Use
10.5.6 South and Central America Pain Patch Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Pain Patch Market
10.5.6.1.1 Brazil Pain Patch Market by Type
10.5.6.1.2 Brazil Pain Patch Market by Mode of administration
10.5.6.1.3 Brazil Pain Patch Market by Therapeutic Use
10.5.6.2 Argentina Pain Patch Market
10.5.6.2.1 Argentina Pain Patch Market by Type
10.5.6.2.2 Argentina Pain Patch Market by Mode of administration
10.5.6.2.3 Argentina Pain Patch Market by Therapeutic Use
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL PAIN PATCH MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Rest of the World
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. PAIN PATCH MARKET, KEY COMPANY PROFILES
13.1. ALLERGAN PLC (ACTAVIS)
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ENDO INTERNATIONAL PLC
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. GLAXOSMITHKLINE PLC
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. HISAMITSU PHARMACEUTICAL CO.,INC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. JANSSEN PHARMACEUTICALS, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MYLAN N.V.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. PFIZER, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. PURDUE PHARMA L.P.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SANOFI-AVENTIS S.A.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. WEST-WARD PHARMACEUTICALS CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Allergan Plc (Actavis)
2. Endo International plc
3. GlaxoSmithKline plc
4. Hisamitsu Pharmaceutical Co.,Inc.
5. Janssen Pharmaceuticals, Inc.
6. Mylan N.V.
7. Pfizer, Inc.
8. Purdue Pharma L.P.
9. Sanofi-Aventis S.A.
10. West-Ward Pharmaceuticals Corporation
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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