Pain Relief Medication Market Strategies and Share 2031
Pain relievers are medicines that relieve headaches, sore muscles, arthritis, or other aches and pains. There are many different pain medicines, and each one has advantages and risks. Some types of pain respond better to certain medications than others. Medication is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy is an essential part of the medical field and relies on the science of pharmacology for continual advancement and pharmacy for appropriate management.
MARKET DYNAMICS
The pain relief medication market is driving due to the increasing expenditure capacity of the normal human beings, better inclusion in hospitals and various treatments. Moreover, hike in research funding, better drug development technology using AI and other advanced technologies, hike in clearance rate, government support boosts the growth of the market for pain relief medication.
MARKET SCOPE
The "Pain Relief Medication Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of pain relief medication market with detailed market segmentation by drug class, indication and distribution channel. The pain relief medication market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in pain relief medication market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The pain relief medication market is segmented on the basis of drug class, indication and distribution channel. Based on drug class, the market is segmented as nonsteroidal anti-inflammatory drugs, opioids and others. On the basis of indication, the market is categorized as cancer pain, neuropathic pain, musculoskeletal pain and others. On the basis of distribution channel, the market is categorized as hospital and retail pharmacies and online pharmacies.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the pain relief medication market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The pain relief medication market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting pain relief medication market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the pain relief medication market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the pain relief medication market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The pain relief medication market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting pain relief medication market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the pain relief medication market in these regions.
MARKET PLAYERS
The report covers key developments in the pain relief medication market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from pain relief medication market are anticipated to have lucrative growth opportunities in the future with the rising demand for pain relief medication in the global market. Below mentioned is the list of few companies engaged in the pain relief medication market.
The report also includes the profiles of key players in pain relief medication market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- AbbVie Inc. (US)
- Allergan PLC (Ireland)
- Astellas Pharma Inc. (Japan)
- Bayer (Germany)
- Biogen Idec (US)
- Boehringer Ingelheim International GmbH (Germany)
- Bristol-Myers Squibb (US)
- Eli Lilly and Company (US)
- GlaxoSmithKline (UK)
- Mallinckrodt Pharmaceuticals (UK)
- Pfizer, Inc. (US)
- Purdue Pharma (US)
- Sanofi (France)
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
- 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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pain Relief Medication Market - By Drug Class
1.3.2 Pain Relief Medication Market - By Indication
1.3.3 Pain Relief Medication Market - By Distribution Channel
1.3.4 Pain Relief Medication Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PAIN RELIEF MEDICATION 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 RELIEF MEDICATION 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 RELIEF MEDICATION MARKET - GLOBAL MARKET ANALYSIS
6.1. PAIN RELIEF MEDICATION - GLOBAL MARKET OVERVIEW
6.2. PAIN RELIEF MEDICATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PAIN RELIEF MEDICATION MARKET - REVENUE AND FORECASTS TO 2028 - DRUG CLASS
7.1. OVERVIEW
7.2. DRUG CLASS MARKET FORECASTS AND ANALYSIS
7.3. NONSTEROIDAL ANTI-INFLAMMATORY DRUGS
7.3.1. Overview
7.3.2. Nonsteroidal Anti-Inflammatory Drugs Market Forecast and Analysis
7.4. OPIOIDS
7.4.1. Overview
7.4.2. Opioids Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. PAIN RELIEF MEDICATION MARKET - REVENUE AND FORECASTS TO 2028 - INDICATION
8.1. OVERVIEW
8.2. INDICATION MARKET FORECASTS AND ANALYSIS
8.3. CANCER PAIN
8.3.1. Overview
8.3.2. Cancer Pain Market Forecast and Analysis
8.4. NEUROPATHIC PAIN
8.4.1. Overview
8.4.2. Neuropathic Pain Market Forecast and Analysis
8.5. MUSCULOSKELETAL PAIN
8.5.1. Overview
8.5.2. Musculoskeletal Pain Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. PAIN RELIEF MEDICATION MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. HOSPITAL AND RETAIL PHARMACIES
9.3.1. Overview
9.3.2. Hospital and Retail Pharmacies Market Forecast and Analysis
9.4. ONLINE PHARMACIES
9.4.1. Overview
9.4.2. Online Pharmacies Market Forecast and Analysis
10. PAIN RELIEF MEDICATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Pain Relief Medication Market Overview
10.1.2 North America Pain Relief Medication Market Forecasts and Analysis
10.1.3 North America Pain Relief Medication Market Forecasts and Analysis - By Drug Class
10.1.4 North America Pain Relief Medication Market Forecasts and Analysis - By Indication
10.1.5 North America Pain Relief Medication Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Pain Relief Medication Market Forecasts and Analysis - By Countries
10.1.6.1 United States Pain Relief Medication Market
10.1.6.1.1 United States Pain Relief Medication Market by Drug Class
10.1.6.1.2 United States Pain Relief Medication Market by Indication
10.1.6.1.3 United States Pain Relief Medication Market by Distribution Channel
10.1.6.2 Canada Pain Relief Medication Market
10.1.6.2.1 Canada Pain Relief Medication Market by Drug Class
10.1.6.2.2 Canada Pain Relief Medication Market by Indication
10.1.6.2.3 Canada Pain Relief Medication Market by Distribution Channel
10.1.6.3 Mexico Pain Relief Medication Market
10.1.6.3.1 Mexico Pain Relief Medication Market by Drug Class
10.1.6.3.2 Mexico Pain Relief Medication Market by Indication
10.1.6.3.3 Mexico Pain Relief Medication Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Pain Relief Medication Market Overview
10.2.2 Europe Pain Relief Medication Market Forecasts and Analysis
10.2.3 Europe Pain Relief Medication Market Forecasts and Analysis - By Drug Class
10.2.4 Europe Pain Relief Medication Market Forecasts and Analysis - By Indication
10.2.5 Europe Pain Relief Medication Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Pain Relief Medication Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Pain Relief Medication Market
10.2.6.1.1 Germany Pain Relief Medication Market by Drug Class
10.2.6.1.2 Germany Pain Relief Medication Market by Indication
10.2.6.1.3 Germany Pain Relief Medication Market by Distribution Channel
10.2.6.2 France Pain Relief Medication Market
10.2.6.2.1 France Pain Relief Medication Market by Drug Class
10.2.6.2.2 France Pain Relief Medication Market by Indication
10.2.6.2.3 France Pain Relief Medication Market by Distribution Channel
10.2.6.3 Italy Pain Relief Medication Market
10.2.6.3.1 Italy Pain Relief Medication Market by Drug Class
10.2.6.3.2 Italy Pain Relief Medication Market by Indication
10.2.6.3.3 Italy Pain Relief Medication Market by Distribution Channel
10.2.6.4 Spain Pain Relief Medication Market
10.2.6.4.1 Spain Pain Relief Medication Market by Drug Class
10.2.6.4.2 Spain Pain Relief Medication Market by Indication
10.2.6.4.3 Spain Pain Relief Medication Market by Distribution Channel
10.2.6.5 United Kingdom Pain Relief Medication Market
10.2.6.5.1 United Kingdom Pain Relief Medication Market by Drug Class
10.2.6.5.2 United Kingdom Pain Relief Medication Market by Indication
10.2.6.5.3 United Kingdom Pain Relief Medication Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Pain Relief Medication Market Overview
10.3.2 Asia-Pacific Pain Relief Medication Market Forecasts and Analysis
10.3.3 Asia-Pacific Pain Relief Medication Market Forecasts and Analysis - By Drug Class
10.3.4 Asia-Pacific Pain Relief Medication Market Forecasts and Analysis - By Indication
10.3.5 Asia-Pacific Pain Relief Medication Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Pain Relief Medication Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Pain Relief Medication Market
10.3.6.1.1 Australia Pain Relief Medication Market by Drug Class
10.3.6.1.2 Australia Pain Relief Medication Market by Indication
10.3.6.1.3 Australia Pain Relief Medication Market by Distribution Channel
10.3.6.2 China Pain Relief Medication Market
10.3.6.2.1 China Pain Relief Medication Market by Drug Class
10.3.6.2.2 China Pain Relief Medication Market by Indication
10.3.6.2.3 China Pain Relief Medication Market by Distribution Channel
10.3.6.3 India Pain Relief Medication Market
10.3.6.3.1 India Pain Relief Medication Market by Drug Class
10.3.6.3.2 India Pain Relief Medication Market by Indication
10.3.6.3.3 India Pain Relief Medication Market by Distribution Channel
10.3.6.4 Japan Pain Relief Medication Market
10.3.6.4.1 Japan Pain Relief Medication Market by Drug Class
10.3.6.4.2 Japan Pain Relief Medication Market by Indication
10.3.6.4.3 Japan Pain Relief Medication Market by Distribution Channel
10.3.6.5 South Korea Pain Relief Medication Market
10.3.6.5.1 South Korea Pain Relief Medication Market by Drug Class
10.3.6.5.2 South Korea Pain Relief Medication Market by Indication
10.3.6.5.3 South Korea Pain Relief Medication Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Pain Relief Medication Market Overview
10.4.2 Middle East and Africa Pain Relief Medication Market Forecasts and Analysis
10.4.3 Middle East and Africa Pain Relief Medication Market Forecasts and Analysis - By Drug Class
10.4.4 Middle East and Africa Pain Relief Medication Market Forecasts and Analysis - By Indication
10.4.5 Middle East and Africa Pain Relief Medication Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Pain Relief Medication Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Pain Relief Medication Market
10.4.6.1.1 South Africa Pain Relief Medication Market by Drug Class
10.4.6.1.2 South Africa Pain Relief Medication Market by Indication
10.4.6.1.3 South Africa Pain Relief Medication Market by Distribution Channel
10.4.6.2 Saudi Arabia Pain Relief Medication Market
10.4.6.2.1 Saudi Arabia Pain Relief Medication Market by Drug Class
10.4.6.2.2 Saudi Arabia Pain Relief Medication Market by Indication
10.4.6.2.3 Saudi Arabia Pain Relief Medication Market by Distribution Channel
10.4.6.3 U.A.E Pain Relief Medication Market
10.4.6.3.1 U.A.E Pain Relief Medication Market by Drug Class
10.4.6.3.2 U.A.E Pain Relief Medication Market by Indication
10.4.6.3.3 U.A.E Pain Relief Medication Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Pain Relief Medication Market Overview
10.5.2 South and Central America Pain Relief Medication Market Forecasts and Analysis
10.5.3 South and Central America Pain Relief Medication Market Forecasts and Analysis - By Drug Class
10.5.4 South and Central America Pain Relief Medication Market Forecasts and Analysis - By Indication
10.5.5 South and Central America Pain Relief Medication Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Pain Relief Medication Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Pain Relief Medication Market
10.5.6.1.1 Brazil Pain Relief Medication Market by Drug Class
10.5.6.1.2 Brazil Pain Relief Medication Market by Indication
10.5.6.1.3 Brazil Pain Relief Medication Market by Distribution Channel
10.5.6.2 Argentina Pain Relief Medication Market
10.5.6.2.1 Argentina Pain Relief Medication Market by Drug Class
10.5.6.2.2 Argentina Pain Relief Medication Market by Indication
10.5.6.2.3 Argentina Pain Relief Medication Market by Distribution Channel
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL PAIN RELIEF MEDICATION 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 RELIEF MEDICATION MARKET, KEY COMPANY PROFILES
13.1. ABBVIE INC. (US)
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. ALLERGAN PLC (IRELAND)
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. ASTELLAS PHARMA INC. (JAPAN)
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. BAYER (GERMANY)
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. BIOGEN IDEC (US)
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. BOEHRINGER INGELHEIM INTERNATIONAL GMBH (GERMANY)
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. BRISTOL-MYERS SQUIBB (US)
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. ELI LILLY AND COMPANY (US)
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. GLAXOSMITHKLINE (UK)
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. MALLINCKRODT PHARMACEUTICALS (UK)
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
13.11. PFIZER, INC. (US)
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
13.12. PURDUE PHARMA (US)
13.12.1. Key Facts
13.12.2. Business Description
13.12.3. Products and Services
13.12.4. Financial Overview
13.12.5. SWOT Analysis
13.12.6. Key Developments
13.13. SANOFI (FRANCE)
13.13.1. Key Facts
13.13.2. Business Description
13.13.3. Products and Services
13.13.4. Financial Overview
13.13.5. SWOT Analysis
13.13.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. AbbVie Inc. (US)
2. Allergan PLC (Ireland)
3. Astellas Pharma Inc. (Japan)
4. Bayer (Germany)
5. Biogen Idec (US)
6. Boehringer Ingelheim International GmbH (Germany)
7. Bristol-Myers Squibb (US)
8. Eli Lilly and Company (US)
9. GlaxoSmithKline (UK)
10. Mallinckrodt Pharmaceuticals (UK)
11. Pfizer, Inc. (US)
12. Purdue Pharma (US)
13. Sanofi (France)
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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