Radiofrequency Ablation System Market Drivers [2021-2031]
The Radiofrequency Ablation System Market is expected to register a CAGR of 9.8% 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 (Disposable Equipment, Capital Equipment, and Reusable Equipment); Application (Surgical Oncology, Cardiology and Cardiac Rhythm Management, Cosmetology, Gynecology, and Pain Management). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Radiofrequency Ablation System 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.
Radiofrequency Ablation System Market Segmentation
Product- Disposable Equipment
- Capital Equipment
- Reusable Equipment
- Surgical Oncology
- Cardiology and Cardiac Rhythm Management
- Cosmetology
- Gynecology
- Pain Management
Strategic Insights
Radiofrequency Ablation System Market Growth Drivers- Technological Advancements: This market has been motivated by the consistent advancement in technology. Improvements in RFA-related devices, such as increased resolution and real-time imaging, have made the treatment of many medical conditions using these devices more effective. Besides better patient outcomes, these improvements also increase the number of applications, thereby forcing even more healthcare professionals to favor it.
- Increased Prevalence of Chronic Diseases: RFA System Market is highly driven by the rising prevalence of chronic diseases, especially cardiovascular and cancer diseases. Consequently, due to the increased prevalence of these conditions, there is a surged requirement for minimally invasive treatment options that radiofrequency ablation offers. This related trend away from more-invasive procedures reflects a more pervasive health care trend toward better recovery and patient satisfaction.
- Patient and provider awareness and acceptance of the benefits of RFA: This is because of educational programs, clinical studies, and positive outcomes following the treatment which provide a positive view of the therapy due to its safety and efficacy. It currently increases market growth since increasing patients are looking at RFA for various therapeutic uses with the subsequent uptake rates.
- Huge and Untapped Market Moving towards Minimally Invasive Procedures: The primary driver of the Radiofrequency Ablation system market is the growing use of minimally invasive procedures. As technology improves, accuracy and success rate of the procedure continue to increase, with more and more patients embracing this procedure as well as medical professionals who consider it the best alternative for a wide array of treatments.
- Expansion in Applications for Pain Management: The application of radiofrequency ablation is expanding beyond traditional uses, especially in the specialty area of pain management. RFA is increasingly used to treat chronic conditions under pain management, specifically those cases dealing with facet-mediated and neuropathic pains. This trend reflects a more widespread appreciation for the capability of RFA to provide long-term relief to patients, making its application in pain management clinics and rehabilitation centers for growth in the market.
- Growth in Emerging Markets: Radiofrequency ablation systems' adoption is on a higher rise in emerging markets. Improving health infrastructure and increased accessibility of sophisticated medical technologies are major factors that account for increased adoption of RFA among patients in the Asia-Pacific and Latin America regions. On the other hand, growth of healthcare expenditure and an increasing level of awareness regarding the advantageous benefits of RFA will boost growth in this market.
- New therapeutic areas: One of the biggest growth opportunities in the RFA system market will be through new therapeutic areas, as new research and evidence continues to emerge about the effectiveness of RFA across other conditions, such as certain cancers and chronic pain syndromes. There are opportunities here to present new patients and new providers, which stimulates further growth and innovation in the market.
- Advanced Technologies Development: One of the biggest opportunities for the RFA system market lies in the advancement of advanced technologies. Advanced technologies, which include robotic-assisted RFA, integration of images into systems, and many others, can enhance procedural accuracy and effectiveness. Investments in R&D by companies would lead to the development of next-generation devices that improve patient outcomes and workflow efficiency, giving them more ground in a crowded marketplace.
- Increasing Demand for Outpatient Procedures: The next promising opportunity for the RFA system market is the increasing demand for outpatient procedures. Due to cost containment and patient convenience, health care systems are increasingly becoming more aligned with outpatient care. Since RFA is known for its minimally invasive nature, it can fit perfectly. Manufacturers can make sure that the management of their business in these directions does not pass over a promising opportunity, matching a growing preference as well as enlarging access to care for the patient.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Radiofrequency Ablation System 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 Radiofrequency Ablation System 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
Boston Scientific Corporation, Medtronic, Stryker, Hologic, Inc., Cosman Medical, Inc. accounting for higesh market shares and are some of the major players operating in the market
The reusable equipment segment accounts for highest revenue in product the Radiofrequency Ablation System Market in 2023
Asia Pacific region dominated the Radiofrequency Ablation System Market in 2023
North America region dominated the Radiofrequency Ablation System Market in 2023
The Radiofrequency Ablation System Market is estimated to witness a CAGR of 9.8% from 2023 to 2031
The major driving factors of Radiofrequency Ablation System Market ?are:
1. Technological Advancement
2. Increased Prevalence of Chronic Diseases
3. Patient and provider awareness and acceptance of the benefits of RFA
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Radiofrequency Ablation System Market - By Product
1.3.2 Radiofrequency Ablation System Market - By Application
1.3.3 Radiofrequency Ablation System Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RADIOFREQUENCY ABLATION SYSTEM 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. RADIOFREQUENCY ABLATION SYSTEM 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. RADIOFREQUENCY ABLATION SYSTEM MARKET - GLOBAL MARKET ANALYSIS
6.1. RADIOFREQUENCY ABLATION SYSTEM - GLOBAL MARKET OVERVIEW
6.2. RADIOFREQUENCY ABLATION SYSTEM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RADIOFREQUENCY ABLATION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. DISPOSABLE EQUIPMENT
7.3.1. Overview
7.3.2. Disposable Equipment Market Forecast and Analysis
7.4. CAPITAL EQUIPMENT
7.4.1. Overview
7.4.2. Capital Equipment Market Forecast and Analysis
7.5. REUSABLE EQUIPMENT
7.5.1. Overview
7.5.2. Reusable Equipment Market Forecast and Analysis
8. RADIOFREQUENCY ABLATION SYSTEM MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SURGICAL ONCOLOGY
8.3.1. Overview
8.3.2. Surgical Oncology Market Forecast and Analysis
8.4. CARDIOLOGY AND CARDIAC RHYTHM MANAGEMENT
8.4.1. Overview
8.4.2. Cardiology and Cardiac Rhythm Management Market Forecast and Analysis
8.5. COSMETOLOGY
8.5.1. Overview
8.5.2. Cosmetology Market Forecast and Analysis
8.6. GYNECOLOGY
8.6.1. Overview
8.6.2. Gynecology Market Forecast and Analysis
8.7. PAIN MANAGEMENT
8.7.1. Overview
8.7.2. Pain Management Market Forecast and Analysis
9. RADIOFREQUENCY ABLATION SYSTEM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Radiofrequency Ablation System Market Overview
9.1.2 North America Radiofrequency Ablation System Market Forecasts and Analysis
9.1.3 North America Radiofrequency Ablation System Market Forecasts and Analysis - By Product
9.1.4 North America Radiofrequency Ablation System Market Forecasts and Analysis - By Application
9.1.5 North America Radiofrequency Ablation System Market Forecasts and Analysis - By Countries
9.1.5.1 United States Radiofrequency Ablation System Market
9.1.5.1.1 United States Radiofrequency Ablation System Market by Product
9.1.5.1.2 United States Radiofrequency Ablation System Market by Application
9.1.5.2 Canada Radiofrequency Ablation System Market
9.1.5.2.1 Canada Radiofrequency Ablation System Market by Product
9.1.5.2.2 Canada Radiofrequency Ablation System Market by Application
9.1.5.3 Mexico Radiofrequency Ablation System Market
9.1.5.3.1 Mexico Radiofrequency Ablation System Market by Product
9.1.5.3.2 Mexico Radiofrequency Ablation System Market by Application
9.2. EUROPE
9.2.1 Europe Radiofrequency Ablation System Market Overview
9.2.2 Europe Radiofrequency Ablation System Market Forecasts and Analysis
9.2.3 Europe Radiofrequency Ablation System Market Forecasts and Analysis - By Product
9.2.4 Europe Radiofrequency Ablation System Market Forecasts and Analysis - By Application
9.2.5 Europe Radiofrequency Ablation System Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Radiofrequency Ablation System Market
9.2.5.1.1 Germany Radiofrequency Ablation System Market by Product
9.2.5.1.2 Germany Radiofrequency Ablation System Market by Application
9.2.5.2 France Radiofrequency Ablation System Market
9.2.5.2.1 France Radiofrequency Ablation System Market by Product
9.2.5.2.2 France Radiofrequency Ablation System Market by Application
9.2.5.3 Italy Radiofrequency Ablation System Market
9.2.5.3.1 Italy Radiofrequency Ablation System Market by Product
9.2.5.3.2 Italy Radiofrequency Ablation System Market by Application
9.2.5.4 Spain Radiofrequency Ablation System Market
9.2.5.4.1 Spain Radiofrequency Ablation System Market by Product
9.2.5.4.2 Spain Radiofrequency Ablation System Market by Application
9.2.5.5 United Kingdom Radiofrequency Ablation System Market
9.2.5.5.1 United Kingdom Radiofrequency Ablation System Market by Product
9.2.5.5.2 United Kingdom Radiofrequency Ablation System Market by Application
9.2.5.6 Rest of Europe Radiofrequency Ablation System Market
9.2.5.6.1 Rest of Europe Radiofrequency Ablation System Market by Product
9.2.5.6.2 Rest of Europe Radiofrequency Ablation System Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Radiofrequency Ablation System Market Overview
9.3.2 Asia-Pacific Radiofrequency Ablation System Market Forecasts and Analysis
9.3.3 Asia-Pacific Radiofrequency Ablation System Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Radiofrequency Ablation System Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Radiofrequency Ablation System Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Radiofrequency Ablation System Market
9.3.5.1.1 Australia Radiofrequency Ablation System Market by Product
9.3.5.1.2 Australia Radiofrequency Ablation System Market by Application
9.3.5.2 China Radiofrequency Ablation System Market
9.3.5.2.1 China Radiofrequency Ablation System Market by Product
9.3.5.2.2 China Radiofrequency Ablation System Market by Application
9.3.5.3 India Radiofrequency Ablation System Market
9.3.5.3.1 India Radiofrequency Ablation System Market by Product
9.3.5.3.2 India Radiofrequency Ablation System Market by Application
9.3.5.4 Japan Radiofrequency Ablation System Market
9.3.5.4.1 Japan Radiofrequency Ablation System Market by Product
9.3.5.4.2 Japan Radiofrequency Ablation System Market by Application
9.3.5.5 South Korea Radiofrequency Ablation System Market
9.3.5.5.1 South Korea Radiofrequency Ablation System Market by Product
9.3.5.5.2 South Korea Radiofrequency Ablation System Market by Application
9.3.5.6 Rest of Asia-Pacific Radiofrequency Ablation System Market
9.3.5.6.1 Rest of Asia-Pacific Radiofrequency Ablation System Market by Product
9.3.5.6.2 Rest of Asia-Pacific Radiofrequency Ablation System Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Radiofrequency Ablation System Market Overview
9.4.2 Middle East and Africa Radiofrequency Ablation System Market Forecasts and Analysis
9.4.3 Middle East and Africa Radiofrequency Ablation System Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Radiofrequency Ablation System Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Radiofrequency Ablation System Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Radiofrequency Ablation System Market
9.4.5.1.1 South Africa Radiofrequency Ablation System Market by Product
9.4.5.1.2 South Africa Radiofrequency Ablation System Market by Application
9.4.5.2 Saudi Arabia Radiofrequency Ablation System Market
9.4.5.2.1 Saudi Arabia Radiofrequency Ablation System Market by Product
9.4.5.2.2 Saudi Arabia Radiofrequency Ablation System Market by Application
9.4.5.3 U.A.E Radiofrequency Ablation System Market
9.4.5.3.1 U.A.E Radiofrequency Ablation System Market by Product
9.4.5.3.2 U.A.E Radiofrequency Ablation System Market by Application
9.4.5.4 Rest of Middle East and Africa Radiofrequency Ablation System Market
9.4.5.4.1 Rest of Middle East and Africa Radiofrequency Ablation System Market by Product
9.4.5.4.2 Rest of Middle East and Africa Radiofrequency Ablation System Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Radiofrequency Ablation System Market Overview
9.5.2 South and Central America Radiofrequency Ablation System Market Forecasts and Analysis
9.5.3 South and Central America Radiofrequency Ablation System Market Forecasts and Analysis - By Product
9.5.4 South and Central America Radiofrequency Ablation System Market Forecasts and Analysis - By Application
9.5.5 South and Central America Radiofrequency Ablation System Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Radiofrequency Ablation System Market
9.5.5.1.1 Brazil Radiofrequency Ablation System Market by Product
9.5.5.1.2 Brazil Radiofrequency Ablation System Market by Application
9.5.5.2 Argentina Radiofrequency Ablation System Market
9.5.5.2.1 Argentina Radiofrequency Ablation System Market by Product
9.5.5.2.2 Argentina Radiofrequency Ablation System Market by Application
9.5.5.3 Rest of South and Central America Radiofrequency Ablation System Market
9.5.5.3.1 Rest of South and Central America Radiofrequency Ablation System Market by Product
9.5.5.3.2 Rest of South and Central America Radiofrequency Ablation System Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL RADIOFREQUENCY ABLATION SYSTEM MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. RADIOFREQUENCY ABLATION SYSTEM MARKET, KEY COMPANY PROFILES
12.1. BOSTON SCIENTIFIC CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. MEDTRONIC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. STRYKER
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HOLOGIC, INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. COSMAN MEDICAL, INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. ST. JUDE MEDICAL
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. C. R. BARD, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SMITH AND NEPHEW
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. JOHNSON AND JOHNSON, LLC
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. ANGIODYNAMICS
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Boston Scientific Corporation
2. Medtronic
3. Stryker
4. Hologic, Inc.
5. Cosman Medical, Inc.
6. St. Jude Medical
7. C. R. Bard, Inc.
8. Smith & Nephew
9. Johnson & Johnson (J&J) Services, LLC
10. AngioDynamics
11. Halyard Health, Inc.
12. AtriCure, Inc.
13. Baylis Medical
14. Arthrex, Inc.
15. Inomed Medizintechnik GmbH
16. Sutter Medizintechnik GmbH
17. Bramsys Indústria e Comércio Ltda
18. ENDO-FLEX GmbH
19. Epimed International
20. SFM Medical Devices GmbH
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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