Refurbished Medical Device Market Scope and Size by 2031
A refurbished medical device is defined as a piece of restored medical equipment rebuilt to a condition that is similar to the new equipment. Refurbishment involves reconditioning, repair, installation of certain software/hardware updates without altering the proposed use of the original device, and replacement of worn parts.
MARKET DYNAMICS
The growth of the global refurbished medical devices market can be accredited to factors such as hospital budget cuts, rising demand for capital-intensive diagnostic imaging equipment, a large inventory of used or old medical devises, growing preference for eco-friendly products, and an increasing number of diagnostic centers & hospitals.
MARKET SCOPE
The "Refurbished Medical Device 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 refurbished medical device market with detailed market segmentation by product type and application. The refurbished medical device 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 refurbished medical device market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The refurbished medical device market is segmented on the basis of product, application and end user. Based on product, the market is segmented as medical imaging, intensive care equipment, or equipment, and patient monitors. On the basis application, the market is categorized as diagnostic and therapeutic. By end user, the market is segmented as hospitals, ambulatory care centers, diagnostic imaging centers, and other end users.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the refurbished medical device 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 refurbished medical device 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 refurbished medical device 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 refurbished medical device 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 refurbished medical device 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 refurbished medical device 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 refurbished medical device 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 refurbished medical device market in these regions.
MARKET PLAYERS
The report covers key developments in the refurbished medical device 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 refurbished medical device market are anticipated to have lucrative growth opportunities in the future with the rising demand for refurbished medical device in the global market. Below mentioned is the list of few companies engaged in the refurbished medical device market.
The report also includes the profiles of key players in refurbished medical device 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.
- GE Healthcare
- Siemens Healthineers
- Koninklijke Philips N.V.
- Block Imaging
- SOMA TECH INTL
- US Med-Equip
- Avante Health Solutions
- Everx Pvt Ltd.
- Integrity Medical Systems, Inc.
- Radiology Oncology Systems, Inc
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 Refurbished Medical Device Market - By Product
1.3.2 Refurbished Medical Device Market - By Application
1.3.3 Refurbished Medical Device Market - By End User
1.3.4 Refurbished Medical Device Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REFURBISHED MEDICAL DEVICE 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. REFURBISHED MEDICAL DEVICE 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. REFURBISHED MEDICAL DEVICE MARKET - GLOBAL MARKET ANALYSIS
6.1. REFURBISHED MEDICAL DEVICE - GLOBAL MARKET OVERVIEW
6.2. REFURBISHED MEDICAL DEVICE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. REFURBISHED MEDICAL DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. MEDICAL IMAGING
7.3.1. Overview
7.3.2. Medical Imaging Market Forecast and Analysis
7.3.3. X-ray Machines Market
7.3.3.1. Overview
7.3.3.2. X-ray Machines Market Forecast and Analysis
7.3.4. Ultrasound Systems Market
7.3.4.1. Overview
7.3.4.2. Ultrasound Systems Market Forecast and Analysis
7.3.5. MRI Machines Market
7.3.5.1. Overview
7.3.5.2. MRI Machines Market Forecast and Analysis
7.3.6. CT Scanners Market
7.3.6.1. Overview
7.3.6.2. CT Scanners Market Forecast and Analysis
7.3.7. Others Market
7.3.7.1. Overview
7.3.7.2. Others Market Forecast and Analysis
7.4. INTENSIVE CARE EQUIPMENT
7.4.1. Overview
7.4.2. Intensive Care Equipment Market Forecast and Analysis
7.4.3. Ventilators Market
7.4.3.1. Overview
7.4.3.2. Ventilators Market Forecast and Analysis
7.4.4. Infant Incubators and Warmers Market
7.4.4.1. Overview
7.4.4.2. Infant Incubators and Warmers Market Forecast and Analysis
7.5. OR EQUIPMENT
7.5.1. Overview
7.5.2. OR Equipment Market Forecast and Analysis
7.5.3. Anesthesia Machines Market
7.5.3.1. Overview
7.5.3.2. Anesthesia Machines Market Forecast and Analysis
7.5.4. Operating Room Tables and Lights Market
7.5.4.1. Overview
7.5.4.2. Operating Room Tables and Lights Market Forecast and Analysis
7.5.5. Surgical Displays Market
7.5.5.1. Overview
7.5.5.2. Surgical Displays Market Forecast and Analysis
7.5.6. Others Market
7.5.6.1. Overview
7.5.6.2. Others Market Forecast and Analysis
7.6. PATIENT MONITORS
7.6.1. Overview
7.6.2. Patient Monitors Market Forecast and Analysis
7.6.3. Multi-parameter Monitors Market
7.6.3.1. Overview
7.6.3.2. Multi-parameter Monitors Market Forecast and Analysis
7.6.4. Electrocardiography Devices Market
7.6.4.1. Overview
7.6.4.2. Electrocardiography Devices Market Forecast and Analysis
7.6.5. Pulse Oximeters Market
7.6.5.1. Overview
7.6.5.2. Pulse Oximeters Market Forecast and Analysis
7.6.6. Mobile Cardiac Telemetry Devices Market
7.6.6.1. Overview
7.6.6.2. Mobile Cardiac Telemetry Devices Market Forecast and Analysis
7.6.7. Others Market
7.6.7.1. Overview
7.6.7.2. Others Market Forecast and Analysis
8. REFURBISHED MEDICAL DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. DIAGNOSTIC
8.3.1. Overview
8.3.2. Diagnostic Market Forecast and Analysis
8.4. THERAPEUTIC
8.4.1. Overview
8.4.2. Therapeutic Market Forecast and Analysis
9. REFURBISHED MEDICAL DEVICE MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. AMBULATORY CARE CENTERS
9.4.1. Overview
9.4.2. Ambulatory Care Centers Market Forecast and Analysis
9.5. DIAGNOSTIC IMAGING CENTERS
9.5.1. Overview
9.5.2. Diagnostic Imaging Centers Market Forecast and Analysis
9.6. OTHER END USERS
9.6.1. Overview
9.6.2. Other End Users Market Forecast and Analysis
10. REFURBISHED MEDICAL DEVICE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Refurbished Medical Device Market Overview
10.1.2 North America Refurbished Medical Device Market Forecasts and Analysis
10.1.3 North America Refurbished Medical Device Market Forecasts and Analysis - By Product
10.1.4 North America Refurbished Medical Device Market Forecasts and Analysis - By Application
10.1.5 North America Refurbished Medical Device Market Forecasts and Analysis - By End User
10.1.6 North America Refurbished Medical Device Market Forecasts and Analysis - By Countries
10.1.6.1 United States Refurbished Medical Device Market
10.1.6.1.1 United States Refurbished Medical Device Market by Product
10.1.6.1.2 United States Refurbished Medical Device Market by Application
10.1.6.1.3 United States Refurbished Medical Device Market by End User
10.1.6.2 Canada Refurbished Medical Device Market
10.1.6.2.1 Canada Refurbished Medical Device Market by Product
10.1.6.2.2 Canada Refurbished Medical Device Market by Application
10.1.6.2.3 Canada Refurbished Medical Device Market by End User
10.1.6.3 Mexico Refurbished Medical Device Market
10.1.6.3.1 Mexico Refurbished Medical Device Market by Product
10.1.6.3.2 Mexico Refurbished Medical Device Market by Application
10.1.6.3.3 Mexico Refurbished Medical Device Market by End User
10.2. EUROPE
10.2.1 Europe Refurbished Medical Device Market Overview
10.2.2 Europe Refurbished Medical Device Market Forecasts and Analysis
10.2.3 Europe Refurbished Medical Device Market Forecasts and Analysis - By Product
10.2.4 Europe Refurbished Medical Device Market Forecasts and Analysis - By Application
10.2.5 Europe Refurbished Medical Device Market Forecasts and Analysis - By End User
10.2.6 Europe Refurbished Medical Device Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Refurbished Medical Device Market
10.2.6.1.1 Germany Refurbished Medical Device Market by Product
10.2.6.1.2 Germany Refurbished Medical Device Market by Application
10.2.6.1.3 Germany Refurbished Medical Device Market by End User
10.2.6.2 France Refurbished Medical Device Market
10.2.6.2.1 France Refurbished Medical Device Market by Product
10.2.6.2.2 France Refurbished Medical Device Market by Application
10.2.6.2.3 France Refurbished Medical Device Market by End User
10.2.6.3 Italy Refurbished Medical Device Market
10.2.6.3.1 Italy Refurbished Medical Device Market by Product
10.2.6.3.2 Italy Refurbished Medical Device Market by Application
10.2.6.3.3 Italy Refurbished Medical Device Market by End User
10.2.6.4 Spain Refurbished Medical Device Market
10.2.6.4.1 Spain Refurbished Medical Device Market by Product
10.2.6.4.2 Spain Refurbished Medical Device Market by Application
10.2.6.4.3 Spain Refurbished Medical Device Market by End User
10.2.6.5 United Kingdom Refurbished Medical Device Market
10.2.6.5.1 United Kingdom Refurbished Medical Device Market by Product
10.2.6.5.2 United Kingdom Refurbished Medical Device Market by Application
10.2.6.5.3 United Kingdom Refurbished Medical Device Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Refurbished Medical Device Market Overview
10.3.2 Asia-Pacific Refurbished Medical Device Market Forecasts and Analysis
10.3.3 Asia-Pacific Refurbished Medical Device Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Refurbished Medical Device Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Refurbished Medical Device Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Refurbished Medical Device Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Refurbished Medical Device Market
10.3.6.1.1 Australia Refurbished Medical Device Market by Product
10.3.6.1.2 Australia Refurbished Medical Device Market by Application
10.3.6.1.3 Australia Refurbished Medical Device Market by End User
10.3.6.2 China Refurbished Medical Device Market
10.3.6.2.1 China Refurbished Medical Device Market by Product
10.3.6.2.2 China Refurbished Medical Device Market by Application
10.3.6.2.3 China Refurbished Medical Device Market by End User
10.3.6.3 India Refurbished Medical Device Market
10.3.6.3.1 India Refurbished Medical Device Market by Product
10.3.6.3.2 India Refurbished Medical Device Market by Application
10.3.6.3.3 India Refurbished Medical Device Market by End User
10.3.6.4 Japan Refurbished Medical Device Market
10.3.6.4.1 Japan Refurbished Medical Device Market by Product
10.3.6.4.2 Japan Refurbished Medical Device Market by Application
10.3.6.4.3 Japan Refurbished Medical Device Market by End User
10.3.6.5 South Korea Refurbished Medical Device Market
10.3.6.5.1 South Korea Refurbished Medical Device Market by Product
10.3.6.5.2 South Korea Refurbished Medical Device Market by Application
10.3.6.5.3 South Korea Refurbished Medical Device Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Refurbished Medical Device Market Overview
10.4.2 Middle East and Africa Refurbished Medical Device Market Forecasts and Analysis
10.4.3 Middle East and Africa Refurbished Medical Device Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Refurbished Medical Device Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Refurbished Medical Device Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Refurbished Medical Device Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Refurbished Medical Device Market
10.4.6.1.1 South Africa Refurbished Medical Device Market by Product
10.4.6.1.2 South Africa Refurbished Medical Device Market by Application
10.4.6.1.3 South Africa Refurbished Medical Device Market by End User
10.4.6.2 Saudi Arabia Refurbished Medical Device Market
10.4.6.2.1 Saudi Arabia Refurbished Medical Device Market by Product
10.4.6.2.2 Saudi Arabia Refurbished Medical Device Market by Application
10.4.6.2.3 Saudi Arabia Refurbished Medical Device Market by End User
10.4.6.3 U.A.E Refurbished Medical Device Market
10.4.6.3.1 U.A.E Refurbished Medical Device Market by Product
10.4.6.3.2 U.A.E Refurbished Medical Device Market by Application
10.4.6.3.3 U.A.E Refurbished Medical Device Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Refurbished Medical Device Market Overview
10.5.2 South and Central America Refurbished Medical Device Market Forecasts and Analysis
10.5.3 South and Central America Refurbished Medical Device Market Forecasts and Analysis - By Product
10.5.4 South and Central America Refurbished Medical Device Market Forecasts and Analysis - By Application
10.5.5 South and Central America Refurbished Medical Device Market Forecasts and Analysis - By End User
10.5.6 South and Central America Refurbished Medical Device Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Refurbished Medical Device Market
10.5.6.1.1 Brazil Refurbished Medical Device Market by Product
10.5.6.1.2 Brazil Refurbished Medical Device Market by Application
10.5.6.1.3 Brazil Refurbished Medical Device Market by End User
10.5.6.2 Argentina Refurbished Medical Device Market
10.5.6.2.1 Argentina Refurbished Medical Device Market by Product
10.5.6.2.2 Argentina Refurbished Medical Device Market by Application
10.5.6.2.3 Argentina Refurbished Medical Device Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL REFURBISHED MEDICAL DEVICE 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. REFURBISHED MEDICAL DEVICE MARKET, KEY COMPANY PROFILES
13.1. GE HEALTHCARE
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. SIEMENS HEALTHINEERS
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. KONINKLIJKE PHILIPS N.V.
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. BLOCK IMAGING
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. SOMA TECH INTL
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. US MED-EQUIP
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. AVANTE HEALTH SOLUTIONS
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. EVERX PVT LTD.
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. INTEGRITY MEDICAL SYSTEMS, INC.
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. RADIOLOGY ONCOLOGY SYSTEMS, INC
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. GE Healthcare
2. Siemens Healthineers
3. Koninklijke Philips N.V.
4. Block Imaging
5. SOMA TECH INTL
6. US Med-Equip
7. Avante Health Solutions
8. Everx Pvt Ltd.
9. Integrity Medical Systems, Inc.
10. Radiology Oncology Systems, 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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