Rehabilitation Equipment Market Share and Growth - 2031
The Rehabilitation Equipment Market is expected to register a CAGR of 7.2% from 2024 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Daily Living Aids, Mobility Equipment, Exercise Equipment, Body Support Devices), Application (Physiotherapy, Occupational Therapy). The report further presents analysis based on the End user (Hospitals and Clinics, Rehabilitation Centers, Home Care Settings, Physiotherapy Centers). 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 Rehabilitation Equipment 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.
Rehabilitation Equipment Market Segmentation
Type- Daily Living Aids
- Mobility Equipment
- Exercise Equipment
- Body Support Devices
- Physiotherapy
- Occupational Therapy
Strategic Insights
Rehabilitation Equipment Market Growth Drivers- Increased Prevalence of Chronic Diseases: Conditions such as arthritis, diabetes, and stroke among others are increasing. According to reports from WHO, chronic diseases are expected to rise by 17% by 2025 compared to the amount of 2010. More cases of chronic diseases necessitate improved rehabilitation options, which in turn calls for an increased demand for rehabilitation equipment. Demand for rehabilitation equipment will still increase because the world is graying. Based on the WHO, 2050; two billion people were estimated to be aged 60 years old and above, most of whom in the low- and middle-income countries. The demographic shift requires the need for rehabilitation equipment to recover better from injuries or chronic conditions among these seniors.
- Advancements in Technologies Rehabilitation Technologies: Advancements in technology, such as robotic therapy, virtual reality, and wearable devices, are transforming the rehabilitation equipment. New innovations offer better options for rehabilitation by being more efficient and effective in recovery time and increasing effectiveness in the recovery process. Robotic therapy machines are used to enable patients with spinal cord injuries to walk and regain their strengths. Virtual reality therapy is being used in the treatment of conditions such as post-traumatic stress disorder (PTSD) and anxiety disorders. All these technological advancements in the rehabilitation equipment enhance the demand and propel growth in the rehabilitation equipment market.
- Increased Demand for Home-Based Rehabilitation: Rehabilitation based at home has been one of the reasons cited to explain the rise in demand for portable and compact rehabilitation equipment. This is essentially based on factors such as increased demand from patients for home-based care, fewer readmissions into hospitals, and cost-effective models. Devices that are used with ease in the home environment, including walkers, canes, and exercise equipment, are classified as home-based rehabilitation equipment. The upsurge of interest among patients seeking alternatives with more convenient and cost-effective treatment options will lead to an increase in demand for home-based rehabilitation equipment
- Rise in Integration with EHRs: The future integration of rehabilitation equipment into the electronic health records (EHRs) will be an important concern. Better tracking of patient data and outcomes by providers improves areas that play a critical role in optimizing the rehabilitation program. EHRs will therefore be able to interface rehabilitation equipment with healthcare providers in such a way that the progress of patients is tracked, improvements identified, and treatment plans optimized accordingly. Moreover, it will improve patient safety by reducing errors and improving communication between healthcare providers.
- Increasing Number of Personalized Rehabilitation: The personalized Rehabilitation continues is expected remain key trend during the forecast period. This is tailored to individualized rehabilitation programs best suited to the needs and goals of the patient. Increased demand for customized rehabilitation equipment intended for specific requirements and needs of patients will serve as another driving force for this trend.
- Use of Artificial Intelligence in Rehabilitation: Rehabilitation is increasingly being done with artificial intelligence, and usage can be found in applications like AI-supported physical therapy systems and AI-driven rehabilitation exercises. Going forward, this usage will increase as technology advances.
- Increased application of Rehabilitation by Artificial Intelligence: AI has become one of the most popular in rehabilitation fields today. Rehabilitation is increasingly being improved with new applications, like AI-powered physical therapy systems and AI-driven rehabilitation exercises. The increasing trend will be seen with advanced AI technology over time.
- Expansion in Emerging Markets : The market for rehabilitation equipment worldwide is likely to grow enormously in Asian-Pacific and Latin American regions, driven by the increasing spending on health care and population growing with increasing demand for rehabilitation services.
- Developing New Rehabilitation Methods: Now, with new rehabilitation methods that include exoskeletons and prosthetics, massive growth opportunities will be unfolding in the rehabilitation equipment market. These technologies can further result in improved patient outcomes, and there will be an uptrend in demand for equipment.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rehabilitation Equipment 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 Rehabilitation Equipment 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.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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
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to country scope.
Frequently Asked Questions
The rehabilitation equipment market is estimated to grow with a CAGR of 7.2% from 2023 to 2031
Asia-Pacific region is likely to witness the fastest growth rate during the forecast period.
The market drivers include the increasing prevalence of chronic diseases and increased demand for home-based rehabilitation, which are driving the rehabilitation equipment market
The rehabilitation equipment market majorly consists of players such as Invacare Corporation, Medline Industries Inc., Dynatronics Corporation among others.
Use of artificial intelligence in rehabilitation is likely to remain the key trend during the forecast period.
North America dominated the rehabilitation equipment market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rehabilitation Equipment Market - By Type
1.3.2 Rehabilitation Equipment Market - By Application
1.3.3 Rehabilitation Equipment Market - By End user
1.3.4 Rehabilitation Equipment Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REHABILITATION EQUIPMENT 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. REHABILITATION EQUIPMENT 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. REHABILITATION EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. REHABILITATION EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. REHABILITATION EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. REHABILITATION EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DAILY LIVING AIDS
7.3.1. Overview
7.3.2. Daily Living Aids Market Forecast and Analysis
7.3.3. Medical Beds Market
7.3.3.1. Overview
7.3.3.2. Medical Beds Market Forecast and Analysis
7.3.4. Bathroom and Toilet Assist Devices Market
7.3.4.1. Overview
7.3.4.2. Bathroom and Toilet Assist Devices Market Forecast and Analysis
7.3.5. Reading Writing and Computing Aids Market
7.3.5.1. Overview
7.3.5.2. Reading Writing and Computing Aids Market Forecast and Analysis
7.4. MOBILITY EQUIPMENT
7.4.1. Overview
7.4.2. Mobility Equipment Market Forecast and Analysis
7.4.3. Wheelchairs and Scooters Market
7.4.3.1. Overview
7.4.3.2. Wheelchairs and Scooters Market Forecast and Analysis
7.4.4. Walking Assist Devices Market
7.4.4.1. Overview
7.4.4.2. Walking Assist Devices Market Forecast and Analysis
7.5. EXERCISE EQUIPMENT
7.5.1. Overview
7.5.2. Exercise Equipment Market Forecast and Analysis
7.5.3. Lower Body Exercise Equipment Market
7.5.3.1. Overview
7.5.3.2. Lower Body Exercise Equipment Market Forecast and Analysis
7.5.4. Upper Body Exercise Equipment Market
7.5.4.1. Overview
7.5.4.2. Upper Body Exercise Equipment Market Forecast and Analysis
7.5.5. Total Body Exercise Equipment Market
7.5.5.1. Overview
7.5.5.2. Total Body Exercise Equipment Market Forecast and Analysis
7.6. BODY SUPPORT DEVICES
7.6.1. Overview
7.6.2. Body Support Devices Market Forecast and Analysis
7.6.3. Patient Lifts Market
7.6.3.1. Overview
7.6.3.2. Patient Lifts Market Forecast and Analysis
7.6.4. Medical Lifting Slings Market
7.6.4.1. Overview
7.6.4.2. Medical Lifting Slings Market Forecast and Analysis
8. REHABILITATION EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PHYSIOTHERAPY
8.3.1. Overview
8.3.2. Physiotherapy Market Forecast and Analysis
8.4. OCCUPATIONAL THERAPY
8.4.1. Overview
8.4.2. Occupational Therapy Market Forecast and Analysis
9. REHABILITATION EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND CLINICS
9.3.1. Overview
9.3.2. Hospitals and Clinics Market Forecast and Analysis
9.4. REHABILITATION CENTERS
9.4.1. Overview
9.4.2. Rehabilitation Centers Market Forecast and Analysis
9.5. HOME CARE SETTINGS
9.5.1. Overview
9.5.2. Home Care Settings Market Forecast and Analysis
9.6. PHYSIOTHERAPY CENTERS
9.6.1. Overview
9.6.2. Physiotherapy Centers Market Forecast and Analysis
10. REHABILITATION EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Rehabilitation Equipment Market Overview
10.1.2 North America Rehabilitation Equipment Market Forecasts and Analysis
10.1.3 North America Rehabilitation Equipment Market Forecasts and Analysis - By Type
10.1.4 North America Rehabilitation Equipment Market Forecasts and Analysis - By Application
10.1.5 North America Rehabilitation Equipment Market Forecasts and Analysis - By End user
10.1.6 North America Rehabilitation Equipment Market Forecasts and Analysis - By Countries
10.1.6.1 United States Rehabilitation Equipment Market
10.1.6.1.1 United States Rehabilitation Equipment Market by Type
10.1.6.1.2 United States Rehabilitation Equipment Market by Application
10.1.6.1.3 United States Rehabilitation Equipment Market by End user
10.1.6.2 Canada Rehabilitation Equipment Market
10.1.6.2.1 Canada Rehabilitation Equipment Market by Type
10.1.6.2.2 Canada Rehabilitation Equipment Market by Application
10.1.6.2.3 Canada Rehabilitation Equipment Market by End user
10.1.6.3 Mexico Rehabilitation Equipment Market
10.1.6.3.1 Mexico Rehabilitation Equipment Market by Type
10.1.6.3.2 Mexico Rehabilitation Equipment Market by Application
10.1.6.3.3 Mexico Rehabilitation Equipment Market by End user
10.2. EUROPE
10.2.1 Europe Rehabilitation Equipment Market Overview
10.2.2 Europe Rehabilitation Equipment Market Forecasts and Analysis
10.2.3 Europe Rehabilitation Equipment Market Forecasts and Analysis - By Type
10.2.4 Europe Rehabilitation Equipment Market Forecasts and Analysis - By Application
10.2.5 Europe Rehabilitation Equipment Market Forecasts and Analysis - By End user
10.2.6 Europe Rehabilitation Equipment Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Rehabilitation Equipment Market
10.2.6.1.1 Germany Rehabilitation Equipment Market by Type
10.2.6.1.2 Germany Rehabilitation Equipment Market by Application
10.2.6.1.3 Germany Rehabilitation Equipment Market by End user
10.2.6.2 France Rehabilitation Equipment Market
10.2.6.2.1 France Rehabilitation Equipment Market by Type
10.2.6.2.2 France Rehabilitation Equipment Market by Application
10.2.6.2.3 France Rehabilitation Equipment Market by End user
10.2.6.3 Italy Rehabilitation Equipment Market
10.2.6.3.1 Italy Rehabilitation Equipment Market by Type
10.2.6.3.2 Italy Rehabilitation Equipment Market by Application
10.2.6.3.3 Italy Rehabilitation Equipment Market by End user
10.2.6.4 Spain Rehabilitation Equipment Market
10.2.6.4.1 Spain Rehabilitation Equipment Market by Type
10.2.6.4.2 Spain Rehabilitation Equipment Market by Application
10.2.6.4.3 Spain Rehabilitation Equipment Market by End user
10.2.6.5 United Kingdom Rehabilitation Equipment Market
10.2.6.5.1 United Kingdom Rehabilitation Equipment Market by Type
10.2.6.5.2 United Kingdom Rehabilitation Equipment Market by Application
10.2.6.5.3 United Kingdom Rehabilitation Equipment Market by End user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Rehabilitation Equipment Market Overview
10.3.2 Asia-Pacific Rehabilitation Equipment Market Forecasts and Analysis
10.3.3 Asia-Pacific Rehabilitation Equipment Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Rehabilitation Equipment Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Rehabilitation Equipment Market Forecasts and Analysis - By End user
10.3.6 Asia-Pacific Rehabilitation Equipment Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Rehabilitation Equipment Market
10.3.6.1.1 Australia Rehabilitation Equipment Market by Type
10.3.6.1.2 Australia Rehabilitation Equipment Market by Application
10.3.6.1.3 Australia Rehabilitation Equipment Market by End user
10.3.6.2 China Rehabilitation Equipment Market
10.3.6.2.1 China Rehabilitation Equipment Market by Type
10.3.6.2.2 China Rehabilitation Equipment Market by Application
10.3.6.2.3 China Rehabilitation Equipment Market by End user
10.3.6.3 India Rehabilitation Equipment Market
10.3.6.3.1 India Rehabilitation Equipment Market by Type
10.3.6.3.2 India Rehabilitation Equipment Market by Application
10.3.6.3.3 India Rehabilitation Equipment Market by End user
10.3.6.4 Japan Rehabilitation Equipment Market
10.3.6.4.1 Japan Rehabilitation Equipment Market by Type
10.3.6.4.2 Japan Rehabilitation Equipment Market by Application
10.3.6.4.3 Japan Rehabilitation Equipment Market by End user
10.3.6.5 South Korea Rehabilitation Equipment Market
10.3.6.5.1 South Korea Rehabilitation Equipment Market by Type
10.3.6.5.2 South Korea Rehabilitation Equipment Market by Application
10.3.6.5.3 South Korea Rehabilitation Equipment Market by End user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Rehabilitation Equipment Market Overview
10.4.2 Middle East and Africa Rehabilitation Equipment Market Forecasts and Analysis
10.4.3 Middle East and Africa Rehabilitation Equipment Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Rehabilitation Equipment Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Rehabilitation Equipment Market Forecasts and Analysis - By End user
10.4.6 Middle East and Africa Rehabilitation Equipment Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Rehabilitation Equipment Market
10.4.6.1.1 South Africa Rehabilitation Equipment Market by Type
10.4.6.1.2 South Africa Rehabilitation Equipment Market by Application
10.4.6.1.3 South Africa Rehabilitation Equipment Market by End user
10.4.6.2 Saudi Arabia Rehabilitation Equipment Market
10.4.6.2.1 Saudi Arabia Rehabilitation Equipment Market by Type
10.4.6.2.2 Saudi Arabia Rehabilitation Equipment Market by Application
10.4.6.2.3 Saudi Arabia Rehabilitation Equipment Market by End user
10.4.6.3 U.A.E Rehabilitation Equipment Market
10.4.6.3.1 U.A.E Rehabilitation Equipment Market by Type
10.4.6.3.2 U.A.E Rehabilitation Equipment Market by Application
10.4.6.3.3 U.A.E Rehabilitation Equipment Market by End user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Rehabilitation Equipment Market Overview
10.5.2 South and Central America Rehabilitation Equipment Market Forecasts and Analysis
10.5.3 South and Central America Rehabilitation Equipment Market Forecasts and Analysis - By Type
10.5.4 South and Central America Rehabilitation Equipment Market Forecasts and Analysis - By Application
10.5.5 South and Central America Rehabilitation Equipment Market Forecasts and Analysis - By End user
10.5.6 South and Central America Rehabilitation Equipment Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Rehabilitation Equipment Market
10.5.6.1.1 Brazil Rehabilitation Equipment Market by Type
10.5.6.1.2 Brazil Rehabilitation Equipment Market by Application
10.5.6.1.3 Brazil Rehabilitation Equipment Market by End user
10.5.6.2 Argentina Rehabilitation Equipment Market
10.5.6.2.1 Argentina Rehabilitation Equipment Market by Type
10.5.6.2.2 Argentina Rehabilitation Equipment Market by Application
10.5.6.2.3 Argentina Rehabilitation Equipment Market by End user
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. REHABILITATION EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. INVACARE 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. MEDLINE INDUSTRIES INC.
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. DYNATRONICS CORPORATION
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. DRIVE DEVILBISS HEALTHCARE
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. CHANGZHOU QIAN JING REHABILITATION CO., LTD.
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. CAREX HEALTH BRANDS
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. ROMA MEDICAL
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. CAREMAX REHABILITATION EQUIPMENT CO. LTD.
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. GF HEALTH PRODUCTS, INC.
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. HOSPITAL EQUIPMENT MANUFACTURING COMPANY
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. Invacare Corporation2. Medline Industries Inc.3. Dynatronics Corporation4. Drive DeVilbiss Healthcare5. Changzhou Qian Jing Rehabilitation Co., Ltd.6. Carex Health Brands7. Roma Medical 8. Caremax Rehabilitation Equipment Co. Ltd9. GF Health Products, Inc.10. Hospital Equipment Manufacturing Company
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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