Smart Insulin Pen Market Size & CAGR (2023-2031)
The Smart Insulin Pen Market is expected to register a CAGR of 12.1% 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 Smart Insulin Pen Market By Application (Type 1 Diabetes, Type 2 Diabetes); Connectivity Type (USB, Bluetooth); Distribution Channel (Retail Pharmacies, Hospitals Pharmacies, On-line Distribution); and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). 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 Smart Insulin Pen 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.
Smart Insulin Pen Market Segmentation
By Application- Type 1 Diabetes
- Type 2 Diabetes
- USB
- Bluetooth
- Retail Pharmacies
- Hospitals Pharmacies
- On-line Distribution
Strategic Insights
Smart Insulin Pen Market Growth Drivers- Automated Dosing: Insulin dosages are automatically recorded via smart insulin pens, doing away with the necessity for human logging. This feature assists patients in keeping precise records of the insulin they administer, which is essential for managing their diabetes effectively. Such a factor has aided the overall growth of the market.
- Prevalence of Type 1 Diabetes: Approximately 8.4 million persons worldwide had type 1 diabetes as of 2021, with 1.5 million of those people being under 20. The prevalence is predicted to increase dramatically, with forecasts showing that the number could rise to between 13.5 and 17.4 million by 2040, primarily in low-income and lower-middle-income nations
- Prevalence of Type 1 Diabetes in India and the United States: According to recent studies, around 4 out of 1000 kids and 5 out of 1000 adults have type 1 diabetes. An estimated 304,000 children and adolescents under the age of 20 in the United States have been diagnosed with diabetes, with type 1 accounting for a sizable number of cases.There is regional variation in the prevalence of T1D; estimates suggest that there are approximately 3 new cases per 100,000 children aged 0-14 years. There are greater rates in other places; in Karnataka, for example, there are 17.93 instances per 100,000 children.
- Data Point Integration: Numerous parameters, such as blood glucose levels, insulin dosages, carbohydrate intake, and physical activity levels, amongst others can be recorded and analyzed using smart pens. This thorough data collecting makes it possible for medical professionals to more efficiently customize treatment regimens.
- Data Tracking: Smart pens provide retroactive analysis during medical visits by keeping a digital diary of insulin administration over time. This enables more informed discussions about medication modifications.Patients can better control their diabetes with the help of the accompanying apps, which are made to be user-friendly even for those without a lot of medical background or training.
- User Friendly Applications: Users can track their insulin doses, check their blood glucose levels, and get reminders for forthcoming doses with the associated smartphone apps. Through the provision of a digital logbook for convenient access to past data, this connection improves user experience.
- New InPen Launch: insulin pen which can pertain to the application in a smart mobile app. This brings in freshness for the end user in the empowerment of diabetes. All end-user doses can now be easily managed, and boluses amounts calculated, and reminders can be set for timely injections. One can also share real-time data with healthcare providers for an individualized sharing hence increasing overall effectiveness in the management of diabetes mellitus, especially among groups or class of patients who got very much experience with fast-acting insulins like Novolog and Humalog.
- New Temp Pen Product Launch: Eli Lilly's Tempo Pen is a standalone tool, but it interfaces with the Tempo Smart app to create a total insulin management system. Keep track of insulin doses; set reminder alarms; upload dosages into a continuous glucose monitoring system and voila. So it's also great for using insulins like Humalog and Basaglar. It also helps keep patients adhering to treatment and helps in smooth data flows between various systems helping in better diabetes management and user-optimized treatment plans.
- Advanced Bigfoot Unity System Launch: This is a smart insulin pen cap that fits alongside any pen for insulin delivery. Normally, it would make dosage calculations and link with a constant glucose monitor to produce diabetic patients completely equipped with solutions for managing the disease. Auto dosing along with an instant glucose reading is the winning combination, which is contributing the most to increasing the diabetes market, and this would perennially remain a sought-after aspect by end users.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Smart Insulin Pen 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 Smart Insulin Pen 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
This text is related
to country scope.
Frequently Asked Questions
Introduction of innovative smart insulin pen products by market participants
Less penetration in developing economies
North America region held the largest share in 2023
Automated Dosing
Asia Pacific region is expected to witness the highest growth during the forecast period
The Smart Insulin Pen Market is estimated to witness a CAGR of 12.1% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Smart Insulin Pen Market - By Application
1.3.2 Smart Insulin Pen Market - By Connectivity Type
1.3.3 Smart Insulin Pen Market - By Distribution Channel
1.3.4 Smart Insulin Pen Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SMART INSULIN PEN 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. SMART INSULIN PEN 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. SMART INSULIN PEN MARKET - GLOBAL MARKET ANALYSIS
6.1. SMART INSULIN PEN - GLOBAL MARKET OVERVIEW
6.2. SMART INSULIN PEN - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SMART INSULIN PEN MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. TYPE 1 DIABETES
7.3.1. Overview
7.3.2. Type 1 Diabetes Market Forecast and Analysis
7.4. TYPE 2 DIABETES
7.4.1. Overview
7.4.2. Type 2 Diabetes Market Forecast and Analysis
8. SMART INSULIN PEN MARKET - REVENUE AND FORECASTS TO 2028 - CONNECTIVITY TYPE
8.1. OVERVIEW
8.2. CONNECTIVITY TYPE MARKET FORECASTS AND ANALYSIS
8.3. USB
8.3.1. Overview
8.3.2. USB Market Forecast and Analysis
8.4. BLUETOOTH
8.4.1. Overview
8.4.2. Bluetooth Market Forecast and Analysis
9. SMART INSULIN PEN MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. RETAIL PHARMACIES
9.3.1. Overview
9.3.2. Retail Pharmacies Market Forecast and Analysis
9.4. HOSPITALS PHARMACIES
9.4.1. Overview
9.4.2. Hospitals Pharmacies Market Forecast and Analysis
9.5. ON-LINE DISTRIBUTION
9.5.1. Overview
9.5.2. On-line Distribution Market Forecast and Analysis
10. SMART INSULIN PEN MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Smart Insulin Pen Market Overview
10.1.2 North America Smart Insulin Pen Market Forecasts and Analysis
10.1.3 North America Smart Insulin Pen Market Forecasts and Analysis - By Application
10.1.4 North America Smart Insulin Pen Market Forecasts and Analysis - By Connectivity Type
10.1.5 North America Smart Insulin Pen Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Smart Insulin Pen Market Forecasts and Analysis - By Countries
10.1.6.1 United States Smart Insulin Pen Market
10.1.6.1.1 United States Smart Insulin Pen Market by Application
10.1.6.1.2 United States Smart Insulin Pen Market by Connectivity Type
10.1.6.1.3 United States Smart Insulin Pen Market by Distribution Channel
10.1.6.2 Canada Smart Insulin Pen Market
10.1.6.2.1 Canada Smart Insulin Pen Market by Application
10.1.6.2.2 Canada Smart Insulin Pen Market by Connectivity Type
10.1.6.2.3 Canada Smart Insulin Pen Market by Distribution Channel
10.1.6.3 Mexico Smart Insulin Pen Market
10.1.6.3.1 Mexico Smart Insulin Pen Market by Application
10.1.6.3.2 Mexico Smart Insulin Pen Market by Connectivity Type
10.1.6.3.3 Mexico Smart Insulin Pen Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Smart Insulin Pen Market Overview
10.2.2 Europe Smart Insulin Pen Market Forecasts and Analysis
10.2.3 Europe Smart Insulin Pen Market Forecasts and Analysis - By Application
10.2.4 Europe Smart Insulin Pen Market Forecasts and Analysis - By Connectivity Type
10.2.5 Europe Smart Insulin Pen Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Smart Insulin Pen Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Smart Insulin Pen Market
10.2.6.1.1 Germany Smart Insulin Pen Market by Application
10.2.6.1.2 Germany Smart Insulin Pen Market by Connectivity Type
10.2.6.1.3 Germany Smart Insulin Pen Market by Distribution Channel
10.2.6.2 France Smart Insulin Pen Market
10.2.6.2.1 France Smart Insulin Pen Market by Application
10.2.6.2.2 France Smart Insulin Pen Market by Connectivity Type
10.2.6.2.3 France Smart Insulin Pen Market by Distribution Channel
10.2.6.3 Italy Smart Insulin Pen Market
10.2.6.3.1 Italy Smart Insulin Pen Market by Application
10.2.6.3.2 Italy Smart Insulin Pen Market by Connectivity Type
10.2.6.3.3 Italy Smart Insulin Pen Market by Distribution Channel
10.2.6.4 Spain Smart Insulin Pen Market
10.2.6.4.1 Spain Smart Insulin Pen Market by Application
10.2.6.4.2 Spain Smart Insulin Pen Market by Connectivity Type
10.2.6.4.3 Spain Smart Insulin Pen Market by Distribution Channel
10.2.6.5 United Kingdom Smart Insulin Pen Market
10.2.6.5.1 United Kingdom Smart Insulin Pen Market by Application
10.2.6.5.2 United Kingdom Smart Insulin Pen Market by Connectivity Type
10.2.6.5.3 United Kingdom Smart Insulin Pen Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Smart Insulin Pen Market Overview
10.3.2 Asia-Pacific Smart Insulin Pen Market Forecasts and Analysis
10.3.3 Asia-Pacific Smart Insulin Pen Market Forecasts and Analysis - By Application
10.3.4 Asia-Pacific Smart Insulin Pen Market Forecasts and Analysis - By Connectivity Type
10.3.5 Asia-Pacific Smart Insulin Pen Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Smart Insulin Pen Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Smart Insulin Pen Market
10.3.6.1.1 Australia Smart Insulin Pen Market by Application
10.3.6.1.2 Australia Smart Insulin Pen Market by Connectivity Type
10.3.6.1.3 Australia Smart Insulin Pen Market by Distribution Channel
10.3.6.2 China Smart Insulin Pen Market
10.3.6.2.1 China Smart Insulin Pen Market by Application
10.3.6.2.2 China Smart Insulin Pen Market by Connectivity Type
10.3.6.2.3 China Smart Insulin Pen Market by Distribution Channel
10.3.6.3 India Smart Insulin Pen Market
10.3.6.3.1 India Smart Insulin Pen Market by Application
10.3.6.3.2 India Smart Insulin Pen Market by Connectivity Type
10.3.6.3.3 India Smart Insulin Pen Market by Distribution Channel
10.3.6.4 Japan Smart Insulin Pen Market
10.3.6.4.1 Japan Smart Insulin Pen Market by Application
10.3.6.4.2 Japan Smart Insulin Pen Market by Connectivity Type
10.3.6.4.3 Japan Smart Insulin Pen Market by Distribution Channel
10.3.6.5 South Korea Smart Insulin Pen Market
10.3.6.5.1 South Korea Smart Insulin Pen Market by Application
10.3.6.5.2 South Korea Smart Insulin Pen Market by Connectivity Type
10.3.6.5.3 South Korea Smart Insulin Pen Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Smart Insulin Pen Market Overview
10.4.2 Middle East and Africa Smart Insulin Pen Market Forecasts and Analysis
10.4.3 Middle East and Africa Smart Insulin Pen Market Forecasts and Analysis - By Application
10.4.4 Middle East and Africa Smart Insulin Pen Market Forecasts and Analysis - By Connectivity Type
10.4.5 Middle East and Africa Smart Insulin Pen Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Smart Insulin Pen Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Smart Insulin Pen Market
10.4.6.1.1 South Africa Smart Insulin Pen Market by Application
10.4.6.1.2 South Africa Smart Insulin Pen Market by Connectivity Type
10.4.6.1.3 South Africa Smart Insulin Pen Market by Distribution Channel
10.4.6.2 Saudi Arabia Smart Insulin Pen Market
10.4.6.2.1 Saudi Arabia Smart Insulin Pen Market by Application
10.4.6.2.2 Saudi Arabia Smart Insulin Pen Market by Connectivity Type
10.4.6.2.3 Saudi Arabia Smart Insulin Pen Market by Distribution Channel
10.4.6.3 U.A.E Smart Insulin Pen Market
10.4.6.3.1 U.A.E Smart Insulin Pen Market by Application
10.4.6.3.2 U.A.E Smart Insulin Pen Market by Connectivity Type
10.4.6.3.3 U.A.E Smart Insulin Pen Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Smart Insulin Pen Market Overview
10.5.2 South and Central America Smart Insulin Pen Market Forecasts and Analysis
10.5.3 South and Central America Smart Insulin Pen Market Forecasts and Analysis - By Application
10.5.4 South and Central America Smart Insulin Pen Market Forecasts and Analysis - By Connectivity Type
10.5.5 South and Central America Smart Insulin Pen Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Smart Insulin Pen Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Smart Insulin Pen Market
10.5.6.1.1 Brazil Smart Insulin Pen Market by Application
10.5.6.1.2 Brazil Smart Insulin Pen Market by Connectivity Type
10.5.6.1.3 Brazil Smart Insulin Pen Market by Distribution Channel
10.5.6.2 Argentina Smart Insulin Pen Market
10.5.6.2.1 Argentina Smart Insulin Pen Market by Application
10.5.6.2.2 Argentina Smart Insulin Pen Market by Connectivity Type
10.5.6.2.3 Argentina Smart Insulin Pen Market by Distribution Channel
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. SMART INSULIN PEN MARKET, KEY COMPANY PROFILES
12.1. COMPANION MEDICAL
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. NOVO NOVARDISK A/S
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. EMPERRA GMBH E-HEALTH TECHNOLOGIES
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. DIABNEXT
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. JIANGSU DELFU MEDICAL DEVICE 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. BERLIN-CHEMIE AG
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. DIAMESCO CO., LTD.
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. BIG FOOT BIOMEDICAL INC.
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Companion Medical2. Novo Novardisk A/S3. Emperra GmbH E-Health Technologies4. Diabnext5. Jiangsu Delfu Medical Device Co.,Ltd6. BERLIN-CHEMIE AG7. DIAMESCO CO., Ltd.8. Big Foot Biomedical 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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