The Surgical Tourniquets Market is expected to register a CAGR of 7.8% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Tourniquet Systems, Tourniquet Cuffs, Tourniquet Accessories). Further, the report is segmented on the basis Application (Lower-Limb Surgery, Upper-Limb Surgery). Also, the report is segmented based on End User (Hospitals and Trauma Centers, Ambulatory Surgery Centers, Others). 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 Surgical Tourniquets 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.
Surgical Tourniquets Market Segmentation
Type- Tourniquet Systems
- Tourniquet Cuffs
- Tourniquet Accessories
- Lower-Limb Surgery
- Upper-Limb Surgery
- Hospitals and Trauma Centers
- Ambulatory Surgery Centers
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Surgical Tourniquets Market Growth Drivers- Occurrence of surgical procedures: Expanding the scope of surgery across all medical specialties is the driving force behind the demand for surgical tourniquets. This includes orthopedic surgery, trauma, and vascular surgery. All of which require effective hemostatic solutions to prevent bleeding and achieve good surgical results. The strap ensures this result. Encourage healthcare facilities to invest in more advanced tourniquet systems.
- Current innovations in harness technology: The rise in surgical tourniquet technology is considered to be an important part of the market growth. The latest model comes with superior materials. digital inspection and easy-to-use detection It allows for better and more detailed control of blood flow. Because these innovations make patient care safer and more comfortable. Healthcare providers therefore need current solutions that are comparable to best practices in surgical care.
- High consciousness of patient safety: Increasing awareness regarding patient safety and paramount importance of effective bleeding control are driving the surgical tourniquet market. Healthcare organizations are more focused than ever on safety and risk management protocols. In this environment The need for a reliable safety harness system has become an essential requirement. They strive to minimize surgical complications. These factors have greatly increased the demand for high quality and effective tourniquet solutions in the operating room.
- Change to automatic: One of the modern trends within surgical tourniquets is automation. The new tools have digital commands and live monitoring. These offer increased accuracy and safety rates during surgery. There is less scope for human errors and greater workflow efficiency with automation. Therefore, it becomes even more luring for these doctors that are looking for reliable and effective solutions for bleeding control in surgical settings.
- Training and education are emphasized: There is an increase in training and education on the surgical tourniquet. Healthcare organizations are making substantial investments into system-wide training programs to ensure that the surgical teams are sufficiently trained in the proper use and handling of tourniquet systems. This is more dramatic in demonstrating the applicability of correct use since it enhances outcomes and safety among the patients in undergoing surgery.
- Disposable tourniquets increase: Disposable hemostatic tourniquets continue to grow in market demand. This is partly due to infection control and the desire for convenience. The disposable alternatives do not facilitate any cross-contamination. and the disinfection process is improved in the operating room Because the hospital values cleanliness and efficiency. Manufacturers also responded by increasing the number of disposable tourniquets. This adds interest to the surgical environment.
- Expansion in developing areas: This is an area where companies can look forward to an enormous opportunity in developing regions. where health care infrastructure is fast improving When there are hospitals and surgery centers being set up The demand for effective surgical equipment also grows. Companies can ride this trend by pitching affordable and reliable tourniquet solutions designed to the specific needs of these markets. Driving both growth and access.
- Smart integration: Integration of smart technology into surgical tourniquets forms a possibility of opening the market. Smart devices which will automatically adjust pressure Integrating with systems tracking surgery Data analysis enhances the accuracy and safety in surgery. Innovative area and manufacturers attract healthcare providers searching for advanced solutions improving a patient outcome and efficiency in operation.
- Integration with surgical training programs: The growth opportunities in the surgical tourniquet market by way of collateral associations with the training programs for surgeons are tremendous. Partnering with educational institutions and health care organizations helps the manufacturer promote their products, provide hands-on training. It encourages an increase in the product's familiarity among the new surgeons but also promotes brand loyalty. Therefore, the growth in the market in the longer run rises with this adoption.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Surgical Tourniquets 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 Surgical Tourniquets 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
2021 to 2022- are the historic year, 2023 - base year, 2024 to 2031- are the forecast year
Asia Pacific region is the fastest growing in the market
North America region accounted for the accounted for the highest market share
Tourniquet Systems segment dominates from the product segment
Stryker and Zimmer Biomet accounted for major market shares in the year 2023
The Surgical Tourniquets Market is estimated to witness a CAGR of 7.8% 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 Surgical Tourniquets Market - By Type
1.3.2 Surgical Tourniquets Market - By Application
1.3.3 Surgical Tourniquets Market - By End User
1.3.4 Surgical Tourniquets Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SURGICAL TOURNIQUETS 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. SURGICAL TOURNIQUETS 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. SURGICAL TOURNIQUETS MARKET - GLOBAL MARKET ANALYSIS
6.1. SURGICAL TOURNIQUETS - GLOBAL MARKET OVERVIEW
6.2. SURGICAL TOURNIQUETS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SURGICAL TOURNIQUETS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. TOURNIQUET SYSTEMS
7.3.1. Overview
7.3.2. Tourniquet Systems Market Forecast and Analysis
7.4. TOURNIQUET CUFFS
7.4.1. Overview
7.4.2. Tourniquet Cuffs Market Forecast and Analysis
7.4.3. Pneumatic Tourniquet Cuffs Market
7.4.3.1. Overview
7.4.3.2. Pneumatic Tourniquet Cuffs Market Forecast and Analysis
7.4.4. Non-Pneumatic Tourniquet Cuffs Market
7.4.4.1. Overview
7.4.4.2. Non-Pneumatic Tourniquet Cuffs Market Forecast and Analysis
7.5. TOURNIQUET ACCESSORIES
7.5.1. Overview
7.5.2. Tourniquet Accessories Market Forecast and Analysis
8. SURGICAL TOURNIQUETS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. LOWER-LIMB SURGERY
8.3.1. Overview
8.3.2. Lower-Limb Surgery Market Forecast and Analysis
8.4. UPPER-LIMB SURGERY
8.4.1. Overview
8.4.2. Upper-Limb Surgery Market Forecast and Analysis
9. SURGICAL TOURNIQUETS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND TRAUMA CENTERS
9.3.1. Overview
9.3.2. Hospitals and Trauma Centers Market Forecast and Analysis
9.4. AMBULATORY SURGERY CENTERS
9.4.1. Overview
9.4.2. Ambulatory Surgery Centers Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. SURGICAL TOURNIQUETS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Surgical Tourniquets Market Overview
10.1.2 North America Surgical Tourniquets Market Forecasts and Analysis
10.1.3 North America Surgical Tourniquets Market Forecasts and Analysis - By Type
10.1.4 North America Surgical Tourniquets Market Forecasts and Analysis - By Application
10.1.5 North America Surgical Tourniquets Market Forecasts and Analysis - By End User
10.1.6 North America Surgical Tourniquets Market Forecasts and Analysis - By Countries
10.1.6.1 United States Surgical Tourniquets Market
10.1.6.1.1 United States Surgical Tourniquets Market by Type
10.1.6.1.2 United States Surgical Tourniquets Market by Application
10.1.6.1.3 United States Surgical Tourniquets Market by End User
10.1.6.2 Canada Surgical Tourniquets Market
10.1.6.2.1 Canada Surgical Tourniquets Market by Type
10.1.6.2.2 Canada Surgical Tourniquets Market by Application
10.1.6.2.3 Canada Surgical Tourniquets Market by End User
10.1.6.3 Mexico Surgical Tourniquets Market
10.1.6.3.1 Mexico Surgical Tourniquets Market by Type
10.1.6.3.2 Mexico Surgical Tourniquets Market by Application
10.1.6.3.3 Mexico Surgical Tourniquets Market by End User
10.2. EUROPE
10.2.1 Europe Surgical Tourniquets Market Overview
10.2.2 Europe Surgical Tourniquets Market Forecasts and Analysis
10.2.3 Europe Surgical Tourniquets Market Forecasts and Analysis - By Type
10.2.4 Europe Surgical Tourniquets Market Forecasts and Analysis - By Application
10.2.5 Europe Surgical Tourniquets Market Forecasts and Analysis - By End User
10.2.6 Europe Surgical Tourniquets Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Surgical Tourniquets Market
10.2.6.1.1 Germany Surgical Tourniquets Market by Type
10.2.6.1.2 Germany Surgical Tourniquets Market by Application
10.2.6.1.3 Germany Surgical Tourniquets Market by End User
10.2.6.2 France Surgical Tourniquets Market
10.2.6.2.1 France Surgical Tourniquets Market by Type
10.2.6.2.2 France Surgical Tourniquets Market by Application
10.2.6.2.3 France Surgical Tourniquets Market by End User
10.2.6.3 Italy Surgical Tourniquets Market
10.2.6.3.1 Italy Surgical Tourniquets Market by Type
10.2.6.3.2 Italy Surgical Tourniquets Market by Application
10.2.6.3.3 Italy Surgical Tourniquets Market by End User
10.2.6.4 Spain Surgical Tourniquets Market
10.2.6.4.1 Spain Surgical Tourniquets Market by Type
10.2.6.4.2 Spain Surgical Tourniquets Market by Application
10.2.6.4.3 Spain Surgical Tourniquets Market by End User
10.2.6.5 United Kingdom Surgical Tourniquets Market
10.2.6.5.1 United Kingdom Surgical Tourniquets Market by Type
10.2.6.5.2 United Kingdom Surgical Tourniquets Market by Application
10.2.6.5.3 United Kingdom Surgical Tourniquets Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Surgical Tourniquets Market Overview
10.3.2 Asia-Pacific Surgical Tourniquets Market Forecasts and Analysis
10.3.3 Asia-Pacific Surgical Tourniquets Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Surgical Tourniquets Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Surgical Tourniquets Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Surgical Tourniquets Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Surgical Tourniquets Market
10.3.6.1.1 Australia Surgical Tourniquets Market by Type
10.3.6.1.2 Australia Surgical Tourniquets Market by Application
10.3.6.1.3 Australia Surgical Tourniquets Market by End User
10.3.6.2 China Surgical Tourniquets Market
10.3.6.2.1 China Surgical Tourniquets Market by Type
10.3.6.2.2 China Surgical Tourniquets Market by Application
10.3.6.2.3 China Surgical Tourniquets Market by End User
10.3.6.3 India Surgical Tourniquets Market
10.3.6.3.1 India Surgical Tourniquets Market by Type
10.3.6.3.2 India Surgical Tourniquets Market by Application
10.3.6.3.3 India Surgical Tourniquets Market by End User
10.3.6.4 Japan Surgical Tourniquets Market
10.3.6.4.1 Japan Surgical Tourniquets Market by Type
10.3.6.4.2 Japan Surgical Tourniquets Market by Application
10.3.6.4.3 Japan Surgical Tourniquets Market by End User
10.3.6.5 South Korea Surgical Tourniquets Market
10.3.6.5.1 South Korea Surgical Tourniquets Market by Type
10.3.6.5.2 South Korea Surgical Tourniquets Market by Application
10.3.6.5.3 South Korea Surgical Tourniquets Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Surgical Tourniquets Market Overview
10.4.2 Middle East and Africa Surgical Tourniquets Market Forecasts and Analysis
10.4.3 Middle East and Africa Surgical Tourniquets Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Surgical Tourniquets Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Surgical Tourniquets Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Surgical Tourniquets Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Surgical Tourniquets Market
10.4.6.1.1 South Africa Surgical Tourniquets Market by Type
10.4.6.1.2 South Africa Surgical Tourniquets Market by Application
10.4.6.1.3 South Africa Surgical Tourniquets Market by End User
10.4.6.2 Saudi Arabia Surgical Tourniquets Market
10.4.6.2.1 Saudi Arabia Surgical Tourniquets Market by Type
10.4.6.2.2 Saudi Arabia Surgical Tourniquets Market by Application
10.4.6.2.3 Saudi Arabia Surgical Tourniquets Market by End User
10.4.6.3 U.A.E Surgical Tourniquets Market
10.4.6.3.1 U.A.E Surgical Tourniquets Market by Type
10.4.6.3.2 U.A.E Surgical Tourniquets Market by Application
10.4.6.3.3 U.A.E Surgical Tourniquets Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Surgical Tourniquets Market Overview
10.5.2 South and Central America Surgical Tourniquets Market Forecasts and Analysis
10.5.3 South and Central America Surgical Tourniquets Market Forecasts and Analysis - By Type
10.5.4 South and Central America Surgical Tourniquets Market Forecasts and Analysis - By Application
10.5.5 South and Central America Surgical Tourniquets Market Forecasts and Analysis - By End User
10.5.6 South and Central America Surgical Tourniquets Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Surgical Tourniquets Market
10.5.6.1.1 Brazil Surgical Tourniquets Market by Type
10.5.6.1.2 Brazil Surgical Tourniquets Market by Application
10.5.6.1.3 Brazil Surgical Tourniquets Market by End User
10.5.6.2 Argentina Surgical Tourniquets Market
10.5.6.2.1 Argentina Surgical Tourniquets Market by Type
10.5.6.2.2 Argentina Surgical Tourniquets Market by Application
10.5.6.2.3 Argentina Surgical Tourniquets 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. SURGICAL TOURNIQUETS MARKET, KEY COMPANY PROFILES
12.1. STRYKER
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. ZIMMER BIOMET
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. HAMMARPLAST MEDICAL
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. ULRICH MEDICAL
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. VBM MEDIZINTECHNIK
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. ANETICAID
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. DELFI MEDICAL INNOVATIONS
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. PYNG MEDICAL
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. OHK MEDICAL DEVICES
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. ZHANGJIAGANG HUAXIN MEDICAL EQUIPMENT FACTORY
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. Stryker2. Zimmer Biomet3. Hammarplast Medical4. Ulrich medical5. VBM Medizintechnik6. AneticAid7. Delfi Medical Innovations8. Pyng Medical9. OHK Medical Devices10. Zhangjiagang Huaxin Medical Equipment Factory
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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