Urology Surgical Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Urology surgical procedure are performed for obstructions, dysfunction, malignancies, and inflammatory diseases occurring in the urogenital and gynecological organs. Endovision systems, peripheral instruments, endoscopes, and consumables and accessories among others are some of the key instruments used in a urology surgical procedure. Key urology surgery involves kidney surgery, kidney removal (nephrectomy), pelvic lymph node dissection, urethra surgery, bladder surgery, prostatic surgery, and surgery to the penis among other.
MARKET SCOPE
The "Global Urology Surgical Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the urology surgical market with detailed market segmentation by product, application, and geography. The report provides key statistics on the market status of the leading urology surgical market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product, the global urology surgical market is segmented into endovision systems, peripheral instruments, endoscopes, consumables & accessories, and others
- Based on application, the market is bifurcated into benign prostatic hyperplasia, chronic kidney diseases, oncology, and others
MARKET DYNAMICS
Drivers
- Increasing funds, grants, & investments by government globally for urology procedures
- Increase in prevalence of kidney diseases & urinary tract infections
- Rising geritric population
Restraints
- Lack of reimbursement for certain products and procedures are likely to hinder the growth of market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The urology surgical market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the 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 America after evaluating political, economic, social and technological factors affecting the urology surgical market in these regions.
IMPACT OF COVID-19 ON UROLOGY SURGICAL MARKET
Outbreak COVID-19 has slightly affected the growth of urology surgical market. The production of various medical devices are were put on hold, as companies shifted their focus on producing personal protective kits. On the other hand, the COVID-19 infections during first wave has affected kidney functions of infected people. Thus, diagnosis COVID-19 infected people has leveraged growth opportunities for the market players amid the pandemic. The pandemic has also enhanced the numbers of minimally invasive procedures that are likely to increase demand for endoscopic, laparoscopic devices that are used for urology. Thus, owing to the above-mentioned factors, the market is likely to have vital growth opportunities.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The urology surgical market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the 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 America after evaluating political, economic, social and technological factors affecting the urology surgical market in these regions.
IMPACT OF COVID-19 ON UROLOGY SURGICAL MARKET
Outbreak COVID-19 has slightly affected the growth of urology surgical market. The production of various medical devices are were put on hold, as companies shifted their focus on producing personal protective kits. On the other hand, the COVID-19 infections during first wave has affected kidney functions of infected people. Thus, diagnosis COVID-19 infected people has leveraged growth opportunities for the market players amid the pandemic. The pandemic has also enhanced the numbers of minimally invasive procedures that are likely to increase demand for endoscopic, laparoscopic devices that are used for urology. Thus, owing to the above-mentioned factors, the market is likely to have vital growth opportunities.
MARKET PLAYERS
The report covers key developments in the urology surgical 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 activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from urology surgical market are anticipated to lucrative growth opportunities in the future with the rising demand for urology surgical in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the urology surgical market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Richard Wolf GmbH
- Cook
- Medtronic
- Boston Scientific Corporation
- Olympus Corporation
- Teleflex Incorporated
- Coloplast Group
- Karl Storz GmbH & Co. Kg
- Conmed Corporation
- Stryker
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer 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 Urology Surgical Market - By Product
1.3.2 Urology Surgical Market - By Application
1.3.3 Urology Surgical Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. UROLOGY SURGICAL 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. UROLOGY SURGICAL 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. UROLOGY SURGICAL MARKET - GLOBAL MARKET ANALYSIS
6.1. UROLOGY SURGICAL - GLOBAL MARKET OVERVIEW
6.2. UROLOGY SURGICAL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. UROLOGY SURGICAL MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. ENDOVISION SYSTEMS
7.3.1. Overview
7.3.2. Endovision Systems Market Forecast and Analysis
7.3.3. Wireless Monitors and Displays Market
7.3.3.1. Overview
7.3.3.2. Wireless Monitors and Displays Market Forecast and Analysis
7.3.4. Endoscopic Light Sources Market
7.3.4.1. Overview
7.3.4.2. Endoscopic Light Sources Market Forecast and Analysis
7.3.5. Endoscopic Cameras Market
7.3.5.1. Overview
7.3.5.2. Endoscopic Cameras Market Forecast and Analysis
7.3.6. Other Endovision Systems Market
7.3.6.1. Overview
7.3.6.2. Other Endovision Systems Market Forecast and Analysis
7.4. PERIPHERAL INSTRUMENTS
7.4.1. Overview
7.4.2. Peripheral Instruments Market Forecast and Analysis
7.4.3. Endoscopy Fluid Management Systems Market
7.4.3.1. Overview
7.4.3.2. Endoscopy Fluid Management Systems Market Forecast and Analysis
7.4.4. Insufflators Market
7.4.4.1. Overview
7.4.4.2. Insufflators Market Forecast and Analysis
7.4.5. Other Peripheral Instruments Market
7.4.5.1. Overview
7.4.5.2. Other Peripheral Instruments Market Forecast and Analysis
7.5. ENDOSCOPES
7.5.1. Overview
7.5.2. Endoscopes Market Forecast and Analysis
7.5.3. Nephroscopes Market
7.5.3.1. Overview
7.5.3.2. Nephroscopes Market Forecast and Analysis
7.5.4. Resectoscopes Market
7.5.4.1. Overview
7.5.4.2. Resectoscopes Market Forecast and Analysis
7.5.5. Laparoscopes Market
7.5.5.1. Overview
7.5.5.2. Laparoscopes Market Forecast and Analysis
7.5.6. Cystoscopes Market
7.5.6.1. Overview
7.5.6.2. Cystoscopes Market Forecast and Analysis
7.5.7. Ureteroscopes Market
7.5.7.1. Overview
7.5.7.2. Ureteroscopes Market Forecast and Analysis
7.5.8. Other Endoscopes Market
7.5.8.1. Overview
7.5.8.2. Other Endoscopes Market Forecast and Analysis
7.6. CONSUMABLES AND ACCESSORIES
7.6.1. Overview
7.6.2. Consumables and Accessories Market Forecast and Analysis
7.6.3. Biopsy Devices Market
7.6.3.1. Overview
7.6.3.2. Biopsy Devices Market Forecast and Analysis
7.6.4. Catheters Market
7.6.4.1. Overview
7.6.4.2. Catheters Market Forecast and Analysis
7.6.5. Stents Market
7.6.5.1. Overview
7.6.5.2. Stents Market Forecast and Analysis
7.6.6. Guidewires Market
7.6.6.1. Overview
7.6.6.2. Guidewires Market Forecast and Analysis
7.6.7. Surgical Dissectors Market
7.6.7.1. Overview
7.6.7.2. Surgical Dissectors Market Forecast and Analysis
7.6.8. Stone Baskets/Retrieval Devices and Extractors Market
7.6.8.1. Overview
7.6.8.2. Stone Baskets/Retrieval Devices and Extractors Market Forecast and Analysis
7.6.9. Other Consumables and Accessories Market
7.6.9.1. Overview
7.6.9.2. Other Consumables and Accessories Market Forecast and Analysis
8. UROLOGY SURGICAL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BENIGN PROSTATIC HYPERPLASIA
8.3.1. Overview
8.3.2. Benign Prostatic Hyperplasia Market Forecast and Analysis
8.4. CHRONIC KIDNEY DISEASES
8.4.1. Overview
8.4.2. Chronic Kidney Diseases Market Forecast and Analysis
8.5. ONCOLOGY
8.5.1. Overview
8.5.2. Oncology Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. UROLOGY SURGICAL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Urology Surgical Market Overview
9.1.2 North America Urology Surgical Market Forecasts and Analysis
9.1.3 North America Urology Surgical Market Forecasts and Analysis - By Product
9.1.4 North America Urology Surgical Market Forecasts and Analysis - By Application
9.1.5 North America Urology Surgical Market Forecasts and Analysis - By Countries
9.1.5.1 United States Urology Surgical Market
9.1.5.1.1 United States Urology Surgical Market by Product
9.1.5.1.2 United States Urology Surgical Market by Application
9.1.5.2 Canada Urology Surgical Market
9.1.5.2.1 Canada Urology Surgical Market by Product
9.1.5.2.2 Canada Urology Surgical Market by Application
9.1.5.3 Mexico Urology Surgical Market
9.1.5.3.1 Mexico Urology Surgical Market by Product
9.1.5.3.2 Mexico Urology Surgical Market by Application
9.2. EUROPE
9.2.1 Europe Urology Surgical Market Overview
9.2.2 Europe Urology Surgical Market Forecasts and Analysis
9.2.3 Europe Urology Surgical Market Forecasts and Analysis - By Product
9.2.4 Europe Urology Surgical Market Forecasts and Analysis - By Application
9.2.5 Europe Urology Surgical Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Urology Surgical Market
9.2.5.1.1 Germany Urology Surgical Market by Product
9.2.5.1.2 Germany Urology Surgical Market by Application
9.2.5.2 France Urology Surgical Market
9.2.5.2.1 France Urology Surgical Market by Product
9.2.5.2.2 France Urology Surgical Market by Application
9.2.5.3 Italy Urology Surgical Market
9.2.5.3.1 Italy Urology Surgical Market by Product
9.2.5.3.2 Italy Urology Surgical Market by Application
9.2.5.4 Spain Urology Surgical Market
9.2.5.4.1 Spain Urology Surgical Market by Product
9.2.5.4.2 Spain Urology Surgical Market by Application
9.2.5.5 United Kingdom Urology Surgical Market
9.2.5.5.1 United Kingdom Urology Surgical Market by Product
9.2.5.5.2 United Kingdom Urology Surgical Market by Application
9.2.5.6 Rest of Europe Urology Surgical Market
9.2.5.6.1 Rest of Europe Urology Surgical Market by Product
9.2.5.6.2 Rest of Europe Urology Surgical Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Urology Surgical Market Overview
9.3.2 Asia-Pacific Urology Surgical Market Forecasts and Analysis
9.3.3 Asia-Pacific Urology Surgical Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Urology Surgical Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Urology Surgical Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Urology Surgical Market
9.3.5.1.1 Australia Urology Surgical Market by Product
9.3.5.1.2 Australia Urology Surgical Market by Application
9.3.5.2 China Urology Surgical Market
9.3.5.2.1 China Urology Surgical Market by Product
9.3.5.2.2 China Urology Surgical Market by Application
9.3.5.3 India Urology Surgical Market
9.3.5.3.1 India Urology Surgical Market by Product
9.3.5.3.2 India Urology Surgical Market by Application
9.3.5.4 Japan Urology Surgical Market
9.3.5.4.1 Japan Urology Surgical Market by Product
9.3.5.4.2 Japan Urology Surgical Market by Application
9.3.5.5 Rest of Asia-Pacific Urology Surgical Market
9.3.5.5.1 Rest of Asia-Pacific Urology Surgical Market by Product
9.3.5.5.2 Rest of Asia-Pacific Urology Surgical Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Urology Surgical Market Overview
9.4.2 Middle East and Africa Urology Surgical Market Forecasts and Analysis
9.4.3 Middle East and Africa Urology Surgical Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Urology Surgical Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Urology Surgical Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Urology Surgical Market
9.4.5.1.1 South Africa Urology Surgical Market by Product
9.4.5.1.2 South Africa Urology Surgical Market by Application
9.4.5.2 Saudi Arabia Urology Surgical Market
9.4.5.2.1 Saudi Arabia Urology Surgical Market by Product
9.4.5.2.2 Saudi Arabia Urology Surgical Market by Application
9.4.5.3 U.A.E Urology Surgical Market
9.4.5.3.1 U.A.E Urology Surgical Market by Product
9.4.5.3.2 U.A.E Urology Surgical Market by Application
9.4.5.4 Rest of Middle East and Africa Urology Surgical Market
9.4.5.4.1 Rest of Middle East and Africa Urology Surgical Market by Product
9.4.5.4.2 Rest of Middle East and Africa Urology Surgical Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Urology Surgical Market Overview
9.5.2 South and Central America Urology Surgical Market Forecasts and Analysis
9.5.3 South and Central America Urology Surgical Market Forecasts and Analysis - By Product
9.5.4 South and Central America Urology Surgical Market Forecasts and Analysis - By Application
9.5.5 South and Central America Urology Surgical Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Urology Surgical Market
9.5.5.1.1 Brazil Urology Surgical Market by Product
9.5.5.1.2 Brazil Urology Surgical Market by Application
9.5.5.2 Argentina Urology Surgical Market
9.5.5.2.1 Argentina Urology Surgical Market by Product
9.5.5.2.2 Argentina Urology Surgical Market by Application
9.5.5.3 Rest of South and Central America Urology Surgical Market
9.5.5.3.1 Rest of South and Central America Urology Surgical Market by Product
9.5.5.3.2 Rest of South and Central America Urology Surgical Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL UROLOGY SURGICAL MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. UROLOGY SURGICAL MARKET, KEY COMPANY PROFILES
12.1. RICHARD WOLF GMBH
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. COOK
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. MEDTRONIC
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. BOSTON SCIENTIFIC CORPORATION
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. OLYMPUS CORPORATION
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. TELEFLEX INCORPORATED
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. COLOPLAST GROUP
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. KARL STORZ GMBH AND CO. KG
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. CONMED CORPORATION
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. STRYKER
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. Richard Wolf GmbH
2. Cook
3. Medtronic
4. Boston Scientific Corporation
5. Olympus Corporation
6. Teleflex Incorporated
7. Coloplast Group
8. Karl Storz GmbH & Co. Kg
9. Conmed Corporation
10. Stryker
11. Coopersurgical, Inc.
12. Millennium Surgical Corp
13. OTU Medical
14. STERIS
15. biolitec AG
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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