Video Laryngoscopy Market Share and Growth (2021-2031)
The Video Laryngoscopy Market is expected to register a CAGR of 9.5% 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 Product (Reusable, Single-use). The report further presents analysis based on the Type (Integrated Display Models, Cart-based Models). The report is segmented by End-user (Hospitals, ENT Clinics, 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 Video Laryngoscopy 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.
Video Laryngoscopy Market Segmentation
Product- Reusable
- Single-use
- Integrated Display Models
- Cart-based Models
- Hospitals
- ENT Clinics
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Video Laryngoscopy Market Growth Drivers- Technological Advancement: Technological advancement is, however a strong driving force that will impact the video laryngoscopy market. Compared to direct laryngoscopy, the modern high definition video laryngoscope offers an enhanced lighting and camera, providing superior visualization when carrying out the procedure of direct laryngoscope. Such procedures are carried on by experts in their field such as ENT surgeons and anesthetists. Integrations that include wireless connectivity, superior image quality, and very light and portable designs only fuel the adoption of video laryngoscopes into clinical practice.
- Growing Demand for Minimally Invasive Procedures: The other growth factor for the video laryngoscopy market is the growing demand for minimally invasive medical procedures. Video laryngoscopy increases the precision and safety of procedures that involve airway management, like endotracheal intubation, which is an essential step in both emergency and elective surgeries. Video-assisted techniques have fewer risks of trauma, bleeding, and other complications compared to the conventional methods, thus an attractive option for both the practitioner and the patient.
- Higher Prevalence of Respiratory Diseases: A growing number of respiratory diseases, including COPD, asthma, and sleep apnea, is increasing the video laryngoscopy market because most of these conditions are managed by intubation and other airway management procedures. The enhanced visualization and control in video laryngoscopy benefit such airway management. In addition, COVID-19 has highlighted further the importance of effective airway management, and that video laryngoscopy has played a vital role in the safe intubation of patients in critical care units and emergency rooms.
- Integration with Artificial Intelligence: AI and machine learning are making way into the video laryngoscopy market, where further improvements can be in airway management. Using AI, the video laryngoscope helps to assess difficult airways and to give recommendations on real time alternative strategies. Using AI algorithm, video feeds may be inspected for anatomical features to allow clinicians to provide the safest and most efficient intubations. Video laryngoscopy devices combined with AI technology would probably be the dominant feature going into the future in the industry.
- Portable and Handheld Devices: The smaller video laryngoscopes and increasingly portable and hand held laryngoscopes in the market today trend that shows an increasing shift of making a device smaller in order to portability and usage. Manufacturers are working towards designing transportable video laryngoscopes and usability across various clinical settings. Whether in emergencies or out-in-the-field, it ensures this portability drives their uptake not only in established economies but also emerging nations.
- Telemedicine and Remote Assistance: Increasingly telemedicine has emerged as a hot-topic issue among healthcare providers and by association the synergy with video laryngoscopy is unlocking an increasing pool of potential consumers. Video laryngoscopes that enable distant view or guidance are coming into demand. It gives experienced professionals the ability to assist, in real-time, under-experienced clinicians during a procedure such as intubation in hard-to-access or remote/underserved areas. This application contributes to bridging gaps created in access by telemedicine.
- Expanding Applications in Veterinary Medicine: Video laryngoscopy is not a monopoly of human health care; it has opened a new vista in veterinary medicine. Veterinary surgeons increasingly have been using video laryngoscopes to handle their patients' airways during surgery. It is here that the animal airway gets complicated, and video laryngoscopy is safer and more efficient than any other method for intubation. As the demand for advanced veterinary care keeps building, there is substantial space for video laryngoscopy devices in the coming years.
- Untapped Markets in Emerging Economies: Emerging economies particularly in Asia-Pacific, Latin America, and Middle Eastern regions have vast growth potential from video laryngoscopy manufacturers. These regions have gained a lot of health infrastructural development, increased healthcare spending and rising chronic respiratory diseases in the recent past. As hospitals in such regions begin to embrace modern medical technologies, video laryngoscopy is ready to gain from increased demand. Additionally, cheaper, lightweight equipment will be suitable to meet the requirements of developing nations.
- Growing Demand in Pediatric ICU: Pediatric patients are more problematic to intubate than others because their airway is smaller and more delicate. Video laryngoscopes specifically designed for pediatric care are an emerging growth opportunity in the market. Children are being subjected to video laryngoscopes to visualize their airways clearly. Video laryngoscopes minimize chances of trauma by making intubation in children much safer and more effective. Because of that, it might probably have heightened awareness, bringing pediatrics and hospitals into increasing adoption of these devices.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Video Laryngoscopy 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 Video Laryngoscopy 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.
REGIONAL FRAMEWORK
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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
Single-use segment, by product, dominated the market in 2023.
Players operating in the market are Medtronic, Karl Storz, Ambu, Verathon, Marshall Products, Teleflex, Olympus Corporation, Richard Wolf, Medical Product International (MPI), Vyaire Medical, INC.
Expanding Applications in Veterinary Medicine act as a opportunity for growth of the market in forecast period.
North America region dominated the Video Laryngoscopy market in 2023.
The Video Laryngoscopy Market is estimated to witness a CAGR of 9.5% from 2023 to 2031
The major factors driving the Video Laryngoscopy market are:
1. Technological Advancement
2. Growing Demand for Minimally Invasive Procedures
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Video Laryngoscopy Market - By Product
1.3.2 Video Laryngoscopy Market - By Type
1.3.3 Video Laryngoscopy Market - By End-user
1.3.4 Video Laryngoscopy Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VIDEO LARYNGOSCOPY 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. VIDEO LARYNGOSCOPY 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. VIDEO LARYNGOSCOPY MARKET - GLOBAL MARKET ANALYSIS
6.1. VIDEO LARYNGOSCOPY - GLOBAL MARKET OVERVIEW
6.2. VIDEO LARYNGOSCOPY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. VIDEO LARYNGOSCOPY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. REUSABLE
7.3.1. Overview
7.3.2. Reusable Market Forecast and Analysis
7.4. SINGLE-USE
7.4.1. Overview
7.4.2. Single-use Market Forecast and Analysis
8. VIDEO LARYNGOSCOPY MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. INTEGRATED DISPLAY MODELS
8.3.1. Overview
8.3.2. Integrated Display Models Market Forecast and Analysis
8.4. CART-BASED MODELS
8.4.1. Overview
8.4.2. Cart-based Models Market Forecast and Analysis
9. VIDEO LARYNGOSCOPY MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. ENT CLINICS
9.4.1. Overview
9.4.2. ENT Clinics Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. VIDEO LARYNGOSCOPY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Video Laryngoscopy Market Overview
10.1.2 North America Video Laryngoscopy Market Forecasts and Analysis
10.1.3 North America Video Laryngoscopy Market Forecasts and Analysis - By Product
10.1.4 North America Video Laryngoscopy Market Forecasts and Analysis - By Type
10.1.5 North America Video Laryngoscopy Market Forecasts and Analysis - By End-user
10.1.6 North America Video Laryngoscopy Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Video Laryngoscopy Market
10.1.6.1.1 Canada Video Laryngoscopy Market by Product
10.1.6.1.2 Canada Video Laryngoscopy Market by Type
10.1.6.1.3 Canada Video Laryngoscopy Market by End-user
10.1.6.2 Mexico Video Laryngoscopy Market
10.1.6.2.1 Mexico Video Laryngoscopy Market by Product
10.1.6.2.2 Mexico Video Laryngoscopy Market by Type
10.1.6.2.3 Mexico Video Laryngoscopy Market by End-user
10.1.6.3 US Video Laryngoscopy Market
10.1.6.3.1 US Video Laryngoscopy Market by Product
10.1.6.3.2 US Video Laryngoscopy Market by Type
10.1.6.3.3 US Video Laryngoscopy Market by End-user
10.2. EUROPE
10.2.1 Europe Video Laryngoscopy Market Overview
10.2.2 Europe Video Laryngoscopy Market Forecasts and Analysis
10.2.3 Europe Video Laryngoscopy Market Forecasts and Analysis - By Product
10.2.4 Europe Video Laryngoscopy Market Forecasts and Analysis - By Type
10.2.5 Europe Video Laryngoscopy Market Forecasts and Analysis - By End-user
10.2.6 Europe Video Laryngoscopy Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Video Laryngoscopy Market
10.2.6.1.1 Germany Video Laryngoscopy Market by Product
10.2.6.1.2 Germany Video Laryngoscopy Market by Type
10.2.6.1.3 Germany Video Laryngoscopy Market by End-user
10.2.6.2 France Video Laryngoscopy Market
10.2.6.2.1 France Video Laryngoscopy Market by Product
10.2.6.2.2 France Video Laryngoscopy Market by Type
10.2.6.2.3 France Video Laryngoscopy Market by End-user
10.2.6.3 Italy Video Laryngoscopy Market
10.2.6.3.1 Italy Video Laryngoscopy Market by Product
10.2.6.3.2 Italy Video Laryngoscopy Market by Type
10.2.6.3.3 Italy Video Laryngoscopy Market by End-user
10.2.6.4 Spain Video Laryngoscopy Market
10.2.6.4.1 Spain Video Laryngoscopy Market by Product
10.2.6.4.2 Spain Video Laryngoscopy Market by Type
10.2.6.4.3 Spain Video Laryngoscopy Market by End-user
10.2.6.5 United Kingdom Video Laryngoscopy Market
10.2.6.5.1 United Kingdom Video Laryngoscopy Market by Product
10.2.6.5.2 United Kingdom Video Laryngoscopy Market by Type
10.2.6.5.3 United Kingdom Video Laryngoscopy Market by End-user
10.2.6.6 Rest of Europe Video Laryngoscopy Market
10.2.6.6.1 Rest of Europe Video Laryngoscopy Market by Product
10.2.6.6.2 Rest of Europe Video Laryngoscopy Market by Type
10.2.6.6.3 Rest of Europe Video Laryngoscopy Market by End-user
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Video Laryngoscopy Market Overview
10.3.2 Asia-Pacific Video Laryngoscopy Market Forecasts and Analysis
10.3.3 Asia-Pacific Video Laryngoscopy Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Video Laryngoscopy Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Video Laryngoscopy Market Forecasts and Analysis - By End-user
10.3.6 Asia-Pacific Video Laryngoscopy Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Video Laryngoscopy Market
10.3.6.1.1 Australia Video Laryngoscopy Market by Product
10.3.6.1.2 Australia Video Laryngoscopy Market by Type
10.3.6.1.3 Australia Video Laryngoscopy Market by End-user
10.3.6.2 China Video Laryngoscopy Market
10.3.6.2.1 China Video Laryngoscopy Market by Product
10.3.6.2.2 China Video Laryngoscopy Market by Type
10.3.6.2.3 China Video Laryngoscopy Market by End-user
10.3.6.3 India Video Laryngoscopy Market
10.3.6.3.1 India Video Laryngoscopy Market by Product
10.3.6.3.2 India Video Laryngoscopy Market by Type
10.3.6.3.3 India Video Laryngoscopy Market by End-user
10.3.6.4 Japan Video Laryngoscopy Market
10.3.6.4.1 Japan Video Laryngoscopy Market by Product
10.3.6.4.2 Japan Video Laryngoscopy Market by Type
10.3.6.4.3 Japan Video Laryngoscopy Market by End-user
10.3.6.5 South Korea Video Laryngoscopy Market
10.3.6.5.1 South Korea Video Laryngoscopy Market by Product
10.3.6.5.2 South Korea Video Laryngoscopy Market by Type
10.3.6.5.3 South Korea Video Laryngoscopy Market by End-user
10.3.6.6 Rest of Asia-Pacific Video Laryngoscopy Market
10.3.6.6.1 Rest of Asia-Pacific Video Laryngoscopy Market by Product
10.3.6.6.2 Rest of Asia-Pacific Video Laryngoscopy Market by Type
10.3.6.6.3 Rest of Asia-Pacific Video Laryngoscopy Market by End-user
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Video Laryngoscopy Market Overview
10.4.2 Middle East and Africa Video Laryngoscopy Market Forecasts and Analysis
10.4.3 Middle East and Africa Video Laryngoscopy Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Video Laryngoscopy Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Video Laryngoscopy Market Forecasts and Analysis - By End-user
10.4.6 Middle East and Africa Video Laryngoscopy Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Video Laryngoscopy Market
10.4.6.1.1 South Africa Video Laryngoscopy Market by Product
10.4.6.1.2 South Africa Video Laryngoscopy Market by Type
10.4.6.1.3 South Africa Video Laryngoscopy Market by End-user
10.4.6.2 Saudi Arabia Video Laryngoscopy Market
10.4.6.2.1 Saudi Arabia Video Laryngoscopy Market by Product
10.4.6.2.2 Saudi Arabia Video Laryngoscopy Market by Type
10.4.6.2.3 Saudi Arabia Video Laryngoscopy Market by End-user
10.4.6.3 U.A.E Video Laryngoscopy Market
10.4.6.3.1 U.A.E Video Laryngoscopy Market by Product
10.4.6.3.2 U.A.E Video Laryngoscopy Market by Type
10.4.6.3.3 U.A.E Video Laryngoscopy Market by End-user
10.4.6.4 Rest of Middle East and Africa Video Laryngoscopy Market
10.4.6.4.1 Rest of Middle East and Africa Video Laryngoscopy Market by Product
10.4.6.4.2 Rest of Middle East and Africa Video Laryngoscopy Market by Type
10.4.6.4.3 Rest of Middle East and Africa Video Laryngoscopy Market by End-user
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Video Laryngoscopy Market Overview
10.5.2 South and Central America Video Laryngoscopy Market Forecasts and Analysis
10.5.3 South and Central America Video Laryngoscopy Market Forecasts and Analysis - By Product
10.5.4 South and Central America Video Laryngoscopy Market Forecasts and Analysis - By Type
10.5.5 South and Central America Video Laryngoscopy Market Forecasts and Analysis - By End-user
10.5.6 South and Central America Video Laryngoscopy Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Video Laryngoscopy Market
10.5.6.1.1 Brazil Video Laryngoscopy Market by Product
10.5.6.1.2 Brazil Video Laryngoscopy Market by Type
10.5.6.1.3 Brazil Video Laryngoscopy Market by End-user
10.5.6.2 Argentina Video Laryngoscopy Market
10.5.6.2.1 Argentina Video Laryngoscopy Market by Product
10.5.6.2.2 Argentina Video Laryngoscopy Market by Type
10.5.6.2.3 Argentina Video Laryngoscopy Market by End-user
10.5.6.3 Rest of South and Central America Video Laryngoscopy Market
10.5.6.3.1 Rest of South and Central America Video Laryngoscopy Market by Product
10.5.6.3.2 Rest of South and Central America Video Laryngoscopy Market by Type
10.5.6.3.3 Rest of South and Central America Video Laryngoscopy 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. VIDEO LARYNGOSCOPY MARKET, KEY COMPANY PROFILES
12.1. MEDTRONIC
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. KARL STORZ
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. AMBU
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. VERATHON
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. MARSHALL PRODUCTS
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
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. OLYMPUS CORPORATION
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. RICHARD WOLF
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. MEDICAL PRODUCT INTERNATIONAL (MPI)
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. VYAIRE MEDICAL, INC.
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. Medtronic
2. Karl Storz
3. Ambu
4. Verathon
5. Marshall Products
6. Teleflex
7. Olympus Corporation
8. Richard Wolf
9. Medical Product International (MPI)
10. VYAIRE MEDICAL, 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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