The Absorbable Sutures Market is expected to register a CAGR of 5.50% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents an analysis based on product type (catgut, polymer chemistry, collagen suture, other product types) and based on application (cardiovascular surgeries, general surgeries, orthopedic surgeries, gynecological surgeries, ophthalmic surgeries, other applications). The report further provides analysis based on end user (hospitals, ambulatory surgical centers (ASCs), clinics and physician offices). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Absorbable Sutures 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.
Absorbable Sutures Market Segmentation
Product Type- Catgut
- Polymer Chemistry
- Collagen Suture
- Other Product Types
- Cardiovascular Surgeries
- General Surgeries
- Orthopedic Surgeries
- Gynecological Surgeries
- Ophthalmic Surgeries
- Other Applications
- Hospitals
- Ambulatory Surgical Centers
- Clinics and Physician Offices
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Absorbable Sutures Market Growth Drivers- Rising Number of Surgical Procedures: As more surgical procedures, including at least some minimally invasive procedures, take place, the demand for absorbable stitches is expected to increase. These stitches are preferred by the surgeons for the benefits that come with them, especially in terms of not having to remove the stitches, thus fostering better recovery of the patients.
- Developments in Material Technology: The materials utilized to produce absorbable sutures for instance polyglycolic acid and polylactic acid have been improved upon in terms of their strength, absorption rate, and biocompatibility. This results in more effective sutures in the process of healing thus influencing the demand from clinicians and patients who require surgical interventions.
- Rising Concerns Regarding the Safety of Patients: Concerns more so in regard to the safety of patients and the reduction of post operative side effects are of increased attention in the health sector. Thanks to Absorbable sutures, the risks of infections caused by suture removals are reduced and the healing stages are less complicated which makes clinicians and healthcare organizations favor them.
- Biodegradable Materials: The most recent trend is the use of biodegradable and environmental friendly materials in absorbable sutures. This is due to the fact that manufacturers are looking for ways to promote the safety of the patients as well as global efforts that aim at minimizing the medical wastes and promoting the green health care system.
- Smart Sutures: This is the new trend with the smart absorbable sutures developed with sensors. This allows the sutures to track the patient’s wound and report the information in real time to the care givers hence improving the care given to the patient and making it possible to react to complications on time thereby increasing the success of the surgeries done.
- Increased Customization: The due personalization of medical services is also being felt in the imports of absorbable sutures. The focus is on producing sutures that are specific to a certain type of surgery/ patient/ tissue, which in turn increases their efficiency and aids in achieving better surgical outcomes in general.
- Technological Innovations: Owing to materials science and advances in biomedical engineering, there is a tendency to create a next generation of absorbable sutures that will be much better in terms of biocompatibility and absorption rates. Companies can undertake research and development to manufacture sutures that not only promote healing but also prevent occurrence of complications, to satisfy the changing demands of the healthcare market.
- Expansion of Global Market: Developing countries are in the stage of rising healthcare expenditure coupled with better surgical care. The companies need to consider this upturn by enhancing their distribution channels and product range while focusing on the demand for absorption sutures in these markets thereby increasing market share as well as revenue.
- Collaboration with Healthcare Providers: Collaborating with hospitals and surgical centers can also provide the company with an understanding of particularly the needs and issues that the medical practitioners experience. Participation in development of clinical trials and gathering primary data enables bettering of the companys products and features to the minimum required levels which helps achieve positive results for the patients.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Absorbable Sutures 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 Absorbable Sutures 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
Asia Pacific region dominated the absorbable sutures market in 2023
The cardiovascular surgeries segment accounts for highest revenue in application sgement in 2023
The Absorbable Sutures Market is estimated to witness a CAGR of 5.50% from 2023 to 2031
The major factors driving the absorbable sutures market are:
1.Increasing Incidence of Cervical Disorders
2. Improved Screening Programs
3.Rising Awareness and Education on Women’s Health
North America region dominated the absorbable sutures market in 2023
B Braun Melsungen AG, DemeTECH Corporation, Dolphin Sutures, EndoEvolution LLC, Ethicon US LLC, INTERNACIONAL FARMACEUTICA S A, Medtronic, Peters Surgical, and Sutures India
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Absorbable Sutures Market - By Product Type
1.3.2 Absorbable Sutures Market - By Application
1.3.3 Absorbable Sutures Market - By End User
1.3.4 Absorbable Sutures Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ABSORBABLE SUTURES 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. ABSORBABLE SUTURES 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. ABSORBABLE SUTURES MARKET - GLOBAL MARKET ANALYSIS
6.1. ABSORBABLE SUTURES - GLOBAL MARKET OVERVIEW
6.2. ABSORBABLE SUTURES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ABSORBABLE SUTURES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CATGUT
7.3.1. Overview
7.3.2. Catgut Market Forecast and Analysis
7.4. POLYMER CHEMISTRY
7.4.1. Overview
7.4.2. Polymer Chemistry Market Forecast and Analysis
7.5. COLLAGEN SUTURE
7.5.1. Overview
7.5.2. Collagen Suture Market Forecast and Analysis
7.6. OTHER PRODUCT TYPES
7.6.1. Overview
7.6.2. Other Product Types Market Forecast and Analysis
8. ABSORBABLE SUTURES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CARDIOVASCULAR SURGERIES
8.3.1. Overview
8.3.2. Cardiovascular Surgeries Market Forecast and Analysis
8.4. GENERAL SURGERIES
8.4.1. Overview
8.4.2. General Surgeries Market Forecast and Analysis
8.5. ORTHOPEDIC SURGERIES
8.5.1. Overview
8.5.2. Orthopedic Surgeries Market Forecast and Analysis
8.6. GYNECOLOGICAL SURGERIES
8.6.1. Overview
8.6.2. Gynecological Surgeries Market Forecast and Analysis
8.7. OPHTHALMIC SURGERIES
8.7.1. Overview
8.7.2. Ophthalmic Surgeries Market Forecast and Analysis
8.8. OTHER APPLICATIONS
8.8.1. Overview
8.8.2. Other Applications Market Forecast and Analysis
9. ABSORBABLE SUTURES 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. AMBULATORY SURGICAL CENTERS (ASCS)
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers (ASCS) Market Forecast and Analysis
9.5. CLINICS AND PHYSICIAN OFFICES
9.5.1. Overview
9.5.2. Clinics and Physician Offices Market Forecast and Analysis
10. ABSORBABLE SUTURES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Absorbable Sutures Market Overview
10.1.2 North America Absorbable Sutures Market Forecasts and Analysis
10.1.3 North America Absorbable Sutures Market Forecasts and Analysis - By Product Type
10.1.4 North America Absorbable Sutures Market Forecasts and Analysis - By Application
10.1.5 North America Absorbable Sutures Market Forecasts and Analysis - By End User
10.1.6 North America Absorbable Sutures Market Forecasts and Analysis - By Countries
10.1.6.1 United States Absorbable Sutures Market
10.1.6.1.1 United States Absorbable Sutures Market by Product Type
10.1.6.1.2 United States Absorbable Sutures Market by Application
10.1.6.1.3 United States Absorbable Sutures Market by End User
10.1.6.2 Canada Absorbable Sutures Market
10.1.6.2.1 Canada Absorbable Sutures Market by Product Type
10.1.6.2.2 Canada Absorbable Sutures Market by Application
10.1.6.2.3 Canada Absorbable Sutures Market by End User
10.1.6.3 Mexico Absorbable Sutures Market
10.1.6.3.1 Mexico Absorbable Sutures Market by Product Type
10.1.6.3.2 Mexico Absorbable Sutures Market by Application
10.1.6.3.3 Mexico Absorbable Sutures Market by End User
10.2. EUROPE
10.2.1 Europe Absorbable Sutures Market Overview
10.2.2 Europe Absorbable Sutures Market Forecasts and Analysis
10.2.3 Europe Absorbable Sutures Market Forecasts and Analysis - By Product Type
10.2.4 Europe Absorbable Sutures Market Forecasts and Analysis - By Application
10.2.5 Europe Absorbable Sutures Market Forecasts and Analysis - By End User
10.2.6 Europe Absorbable Sutures Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Absorbable Sutures Market
10.2.6.1.1 Germany Absorbable Sutures Market by Product Type
10.2.6.1.2 Germany Absorbable Sutures Market by Application
10.2.6.1.3 Germany Absorbable Sutures Market by End User
10.2.6.2 France Absorbable Sutures Market
10.2.6.2.1 France Absorbable Sutures Market by Product Type
10.2.6.2.2 France Absorbable Sutures Market by Application
10.2.6.2.3 France Absorbable Sutures Market by End User
10.2.6.3 Italy Absorbable Sutures Market
10.2.6.3.1 Italy Absorbable Sutures Market by Product Type
10.2.6.3.2 Italy Absorbable Sutures Market by Application
10.2.6.3.3 Italy Absorbable Sutures Market by End User
10.2.6.4 Spain Absorbable Sutures Market
10.2.6.4.1 Spain Absorbable Sutures Market by Product Type
10.2.6.4.2 Spain Absorbable Sutures Market by Application
10.2.6.4.3 Spain Absorbable Sutures Market by End User
10.2.6.5 United Kingdom Absorbable Sutures Market
10.2.6.5.1 United Kingdom Absorbable Sutures Market by Product Type
10.2.6.5.2 United Kingdom Absorbable Sutures Market by Application
10.2.6.5.3 United Kingdom Absorbable Sutures Market by End User
10.2.6.6 Russia Absorbable Sutures Market
10.2.6.6.1 Russia Absorbable Sutures Market by Product Type
10.2.6.6.2 Russia Absorbable Sutures Market by Application
10.2.6.6.3 Russia Absorbable Sutures Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Absorbable Sutures Market Overview
10.3.2 Asia-Pacific Absorbable Sutures Market Forecasts and Analysis
10.3.3 Asia-Pacific Absorbable Sutures Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Absorbable Sutures Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Absorbable Sutures Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Absorbable Sutures Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Absorbable Sutures Market
10.3.6.1.1 Australia Absorbable Sutures Market by Product Type
10.3.6.1.2 Australia Absorbable Sutures Market by Application
10.3.6.1.3 Australia Absorbable Sutures Market by End User
10.3.6.2 China Absorbable Sutures Market
10.3.6.2.1 China Absorbable Sutures Market by Product Type
10.3.6.2.2 China Absorbable Sutures Market by Application
10.3.6.2.3 China Absorbable Sutures Market by End User
10.3.6.3 India Absorbable Sutures Market
10.3.6.3.1 India Absorbable Sutures Market by Product Type
10.3.6.3.2 India Absorbable Sutures Market by Application
10.3.6.3.3 India Absorbable Sutures Market by End User
10.3.6.4 Japan Absorbable Sutures Market
10.3.6.4.1 Japan Absorbable Sutures Market by Product Type
10.3.6.4.2 Japan Absorbable Sutures Market by Application
10.3.6.4.3 Japan Absorbable Sutures Market by End User
10.3.6.5 South Korea Absorbable Sutures Market
10.3.6.5.1 South Korea Absorbable Sutures Market by Product Type
10.3.6.5.2 South Korea Absorbable Sutures Market by Application
10.3.6.5.3 South Korea Absorbable Sutures Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Absorbable Sutures Market Overview
10.4.2 Middle East and Africa Absorbable Sutures Market Forecasts and Analysis
10.4.3 Middle East and Africa Absorbable Sutures Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Absorbable Sutures Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Absorbable Sutures Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Absorbable Sutures Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Absorbable Sutures Market
10.4.6.1.1 South Africa Absorbable Sutures Market by Product Type
10.4.6.1.2 South Africa Absorbable Sutures Market by Application
10.4.6.1.3 South Africa Absorbable Sutures Market by End User
10.4.6.2 Saudi Arabia Absorbable Sutures Market
10.4.6.2.1 Saudi Arabia Absorbable Sutures Market by Product Type
10.4.6.2.2 Saudi Arabia Absorbable Sutures Market by Application
10.4.6.2.3 Saudi Arabia Absorbable Sutures Market by End User
10.4.6.3 U.A.E Absorbable Sutures Market
10.4.6.3.1 U.A.E Absorbable Sutures Market by Product Type
10.4.6.3.2 U.A.E Absorbable Sutures Market by Application
10.4.6.3.3 U.A.E Absorbable Sutures Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Absorbable Sutures Market Overview
10.5.2 South and Central America Absorbable Sutures Market Forecasts and Analysis
10.5.3 South and Central America Absorbable Sutures Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Absorbable Sutures Market Forecasts and Analysis - By Application
10.5.5 South and Central America Absorbable Sutures Market Forecasts and Analysis - By End User
10.5.6 South and Central America Absorbable Sutures Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Absorbable Sutures Market
10.5.6.1.1 Brazil Absorbable Sutures Market by Product Type
10.5.6.1.2 Brazil Absorbable Sutures Market by Application
10.5.6.1.3 Brazil Absorbable Sutures Market by End User
10.5.6.2 Argentina Absorbable Sutures Market
10.5.6.2.1 Argentina Absorbable Sutures Market by Product Type
10.5.6.2.2 Argentina Absorbable Sutures Market by Application
10.5.6.2.3 Argentina Absorbable Sutures 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. ABSORBABLE SUTURES MARKET, KEY COMPANY PROFILES
12.1. B. BRAUN MELSUNGEN AG
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. DEMETECH CORPORATION
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. DOLPHIN SUTURES
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. ENDOEVOLUTION, LLC.
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. ETHICON US, LLC.
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. INTERNACIONAL FARMACEUTICA, S.A.
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. MEDTRONIC
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. PéTERS SURGICAL
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. SUTURES INDIA
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. W. L. GORE AND ASSOCIATES, 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. B. Braun Melsungen AG
2. DemeTECH Corporation
3. Dolphin Sutures
4. EndoEvolution, LLC.
5. Ethicon US, LLC.
6. INTERNACIONAL FARMACEUTICA, S.A.
7. Medtronic
8. Peters Surgical
9. Sutures India
10. W. L. Gore & Associates, 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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