Asia Pacific beauty devices market is expected to reach US$ 15,260.14 Mn in 2027 from US$ 5,366.31 Mn in 2019. The market is estimated to grow with a CAGR of 14.3% from 2019-2027.
The growth of the Beauty Devices Market is driven by factors such as the changing consumer psyche towards beauty and wellness with rising geriatric population, and increasing prevalence of skin and hair problems in the Asia Pacific region. Whereas, undesirable side effects of beauty devices and availability cheaper beauty products likely to have a negative impact on the growth of the market in the coming years.
Beauty devices are made and sold for the purpose of enhancing the physical attractiveness of users. These devices come in handy and are very useful for the cosmetic usage area including skin related issues, such as acne, wrinkles and scars usage areas among others.
Beginning from skin issues to hair problems, these beauty devices promise to provide the same service as one would get from any aesthetic treatment. Widespread awareness about beauty devices and services, increasing prevalence of skin and hair problems along with rapid technological advancement are the driving factors of the market. Age-related skin issues, such as pigmentation, wrinkles, creases, and acne, as well as burn scars due to accidents are extremely common among masses. Various other elements due to which hair and skin diseases are generated include tobacco use, environmental pollution, ultraviolet radiation, and excessive alcohol consumption. Several incidences of skin diseases are also evolving owing to infections caused by viruses, bacteria, and fungi.
The prevalence of skin disease in India is 10 to 12 percent of the total population with Eczema and Psoriasis being the major contributors. In 2013, with prevalence rate of 10 percent, the population affected across India from skin disease is estimated at nearly 15.1 crore. Moreover, one in 10 people develop atopic dermatitis during their lifetime, and it affects up to 25% of children and 2–3% of adults. Furthermore, over a quarter (28%) of women under 25 even admit that they regularly worry about their signs of aging, and this number has increased to 42% for those aged 25–34 and 54% for those aged 35–44.
Increasing work hours and changing lifestyle have contributed to rising levels of stress, resulting in several issues on outward appearance, especially on the skin and hair with fastening of the aging process of skin and increase in hair related issues. Also, the increasing level of pollution shows detrimental effects on an individual’s physical appearance. These issues can be controlled with the use of derma roller and blue light devices for acne. Customers have continued to show keen interest in experiencing beauty and wellness services to rejuvenate their skin. Thus, international grooming products and services at home have gained popularity to a great extent.
The increasing use of beauty devices in Asia Pacific is expected to drive beauty devices market the growing medical devices industry in the country create a lucrative opportunity and the presence of an established market for beauty devices.
Japan Beauty Devices Market Revenue and Forecasts to 2027 (US$ Bn)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
ASIA PACIFIC BEAUTY DEVICES– MARKET SEGMENTATION
Asia Pacific Beauty Devices Market - By Device Type
- Hair Removal Devices
- Cleansing Devices
- Acne Devices
- Light/LED Therapy and Photorejuvenation Devices
- Hair Growth Devices
- Skin Dermal Rollers
- Rejuvenation Devices
- Others
Asia Pacific Beauty Devices Market - By Usage Area
- Salon
- Home
- Spa
Asia Pacific Beauty Devices Market - By Distribution Channel
- Retail
- E-commerce
Asia Pacific Beauty Devices Market - By Country
- China
- Japan
- India
- South Korea
- Australia
Companies Mentioned
- NuFACE
- L'OREAL GROUP
- Procter & Gamble
- Koninklijke Philips N.V.
- Panasonic Corporation
- TRIA BEAUTY
- FOREO
- YA-MAN LTD
- ZIIP
- Silk’n
- Nu Skin Enterprises, Inc.
- MTG Co., Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Usage Areas, Distribution Channel, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Beauty Devices Market – By Device Type
1.3.2 Asia Pacific Beauty Devices Market – By Usage Area
1.3.3 Asia Pacific Beauty Devices Market – By Distribution Channel
1.3.4 Asia Pacific Beauty Devices Market – By Country
2. Asia Pacific Beauty Devices Market –Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Beauty Devices Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 4.2.1 Beauty Devices Market - Asia Pacific PEST Analysis
4.3 Expert Opinion
5. Asia Pacific Beauty Devices Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Changing consumer psyche towards beauty and wellness with rising geriatric population.
5.1.2 Increasing Prevalence of Skin and Hair Problem
5.2 Key Restraints
5.2.1 Undesirable Side Effects
5.2.2 Availability of cheaper beauty products and alternatives
5.3 Key Market Opportunities
5.3.1 Increasing Disposable Income and the Expanding Middle-Class Population
5.4 Future Trend
5.4.1 Technological Innovations
5.5 Impact Analysis
6. Beauty Devices Market – Asia Pacific Analysis
6.1 Asia Pacific Beauty Devices Market Revenue Forecasts and Analysis
6.2 Positioning of Key Players
7. Asia Pacific Beauty Devices Market Analysis And Forecasts To 2027 – By Device Type
7.1 Overview
7.2 Asia Pacific Beauty Devices Market, By Device Type 2019 & 2027 (%)
7.2.1 Asia Pacific Beauty Devices Market Revenue and Forecasts to 2027, By Device Type (US$ Mn)
7.3 Hair Removal Devices
7.3.1 Overview
7.3.2 Asia Pacific Hair Removal Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Cleansing Devices
7.4.1 Overview
7.4.2 Asia Pacific Cleansing Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Acne Devices
7.5.1 Overview
7.5.2 Asia Pacific Acne Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.6 Light/LED Therapy and Photorejuvenation Devices
7.6.1 Overview
7.6.2 Asia Pacific Light/LED Therapy and Photorejuvenation Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.7 Hair Growth Devices
7.7.1 Overview
7.7.2 Asia Pacific Hair Growth Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.8 Skin Dermal Rollers
7.8.1 Overview
7.8.2 Asia Pacific Skin Dermal Rollers Market Revenue and Forecast to 2027 (US$ Mn)
7.9 Rejuvenation Devices
7.9.1 Overview
7.9.2 Asia Pacific Rejuvenation Devices Market Revenue and Forecast to 2027 (US$ Mn)
7.10 Others
7.10.1 Overview
7.10.2 Asia Pacific Others Market Revenue and Forecast to 2027 (US$ Mn)
8. Asia Pacific Beauty Devices Market Analysis– By Usage Area
8.1 Overview
8.2 Asia Pacific Beauty Devices Market, By Usage Area 2019-2027 (%)
8.2.1 Asia Pacific Beauty Devices Market Revenue and Forecasts to 2027, By Usage Area (US$ Mn)
8.3 Salon
8.3.1 Overview
8.3.2 Asia Pacific Salon Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Home
8.4.1 Overview
8.4.2 Asia Pacific Home Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Spa
8.5.1 Overview
8.5.2 Asia Pacific Spa Market Revenue and Forecasts to 2027 (US$ Mn)
9. Asia Pacific Beauty Devices Market Analysis– By Distribution Channel
9.1 Overview
9.2 Asia Pacific Beauty Devices Market, By Distribution Channel 2019 & 2027 (%)
9.2.1 Asia Pacific Beauty Devices Market Revenue and Forecasts to 2027, By Distribution Channel (US$ Mn)
9.3 Retail
9.3.1 Overview
9.3.2 Asia Pacific Retail Market Revenue and Forecast to 2027 (US$ Mn)
9.4 E-commerce
9.4.1 Overview
10. Beauty Devices Market Revenue and Forecasts To 2027 – Geographical Analysis
10.1 Asia Pacific Beauty Devices Market Revenue and Forecasts To 2027
10.1.1 Overview
10.1.2 Asia Pacific: Beauty Devices Market - Revenue and Forecast to 2027 (USD Million)
10.1.3 Asia Pacific Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.4 Asia Pacific Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.5 Asia Pacific Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.6 China: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.1 China: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.6.2 China Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.6.3 China Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.6.4 China Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.7 Japan: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.1 Japan: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.2 Japan Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.7.3 Japan Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.7.4 Japan Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.8 India: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.1 India: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.2 India Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.8.3 India Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.8.4 India Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.9 South Korea: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.1 South Korea: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.2 South Korea Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.9.3 South Korea Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.9.4 South Korea Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.10 Australia: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.1 Australia: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.2 Australia Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
10.1.10.3 Australia Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
10.1.10.4 Australia Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
11. Asia Pacific Beauty Devices Market Industry Landscape
11.1 Overview
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 NuFACE
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 L'OREAL GROUP
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Service
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Procter & Gamble
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 Koninklijke Philips N.V.
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 Panasonic 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 TRIA BEAUTY
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 FOREO
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 YA-MAN LTD
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 ZIIP
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 Silk’n
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
12.11 Nu Skin Enterprises, Inc.
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 MTG Co., Ltd
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia Pacific Beauty Devices Market Revenue and Forecasts To 2027, By Device Type (US$ Mn)
Table 2. Asia Pacific Beauty Devices Market Revenue and Forecasts To 2027, By Usage Area (US$ Mn)
Table 3. Asia Pacific Beauty Devices Market Revenue and Forecasts To 2027, By Distribution Channel (US$ Mn)
Table 4. Asia Pacific Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 5. Asia Pacific Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 6. Asia Pacific Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 7. China Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 8. China Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 9. China Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 10. Japan Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 11. Japan Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 12. Japan Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 13. India Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 14. India Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 15. India Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 16. South Korea Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 17. South Korea Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 18. South Korea Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 19. Australia Beauty Devices Market, by Device Type – Revenue and Forecast to 2027 (USD Million)
Table 20. Australia Beauty Devices Market, by Usage Area – Revenue and Forecast to 2027 (USD Million)
Table 21. Australia Beauty Devices Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 22. Organic Developments Done By Companies
Table 23. Inorganic Developments Done By Companies
Table 24. Glossary of Terms, Beauty devices market
LIST OF FIGURES
Figure 1. Beauty Devices Market Segmentation
Figure 2. Asia Pacific Beauty Devices Market Overview
Figure 3. The Hair Removal Devices Segment Held Largest Share of Device Type Segment in Beauty Devices Market
Figure 4. China Is Expected To Show Remarkable Growth During The Forecast Period
Figure 5. Asia Pacific Beauty Devices Market- Leading Country Markets (US$ Mn)
Figure 6. Beauty Devices Market, Industry Landscape
Figure 7. Beauty Devices Market - Asia Pacific PEST Analysis
Figure 8. Beauty Devices Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Beauty Devices Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 10. Market Positioning of Key Players in Asia Pacific Beauty Devices Market
Figure 11. Asia Pacific Beauty Devices Market, By Device Type 2019 & 2027 (%)
Figure 12. Asia Pacific Hair Removal Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. Asia Pacific Cleansing Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. Asia Pacific Acne Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. Asia Pacific Light/LED Therapy and Photorejuvenation Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. Asia Pacific Hair Growth Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. Asia Pacific Skin Dermal Rollers Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. Asia Pacific Rejuvenation Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Asia Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. Asia Pacific Beauty Devices Market, by Usage Area 2019 & 2027 (%)
Figure 21. Asia Pacific Salon Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. Asia Pacific Home Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Asia Pacific Spa Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. Asia Pacific Beauty Devices Market, By Distribution Channel 2019 & 2027 (%)
Figure 25. Asia Pacific Retail Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. Asia Pacific E-commerce Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 27. Asia Pacific: Beauty Devices Market, by Key Country – Revenue (2019) (USD Million)
Figure 28. Asia Pacific Beauty Devices Market Revenue and Forecast to 2027 (USD Million)
Figure 29. China: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 30. Japan: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 31. India: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 32. South Korea: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 33. Australia: Beauty Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 34. Growth Strategies Done by the Companies in the Market, (%)
The List of Companies - Asia Pacific Beauty Devices Market
- NuFACE
- L'OREAL GROUP
- Procter & Gamble
- Koninklijke Philips N.V.
- Panasonic Corporation
- TRIA BEAUTY
- FOREO
- YA-MAN LTD
- ZIIP
- Silk’n
- Nu Skin Enterprises, Inc.
- MTG Co., Ltd
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.
Get Free Sample For