Europe EEG Devices Market Growth and Recent Trends by 2028
Europe EEG Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (8-channel EEG, 21-channel EEG, 25-channel EEG, 32-channel EEG, 40-channel EEG, and Multi-channel EEG); Application (Sleep Disorders, Neuroscience, Head Trauma, Brain Tumours, and Others); Device Type (Standalone Devices, and Portable Devices); End User (Hospitals & Clinics, Diagnostic Centres, Academic & Research Institutes, and Research Centres)
- Report Date : Aug 2021
- Report Code : TIPRE00024239
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 147
The EEG devices market in Europe is expected to grow from US$ 308.1 million in 2021 to US$ 498.6 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028.
The number of the aging population in the world is projected to reach around 1.4 billion in 2030, and it will reach about 2.1 billion in 2050 and is expected to reach up to 3.1 billion in 2100. The elderly population has been linked with various chronic diseases due to problems related to it. Neurological disorders are most commonly observed in older adults, affecting between 5% and 55% of people aged 55 years and above. They are associated with a high risk for adverse health outcomes, such as mortality, disability, institutionalization, and hospitalization. Mental and neurological disorders in elderly adults report 6.6% of the total disability (DALYs) for this age group. Roughly, 15% of adults aged 60 and above have a mental disorder. The most common mental and neurological disorders observed in the geriatric population are dementia and depression, which affect approximately 5% and 7% of the world’s older population, respectively. Therefore, due to the increasing geriatric population and the surge in associated neurological disorders, the market for EEG devices is anticipated to witness significant growth.The EEG devices market witnessed some shortfall at the beginning of COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. As per the news article, in Italy, due to Covid-19 emergency, access for thousands of cancer patients in need of chemotherapy, scans, transplants and surgery has become difficult. According to the research led by Codice Viola, charity that supports pancreatic cancer patients found that more than 1,000 surgery patient patients’ appointments for chemotherapy or radiotherapy were suspended. Additionally, 64% of surgical procedures were postponed and more than half have had follow-up appointments rescheduled. In the Netherlands, the healthcare system is under stress due to the rising number of COVID-19 patients. Family healthcare services providers are treating COVID-19 patient who has disrupted normal patient care.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the EEG devices market. The Europe EEG devices market is expected to grow at a good CAGR during the forecast period.
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Europe EEG Devices Market Segmentation
By Product
- 32-channel EEG
- 25-channel EEG
- 40-channel EEG
- Multi channel EEG
- 21-channel EEG
- 8-channel EEG
By Application
- Brain Tumors
- Head Trauma
- Sleep Disorders
- Neuroscience
- Others
By Device Type
- Standalone Devices
- Portable Devices
By End User
- Hospitals & Clinics
- Diagnostic Centers
- Research Centers
- Academic & Research Institutes
By Country
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Companies Mentioned
- Koninklijke Philips N.V.
- Bitbrain Technologies
- Brain Products GmbH
- g.tec medical engineering GmbH Austria
- Wearable Sensing
- Neuroelectrics
- ANT Neuro
- Mitsar Co. LTD.
- NeuroSky
- BioSemi
- EMOTIV
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, Device Type, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 EEG Devices Market – By Product
1.3.2 EEG Devices Market – By Application
1.3.3 EEG Devices Market – By Device Type
1.3.4 EEG Devices Market – By End User
1.3.5 Europe EEG Devices Market – By Country
2. Europe EEG Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe EEG Devices Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 EEG Devices Market- Europe PEST Analysis
4.3 Expert Opinion
5. Europe EEG Devices Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Incidences of Neurovascular Disorders
5.1.2 Significantly Rising Elderly Population
5.2 Market Restraints
5.2.1 High Cost of EEG Devices
5.3 Future Trend
5.3.1 Technological Developments in EEG Devices
5.4 Impact Analysis
6. EEG Devices Market – Europe Analysis
6.1 Europe EEG Devices Market Revenue Forecasts and Analysis
7. Europe EEG Devices Market Analysis and Forecasts To 2028 – By Product
7.1 Overview
7.2 EEG Devices Market Revenue Share, By Product (2021 and 2028)
7.3- Channel EEG
7.3.1 Overview
7.3.2- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.4- Channel EEG
7.4.1 Overview
7.4.2- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.5- Channel EEG
7.5.1 Overview
7.5.2- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Multi- Channel EEG
7.6.1 Overview
7.6.2 Multi- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.7-Channel EEG
7.7.1 Overview
7.7.2- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
7.8 8-channel EEG
7.8.1 Overview
7.8.2 8-channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
8. EEG Devices Market Analysis – By Application
8.1 Overview
8.2 EEG Devices Market, by Application 2021 & 2028 (%)
8.3 Brain Tumours
8.3.1 Overview
8.3.2 Brain Tumours: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Head Trauma
8.4.1 Overview
8.4.2 Head Trauma: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Sleep Disorders
8.5.1 Overview
8.5.2 Sleep Disorders: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Neuroscience
8.6.1 Overview
8.6.2 Neuroscience: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe EEG Devices Market Analysis and Forecasts To 2028 – By Device Type
9.1 Overview
9.2 EEG Devices Market Revenue Share, By Device Type (2021 and 2028)
9.3 Standalone Devices
9.3.1 Overview
9.3.2 Standalone Devices: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Portable Devices
9.4.1 Overview
9.4.2 Portable Devices: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
10. Europe EEG Devices Market Analysis and Forecasts to 2028– By End User
10.1 Overview
10.2 EEG Devices Market Share by End User 2018 & 2027 (%)
10.3 Hospitals & Clinics
10.3.1 Overview
10.3.2 Hospitals & Clinics: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Diagnostic Centres
10.4.1 Overview
10.4.2 Diagnostic Centres: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Research Centres
10.5.1 Overview
10.5.2 Research Centres: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
10.6 Academic & Research Institutes
10.6.1 Overview
10.6.2 Academic & Research Institutes: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
11. EEG Devices Market Revenue and Forecasts to 2028 – Geographical Analysis
11.1 Europe: EEG Devices Market Revenue and Forecasts to 2028
11.1.1 Overview
11.1.2 Europe EEG Devices Market Revenue and Forecasts to 2028, By Country (%)
11.1.2.1 UK EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.1.1 UK EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.1.2 UK EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
11.1.2.1.3 UK EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.1.4 UK EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.1.5 UK EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
11.1.2.2 Germany EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.2.1 Germany EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.2.2 Germany EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.2.3 Germany EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.2.4 Germany EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.2.5 Germany EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
11.1.2.3 France EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.3.1 France EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.3.2 France EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
11.1.2.3.3 France EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.3.4 France EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.3.5 France EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
11.1.2.4 Italy EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.4.1 Italy EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.4.2 Italy EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
11.1.2.4.3 Italy EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.4.4 Italy EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.4.5 Italy EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
11.1.2.5 Spain EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.5.1 Spain EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.5.2 Spain EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
11.1.2.5.3 Spain EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.5.4 Spain EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.5.5 Spain EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
11.1.2.6 Rest of Europe EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.6.1 Rest of Europe EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
11.1.2.6.2 Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
11.1.2.6.3 Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
11.1.2.6.4 Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
11.1.2.6.5 Rest of Europe EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
12. Impact Of COVID-19 Pandemic on Europe EEG Devices Market
12.1 Europe: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Growth Strategies Done by the Companies in the Market, (%)
13.3 Organic Developments
13.3.1 Overview
13.4 Inorganic Developments
13.4.1 Overview
14. COMPANY PROFILES
14.1 Koninklijke Philips N.V.
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Bitbrain Technologies
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Brain Products GmbH
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 g.tec medical engineering GmbH Austria
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Wearable Sensing
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Neuroelectrics
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 ANT Neuro
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Mitsar Co. LTD.
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 NeuroSky
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 BioSemi
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 EMOTIV
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. UK EEG Devices Market Revenue and Forecasts to 2028, By Product US$ Mn)
Table 2. UK EEG Devices Market Revenue and Forecasts to 2028, by Application US$ Mn)
Table 3. UK EEG Devices Market Revenue and Forecasts to 2028, By Device Type US$ Mn)
Table 4. UK EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 5. Germany EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
Table 6. Germany EEG Devices Market Revenue and Forecasts to 2028, by Application US$ Mn)
Table 7. Germany EEG Devices Market Revenue and Forecasts to 2028, By Device Type US$ Mn)
Table 8. Germany EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 9. France EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 10. France EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
Table 11. France EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
Table 12. France EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 13. Italy EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 14. Italy EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
Table 15. Italy EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
Table 16. Italy EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 17. Spain EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 18. Spain EEG Devices Market, by Application – Revenue and Forecast to 2028 by Application (USD Million)
Table 19. Spain EEG Devices Market, By Device Type – Revenue and Forecast to 2028 By Device Type (USD Million)
Table 20. Spain EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 21. Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, By Product (US$ Mn)
Table 22. Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, by Application (US$ Mn)
Table 23. Rest of Europe EEG Devices Market Revenue and Forecasts to 2028, By Device Type (US$ Mn)
Table 24. Rest of Europe EEG Devices Market Revenue and Forecast to 2027, By End User (US$ Mn)
Table 25. Organic Developments Done By Companies
Table 26. Inorganic Developments Done By Companies
Table 27. Glossary of Terms, EEG Devices Market
LIST OF FIGURES
Figure 1. EEG Devices Market Segmentation
Figure 2. Europe EEG Devices Market Overview
Figure 3.-channel EEG Segment Held Largest Share of Product in EEG devices Market
Figure 4. UK is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. EEG Devices Market - Europe PEST Analysis
Figure 6. EEG Devices Market Impact Analysis of Driver and Restraints
Figure 7. Europe EEG Devices Market – Revenue Forecasts and Analysis – 2020- 2028
Figure 8. EEG Devices Market Revenue Share, By Product (2021 and 2028)
Figure 9.- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10.- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11.- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Multi- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13.- Channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. 8-channel EEG: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. EEG Devices Market, by Application 2021 & 2028 (%)
Figure 16. Brain Tumours: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Head Trauma: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Sleep Disorders: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Neuroscience: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. EEG Devices Market Revenue Share, By Device Type (2021 and 2028)
Figure 22. Standalone Devices: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Portable Devices: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. EEG Devices Market Share by End User 2018 & 2027 (%)
Figure 25. Hospitals & Clinics: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Diagnostic Centres: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Research Centres: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Academic & Research Institutes: EEG Devices Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Europe: EEG Devices Market Revenue Overview, by Country, 2021 (US$ MN)
Figure 30. Europe EEG Devices Market Revenue and Forecasts to 2028, By Country (%)
Figure 31. UK EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 32. Germany EEG Devices Products Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 33. France EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 34. Italy EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 35. Spain EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 36. Rest of Europe EEG Devices Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 37. Impact of COVID-19 Pandemic in European Country Markets
Figure 38. Growth Strategies Done by the Companies in the Market, (%)
- Koninklijke Philips N.V.
- Bitbrain Technologies
- Brain Products GmbH
- g.tec medical engineering GmbH Austria
- Wearable Sensing
- Neuroelectrics
- ANT Neuro
- Mitsar Co. LTD.
- NeuroSky
- BioSemi
- EMOTIV
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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