North America Ultrasound Transducer Market Segments and Growth by 2027
North America Ultrasound Transducer Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Linear, Convex, Phased Array, Endocavitary, CW Doppler, TEE Probes, Others); Application (Cardiovascular, General Imaging, Musculoskeletal, OB and GYN, Vascular, Other); End User (Hospital, Clinics, Diagnostic Centers, Ambulatory Surgery Centers (ASCs))
- Report Date : Aug 2020
- Report Code : TIPRE00012991
- Category : Life Sciences
- Status : Published
- Available Report Formats :
- No. of Pages : 168
The North America ultrasound transducer market is expected to reach US$ 2,093.15 Mn in 2027 from US$ 1,570.93 Mn in 2019. The market is estimated to grow with a CAGR of 4.0% from 2020-2027.
The growth of the market is driven by the factors such as, growing prevalence of chronic diseases and increase in funds for ultrasound research are expected to augment the growth of the market. However, shortage of medical staff in North America is likely to have negative impact on the growth of the North America Ultrasound Transducer Market in the coming years.
Ultrasound imaging is used in anesthesiology, cardiology, angiology (vascular), gastroenterology/colorectal surgery, hemodynamics, gynecology/obstetrics, otolaryngology, and emergency medicine, among others. It has been widely used for both diagnostic as well as therapeutic procedures. Therefore, there has been increase in ultrasound imaging research activities. Additionally, there are government funds as well as private funds for ultrasound imaging research.
The Society for Academic Emergency Medicine (SAEM) focuses on improving emergency patient care and thus supports the research activities by innovative researchers and experts in emergency medicine. The SAEMF/Academy of Emergency Ultrasound (AEUS) Research Grant will provide up to US $10,000 for an applicant conducting research on point-of-care ultrasound on clinical practice or characterize point-of-care ultrasound learning curves.
Similarly, the Focused Ultrasound Foundation conducts and funds research activities in order to advance new applications of focused ultrasound that will fulfill an unmet clinical need, are cost-effective, and can become a standard of care. In May 2020, the foundation funded “Focused Ultrasound Treatment of Cerebral Cavernous Malformations Project”.
Thus growing funds for Ultrasound research is likely to drive the market growth in the North American region.
Furthermore, North America is witnessing the growing number of COVID-19 cases, for instance, in the United States the number of cases has been increased to 1,895,507 with 108,79 deaths reported. Additionally, Mexico and Canada cases are also growing. Due to coronavirus spreading, many cities are shutting down causing treatments and doctor’s appointment cancellation. Patients with serious health conditions, such as Cardiovascular, General Imaging, Musculoskeletal, OB and GYN, Vascular needs physical distancing with others, however, delays in such chronic disease treatments is distressing. However, In the situation of covid-19 many companies such as Siemens Healthineers, General Electric Company are taking initiative in the United States, used ultrasound in the treatment of covid19. For instance, Siemens Healthineers, is providing lung ultrasound which is strongly recommended for acute respiratory failure and can be a useful alternative during the COVID-19 outbreak if CT is not readily available. presented with flu-like symptoms and COVID-19 pneumonia. Therefore, it is likely to affect ultrasound transducers market owing to above mention points.
Mexico Ultrasound Transducer Market Revenue and Forecast to 2027 (US$ Mn)
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North America Ultrasound Transducer – Market Segmentation
- Linear
- Convex
- Phased Array
- Endocavitary
- CW Doppler
- TEE Probes
- Type
- 2D TEE Probes
- 3D TEE Probes
- 4D TEE Probes
- Age group
- Pediatric
- Adult
- Type
- Others
By Application
- Cardiovascular
- General Imaging
- Musculoskeletal
- OB and GYN
- Vascular
- Other
By End User
- Hospital
- Clinics
- Diagnostic Centers
- Ambulatory Surgery Centers (ASCs)
By Country
- US
- Canada
- Mexico
Company Profiles
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- General Electric Company
- Samsung (Samsung Medison Co Ltd)
- Hitachi, Ltd. (Hitachi Medical Systems Europe Holding AG)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Ultrasound Transducer Market – By Product
1.3.2 North America Ultrasound Transducer Market – By Application
1.3.3 North America Ultrasound Transducer Market – By End User
1.3.4 North America Ultrasound Transducer Market – By Country
2. North America Ultrasound Transducer Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Ultrasound Transducer Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America Ultrasound Transducer Market - North America PEST Analysis
4.3 Expert Opinion
5. North America Ultrasound Transducer Market Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Funds for Ultrasound Research
5.1.2 Increase in Chronic Disease Prevalence in North America
5.2 Key Restraints
5.2.1 Shortage of Medical Staff in North America
5.3 Key Market Opportunities
5.3.1 Increasing Research on Therapeutic Application of Ultrasound
5.4 Future Trend
5.4.1 Technological Developments
5.5 Impact Analysis
6. Ultrasound Transducer Market – North America Analysis
6.1 North America Ultrasound Transducer Market Revenue Forecasts and Analysis
7. Ultrasound Transducer Market Analysis – By Product
7.1 Overview
7.2 Ultrasound Transducer Market Share, by Product, 2019 and 2027 (%)
7.3 Linear
7.3.1 Overview
7.3.2 Linear: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.4 Convex
7.4.1 Overview
7.4.2 Convex: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.5 Phased Array
7.5.1 Overview
7.5.2 Phased Array: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.6 Endocavitary
7.6.1 Overview
7.6.2 Endocavitary: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.7 CW Doppler
7.7.1 Overview
7.7.2 CW Doppler: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8 TEE Probes
7.8.1 Overview
7.8.2 TEE Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8.2.1 2D TEE Probes
7.8.2.1.1 Overview
7.8.2.1.2 2D TEE Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8.2.2 3D TEE Probes Market
7.8.2.2.1 Overview
7.8.2.2.2 3D Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8.2.3 4D TEE Probes Market
7.8.2.3.1 Overview
7.8.2.3.2 4D TEE probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8.3 TEE Probes, Age Group
7.8.3.1 Adults
7.8.3.1.1 Overview
7.8.3.1.2 Adults: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.8.3.2 Pediatric
7.8.3.2.1 Overview
7.8.3.2.2 Pediatric: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
7.9 Others
7.9.1 Overview
7.9.2 Others: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8. Ultrasound Transducer Market Analysis – By Application
8.1 Overview
8.2 Ultrasound Transducer Market Share, by Application, 2019 and 2027 (%)
8.3 Cardiovascular
8.3.1 Overview
8.3.2 Cardiovascular: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8.4 General Imaging
8.4.1 Overview
8.4.2 General Imaging: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8.5 Musculoskeletal
8.5.1 Overview
8.5.2 Musculoskeletal: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8.6 OB AND GYN
8.6.1 Overview
8.6.2 OB and GYN: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8.7 Vascular
8.7.1 Overview
8.7.2 Vascular: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
9. Ultrasound Transducer Market – By End-User
9.1 Overview
9.2 Ultrasound Transducer Market, by End-User, 2019 and 2027 (%)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Ambulatory Surgical Centers
9.4.1 Overview
9.4.2 Ambulatory Surgical Centers: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Clinics
9.5.1 Overview
9.5.2 Clinics: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Diagnostics Centers
9.6.1 Overview
9.6.2 Diagnostic Centers: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
10. Ultrasound Transducer Market Revenue and Forecasts To 2027 – Geographical Analysis
10.1 North America Ultrasound Transducer Market Revenue and Forecasts To 2027
10.1.1 Overview
10.1.2 North America: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.3 North America Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.3.1 North America TEE Probes Market, by Type – Revenue and Forecast to 2027 (USD Million)
10.1.3.2 North America TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
10.1.4 North America Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
10.1.5 North America Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.6 North America: Ultrasound Transducer Market, by Country, 2019 & 2027 (%)
10.1.7 US: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.1 US: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.2 US Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.7.2.1 US TEE Probes Market, by Type – Revenue and Forecast to 2027 (USD Million)
10.1.7.2.2 US TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
10.1.7.3 US Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
10.1.7.4 US Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.8 Canada: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.1 Canada: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.2 Canada Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.8.2.1 Canada TEE Probes Market, by Type – Revenue and Forecast to 2027 (USD Million)
10.1.8.2.2 Canada TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
10.1.8.3 Canada Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
10.1.8.4 Canada Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.9 Mexico: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.1 Mexico: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.2 Mexico Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.9.2.1 Mexico TEE Probes Market, by Type – Revenue and Forecast to 2027 (USD Million)
10.1.9.2.2 Mexico TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
10.1.9.3 Mexico Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
10.1.9.4 Mexico Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
11. Impact of COVID-19 Pandemic on Global Ultrasound Transducer Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
12.1 Siemens Healthineers 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 Koninklijke Philips N.V.
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 General Electric Company
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 Samsung (Samsung Medison Co Ltd)
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 Hitachi, Ltd. (Hitachi Medical Systems Europe Holding AG)
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 2. North America TEE Probes Market, by Type– Revenue and Forecast to 2027 (USD Million)
Table 3. North America TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
Table 4. North America Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
Table 5. North America Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 6. US Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 7. US TEE Probes Market, by Type– Revenue and Forecast to 2027 (USD Million)
Table 8. US TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
Table 9. US Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
Table 10. US Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 11. Canada Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 12. Canada TEE Probes Market, by Type– Revenue and Forecast to 2027 (USD Million)
Table 13. Canada TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
Table 14. Canada Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
Table 15. Canada Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 16. Mexico Ultrasound Transducer Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 17. Mexico TEE Probes Market, by Type– Revenue and Forecast to 2027 (USD Million)
Table 18. Mexico TEE Probes Market, by Age Group – Revenue and Forecast to 2027 (USD Million)
Table 19. Mexico Ultrasound Transducer Market, by Application– Revenue and Forecast to 2027(USD Million)
Table 20. Mexico Ultrasound Transducer Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 21. Glossary of Terms, North America Ultrasound Transducer Market
LIST OF FIGURES
Figure 1. Ultrasound Transducer Market Segmentation
Figure 2. North America Ultrasound Transducer Market Overview
Figure 3. Convex Segment Held Largest Share of Ultrasound Transducer Market
Figure 4. US Is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. North America Ultrasound Transducer Market- Leading Country Markets (US$ Mn)
Figure 6. North America : PEST Analysis
Figure 7. Ultrasound Transducer Market Impact Analysis of Drivers and Restraints
Figure 8. North America Ultrasound Transducer Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 9. Ultrasound Transducer Market Share, by Product, 2019 and 2027 (%)
Figure 10. Linear: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 11. Convex : Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 12. Phased Array: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 13. Endocavitary: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 14. CW Doppler: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 15. TEE Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 16. 2D TEE Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 17. 3D Probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 18. 4D TEE probes: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 19. Adults: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 20. Pediatric: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 21. Others: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 22. Ultrasound Transducer Market Share, by Application, 2019 and 2027 (%)
Figure 23. Cardiovascular: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 24. General Imaging: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 25. Musculoskeletal: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 26. OB and GYN: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 27. Vascular: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 28. Others: Ultrasound Transducer Market– Revenue and Forecast to 2027 (US$ Million)
Figure 29. Ultrasound Transducer Market, by End-User, 2019 and 2027 (%)
Figure 30. Hospitals: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Ambulatory Surgical Centers: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. Clinics: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 33. Diagnostic Centers: Ultrasound Transducer Market – Revenue and Forecast to 2027 (US$ Million)
Figure 34. North America: Ultrasound Transducer Market, by Key Country – Revenue (2019) (USD Million)
Figure 35. North America Ultrasound Transducer Market Revenue and Forecast to 2027 (USD Million)
Figure 36. North America: Ultrasound Transducer Market, by Country, 2019 & 2027 (%)
Figure 37. US: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
Figure 38. Canada: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
Figure 39. Mexico: Ultrasound Transducer Market – Revenue and Forecast to 2027 (USD Million)
Figure 40. Impact of COVID-19 Pandemic in North American Country Markets
- Siemens Healthineers AG
- Koninklijke Philips N.V.
- General Electric Company
- Samsung (Samsung Medison Co Ltd)
- Hitachi, Ltd. (Hitachi Medical Systems Europe Holding AG)
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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