The Phototherapy Equipment Market is expected to register a CAGR of 4.0% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Phototherapy Equipment Market By Product (Conventional Phototherapy Equipment, LED Phototherapy Equipment, Fiberoptic Phototherapy Equipment); Application (Skin Disease Treatment, Neonatal Jaundice Management); End User (Hospitals and Clinics, Homecare) , and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Phototherapy Equipment 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.
Phototherapy Equipment Market Segmentation
Product- Conventional Phototherapy Equipment
- LED Phototherapy Equipment
- Fiberoptic Phototherapy Equipment
- Skin Disease Treatment
- Neonatal Jaundice Management
- Hospitals and Clinics
- Homecare
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Phototherapy Equipment Market Growth Drivers- Increasing Incidence of Skin Disorders: One important factor is the increase in the number of people with skin disorders like psoriasis, eczema, and acne. According to reports, 84.5 million Americans suffer from a skin illness, which increases the need for efficient treatments like phototherapy equipment.
- Rising prevalence of pediatric jaundice cases: Another important aspect of the requirement of phototherapy equipment is the rising number of neonates receiving jaundice diagnoses. About 60% of neonates are thought to develop jaundice, therefore phototherapy can offer helpful therapeutic options. Such a factor is expected to aid the overall market.
- Budget Friendly: In comparison to other treatment methods, phototherapy devices or equipment are frequently/often more affordable, which makes them appealing to both patients and healthcare professionals. For example, more cost-effective and energy-efficient home-based phototherapy options have been developed than traditional hospital therapies.
- Favorable Regulations: New phototherapy device approvals from regulatory agencies, such as the FDA, improve market accessibility and spur businesses to develop even more. Better items are able to enter the market as a result of these improvements and advancements, which also promote competition.
- Technological Advancements: The development of LED-based phototherapy equipment has changed the market. These devices are more effective than conventional ones because they can concentrate particular light wavelengths on the problematic areas, resulting in longer lifespans (up to 3,000 hours) and shorter treatment times. It is anticipated that this technological advancement will keep propelling market expansion.
- Connected Devices: Remote monitoring and data gathering are made possible by the integration of smart technologies into phototherapy equipment. Healthcare professionals can track patient progress in real-time, alter treatment strategies accordingly, and increase overall care effectiveness. Such a factor has aided the market growth in recent past and is expected to continue a similar trend during the forecast period.
- Introduction of Innovative Designs: Patients can now readily undergo phototherapy at home thanks to the development of wearable and portable equipment. This invention increases access to therapy for people who might find it difficult to visit clinics and encourages adherence to treatment regimens.Such a factor is expected to aid the market growth.
- Targeted Treatment: Innovations and advancements have led to the creation of devices that focus on specific body parts afflicted by skin problems. By limiting exposure to unaffected areas, this focused approach lowers the risk of adverse effects and enhances treatment outcomes overall.
- Homebased Applications:The growing need for easy-to-use treatment alternatives for ailments like skin disorders and infant jaundice is being met by the increased availability of phototherapy equipment for home use. This market is anticipated to expand quickly as more people become aware of home-based treatments.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Phototherapy Equipment 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 Phototherapy Equipment 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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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
This text is related
to country scope.
Frequently Asked Questions
Innovation of Innovative Designs
North America region held the largest share in 2023
Potential Side Effects
Asia Pacific region is expected to witness the highest growth during the forecast period
The Phototherapy Equipment Market is estimated to witness a CAGR of 4.0% from 2023 to 2031
Increasing Incidence of Skin Disorders
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Phototherapy Equipment Market - By Product
1.3.2 Phototherapy Equipment Market - By Application
1.3.3 Phototherapy Equipment Market - By End User
1.3.4 Phototherapy Equipment Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHOTOTHERAPY EQUIPMENT 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. PHOTOTHERAPY EQUIPMENT 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. PHOTOTHERAPY EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. PHOTOTHERAPY EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. PHOTOTHERAPY EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PHOTOTHERAPY EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. CONVENTIONAL PHOTOTHERAPY EQUIPMENT
7.3.1. Overview
7.3.2. Conventional Phototherapy Equipment Market Forecast and Analysis
7.3.3. Conventional Phototherapy Equipment with Fluorescent Lamp Market
7.3.3.1. Overview
7.3.3.2. Conventional Phototherapy Equipment with Fluorescent Lamp Market Forecast and Analysis
7.3.4. Conventional Phototherapy Equipment with Compact Fluorescent Lamp Market
7.3.4.1. Overview
7.3.4.2. Conventional Phototherapy Equipment with Compact Fluorescent Lamp Market Forecast and Analysis
7.4. LED PHOTOTHERAPY EQUIPMENT
7.4.1. Overview
7.4.2. LED Phototherapy Equipment Market Forecast and Analysis
7.5. FIBEROPTIC PHOTOTHERAPY EQUIPMENT
7.5.1. Overview
7.5.2. Fiberoptic Phototherapy Equipment Market Forecast and Analysis
8. PHOTOTHERAPY EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SKIN DISEASE TREATMENT
8.3.1. Overview
8.3.2. Skin Disease Treatment Market Forecast and Analysis
8.3.3. Psoriasis Market
8.3.3.1. Overview
8.3.3.2. Psoriasis Market Forecast and Analysis
8.3.4. Vitiligo Market
8.3.4.1. Overview
8.3.4.2. Vitiligo Market Forecast and Analysis
8.3.5. Eczema Market
8.3.5.1. Overview
8.3.5.2. Eczema Market Forecast and Analysis
8.3.6. Others Market
8.3.6.1. Overview
8.3.6.2. Others Market Forecast and Analysis
8.4. NEONATAL JAUNDICE MANAGEMENT
8.4.1. Overview
8.4.2. Neonatal Jaundice Management Market Forecast and Analysis
9. PHOTOTHERAPY EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND CLINICS
9.3.1. Overview
9.3.2. Hospitals and Clinics Market Forecast and Analysis
9.4. HOMECARE
9.4.1. Overview
9.4.2. Homecare Market Forecast and Analysis
10. PHOTOTHERAPY EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Phototherapy Equipment Market Overview
10.1.2 North America Phototherapy Equipment Market Forecasts and Analysis
10.1.3 North America Phototherapy Equipment Market Forecasts and Analysis - By Product
10.1.4 North America Phototherapy Equipment Market Forecasts and Analysis - By Application
10.1.5 North America Phototherapy Equipment Market Forecasts and Analysis - By End User
10.1.6 North America Phototherapy Equipment Market Forecasts and Analysis - By Countries
10.1.6.1 United States Phototherapy Equipment Market
10.1.6.1.1 United States Phototherapy Equipment Market by Product
10.1.6.1.2 United States Phototherapy Equipment Market by Application
10.1.6.1.3 United States Phototherapy Equipment Market by End User
10.1.6.2 Canada Phototherapy Equipment Market
10.1.6.2.1 Canada Phototherapy Equipment Market by Product
10.1.6.2.2 Canada Phototherapy Equipment Market by Application
10.1.6.2.3 Canada Phototherapy Equipment Market by End User
10.1.6.3 Mexico Phototherapy Equipment Market
10.1.6.3.1 Mexico Phototherapy Equipment Market by Product
10.1.6.3.2 Mexico Phototherapy Equipment Market by Application
10.1.6.3.3 Mexico Phototherapy Equipment Market by End User
10.2. EUROPE
10.2.1 Europe Phototherapy Equipment Market Overview
10.2.2 Europe Phototherapy Equipment Market Forecasts and Analysis
10.2.3 Europe Phototherapy Equipment Market Forecasts and Analysis - By Product
10.2.4 Europe Phototherapy Equipment Market Forecasts and Analysis - By Application
10.2.5 Europe Phototherapy Equipment Market Forecasts and Analysis - By End User
10.2.6 Europe Phototherapy Equipment Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Phototherapy Equipment Market
10.2.6.1.1 Germany Phototherapy Equipment Market by Product
10.2.6.1.2 Germany Phototherapy Equipment Market by Application
10.2.6.1.3 Germany Phototherapy Equipment Market by End User
10.2.6.2 France Phototherapy Equipment Market
10.2.6.2.1 France Phototherapy Equipment Market by Product
10.2.6.2.2 France Phototherapy Equipment Market by Application
10.2.6.2.3 France Phototherapy Equipment Market by End User
10.2.6.3 Italy Phototherapy Equipment Market
10.2.6.3.1 Italy Phototherapy Equipment Market by Product
10.2.6.3.2 Italy Phototherapy Equipment Market by Application
10.2.6.3.3 Italy Phototherapy Equipment Market by End User
10.2.6.4 Spain Phototherapy Equipment Market
10.2.6.4.1 Spain Phototherapy Equipment Market by Product
10.2.6.4.2 Spain Phototherapy Equipment Market by Application
10.2.6.4.3 Spain Phototherapy Equipment Market by End User
10.2.6.5 United Kingdom Phototherapy Equipment Market
10.2.6.5.1 United Kingdom Phototherapy Equipment Market by Product
10.2.6.5.2 United Kingdom Phototherapy Equipment Market by Application
10.2.6.5.3 United Kingdom Phototherapy Equipment Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Phototherapy Equipment Market Overview
10.3.2 Asia-Pacific Phototherapy Equipment Market Forecasts and Analysis
10.3.3 Asia-Pacific Phototherapy Equipment Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Phototherapy Equipment Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Phototherapy Equipment Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Phototherapy Equipment Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Phototherapy Equipment Market
10.3.6.1.1 Australia Phototherapy Equipment Market by Product
10.3.6.1.2 Australia Phototherapy Equipment Market by Application
10.3.6.1.3 Australia Phototherapy Equipment Market by End User
10.3.6.2 China Phototherapy Equipment Market
10.3.6.2.1 China Phototherapy Equipment Market by Product
10.3.6.2.2 China Phototherapy Equipment Market by Application
10.3.6.2.3 China Phototherapy Equipment Market by End User
10.3.6.3 India Phototherapy Equipment Market
10.3.6.3.1 India Phototherapy Equipment Market by Product
10.3.6.3.2 India Phototherapy Equipment Market by Application
10.3.6.3.3 India Phototherapy Equipment Market by End User
10.3.6.4 Japan Phototherapy Equipment Market
10.3.6.4.1 Japan Phototherapy Equipment Market by Product
10.3.6.4.2 Japan Phototherapy Equipment Market by Application
10.3.6.4.3 Japan Phototherapy Equipment Market by End User
10.3.6.5 South Korea Phototherapy Equipment Market
10.3.6.5.1 South Korea Phototherapy Equipment Market by Product
10.3.6.5.2 South Korea Phototherapy Equipment Market by Application
10.3.6.5.3 South Korea Phototherapy Equipment Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Phototherapy Equipment Market Overview
10.4.2 Middle East and Africa Phototherapy Equipment Market Forecasts and Analysis
10.4.3 Middle East and Africa Phototherapy Equipment Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Phototherapy Equipment Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Phototherapy Equipment Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Phototherapy Equipment Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Phototherapy Equipment Market
10.4.6.1.1 South Africa Phototherapy Equipment Market by Product
10.4.6.1.2 South Africa Phototherapy Equipment Market by Application
10.4.6.1.3 South Africa Phototherapy Equipment Market by End User
10.4.6.2 Saudi Arabia Phototherapy Equipment Market
10.4.6.2.1 Saudi Arabia Phototherapy Equipment Market by Product
10.4.6.2.2 Saudi Arabia Phototherapy Equipment Market by Application
10.4.6.2.3 Saudi Arabia Phototherapy Equipment Market by End User
10.4.6.3 U.A.E Phototherapy Equipment Market
10.4.6.3.1 U.A.E Phototherapy Equipment Market by Product
10.4.6.3.2 U.A.E Phototherapy Equipment Market by Application
10.4.6.3.3 U.A.E Phototherapy Equipment Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Phototherapy Equipment Market Overview
10.5.2 South and Central America Phototherapy Equipment Market Forecasts and Analysis
10.5.3 South and Central America Phototherapy Equipment Market Forecasts and Analysis - By Product
10.5.4 South and Central America Phototherapy Equipment Market Forecasts and Analysis - By Application
10.5.5 South and Central America Phototherapy Equipment Market Forecasts and Analysis - By End User
10.5.6 South and Central America Phototherapy Equipment Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Phototherapy Equipment Market
10.5.6.1.1 Brazil Phototherapy Equipment Market by Product
10.5.6.1.2 Brazil Phototherapy Equipment Market by Application
10.5.6.1.3 Brazil Phototherapy Equipment Market by End User
10.5.6.2 Argentina Phototherapy Equipment Market
10.5.6.2.1 Argentina Phototherapy Equipment Market by Product
10.5.6.2.2 Argentina Phototherapy Equipment Market by Application
10.5.6.2.3 Argentina Phototherapy Equipment 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. PHOTOTHERAPY EQUIPMENT MARKET, KEY COMPANY PROFILES
12.1. KONINKLIJKE PHILIPS N.V.
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. GENERAL ELECTRIC
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. NATUS MEDICAL, INC.
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. HERBERT WALDMANN GMBH AND CO. KG
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. NICE NEOTECH MEDICAL SYSTEMS PVT. LTD.
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. PHOENIX MEDICAL SYSTEMS PVT. LTD
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. NATIONAL BIOLOGICAL CORP.
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. SOLARC SYSTEMS INC.
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. DRäGERWERK AG AND CO. KGAA
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. ATOM MEDICAL CORPORATION
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. Koninklijke Philips N.V.2. General Electric3. Natus Medical, Inc.4. Herbert Waldmann GmbH and Co. KG5. Nice Neotech Medical Systems Pvt. Ltd.6. Phoenix Medical Systems Pvt. Ltd7. National Biological Corp.8. Solarc Systems Inc.9. Drägerwerk AG and Co. KGaA10. Atom Medical Corporation
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