The Stoma Care Market is expected to register a CAGR of 5.2% 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 Product Type (Closed Bags, Open/ drainable Bags, One-piece Bags, Two-piece Bags, and Others); Application (Colostomy, Ileostomy, and Urostomy). The report further presents analysis based on the End Use (Homecare Settings, Hospitals, and Others). 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 Stoma Care 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.
Stoma Care Market Segmentation
Product Type- Closed Bags
- Open/ drainable Bags
- One-piece Bags
- Two-piece Bags
- Others
- Colostomy
- Ileostomy
- Urostomy
- Homecare Settings
- Hospitals
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Stoma Care Market Growth Drivers- Increasing number of cases of stoma surgery: Rising surgeries among patients with colorectal cancer, Crohn's disease, and diverticulitis has driven the growth of the stoma care market. The greater the number of patients who receive a colostomy, an ileostomy, and a urostomy, the more is the demand for the products included in the range of stoma care items: bags, adhesives, and accessories.
- Aging population: One of the major drivers for the stoma care market is the aging population around the world. Older adults tend to have more conditions such as cancer or bladder dysfunction that can require stoma surgeries, leading to an increased market for stoma care products. The demographic trend will create a demand for better and more comfortable solutions of stoma management.
- Technological advancements in the stoma care products: The improved designs for bags, better adhesives that do not irritate the skin, and use of skin-friendly materials enhance patient comfort and convenience. Such improvements contribute to better outcomes and satisfaction, which again propels the adoption of these products and fuels growth in the stoma care market.
- Personalized Stoma Care Solutions: There is an increased trend towards customized stoma care products designed for specific needs of patients. More use of custom-fit stoma bags, skin barriers, and accessories designed for the patient's body type and conditions will promote better patient comfort and lifestyle while pushing innovation in the market.
- Home Healthcare Adoption: The trend toward home healthcare is promoting the stoma care market as more patients take their care at home. Patients are gaining easy access to home-based treatments, including stoma care products, thereby enabling them to monitor and manage their stoma care regimen, thereby ensuring convenience and independence in their daily lives.
- Focus on Comfort and Skin Protection: Whereby patients look for comfortable protection, the market is headed in the direction of stoma care products that reduce the potential for irritation to the skin as well as improve adhesiveness. Demand for long-lasting breathable and hypoallergenic materials will continue pushing towards innovations to enhance the comfort of skin protection to the wearer.
- Emerging Markets: Growth Opportunity for Stoma Care Market Stoma care is likely to experience growth in emerging markets such as Asia-Pacific and Latin America. Improvement in health care access, increasing stoma care awareness, and thus a greater demand for stoma management products, present new market opportunities for manufacturers.
- Innovative smart stoma care products: There is potential in developing smart stoma care products that integrate technology such as sensors that monitor bag fullness, leaks, or skin health. Such products can enhance patients' ability to take control of their stoma management; hence, they could appeal to tech-savvy patients who value convenience and would enjoy improved care.
- Alliances with stakeholders: Manufacturer can collaborate with health care providers, such as hospitals, clinics, or rehabilitation centers, to supply comprehensive stoma care solutions-educational resources and support-that will help patients transition out of the hospital and into a home care environment, making it easier for them to adopt the product and their condition, thereby benefiting them and their providers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Stoma Care 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 Stoma Care 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.
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- 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
Asia-Pacific region is likely to witness the fastest growth rate during the forecast period.
The market drivers include increasing number of stoma surgeries due to conditions like colorectal cancer, Crohn's disease, and diverticulitis, and technological advancements in stoma care products, such as improved bag designs, more comfortable adhesives, and skin-friendly materials are driving the stoma care.
The stoma care market is estimated to grow with a CAGR of 5.2% from 2023 to 2031.
Personalized stoma care solutions are likely to remain the key trend during the forecast period.
The stoma care majorly consists of players such ALCARE CO., LTD., BRAUN MELSUNGEN AG, COLOPLAST A/S among others.
North America dominated the stoma care market in 2023.
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 Stoma Care Market - By Product Type
1.3.2 Stoma Care Market - By Application
1.3.3 Stoma Care Market - By End Use
1.3.4 Stoma Care Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STOMA CARE 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. STOMA CARE 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 AND RESTRAINTS
6. STOMA CARE MARKET - GLOBAL MARKET ANALYSIS
6.1. STOMA CARE - GLOBAL MARKET OVERVIEW
6.2. STOMA CARE - GLOBAL MARKET AND FORECAST TO 2030
6.3. MARKET POSITIONING
7. STOMA CARE MARKET - REVENUE AND FORECASTS TO 2030 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLOSED BAGS
7.3.1. Overview
7.3.2. Closed Bags Market Forecast and Analysis
7.4. OPEN/ DRAINABLE BAGS
7.4.1. Overview
7.4.2. Open/ drainable Bags Market Forecast and Analysis
7.5. ONE-PIECE BAGS
7.5.1. Overview
7.5.2. One-piece Bags Market Forecast and Analysis
7.6. TWO-PIECE BAGS
7.6.1. Overview
7.6.2. Two-piece Bags Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. STOMA CARE MARKET - REVENUE AND FORECASTS TO 2030 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. COLOSTOMY
8.3.1. Overview
8.3.2. Colostomy Market Forecast and Analysis
8.4. ILEOSTOMY
8.4.1. Overview
8.4.2. Ileostomy Market Forecast and Analysis
8.5. UROSTOMY
8.5.1. Overview
8.5.2. Urostomy Market Forecast and Analysis
9. STOMA CARE MARKET - REVENUE AND FORECASTS TO 2030 - END USE
9.1. OVERVIEW
9.2. END USE MARKET FORECASTS AND ANALYSIS
9.3. HOMECARE SETTINGS
9.3.1. Overview
9.3.2. Homecare Settings Market Forecast and Analysis
9.4. HOSPITALS
9.4.1. Overview
9.4.2. Hospitals Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. STOMA CARE MARKET REVENUE AND FORECASTS TO 2030 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Stoma Care Market Overview
10.1.2 North America Stoma Care Market Forecasts and Analysis
10.1.3 North America Stoma Care Market Forecasts and Analysis - By Product Type
10.1.4 North America Stoma Care Market Forecasts and Analysis - By Application
10.1.5 North America Stoma Care Market Forecasts and Analysis - By End Use
10.1.6 North America Stoma Care Market Forecasts and Analysis - By Countries
10.1.6.1 United States Stoma Care Market
10.1.6.1.1 United States Stoma Care Market by Product Type
10.1.6.1.2 United States Stoma Care Market by Application
10.1.6.1.3 United States Stoma Care Market by End Use
10.1.6.2 Canada Stoma Care Market
10.1.6.2.1 Canada Stoma Care Market by Product Type
10.1.6.2.2 Canada Stoma Care Market by Application
10.1.6.2.3 Canada Stoma Care Market by End Use
10.1.6.3 Mexico Stoma Care Market
10.1.6.3.1 Mexico Stoma Care Market by Product Type
10.1.6.3.2 Mexico Stoma Care Market by Application
10.1.6.3.3 Mexico Stoma Care Market by End Use
10.2. EUROPE
10.2.1 Europe Stoma Care Market Overview
10.2.2 Europe Stoma Care Market Forecasts and Analysis
10.2.3 Europe Stoma Care Market Forecasts and Analysis - By Product Type
10.2.4 Europe Stoma Care Market Forecasts and Analysis - By Application
10.2.5 Europe Stoma Care Market Forecasts and Analysis - By End Use
10.2.6 Europe Stoma Care Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Stoma Care Market
10.2.6.1.1 Germany Stoma Care Market by Product Type
10.2.6.1.2 Germany Stoma Care Market by Application
10.2.6.1.3 Germany Stoma Care Market by End Use
10.2.6.2 France Stoma Care Market
10.2.6.2.1 France Stoma Care Market by Product Type
10.2.6.2.2 France Stoma Care Market by Application
10.2.6.2.3 France Stoma Care Market by End Use
10.2.6.3 Italy Stoma Care Market
10.2.6.3.1 Italy Stoma Care Market by Product Type
10.2.6.3.2 Italy Stoma Care Market by Application
10.2.6.3.3 Italy Stoma Care Market by End Use
10.2.6.4 Spain Stoma Care Market
10.2.6.4.1 Spain Stoma Care Market by Product Type
10.2.6.4.2 Spain Stoma Care Market by Application
10.2.6.4.3 Spain Stoma Care Market by End Use
10.2.6.5 United Kingdom Stoma Care Market
10.2.6.5.1 United Kingdom Stoma Care Market by Product Type
10.2.6.5.2 United Kingdom Stoma Care Market by Application
10.2.6.5.3 United Kingdom Stoma Care Market by End Use
10.2.6.6 Rest of Europe Stoma Care Market
10.2.6.6.1 Rest of Europe Stoma Care Market by Product Type
10.2.6.6.2 Rest of Europe Stoma Care Market by Application
10.2.6.6.3 Rest of Europe Stoma Care Market by End Use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Stoma Care Market Overview
10.3.2 Asia-Pacific Stoma Care Market Forecasts and Analysis
10.3.3 Asia-Pacific Stoma Care Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Stoma Care Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Stoma Care Market Forecasts and Analysis - By End Use
10.3.6 Asia-Pacific Stoma Care Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Stoma Care Market
10.3.6.1.1 Australia Stoma Care Market by Product Type
10.3.6.1.2 Australia Stoma Care Market by Application
10.3.6.1.3 Australia Stoma Care Market by End Use
10.3.6.2 China Stoma Care Market
10.3.6.2.1 China Stoma Care Market by Product Type
10.3.6.2.2 China Stoma Care Market by Application
10.3.6.2.3 China Stoma Care Market by End Use
10.3.6.3 India Stoma Care Market
10.3.6.3.1 India Stoma Care Market by Product Type
10.3.6.3.2 India Stoma Care Market by Application
10.3.6.3.3 India Stoma Care Market by End Use
10.3.6.4 Japan Stoma Care Market
10.3.6.4.1 Japan Stoma Care Market by Product Type
10.3.6.4.2 Japan Stoma Care Market by Application
10.3.6.4.3 Japan Stoma Care Market by End Use
10.3.6.5 South Korea Stoma Care Market
10.3.6.5.1 South Korea Stoma Care Market by Product Type
10.3.6.5.2 South Korea Stoma Care Market by Application
10.3.6.5.3 South Korea Stoma Care Market by End Use
10.3.6.6 Rest of Asia-Pacific Stoma Care Market
10.3.6.6.1 Rest of Asia-Pacific Stoma Care Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Stoma Care Market by Application
10.3.6.6.3 Rest of Asia-Pacific Stoma Care Market by End Use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Stoma Care Market Overview
10.4.2 Middle East and Africa Stoma Care Market Forecasts and Analysis
10.4.3 Middle East and Africa Stoma Care Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Stoma Care Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Stoma Care Market Forecasts and Analysis - By End Use
10.4.6 Middle East and Africa Stoma Care Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Stoma Care Market
10.4.6.1.1 South Africa Stoma Care Market by Product Type
10.4.6.1.2 South Africa Stoma Care Market by Application
10.4.6.1.3 South Africa Stoma Care Market by End Use
10.4.6.2 Saudi Arabia Stoma Care Market
10.4.6.2.1 Saudi Arabia Stoma Care Market by Product Type
10.4.6.2.2 Saudi Arabia Stoma Care Market by Application
10.4.6.2.3 Saudi Arabia Stoma Care Market by End Use
10.4.6.3 U.A.E Stoma Care Market
10.4.6.3.1 U.A.E Stoma Care Market by Product Type
10.4.6.3.2 U.A.E Stoma Care Market by Application
10.4.6.3.3 U.A.E Stoma Care Market by End Use
10.4.6.4 Rest of Middle East and Africa Stoma Care Market
10.4.6.4.1 Rest of Middle East and Africa Stoma Care Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Stoma Care Market by Application
10.4.6.4.3 Rest of Middle East and Africa Stoma Care Market by End Use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Stoma Care Market Overview
10.5.2 South and Central America Stoma Care Market Forecasts and Analysis
10.5.3 South and Central America Stoma Care Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Stoma Care Market Forecasts and Analysis - By Application
10.5.5 South and Central America Stoma Care Market Forecasts and Analysis - By End Use
10.5.6 South and Central America Stoma Care Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Stoma Care Market
10.5.6.1.1 Brazil Stoma Care Market by Product Type
10.5.6.1.2 Brazil Stoma Care Market by Application
10.5.6.1.3 Brazil Stoma Care Market by End Use
10.5.6.2 Argentina Stoma Care Market
10.5.6.2.1 Argentina Stoma Care Market by Product Type
10.5.6.2.2 Argentina Stoma Care Market by Application
10.5.6.2.3 Argentina Stoma Care Market by End Use
10.5.6.3 Rest of South and Central America Stoma Care Market
10.5.6.3.1 Rest of South and Central America Stoma Care Market by Product Type
10.5.6.3.2 Rest of South and Central America Stoma Care Market by Application
10.5.6.3.3 Rest of South and Central America Stoma Care Market by End Use
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL STOMA CARE MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. STOMA CARE MARKET, KEY COMPANY PROFILES
13.1. ALCARE CO., LTD.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BRAUN MELSUNGEN AG
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. COLOPLAST A/S
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CONVATEC GROUP PLC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. CYMED
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. HOLLISTER INC.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MARLEN MANUFACTURING AND DEVELOPMENT CO.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. NU-HOPE LABORATORIES
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. PERMA-TYPE COMPANY, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SALTS HEALTHCARE
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. ALCARE CO., LTD.
2. BRAUN MELSUNGEN AG
3. COLOPLAST A/S
4. CONVATEC GROUP PLC.
5. CYMED
6. HOLLISTER INC.
7. MARLEN MANUFACTURING & DEVELOPMENT CO.
8. NU-HOPE LABORATORIES
9. PERMA-TYPE COMPANY, INC.
10. SALTS HEALTHCARE
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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