AI-based surgical robots Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: AI-based surgical robots Market covers analysis By Product Type (Services, Instrument and Accessories); Application (General Surgery, Urology, Orthopedic, Gynecology, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00023653
  • Category : Healthcare IT
  • Status : Upcoming
  • No. of Pages : 150
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MARKET OVERVIEW

AI-based medical robots are known for their role in surgeries and are widely utilized in the healthcare industry. These robots allow doctors to perform complex surgical procedures with more precision and flexibility than the conventional technique. They are mainly used for precisely handling surgical devices during various kinds of surgical procedures. The surgical robots perform the surgery by making small incisions. Mainly they comprise a camera arm, mechanical arm, and surgical instruments. Integration of these robots acts as a shielding layer between healthcare employee and patient by offering physical separation as the surgeon controls all the robot's activity by sitting at the computer. The use of surgical robots also reduces the risk of contamination along with maintaining surgical volumes.

MARKET SCOPE

The "Global AI-Based Surgical Robots Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the AI-based surgical robots market with detailed market segmentation by product type, application, and geography. The report provides key statistics on the market status of the leading AI-based surgical robots market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

    - Based on product type, the global AI-based surgical robots market is segmented into services, instrument and accessories.
    - Based on application, the market is segmented into general surgery, urology, orthopedic, gynecology and others.

MARKET DYNAMICS
Drivers:

    - Increasing incidences of chronic diseases and technological advancement in surgical robots drive the AI-based surgical robots market growth.
    - Rising minimally invasive surgeries and shift from traditional surgical procedures to AI-based approaches boost the market growth.
    - Rising public awareness and enhanced patient safety and compliance fuel the market growth.

Restraints:

    - The need for special skills for performing robotic surgery.
    - High cost of these surgeries.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The AI-based surgical robots market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AI-based surgical robots market in these regions.

IMPACT OF COVID-19 ON AI-BASED SURGICAL ROBOTS MARKET

COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The outbreak of the COVID pandemic has impacted the growth of the AI-based surgical robots market as worldwide lockdown was imposed. To reduce the infection transmission rate and prioritize the treatment of the Covid patients, elective surgeries were canceled or delayed across the world. This led to a decline in new product acquisition by healthcare facilities. However, with the removal of restrictive measures, a shift toward robotic surgery can be witnessed. As robots in surgery reduce the duration of surgeries, reduce infections in patients and provide fewer interactions between the patient and medical staff, their use is likely to be increased. Also, for clearing the backlog of elective surgeries, these robots will be used. Hence, the market is expected to grow significantly in the future.

World Geography

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The AI-based surgical robots market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AI-based surgical robots market in these regions.

IMPACT OF COVID-19 ON AI-BASED SURGICAL ROBOTS MARKET

COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The outbreak of the COVID pandemic has impacted the growth of the AI-based surgical robots market as worldwide lockdown was imposed. To reduce the infection transmission rate and prioritize the treatment of the Covid patients, elective surgeries were canceled or delayed across the world. This led to a decline in new product acquisition by healthcare facilities. However, with the removal of restrictive measures, a shift toward robotic surgery can be witnessed. As robots in surgery reduce the duration of surgeries, reduce infections in patients and provide fewer interactions between the patient and medical staff, their use is likely to be increased. Also, for clearing the backlog of elective surgeries, these robots will be used. Hence, the market is expected to grow significantly in the future.

MARKET PLAYERS

The report covers key developments in the AI-based surgical robots market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from AI-based surgical robots market are anticipated to have lucrative growth opportunities in the future with the rising demand for AI-based surgical robots in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the AI-based surgical robots market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

    - Zimmer Biomet
    - Medtronic, Plc
    - Stryker Corporation
    - TransEnterix
    - Activ Surgical, Inc.
    - Stereotaxis, Inc.
    - Medrobotics Corporation
    - Intuitive Surgical, Inc.
    - Accuray Incorporated
    - Hansen Medical
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
  • 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
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

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 AI-based Surgical Robots Market - By Product Type
1.3.2 AI-based Surgical Robots Market - By Application
1.3.3 AI-based Surgical Robots Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. AI-BASED SURGICAL ROBOTS 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. AI-BASED SURGICAL ROBOTS 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. AI-BASED SURGICAL ROBOTS MARKET - GLOBAL MARKET ANALYSIS
6.1. AI-BASED SURGICAL ROBOTS - GLOBAL MARKET OVERVIEW
6.2. AI-BASED SURGICAL ROBOTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. AI-BASED SURGICAL ROBOTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SERVICES
7.3.1. Overview
7.3.2. Services Market Forecast and Analysis
7.4. INSTRUMENT AND ACCESSORIES
7.4.1. Overview
7.4.2. Instrument and Accessories Market Forecast and Analysis
8. AI-BASED SURGICAL ROBOTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. GENERAL SURGERY
8.3.1. Overview
8.3.2. General Surgery Market Forecast and Analysis
8.4. UROLOGY
8.4.1. Overview
8.4.2. Urology Market Forecast and Analysis
8.5. ORTHOPEDIC
8.5.1. Overview
8.5.2. Orthopedic Market Forecast and Analysis
8.6. GYNECOLOGY
8.6.1. Overview
8.6.2. Gynecology Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis

9. AI-BASED SURGICAL ROBOTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America AI-based Surgical Robots Market Overview
9.1.2 North America AI-based Surgical Robots Market Forecasts and Analysis
9.1.3 North America AI-based Surgical Robots Market Forecasts and Analysis - By Product Type
9.1.4 North America AI-based Surgical Robots Market Forecasts and Analysis - By Application
9.1.5 North America AI-based Surgical Robots Market Forecasts and Analysis - By Countries
9.1.5.1 Canada AI-based Surgical Robots Market
9.1.5.1.1 Canada AI-based Surgical Robots Market by Product Type
9.1.5.1.2 Canada AI-based Surgical Robots Market by Application
9.1.5.2 Mexico AI-based Surgical Robots Market
9.1.5.2.1 Mexico AI-based Surgical Robots Market by Product Type
9.1.5.2.2 Mexico AI-based Surgical Robots Market by Application
9.1.5.3 US AI-based Surgical Robots Market
9.1.5.3.1 US AI-based Surgical Robots Market by Product Type
9.1.5.3.2 US AI-based Surgical Robots Market by Application
9.2. EUROPE
9.2.1 Europe AI-based Surgical Robots Market Overview
9.2.2 Europe AI-based Surgical Robots Market Forecasts and Analysis
9.2.3 Europe AI-based Surgical Robots Market Forecasts and Analysis - By Product Type
9.2.4 Europe AI-based Surgical Robots Market Forecasts and Analysis - By Application
9.2.5 Europe AI-based Surgical Robots Market Forecasts and Analysis - By Countries
9.2.5.1 Germany AI-based Surgical Robots Market
9.2.5.1.1 Germany AI-based Surgical Robots Market by Product Type
9.2.5.1.2 Germany AI-based Surgical Robots Market by Application
9.2.5.2 France AI-based Surgical Robots Market
9.2.5.2.1 France AI-based Surgical Robots Market by Product Type
9.2.5.2.2 France AI-based Surgical Robots Market by Application
9.2.5.3 Italy AI-based Surgical Robots Market
9.2.5.3.1 Italy AI-based Surgical Robots Market by Product Type
9.2.5.3.2 Italy AI-based Surgical Robots Market by Application
9.2.5.4 Spain AI-based Surgical Robots Market
9.2.5.4.1 Spain AI-based Surgical Robots Market by Product Type
9.2.5.4.2 Spain AI-based Surgical Robots Market by Application
9.2.5.5 United Kingdom AI-based Surgical Robots Market
9.2.5.5.1 United Kingdom AI-based Surgical Robots Market by Product Type
9.2.5.5.2 United Kingdom AI-based Surgical Robots Market by Application
9.2.5.6 Rest of Europe AI-based Surgical Robots Market
9.2.5.6.1 Rest of Europe AI-based Surgical Robots Market by Product Type
9.2.5.6.2 Rest of Europe AI-based Surgical Robots Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific AI-based Surgical Robots Market Overview
9.3.2 Asia-Pacific AI-based Surgical Robots Market Forecasts and Analysis
9.3.3 Asia-Pacific AI-based Surgical Robots Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific AI-based Surgical Robots Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific AI-based Surgical Robots Market Forecasts and Analysis - By Countries
9.3.5.1 Australia AI-based Surgical Robots Market
9.3.5.1.1 Australia AI-based Surgical Robots Market by Product Type
9.3.5.1.2 Australia AI-based Surgical Robots Market by Application
9.3.5.2 China AI-based Surgical Robots Market
9.3.5.2.1 China AI-based Surgical Robots Market by Product Type
9.3.5.2.2 China AI-based Surgical Robots Market by Application
9.3.5.3 India AI-based Surgical Robots Market
9.3.5.3.1 India AI-based Surgical Robots Market by Product Type
9.3.5.3.2 India AI-based Surgical Robots Market by Application
9.3.5.4 Japan AI-based Surgical Robots Market
9.3.5.4.1 Japan AI-based Surgical Robots Market by Product Type
9.3.5.4.2 Japan AI-based Surgical Robots Market by Application
9.3.5.5 South Korea AI-based Surgical Robots Market
9.3.5.5.1 South Korea AI-based Surgical Robots Market by Product Type
9.3.5.5.2 South Korea AI-based Surgical Robots Market by Application
9.3.5.6 Rest of Asia-Pacific AI-based Surgical Robots Market
9.3.5.6.1 Rest of Asia-Pacific AI-based Surgical Robots Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific AI-based Surgical Robots Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa AI-based Surgical Robots Market Overview
9.4.2 Middle East and Africa AI-based Surgical Robots Market Forecasts and Analysis
9.4.3 Middle East and Africa AI-based Surgical Robots Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa AI-based Surgical Robots Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa AI-based Surgical Robots Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa AI-based Surgical Robots Market
9.4.5.1.1 South Africa AI-based Surgical Robots Market by Product Type
9.4.5.1.2 South Africa AI-based Surgical Robots Market by Application
9.4.5.2 Saudi Arabia AI-based Surgical Robots Market
9.4.5.2.1 Saudi Arabia AI-based Surgical Robots Market by Product Type
9.4.5.2.2 Saudi Arabia AI-based Surgical Robots Market by Application
9.4.5.3 U.A.E AI-based Surgical Robots Market
9.4.5.3.1 U.A.E AI-based Surgical Robots Market by Product Type
9.4.5.3.2 U.A.E AI-based Surgical Robots Market by Application
9.4.5.4 Rest of Middle East and Africa AI-based Surgical Robots Market
9.4.5.4.1 Rest of Middle East and Africa AI-based Surgical Robots Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa AI-based Surgical Robots Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America AI-based Surgical Robots Market Overview
9.5.2 South and Central America AI-based Surgical Robots Market Forecasts and Analysis
9.5.3 South and Central America AI-based Surgical Robots Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America AI-based Surgical Robots Market Forecasts and Analysis - By Application
9.5.5 South and Central America AI-based Surgical Robots Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil AI-based Surgical Robots Market
9.5.5.1.1 Brazil AI-based Surgical Robots Market by Product Type
9.5.5.1.2 Brazil AI-based Surgical Robots Market by Application
9.5.5.2 Argentina AI-based Surgical Robots Market
9.5.5.2.1 Argentina AI-based Surgical Robots Market by Product Type
9.5.5.2.2 Argentina AI-based Surgical Robots Market by Application
9.5.5.3 Rest of South and Central America AI-based Surgical Robots Market
9.5.5.3.1 Rest of South and Central America AI-based Surgical Robots Market by Product Type
9.5.5.3.2 Rest of South and Central America AI-based Surgical Robots Market by Application

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. AI-BASED SURGICAL ROBOTS MARKET, KEY COMPANY PROFILES
11.1. ZIMMER BIOMET
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. MEDTRONIC, PLC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. STRYKER CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. TRANSENTERIX
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ACTIV SURGICAL, INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. STEREOTAXIS, INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MEDROBOTICS CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. INTUITIVE SURGICAL, INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. ACCURAY INCORPORATED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. HANSEN MEDICAL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

- Zimmer Biomet
- Medtronic, Plc
- Stryker Corporation
- TransEnterix
- Activ Surgical, Inc.
- Stereotaxis, Inc.
- Medrobotics Corporation
- Intuitive Surgical, Inc.
- Accuray Incorporated
- Hansen Medical

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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