Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market to Grow at a CAGR of 14.4% to reach US$ 689.47 Million from 2020 to 2027

Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product (Intra-Aortic Balloon Pumps, VA-Extracorporeal Membrane Oxygenators (ECMO), and Short-Term Ventricular Assist Devices); End User (Hospitals, Ambulatory Surgical Centers, and Others); and Country

  • Report Code : TIPRE00018224
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 105
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The Asia Pacific percutaneous mechanical circulatory support devices market is expected to reach US$ 689.47 million by 2027 from US$ 240.88 million in 2019; it is estimated to grow at a CAGR of 14.4% from 2020 to 2027.

The rising geriatric population, increasing prevalence of cardiovascular diseases and shortage of heart donors are the key factors driving the growth of percutaneous mechanical circulatory support devices. However, high costs of these devices and procedures associated with them, and impact of COVID-19 pandemic on medical device industry is the major factor hindering the market growth in Asia Pacific.

Percutaneous mechanical circulatory support devices offers an effective and rapid approach to slow the downward spiral of hemodynamic instability among patients suffering with decompensated heart failures and cardiogenic shocks till a more definitive strategy is perceived among patients to recover from these cardiac ailments. The major roles of the percutaneous mechanical circulatory support devices include improving the native cardiac output, reducing ventricular volume and filling pressures, augmenting coronary perfusion, and maintaining vital organ perfusion.

The percutaneous mechanical circulatory support devices are majorly used as a bridge to help patients suffering from cardiogenic shocks and heart failures. These disease conditions usually fall under the most commonly encountered cardiovascular diseases, which have a high burden and prevalence. In spite of the increase in the attribute of metabolic disorders to the incidence of cardiovascular disease (CVD), hypertension remains the most important risk factor in Japanese people. According to the Public Health Center-based prospective (JPHC) Study conducted in March 2017, cardiovascular disease is an established risk factor of stroke and heart failure in many older individuals too.

Heart disease is the leading cause of death for people in Asia Pacific. according to the American Health Association Journal, in 2016, the estimated prevalence of CVDs in India was estimated to be 54.5 million. 1 in 4 deaths in India are because of CVDs with ischemic heart disease and stroke responsible for >80% of this burden. For instance, the Global Burden of Disease (GBD) study estimate of age-standardized CVD death rate of 272 per 100 000 population in India is higher than the global average of 235 per 100 000 population.

Various research studies show that improvements and experience with percutaneous mechanical circulatory support may offer the prospect of better outcomes. Thus, the high prevalence of cardiovascular diseases that majorly includes heart failure conditions rising across Asia Pacific region to which mechanical circulatory devices have emerged as potential solutions for patients’ treatment is likely to boost the growth of the percutaneous mechanical circulatory support devices market

Covid-19 pandemic is making its way to all Asia Pacific countries. Due to growing COVID-19, these countries are expecting to witness a huge challenge and are expected to affect largely to healthcare industries in the current situation. Due to growing COVID-19, healthcare professionals are taking precautions ensure that appropriate work practices are followed to prevent direct contact with infectious material, percutaneous injury and hazards related to moving heavy remains. In India, it has been reported the total number of confirmed cases has been increased to 33,000 with 1000 death. Similarly, in China, 84,400 confirmed cases and 4,600 deaths are reported. These numbers are changing owing to various factors such as the prevalence of chronic disease patients, surgeries, population density in regions, and other factors. Restrictive measures have been taken to control the spread of this pandemic. Moreover, due to surgeries, the number of COVID-19 numbers is also growing. This pandemic is affecting the business operation of the various key players operating in this region.

Rest of Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, Revenue and Forecast to 2027 (US$ Mn)

Rest of Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, Revenue and Forecast to 2027 (US$ Mn)

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ASIA PACIFIC PERCUTANEOUS MECHANICAL CIRCULATORY SUPPORT DEVICES MARKET SEGMENTATION

By Product

  • Intra-Aortic Balloon Pumps
  • VA-Extracorporeal Membrane Oxygenation (ECMO)
  • Short-Term Ventricular Assist Devices (VADs)
    • Impella
    • Tandem Heart

By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

By Country

  • China
  • Japan
  • India
  • Australia
  • South Korea

Company Profiles

  • Abbott
  • Livanova Plc (Cardiacassist, Inc)
  • Eurosets
  • Berlin Heart
  • Medtronic
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Product, End User, and Country

Regional Scope
Regional Scope

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

Country Scope
Country Scope

Australia, China, Japan, South Korea

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Asia Pacific Percutaneous mechanical circulatory support devices Market – By Product

1.3.2 Asia Pacific Percutaneous mechanical circulatory support devices Market– By End User

1.3.3 Asia Pacific Percutaneous mechanical circulatory support devices Market – By Country

2. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market – Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 Asia Pacific – PEST Analysis

4.3 Expert Opinion

5. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market - Key Market Dynamics

5.1 Key Market Drivers

5.1.1 Rising Geriatric Population

5.1.2 Increasing Prevalence of Cardiovascular Diseases & Heart Failures

5.1.3 Shortage of Heart Donors

5.2 Key Market Restraints

5.2.1 High Cost of Products and Procedures

5.2.2 Impact of COVID-19 Pandemic on Medical Device Industry

5.3 Key Market Opportunity

5.3.1 Growing Market In The Developing Economies

5.4 Market Trend

5.4.1 Growing Reimbursement for Cardiac Surgery

5.5 Impact Analysis

6. Percutaneous Mechanical Circulatory Support Devices Market – Asia Pacific Analysis

6.1 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue Forecasts and Analysis

7. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Analysis and Forecasts To 2027 – By Type

7.1 Overview

7.2 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, By Type 2019 & 2027 (%)

7.2.1 Asia Pacific Percutaneous mechanical circulatory support devices Market Revenue and Forecasts to 2027, By Type (US$ Mn)

7.3 Intra-Aortic Balloon Pumps Market

7.3.1 Overview

7.3.2 Asia Pacific Intra-Aortic Balloon Pumps Market Revenue and Forecast to 2027 (US$ Mn)

7.4 VA-Extracorporeal Membrane Oxygenation (ECMO) Market

7.4.1 Overview

7.4.1.1 Asia Pacific VA-Extracorporeal Membrane Oxygenation (ECMO) Market Revenue and Forecasts to 2027 (US$ Mn)

7.5 Short Term Ventricular Assist Devices Market

7.5.1 Overview

7.5.2 Asia Pacific Short Term Ventricular Assist Devices Market Revenue and Forecast to 2027 (US$ Mn)

7.5.3 Impella Market

7.5.3.1 Overview

7.5.3.2 Asia Pacific Impella Market Revenue and Forecast to 2027 (US$ Mn)

7.5.4 Tandem Heart Market

7.5.4.1 Overview

7.5.4.2 Asia Pacific Tandem Heart Market Revenue and Forecasts to 2027 (US$ Mn)

8. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Analysis – By End-User

8.1 Overview

8.2 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, By End-User 2019-2027 (%)

8.2.1 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecasts to 2027, By End-User (US$ Mn)

8.3 Hospitals Market

8.3.1 Overview

8.3.2 Asia Pacific Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)

8.4 Ambulatory Surgical Centers Market

8.4.1 Overview

8.4.2 Asia Pacific Ambulatory Surgical Centers Market Revenue and Forecasts to 2027 (US$ Mn)

8.5 Others Market

8.5.1 Overview

8.5.2 Asia Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)

9. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027

9.1 Overview

9.2 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.3 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

9.3.1 Asia Pacific Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.4 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

9.5 Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Country (%)

9.6 Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.6.1 Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecast to 2027 (US$ Mn)

9.6.2 Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By Product (US$ Mn)

9.6.2.1 Japan Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.6.3 Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By End user (US$ Mn)

9.7 China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.7.1 China Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecast to 2027 (US$ Mn)

9.7.2 China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By Product (US$ Mn)

9.7.2.1 China Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.7.3 China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By End user (US$ Mn)

9.8 India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.8.1 India Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecast to 2027 (US$ Mn)

9.8.2 India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By Product (US$ Mn)

9.8.2.1 India Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.8.3 India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By End user (US$ Mn)

9.9 South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.9.1 South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecast to 2027 (US$ Mn)

9.9.2 South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By Product (US$ Mn)

9.9.2.1 South Korea Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.9.3 South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By End User (US$ Mn)

9.10 Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

9.10.1 Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecast to 2027 (US$ Mn)

9.10.2 Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By Product (US$ Mn)

9.10.2.1 Australia Short Term Ventricular Assist Devices Market Revenue And Forecast to 2027, By Type (US$ Mn)

9.10.3 Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast to 2027, By End User (US$ Mn)

10. Impact of COVID-19 Pandemic on Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market

10.1 Asia Pacific: Impact Assessment of COVID-19 Pandemic

11. Company Profiles

11.1 Abbott

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Financial Information

11.1.4 Product Portfolio

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 Livanova Plc (Cardiacassist, Inc)

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Financial Overview

11.2.4 Product Portfolio

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 Eurosets

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Financial Overview

11.3.4 Product Portfolio

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 Berlin Heart

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Financial Overview

11.4.4 Product Portfolio

11.4.5 SWOT Analysis

11.4.6 Key Developments

11.5 Medtronic

11.5.1 Key Facts

11.5.2 Business Description

11.5.3 Financial Overview

11.5.4 Product Portfolio

11.5.5 SWOT Analysis

11.5.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Glossary of Terms


LIST OF TABLES

Table 1. Total Number Of Persons Aged 60 Years Or Above By Region, 2017 & 2050

Table 2. Asia Pacific Percutaneous mechanical circulatory support devices Market Revenue and Forecasts To 2027, By Type (US$ Mn)

Table 3. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue and Forecasts To 2027, By End-User (US$ Mn)

Table 4. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 5. Asia Pacific Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 6. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 7. Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 8. Japan Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 9. Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 10. China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 11. China Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 12. China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 13. India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 14. India Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 15. India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 16. South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 17. South Korea Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 18. South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 19. Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Product (US$ Mn)

Table 20. Australia Short Term Ventricular Assist Devices Market Revenue And Forecast To 2027, By Type (US$ Mn)

Table 21. Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By End User (US$ Mn)

Table 22. Glossary of Terms, Percutaneous Mechanical Circulatory Support Devices Market


LIST OF FIGURES

Figure 1. Percutaneous Mechanical Circulatory Support Devices Market Segmentation

Figure 2. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Overview

Figure 3. Intra-Aortic Balloon Pumps Segment Held Largest Share Of Test Type Segment In Percutaneous Mechanical Circulatory Support Devices Market

Figure 4. Japan is Expected to Show Remarkable Growth During the Forecast Period

Figure 5. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market - Leading Country Markets (US$ Mn)

Figure 6. Asia Pacific PEST Analysis

Figure 7. Percutaneous Mechanical Circulatory Support Devices Market Impact Analysis Of Driver And Restraints

Figure 8. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market – Revenue Forecasts and Analysis – 2019- 2027

Figure 9. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, By Type 2019 & 2027 (%)

Figure 10. Asia Pacific Intra-Aortic Balloon Pumps Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 11. Asia Pacific VA-Extracorporeal Membrane Oxygenation (ECMO) Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 12. Asia Pacific Short Term Ventricular Assist Devices Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 13. Asia Pacific Impella Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 14. Asia Pacific Tandem Heart Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 15. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market, by End-User 2019 & 2027 (%)

Figure 16. Asia Pacific Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 17. Asia Pacific Ambulatory Surgical Centers Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 18. Asia Pacific Others Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 19. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Overview, By Country (2019)

Figure 20. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 21. Asia Pacific Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027, By Country (%)

Figure 22. Japan Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 23. China Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 24. India Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 25. South Korea Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 26. Australia Percutaneous Mechanical Circulatory Support Devices Market Revenue And Forecast To 2027 (US$ Mn)

Figure 27. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

  1. Abbott
  2. Livanova Plc (Cardiacassist, Inc)
  3. Eurosets
  4. Berlin Heart
  5. Medtronic

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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