The Europe foot orthotic insoles market is expected to reach US$ 1,621.89 million by 2027 from US$ 1,096.89 million in 2019. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027.
The growth of the market is attributed to the increasing incidence of diabetes, arthritis, and other foot conditions and growing demand from sports sector. However, high cost of foot orthotic insoles hinders the growth of the Europe Foot Orthotic Insoles market
Rising diabetes-associated risks such as diabetic foot ulcers and pressure sores are boosting the demand for foot orthotic insoles. Diabetic foot ulcers (DFUs) are severe and chronic. As per the International Diabetes Federation (IDF), Germany is one of the 57 countries of the IDF EUR region. 463 million people have diabetes in the world and more than 59 million people in the EUR Region; by 2045 this will rise to 68 million. The demand for the foot orthotic insoles has seen a dramatic increase over the past few years due to the increasing prevalence of diseases such as diabetes, obesity, arthritis. Elevated plantar pressures are recognized as one of the risk factors for first ulceration and international guidelines suggest the use of orthotic insoles to reduce pressures. Increasing prevalence of diabetes is expected to boost the adoption of foot orthotic insoles in the coming years. Apart from this, rise in cases of rheumatoid arthritis (RA) is likely to increase the demand for foot orthotic insoles during the forecast period. RA is a chronic, autoimmune, inflammatory disease that causes swelling in joints. It commonly affects joints in the hands, wrists, and knees. Rheumatoid arthritis affects around 400,000 adults aged 16 and over in the UK. It can get worse quickly, so early diagnosis and intensive treatment are important. This suggests that for early intervention of the foot in RA is very necessary to avoid further complications..
Europe Foot Orthotic Insoles Market Revenue and Forecast to 2027 (US$ Million)
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Europe Foot Orthotic Insoles Market Segmentation
By Product Type
- Customized
- Prefabricated
By Material
- Thermoplastics
- Polyethylene foams
- Leather
- Cork
- Composite Carbon Fibers
- Ethyl-vinyl acetates (EVAs)
- Gel
- Others
By Application
- Sports and Athletics
- Medical
- Personal Comfort
By Distribution Channel
- Drug Stores
- Hospitals and Specialty
- Online Stores
- Others
By Country
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Company Profiles
- Aetrex Worldwide, Inc
- Bauerfeind AG
- OttoBock
- Superfeet Worldwide Inc.
- Sidas
- Algeos
- Yellow Wood Partners, LLC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Material, Application, Distribution Channel, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Foot Orthotic Insoles Market– By Product Type
1.3.2 Europe Foot Orthotic Insoles Market– By Material
1.3.3 Europe Foot Orthotic Insoles Market – By Application
1.3.4 Europe Foot Orthotic Insoles Market – By Distribution Channel
1.3.5 Europe Foot Orthotic Insoles Market– By Region
2. Foot Orthotic Insoles Market – Key Takeaways
2.1 Coverage
2.2 Secondary Research
2.3 Primary Research
3. Foot Orthotic Insoles – Market Landscape
3.1 Overview
3.2 PEST Analysis
3.2.1 Europe
3.3 Expert Opinion
4. Europe Foot Orthotic Insoles Market – Industry Dynamics
4.1 Key Drivers
4.1.1 Increasing Incidence of Diabetes, Arthritis, and Other Foot Conditions
4.1.2 Growing Demand from Sports Sector
4.2 Market Restraints
4.2.1 High Cost of Custom Orthotics
4.3 Market Opportunities
4.3.1 Increase in Adoption of Digital Platforms
4.4 Future Trends
4.4.1 3D Printed Orthotics Insoles
4.5 Impact Analysis
5. Foot Orthotic Insoles Market – Regional Analysis
5.1 Europe Foot Orthotic Insoles Market Revenue Forecast And Analysis
5.2 Market Positioning of Key Players
6. Foot Orthotic Insoles Market Analysis – By Product Type
6.1 Overview
6.2 Foot Orthotic Insoles Market Revenue Share, by Product Type, 2019 and 2027 (%)
6.2.1 Europe Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
6.3 Customized
6.3.1 Overview
6.3.2 Customized: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
6.4 Prefabricated
6.4.1 Overview
6.4.2 Prefabricated: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7. Foot Orthotic Insoles Market – By Material
7.1 Overview
7.2 Foot Orthotic Insoles Market, by Material, 2019 and 2027 (%)
7.2.1 Europe Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
7.3 Thermoplastics
7.3.1 Overview
7.3.2 Thermoplastics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Leather
7.4.1 Overview
7.4.2 Leather: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Composite Carbon Fibers
7.5.1 Overview
7.5.2 Composite Carbon Fibers: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Polyethylene Foams
7.6.1 Overview
7.6.2 Polyethylene Foams: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Cork
7.7.1 Overview
7.7.2 Cork: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Ethyl-Vinyl Acetates (EVAs)
7.8.1 Overview
7.8.2 Ethyl-Vinyl Acetates (EVAs): Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.9 Gel
7.9.1 Overview
7.9.2 Gel: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
7.10 Others
7.10.1 Overview
7.10.2 Others: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
8. Foot Orthotic Insoles Market – By Application
8.1 Overview
8.2 Foot Orthotic Insoles Market, by Application, 2019 and 2027 (%)
8.2.1 Europe Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
8.3 Sports and Athletics
8.3.1 Overview
8.3.2 Sports and Athletics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Medical
8.4.1 Overview
8.4.2 Medical: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Personal Comfort
8.5.1 Overview
8.5.2 Personal Comfort: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
9. Foot Orthotic Insoles Market – By Distribution Channel
9.1 Overview
9.2 Foot Orthotic Insoles Market, by Distribution Channel, 2019 and 2027 (%)
9.2.1 Europe Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
9.3 Drug Stores
9.3.1 Overview
9.3.2 Drug Stores: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Hospitals and Specialty Clinics
9.4.1 Overview
9.4.2 Hospitals and Specialty Clinics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Online Stores
9.5.1 Overview
9.5.2 Online Stores Segment : Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Segment : Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
10. Foot Orthotic Insoles Market– Regional Analysis
10.1 Europe: Foot Orthotic Insoles Market
10.1.1 Overview
10.1.2 Europe: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.3 Europe: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.4 Europe: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.5 Europe: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.6 Europe: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.7 Europe: Foot Orthotic Insoles Market, by Country, 2019 & 2027 (%)
10.1.8 Germany: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.1 Germany: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.9 Germany: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.10 Germany: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.11 Germany: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.12 Germany: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.13 UK: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.13.1 UK: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.14 UK: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.15 UK: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.16 UK: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.17 UK: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.18 France: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.18.1 France: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.19 France: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.20 France: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.21 France: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.22 France: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.23 Italy: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.23.1 Italy: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.24 Italy: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.25 Italy: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.26 Italy: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.27 Italy: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
10.1.28 Spain: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.28.1 Spain: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
10.1.28.2 Spain: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
10.1.28.3 Spain: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
10.1.28.4 Spain: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.28.5 Spain: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
11. Impact of COVID-19 Pandemic on Europe Foot Orthotic Insoles Market
11.1 Europe: Impact assessment of COVID-19 Pandemic
12. Company Profiles
12.1 SIDAS
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 OTTOBOCK
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 Aetrex Worldwide, 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 Algeos
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 Superfeet Worldwide Inc.
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 Bauerfeind
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 YELLOW WOOD PARTNERS, LLC.
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 2. Europe Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 3. Europe Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 4. Europe Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 5. Europe: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 6. Europe: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 7. Europe: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Europe: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 9. Germany: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 10. Germany: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 11. Germany: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 12. Germany: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 13. UK: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 14. UK: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 15. UK: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 16. UK: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 17. France: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 18. France: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 19. France: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 20. France: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 21. Italy: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 22. Italy: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 23. Italy: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 24. Italy: Foot Orthotic Insoles Market, Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 25. Spain: Foot Orthotic Insoles Market, by Product Type – Revenue and Forecast to 2027 (USD Million)
Table 26. Spain: Foot Orthotic Insoles Market, by Material – Revenue and Forecast to 2027 (USD Million)
Table 27. Spain: Foot Orthotic Insoles Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 28. Spain: Foot Orthotic Insoles Market, by Distribution Channel – Revenue and Forecast to 2027 (USD Million)
Table 29. Glossary of Terms, Foot Orthotic Insoles Market
LIST OF FIGURES
Figure 1. Foot Orthotic Insoles Market Segmentation
Figure 2. Foot Orthotic Insoles Segmentation – By Region
Figure 3. Europe Foot Orthotic Insoles Market Overview
Figure 4. Customized Segment Held Largest Share Of Product Type Segment In Foot Orthotic Insoles Market
Figure 5. UK Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Research Methodology
Figure 7. Europe PEST Analysis
Figure 8. Europe Foot Orthotic Insoles Market – Revenue Forecast And Analysis – 2019- 2027
Figure 9. Market Positioning Of Key Players In Foot Orthotic Insoles Market
Figure 10. Foot Orthotic Insoles Market Revenue Share, by Product Type, 2019 and 2027 (%)
Figure 11. Customized: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Prefabricated: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Foot Orthotic Insoles Market, by Material, 2019 and 2027 (%)
Figure 14. Thermoplastics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Leather: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. Composite Carbon Fibers: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Polyethylene Foams: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Cork: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Ethyl-Vinyl Acetates (EVAs): Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Gel: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Others: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Foot Orthotic Insoles Market, by Application, 2019 and 2027 (%)
Figure 23. Sports and Athletics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Medical: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Personal Comfort: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Foot Orthotic Insoles Market, by Distribution Channel, 2019 and 2027 (%)
Figure 27. Drug Stores: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Hospitals and Specialty Clinics: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Online Stores: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Others: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Europe: Foot Orthotic Insoles Market, by Key Country – Revenue (2019) (USD Million)
Figure 32. Europe: Foot Orthotic Insoles Market Revenue and Forecast to 2027 (USD Million)
Figure 33. Europe: Foot Orthotic Insoles Market, by Country, 2019 & 2027 (%)
Figure 34. Germany: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
Figure 35. UK: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. France: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
Figure 37. Italy: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
Figure 38. Spain: Foot Orthotic Insoles Market – Revenue and Forecast to 2027 (USD Million)
Figure 39. Impact of COVID-19 Pandemic on Foot Orthotic Insoles Market in European Countries
- Aetrex Worldwide, Inc
- Bauerfeind AG
- OttoBock
- Superfeet Worldwide Inc.
- Sidas
- Algeos
- Yellow Wood Partners, LLC
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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