Europe Skin Aesthetic Devices Market to Grow at a CAGR of 11.2% to reach US$ 909.48 million from 2020 to 2027

Europe Skin Aesthetic Devices Market to 2027 - Regional Analysis and Forecasts by Product (Laser Skin Resurfacing Devices, Nonsurgical Skin Tightening Devices, Micro-Needling Products, Light Therapy Devices); Treatment (Skin Tightening, Instant Rejuvenation, Body Contouring, Laser Lipo, Other Treatments); End User (Hospitals and Aesthetic Clinics, Medical Spas and Beauty Salons and Home Settings); and Country

  • Report Code : TIPRE00009994
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 170
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The Europe skin aesthetic devices market is expected to reach US$ 909.48 Mn in 2027 from US$ 391.47 Mn in 2019. The market is estimated to grow with a CAGR of 11.2% from 2020-2027.



The growth of the market is driven by the factors such as, significantly growing minimally invasive skin aesthetic procedures, increasing advancement in the aesthetic medical devices and increase in number of cosmetic surgeries. On the other hand, clinical risks and complications associated with aesthetic procedures is likely to restraint the growth of market during the forecast years.

The European skin aesthetic devices market is expected to witness significant growth during the forecast period, due to factors such as, rising number of aesthetic procedures among the younger population. Also, the developments in the medical devices industry and rising numbers of aesthetic clinics may offer vital growth opportunities for market growth. Germany is among the top countries in the field of aesthetic medicine. According to ISAPS, it ranks fourth for the aesthetic procedures in the world. In 2018, the total number of aesthetic procedures performed in the country was 922,056. It contributes by 4.0% of the total procedures across the world. The total non-surgical procedures performed in Germany were 536,150.

Germany is among the developed countries, which utilize advanced technology in the field of medicine and aesthetics. The country also has the presence of various institutes and associations that helps in providing training and lectures. For instance, according to a study published in 2015 by the German Association for Aesthetic & Plastic Surgery (DGÄPC), the aesthetic market is booming at a rapid pace. The non-invasive aesthetic segment is growing significantly; also, there various public and private clinics offering reconstructive and plastic surgery.

British Association of Aesthetic Plastic Surgeons (BAAPS) in 2018, more than 28,000 procedures were performed, which remarked a 0.1% rise from 2017. The number of procedures was higher among women; in 2017, approximately 92% of all aesthetic procedures were accounted for among women. However, the trend among the young population for cosmetic procedures is expected to serve growth opportunities for the skin aesthetic devices market. The country is experiencing a rise in non-surgical aesthetic procedures. The numbers of non-surgical skin aesthetic procedures are widely seen among the people of the age group 18-34 years. For instance, according to BAAPS 2018, breast augmentation, breast reduction, and blepharoplasty were the most popular aesthetic procedures among women. Other procedures such as liposuction and facelifts were increased by 12% and 9% respectively. Thus, growing minimally invasive skin, aesthetic procedures are likely to increase the demand for the skin aesthetic devices market across the region.

Europe Skin Aesthetic Devices Market Revenue and Forecast to 2027 (US$ Mn)

 Europe Skin Aesthetic Devices Market
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Europe Skin Aesthetic Devices – Market Segmentation

By Product

  • Laser Skin Resurfacing Devices
  • Nonsurgical Skin Tightening Devices
  • Micro-Needling Products
  • Light Therapy Devices

By Treatment

  • Skin Tightening
  • Instant Rejuvenation
  • Body Contouring
  • Laser Lipo
  • Other Treatments

By End User

  • Hospitals and Aesthetic Clinics
  • Medical Spas and Beauty Salons
  • Home Settings

By Country

  • US
  • Canada
  • Mexico

Company Profiles

  • Cutera
  • Allergan plc.
  • Cynosure
  • Sisram Med (Alma lasers)
  • Venus Concept
  • Fotona d.o.o.
  • Lumenis Ltd.
  • Merz Pharma GmbH & Co. KGaA
  • Candela Laser Corporation
  • Sciton, Inc.
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Product, Treatment, End User, and Country

Regional Scope
Regional Scope

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

Country Scope
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 Skin Aesthetic Devices Market – By Product

1.3.2 Europe Skin Aesthetic Devices Market – By Treatment

1.3.3 Europe Skin Aesthetic Devices Market – By End User

1.3.4 Europe Skin Aesthetic Devices Market – By Country

2. Europe Skin Aesthetic Devices Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Skin Aesthetic Devices Market – Market Landscape

4.1 Overview

PEST Analysis

4.1.1 4.2.1 Skin Aesthetic Devices Market - Europe PEST Analysis

4.2 Expert Opinion

5. Europe Skin Aesthetic Devices Market - Key Market Dynamics

5.1 Key Market Drivers

5.1.1 Preference toward minimally invasive procedures

5.1.2 Increase in number of cosmetic surgeries

5.1.3 Growth in population between the ages 30 and 65 years

5.2 Key Market Restraints

5.2.1 High cost of surgeries

5.2.2 Clinical Risks and complications associated with aesthetic procedures

5.3 Key Market Opportunities

5.3.1 Increasing disposable incomes and the expanding middle-class population

5.4 Future Trends

5.4.1 Product innovations

5.5 Impact Analysis

6. Skin Aesthetic Devices Market – Europe Analysis

6.1 Europe Skin Aesthetic Devices Market Revenue Forecasts and Analysis

6.2 Positioning of Key Players

7. Europe Skin Aesthetic Devices Market Analysis and Forecasts To 2027 – By Product

7.1 Overview

7.2 Europe Skin Aesthetic Devices Market, By Product 2019 & 2027 (%)

7.2.1 Europe Skin Aesthetic Devices Market Revenue and Forecasts to 2027, By Product (US$ Mn)

7.3 Laser Skin Resurfacing Devices

7.3.1 Overview

7.3.2 Europe Laser Skin Resurfacing Devices Market Revenue and Forecast to 2027 (US$ Mn)

7.4 Light Therapy Devices

7.4.1 Overview

7.4.2 Europe Light Therapy Devices Market Revenue and Forecasts to 2027 (US$ Mn)

7.5 Nonsurgical Skin Tightening Devices

7.5.1 Overview

7.5.2 Europe Nonsurgical Skin Tightening Devices Market Revenue and Forecasts to 2027 (US$ Mn)

7.6 Micro-Needling Products

7.6.1 Overview

7.6.2 Europe Micro-Needling Products Market Revenue and Forecasts to 2027 (US$ Mn)

8. Europe Skin Aesthetic Devices Market Analysis– By Treatment

8.1 Overview

8.2 Europe Skin Aesthetic Devices Market, By Treatment 2019-2027 (%)

8.2.1 Europe Skin Aesthetic Devices Market Revenue and Forecasts to 2027, By Treatment (US$ Mn)

8.3 Skin Tightening

8.3.1 Overview

8.4 Europe Skin Tightening Market Revenue and Forecasts to 2027 (US$ Mn)

8.5 Instant Rejuvenation

8.5.1 Overview

8.6 Europe Instant Rejuvenation Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

8.7 Body Contouring

8.7.1 Overview

8.7.2 Europe Body Contouring Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

8.8 Laser Lipo

8.8.1 Overview

8.8.2 Europe Laser Lipo Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

8.9 Other Treatments

8.9.1 Overview

8.9.2 Europe Other Treatments Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

9. Europe Skin Aesthetic Devices Market Analysis– By End User

9.1 Overview

9.2 Europe Skin Aesthetic Devices Market, By End User 2019 & 2027 (%)

9.2.1 Europe Skin Aesthetic Devices Market Revenue and Forecasts to 2027, By End User (US$ Mn)

9.3 Hospitals and Aesthetic Clinics

9.3.1 Overview

9.3.2 Europe Hospitals and Aesthetic Clinics Cups Market Revenue and Forecast to 2027 (US$ Mn)

9.4 Medical Spas and Beauty Salons

9.4.1 Overview

9.5 Home Settings

9.5.1 Overview

10. Skin Aesthetic Devices Market Revenue and Forecasts To 2027 – Geographical Analysis

10.1 Europe Skin Aesthetic Devices Market Revenue and Forecasts To 2027

10.1.1 Overview

10.1.2 Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.3 Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.4 Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

10.1.5 Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Country (%)

10.1.6 Germany

10.1.6.1 Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.6.1.1 Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

10.1.6.1.2 Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.6.1.3 Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

10.1.7 UK

10.1.7.1 UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.7.1.1 UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

10.1.7.1.2 UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.7.1.3 UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

10.1.8 France

10.1.8.1 France Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.8.1.1 France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

10.1.8.1.2 France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.8.1.3 France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

10.1.9 Spain

10.1.9.1 Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.9.1.1 Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

10.1.9.1.2 Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.9.1.3 Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

10.1.10 Italy

10.1.10.1 Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

10.1.10.1.1 Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

10.1.10.1.2 Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

10.1.10.1.3 Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

11. Europe Aesthetic Devices Market Industry Landscape

11.1 Overview

11.2 Growth Strategies Done by the Companies in the Market, (%)

11.3 Organic Developments

11.3.1 Overview

11.4 Inorganic Developments

11.4.1 Overview

12. Skin Aesthetic Devices Market- Key Company Profiles

12.1 Lumenis

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 Cutera Inc.

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 Merz Pharma

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 CANDELA CORPORATION

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 Sciton, 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 Fotona

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 Venus Concept

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Allergan Plc.

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Cynosure

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Alma Lasers

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary of Terms

LIST OF TABLES

Table 1. Europe Skin Aesthetic Devices Market Revenue and Forecasts To 2027, By Product (US$ Mn)

Table 2. Europe Skin Aesthetic Devices Market Revenue and Forecasts To 2027, By Treatment (US$ Mn)

Table 3. Europe Skin Aesthetic Devices Market Revenue and Forecasts To 2027, By End User (US$ Mn)

Table 4. Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 5. Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 6. Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 7. Top Clinics for Reconstructive and Plastic Surgery in Germany

Table 8. Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 9. Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 10. Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 11. UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 12. UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 13. UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 14. France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 15. France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 16. France Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 17. Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 18. Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 19. Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 20. Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Product (US$ Mn)

Table 21. Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Treatment (US$ Mn)

Table 22. Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By End User (US$ Mn)

Table 23. Organic Developments Done By Companies

Table 24. Inorganic Developments Done By Companies

Table 25. Glossary of Terms, Skin aesthetic devices market

LIST OF FIGURES

Figure 1. Skin Aesthetic Devices Market Segmentation

Figure 2. Europe Skin Aesthetic Devices Market Overview

Figure 3. Laser Skin Resurfacing Devices Segment Held Body Contouring Share of Product Segment in Skin Aesthetic Devices Market

Figure 4. Italy Is Expected to Show Remarkable Growth During the Forecast Period

Figure 5. Europe Skin Aesthetic Devices Market- Leading Country Markets (US$ Mn)

Figure 6. Europe Skin Aesthetic Devices Market, Industry Landscape

Figure 7. Skin Aesthetic Devices Market - Europe PEST Analysis

Figure 8. Europe Skin Aesthetic Devices Market – Revenue Forecasts and Analysis – 2019- 2027

Figure 9. Market Positioning of Key Players in Europe Skin Aesthetic Devices Market

Figure 10. Europe Skin Aesthetic Devices Market, By Product 2019 & 2027 (%)

Figure 11. Europe Laser Skin Resurfacing Devices Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 12. Europe Light Therapy Devices Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 13. Europe Nonsurgical Skin Tightening Devices Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 14. Europe Micro-Needling Products Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 15. Europe Skin Aesthetic Devices Market, by Treatment 2019 & 2027 (%)

Figure 16. Europe Skin Tightening Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 17. Europe Instant Rejuvenation Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 18. Europe Body Contouring Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 19. Europe Laser Lipo Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 20. Europe Other Treatments Treatment Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 21. Europe Skin Aesthetic Devices Market, By End User 2019 & 2027 (%)

Figure 22. Europe Hospitals and Aesthetic Clinics Cups Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 23. Europe Medical Spas and Beauty Salons Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 24. Europe Home Settings Market Revenue and Forecasts to 2027 (US$ Mn)

Figure 25. Europe Skin Aesthetic Devices Market Revenue Overview, by Country, 2019 (US$ MN)

Figure 26. Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 27. Europe Skin Aesthetic Devices, Market Revenue and Forecast to 2027, By Country (%)

Figure 28. Germany Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 29. UK Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 30. France Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 31. Spain Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 32. Italy Skin Aesthetic Devices, Market Revenue and Forecast to 2027 (US$ Mn)

Figure 33. Growth Strategies Done by the Companies in the Market, (%)

The List of Companies - Europe Skin Aesthetic Devices Market

  1. Cutera
  2. Allergan plc.
  3. Cynosure
  4. Sisram Med (Alma lasers)
  5. Venus Concept
  6. Fotona d.o.o.
  7. Lumenis Ltd.
  8. Merz Pharma GmbH & Co. KGaA
  9. Candela Laser Corporation
  10. Sciton, Inc.

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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