The South & Central America closed systems drug transfer devices market is expected to reach US$ 118.49 million by 2027 from US$ 28.37 million in 2019; it is expected to grow at a CAGR of 19.6% from 2019 to 2027.
Driving factors include growing adoption of chemotherapy and improvement of regulatory guidelines regarding hazardous drugs. However, the lack of regulatory guidelines regarding health workers’ safety in emerging countries may restrain the market growth.The closed system drug transfer devices provide protection against hazardous drugs or vapors during drug preparation and administration. It comprises components which enables filtering of dangerous vapors out of the system. Closed system drug transfer devices play a major role in protection of healthcare professionals from antineoplastic as well as other harmful medications. Growing emphasis on implementation of occupational health and safety standards by government authorities are offering lucrative opportunity for growth of the market.
Chemotherapy is one of the prominent cancer treatment procedures accepted all over South & Central America. With growing number of R&D activities in cancer and its treatment, many healthcare players are developing new chemotherapeutic agents and gaining FDA approvals for the same. For instance, till 2018, FDA approved 19 lung cancer drugs, 14 of which were registered in Brazil. Around 80% (11 in 14) of lung cancer drugs approved in Brazil were available in Brazilian private setting and 14 % (2 in 14) in the public health system. Growing number of approvals for chemotherapeutic drugs, coupled with increasing prevalence of cancer, create lucrative opportunities for the future growth of the closed system drug transfer devices market players as these devices protect healthcare professionals from exposure to these harmful medications.
The COVID-19 pandemic has hit the South & Central America at a time when the region is already burdened with multiple problems, including a series of long-running conflicts, sectarian tension, economic crises, and widespread political unrest. Additionally, The COVID-19 pandemic has disrupted the spectrum of cancer care, including delaying diagnoses and treatment and halting clinical trials. Along with this many medical companies have shifted their focus of manufacturing from CSTD to respiratory devices. Such problems are likely to have a negative impact on the research and development activities, which will directly restrain the growth of the closed system drug transfer device (CSTD) market in the region.
Rest of South & Central America Closed Systems Drug Transfer Devices Market, Revenue and Forecast to
2027 (US$ Mn)
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SOUTH & CENTRAL AMERICA CLOSED SYSTEMS DRUG TRANSFER DEVICES MARKET SEGMENTATION
By Closing Mechanism
- Push-to-turn Systems
- Luer-lock Systems
- Color-to-color Alignment Systems
- Click-to-lock Systems
By Type
- Membrane-to-membrane Systems
- Needleless Systems
By Technology
- Diaphragm-based Devices
- Compartmentalized Devices
- Air Cleaning/Filtration Devices
By Component
- Vial Access Devices
- Syringe Safety Devices
- Bag/Line Access Devices
- Accessories
By End User
- Hospitals and Clinics
- Oncology Centers
- Others
By Country
- Brazil
- Argentina
- Rest of South & Central America
Company Profiles
- B. Braun Medical Inc
- Victus, Inc
- BD
- EQUASHIELD
- ICU MEDICAL INC.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Closing Mechanism, Type, Technology, Component, End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Brazil, Argentina
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 South & Central America Closed system drug transfer devices Market – By Closing Mechanism
1.3.2 South & Central America Closed system drug transfer devices Market – By Type
1.3.3 South & Central America Closed system drug transfer devices Market– By Technology
1.3.4 South & Central America Closed system drug transfer devices Market– By Component
1.3.5 South & Central America Closed system drug transfer devices Market– By End User
1.3.6 South & Central America Closed system drug transfer devices Market – By Country
2. South & Central America Closed System Drug Transfer Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Closed System Drug Transfer Devices Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Closed System Drug Transfer Devices Market - South & Central America PEST Analysis
4.3 Expert Opinion
4.4 Regulatory Overview
4.5 Value Chain Analysis
5. South & Central America Closed System Drug Transfer Devices Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Adoption of Chemotherapy
5.1.2 Improvement of Regulatory Guidelines Regarding Hazardous Drugs
5.2 Market Restraints
5.2.1 Lack of Regulatory Guidelines Regarding Health Workers’ Safety
5.3 Market Opportunities
5.3.1 Rising Number of Chemotherapeutic Drug Approvals
5.4 Future Trends
5.4.1 Robot-based Handling of Hazardous Drugs
5.5 Impact analysis
6. Closed System Drug Transfer Devices Market – South & Central America Analysis
6.1 South & Central America Closed System Drug Transfer Devices Market Revenue Forecasts and Analysis
7. South & Central America Closed System Drug Transfer Devices Market Analysis and Forecasts To 2027 – By Closing Mechanism
7.1 Overview
7.2 South & Central America Closed System Drug Transfer Devices Market, By Closing Mechanism 2019 & 2027 (%)
7.2.1 South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts to 2027, By Closing Mechanism (US$ Mn)
7.3 Push-to-Turn Systems
7.3.1 Overview
7.3.2 South & Central America Push-to-Turn Systems Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Colour-to-Colour Alignment System
7.4.1 Overview
7.4.2 South & Central America Colour-to-Colour Alignment System Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Luer-Lock Systems
7.5.1 Overview
7.5.2 South & Central America Luer-Lock Systems Market Revenue and Forecast to 2027 (US$ Mn)
7.6 Click-to-Lock Systems
7.6.1 Overview
7.6.2 South & Central America Click-to-Lock Systems Market Revenue and Forecast to 2027 (US$ Mn)
8. South & Central America Closed System Drug Transfer Devices Market Analysis and Forecasts To 2027 – By Type
8.1 Overview
8.2 South & Central America Closed System Drug Transfer Devices Market, By Type 2019 & 2027 (%)
8.2.1 South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts to 2027, By Type (US$ Mn)
8.3 Membrane-to-Membrane Systems
8.3.1 Overview
8.3.2 South & Central America Membrane-to-Membrane Systems Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Needleless Systems
8.4.1 Overview
8.4.2 South & Central America Needleless Systems Market Revenue and Forecasts to 2027 (US$ Mn)
9. South & Central America Closed System Drug Transfer Devices Market Analysis and Forecasts To 2027 – By Technology
9.1 Overview
9.2 South & Central America Closed System Drug Transfer Devices Market, By Technology 2019 & 2027 (%)
9.2.1 South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts to 2027, By Technology (US$ Mn)
9.3 Diaphragm-Based Devices
9.3.1 Overview
9.3.2 South & Central America Diaphragm-Based Devices Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Compartmentalized Devices
9.4.1 Overview
9.4.2 South & Central America Compartmentalized Devices Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Air Cleaning/Filtration Devices
9.5.1 Overview
9.5.2 South & Central America Air Cleaning/Filtration Devices Market Revenue and Forecast to 2027 (US$ Mn)
10. South & Central America Closed System Drug Transfer Devices Market Analysis and Forecasts To 2027 – By Component
10.1 Overview
10.2 South & Central America Closed System Drug Transfer Devices Market, By Component 2019 & 2027 (%)
10.2.1 South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts to 2027, By Component (US$ Mn)
10.3 Vial Access Devices
10.3.1 Overview
10.3.2 South & Central America Vial Access Devices Market Revenue and Forecast to 2027 (US$ Mn)
10.4 Syringe Safety Devices
10.4.1 Overview
10.4.2 South & Central America Syringe Safety Devices Market Revenue and Forecasts to 2027 (US$ Mn)
10.5 Bag/Line Access Devices
10.5.1 Overview
10.5.2 South & Central America Bag/Line Access Devices Market Revenue and Forecast to 2027 (US$ Mn)
10.6 Accessories
10.6.1 Overview
10.6.2 South & Central America Accessories Market Revenue and Forecasts to 2027 (US$ Mn)
11. South & Central America Closed System Drug Transfer Devices Market Analysis – By End-User
11.1 Overview
11.2 South & Central America Closed System Drug Transfer Devices Market, By End-User 2019-2027 (%)
11.2.1 South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts to 2027, By End-User (US$ Mn)
11.3 Hospitals and Clinics
11.3.1 Overview
11.3.2 South & Central America Hospitals and Clinics Market Revenue and Forecasts to 2027 (US$ Mn)
11.4 Oncology Centers
11.4.1 Overview
11.4.2 South & Central America Oncology Centers Market Revenue and Forecasts to 2027 (US$ Mn)
11.5 Others
11.5.1 Overview
11.5.2 South & Central America Others Market Revenue and Forecasts to 2027 (US$ Mn)
12. Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027 – Geographical Analysis
12.1 South & Central America: Closed System Drug Transfer Devices Market
12.1.1 Overview
12.1.2 South and Central America: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
12.1.3 South and Central America Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
12.1.4 South and Central America Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
12.1.5 South and Central America Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
12.1.6 South and Central America Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
12.1.7 South and Central America Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
12.1.8 South and Central America: Closed System Drug Transfer Device (CSTD) Market, by Country, 2019 & 2027 (%)
12.1.9 Brazil: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
12.1.9.1 Brazil: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
12.1.10 Brazil Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
12.1.11 Brazil Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
12.1.12 Brazil Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
12.1.13 Brazil Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
12.1.14 Brazil Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
12.1.15 Argentina: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
12.1.15.1 Argentina: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
12.1.16 Argentina Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
12.1.17 Argentina Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
12.1.18 Argentina Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
12.1.19 Argentina Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
12.1.20 Argentina Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
13. Impact of COVID-19 Pandemic on South & Central America Closed system drug transfer devices Market
13.1 South & Central America: Impact Assessment of COVID-19 Pandemic
14. Company Profiles
14.1 BD
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 B. Braun Medical Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 ICU MEDICAL INC.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 EQUASHIELD
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Victus, Inc.
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027, By Closing Mechanism (US$ Mn)
Table 2. South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027, By Type (US$ Mn)
Table 3. South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027, By Technology (US$ Mn)
Table 4. South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027, By Component (US$ Mn)
Table 5. South & Central America Closed System Drug Transfer Devices Market Revenue and Forecasts To 2027, By End-User (US$ Mn)
Table 6. South and Central America Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
Table 7. South and Central America Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 8. South and Central America Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 9. South and Central America Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 10. South and Central America Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 11. Brazil Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
Table 12. Brazil Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 13. Brazil Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 14. Brazil Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 15. Brazil Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 16. Argentina Closed System Drug Transfer Device (CSTD) Market, by Closing Mechanism – Revenue and Forecast to 2027 (USD Million)
Table 17. Argentina Closed System Drug Transfer Device (CSTD) Market, by Type – Revenue and Forecast to 2027 (USD Million)
Table 18. Argentina Closed System Drug Transfer Device (CSTD) Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 19. Argentina Closed System Drug Transfer Device (CSTD) Market, by Component – Revenue and Forecast to 2027 (USD Million)
Table 20. Argentina Closed System Drug Transfer Device (CSTD) Market, by End-User – Revenue and Forecast to 2027 (USD Million)
Table 21. Glossary of Terms, Closed System Drug Transfer Devices Market
LIST OF FIGURES
Figure 1. Closed System Drug Transfer Devices Market Segmentation
Figure 2. South & Central America Closed System Drug Transfer Devices Market Overview
Figure 3. Push-to-Turn Systems Closing Mechanism Segment Held Largest Share of Closed System Drug Transfer Devices Market
Figure 4. Brazil is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. South & Central America Closed system drug transfer devices Market - Leading Country Markets (US$ Mn)
Figure 6. Closed System Drug Transfer Devices Market - South & Central America PEST Analysis
Figure 7. Closed System Drug Transfer Devices Market – Value Chain Analysis
Figure 8. Closed System Drug Transfer Devices Market Impact Analysis of Driver and Restraints
Figure 9. South & Central America Closed System Drug Transfer Devices Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 10. South & Central America Closed System Drug Transfer Devices Market, By Closing Mechanism 2019 & 2027 (%)
Figure 11. South & Central America Push-to-Turn Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 12. South & Central America Colour-to-Colour Alignment System Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. South & Central America Luer-Lock Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. South & Central America Click-to-Lock Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. South & Central America Closed System Drug Transfer Devices Market, By Type 2019 & 2027 (%)
Figure 16. South & Central America Membrane-to-Membrane Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. South & Central America Needleless Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. South & Central America Closed System Drug Transfer Devices Market, By Technology 2019 & 2027 (%)
Figure 19. South & Central America Diaphragm-Based Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. South & Central America Compartmentalized Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. South & Central America Air Cleaning/Filtration Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. South & Central America Closed System Drug Transfer Devices Market, By Component 2019 & 2027 (%)
Figure 23. South & Central America Vial Access Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. South & Central America Syringe Safety Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. South & Central America Bag/Line Access Devices Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. South & Central America Accessories Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 27. South & Central America Closed System Drug Transfer Devices Market, by End-User 2019 & 2027 (%)
Figure 28. South & Central America Hospitals Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. South & Central America Oncology Centers Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. South & Central America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. South and Central America: Closed System Drug Transfer Device (CSTD) Market, by Key Country – Revenue (2019) (USD Million)
Figure 32. South and Central America Closed System Drug Transfer Device (CSTD) Market Revenue and Forecast to 2027 (USD Million)
Figure 33. South and Central America: Closed System Drug Transfer Device (CSTD) Market, by Country, 2019 & 2027 (%)
Figure 34. Brazil: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
Figure 35. Argentina: Closed System Drug Transfer Device (CSTD) Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. Impact of COVID-19 Pandemic in South & Central American Country Markets
- B. Braun Medical Inc
- Victus, Inc.
- BD
- EQUASHIELD
- ICU MEDICAL INC.
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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