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Surgical Equipment Market

Surgical Equipment Market Share & Analysis – Industry Overview

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13611
  • Published Date: Aug, 2023
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global surgical equipment market, with a 40% market revenue share in 2022.

The well-established healthcare sector with the necessary infrastructure, staff and equipment drives regional growth. The increasing incidence of chronic diseases has contributed to the rising demand for elective surgeries, augmenting the market's growth. The rising trauma and accidents will also bode well for the market. The presence of significant manufacturers caters to the rising demand for surgical equipment in the region. The market players also drive innovation in the industry. 

North America Region Surgical Equipment Market Share in 2022 - 40%

 

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  • October 2022 - RIF Robotics believes their prototype product can save surgeons time by recognizing, categorizing, and manipulating four distinct devices and putting together a compact surgical tray. A robotic manipulator arm is assisted in grasping and moving the surgical tools by two machine learning systems, an image segmentation system and an object classifier, which were trained on sets of both actual and fake images of the tools. Future prototypes will be able to identify a wider variety of tools, check for any remaining bioburden on instrument surfaces, and assess the sharpness and general health of the instruments.

Product Type Segment Analysis

The product type segment is divided into surgical sutures and staplers, electrosurgical devices, handheld surgical equipment and others. The handheld surgical equipment segment dominated the market, with a share of around 39% in 2022. The handheld surgical equipment segment consists of forceps, graspers, retractors, clamps, scissors, cannulas, dilators, and many other instruments. These instruments or equipment are fundamental in every surgical procedure. They are found in the majority of the surgeries performed. Given their frequent, repetitive, and simultaneous use, they are also required in multiples. For instance, scissors are required to cut sutures, tissue, and bandages. Clamps are required to arrest blood loss. These tools and instruments are essential as they assist the surgeon in every surgical procedure, thereby driving the segment's growth.

Application Segment Analysis

The application segment is divided into neurosurgery, wound closure, obstetrics and gynaecology, microvascular, cardiovascular, laparoscopy, veterinary, plastic and reconstructive surgeries, urology, thoracic surgery, orthopaedic surgery, ophthalmic, dental and others. The obstetrics and gynaecology segment dominated the market, with a market share of around 22% in 2022. Caesarean surgery is the most performed worldwide. It is life-saving in some instances or can be performed in emergencies. However, many patients opt for caesarean birth, given their personal choices. Medical advancements have improved the outcome of caesarean surgeries, and successful patient outcomes encourage pregnant women to choose surgery over natural vaginal birth.

End-user Segment Analysis

The end-user segment is divided into hospitals, ambulatory surgical centres, clinics, and others. The hospital segment dominated the market, with a market share of around 43% in 2022. Hospitals have a much more significant presence than ambulatory surgical centres or clinics, explaining their dominance in the market. It has the necessary infrastructure, equipment, staff, medications and tools to handle any health emergency, increasing patient confidence in the institution. Furthermore, publicly funded hospitals are the only option for most of the global population to meet their health needs, making the demand for hospitals and their services greater than their counterparts. Hospitals are known in the general population and are the first point of institutional contact for surgical procedures. The presence of allied services like pathology, radiology and other testing within the hospital makes it easier for the patient and their overall diagnosis, treatment and recovery.

  • April 2023 - Surgical supplies used in urological treatments worth Rs 50 lakh were donated to Osmania General Hospital. Power Grid Corporation of India Ltd provided the equipment for their CSR programme. The tools will be employed in the urology department's sophisticated laser techniques for challenging surgeries. In Telangana's government hospital, such expensive and unique equipment was installed for the first time. OGH, a tertiary care government hospital serving the underprivileged, can now undertake several high-end surgeries previously available in corporate settings.
  • July 2023 - In 15 atolls, 132 hospitals and medical facilities have received surgical equipment donations from the Ministry of Health, Maldives.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Application
          4.3.3. Market Attractiveness Analysis by End User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing incidence of chronic diseases
    5.3. Restraints
          5.3.1. The poor sterilization procedures reducing the reusability of surgical equipment
    5.4. Opportunities
          5.4.1. The increasing research and development expenditure driving innovation in the industry
    5.5. Challenges
          5.5.1. The lax regulatory infrastructure in developing economies

6. Global Surgical Equipment Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Surgical Sutures and Staplers
    6.3. Electrosurgical Devices
    6.4. Handheld Surgical Equipment
    6.5. Others

7. Global Surgical Equipment Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Neurosurgery
    7.3. Wound Closure
    7.4. Obstetrics and Gynaecology
    7.5. Microvascular
    7.6. Cardiovascular
    7.7. Laparoscopy
    7.8. Veterinary
    7.9. Plastic and Reconstructive Surgeries
    7.10. Urology
    7.11. Thoracic Surgery
    7.12. Orthopaedic Surgery
    7.13. Ophthalmic
    7.14. Dental
    7.15. Others

8. Global Surgical Equipment Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Hospitals
    8.3. Ambulatory Surgical Centres
    8.4. Clinics
    8.5. Others

9. Global Surgical Equipment Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Surgical Equipment Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Surgical Equipment Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. B. Braun Melsungen AG
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Becton, Dickinson and Company
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Boston Scientific Corporation
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Integra Life Sciences Holdings Corporation
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Johnson & Johnson
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Medtronic Plc
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Novartis International AG
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Smith & Nephew Plc
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Stryker Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Zimmer Biomet Holdings Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

2. Global Surgical Sutures and Staplers Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

3. Global Electrosurgical Devices Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

4. Global Handheld Surgical Equipment Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

5. Global Others Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

6. Global Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

7. Global Neurosurgery Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

8. Global Wound Closure Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

9. Global Obstetrics and Gynaecology Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

10. Global Microvascular Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

11. Global Cardiovascular Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

12. Global Laparoscopy Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

13. Global Veterinary Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

14. Global Plastic and Reconstructive Surgeries Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

15. Global Urology Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

16. Global Thoracic Surgery Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

17. Global Orthopaedic Surgery Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

18. Global Ophthalmic Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

19. Global Dental Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

20. Global Others Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

21. Global Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

22. Global Hospitals Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

23. Global Ambulatory Surgical Centres Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

24. Global Clinics Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

25. Global Others Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

26. Global Surgical Equipment Market, By Region, 2019-2032 (USD Billion) 

27. North America Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

28. North America Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

29. North America Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

30. U.S. Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

31. U.S. Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

32. U.S. Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

33. Canada Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

34. Canada Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

35. Canada Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

36. Mexico Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

37. Mexico Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

38. Mexico Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

39. Europe Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

40. Europe Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

41. Europe Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

42. Germany Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

43. Germany Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

44. Germany Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

45. France Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

46. France Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

47. France Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

48. U.K. Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

49. U.K. Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

50. U.K. Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

51. Italy Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

52. Italy Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

53. Italy Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

54. Spain Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

55. Spain Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

56. Spain Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

57. Asia Pacific Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

58. Asia Pacific Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

59. Asia Pacific Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

60. Japan Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

61. Japan Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

62. Japan Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

63. China Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

64. China Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

65. China Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

66. India Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

67. India Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

68. India Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

69. South America Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

70. South America Surgical Equipment Market, By Application, 2019-2032 (USD Billion)

71. South America Surgical Equipment Market, By End User, 2019-2032 (USD Billion)

72. Brazil Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

73. Brazil Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

74. Brazil Surgical Equipment Market, By End User, 2019-2032 (USD Billion)

75. Middle East and Africa Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

76. Middle East and Africa Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

77. Middle East and Africa Surgical Equipment Market, By End User, 2019-2032 (USD Billion)

78. UAE Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

79. UAE Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

80. UAE Surgical Equipment Market, By End User, 2019-2032 (USD Billion)

81. South Africa Surgical Equipment Market, By Product Type, 2019-2032 (USD Billion) 

82. South Africa Surgical Equipment Market, By Application, 2019-2032 (USD Billion) 

83. South Africa Surgical Equipment Market, By End User, 2019-2032 (USD Billion) 

List of Figures 

1. Global Surgical Equipment Market Segmentation

2. Surgical Equipment Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Surgical Equipment Market Attractiveness Analysis by Product Type

9. Global Surgical Equipment Market Attractiveness Analysis by Application

10. Global Surgical Equipment Market Attractiveness Analysis by End User

11. Global Surgical Equipment Market Attractiveness Analysis by Region

12. Global Surgical Equipment Market: Dynamics

13. Global Surgical Equipment Market Share by Product Type (2022 & 2032)

14. Global Surgical Equipment Market Share by Application (2022 & 2032)

15. Global Surgical Equipment Market Share by End User (2022 & 2032)

16. Global Surgical Equipment Market Share by Regions (2022 & 2032)

17. Global Surgical Equipment Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global surgical equipment market based on below mentioned segments:

Global Surgical Equipment Market by Product Type:

  • Surgical Sutures and Staplers
  • Electrosurgical Devices
  • Handheld Surgical Equipment
  • Others

Global Surgical Equipment Market by Application:

  • Neurosurgery
  • Wound Closure
  • Obstetrics and Gynaecology
  • Microvascular
  • Cardiovascular
  • Laparoscopy
  • Veterinary
  • Plastic and Reconstructive Surgeries
  • Urology
  • Thoracic Surgery
  • Orthopaedic Surgery
  • Ophthalmic
  • Dental
  • Others

Global Surgical Equipment Market by End User:

  • Hospitals
  • Ambulatory Surgical Centres
  • Clinics
  • Others

Global Surgical Equipment Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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