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Capnography Equipment Market

Capnography Equipment Market Size by Product (Stand-Alone, Hand-Held, and Multi-Parameter), Application (Critical Care, Emergency Medicine, Pain Management, and Procedural Sedation), Technology (Main Stream, Side Stream, and Micro Stream), End-User (Ambulatory Care Centers and Hospitals), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13455
  • Published Date: May, 2023
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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The global capnography equipment market was valued at USD 598.01 million in 2022 and grew at a CAGR of 12.07% from 2023 to 2032. The market is expected to reach USD 1868.96 million by 2032. The growth of capnography equipment is the prevalence of respiratory diseases, technological advancements, and supportive government initiatives.

Market Introduction:

A capnograph is a medical instrument that rapidly measures respiratory health to help healthcare providers to react sooner when patients are not breathing normally. They measure the exhaled & inhaled concentration of CO2 in the body. It is utilized in capnography and is also known as an EtCO2 monitor. Capnography instruments refer to different medical equipment that is utilized for measuring the amount of carbon dioxide present in the patient's bloodstream. The appliances are utilized for anaesthesia patients to ensure they receive ample oxygen throughout the surgical procedure. These machines are commonly available in standalone, handheld, and multi-parameter variants based on leading-, side- & micro-stream technologies. The capnography tools can also be utilized for pain management and sedation.

Capnography Equipment Market Size

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Recent Development

For example, in May 2020, Masimo & Philips entered a partnership wherein the former's measurement technology will be utilized for IntelliVue MX-series multi-parameter monitors. 

For example, in September 2020, Capsule Technologies Company, one of the prominent participants in the industry for capnography equipment, unveiled its novel instrument based on related capnography-monitoring technology.

Market Dynamics:

Drivers

The increasing development of portable capnography devices: The increasing public-private investments in product development & commercialization are driving the market growth. Furthermore, increasing incidences of respiratory disorders because of sedentary lifestyles & high-stress levels is expected to propel market growth. Additionally, the increase in healthcare expenses and the rising alertness levels concerning accepting capnography technology is propelling the market growth over the forecast period.

Restraints:

The stringent regulatory process for product approval: The increasingly strict & ambiguous regulatory method for capnography devices is hampering the market growth. Moreover, the high price of critical care equipment hinders market growth.

Opportunities:

The raised availability of clinical evidence to support capnography monitoring: The increased availability of clinical evidence & recent technological advancements in the industry are opportunities for market growth. Moreover, the heightened accessibility of clinical evidence to support capnography monitoring and the advancing nations are expected to drive market growth. Additionally, increasing R&D activities for new products with novel features or functionalities and the increasing number of critical care patients, coupled with the increasing geriatric population, are stimulating market growth over the forecast period.

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 largest market for the global capnography equipment market, with a 37.21% market revenue share in 2022. 

North American region will account for the largest market share with revenue growth. The increasing prevalence of respiratory medical conditions and other chronic conditions is helping to boost the market growth in this region. Moreover, the incorporation of new reimbursement models for respiratory & monitoring solution techniques in this region and the strict regulatory guidelines for patient safety, clinical efficiency, and medical efficacy are expected to drive market growth.

North America Region Capnography Equipment Market Share in 2022 - 37.21%

 

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Product Segment Analysis

The product segment is divided into standalone, handheld, and multi-parameter. The handheld segment dominated the market, with a share of around 44.21% in 2022. This growth is attributed to its rising usage because of its multiple benefits, including high durability, cost-effectiveness, facilitation of certain oxygen saturation levels, and high portability. Moreover, multi-parameter devices are expected to increase rapidly in the following years due to their increasing applications in OTs and ICUs.

Application Segment Analysis

The application segment is divided into critical care, emergency medicine, pain management, and procedural sedation. The emergency medicine segment dominated, with a market share of around 32.16% in 2022. This growth is attributed to the growing spending on health care worldwide. Also, capnography is a powerful device that can be used in critical care to monitor patients' respiratory status. It can assist clinicians in identifying life-threatening respiratory events, like airway obstruction and hypoventilation, and provide early warning of deteriorating patient conditions. However, in critical care units, it helps to monitor the patient's condition by measuring the level of carbon dioxide in their blood. It also assists in determining the effectiveness of therapy and whether the patient needs more or less anaesthesia. Moreover, capnography equipment is utilized for pain management in different ways.

Technology Segment Analysis

The technology segment is divided into the mainstream, sidestream, and micro stream. The side stream segment dominated the market, with a market share of around 42.17% in 2022. This growth is attributed to the increasing usage of the side stream technology in monitoring the anaesthesia level. Also, miniaturized elements & microprocessor technology are used to promote waveform capnography & multigas monitoring for emergency and long-term ventilation management. Moreover, the side stream capnography devices are easy to connect and can be utilized in collaboration with simultaneous oxygen administration through a nasal prong.

End-User Segment Analysis

The end-user segment is divided into ambulatory care centres and hospitals. The hospital segment dominated the market, with a share of around 56.13% in 2022. This growth is attributed to the improved hospital healthcare infrastructure, an increase in the number of multispecialty hospitals, and an increase in the number of procedures for respiratory illnesses.

Some of the Key Market Players:
  • Edan Instruments, Inc.
  • Nihon Kohden Corp.
  • Smiths Medical
  • Masimo
  • Welch Allyn (Hill-Rom Holdings, Inc.
  • Medtronic
  • Diamedica (U.K.) Ltd.
  • Dragerwerk AG & Co. KGaA
  • Nonin Medical, Inc.
  • Koninklijke Philips N.V.    

Report Description: 

Attribute Description
Market Size Revenue (USD Million)
Market size value in 2022 USD 598.01 Million
Market size value in 2032 USD 1868.96 Million
CAGR (2023 to 2032) 12.07%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments product, application, technology, end-user

Frequesntly Asked Questions

As per The Brainy Insights, the size of the capnography equipment market was valued at USD 598.01 million in 2022 to USD 1868.96 million by 2032.

The global capnography equipment market is growing at a CAGR of 12.07% during the forecast period 2023-2032.

North America region emerged as the largest market for capnography equipment.

Key players are Edan Instruments, Inc., Nihon Kohden Corp., Smiths Medical, Masimo, Welch Allyn (Hill-Rom Holdings, Inc., Medtronic, Diamedica (U.K.) Ltd., Dragerwerk AG & Co. KGaA, Nonin Medical, Inc., Koninklijke Philips N.V., and among others.

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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
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Technology
          4.3.4. Market Attractiveness Analysis By End-User
          4.3.5. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising geriatric population
          5.2.2. The increased incidence of respiratory diseases
          5.2.3. The increasing development of portable capnography devices
    5.3. Restraints
          5.3.1. The stringent regulatory process for product approval
          5.3.2. The high cost of capnometers
    5.4. Opportunities
          5.4.1. The raised availability of clinical evidence to support capnography monitoring
          5.4.2. The increasing number of minimally invasive surgeries

1. Global Capnography Equipment Market Analysis and Forecast, By Product
    1.1. Segment Overview
    1.2. Stand-Alone
    1.3. Hand-Held
    1.4. Multi-Parameter

2. Global Capnography Equipment Market Analysis and Forecast, By Application
    2.1. Segment Overview
    2.2. Critical Care
    2.3. Emergency Medicine
    2.4. Pain Management
    2.5. Procedural Sedation

3. Global Capnography Equipment Market Analysis and Forecast, By Technology
    3.1. Segment Overview
    3.2. Main Stream
    3.3. Side Stream
    3.4. Micro Stream

4. Global Capnography Equipment Market Analysis and Forecast, By End-User
    5.5. Segment Overview
    5.6. Ambulatory Care Centers
    5.7. Hospitals

5. Global Capnography Equipment Market Analysis and Forecast, By Regional Analysis
    5.1. Segment Overview
    5.2. North America
          5.2.1. U.S.
          5.2.2. Canada
          5.2.3. Mexico
    5.3. Europe
          5.3.1. Germany
          5.3.2. France
          5.3.3. U.K.
          5.3.4. Italy
          5.3.5. Spain
    5.4. Asia-Pacific
          5.4.1. Japan
          5.4.2. China
          5.4.3. India
    5.5. South America
          5.5.1. Brazil
    5.6. Middle East and Africa
          5.6.1. UAE
          5.6.2. South Africa

6. Global Capnography Equipment Market-Competitive Landscape
    6.1. Overview
    6.2. Market Share of Key Players in Global Capnography Equipment Market
          6.2.1. Global Company Market Share
          6.2.2. North America Company Market Share
          6.2.3. Europe Company Market Share
          6.2.4. APAC Company Market Share
    6.3. Competitive Situations and Trends
          6.3.1. Product Launches and Developments
          6.3.2. Partnerships, Collaborations, and Agreements
          6.3.3. Mergers & Acquisitions
          6.3.4. Expansions

7. Company Profiles
    7.1. Edan Instruments, Inc.
          7.1.1. Business Overview
          7.1.2. Company Snapshot
          7.1.3. Company Market Share Analysis
          7.1.4. Company Product Portfolio
          7.1.5. Recent Developments
          7.1.6. SWOT Analysis
    7.2. Nihon Kohden Corp.
          7.2.1. Business Overview
          7.2.2. Company Snapshot
          7.2.3. Company Market Share Analysis
          7.2.4. Company Product Portfolio
          7.2.5. Recent Developments
          7.2.6. SWOT Analysis
    7.3. Smiths Medical
          7.3.1. Business Overview
          7.3.2. Company Snapshot
          7.3.3. Company Market Share Analysis
          7.3.4. Company Product Portfolio
          7.3.5. Recent Developments
          7.3.6. SWOT Analysis
    7.4. Masimo
          7.4.1. Business Overview
          7.4.2. Company Snapshot
          7.4.3. Company Market Share Analysis
          7.4.4. Company Product Portfolio
          7.4.5. Recent Developments
          7.4.6. SWOT Analysis
    7.5. Welch Allyn (Hill-Rom Holdings, Inc.
          7.5.1. Business Overview
          7.5.2. Company Snapshot
          7.5.3. Company Market Share Analysis
          7.5.4. Company Product Portfolio
          7.5.5. Recent Developments
          7.5.6. SWOT Analysis
    7.6. Medtronic
          7.6.1. Business Overview
          7.6.2. Company Snapshot
          7.6.3. Company Market Share Analysis
          7.6.4. Company Product Portfolio
          7.6.5. Recent Developments
          7.6.6. SWOT Analysis
    7.7. Diamedica (U.K.) Ltd.
          7.7.1. Business Overview
          7.7.2. Company Snapshot
          7.7.3. Company Market Share Analysis
          7.7.4. Company Product Portfolio
          7.7.5. Recent Developments
          7.7.6. SWOT Analysis
    7.8. Dragerwerk AG & Co.
          7.8.1. Business Overview
          7.8.2. Company Snapshot
          7.8.3. Company Market Share Analysis
          7.8.4. Company Product Portfolio
          7.8.5. Recent Developments
          7.8.6. SWOT Analysis
    7.9. KGaA
          7.9.1. Business Overview
          7.9.2. Company Snapshot
          7.9.3. Company Market Share Analysis
          7.9.4. Company Product Portfolio
          7.9.5. Recent Developments
          7.9.6. SWOT Analysis
    7.10. Nonin Medical, Inc.
          7.10.1. Business Overview
          7.10.2. Company Snapshot
          7.10.3. Company Market Share Analysis
          7.10.4. Company Product Portfolio
          7.10.5. Recent Developments
          7.10.6. SWOT Analysis
    7.11. Koninklijke Philips N.V.
          7.11.1. Business Overview
          7.11.2. Company Snapshot
          7.11.3. Company Market Share Analysis
          7.11.4. Company Product Portfolio
          7.11.5. Recent Developments
          7.11.6. SWOT Analysis

List of Table

1. Global Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

2. Global Stand-Alone, Capnography Equipment Market, By Region, 2019-2032 (USD Million)  

3. Global Hand-Held, Capnography Equipment Market, By Region, 2019-2032 (USD Million)

4. Global Multi-Parameter, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

5. Global Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

6. Global Critical Care, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

7. Global Emergency Medicine, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

8. Global Pain Management, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

9. Global Procedural Sedation, Capnography Equipment Market, By Region, 2019-2032 (USD Million)  

10. Global Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

11. Global Main Stream, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

12. Global Side Stream, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

13. Global Micro Stream, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

14. Global Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

15. Global Ambulatory Care Centers, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

16. Global Hospitals, Capnography Equipment Market, By Region, 2019-2032 (USD Million) 

17. North America Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

18. North America Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

19. North America Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

20. North America Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

21. U.S. Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

22. U.S. Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

23. U.S. Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

24. U.S. Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

25. Canada Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

26. Canada Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

27. Canada Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

28. Canada Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

29. Mexico Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

30. Mexico Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

31. Mexico Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

32. Mexico Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

33. Europe Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

34. Europe Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

35. Europe Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

36. Europe Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

37. Germany Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

38. Germany Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

39. Germany Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

40. Germany Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

41. France Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

42. France Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

43. France Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

44. France Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

45. U.K. Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

46. U.K. Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

47. U.K. Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

48. U.K. Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

49. Italy Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

50. Italy Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

51. Italy Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

52. Italy Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

53. Spain Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

54. Spain Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

55. Spain Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

56. Spain Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

57. Asia Pacific Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

58. Asia Pacific Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

59. Asia Pacific Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

60. Asia Pacific Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

61. Japan Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

62. Japan Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

63. Japan Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

64. Japan Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

65. China Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

66. China Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

67. China Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

68. China Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

69. India Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

70. India Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

71. India Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

72. India Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

73. South America Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

74. South America Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

75. South America Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

76. South America Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

77. Brazil Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

78. Brazil Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

79. Brazil Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

80. Brazil Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

81. Middle East and Africa Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

82. Middle East and Africa Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

83. Middle East and Africa Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

84. Middle East and Africa Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

85. UAE Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

86. UAE Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

87. UAE Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

88. UAE Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

89. South Africa Capnography Equipment Market, By Product, 2019-2032 (USD Million) 

90. South Africa Capnography Equipment Market, By Application, 2019-2032 (USD Million) 

91. South Africa Capnography Equipment Market, By Technology, 2019-2032 (USD Million) 

92. South Africa Capnography Equipment Market, By End-User, 2019-2032 (USD Million) 

List of Figures 

1. Global Capnography Equipment Market Segmentation

2. Global Capnography 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 Capnography Equipment Market Attractiveness Analysis By Product

9. Global Capnography Equipment Market Attractiveness Analysis By Application 

10. Global Capnography Equipment Market Attractiveness Analysis By Technology

11. Global Capnography Equipment Market Attractiveness Analysis By End-User

12. Global Capnography Equipment Market Attractiveness Analysis By Region

13. Global Capnography Equipment Market: Dynamics

14. Global Capnography Equipment Market Share By Product (2023 & 2032)

15. Global Capnography Equipment Market Share By Application (2023 & 2032)

16. Global Capnography Equipment Market Share By Technology (2023 & 2032)

17. Global Capnography Equipment Market Share By End-User (2023 & 2032)

18. Global Capnography Equipment Market Share By Regions (2023 & 2032)

19. Global Capnography 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 capnography equipment based on below mentioned segments:

Global Capnography Equipment Market by Product:

  • Stand-Alone
  • Hand-Held
  • Multi-Parameter

Global Capnography Equipment Market By Application

  • Critical Care
  • Emergency Medicine
  • Pain Management
  • Procedural Sedation

Global Capnography Equipment Market By Technology

  • Main Stream
  • Side Stream
  • Micro Stream

Global Capnography Equipment Market By End-User  

  • Ambulatory Care Centers
  • Hospitals

Global Capnography Equipment 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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