Nerve Monitoring Devices Market

Nerve Monitoring Devices Market Size By Products (Monitors, Electrodes, and Ancillary Products), By Technology (EEG, Evoked Potential, EMG, and ECoG), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13098
  • Published Date: Nov, 2022
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global nerve monitoring devices market is expected to reach USD 2.3 billion by 2030, at a CAGR of 5.1% during the forecast period 2022 to 2030. The market is anticipated to be driven by the rising prevalence of neurological diseases.

Market Overview:

To prevent nerve injury during general procedures, nerve monitoring devices help surgeons discover and monitor motor nerve function. It avoids damage to the nervous system during high-risk medical procedures like spine, nerve, and brain surgery. Integrating cutting-edge hardware electronics with a simple software in nerve monitoring devices enables surgeons to perform necessary surgeries while preserving nerve function and improving patient safety. According to WHO estimates, the global population is ageing quickly and is projected to nearly double from 12.0% to 22.0% between 2015 and 2050. One of the main risk factors for neurological conditions is ageing. Over 6.6% of the disabilities in the senior population are attributed to neurological disorders, and 20% of adults 60 and older suffer from neurological conditions. The market for nerve monitoring devices is expected to grow significantly due to the rapidly expanding senior population. This industry is expected to experience significant growth due to the introduction of technologically advanced products like wearable devices. Wearable device benefits like increased mobility and round-the-clock monitoring are anticipated to fuel market expansion.

Nerve Monitoring Devices Market Size

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Market Dynamics:

Drivers:

  • Increasing prevalence of neurodegenerative diseases 

There are millions of people who are afflicted with neurodegenerative diseases worldwide. The two neurodegenerative diseases that occur most frequently are Parkinson's and Alzheimer's. The Alzheimer's Disease Association predicts that 6.2 million Americans will have Alzheimer's disease in 2021, based on research from that year. Parkinson's disease will affect 1.2 million people in the US by 2030, according to estimates. The probability of acquiring a neurodegenerative disease significantly increases with age. Thus, the enormous burden of neurodegenerative disorders and the rising elderly population worldwide promote expanding the global market for nerve monitoring devices.

Restraints:

  • Lack of skilled professionals

Since nerve monitoring devices are becoming more advanced and feature-rich, in-depth device expertise is required. These days, the software is also included with nerve monitoring equipment. Lack of a fundamental grasp of neurophysiological monitoring may also contribute to misunderstandings and the inability to fix technical issues. There is a need for more experts who can use the gadget effectively in developing or emerging nations. Because of this, market expansion may be constrained. Additionally, restrictive regulatory bodies regarding the clearance of the technology and poor reimbursement policies are some of the other aspects that restrict the market.

Opportunities:

  • Growing R&D

Market competitors are concentrating on creating novel devices integrated with software and other cutting-edge technologies in response to the rising demand for nerve monitoring devices. As a result, major market players make significant investments in the R&D sector to maintain a dominant position in the worldwide market. Additionally, there is an increase in funding from both the public and private sectors to build well-resourced healthcare infrastructure in developing nations, encouraging the significant players to grow their operations and produce more nerve monitoring devices.

Challenges:

  • High cost

The IONM technique is unlikely to be cost-effective when only the direct costs associated with recurrent laryngeal nerve (RLN) damage are considered. Inpatient costs for all forms of thyroidectomies continue to be underfunded, regardless of the technology used. Therefore, small hospitals' inability to finance nerve monitoring devices may hinder market expansion.

Segmentation Analysis:

The global nerve monitoring devices market has been segmented based on products, technology and region.

  • The products segment is divided into monitors, electrodes, and ancillary products ‚Äč. In 2021, the ancillary products segment dominated the market, accounting for around 46% of global revenue. Over the forecast period, ancillary products such as disposable sponge discs, abrasive gel, alcohol swabs, disposable filters, and electrode creams are expected to increase profitably. This is due to repeated purchases of these devices and the growing use of nerve-monitoring devices.
  • The technology segment is divided into EEG, Evoked Potential, EMG, and ECoG. Over the forecast period, the ECoG segment is expected to grow at the fastest CAGR of 5.8%. This is explained by the variety of therapeutic conditions for which it has been used. Additionally, this method offers improved precision because it can reveal brain activity in real-time in milliseconds.

Regional Segmentation Analysis:

The regions analyzed for the nerve monitoring devices market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global nerve monitoring devices market, with a 35% share of the market revenue in 2021.

  • North America currently dominates the nerve monitoring devices market with a 35% market revenue share in 2021. Because of its sophisticated healthcare system. The demand for nerve monitoring devices is also rising as a result of the ease of early and preventive diagnosis made possible by the availability of favourable reimbursement and rising disposable income.
  • The Asia Pacific is expected to witness the fastest growth during the forecast period. It is projected that this business would expand because there are significant unexplored prospects in developing nations like China and India. Additionally, it is projected that the market for nerve monitoring devices would rise as a result of government measures that promote it and improve healthcare infrastructure.

North America Region Nerve Monitoring Devices Market Share in 2021 - 35%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global nerve monitoring devices market industry.

List of Key Market Players:

  • Medtronic Plc.
  • NuVasive, Inc.
  • Natus Medical Inc.
  • Langer Medical GmbH
  • Neurosign Surgical
  • Cadwell Laboratories
  • Compumedics Limited
  • Electrical Geodesics Inc

Key Target Audience

  • Market Players
  • Investors
  • End-Users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global nerve monitoring devices market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global nerve monitoring devices market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global nerve monitoring devices market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of nerve monitoring devices based on the product, technology,      and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global nerve monitoring devices market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global nerve monitoring devices market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influence the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global nerve monitoring devices market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the nerve monitoring devices market was valued at USD 1.5 billion in 2021 to USD 2.3 billion by 2030.

The global nerve monitoring devices market is growing at a CAGR of 5.1% during the forecast period 2022-2030.

North America emerged as the largest market for nerve monitoring devices.

Key players in the nerve monitoring devices market are Medtronic Plc., NuVasive, Inc., Natus Medical Inc., Langer Medical GmbH, Neurosign Surgical, Cadwell Laboratories, Compumedics Limited, and Electrical Geodesics Inc.

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 Products
          4.3.2. Market Attractiveness Analysis By Technology
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing prevalence of neurodegenerative diseases
    5.3. Restraints
          5.3.1. Lack of skilled professionals
    5.4. Opportunities
          5.4.1. Growing R&D
    5.5. Challenges
          5.5.1. High Cost

6. Global Nerve Monitoring Devices Market Analysis and Forecast, By Products
    6.1. Segment Overview
    6.2. Monitors
    6.3. Electrodes
    6.4. Ancillary Products

7. Global Nerve Monitoring Devices Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. EEG
    7.3. Evoked Potential
    7.4. EMG
    7.5. ECoG

8. Global Nerve Monitoring Devices Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Nerve Monitoring Devices Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Nerve Monitoring Devices Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Medtronic Plc.
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. NuVasive, Inc.
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Natus Medical Inc.
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Langer Medical GmbH
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Neurosign Surgical
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Cadwell Laboratories
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Compumedics Limited
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Electrical Geodesics Inc
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis

List of Table

1. Global Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

2. Global Monitors, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion) 

3. Global Electrodes, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

4. Global Ancillary Products, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

5. Global Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

6. Global EEG, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

7. Global Evoked Potential, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

8. Global EMG, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

9. Global ECoG, Nerve Monitoring Devices Market, By Region, 2019-2030 (USD Billion)

10. North America Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

11. North America Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

12. U.S. Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

13. U.S. Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

14. Canada Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

15. Canada Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

16. Mexico Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

17. Mexico Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

18. Europe Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

19. Europe Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

20. Germany Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

21. Germany Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

22. France Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

23. France Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

24. U.K. Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

25. U.K. Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

26. Italy Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

27. Italy Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

28. Spain Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

29. Spain Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

30. Asia Pacific Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

31. Asia Pacific Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

32. Japan Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

33. Japan Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

34. China Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

35. China Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

36. India Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

37. India Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

38. South America Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

39. South America Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

40. Brazil Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

41. Brazil Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

42. Middle East and Africa Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

43. Middle East and Africa Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

44. UAE Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

45. UAE Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

46. South Africa Nerve Monitoring Devices Market, By Products, 2019-2030 (USD Billion)

47. South Africa Nerve Monitoring Devices Market, By Technology, 2019-2030 (USD Billion)

List of Figures 

1. Global Nerve Monitoring Devices Market Segmentation

2. Global Nerve Monitoring Devices 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 Nerve Monitoring Devices Market Attractiveness Analysis By Products

9. Global Nerve Monitoring Devices Market Attractiveness Analysis By Technology

10. Global Nerve Monitoring Devices Market Attractiveness Analysis By Region

11. Global Nerve Monitoring Devices Market: Dynamics

12. Global Nerve Monitoring Devices Market Share By Products (2022 & 2030)

13. Global Nerve Monitoring Devices Market Share By Technology (2022 & 2030)

14. Global Nerve Monitoring Devices Market Share By Regions (2022 & 2030)

15. Global Nerve Monitoring Devices Market Share By Company (2021)

This study forecasts global, regional, and country revenue from 2019 to 2030. Brainy Insights has segmented the global nerve monitoring devices market based on the below-mentioned segments:

Global Nerve Monitoring Devices Market by Products:

  • Monitors
  • Electrodes
  • Ancillary Products

Global Nerve Monitoring Devices Market by Technology:

  • EEG
  • Evoked Potential
  • EMG
  • ECoG

Global Nerve Monitoring Devices 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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