Sports Medicine Market by Product and Application - Global Industry Analysis and Forecast to 2027
Published On : July 2021 Pages : 138 Category: Medical Devices Report Code : HC056
The sports medicine market is expected to be around $13 billion by 2027.The market for sports medicine is experiencing an exponential growth due to governments ‘initiatives to encourage sports medicine and aggressive expansion by international players in emerging countries. In the U.S. alone, each year about 30 million children and teenagers take part in some form of organized sport, where more than 3.5 million sports injuries are reported.
Industry Trend Analysis
The sports medicine market is expected to be around $13 billion by 2027.The market for sports medicine is experiencing an exponential growth due to governments ‘initiatives to encourage sports medicine and aggressive expansion by international players in emerging countries. In the U.S. alone, each year about 30 million children and teenagers take part in some form of organized sport, where more than 3.5 million sports injuries are reported. Almost one-third of the injuries reported in children are sports related injuries. Around 21% of traumatic injuries related to the brain are due to sports and recreational activities. Also, there is growing awareness related to fitness in all age groups. These factors are set to contribute to the growth of sports medicines industry. Latest technological advancements in tissue engineering and gene therapy designer drugs are further fuelling the market growth.
Product Outlook and Trend Analysis
Body reconstruction and repair devices segment dominated the overall sports medicine market in 2017, due to increase in adoption of bone reconstruction devices and soft tissue repair. This segment is expected to remain an attractive market during the forecast period, owing to the rising numbers of sports related injuries. Under this segment, arthroscopy devices held the largest share in 2017. These devices have wide applications in injuries related to knee, shoulder, and neck. The recovery and support products market is the second major segment with braces and orthotics products segment holding largest share in 2017. It is expected to grow steadily over the forecast period as runners and other athletes derive huge benefits from orthotics to avoid injuries and maximize their performance. These are widely used in cases such as flat feet, frequent ankle pains, muscle tightness, and high arched feet.
Application Outlook and Trend Analysis
Sports injuries are majorly associated with knees, shoulders, ankle, foot, spine, back, and other body parts. Knee injuries dominated the global market in 2017, owing to increased incidents of knee related sports injuries. According to the projections made by British Journal of Sports Medicine, a casualty department serving a population of 400,000 people can expect 500 cases of knee injuries yearly. Ankle sprain is the single most common injury in football. According to the Federation Internationale de Football Association (FIFA), most of the orthopedic injuries are incurred by ankle, knee, and hamstring. A total of 239,943 injuries were treated in the U.S. hospital emergency rooms, out of which 48,806 were fractures, 5,401 were dislocation cases, and 79,384 cases of strain were reported.
Regional Outlook and Trend Analysis
North America dominates the global market with highest share in 2017, due to advanced healthcare infrastructure and rise in expenditure on fitness. Government initiatives such as, the Sport For All initiative by U.S. Department of Health and Human Services, to educate people about the benefits of sport, is contributing to the market growth. Asia-Pacific is the most promising market and is expected to grow at a higher CAGR as the awareness about sports and fitness is on the rise in most of the developing nations. Moreover, this market is primarily driven by the increasing focus of international players on the emerging markets.
Competitive Analysis
The sports medicine market is dominated by a few large players such as Arthrex, Inc, Smith & Nephew, DePuy Mitek Inc, and Stryker Corporation, who have consolidated the market controlling a share of more than 70% in 2017. These players consistently introduce innovative and technologically advanced products in the market to ensure a competitive advantage over the other players.
Some other players operating in this industry are Medstar Sports Medicine, Mueller Sports Medicine Inc, Zimmer Biomet, Otto Bock Healthcare, and DJO Global.
Market Opportunities
The major expansion opportunities for the players in this market lie in the developing countries where sports and related activities are witnessing more growth and acceptance on a professionallevel. Knee injuries segment is the growing market as it brings in more innovative products to meet growing needs of knee injuries.
Sports Medicine Market Segmentation
By Product:
- Body support and Recovery Products
- Thermal Therapy Products
- Tropical Pain Relief Products
- Braces and Support
- Performance Monitoring Devices
- Reconstruction and Repair
- Bone Reconstruction Devices
- Surgical Equipment
- Soft Tissue Repair
- Accessories
- Wraps
- Tapes
- Bandages
- Others
By Application:
- Ankle and Foot Injuries
- Knee Injuries
- Elbow and Wrist Injuries
- Shoulder Injuries
- Back and Spine Injuries
- Other Injuries
By Region:
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Brazil
- South Africa
- Saudi Arabia
- Turkey
- United Arab Emirates
- Others
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2022 to 2027?
- What will be the industry market growth from 2022 to 2027?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Share Analysis
3.3. Market Dynamics
3.3.1. Drivers
3.3.1.1. Rise in Awareness About Sports
3.3.1.2. Rising Incidence of Sports Injuries
3.3.1.3. Technological Advancements in Sports Medicine
3.3.2. Restraints
3.3.2.1. High Cost of Implants
3.3.3. Opportunities
3.3.3.1. Emerging Markets to Offer Opportunities
3.4. Industry Trends
4. Sports medicine market, By Product
4.1. Introduction
4.2. Global Sports Medicine Market Assessment and Forecast, By Product, 2017-2027
4.3. Reconstruction and Repair
4.3.1. Global Market Assessment and Forecast, By Type, 2017-2027 ($Million)
4.3.2. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.3.3. Surgical Equipment
4.3.3.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.3.4. Bone Reconstruction Devices
4.3.4.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.3.5. Soft Tissue Repair
4.3.5.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.4. Body Support And Recovery Products
4.4.1. Global Market Assessment and Forecast, By Type, 2017-2027 ($Million)
4.4.2. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.4.3. Braces and Support
4.4.3.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.4.4. Performance Monitoring Devices
4.4.4.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.4.5. Thermal therapy Products
4.4.5.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.4.6. Tropical Pain Relief Products
4.4.6.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.5. Accessories
4.5.1.1. Global Market Assessment and Forecast, By Type, 2017-2027 ($Million)
4.5.1.2. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.5.1.3. Bandages
4.5.1.3.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.5.1.4. Tapes
4.5.1.4.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.5.1.5. Wraps
4.5.1.5.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
4.5.1.6. Others
4.5.1.6.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5. Sports Medicine Market, By Application
5.1. Introduction
5.2. The sports medicine market Assessment and Forecast, By Application, 2017-2027
5.2.1. Shoulder Injuries
5.2.1.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5.2.2. Knee Injuries
5.2.2.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5.2.3. Ankle And Foot Injuries
5.2.3.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5.2.4. Elbow And Wrist Injuries
5.2.4.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5.2.5. Back and Spine Injuries
5.2.5.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
5.2.6. Other Injuries
5.2.6.1. Market Assessment and Forecast, By Region, 2017-2027 ($Million)
6. Sports Medicine Market, By Region
6.1. Introduction
6.2. Sports Medicine Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.3. Sports Medicine Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.4. North America
6.4.1. Market Assessment and Forecast, By Country, 2017-2027 ($Million)
6.4.2. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.4.3. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.4.3.1. U.S.
6.4.3.1.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.4.3.1.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.4.3.2. Canada
6.4.3.2.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.4.3.2.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.4.3.3. Mexico
6.4.3.3.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.4.3.3.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5. Europe
6.5.1. Market Assessment and Forecast, By Country, 2017-2027 ($Million)
6.5.2. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.1. Germany
6.5.3.1.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.1.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.2. France
6.5.3.2.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.2.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.3. UK
6.5.3.3.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.3.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.4. Italy
6.5.3.4.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.4.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.5. Spain
6.5.3.5.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.5.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.6. Russia
6.5.3.6.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.6.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.5.3.7. Rest of Europe
6.5.3.7.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.5.3.7.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6. Asia-Pacific
6.6.1. Market Assessment and Forecast, By Country, 2017-2027 ($Million)
6.6.2. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.1. Japan
6.6.3.1.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.1.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.2. China
6.6.3.2.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.2.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.3. Australia
6.6.3.3.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.3.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.4. India
6.6.3.4.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.4.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.5. South Korea
6.6.3.5.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.5.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.6. Taiwan
6.6.3.6.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.6.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.6.3.7. Rest of Asia-Pacific
6.6.3.7.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.6.3.7.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7. Rest of the World
6.7.1. Market Assessment and Forecast, By Country, 2017-2027 ($Million)
6.7.2. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.1. Brazil
6.7.3.1.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.1.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.2. Turkey
6.7.3.2.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.2.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.3. Saudi Arabia
6.7.3.3.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.3.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.4. South Africa
6.7.3.4.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.4.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.5. United Arab Emirates
6.7.3.5.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.5.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
6.7.3.6. Others
6.7.3.6.1. Market Assessment and Forecast, By Product, 2017-2027 ($Million)
6.7.3.6.2. Market Assessment and Forecast, By Application, 2017-2027 ($Million)
7. Company Profiles
7.1. Arhrex, Inc.
7.1.1. Business Overview
7.1.2. Product Portfolio
7.1.3. Key Financials
7.1.4. Strategic Developments
7.2. Smith & Nephew
7.2.1. Business Overview
7.2.2. Product Portfolio
7.2.3. Key Financials
7.2.4. Strategic Developments
7.3. DePuy Mitek, Inc.
7.3.1. Business Overview
7.3.2. Product Portfolio
7.3.3. Strategic Developments
7.4. Stryker Corporation
7.4.1. Business Overview
7.4.2. Product Portfolio
7.4.3. Key Financials
7.4.4. Strategic Developments
7.5. Medstar Sports Medicine
7.5.1. Business Overview
7.5.2. Product Portfolio
7.5.3. Key Financials
7.5.4. Strategic Developments
7.6. Mueller Sports Medicine Inc,
7.6.1. Business Overview
7.6.2. Product Portfolio
7.6.3. Strategic Developments
7.7. Zimmer Biomet
7.7.1. Business Overview
7.7.2. Product Portfolio
7.7.3. Key Financials
7.7.4. Strategic Developments
7.8. AlterG
7.8.1. Business Overview
7.8.2. Product Portfolio
7.8.3. Strategic Developments
7.9. Otto Bock Healthcare
7.9.1. Business Overview
7.9.2. Product Portfolio
7.9.3. Key Financials
7.9.4. Strategic Developments
7.10. DJO Global
7.10.1. Business Overview
7.10.2. Product Portfolio
7.10.3. Key Financials
7.10.4. Strategic Developments
List of Tables
Table 1.Global Sports Medicine Market, By Product, 2017-2025($Million)
Table 2.Reconstruction and Repair Devices Market, By Type, 2017-2025($Million)
Table 3.Reconstructionand Repair Devices Market, By Region, 2017-2025($Million)
Table 4.Surgical Equipment Market, By Region, 2017-2025($Million)
Table 5.BoneReconstruction Devices Market, By Region, 2017-2025($Million)
Table 6.SoftTissue Repair Market, By Region, 2017-2025($Million)
Table 7.Body Support and Recovery Products Market, By Type, 2017-2025($Million)
Table8.Body Support and Recovery Products Market, By Region, 2017-2025($Million)
Table 9.Braces and Support Market, By Region, 2017-2025($Million)
Table 10.Thermal Therapy Products Market, By Region, 2017-2025($Million)
Table 11Tropical Pain Relief Products Market, By Region, 2017-2025($Million)
Table 12.Accessories Market, By Type, 2017-2025($Million)
Table 13.Accessories Market, By Region, 2017-2025($Million)
Table 14.Bandages Market, By Region, 2017-2025($Million)
Table 15.Tapes Market, By Region, 2017-2025($Million)
Table 16.Wraps Market, By Region, 2017-2025($Million)
Table 17.Global Sports Medicine Market, By Application, 2017-2025($Million)
Table 18.Shoulder Injuries Market, By Region, 2017-2025 ($Million)
Table 19.Knee Injuries Market, By Region, 2017-2025 ($Million)
Table 20.Ankle and Foot Injuries Market, By Region, 2017-2025 ($Million)
Table 21.Back and Spine Injuries Market, By Region, 2017-2025 ($Million)
Table 22.Other Injuries Market, By Region, 2017-2025 ($Million)
Table 23.Sports Medicine Market, By Region, 2017-2025 ($Million)
Table24.North America Sports Medicine Market, By Country, 2017-2025 ($Million)
Table25.North America Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 26.North America Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 27.U.S. Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 28.U.S. Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 29.Canada Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 30.Canada Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 31.Mexico Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 32.Mexico Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 33.Europe Sports Medicine Market, By Country, 2017-2025 ($Million)
Table 34.Europe Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 35.Europe Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 36.Germany Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 37.Germany Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 38.France Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 39.France Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 40.UK Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 41.UK Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 42.Italy Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 43.Italy Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 44.Spain Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 45.Spain Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 46.Russia Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 47.Russia Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 48.Rest of Europe Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 49.Rest of Europe Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 50.Asia-Pacific Sports Medicine Market, By Country, 2017-2025 ($Million)
Table 51.Asia-Pacific Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 52.Asia-Pacific Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 53.Japan Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 54.Japan Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 55.China Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 56.China Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 57.Australia Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 58.Australia Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 59.India Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 60.India Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 61.South Korea Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 62.South Korea Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 63.Taiwan Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 64.Taiwan Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 65.Rest of Asia-Pacific Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 66.Rest of Asia-Pacific Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 67.Rest of the World Sports Medicine Market, By Country, 2017-2025 ($Million)
Table 68.Rest of the World Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 69.Rest of the World Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 70.Brazil Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 71.Brazil Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 72.Turkey Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 73.Turkey Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 74.Saudi Arabia Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 75.Saudi Arabia Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 76.South Africa Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 77.South Africa Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 78.United Arab Emirates Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 79.United Arab Emirates Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 80.Other Sports Medicine Market, By Product, 2017-2025 ($Million)
Table 81.Other Sports Medicine Market, By Application, 2017-2025 ($Million)
Table 82.Arthrex Inc.: Key Strategic Developments, 2017-2017
Table 83.Smith & Nephew: Key Strategic Developments, 2017-2017
Table 84.DePuy Mitek Inc.: Key Strategic Developments, 2017-2017
Table 85.Stryker Corporation: Key Strategic Developments, 2017-2017
Table 86.Medstar Sports Medicine: Key Strategic Developments, 2017-2017
Table 87.Mueller Sports Medicine Inc.: Key Strategic Developments, 2017-2017
Table 88.Zimmer Biomet: Key Strategic Developments, 2017-2017
Table 89.AltergG: Key Strategic Developments, 2017-2017
Table 90.Otto Bock Healthcare, Inc.: Key Strategic Developments, 2017-2017
Table 91.DJO Global: Key Strategic Developments, 2017-2017
Orthopedic Orthotics Market by Type - Global Industry Analysis and Forecast to 2025
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
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Demand Side |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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