The Compression Therapy Market size was valued at USD 3.61 Billion in 2022 & is estimated to reach USD 5.62 Billion by 2030 With a growing CAGR of 5.7% Over the Forecast Period of 2023-2030.
Compression therapy is a medical treatment that involves the application of external pressure to a body part in order to improve circulation, reduce swelling, and manage various medical conditions. It's commonly used for conditions like venous insufficiency, lymphedema, and deep vein thrombosis, and to promote wound healing. The compression therapy market refers to the industry surrounding the manufacturing, distribution, and sale of compression therapy products and devices. Compression therapy products can include, Compression Garments specially designed clothing items, such as stockings, sleeves, gloves, and bandages, that apply controlled pressure to specific areas of the body. They help improve blood flow by assisting the veins in transporting blood back to the heart more efficiently. Compression Pumps devices use mechanical pressure to aid circulation. They typically consist of an inflatable garment connected to a pump that intermittently inflates and deflates, promoting blood flow and reducing swelling.
.png)
Get more information on Compression Therapy Market - Request Free Sample Report
Compression Bandages are Elastic bandages or wraps that are applied to specific areas to provide graduated pressure. They are often used in wound care and for managing conditions like lymphedema. Compression Stockings are Elastic stockings that apply pressure to the legs, helping to prevent blood pooling and improve circulation. They are commonly used by individuals with venous insufficiency or those at risk of deep vein thrombosis. Compression Accessories are Various accessories such as padding, liners, and fasteners that complement and enhance the effectiveness of compression therapy. The compression therapy market has been growing due to factors like an ageing population, increased prevalence of chronic conditions like diabetes and obesity, and the rising awareness of the benefits of compression therapy for various medical conditions. Technological advancements have also led to the development of more comfortable and effective compression therapy products. Market players in the compression therapy industry include medical device manufacturers, distributors, healthcare providers, and retail outlets. The market size and growth rate depend on factors like healthcare policies, patient awareness, advancements in medical technology, and the prevalence of conditions that require compression therapy. The demand is expected to increase over the forecast period due to the potential advantages of the use of compression therapy products in treating specific diseases such as leg and foot volume reduction, vesicular retching or high blood pressure. Furthermore, the availability of many alternatives or modalities to provide efficient therapy, ranging from bandages and stockings to pneumatic devices, offers patients a variety of possibilities. The market is primarily driven by an increase in the number of orthopaedic surgeries as a result of a considerable increase in the frequency of accidents and an obese population worldwide. The growing senior population is predisposed to orthopaedic diseases, adding to the increased number of orthopaedic treatments.
DRIVERS:
Conditions like venous insufficiency, lymphedema, and deep vein thrombosis are becoming more common due to factors such as ageing populations
Increasing Awareness is the driver of the Compression Therapy Market
Awareness among both patients and healthcare professionals about the benefits of compression therapy has been growing. As more people become informed about the positive effects of compression therapy on circulation, swelling reduction, and wound healing, demand for these products has increased.
RESTRAIN:
Some compression therapy products, especially advanced devices and custom-made garments, can be relatively expensive.
Limited Reimbursement Policies are the driver of the Compression Therapy Market.
In some regions, reimbursement policies for compression therapy products may be limited, making it challenging for patients to afford these treatments, especially for chronic conditions that require long-term therapy.
OPPORTUNITY:
Continued advancements in materials science, wearable technology, and smart textiles could lead to the development.
The Compression Therapy Market offers the potential for customization and personalization.
Tailoring compression therapy products to individual patient needs could be a significant opportunity. Custom-made garments and devices that consider a patient's specific condition, body shape, and preferences could enhance treatment outcomes and patient comfort.
CHALLENGES:
Applying and adjusting compression garments correctly requires proper training.
Economic Factors are the challenges of the Compression Therapy Market.
High costs of certain compression therapy products can limit access, especially in regions with limited healthcare resources or for patients without sufficient insurance coverage.
One of the most important contemporary global business challenges is the war between Ukraine and Russia. It has evolved into a political and social problem that has an impact on corporate practices all around the world. While the matter is often discussed in the business press, there has been little scholarly research on it. To fill this void, this article examines the impact of the conflict on international commerce in terms of society's opinion of Ukrainian or Russian economic activity. This includes emphasising how war can entail both direct military engagement and societal interaction. An unexpected winter storm decimated the plastics sector, destroying Texas electrical lines and destroying 82% of US resin output. As if the extensive aftereffects of the natural catastrophe weren't enough for the plastics sector to deal with, significant price increases in polypropylene (PP) and polyethene (PE) and a 32% reduction in production capacity added to the strain. In Russia Ukraine war the compression therapy market increases its product & services prices put 2.2-2.8%.
IMPACT OF ONGOING RECESSION
For years, the healthcare business has been regarded as recession-proof. When health insurance covers a major amount of healthcare expenditures, patients are less price sensitive. The occupational licencing rules for healthcare practitioners prohibit healthcare responsibilities from being reassigned to other workers in response to cost constraints. The likelihood of a recession in the next 12 months is 30%, which is more than double the probability a year ago. According to economists polled by Reuters in 2023, there is a 42% chance of a recession. Prices were up 8.2 per cent year on year in February 2022, the highest yearly increase in 40 years. Inflationary pressures undermine purchasing power and consumer confidence, prompting the Federal Reserve to tighten. The compression therapy market is gaining profit in an ongoing recession up to 1.5-2.4%.
By Technique
Dynamic Compression Therapy
Static Compression Therapy
By Application
Deep Vein Thrombosis Treatment
Varicose Vein Treatment
Leg Ulcer Treatment
Lymphedema Treatment
Other Applications
By Distribution Channel
Retail pharmacies
Hospital pharmacies
E-commerce
Others
.png)
Need any customization research on Compression Therapy Market - Enquiry Now
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
REGIONAL ANALYSIS
North America: The North American compression therapy market is dominated by factors such as substantial expenditure in research & development, new product introductions, and the high prevalence of venous disorders in countries such as the United States. The high frequency of disorders such as venous leg ulcers and lymphedema in this region, together with the expanding elderly population, will drive the market expansion of compression therapy in this region.
Asia Pacific: Throughout the projection period, Asia Pacific is expected to grow at a rapid pace. Key companies' substantial R&D investments, as well as constant attempts to commercialise goods at a cheaper price, drive the industry. Furthermore, increased disposable income, which increases the likelihood of using these goods, and continual improvement of healthcare infrastructure are expected to present lucrative development possibilities for the market.
Some major key players in Compression Therapy Market are Bio Compression Systems, Inc., Cardinal Health, Hartmann AG, Julius Zorn GmbH, SIGVARIS, Medi GmbH & Co., ArjoHuntleigh, BSN Medical GmbH, Spectrum Healthcare, 3M Health Care and other players.
In 2022: Koya Medical secured Series B financing to accelerate its portfolio of active compression treatments for Lymphedema and Venous Disorders, which is worth USD 26 million.
In 2022: Therabody launched the second generation of Recovery Air pneumatic compression boots with advanced technology to make it easier for people to recover effectively.
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.61 Bn |
| Market Size by 2030 | US$ 5.62 Bn |
| CAGR | CAGR of 5.7% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technique (Dynamic Compression Therapy, Static Compression Therapy) • By Application (Deep Vein Thrombosis Treatment, Varicose Vein Treatment, Leg Ulcer Treatment, Lymphedema Treatment, Other Applications) • By Distribution channel (Retail pharmacies, Hospital pharmacies, E-commerce, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Bio Compression Systems, Inc., Cardinal Health, Hartmann AG, Julius Zorn GmbH, SIGVARIS, Medi GmbH & Co., ArjoHuntleigh, BSN Medical GmbH, Spectrum Healthcare, 3M Health Care |
| Key Drivers | • Conditions like venous insufficiency, lymphedema, and deep vein thrombosis are becoming more common due to factors such as ageing populations. • Increasing Awareness is the driver of the Compression Therapy Market. |
| Market Restraints | • Some compression therapy products, especially advanced devices and custom-made garments, can be relatively expensive. • Limited Reimbursement Policies are the driver of the Compression Therapy Market. |
Ans. The Compound Annual Growth rate for Compression Therapy Market over the forecast period is 5.2%.
Ans. USD 5.31 million is the projected Compression Therapy Market size of the market by 2030.
Ans. By product type, the compression garment category is the market leader.
Ans. The rising frequency of venous and lymphatic illnesses, as well as increased research and development activity in this industry, are driving market expansion.
Ans. Some of the top market trends include the increasing use of compression bandages and stockings for the treatment of venous leg ulcers and lymphedema, as well as strategic expenditures by key companies in extending treatment alternatives.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Compression Therapy Market Segmentation, By Technique
8.1 Dynamic Compression Therapy
8.2 Static Compression Therapy
9. Compression Therapy Market Segmentation, By Application
9.1 Deep Vein Thrombosis Treatment
9.2 Varicose Vein Treatment
9.3 Leg Ulcer Treatment
9.4 Lymphedema Treatment
9.5 Other Applications
10. Compression Therapy Market Segmentation, By Distribution Channel
10.1 Retail pharmacies
10.2 Hospital pharmacies
10.3 E-commerce
10.4 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Compression Therapy Market by Country
11.2.2 North America Compression Therapy Market by Technique
11.2.3 North America Compression Therapy Market by Application
11.2.4 North America Compression Therapy Market by Distribution Channel
11.2.5 USA
11.2.5.1 USA Compression Therapy Market by Technique
11.2.5.2 USA Compression Therapy Market by Application
11.2.5.3 USA Compression Therapy Market by Distribution Channel
11.2.6 Canada
11.2.6.1 Canada Compression Therapy Market by Technique
11.2.6.2 Canada Compression Therapy Market by Application
11.2.6.3 Canada Compression Therapy Market by Distribution Channel
11.2.7 Mexico
11.2.7.1 Mexico Compression Therapy Market by Technique
11.2.7.2 Mexico Compression Therapy Market by Application
11.2.7.3 Mexico Compression Therapy Market by Distribution Channel
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Compression Therapy Market by Country
11.3.1.2 Eastern Europe Compression Therapy Market by Technique
11.3.1.3 Eastern Europe Compression Therapy Market by Application
11.3.1.4 Eastern Europe Compression Therapy Market by Distribution Channel
11.3.1.5 Poland
11.3.1.5.1 Poland Compression Therapy Market by Technique
11.3.1.5.2 Poland Compression Therapy Market by Application
11.3.1.5.3 Poland Compression Therapy Market by Distribution Channel
11.3.1.6 Romania
11.3.1.6.1 Romania Compression Therapy Market by Technique
11.3.1.6.2 Romania Compression Therapy Market by Application
11.3.1.6.4 Romania Compression Therapy Market by Distribution Channel
11.3.1.7 Turkey
11.3.1.7.1 Turkey Compression Therapy Market by Technique
11.3.1.7.2 Turkey Compression Therapy Market by Application
11.3.1.7.3 Turkey Compression Therapy Market by Distribution Channel
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Compression Therapy Market by Technique
11.3.1.8.2 Rest of Eastern Europe Compression Therapy Market by Application
11.3.1.8.3 Rest of Eastern Europe Compression Therapy Market by Distribution Channel
11.3.2 Western Europe
11.3.2.1 Western Europe Compression Therapy Market by Country
11.3.2.2 Western Europe Compression Therapy Market by Technique
11.3.2.3 Western Europe Compression Therapy Market by Application
11.3.2.4 Western Europe Compression Therapy Market by Distribution Channel
11.3.2.5 Germany
11.3.2.5.1 Germany Compression Therapy Market by Technique
11.3.2.5.2 Germany Compression Therapy Market by Application
11.3.2.5.3 Germany Compression Therapy Market by Distribution Channel
11.3.2.6 France
11.3.2.6.1 France Compression Therapy Market by Technique
11.3.2.6.2 France Compression Therapy Market by Application
11.3.2.6.3 France Compression Therapy Market by Distribution Channel
11.3.2.7 UK
11.3.2.7.1 UK Compression Therapy Market by Technique
11.3.2.7.2 UK Compression Therapy Market by Application
11.3.2.7.3 UK Compression Therapy Market by Distribution Channel
11.3.2.8 Italy
11.3.2.8.1 Italy Compression Therapy Market by Technique
11.3.2.8.2 Italy Compression Therapy Market by Application
11.3.2.8.3 Italy Compression Therapy Market by Distribution Channel
11.3.2.9 Spain
11.3.2.9.1 Spain Compression Therapy Market by Technique
11.3.2.9.2 Spain Compression Therapy Market by Application
11.3.2.9.3 Spain Compression Therapy Market by Distribution Channel
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Compression Therapy Market by Technique
11.3.2.10.2 Netherlands Compression Therapy Market by Application
11.3.2.10.3 Netherlands Compression Therapy Market by Distribution Channel
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Compression Therapy Market by Technique
11.3.2.11.2 Switzerland Compression Therapy Market by Application
11.3.2.11.3 Switzerland Compression Therapy Market by Distribution Channel
11.3.2.1.12 Austria
11.3.2.12.1 Austria Compression Therapy Market by Technique
11.3.2.12.2 Austria Compression Therapy Market by Application
11.3.2.12.3 Austria Compression Therapy Market by Distribution Channel
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Compression Therapy Market by Technique
11.3.2.13.2 Rest of Western Europe Compression Therapy Market by Application
11.3.2.13.3 Rest of Western Europe Compression Therapy Market by Distribution Channel
11.4 Asia-Pacific
11.4.1 Asia-Pacific Compression Therapy Market by Country
11.4.2 Asia-Pacific Compression Therapy Market by Technique
11.4.3 Asia-Pacific Compression Therapy Market by Application
11.4.4 Asia-Pacific Compression Therapy Market by Distribution Channel
11.4.5 China
11.4.5.1 China Compression Therapy Market by Technique
11.4.5.2 China Compression Therapy Market by Distribution Channel
11.4.5.3 China Compression Therapy Market by Application
11.4.6 India
11.4.6.1 India Compression Therapy Market by Technique
11.4.6.2 India Compression Therapy Market by Application
11.4.6.3 India Compression Therapy Market by Distribution Channel
11.4.7 japan
11.4.7.1 Japan Compression Therapy Market by Technique
11.4.7.2 Japan Compression Therapy Market by Application
11.4.7.3 Japan Compression Therapy Market by Distribution Channel
11.4.8 South Korea
11.4.8.1 South Korea Compression Therapy Market by Technique
11.4.8.2 South Korea Compression Therapy Market by Application
11.4.8.3 South Korea Compression Therapy Market by Distribution Channel
11.4.9 Vietnam
11.4.9.1 Vietnam Compression Therapy Market by Technique
11.4.9.2 Vietnam Compression Therapy Market by Application
11.4.9.3 Vietnam Compression Therapy Market by Distribution Channel
11.4.10 Singapore
11.4.10.1 Singapore Compression Therapy Market by Technique
11.4.10.2 Singapore Compression Therapy Market by Application
11.4.10.3 Singapore Compression Therapy Market by Distribution Channel
11.4.11 Australia
11.4.11.1 Australia Compression Therapy Market by Technique
11.4.11.2 Australia Compression Therapy Market by Application
11.4.11.3 Australia Compression Therapy Market by Distribution Channel
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Compression Therapy Market by Technique
11.4.12.2 Rest of Asia-Pacific Compression Therapy Market by Application
11.4.12.3 Rest of Asia-Pacific Compression Therapy Market by Distribution Channel
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Compression Therapy Market by Country
11.5.1.2 Middle East Compression Therapy Market by Technique
11.5.1.3 Middle East Compression Therapy Market by Application
11.5.1.4 Middle East Compression Therapy Market by Distribution Channel
11.5.1.5 UAE
11.5.1.5.1 UAE Compression Therapy Market by Technique
11.5.1.5.2 UAE Compression Therapy Market by Application
11.5.1.5.3 UAE Compression Therapy Market by Distribution Channel
11.5.1.6 Egypt
11.5.1.6.1 Egypt Compression Therapy Market by Technique
11.5.1.6.2 Egypt Compression Therapy Market by Application
11.5.1.6.3 Egypt Compression Therapy Market by Distribution Channel
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Compression Therapy Market by Technique
11.5.1.7.2 Saudi Arabia Compression Therapy Market by Application
11.5.1.7.3 Saudi Arabia Compression Therapy Market by Distribution Channel
11.5.1.8 Qatar
11.5.1.8.1 Qatar Compression Therapy Market by Technique
11.5.1.8.2 Qatar Compression Therapy Market by Application
11.5.1.8.3 Qatar Compression Therapy Market by Distribution Channel
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Compression Therapy Market by Technique
11.5.1.9.2 Rest of Middle East Compression Therapy Market by Application
11.5.1.9.3 Rest of Middle East Compression Therapy Market by Distribution Channel
11.5.2 Africa
11.5.2.1 Africa Compression Therapy Market by Country
11.5.2.2 Africa Compression Therapy Market by Technique
11.5.2.3 Africa Compression Therapy Market by Application
11.5.2.4 Africa Compression Therapy Market by Distribution Channel
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Compression Therapy Market by Technique
11.5.2.5.2 Nigeria Compression Therapy Market by Application
11.5.2.5.3 Nigeria Compression Therapy Market by Distribution Channel
11.5.2.6 South Africa
11.5.2.6.1 South Africa Compression Therapy Market by Technique
11.5.2.6.2 South Africa Compression Therapy Market by Application
11.5.2.6.3 South Africa Compression Therapy Market by Distribution Channel
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Compression Therapy Market by Technique
11.5.2.7.2 Rest of Africa Compression Therapy Market by Application
11.5.2.7.3 Rest of Africa Compression Therapy Market by Distribution Channel
11.6 Latin America
11.6.1 Latin America Compression Therapy Market by Country
11.6.2 Latin America Compression Therapy Market by Technique
11.6.3 Latin America Compression Therapy Market by Application
11.6.4 Latin America Compression Therapy Market by Distribution Channel
11.6.5 Brazil
11.6.5.1 Brazil America Compression Therapy Market by Technique
11.6.5.2 Brazil America Compression Therapy Market by Application
11.6.5.3 Brazil America Compression Therapy Market by Distribution Channel
11.6.6 Argentina
11.6.6.1 Argentina America Compression Therapy Market by Technique
11.6.6.2 Argentina America Compression Therapy Market by Application
11.6.6.3 Argentina America Compression Therapy Market by Distribution Channel
11.6.7 Colombia
11.6.7.1 Colombia America Compression Therapy Market by Technique
11.6.7.2 Colombia America Compression Therapy Market by Application
11.6.7.3 Colombia America Compression Therapy Market by Distribution Channel
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Compression Therapy Market by Technique
11.6.8.2 Rest of Latin America Compression Therapy Market by Application
11.6.8.3 Rest of Latin America Compression Therapy Market by Distribution Channel
12 Company Profile
12.1 Bio Compression Systems, Inc.
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Cardinal Health,
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Hartmann AG
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Julius Zorn GmbH
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 SIGVARIS
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Medi GmbH & Co
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 ArjoHuntleigh
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 BSN Medical GmbH
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Spectrum Healthcare
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 3M Health Care
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Healthcare IT Outsourcing Market Size was valued at USD 68.86 billion in 2022, and is expected to reach USD 118.40 billion by 2030 and grow at a CAGR of 7.01% over the forecast period 2023-2030.
The Angio Suites Market size was valued at USD 1245 million in 2022 and is expected to grow to USD 2104.20 million by 2030 and grow at a CAGR of 6.78% over the forecast period of 2023-2030.
The Wearable Breast Pumps Market Size was valued at USD 526.91 million in 2022 and is expected to reach USD 898.58 million by 2030, and grow at a CAGR of 6.9% over the forecast period 2023-2030.
The Precision Medicine Software Market Size was valued at USD 1.66 billion in 2022, and is expected to reach USD 4.03 billion by 2030, and grow at a CAGR of 11.7% over the forecast period 2023-2030.
The Clinical Trial Management System Market Size was valued at USD 1.25 billion in 2022, and is expected to reach USD 3.57 billion by 2030 and grow at a CAGR of 14% over the forecast period 2023-2030.
The Medical Image Management Market Size was valued at USD 4.17 billion in 2022, and is expected to reach USD 7.67 billion by 2030, and grow at a CAGR of 7.9% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
