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Medical X-ray Report Scope & Overview:

Medical X-ray Market was estimated at USD 13.7 billion in 2022 and is poised to reach at 21.8 billion in 2030 anticipated to expand at a compound annual growth rate approx. CAGR of 6.0% for the forecast period of 2023-2030.

The market is being driven primarily by the rise in demand for early diagnosis of chronic illnesses. Additional factors that are anticipated to support market expansion include ongoing technical developments, an increase in product creation, better finance, and government initiatives, particularly in developing nations like China and India. For instance, the Indian government introduced X-Ray Setu in June 2021 as a free Artificial Intelligence (AI) platform to help physicians with early COVID treatments. Digital radiology technologies have played a significant role in the dramatic evolution of medical imaging over the past several years. The foundation of the healthcare sector is diagnostic accuracy, and digital X-ray imaging significantly contributes to enhancing diagnostic accuracy. Additionally, the development of the industry has been aided by the inclusion of AI in these systems. For instance, in August 2021, GE Healthcare announced a collaboration with Amazon Web Services (AWS) to provide hospitals and healthcare organisations with AI and cloud-based imaging solutions. Major market participants are also working to create cutting-edge modalities like multimodal and hybrid imaging systems. For instance, Siemens Healthiness will introduce Luminoso Impulse in October 2021. This 2-in-1 remote-controlled imaging system combines radiography and fluoroscopy for increased clinical productivity. Market expansion is anticipated to be fuelled by rising awareness and uptake of preventive healthcare and illness screening programmes. It is anticipated that an improvement in picture output quality would increase the accuracy of early illness diagnosis. This can aid in the quicker detection and treatment of a number of ailments that are life-threatening, including cancer and a number of cardiovascular diseases. So, it is anticipated that increasing x-ray system use for illness diagnosis will support market expansion.

Medical X-ray Market Revenue Analysis

MARKET DYNAMICS

 DRIVERS

  • Technological Developments and growing Incidence of Chronic Diseases.

  • Growing Ageing Population and Governmental Initiatives and Funding.

The medical X-ray market is expanding as a result of ongoing developments in X-ray technology, including digital imaging and portable X-ray equipment. These developments provide better picture quality, quicker outcomes, and more patient comfort. The growing prevalence of chronic diseases, including cancer, respiratory disorders, and cardiovascular diseases, has boosted the need for diagnostic imaging treatments, including X-rays, and as a result, has led to market expansion. As the world's population ages, more medical imaging operations are needed since older people are more likely to develop different illnesses and need regular diagnostic tests. Governments all around the world are putting up plans to upgrade the healthcare system and widen access to cutting-edge medical equipment like X-ray machines.

RESTRAIN

  • High Initial Cost of X-ray Systems.

  • Regulatory Requirements That are strict.

The purchase of X-ray systems may be rather expensive, particularly for sophisticated and high-resolution equipment. Adoption may be hampered by this, especially in underdeveloped areas with constrained healthcare expenditures. Despite the fact that X-rays are typically regarded as harmless, prolonged radiation exposure has the potential to cause health problems. The use of X-rays could be restricted in particular circumstances due to worries about radiation exposure and its cumulative effects.

In order to guarantee both patient safety and gadget effectiveness, the medical X-ray industry is subject to stringent laws and standards. For market participants, complying with these requirements may be difficult and expensive.

OPPORTUNITY

  • Emerging Markets and Artificial Intelligence (AI) and Machine Learning (ML) Integration.

Because of their developing healthcare infrastructure, rising healthcare spending, and expanding patient populations, developing areas like Asia-Pacific and Latin America offer the medical X-ray market considerable potential. The need for point-of-care X-ray systems is growing. The necessity for quick diagnostic capabilities in emergency circumstances, distant locations, and home healthcare settings is driving an increase in demand for portable and point-of-care X-ray devices. The combination of AI and ML technologies with X-ray equipment enables quicker and more precise picture interpretation, supporting medical personnel in making diagnoses and formulating treatment plans. Market expansion prospects are provided by this combination.

CHALLENGES

  • Alternative imagine modalities and Access to healthcare facilities and diagnostic services.

  • Ethical and legal issues.

Alternative imaging modalities are in direct competition with X-rays in a number of applications. Examples include MRIs, CT scans, and ultrasounds. These alternative imaging technologies are a rival to medical X-rays in the market, which might restrain their expansion in some sectors. Access to healthcare facilities and diagnostic imaging services may be restricted in distant or underdeveloped areas, which can impede the uptake of X-ray equipment and have an adverse effect on market expansion.Radiation safety, patient privacy, and informed consent are among the ethical and legal issues raised by the use of X-ray imaging. For market participants, addressing these issues and maintaining compliance with the rules may be difficult.

IMPACT OF RUSSIAN UKRAINE WAR

Economic instability can result from armed conflict in the conflicted areas as well as in neighbouring nations. Because of this volatility, expenditures on healthcare infrastructure, such as the purchase of medical X-ray equipment, might be reduced, which could have an effect on total healthcare spending and budgets. The war may put a burden on the region's healthcare system and cause less attention to be paid to non-emergency medical treatment. Investments in cutting-edge medical technology, such as medical X-ray equipment, may be constrained due to the allocation of resources, including human and financial resources, to urgent healthcare requirements.

Due to the higher prevalence of injuries and trauma, there may be a greater need for diagnostic imaging services, such as X-rays, in conflict zones. Medical X-ray systems may experience a brief spike in demand as a result, especially in hospitals and other institutions that handle

IMPACT OF ONGOING RECESSION

Healthcare institutions may postpone capital expenditures, such as the purchase of new medical equipment like X-ray systems, during a recession. They can put vital services first and concentrate on effectively using the resources already available. As healthcare providers put off making big expenditures, this might cause the market to halt. Impact on Insurance and Reimbursement procedures and insurance coverage may be impacted by economic downturns. Governments and insurance companies may implement cost-cutting initiatives like lowered reimbursement rates or more stringent coverage requirements. This may have an impact on the capacity of healthcare organisations to invest in medical X-ray technology and their financial sustainability. Change in Purchase Patterns During economic downturns, there could be a change in how frequently medical X-ray equipment is purchased. To reduce expenses, healthcare practitioners could choose to acquire refurbished or used equipment instead of new systems.

KEY MARKET SEGMENTS

By Modality

  • Radiography

  • Fluoroscopy

  • Mammography

By Technology

  • Digital radiography

  • Computed radiography

By Mobility

  • Stationary

  • Mobile

By End-use

  • Hospitals

  • Diagnostic imaging centres

Medical X-ray Market Segmentation Analysis

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin American

Key Players

The Major Key Players are Koninklijke Philips N.V., Siemens Healthineers AG, GE Healthcare, Canon Medical Systems, Shimadzu Corporation, FUJIFILM SonoSite, Inc., Carestream, Mindray Medical International Limited, Hologic, Inc, New Medical Imaging, AGFA and others.

Siemens Healthineers AG-Company Financial Analysis

Company Landscape Analysis

RECENT DEVELOPMENT

North America

In 2021, North America led the market and contributed 30% of total sales. Strong buying power, an equitable reimbursement system, the growing acceptance of contemporary technologies, and enhanced healthcare infrastructure are some of the factors influencing the industry. For instance, Shimadzu Medical Systems USA announced in August 2021 that Benefits Orthopaedic will house the first installation of their RADspeed Pro style version with GLIDE Technology, DR system in North America.

Asia Pacific

The market for x-ray systems is anticipated to grow at the quickest CAGR in Asia Pacific during the projected period as a result of the region's booming need for improved imaging tools and encouraging government measures to upgrade its healthcare infrastructure. Growth is anticipated to be fueled by the rapidly expanding economies and better healthcare systems in Southeast Asian nations like China, Japan, and India. For instance, according to Sam Radwan of ENHANCE International, China's projected healthcare spending in 2050 may be higher than the whole GDP of Germany in 2020. In addition, it is anticipated that the ageing population and rising frequency of chronic diseases will boost market expansion in the Asia-Pacific region.    

RECENT DEVELOPMENT

CANON Medical System:

Canon Medical Systems Corporation bought NRT X-RAY A/S in March 2022 to improve and develop its X-ray operations across Europe.

Siemens Healthcare:

In order to increase the quality of healthcare through pricey pharmaceutical and digital health solutions, Siemens Healthcare Gmbh partnered with Penta Hospital International to give its services to a private project for a next-generation hospital building in Bratislava. Computed tomography, advanced treatments, MRI, X-ray, molecular imaging, and nuclear medicine equipment are among the services offered.

Medical X-ray Market Report Scope:
Report Attributes Details
Market Size in 2022  US$ 13.7 Bn
Market Size by 2030  US$ 21.8 Bn
CAGR   CAGR of 6.0 % 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 Modality (Radiography, Fluoroscopy, Mammography)
• By Technology (Digital radiography, Computed radiography)
• By Mobility (Stationary, Mobile)
• By End-use (Hospitals, Diagnostic imaging centres)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Koninklijke Philips N.V., Siemens Healthineers AG, GE Healthcare, Canon Medical Systems, Shimadzu Corporation, FUJIFILM SonoSite, Inc., Carestream, Mindray Medical International Limited, Hologic, Inc, New Medical Imaging, AGFA
Key Drivers • Technological Developments and growing Incidence of Chronic Diseases.
• Growing Ageing Population and Governmental Initiatives and Funding.
Market Opportunities • Emerging Markets and Artificial Intelligence (AI) and Machine Learning (ML) Integration.

 

Frequently Asked Questions

Ans: The CAGR Growth rate of Botulinum Toxin Market is approx. CAGR 6.0% for the forecast period of 2023-2030.

Ans: The projected market size of Botulinum Toxin Market at USD 13.7 billion in 2022 and is poised to reach at 21.8 billion in 2030.

Ans: The Major Key Players are Koninklijke Philips N.V., Siemens Healthineers AG, GE Healthcare, Canon Medical Systems, Shimadzu Corporation, FUJIFILM SonoSite, Inc., Carestream, Mindray Medical International Limited, Hologic, Inc, New Medical Imaging, AGFA and others.

Ans: The increased prevalence of orthopaedic and chromic conditions may cause the North American medical X-ray market valuation to surpass USD 7.3 billion by 2030.

Ans: By Technology type, the digital segment will lead the market.

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
4.1Impact of the Ukraine-Russia 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
4.3 Supply Demand Gap Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Medical X-ray Market, By Modality
8.1 Radiography
8.2 Fluoroscopy
8.3 Mammography

9. Medical X-ray Market, By Technology
9.1 Digital radiography
9.2 Computed radiography

10. Medical X-ray Market, By Mobility
10.1 Stationary
10.2 Mobile

11 Medical X-ray Market, By End-use
11.1 Hospitals
11.2 Diagnostic imaging centres

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Medical X-ray Market by Country
12.2.2North America Medical X-ray Market by Modality
12.2.3 North America Medical X-ray Market by Technology
12.2.4 North America Medical X-ray Market by Mobility
12.2.5 North America Medical X-ray Market by End-user
12.2.6 USA
12.2.6.1 USA Medical X-ray Market by Modality
12.2.6.2 USA Medical X-ray Market by Technology
12.2.6.3 USA Medical X-ray Market by Mobility
12.2.6.4 USA Medical X-ray Market by End-user
12.2.7 Canada
12.2.7.1 Canada Medical X-ray Market by Modality
12.2.7.2 Canada Medical X-ray Market by Technology
12.2.7.3 Canada Medical X-ray Market by Mobility
12.2.7.4 Canada Medical X-ray Market by End-user
12.2.8 Mexico
12.2.8.1 Mexico Medical X-ray Market by Modality
12.2.8.2 Mexico Medical X-ray Market by Technology
12.2.8.3 Mexico Medical X-ray Market by Mobility
12.2.8.4 Mexico Medical X-ray Market by End-user
12.3 Europe
12.3.1 Europe Medical X-ray Market by country
12.3.2 Europe Medical X-ray Market by Modality
12.3.3 Europe Medical X-ray Market by Technology
12.3.4 Europe Medical X-ray Market by Mobility
12.3.5 Europe Medical X-ray Market by End-user
12.3.6 Germany
12.3.6.1 Germany Medical X-ray Market by Modality
12.3.6.2 Germany Medical X-ray Market by Technology
12.3.6.3 Germany Medical X-ray Market by Mobility
12.3.6.4 Germany Medical X-ray Market by End-user
12.3.7 UK
12.3.7.1 UK Medical X-ray Market by Modality
12.3.7.2 UK Medical X-ray Market by Technology
12.3.7.3 UK Medical X-ray Market by Mobility
12.3.7.4 UK Medical X-ray Market by End-user
12.3.8 France
12.3.8.1 France Medical X-ray Market by Modality
12.3.8.2 France Medical X-ray Market by Technology
12.3.8.3 France Medical X-ray Market by Mobility
12.3.8.4 France Medical X-ray Market by End-user
12.3.9 Italy
12.3.9.1 Italy Medical X-ray Market by Modality
12.3.9.2 Italy Medical X-ray Market by Technology
12.3.9.3 Italy Medical X-ray Market by Mobility
12.3.9.4 Italy Medical X-ray Market by End-user
12.3.10 Spain
12.3.10.1 Spain Medical X-ray Market by Modality
12.3.10.2 Spain Medical X-ray Market by Technology
12.3.10.3 Spain Medical X-ray Market by Mobility
12.3.10.4 Spain Medical X-ray Market by End-user
12.3.11 The Netherlands
12.3.11.1 Netherlands Medical X-ray Market by Modality
12.3.11.2 Netherlands Medical X-ray Market by Technology
12.3.11.3 Netherlands Medical X-ray Market by Mobility
12.3.11.4 Netherlands Medical X-ray Market by End-user
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Medical X-ray Market by Modality
12.3.12.2 Rest of Europe Medical X-ray Market by Technology
12.3.12.3 Rest of Europe Medical X-ray Market by Mobility
12.3.12.4 Rest of Europe Medical X-ray Market by End-user
12.4 Asia-Pacific
12.4.1 Asia Pacific Medical X-ray Market by Country
12.4.2 Asia Pacific Medical X-ray Market by Modality
12.4.3 Asia Pacific Medical X-ray Market by Technology
12.4.4Asia Pacific Medical X-ray Market by Mobility
12.4.5Asia Pacific Medical X-ray Market by End-user
12.4.6 Japan
12.4.6.1 Japan Medical X-ray Market by Modality
12.4.6.2 Japan Medical X-ray Market by Technology
12.4.6.3 Japan Medical X-ray Market by Mobility
12.4.6.4 Japan Medical X-ray Market by End-user
12.4.7 South Korea
12.4.7.1 South Korea Medical X-ray Market by Modality
12.4.7.2 South Korea Medical X-ray Market by Technology
12.4.7.3 South Korea Medical X-ray Market by Mobility
12.4.7.4 South Korea Medical X-ray Market by End-user
12.4.8 China
12.4.8.1 China Medical X-ray Market by Modality
12.4.8.2 China Medical X-ray Market by Technology
12.4.8.3 China Medical X-ray Market by Mobility
12.4.8.4 China Medical X-ray Market by End-user
12.4.9 India
12.4.9.1 India Medical X-ray Market by Modality
12.4.9.2 India Medical X-ray Market by Technology
12.4.9.3 India Medical X-ray Market by Mobility
12.4.9.4 India Medical X-ray Market by End-user
12.4.11 Australia
12.4.10.1 Australia Medical X-ray Market by Modality
12.4.10.2 Australia Medical X-ray Market by Technology
12.4.10.3 Australia Medical X-ray Market by Mobility
12.4.10.4 Australia Medical X-ray Market by End-user
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Medical X-ray Market by Modality
12.4.11.2 APAC Medical X-ray Market by Technology
12.4.11.3 APAC Medical X-ray Market by Mobility
12.4.11.4 APAC Medical X-ray Market by End-user
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Medical X-ray Market by Country
12.5.2 The Middle East & Africa Medical X-ray Market by Modality
12.5.3 The Middle East & Africa Medical X-ray Market by Technology
12.5.4The Middle East & Africa Medical X-ray Market by Mobility
12.5.5 The Middle East & Africa Medical X-ray Market by End-user
12.5.6 Israel
12.5.6.1 Israel Medical X-ray Market by Modality
12.5.6.2 Israel Medical X-ray Market by Technology
12.5.6.3 Israel Medical X-ray Market by Mobility
12.5.6.4 Israel Medical X-ray Market by End-user
12.5.7 UAE
12.5.7.1 UAE Medical X-ray Market by Modality
12.5.7.2 UAE Medical X-ray Market by Technology
12.5.7.3 UAE Medical X-ray Market by Mobility
12.5.7.4 UAE Medical X-ray Market by End-user
12.5.8South Africa
12.5.8.1 South Africa Medical X-ray Market by Modality
12.5.8.2 South Africa Medical X-ray Market by Technology
12.5.8.3 South Africa Medical X-ray Market by Mobility
12.5.8.4 South Africa Medical X-ray Market by End-user
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of Middle East & Asia Medical X-ray Market by Modality
12.5.9.2 Rest of Middle East & Asia Medical X-ray Market by Technology
12.5.9.3 Rest of Middle East & Asia Medical X-ray Market by Mobility
12.5.9.4 Rest of Middle East & Asia Medical X-ray Market by End-user
12.6 Latin America
12.6.1 Latin America Medical X-ray Market by Country
12.6.2 Latin America Medical X-ray Market by Modality
12.6.3 Latin America Medical X-ray Market by Technology
12.6.4 Latin America Medical X-ray Market by Mobility
12.6.5 Latin America Medical X-ray Market by End-user
12.6.6 Brazil
12.6.6.1 Brazil Medical X-ray Market by Modality
12.6.6.2 Brazil Africa Medical X-ray Market by Technology
12.6.6.3 Brazil Medical X-ray Market by Mobility
12.6.6.4 Brazil Medical X-ray Market by End-user
12.6.7 Argentina
12.6.7.1 Argentina Medical X-ray Market by Modality
12.6.7.2 Argentina Medical X-ray Market by Technology
12.6.7.3 Argentina Medical X-ray Market by Mobility
12.6.7.4 Argentina Medical X-ray Market by End-user
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Medical X-ray Market by Modality
12.6.8.2 Rest of Latin America Medical X-ray Market by Technology
12.6.8.3 Rest of Latin America Medical X-ray Market by Mobility
12.6.8.4 Rest of Latin America Medical X-ray Market by End-user

13. Company profile
13.1 Koninklijke Philips N.V.
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Siemens Healthineers AG.
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 GE Healthcare
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Canon Medical Systems.
13.4.1 Market Overview
13.4.1 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Shimadzu Corporation.
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 FUJIFILM SonoSite, Inc.
13.6.1 Market Overview
13.6.2 Financials
13.6.3 End-user/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Carestream
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Mindray Medical International Limited,
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Hologic, Inc.
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 New Medical Imaging.
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share analysis
14.3 Recent Types

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.

Secondary Research

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.

Primary Research

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

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Data Bank Validation

Step 4: QA/QC Process

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