A three-pronged approach was followed for deducing the disposable syringes market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for disposable syringes market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of disposable syringes market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The disposable syringes market was categorized into three segments, namely syringe type (Conventional Syringes, Safety Syringes), end-use (Hospital, Outpatient Facilities, Research & Manufacturing), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The disposable syringes market was segmented into syringe type, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The disposable syringes market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The disposable syringes market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
MEDTRONIC - Medtronic is a multinational health solutions firm that develops, produces, markets, and distributes medical therapies based on devices in addition to services. It functions in four segments: the diabetic group, minimally invasive treatments, restorative therapies, and the heart and vascular group. The Medtronic Vascular Group provides devices and therapies to address vascular illnesses. Vascular, peripheral, and coronary stents are among these items. Its neurological section provides medication pumps, neurostimulation, and infusion therapy for chronic pain. Their brain therapy business offers surgical tools to enhance the efficiency of neuro operations along with an integrated array of devices for treating neurological problems. The business has operations in over 370 sites in over 160 countries, giving it a global footprint. The primary markets for its goods are long-term care institutions, hospitals, and surgical centres.
NIPRO CORPORATION - Global healthcare leader Nipro Corporation is skilled in creating, producing, and distributing pharmaceuticals and medical equipment all over the world. The business is divided into three main business segments: pharmaceutical, medical, and pharma packaging. Injections and infusions, dialysis-related medical equipment, generic medications, and artificial organ-related items are just a few of the products available in the medical-related market. Pharmaceutical contract manufacturing services, drug delivery systems, pre-filled and disposable syringes, double bags, and other items are produced and sold within its pharmaceutical-related business division. As a division of Nipro Corporation, Nipro Medical Corporation creates devices for medical-surgical, renal, and interventional radiology to enhance patient care.
FRESENIUS KABI - Fresenius Kabi is a healthcare company that is engaged in developing, manufacturing, and commercializing lifesaving drugs and devices for clinical nutrition, infusion, and transfusion. The healthcare corporation Fresenius Kabi is involved in the development, production, and marketing of life-saving medications and equipment for transfusion, infusion, and clinical nutrition. The healthcare corporation Fresenius SE & Co. KGaA is the parent company of Fresenius Kabi, which operates as an operational subsidiary. Fresenius Kabi, Fresenius Medical Care, Fresenius Vamed, and Fresenius Helios are its four business sectors. Four business sub-segments under the Fresenius Kabi segment of the corporation provide products: IV medicines, clinical nutrition, medical devices/transfusion technology, and infusion treatment. They specialize in therapy and care for people who are severely and chronically sick, and they provide a wide range of goods. A variety of products are offered by the company, including anti-infective, intravenous general anesthetics and drugs, analgesics, infusion solutions for infusion therapy, enteral and parenteral nutrition products (including nutrition pumps) and consumables for the collection and processing of blood components.
BAXTER - Baxter is a company that produces and supplies goods and technology for use in treating a variety of acute and chronic medical illnesses, including haemophilia, immunological disorders, infectious infections, and trauma. They sell goods in several markets, including advanced surgery, acute treatments, drug administration, clinical nutrition, pharmaceuticals, and renal care. The business produces IV bags and associated items for hospitals, which are used for parenteral nourishment, surgical treatment, IV infusion pumps, and administration kits, among other uses for pharmaceuticals and fluids. Healthcare professionals and people with kidney problems are served by its renal sector. Hemodialysis, peritoneal dialysis, and other dialysis treatments and services are among the products supplied by this industry. In addition, Baxter is an expert in anaesthetics, medical equipment, pharmacy automation, biosurgery, and wound care products. The business is active around the world, operating in the MEA, Asia Pacific, Europe, and the United States.
B. BRAUN MELSUNGEN AG - B. Braun Melsungen AG is a manufacturer and supplier of medical care solutions and products. There are 5,000 goods in the company's product catalogue, 95% of which are produced internally. The company's primary reportable segments are B. Braun Avitum, Aesculap, Hospital Care, and Outpatient Market. Ostomy care, continence care & urology, cardiothoracic surgery, diabetes care, degenerative spinal disorders, general open surgery, extracorporeal blood treatment, infusion therapy, infection prevention, interventional vascular diagnostics & therapy, neurosurgery, laparoscopic surgery, nutrition therapy, pain therapy, orthopaedic joint replacement, and wound management are among the therapies and indications that the company uses to run its business. The firm provides a wide selection of needles and syringes for single use.
BD - BD is primarily focused on the creation, production, and marketing of various medical supplies, diagnostic devices, and lab equipment. BD Medical, BD Interventional, and BD Life Sciences are the three reportable segments of the corporation. Clinical laboratories, researchers, healthcare facilities, and pharmaceutical businesses utilize its goods. the business units for diabetic care, renal care, medicine, procedural solutions, infection control, and pharmaceutical systems make up the BD medical segment. To identify a variety of infectious illnesses linked to healthcare, the life sciences division provides tools and reagents, as well as goods and services for the collection and transportation of diagnostic samples. BD Norge AS, Accuri Cytometers, Inc., CareFusion, Vital Signs Hong Kong Limited, and Dantor S.A. are among the company's operational subsidiaries.
NOVO NORDISK A/S - Novo Nordisk A/S is involved in the discovery, development, production, and marketing of diabetes-related and pharmaceutical products. The biopharmaceutical and diabetes & obesity care reporting business sectors represent how the corporation is run. Its diabetes and obesity care sector sells insulin along with protein-related items including glucagon, protein delivery devices and needles, and oral anti-diabetic medications. It provides growth hormone replacement therapy and haemophilia treatment through its biopharm division. Additionally, Novo Nordisk offers the obesity treatment "Saxenda" medication. The corporation is present all over the world and ships its goods to more than 180 nations.
RETRACTABLE TECHNOLOGIES, INC. - The global development, production, and marketing of safety needle devices is the focus of Retractable Technologies, Inc. The firm sells its disposable syringes under the VanishPoint brand, which is specially made to eliminate reuse and prevent needlestick accidents. VanishPoint syringes and patient-safe syringes are among its products; they protect against needlestick injuries, reduce cross-contamination through reuse, and lower disposal and other related expenses.
ULTIMED, INC. - The research, production, and distribution of medical injectable devices for the consumer, veterinary, and medical industries are the primary business objectives of privately held UltiMed, Inc. The business provides patients with top-notch injection equipment that allows for secure disposal of used needles. The business is well-known worldwide, and its goods are sold there as well.
HENKE-SASS, WOLF - The business of Henke-Sass, Wolf is the creation, production, and marketing of veterinary supplies and medical equipment. They sell injectable systems, reusable needles, endoscopes, replacement components, and customized items in addition to disposal syringes and needles. Services for research and development are also provided by Henke-Sass Wolf. Their goods are sold all over the world, and the business employs over 1,500 people worldwide.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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