Asia Pacific Medical Devices Additives Manufacturing Market to Grow at a CAGR of 16.8% to reach US$ 854.79 Million from 2020 to 2027

Asia Pacific Medical Devices Additives Manufacturing Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology (Laser Sintering, Electron Beam Melting, Stereolithography, Extrusion); Product (Surgical Guides, Surgical Instruments, Implants and Prosthetics, Tissue Engineering, Other Products), Application (Orthopedic, Bioengineering, Cardiomaxillofacial) and Country

  • Report Code : TIPRE00015132
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 160
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The Asia Pacific medical device additives manufacturing market is expected to reach US$ 854.79 million by 2027 from US$ 249.15 million in 2019; it is anticipated to grow at a CAGR of 16.8% during 2019–2027.

The key factors driving the market growth are high investments and expenditure on healthcare and advancing technologies in manufacturing medical devices, strong presence of key market players and the increasing demand for implants of orthopedic, dental and cochlear applications. However, high costs associated to medical device additives manufacturing process is the major factor hindering the market growth in Asia Pacific.

Additive manufacturing is a technique used for manufacturing rapid prototypes as well as functional end-use parts. The use of additive manufacturing in the medical industry has witnessed an accelerating adoption in the recent years owing to various technological advancements such as custom-made medical devices. With additive manufacturing being implied in the healthcare industry, the scope for customization and innovation of medical devices has increased considerably over the last few years.

The rising incidence of musculoskeletal and dental diseases and increasing demand for additive manufacturing in healthcare are prime factors contributing to the growth of the market for medical device additives manufacturing. Musculoskeletal conditions affect the human locomotors system, comprising the muscles, bones, joints, tendons, and ligaments. These conditions range from the sudden and acute ones, such as fractures, sprains, and strains, to chronic ones associated with disability and ongoing pain. According to the World Health Organization (WHO), the prevalence and impact of musculoskeletal conditions is likely to rise with the aging world population as well as with the increase in prevalence of risk factors for non-communicable diseases (NCDs). According to Asia-Pacific Journal of Public Health the prevalence of musculoskeletal disorders among office workers was 82.3% in 2016.Musculoskeletal disorders are leading cause of disabilities in countries such as China, India and Japan.

3D Systems, Inc., GE Additives, Materialise NV, Renishaw plc. are among the major companies in Medical Device Additives Manufacturing market.

In January 2020, after a series of cases of pneumonia in Wuhan, the Chinese health authorities, the capital city of Hubei province (China), announced that a novel coronavirus, officially known as severe acute respiratory syndrome coronavirus (SARS-CoV)-2. COVID-19 has created an extraordinary emergency that is particularly affecting the supply chain. The supply chain disruptions, along with the enormous needs for medical devices and protective health care material, have generated the need for new initiatives and the use of emerging technologies such as three-dimensional printing (3DP) to come forward and support health care professionals and supply chain. With the help of 3DP, PPE, and other medical supplies such as face shields and valves for respiratory machines can be used. To overcome this pandemic, many organizations are helping healthcare facilities across the world. For instance, in May 2020, Tokyo based SOLIZE group announced providing medical supplies free of charge to medical institutions through the Tokyo Metropolitan Medical Association, giving the face shield frame made of biocompatible material using the HP’s 3D printing solutions.

India Medical Device Additives Manufacturing Market, Revenue and Forecast to 2027 (US$ Mn)

India Medical Device Additives Manufacturing Market, Revenue and Forecast to 2027 (US$ Mn)

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ASIA PACIFIC MEDICAL DEVICE ADDITIVES MANUFACTURING MARKET SEGMENTATION

By Technology

  • Laser Sintering,
  • Electron Beam Melting,
  • Stereolithography,
  • Extrusion

By Products

  • Surgical Guides,
  • Surgical Instruments,
  • Implants and Prosthetics,
  • Tissue Engineering,
  • Other Products

By Application

  • Orthopedic,
  • Bioengineering,
  • Cardiomaxillofacial

By Country

  • China
  • Japan
  • India
  • Australia
  • South Korea

Company Profiles

  • 3D Systems, Inc.
  • GE Additives
  • Materialise NV
  • Renishaw plc.
  • STRATASYS LTD
  • VAUPELL, INC.
  • EOS Gmbh
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Technology, Product, Application and Country

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Australia, China, Japan, South Korea

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Asia Pacific Medical device additive manufacturing Market – By Technology

1.3.2 Asia Pacific Medical device additive manufacturing Market – By Products

1.3.3 Asia Pacific Medical device additive manufacturing Market – By Applications

1.3.4 Asia Pacific Medical device additive manufacturing Market – By Country

2. Asia Pacific Medical device additive manufacturing Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Asia Pacific Medical device additive manufacturing Market – Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 Medical device additive manufacturing Market - Asia Pacific PEST Analysis

4.3 Expert Opinion

5. Asia Pacific Medical device additive manufacturing Market - Key Market Dynamics

5.1 Key Market Drivers

5.1.1 Increasing Demand for Additive Manufacturing in Healthcare

5.1.2 Rising Incidence of Musculoskeletal and Dental Diseases

5.2 Market Restraints

5.2.1 Exorbitant Costs of Automated Medical Device Additive Manufacturing

5.3 Market Opportunities

5.3.1 Developments in Healthcare Sector

5.4 Future Trends

5.4.1 Rising Preference for Customized Medical Devices

5.5 Impact Analysis of Drivers and Restraints

6. Medical Device Additive Manufacturing Market – Asia Pacific Analysis

6.1 Asia Pacific Medical Device Additive Manufacturing Market Revenue Forecast And Analysis

6.2 Asia Pacific Medical Device Additive Manufacturing Market, By Countries - Forecast And Analysis

6.3 Market Positioning of Key Players

7. Asia Pacific Medical Device Additive Manufacturing Market Analysis – By Technology

7.1 Overview

7.2 Asia Pacific Medical Device Additive Manufacturing Market Revenue Share, by Technology (2019 and 2027)

7.3 Laser Sintering

7.3.1 Overview

7.3.2 Laser Sintering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Electron Beam Melting

7.4.1 Overview

7.4.2 Electron Beam Melting: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Stereolithography

7.5.1 Overview

7.5.2 Stereolithography: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

7.6 Extrusion

7.6.1 Extrusion: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

8. Asia Pacific Medical Device Additive Manufacturing Market Analysis – By Product

8.1 Overview

8.2 Medical Device Additive Manufacturing Market Revenue Share, by Product (2019 and 2027)

8.3 Surgical guides

8.3.1 Surgical Guides: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

8.4 Surgical Instruments

8.4.1 Overview

8.4.2 Surgical Instruments: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

8.5 Implants and Prosthetics

8.5.1 Overview

8.5.2 Implants and Prosthetics: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

8.6 Tissue Engineering

8.6.1 Overview

8.6.2 Tissue Engineering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

8.7 Other Products

8.7.1 Overview

8.7.2 Other Products: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

9. Asia Pacific Medical Device Additive Manufacturing Market Analysis – By Application

9.1 Overview

9.2 Asia Pacific Medical Device Additive Manufacturing Market Share, by Applications, 2019 and 2027, (%)

9.3 Dental

9.3.1 Overview

9.3.2 Dental: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

9.4 Orthopedic

9.4.1 Overview

9.4.2 Orthopedic: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

9.5 Bioengineering

9.5.1 Overview

9.5.2 Bioengineering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

9.6 Craniomaxillofacial

9.6.1 Overview

9.6.2 Craniomaxillofacial: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

10. Medical Device Additive Manufacturing Market Analysis And Forecasts To 2027 – Regional Analysis

10.1 Asia-Pacific: Medical Device Additive Manufacturing Market

10.1.1 Overview

10.1.2 Asia-Pacific: Medical Device Additive Manufacturing Market - Revenue and Forecast to 2027 (USD Million)

10.1.3 Asia-Pacific: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.4 Asia-Pacific: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.5 Asia-Pacific: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

10.1.6 Asia-Pacific: Medical Device Additive Manufacturing Market, by Country, 2019 & 2027 (%)

10.1.7 China: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.7.1 China: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.7.2 China: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.7.3 China: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.7.4 China: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

10.1.8 Japan: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.8.1 Japan: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.8.2 Japan: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.8.3 Japan: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.8.4 Japan: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

10.1.9 India: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.9.1 India: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.9.2 India: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.9.3 India: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.9.4 India: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

10.1.10 South Korea: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.10.1 South Korea: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.10.2 South Korea: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.10.3 South Korea: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.10.4 South Korea: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

10.1.11 Australia: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.11.1 Australia: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

10.1.11.2 Australia: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

10.1.11.3 Australia: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

10.1.11.4 Australia: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

11. Impact of COVID-19 Pandemic on Asia Pacific Medical device additive manufacturing Market

11.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic

12. Company Profiles

12.1 3D Systems, Inc.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 GE Additives

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Materialise NV

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.5 Renishaw plc

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 STRATASYS LTD

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 VAUPELL, INC.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 EOS Gmbh

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

13. Appendix

13.1 Glossary of Terms


LIST OF TABLES

Table 1. Asia-Pacific: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 2. Asia-Pacific: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 3. Asia-Pacific: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 4. China: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 5. China: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 6. China: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 7. Japan: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 8. Japan: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 9. Japan: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 10. India: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 11. India: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 12. India: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 13. South Korea: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 14. South Korea: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 15. South Korea: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 16. Australia: Medical Device Additive Manufacturing Market, by Technology – Revenue and Forecast to 2027 (USD Million)

Table 17. Australia: Medical Device Additive Manufacturing Market, by Product – Revenue and Forecast to 2027 (USD Million)

Table 18. Australia: Medical Device Additive Manufacturing Market, By Application – Revenue and Forecast to 2027 (USD Million)

Table 19. Glossary of Terms, Asia Pacific Medical Device Additive Manufacturing Market


LIST OF FIGURES

Figure 1. Medical device additive manufacturing Market Segmentation

Figure 2. Asia Pacific Medical device additive manufacturing Market Segmentation – By Country

Figure 3. Asia Pacific Medical device additive manufacturing Market Overview

Figure 4. Laser Sintering Segment Held Largest Share of Asia Pacific Medical Device Additive Manufacturing Market

Figure 5. Medical device additive manufacturing Market - Asia Pacific PEST Analysis

Figure 6. Asia Pacific Medical Device Additive Manufacturing Market Impact Analysis of Drivers and Restraint

Figure 7. Asia Pacific Medical Device Additive Manufacturing Market – Revenue Forecast And Analysis – 2019- 2027 (US$ Million)

Figure 8. Asia Pacific Medical Device Additive Manufacturing Market – By Countries Forecast and Analysis – 2019- 2027

Figure 9. Market Positioning Of Key Players In Asia Pacific Medical Device Additive Manufacturing Market

Figure 10. Asia Pacific Medical Device Additive Manufacturing Market Revenue Share, by Technology (2019 and 2027)

Figure 11. Laser Sintering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12. Electron Beam Melting: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 13. Stereolithography: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. Extrusion: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15. Medical Device Additive Manufacturing Market Revenue Share, by Product (2019 and 2027)

Figure 16. Surgical Guides: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 17. Surgical Instruments: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. Implants and Prosthetics : Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. Tissue Engineering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 20. Other Product : Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21. Asia Pacific Medical Device Additive Manufacturing Market Share, by Applications, 2019 and 2027 (%)

Figure 22. Dental: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23. Orthopedic: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24. Bioengineering: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25. Craniomaxillofacial: Asia Pacific Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (US$ Million)

Figure 26. Asia-Pacific: Medical Device Additive Manufacturing Market, by Key Country – Revenue (2019) (USD Million)

Figure 27. Asia-Pacific Medical Device Additive Manufacturing Market Revenue and Forecast to 2027 (USD Million)

Figure 28. Asia-Pacific: Medical Device Additive Manufacturing Market, by Country, 2019 & 2027 (%)

Figure 29. China: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

Figure 30. Japan: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

Figure 31. India: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

Figure 32. South Korea: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

Figure 33. Australia: Medical Device Additive Manufacturing Market – Revenue and Forecast to 2027 (USD Million)

Figure 34. Impact of COVID-19 Pandemic in Asia Pacific Country Markets

The List of Companies - Asia Pacific Medical Devices Additives Manufacturing Market

  1. 3D Systems, Inc.
  2. GE Additives
  3. Materialise NV
  4. Renishaw plc.
  5. STRATASYS LTD
  6. VAUPELL, INC.
  7. EOS Gmbh

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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