Europe Clinical Trials Supplies Market to Grow at a CAGR of 7.0% to reach US$ 938.54 million from 2020 to 2027

Europe Clinical Trials Supplies Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product & Service (Manufacturing, Packaging & Labelling, and Logistics & Distribution), Stage (Phase I, Phase II, Phase III, and Bioequivalence Studies), Drug Type (Small-Molecule Drugs and Biologic Drugs), and Application (Oncology, Cardiovascular Diseases, Neurological Disorders, Respiratory Disorders, and Others)

  • Report Code : TIPRE00022074
  • Category : Pharmaceuticals
  • Status : Published
  • No. of Pages : 153
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The Europe clinical trial supplies market is expected to reach US$ 938.54 million by 2027 from US$ 550.28 million in 2019; it is estimated to grow at a CAGR of 7.0% from 2020 to 2027.



The growth of the market is attributed to increase in number of clinical trials and rise in R&D expenditures by the pharmaceutical & biopharmaceutical companies. However, rising cost of drug development and clinical trials is expected to restrain the growth of the market during the forecast years.

The clinical trial is an investigational study that defines whether a medical approach, therapy, or device is effective, safe, and useful for human applications. These studies help to find which therapeutic approach is best for certain diseases. Clinical trial supplies management is necessary for evading overproduction, oversupply, and inventory expiration. With the increasing costs of drug discovery, clinical trial supplies are obtaining more importance. A rise in outsourcing activities by pharmaceutical companies has been witnessed during recent years. The major factors driving the outsourcing activities by companies include cost cutting, need for innovations, increased speed and agility, and access to specialized knowledge and technologies. Hence, with an increase in the R&D expenditure, the need for clinical trial outsourcing is increasing. Furthermore, the collaborative research between the research & development team of the sponsoring company as well as contract developer is a new trend being employed in the market. In addition, the emerging trend of outsourcing has led to rise in development of drug candidates and clinical trials by pharmaceutical and biotechnology companies, which is also expected to account for the growth of the market over the coming years. Also, factors such as increasing R&D expenditures in the pharmaceutical & biopharmaceutical companies and rising number of clinical trials will bolster the market growth.

Since the surge of COVID-19 cases, the pharmaceutical industry is facing a decrease in production capabilities, resulting in drug shortages. Moreover, diversion of resources from drug development to coronavirus treatment is likely to hamper overall productivity of the drug development for a short period of span. Various pharmaceutical companies made decisions to postpone the ongoing clinical trials due to disrupted supply chains and threat of the virus. However, the procedures and practices have now re-initiated due to economic losses in the commercial sector in North America. Thus, the COVID-19 pandemic had a positive as well as negative impact on the Europe clinical trial supplies market

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EUROPE CLINICAL TRIAL SUPPLIES MARKET SEGMENTATION

By Product & Service

  • Manufacturing
  • Packaging & Labelling
  • Logistics & Distribution

By Stage

  • Phase I
  • Phase II
  • Phase III
  • Bioequivalence Studies

By Drug Type

  • Small-molecule Drugs
  • Biologic Drugs

By Application

  • Oncology
  • Cardiovascular Diseases
  • Neurological Disorders
  • Respiratory Disorders
  • Others

By Country


  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

Company Profiles

  • THERMO FISHER SCIENTIFIC INC.
  • UDG Healthcare plc
  • Catalent Inc.
  • pci Pharma Services
  • Almac Group
  • PAREXEL INTERNATIONAL CORPORATION
  • Biocair
  • Owens & Minor Inc
  • Rubicon Research Pvt. Ltd
  • CLINICAL SUPPLIES MANAGEMENT HOLDINGS, INC.
  • KLIFO
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Product & Service, Stage, Drug Type, and Application

Regional Scope
Regional Scope

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

Country Scope
Country Scope

UK, Germany, France, Italy, Russia

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Europe Clinical Trial Supplies Market – By Product & Service

1.3.2 Europe Clinical Trial Supplies Market – By Stage

1.3.3 Europe Clinical Trial Supplies Market – By Drug Type

1.3.4 Europe Clinical Trial Supplies Market – By Application

1.3.5 Europe Clinical Trial Supplies Market – By Country

2. Clinical Trial Supplies Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Europe Clinical Trial Supplies Market– Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 Europe – PEST Analysis

4.3 Expert Opinion

5. Clinical Trial Supplies Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Pharmaceutical and Biopharmaceutical R&D Expenditures

5.1.2 Higher Cost of Drug Development Process in Developed Countries

5.2 Market Restraints

5.2.1 Rising Cost of Drug Development and Clinical Trials

5.2.2 Challenges for Clinical Trials Due to Negative Impact of Corona Virus

5.3 Future Trends

5.3.1 Growing Biosimilars and Biologics Market

5.4 Impact analysis

6. Clinical Trial Supplies Market – Europe Analysis

6.1 Europe Clinical Trial Supplies Market Revenue Forecast and Analysis

7. Clinical Trial Supplies Market Analysis – By Product and Service

7.1 Overview

7.2 Clinical Trial Supplies Market Revenue Share, by Product and Service (2019 and 2027)

7.3 Logistics & Distribution

7.3.1 Overview

7.3.2 Logistics & Distribution: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Manufacturing

7.4.1 Overview

7.4.2 Manufacturing: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Packaging & Labelling

7.5.1 Overview

7.5.2 Packaging & Labelling: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

8. Clinical Trial Supplies Market – By Stage

8.1 Overview

8.2 Clinical Trial Supplies Market, by Stage, 2019 and 2027 (%)

8.3 Phase III

8.3.1 Overview

8.3.2 Phase III: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

8.4 Phase II

8.4.1 Overview

8.4.2 Phase II: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

8.5 Bioequivalence Studies

8.5.1 Overview

8.5.2 Bioequivalence Studies: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

8.6 Phase I

8.6.1 Overview

8.6.2 Phase I: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

9. Clinical Trial Supplies Market – By Drug Type

9.1 Overview

9.2 Clinical Trial Supplies Market, by Drug Type 2019 and 2027 (%)

9.3 Small-molecule Drugs

9.3.1 Overview

9.3.2 Small-molecule Drugs: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

9.4 Biologic Drugs

9.4.1 Overview

9.4.2 Biologic Drugs: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

10. Clinical Trial Supplies Market – By Application

10.1 Overview

10.2 Clinical Trial Supplies Market, by Application 2019 and 2027 (%)

10.3 Oncology

10.3.1 Overview

10.3.2 Oncology: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

10.4 Cardiovascular Diseases

10.4.1 Overview

10.4.2 Cardiovascular Diseases: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

10.5 Neurological Disorders

10.5.1 Overview

10.5.2 Neurological Disorders: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

10.6 Respiratory Disorders

10.6.1 Overview

10.6.2 Respiratory Disorders: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

10.7 Others

10.7.1 Overview

10.7.2 Others: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

11. Clinical Trial Supplies Market – Europe Analysis

11.1 Europe: Clinical Trial Supplies Market

11.1.1 Overview

11.1.2 Europe: Clinical Trial Supplies Market, by Country, 2018 & 2027 (%)

11.1.3 Germany: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.3.1 Germany: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.3.2 Germany: Clinical Trial Supplies Market, by Product & Service, 2018–2027 (USD Million)

11.1.3.3 Germany: Clinical Trial Supplies Market, by Stage, 2018–2027 (USD Million)

11.1.3.4 Germany: Clinical Trial Supplies Market, by Drug Type, 2018–2027 (USD Million)

11.1.3.5 Germany: Clinical Trial Supplies Market, by Application, 2018–2027 (USD Million)

11.1.4 UK: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.4.1 UK: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.4.2 UK: Clinical Trial Supplies Market, by Product & Service, 2018–2027 (USD Million)

11.1.4.3 UK: Clinical Trial Supplies Market, by Stage, 2018–2027 (USD Million)

11.1.4.4 UK: Clinical Trial Supplies Market, by Drug Type, 2018–2027 (USD Million)

11.1.4.5 UK: Clinical Trial Supplies Market, by Application, 2018–2027 (USD Million)

11.1.5 France: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.5.1 France: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.5.2 France: Clinical Trial Supplies Market, by Product & Service, 2018–2027 (USD Million)

11.1.5.3 France: Clinical Trial Supplies Market, by Stage, 2018–2027 (USD Million)

11.1.5.4 France: Clinical Trial Supplies Market, by Drug Type, 2018–2027 (USD Million)

11.1.5.5 France: Clinical Trial Supplies Market, by Application, 2018–2027 (USD Million)

11.1.6 Spain: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.6.1 Spain: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.6.2 Spain: Clinical Trial Supplies Market, by Product & Service, 2018–2027 (USD Million)

11.1.6.3 Spain: Clinical Trial Supplies Market, by Stage, 2018–2027 (USD Million)

11.1.6.4 Spain: Clinical Trial Supplies Market, by Drug Type, 2018–2027 (USD Million)

11.1.6.5 Spain: Clinical Trial Supplies Market, by Application, 2018–2027 (USD Million)

11.1.7 Italy: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.7.1 Italy: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

11.1.7.2 Italy: Clinical Trial Supplies Market, by Product & Service, 2018–2027 (USD Million)

11.1.7.3 Italy: Clinical Trial Supplies Market, by Stage, 2018–2027 (USD Million)

11.1.7.4 Italy: Clinical Trial Supplies Market, by Drug Type, 2018–2027 (USD Million)

11.1.7.5 Italy: Clinical Trial Supplies Market, by Application, 2018–2027 (USD Million)

12. Impact of COVID-19 Pandemic on Europe Clinical Trial Supplies Market

12.1 Europe: Impact assessment of COVID-19 Pandemic

13. Clinical Trials Supplies Market – Industry Landscape

13.1 Overview

13.2 Organic Developments

13.2.1 Overview

13.3 Inorganic Developments

13.3.1 Overview

14. Clinical Trial Supplies Market – Key Company Profiles

14.1 THERMO FISHER SCIENTIFIC INC.

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

14.2 UDG Healthcare plc

14.2.1 Key Facts

14.2.2 Business Description

14.2.3 Products and Services

14.2.4 Financial Overview

14.2.5 SWOT Analysis

14.2.6 Key Developments

14.3 Catalent Inc.

14.3.1 Key Facts

14.3.2 Business Description

14.3.3 Products and Services

14.3.4 Financial Overview

14.3.5 SWOT Analysis

14.3.6 Key Developments

14.4 pci Pharma Services

14.4.1 Key Facts

14.4.2 Business Description

14.4.3 Products and Services

14.4.4 Financial Overview

14.4.5 SWOT Analysis

14.4.6 Key Developments

14.5 Almac Group

14.5.1 Key Facts

14.5.2 Business Description

14.5.3 Products and Services

14.5.4 Financial Overview

14.5.5 SWOT Analysis

14.5.6 Key Developments

14.6 PAREXEL INTERNATIONAL CORPORATION

14.6.1 Key Facts

14.6.2 Business Description

14.6.3 Products and Services

14.6.4 Financial Overview

14.6.5 SWOT Analysis

14.6.6 Key Developments

14.7 Biocair

14.7.1 Key Facts

14.7.2 Business Description

14.7.3 Products and Services

14.7.4 Financial Overview

14.7.5 SWOT Analysis

14.7.6 Key Developments

14.8 Owens & Minor Inc.

14.8.1 Key Facts

14.8.2 Business Description

14.8.3 Products and Services

14.8.4 Financial Overview

14.8.5 SWOT Analysis

14.8.6 Key Developments

14.9 KLIFO

14.9.1 Key Facts

14.9.2 Business Description

14.9.3 Products and Services

14.9.4 Financial Overview

14.9.5 SWOT Analysis

14.9.6 Key Developments

14.10 CLINICAL SUPPLIES MANAGEMENT HOLDINGS, INC.

14.10.1 Key Facts

14.10.2 Business Description

14.10.3 Products and Services

14.10.4 Financial Overview

14.10.5 SWOT Analysis

14.10.6 Key Developments

15. Appendix

15.1 About The Insight Partners

15.2 Glossary of Terms

LIST OF TABLES

Table 1. Germany Clinical Trial Supplies Market, by Product & Service – Revenue and Forecast to 2027 (USD Million)

Table 2. Germany Clinical Trial Supplies Market, by Stage – Revenue and Forecast to 2027 (USD Million)

Table 3. Germany Clinical Trial Supplies Market, by Drug Type – Revenue and Forecast to 2027 (USD Million)

Table 4. Germany Clinical Trial Supplies Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 5. UK Clinical Trial Supplies Market, by Product & Service – Revenue and Forecast to 2027 (USD Million)

Table 6. UK Clinical Trial Supplies Market, by Stage – Revenue and Forecast to 2027 (USD Million)

Table 7. UK Clinical Trial Supplies Market, by Drug Type – Revenue and Forecast to 2027 (USD Million)

Table 8. UK Clinical Trial Supplies Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 9. France Clinical Trial Supplies Market, by Product & Service – Revenue and Forecast to 2027 (USD Million)

Table 10. France Clinical Trial Supplies Market, by Stage – Revenue and Forecast to 2027 (USD Million)

Table 11. France Clinical Trial Supplies Market, by Drug Type – Revenue and Forecast to 2027 (USD Million)

Table 12. France Clinical Trial Supplies Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 13. Spain Clinical Trial Supplies Market, by Product & Service – Revenue and Forecast to 2027 (USD Million)

Table 14. Spain Clinical Trial Supplies Market, by Stage – Revenue and Forecast to 2027 (USD Million)

Table 15. Spain Clinical Trial Supplies Market, by Drug Type – Revenue and Forecast to 2027 (USD Million)

Table 16. Spain Clinical Trial Supplies Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 17. Italy Clinical Trial Supplies Market, by Product & Service – Revenue and Forecast to 2027 (USD Million)

Table 18. Italy Clinical Trial Supplies Market, by Stage – Revenue and Forecast to 2027 (USD Million)

Table 19. Italy Clinical Trial Supplies Market, by Drug Type – Revenue and Forecast to 2027 (USD Million)

Table 20. Italy Clinical Trial Supplies Market, by Application – Revenue and Forecast to 2027 (USD Million)

Table 21. Organic Developments Done by Companies

Table 22. Inorganic Developments Done by Companies

Table 23. Glossary of Terms, Clinical Trial Supplies Market

LIST OF FIGURES

Figure 1. Clinical Trial Supplies Market Segmentation

Figure 2. Clinical Trial Supplies Segmentation, By Country

Figure 3. Europe Clinical Trial Supplies Market Overview

Figure 4. Logistics & Distribution Segment Held Largest Share of Product & Service Segment in Clinical Trial Supplies Market

Figure 5. Phase III Segment Held Largest Share of Stage Segment in Clinical Trial Supplies Market

Figure 6. Small-molecule Drugs Segment Held Largest Share of Drug type Segment in Clinical Trial Supplies Market

Figure 7. Oncology Segment Held Largest Share of Application Segment in Clinical Trial Supplies Market

Figure 8. Europe Clinical Trial Supplies Market- Leading Country Markets (US$ Million)

Figure 9. Europe PEST Analysis

Figure 10. Clinical Trial Supplies Market Impact Analysis of Drivers and Restraints

Figure 11. Europe Clinical Trial Supplies Market – Revenue Forecast and Analysis – 2019- 2027

Figure 12. Clinical Trial Supplies Market Revenue Share, by Product and Service (2019 and 2027)

Figure 13. Logistics & Distribution: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. Manufacturing: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15. Packaging & Labelling: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16. Clinical Trial Supplies Market, by Stage 2019 and 2027 (%)

Figure 17. Phase III: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. Phase II: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. Bioequivalence Studies: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 20. Phase I: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21. Clinical Trial Supplies Market, by Drug Type, 2019 and 2027 (%)

Figure 22. Small-molecule Drugs: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23. Biologics Drugs: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24. Clinical Trial Supplies Market, by Application, 2019 and 2027 (%)

Figure 25. Oncology: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 26. Cardiovascular Diseases: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 27. Neurological Disorders: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 28. Respiratory Disorders: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 29. Others: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (US$ Million)

Figure 30. Europe: Clinical Trial Supplies Market, by Key Country – Revenue (2019) (USD Million)

Figure 31. Europe: Clinical Trial Supplies Market, by Country, 2018 & 2027 (%)

Figure 32. Germany: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

Figure 33. UK: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

Figure 34. France: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

Figure 35. Spain: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

Figure 36. Italy: Clinical Trial Supplies Market – Revenue and Forecast to 2027 (USD Million)

Figure 37. Impact of COVID-19 Pandemic in European Country Markets

  1. THERMO FISHER SCIENTIFIC INC.
  2. UDG Healthcare plc
  3. Catalent Inc.
  4. pci Pharma Services
  5. Almac Group
  6. PAREXEL INTERNATIONAL CORPORATION
  7. Biocair
  8. Owens & Minor Inc
  9. Rubicon Research Pvt. Ltd
  10. CLINICAL SUPPLIES MANAGEMENT HOLDINGS, INC.
  11. KLIFO

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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