Middle East and Africa Cell Therapy Instruments Market to Grow at a CAGR of 11.0% to reach US$ 899.62 Million from 2020 to 2027

Middle East and Africa Cell Therapy Instruments Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product (Consumables, Equipment, Systems and Software); Cell Type (Human Cells, and Animal Cells); Process (Cell Processing, Process Monitoring and Quality Control, Cell Preservation, Distribution, and Handling); End User (Research Institutes, Life Science Research Companies, and Other End Users), and Country

  • Report Code : TIPRE00015154
  • Category : Biotechnology
  • Status : Published
  • No. of Pages : 105
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The Middle East and Africa cell therapy instruments market was valued at US$ 398.23 Million in 2019 and is projected to reach US$ 899.62 Million by 2027; it is expected to grow at a CAGR of 11.0% during the forecast period.



The rise in cell therapy transplantation's, growing numbers of research and development activities and rising investments for building cell and gene therapy manufacturing plants will drive the growth of the Middle East and Africa cell therapy instruments market during the forecast period. However, the high cost of low success rate and cell-based research are expected to restrain Middle East and Africa Cell Therapy Instruments market growth during the forecast period.

Cell therapy includes the administration of somatic cell preparations by injecting or grafting into the patient’s body for the treatment of diseases or traumatic damages. Various instruments are used to carry out cell therapy to cure diabetes, neurological disorders, related injuries, some types of cancer, bones, and joints, and genetic disorders.

The increasing research and development in cell therapy have led to extraordinary therapeutic results in cell therapy instruments to improve the immune system and efficiently treat genetic disorders. Various market players provide several consumables such as reagents kits and enzymes, and many companies offer instruments, equipment, and software to conduct a wide range of cell therapy processes.

The use of equipment is essential for producing cell therapies such as NSC, PSC, MSC, T cells, and HSC. These cell therapy products are derived from animals or human cells and thus require safe conditions from contamination. Hence, the instruments used for cell therapies help in preventing contamination and allows scaling up the transplantation. For instance, companies such as Hitachi Chemical Advanced Therapeutics Solutions, Corning Incorporated, Thermo Fisher Scientific Inc., Miltenyi Biotec, LLC, Invetech, and Cytiva (General Electric Company) have introduced various equipment and consumables for the cell therapy.

The Middle East and Africa countries are highly dependent on medical devices and pharmaceutical products and have faced several challenges for their requirements. Various US-based companies have their manufacturing units in the Middle East and African countries; hence initial phase of lockdown in multiple countries has affected the supply of instruments in this region. Therefore, many organizations are collaborating with others to overcome this pandemic by using cell therapies for the treatment of COVID 19.

Middle East and Africa Cell Therapy Instruments Market Revenue and Forecast to 2027 (US$ Mn)

Middle East and Africa Cell Therapy Instruments Market Revenue and Forecast to 2027 (US$ Mn)
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Middle East and Africa Cell Therapy Instruments Market

By Product

  • Consumables
  • Equipment
  • Single-Use Equipment
  • Cell Processing Equipment
  • Other Equipment
  • Systems and Software

By Cell Type

  • Human Cells
  • Differentiated Cells
  • Stem Cells
  • Animal Cells

By Process

  • Cell Processing
  • Process Monitoring and Quality Control
  • Cell Preservation, Distribution, and Handling

By End User

  • Research Institutes
  • Life Science Research Companies
  • Other End Users

By Geography

  • Saudi Arabia
  • South Africa
  • UAE
  • RoMEA

List of Companies

  • STEMCELL Technologies Inc.
  • Miltenyi Biotec
  • General Electric Company
  • THERMO FISHER SCIENTIFIC INC.
  • MERCK KGaA
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Product, Cell Type, Process, End User, and Country

Regional Scope
Regional Scope

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

Country Scope
Country Scope

Saudi Arabia

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Middle East and Africa Cell Therapy Instruments Market – By Product

1.3.2 Middle East and Africa Cell Therapy Instruments Market – By Cell Type

1.3.3 Middle East and Africa Cell Therapy Instruments Market – By Process

1.3.4 Middle East and Africa Cell Therapy Instruments Market – By End User

1.3.5 Middle East and Africa Cell Therapy Instruments Market – By Geography

2. Cell Therapy Instruments Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Middle East and Africa Cell Therapy Instruments– Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 Middle East and Africa (MEA) – PEST Analysis

4.3 Expert Opinions

5. Cell Therapy Instruments Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Developments in Cell Therapy Manufacturing

5.1.2 Rising Number of Approvals for Cell-based Therapies

5.2 Market Restraints

5.2.1 High Cost of Cell Therapy Production and Cell Therapy

5.3 Market Opportunities

5.3.1 Growth Opportunities in Developing Regions

5.4 Future Trends

5.4.1 Shift Toward Automated Manufacturing

5.5 Impact Analysis

6. Cell Therapy Instruments Market – Middle East and Africa Analysis

6.1 Middle East and Africa Cell Therapy Instrument Marker Revenue Forecast And Analysis

7. Cell Therapy Instruments Market Analysis – By Product

7.1 Overview

7.2 Cell Therapy Instruments Market Revenue Share, by Product (2019 and 2027)

7.3 Consumables

7.3.1 Overview

7.3.2 Consumables: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.4 Equipment

7.4.1 Overview

7.4.2 Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.4.3 Single–use Equipment

7.4.3.1 Overview

7.4.3.2 Single–use Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.4.4 Cell Processing Equipment

7.4.4.1 Overview

7.4.4.2 Cell Processing Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.4.5 Other Equipment

7.4.5.1 Overview

7.4.5.2 Other Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.5 Systems and Software

7.5.1 Overview

7.5.2 Systems and Software Segment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

7.6

8. Cell Therapy Instruments Market Analysis – By Cell Type

8.1 Overview

8.2 Cell Therapy Instruments Market Revenue Share, by Cell Type (2019 and 2027)

8.3 Human Cells

8.3.1 Human Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

8.3.2 Differentiated Cells

8.3.2.1 Overview

8.3.2.2 Differentiated Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

8.3.3 Stem Cells

8.3.3.1 Overview

8.3.3.2 Stem Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

8.4 Animal Cells

8.4.1 Overview

8.4.2 Animal Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

9. Cell Therapy Instruments Market Analysis – By Process

9.1 Overview

9.2 Cell Therapy Instruments Market Revenue Share, by Process (2019 and 2027)

9.3 Cell Processing

9.3.1 Cell Processing: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

9.4 Process Monitoring and Quality Control

9.4.1 Process Monitoring and Quality Control: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

9.5 Cell Preservation, Distribution, and Handling

9.5.1 Cell Preservation, Distribution, and Handling: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

10. Cell Therapy Instruments Market Analysis – By End User

10.1 Overview

10.2 Cell Therapy Instruments Market Share, by End Users, 2019 and 2027, (%)

10.3 Research Institutes

10.3.1 Overview

10.3.2 Research Institutes: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

10.4 Life Science Research Companies

10.4.1 Overview

10.4.2 Life Science Research Companies: Cell therapy instruments market – Revenue and Forecast to 2027 (US$ Million)

10.5 Other End Users

10.5.1 Overview

10.5.2 Other End Users: Cell therapy instruments market – Revenue and Forecast to 2027 (US$ Million)

11. Cell Therapy Instruments Market Analysis and Forecast To 2027 – Middle East and Africa Analysis

11.1 Middle East and Africa: Cell Therapy Instruments Market

11.1.1 Overview

11.1.2 Middle East and Africa: Cell Therapy Instruments Market - Revenue and Forecast to 2027 (USD Million)

11.1.3 Middle East and Africa: Cell Therapy Instruments Market, by Product, 2018–2027 (USD Millions)

11.1.3.1 Middle East and Africa: Equipment Market, by Type, 2018–2027 (USD Millions)

11.1.4 Middle East and Africa: Cell Therapy Instruments Market, by Cell Type, 2018–2027 (USD Million)

11.1.4.1 Middle East and Africa: Human Cells Market, by Type, 2018–2027 (USD Million)

11.1.5 Middle East and Africa: Cell Therapy Instruments Market, by Process, 2018–2027 (USD Million)

11.1.6 Middle East and Africa: Cell Therapy Instruments Market, by End User, 2018–2027 (USD Million)

11.1.7 Middle East and Africa: Cell Therapy Instruments Market, by Country, 2019& 2027 (%)

11.1.8 UAE: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.8.1 UAE: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.8.2 UAE: Cell Therapy Instruments Market, by Product, 2018–2027 (USD Millions)

11.1.8.2.1 UAE: Equipment Market, by Type, 2018–2027 (USD Millions)

11.1.8.3 UAE: Cell Therapy Instruments Market, by Cell Type, 2018–2027 (USD Million)

11.1.8.3.1 UAE: Human Cells Market, by Type, 2018–2027 (USD Million)

11.1.8.4 UAE: Cell Therapy Instruments Market, by Process, 2018–2027 (USD Million)

11.1.8.5 UAE: Cell Therapy Instruments Market, by End User, 2018–2027 (USD Million)

11.1.9 Saudi Arabia: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.9.1 Saudi Arabia: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.9.2 Saudi Arabia: Cell Therapy Instruments Market, by Product, 2018–2027 (USD Millions)

11.1.9.2.1 Saudi Arabia: Equipment Market, by Type, 2018–2027 (USD Millions)

11.1.9.3 Saudi Arabia: Cell Therapy Instruments Market, by Cell Type, 2018–2027 (USD Million)

11.1.9.3.1 Saudi Arabia: Human Cells Market, by Type, 2018–2027 (USD Million)

11.1.9.4 Saudi Arabia: Cell Therapy Instruments Market, by Process, 2018–2027 (USD Million)

11.1.9.5 Saudi Arabia: Cell Therapy Instruments Market, by End User, 2018–2027 (USD Million)

11.1.10 South Africa: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.10.1 South Africa: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

11.1.10.2 South Africa: Cell Therapy Instruments Market, by Product, 2018–2027 (USD Millions)

11.1.10.2.1 South Africa: Equipment Market, by Type, 2018–2027 (USD Millions)

11.1.10.3 South Africa: Cell Therapy Instruments Market, by Cell Type, 2018–2027 (USD Million)

11.1.10.3.1 South Africa: Human Cells Market, by Type, 2018–2027 (USD Million)

11.1.10.4 South Africa: Cell Therapy Instruments Market, by Process, 2018–2027 (USD Million)

11.1.10.5 South Africa: Cell Therapy Instruments Market, by End User, 2018–2027 (USD Million)

12. Impact of COVID-19 Pandemic on Middle East and Africa Cell Therapy Instruments Market

12.1 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

13. Company Profiles

13.1 THERMO FISHER SCIENTIFIC INC.

13.1.1 Key Facts

13.1.2 Business Description

13.1.3 Products and Services

13.1.4 Financial Overview

13.1.5 SWOT Analysis

13.1.6 Key Developments

13.2 MERCK KGaA

13.2.1 Key Facts

13.2.2 Business Description

13.2.3 Products and Services

13.2.4 Financial Overview

13.2.5 SWOT Analysis

13.2.6 Key Developments

13.3 Lonza

13.3.1 Key Facts

13.3.2 Business Description

13.3.3 Products and Services

13.3.4 Financial Overview

13.3.5 SWOT Analysis

13.3.6 Key Developments

13.4 General Electric Company

13.4.1 Key Facts

13.4.2 Business Description

13.4.3 Products and Services

13.4.4 Financial Overview

13.4.5 SWOT Analysis

13.4.6 Key Developments

13.5 Terumo Corporation

13.5.1 Key Facts

13.5.2 Business Description

13.5.3 Products and Services

13.5.4 Financial Overview

13.5.5 SWOT Analysis

13.5.6 Key Developments

13.6 BD

13.6.1 Key Facts

13.6.2 Business Description

13.6.3 Products and Services

13.6.4 Financial Overview

13.6.5 SWOT Analysis

13.6.6 Key Developments

13.7 STEMCELL Technologies Inc.

13.7.1 Key Facts

13.7.2 Business Description

13.7.3 Products and Services

13.7.4 Financial Overview

13.7.5 SWOT Analysis

13.7.6 Key Developments

13.8 Sartorius AG

13.8.1 Key Facts

13.8.2 Business Description

13.8.3 Products and Services

13.8.4 Financial Overview

13.8.5 SWOT Analysis

13.8.6 Key Developments

13.9 Danaher (Beckman Coulter, Inc.)

13.9.1 Key Facts

13.9.2 Business Description

13.9.3 Products and Services

13.9.4 Financial Overview

13.9.5 SWOT Analysis

13.9.6 Key Developments

14. Appendix

14.1 Glossary of Terms


LIST OF TABLES

Table 1. Middle East and Africa Cell Therapy Instruments Market, by Product– Revenue and Forecast to 2027 (USD Millions)

Table 2. Middle East and Africa Equipment Market, by Type – Revenue and Forecast to 2027 (USD Millions)

Table 3. Middle East and Africa Cell Therapy Instruments Market, by Cell Type – Revenue and Forecast to 2027 (USD Million)

Table 4. Middle East and Africa Human Cells Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 5. Middle East and Africa Cell Therapy Instruments Market, by Process – Revenue and Forecast to 2027 (USD Million)

Table 6. Middle East and Africa Cell Therapy Instruments Market, by End User– Revenue and Forecast to 2027 (USD Million)

Table 7. UAE Cell Therapy Instruments Market, by Product– Revenue and Forecast to 2027 (USD Millions)

Table 8. UAE Equipment Market, by Type – Revenue and Forecast to 2027 (USD Millions)

Table 9. UAE Cell Therapy Instruments Market, by Cell Type – Revenue and Forecast to 2027 (USD Million)

Table 10. UAE Human Cells Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 11. UAE Cell Therapy Instruments Market, by Process – Revenue and Forecast to 2027 (USD Million)

Table 12. UAE Cell Therapy Instruments Market, by End User– Revenue and Forecast to 2027 (USD Million)

Table 13. Saudi Arabia Cell Therapy Instruments Market, by Product– Revenue and Forecast to 2027 (USD Millions)

Table 14. Saudi Arabia Equipment Market, by Type – Revenue and Forecast to 2027 (USD Millions)

Table 15. Saudi Arabia Cell Therapy Instruments Market, by Cell Type – Revenue and Forecast to 2027 (USD Million)

Table 16. Saudi Arabia Human Cells Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 17. Saudi Arabia Cell Therapy Instruments Market, by Process – Revenue and Forecast to 2027 (USD Million)

Table 18. Saudi Arabia Cell Therapy Instruments Market, by End User– Revenue and Forecast to 2027 (USD Million)

Table 19. South Africa Cell Therapy Instruments Market, by Product– Revenue and Forecast to 2027 (USD Millions)

Table 20. South Africa Equipment Market, by Type – Revenue and Forecast to 2027 (USD Millions)

Table 21. South Africa Cell Therapy Instruments Market, by Cell Type – Revenue and Forecast to 2027 (USD Million)

Table 22. South Africa Human Cells Market, by Type– Revenue and Forecast to 2027 (USD Million)

Table 23. South Africa Cell Therapy Instruments Market, by Process – Revenue and Forecast to 2027 (USD Million)

Table 24. South Africa Cell Therapy Instruments Market, by End User– Revenue and Forecast to 2027 (USD Million)

Table 25. Glossary of Terms, Cell Therapy Instruments Market

LIST OF FIGURES

Figure 1. Cell Therapy Instruments Market Segmentation

Figure 2. Cell Therapy Instruments Market – By Geography

Figure 3. Cell Therapy Instruments Market Overview

Figure 4. Consumables Segment Held Largest Share of Cell Therapy Instruments Market

Figure 5. Middle East and Africa Cell Therapy Instruments Market – Leading Country Markets (US$ Million)

Figure 6. Middle East and Africa (MEA) PEST Analysis

Figure 7. Cell Therapy Instruments Market Impact Analysis of Driver and Restraints

Figure 8. Middle and East Africa Cell Therapy Instruments Market – Revenue Forecast and Analysis – 2019- 2027

Figure 9. Cell Therapy Instruments Market Revenue Share, by Product (2019 and 2027)

Figure 10. Consumables: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 11. Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 12. Single–use Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 13. Cell Processing Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 14. Other Equipment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 15. Systems and Software Segment: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 16. Cell Therapy Instruments Market Revenue Share, by Cell Type (2019 and 2027)

Figure 17. Human Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 18. Differentiated Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 19. Stem Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 20. Animal Cells: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 21. Cell Therapy Instruments Market Revenue Share, by Process (2019 and 2027)

Figure 22. Cell Processing: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23. Process Monitoring and Quality Control: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24. Cell Preservation, Distribution, and Handling: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25. Cell Therapy Instruments Market Share, by End Users, 2019 and 2027, (%)

Figure 26. Research Institutes: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 27. Life Science Research Companies: Cell therapy instruments market – Revenue and Forecast to 2027 (US$ Million)

Figure 28. Other End Users: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (US$ Million)

Figure 29. Middle East and Africa: Cell Therapy Instruments Market, by Key Country – Revenue (2019) (USD Million)

Figure 30. Middle East and Africa Cell Therapy Instruments Market Revenue and Forecast to 2027 (USD Millions)

Figure 31. UAE: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

Figure 32. Saudi Arabia: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

Figure 33. South Africa: Cell Therapy Instruments Market – Revenue and Forecast to 2027 (USD Million)

Figure 34. Impact of COVID-19 Pandemic in Rest of the World Market

    1. STEMCELL Technologies Inc.
    2. Miltenyi Biotec
    3. General Electric Company
    4. THERMO FISHER SCIENTIFIC INC.
    5. MERCK KGaA

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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