Active Pharmaceutical Ingredient (API) Market SWOT Analysis by 2031
The Active Pharmaceutical Ingredient (API) Market is expected to register a CAGR of 8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is divided into four segments: Type of Synthesis (Biotech, Synthetic) and Therapeutic Application (Cardiology, Oncology, CNS and Neurology, Orthopaedic, Endocrinology, Pulmonology, Gastroenterology, Nephrology, Ophthalmology, Others). The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Active Pharmaceutical Ingredient (API) Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Active Pharmaceutical Ingredient (API) Market Segmentation
Type of Synthesis- Biotech
- Synthetic
- Cardiology
- Oncology
- CNS and Neurology
- Orthopaedic
- Endocrinology
- Pulmonology
- Gastroenterology
- Nephrology
- Ophthalmology
- Others
Strategic Insights
Active Pharmaceutical Ingredient (API) Market Growth Drivers- Population boom globally: An increased number of people worldwide, especially in developing regions, increases the demand for healthcare products and translates into pharmaceuticals.
- Growth of Chronic Diseases: The growing rate of chronic diseases, including diabetes, cardiovascular conditions, and cancer, means increased demand for new and existing APIs.
- Advancements in Biotechnology: Innovations in biotechnology, such as gene editing and protein engineering, enable the development of novel therapies.
- Personalized Medicines: The focus of the marketplace on personalized medicine and targeted therapies is expected to increase, driving high demand for specialized APIs, by specific patient populations. More efficient and effective delivery of drugs through advanced drug delivery systems, such as nanoparticles and microspheres, will be developed. Consequently, demand for APIs is likely to increase.
- Development of Biosimilars and Biopharmaceuticals: The development of biosimilars and biopharmaceuticals will also create opportunities for API manufacturers because these products involve the use of special APIs. Sustainability and environmental responsibilities will drive the development of more environmentally friendly manufacturing processes and sourcing of sustainable raw materials in the production of APIs.
- Digital Health Integration: Integration of digital technologies, such as AI and IoT, to enhance drug development and patient monitoring.
- Advancement of emerging markets: This is driven by growth in population and rising incomes that lead to increased demand for healthcare products, and the increasing prevalence of chronic diseases like diabetes and cancer, which in turn creates demands for new as well as existing APIs. The expiration of patents of the blockbusters opens room for entry for generic API manufacturers.
- Development of innovative drug delivery systems: This includes controlled-release formulations and nanotechnology, enhances the efficacy and safety of drugs and, therefore leads to higher API demand.
- Cell and Gene Therapies: Pioneering cell and gene therapies to treat genetic disorders and chronic diseases.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Active Pharmaceutical Ingredient (API) Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Active Pharmaceutical Ingredient (API) Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Active Pharmaceutical Ingredient (API) Market is expected to grow at a CAGR of 8% between 2023-2031
The driving factors impacting the Active Pharmaceutical Ingredient (API) Market are: Population boom globally, Growth of Chronic Diseases
The future trends of the Active Pharmaceutical Ingredient (API) Market are: Personalized Medicines, Development of Biosimilars and Biopharmaceuticals
The leading players in the Active Pharmaceutical Ingredient (API) Market are: Teva Pharmaceutical Industries Ltd, AbbVie Inc, Boehringer Ingelheim International GmbH, Cipla Inc, Merck Co Inc, Bristol Myers Squibb Company, Albemarle Corporation, Mylan N V, Aurobindo Pharma
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Active Pharmaceutical Ingredient (API) Market - By Type of Synthesis
1.3.2 Active Pharmaceutical Ingredient (API) Market - By Therapeutic Application
1.3.3 Active Pharmaceutical Ingredient (API) Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET - GLOBAL MARKET ANALYSIS
6.1. ACTIVE PHARMACEUTICAL INGREDIENT (API) - GLOBAL MARKET OVERVIEW
6.2. ACTIVE PHARMACEUTICAL INGREDIENT (API) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET - REVENUE AND FORECASTS TO 2028 - TYPE OF SYNTHESIS
7.1. OVERVIEW
7.2. TYPE OF SYNTHESIS MARKET FORECASTS AND ANALYSIS
7.3. BIOTECH
7.3.1. Overview
7.3.2. Biotech Market Forecast and Analysis
7.4. SYNTHETIC
7.4.1. Overview
7.4.2. Synthetic Market Forecast and Analysis
8. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET - REVENUE AND FORECASTS TO 2028 - THERAPEUTIC APPLICATION
8.1. OVERVIEW
8.2. THERAPEUTIC APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CARDIOLOGY
8.3.1. Overview
8.3.2. Cardiology Market Forecast and Analysis
8.4. ONCOLOGY
8.4.1. Overview
8.4.2. Oncology Market Forecast and Analysis
8.5. CNS AND NEUROLOGY
8.5.1. Overview
8.5.2. CNS and Neurology Market Forecast and Analysis
8.6. ORTHOPAEDIC
8.6.1. Overview
8.6.2. Orthopaedic Market Forecast and Analysis
8.7. ENDOCRINOLOGY
8.7.1. Overview
8.7.2. Endocrinology Market Forecast and Analysis
8.8. PULMONOLOGY
8.8.1. Overview
8.8.2. Pulmonology Market Forecast and Analysis
8.9. GASTROENTEROLOGY
8.9.1. Overview
8.9.2. Gastroenterology Market Forecast and Analysis
8.10. NEPHROLOGY
8.10.1. Overview
8.10.2. Nephrology Market Forecast and Analysis
8.11. OPHTHALMOLOGY
8.11.1. Overview
8.11.2. Ophthalmology Market Forecast and Analysis
8.12. OTHERS
8.12.1. Overview
8.12.2. Others Market Forecast and Analysis
9. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Active Pharmaceutical Ingredient (API) Market Overview
9.1.2 North America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis
9.1.3 North America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Type of Synthesis
9.1.4 North America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Therapeutic Application
9.1.5 North America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Countries
9.1.5.1 United States Active Pharmaceutical Ingredient (API) Market
9.1.5.1.1 United States Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.1.5.1.2 United States Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.1.5.2 Canada Active Pharmaceutical Ingredient (API) Market
9.1.5.2.1 Canada Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.1.5.2.2 Canada Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.1.5.3 Mexico Active Pharmaceutical Ingredient (API) Market
9.1.5.3.1 Mexico Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.1.5.3.2 Mexico Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.2. EUROPE
9.2.1 Europe Active Pharmaceutical Ingredient (API) Market Overview
9.2.2 Europe Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis
9.2.3 Europe Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Type of Synthesis
9.2.4 Europe Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Therapeutic Application
9.2.5 Europe Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Active Pharmaceutical Ingredient (API) Market
9.2.5.1.1 Germany Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.2.5.1.2 Germany Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.2.5.2 France Active Pharmaceutical Ingredient (API) Market
9.2.5.2.1 France Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.2.5.2.2 France Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.2.5.3 Italy Active Pharmaceutical Ingredient (API) Market
9.2.5.3.1 Italy Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.2.5.3.2 Italy Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.2.5.4 Spain Active Pharmaceutical Ingredient (API) Market
9.2.5.4.1 Spain Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.2.5.4.2 Spain Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.2.5.5 United Kingdom Active Pharmaceutical Ingredient (API) Market
9.2.5.5.1 United Kingdom Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.2.5.5.2 United Kingdom Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Active Pharmaceutical Ingredient (API) Market Overview
9.3.2 Asia-Pacific Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis
9.3.3 Asia-Pacific Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Type of Synthesis
9.3.4 Asia-Pacific Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Therapeutic Application
9.3.5 Asia-Pacific Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Active Pharmaceutical Ingredient (API) Market
9.3.5.1.1 Australia Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.3.5.1.2 Australia Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.3.5.2 China Active Pharmaceutical Ingredient (API) Market
9.3.5.2.1 China Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.3.5.2.2 China Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.3.5.3 India Active Pharmaceutical Ingredient (API) Market
9.3.5.3.1 India Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.3.5.3.2 India Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.3.5.4 Japan Active Pharmaceutical Ingredient (API) Market
9.3.5.4.1 Japan Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.3.5.4.2 Japan Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.3.5.5 South Korea Active Pharmaceutical Ingredient (API) Market
9.3.5.5.1 South Korea Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.3.5.5.2 South Korea Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Active Pharmaceutical Ingredient (API) Market Overview
9.4.2 Middle East and Africa Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis
9.4.3 Middle East and Africa Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Type of Synthesis
9.4.4 Middle East and Africa Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Therapeutic Application
9.4.5 Middle East and Africa Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Active Pharmaceutical Ingredient (API) Market
9.4.5.1.1 South Africa Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.4.5.1.2 South Africa Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.4.5.2 Saudi Arabia Active Pharmaceutical Ingredient (API) Market
9.4.5.2.1 Saudi Arabia Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.4.5.2.2 Saudi Arabia Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.4.5.3 U.A.E Active Pharmaceutical Ingredient (API) Market
9.4.5.3.1 U.A.E Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.4.5.3.2 U.A.E Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Active Pharmaceutical Ingredient (API) Market Overview
9.5.2 South and Central America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis
9.5.3 South and Central America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Type of Synthesis
9.5.4 South and Central America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Therapeutic Application
9.5.5 South and Central America Active Pharmaceutical Ingredient (API) Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Active Pharmaceutical Ingredient (API) Market
9.5.5.1.1 Brazil Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.5.5.1.2 Brazil Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
9.5.5.2 Argentina Active Pharmaceutical Ingredient (API) Market
9.5.5.2.1 Argentina Active Pharmaceutical Ingredient (API) Market by Type of Synthesis
9.5.5.2.2 Argentina Active Pharmaceutical Ingredient (API) Market by Therapeutic Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ACTIVE PHARMACEUTICAL INGREDIENT (API) MARKET, KEY COMPANY PROFILES
11.1. TEVA PHARMACEUTICAL INDUSTRIES LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ABBVIE INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BOEHRINGER INGELHEIM INTERNATIONAL GMBH
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CIPLA INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MERCK
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. BRISTOL-MYERS SQUIBB COMPANY
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ALBEMARLE CORPORATION
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MYLAN N.V.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. AUROBINDO PHARMA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SUN PHARMACEUTICAL INDUSTRIES LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Teva Pharmaceutical Industries Ltd.
2. AbbVie, Inc.
3. Boehringer Ingelheim International GmbH
4. Cipla, Inc.
5. Merck & Co., Inc.
6. Bristol-Myers Squibb Company
7. Albemarle Corporation
8. Mylan N.V.
9. Aurobindo Pharma
10. Sun Pharmaceutical Industries Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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:
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.
- 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.
- 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.
Get Free Sample For