Adhesive Bandages Market SWOT Analysis by 2031
Adhesive bandages are sticking plaster that are used to treat injuries. The bandage protects the wound from bacteria, damage, friction, and dirt, thus preventing infections. Some of the adhesive bandages possess antiseptic properties that enhances the healing process. Adhesive bandage is a small sheet made up of fabric, plastic (PVC, polyethylene or polyurethane), or latex strip. Depending on the material used, it might be waterproof or airtight. The adhesive bandage possesses an absorbent pad that is made up of cotton. The absorbent pad contains antiseptic solution and other medicinal ingredients. Some of the absorbent pad are composed of hydrogels to absorb water from the wounds or blisters. There are different types of bandages available like transdermal patches, butterfly closures and others.
MARKET SCOPE
The "Global Adhesive Bandages Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the adhesive bandages market with detailed market segmentation by type, application, end user, and geography. The report provides key statistics on the market status of the leading adhesive bandages market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the market is segmented as fabric adhesive bandages, paper adhesive bandages, plastic adhesive bandages, transdermal patches market, butterfly closures, and waterproof adhesive bandages.
- Based on application, the market is segmented as surgical wound treatment, ulcers, sports injury and other injuries.
- Based on end user, the market is segmented as hospital, clinics, ambulatory surgery centers and homecare
MARKET DYNAMICS
Drivers:
- The adhesive bandages market is expected to witness growth due to rising awareness for wound care, rising prevalence of ulcers, diabetic foot and surgical procedures.
- Furthermore growing geriatric population, increasing accidents, sports injuries and trauma cases and advancements in wound care is thereby fueling market growth.
Restraints
- Some people are allergic to these adhesive bandages due to the material used like latex, this hinders market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The adhesive bandages market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the adhesive bandages market in these regions.
IMPACT OF COVID-19 ON ADHESIVE BANDAGES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Rising support from governments and several organizations can help in the battle against this highly contagious disease. Some industries are fighting, and some are growing. Overall, almost every sector is supposed to be influenced by the pandemic. According to the University of Birmingham study, approximately 72.3% of all elective surgeries were canceled throughout COVID-19, most of which are non-cancer conditions. The COVID-19 outbreak impacted the medical bandages market, due to nationwide lockdowns, denied wound care services, canceled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers. Thus, the wound care market is expected to register a certain decline during the forecast period.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The adhesive bandages market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the adhesive bandages market in these regions.
IMPACT OF COVID-19 ON ADHESIVE BANDAGES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Rising support from governments and several organizations can help in the battle against this highly contagious disease. Some industries are fighting, and some are growing. Overall, almost every sector is supposed to be influenced by the pandemic. According to the University of Birmingham study, approximately 72.3% of all elective surgeries were canceled throughout COVID-19, most of which are non-cancer conditions. The COVID-19 outbreak impacted the medical bandages market, due to nationwide lockdowns, denied wound care services, canceled or postponed elective surgeries, and increasing skin injuries in COVID-19 medical care providers. Thus, the wound care market is expected to register a certain decline during the forecast period.
MARKET PLAYERS
The report covers key developments in the adhesive bandages market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from adhesive bandages market are anticipated to lucrative growth opportunities in the future with the rising demand for adhesive bandages in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the adhesive bandages market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Medline Indutries
- Smith & Nephew
- Cardinal Health
- 3M
- Mölnlycke Health Care AB
- Johnson & Johnson Services, Inc.
- Derma Sciences Inc.
- B. Braun Melsungen AG
- Hartmann USA, Inc.
- Goldwin Medicare
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- 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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Adhesive Bandages Market - By Type
1.3.2 Adhesive Bandages Market - By Application
1.3.3 Adhesive Bandages Market - By End-User
1.3.4 Adhesive Bandages Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ADHESIVE BANDAGES 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. ADHESIVE BANDAGES 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 AND RESTRAINTS
6. ADHESIVE BANDAGES MARKET - GLOBAL MARKET ANALYSIS
6.1. ADHESIVE BANDAGES - GLOBAL MARKET OVERVIEW
6.2. ADHESIVE BANDAGES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ADHESIVE BANDAGES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. FABRIC ADHESIVE BANDAGES
7.3.1. Overview
7.3.2. Fabric Adhesive Bandages Market Forecast and Analysis
7.4. PAPER ADHESIVE BANDAGES
7.4.1. Overview
7.4.2. Paper Adhesive Bandages Market Forecast and Analysis
7.5. PLASTIC ADHESIVE BANDAGES
7.5.1. Overview
7.5.2. Plastic Adhesive Bandages Market Forecast and Analysis
7.6. TRANSDERMAL PATCHES MARKET
7.6.1. Overview
7.6.2. Transdermal Patches Market Market Forecast and Analysis
7.7. BUTTERFLY CLOSURES
7.7.1. Overview
7.7.2. Butterfly Closures Market Forecast and Analysis
7.8. WATERPROOF ADHESIVE BANDAGES
7.8.1. Overview
7.8.2. Waterproof Adhesive Bandages Market Forecast and Analysis
8. ADHESIVE BANDAGES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SURGICAL WOUND TREATMENT
8.3.1. Overview
8.3.2. Surgical Wound Treatment Market Forecast and Analysis
8.4. ULCERS
8.4.1. Overview
8.4.2. Ulcers Market Forecast and Analysis
8.5. SPORTS INJURY
8.5.1. Overview
8.5.2. Sports Injury Market Forecast and Analysis
8.6. OTHER INJURIES
8.6.1. Overview
8.6.2. Other Injuries Market Forecast and Analysis
9. ADHESIVE BANDAGES MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. CLINICS
9.4.1. Overview
9.4.2. Clinics Market Forecast and Analysis
9.5. AMBULATORY SURGERY CENTERS
9.5.1. Overview
9.5.2. Ambulatory Surgery Centers Market Forecast and Analysis
9.6. HOMECARE
9.6.1. Overview
9.6.2. Homecare Market Forecast and Analysis
10. ADHESIVE BANDAGES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Adhesive Bandages Market Overview
10.1.2 North America Adhesive Bandages Market Forecasts and Analysis
10.1.3 North America Adhesive Bandages Market Forecasts and Analysis - By Type
10.1.4 North America Adhesive Bandages Market Forecasts and Analysis - By Application
10.1.5 North America Adhesive Bandages Market Forecasts and Analysis - By End-User
10.1.6 North America Adhesive Bandages Market Forecasts and Analysis - By Countries
10.1.6.1 United States Adhesive Bandages Market
10.1.6.1.1 United States Adhesive Bandages Market by Type
10.1.6.1.2 United States Adhesive Bandages Market by Application
10.1.6.1.3 United States Adhesive Bandages Market by End-User
10.1.6.2 Canada Adhesive Bandages Market
10.1.6.2.1 Canada Adhesive Bandages Market by Type
10.1.6.2.2 Canada Adhesive Bandages Market by Application
10.1.6.2.3 Canada Adhesive Bandages Market by End-User
10.1.6.3 Mexico Adhesive Bandages Market
10.1.6.3.1 Mexico Adhesive Bandages Market by Type
10.1.6.3.2 Mexico Adhesive Bandages Market by Application
10.1.6.3.3 Mexico Adhesive Bandages Market by End-User
10.2. EUROPE
10.2.1 Europe Adhesive Bandages Market Overview
10.2.2 Europe Adhesive Bandages Market Forecasts and Analysis
10.2.3 Europe Adhesive Bandages Market Forecasts and Analysis - By Type
10.2.4 Europe Adhesive Bandages Market Forecasts and Analysis - By Application
10.2.5 Europe Adhesive Bandages Market Forecasts and Analysis - By End-User
10.2.6 Europe Adhesive Bandages Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Adhesive Bandages Market
10.2.6.1.1 Germany Adhesive Bandages Market by Type
10.2.6.1.2 Germany Adhesive Bandages Market by Application
10.2.6.1.3 Germany Adhesive Bandages Market by End-User
10.2.6.2 France Adhesive Bandages Market
10.2.6.2.1 France Adhesive Bandages Market by Type
10.2.6.2.2 France Adhesive Bandages Market by Application
10.2.6.2.3 France Adhesive Bandages Market by End-User
10.2.6.3 Italy Adhesive Bandages Market
10.2.6.3.1 Italy Adhesive Bandages Market by Type
10.2.6.3.2 Italy Adhesive Bandages Market by Application
10.2.6.3.3 Italy Adhesive Bandages Market by End-User
10.2.6.4 Spain Adhesive Bandages Market
10.2.6.4.1 Spain Adhesive Bandages Market by Type
10.2.6.4.2 Spain Adhesive Bandages Market by Application
10.2.6.4.3 Spain Adhesive Bandages Market by End-User
10.2.6.5 United Kingdom Adhesive Bandages Market
10.2.6.5.1 United Kingdom Adhesive Bandages Market by Type
10.2.6.5.2 United Kingdom Adhesive Bandages Market by Application
10.2.6.5.3 United Kingdom Adhesive Bandages Market by End-User
10.2.6.6 Rest of Europe Adhesive Bandages Market
10.2.6.6.1 Rest of Europe Adhesive Bandages Market by Type
10.2.6.6.2 Rest of Europe Adhesive Bandages Market by Application
10.2.6.6.3 Rest of Europe Adhesive Bandages Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Adhesive Bandages Market Overview
10.3.2 Asia-Pacific Adhesive Bandages Market Forecasts and Analysis
10.3.3 Asia-Pacific Adhesive Bandages Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Adhesive Bandages Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Adhesive Bandages Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Adhesive Bandages Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Adhesive Bandages Market
10.3.6.1.1 Australia Adhesive Bandages Market by Type
10.3.6.1.2 Australia Adhesive Bandages Market by Application
10.3.6.1.3 Australia Adhesive Bandages Market by End-User
10.3.6.2 China Adhesive Bandages Market
10.3.6.2.1 China Adhesive Bandages Market by Type
10.3.6.2.2 China Adhesive Bandages Market by Application
10.3.6.2.3 China Adhesive Bandages Market by End-User
10.3.6.3 India Adhesive Bandages Market
10.3.6.3.1 India Adhesive Bandages Market by Type
10.3.6.3.2 India Adhesive Bandages Market by Application
10.3.6.3.3 India Adhesive Bandages Market by End-User
10.3.6.4 Japan Adhesive Bandages Market
10.3.6.4.1 Japan Adhesive Bandages Market by Type
10.3.6.4.2 Japan Adhesive Bandages Market by Application
10.3.6.4.3 Japan Adhesive Bandages Market by End-User
10.3.6.5 South Korea Adhesive Bandages Market
10.3.6.5.1 South Korea Adhesive Bandages Market by Type
10.3.6.5.2 South Korea Adhesive Bandages Market by Application
10.3.6.5.3 South Korea Adhesive Bandages Market by End-User
10.3.6.6 Rest of Asia-Pacific Adhesive Bandages Market
10.3.6.6.1 Rest of Asia-Pacific Adhesive Bandages Market by Type
10.3.6.6.2 Rest of Asia-Pacific Adhesive Bandages Market by Application
10.3.6.6.3 Rest of Asia-Pacific Adhesive Bandages Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Adhesive Bandages Market Overview
10.4.2 Middle East and Africa Adhesive Bandages Market Forecasts and Analysis
10.4.3 Middle East and Africa Adhesive Bandages Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Adhesive Bandages Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Adhesive Bandages Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Adhesive Bandages Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Adhesive Bandages Market
10.4.6.1.1 South Africa Adhesive Bandages Market by Type
10.4.6.1.2 South Africa Adhesive Bandages Market by Application
10.4.6.1.3 South Africa Adhesive Bandages Market by End-User
10.4.6.2 Saudi Arabia Adhesive Bandages Market
10.4.6.2.1 Saudi Arabia Adhesive Bandages Market by Type
10.4.6.2.2 Saudi Arabia Adhesive Bandages Market by Application
10.4.6.2.3 Saudi Arabia Adhesive Bandages Market by End-User
10.4.6.3 U.A.E Adhesive Bandages Market
10.4.6.3.1 U.A.E Adhesive Bandages Market by Type
10.4.6.3.2 U.A.E Adhesive Bandages Market by Application
10.4.6.3.3 U.A.E Adhesive Bandages Market by End-User
10.4.6.4 Rest of Middle East and Africa Adhesive Bandages Market
10.4.6.4.1 Rest of Middle East and Africa Adhesive Bandages Market by Type
10.4.6.4.2 Rest of Middle East and Africa Adhesive Bandages Market by Application
10.4.6.4.3 Rest of Middle East and Africa Adhesive Bandages Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Adhesive Bandages Market Overview
10.5.2 South and Central America Adhesive Bandages Market Forecasts and Analysis
10.5.3 South and Central America Adhesive Bandages Market Forecasts and Analysis - By Type
10.5.4 South and Central America Adhesive Bandages Market Forecasts and Analysis - By Application
10.5.5 South and Central America Adhesive Bandages Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Adhesive Bandages Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Adhesive Bandages Market
10.5.6.1.1 Brazil Adhesive Bandages Market by Type
10.5.6.1.2 Brazil Adhesive Bandages Market by Application
10.5.6.1.3 Brazil Adhesive Bandages Market by End-User
10.5.6.2 Argentina Adhesive Bandages Market
10.5.6.2.1 Argentina Adhesive Bandages Market by Type
10.5.6.2.2 Argentina Adhesive Bandages Market by Application
10.5.6.2.3 Argentina Adhesive Bandages Market by End-User
10.5.6.3 Rest of South and Central America Adhesive Bandages Market
10.5.6.3.1 Rest of South and Central America Adhesive Bandages Market by Type
10.5.6.3.2 Rest of South and Central America Adhesive Bandages Market by Application
10.5.6.3.3 Rest of South and Central America Adhesive Bandages Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ADHESIVE BANDAGES MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ADHESIVE BANDAGES MARKET, KEY COMPANY PROFILES
13.1. MEDLINE INDUTRIES
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. SMITH AND NEPHEW
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. CARDINAL HEALTH
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. 3M
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. MöLNLYCKE HEALTH CARE AB
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. JOHNSON AND JOHNSON SERVICES, INC.
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. DERMA SCIENCES 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. B. BRAUN MELSUNGEN 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. HARTMANN USA, 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
13.10. GOLDWIN MEDICARE
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Medline Indutries
2. Smith & Nephew
3. Cardinal Health
4. 3M
5. Mölnlycke Health Care AB
6. Johnson & Johnson Services, Inc.
7. Derma Sciences Inc.
8. B. Braun Melsungen AG
9. Hartmann USA, Inc.
10. Goldwin Medicare
11. Dynarex Corporation
12. Beiersdorf
13. Conva Tec
14. Detectaplast, Inc.
15. Essity Aktiebolag
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.
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