Antihyperlipidemic Drugs Market Opportunities 2031
MARKET OVERVIEW
Antihyperlipidemic drugs work to lower blood lipid levels and lower the risk of heart disease, pulmonary artery disease, and high cholesterol. These medications also assist the body to get rid of extra lipids in the faeces by reducing lipid absorption. Antihyperlipidemic medications are frequently prescribed by doctors with other medications to increase good cholesterol levels and decrease bad cholesterol levels. A patient's cholesterol profile and other underlying conditions allow doctors to choose the optimal antihyperlipidemic treatment from various options. Statins are the most extensively used antihyperlipidemic medication. Patients can use niacin, fibrates, and bile acid sequestrants based on the body's lipid levels. These antihyperlipidemic medications all work in different ways; some may take weeks to affect the body, while others might have negative side effects. Doctors prefer to use conservative measures to treat patients with unusually high lipid, including modification in diet and activity. This is the best way to restore the patient's ideal health and physical condition. However, if these approaches are ineffective, doctors will prescribe antihyperlipidemic medications and modify the dosage based on the patient's recovery.
The demand for antihyperlipidemic drugs is on the rise due to the increase in sedentary lifestyles across the globe. Additionally, surge in heart disease and stroke risk factors with elevated cholesterol levels are further expected to contribute the market growth. High cholesterol contributes to one-third of ischemic heart disease cases worldwide. According to WHO, elevated cholesterol contributes to 29.7 million DALYS, or 2% of all DALYS, and 2.6 million fatalities (4.5% of all deaths). Moreover, increasing awareness related to the use of antihyperlipidemic drugs also drives the antihyperlipidemic drugs market growth in the near future.
MARKET SCOPE
The “Global antihyperlipidemic drugs market analysis to 2031” is a specialized and in-depth study of the pharmaceutical industry with a special focus on global market trend analysis. The report aims to provide an overview of the antihyperlipidemic drugs market with detailed market segmentation by drug class, distribution channel, and geography. The report provides key statistics on the market status of the leading antihyperlipidemic drugs market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The antihyperlipidemic drugs market is segmented based on drug class, distribution channel, and region. Based on drug class, the global antihyperlipidemic drugs market is differentiated into statins, bile acid sequestrants, cholesterol absorption inhibitor, fibric acid dervivatives, PCSK9 Inhibitors, combination, and others. By distribution channel, the antihyperlipidemic drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
MARKET DYNAMICS
Drivers-
The American Heart Association claims that after the age of 20, cholesterol levels gradually rise. They often begin to decline after the age of 70 for women and 60 for men. In addition, women of all ages typically have mean HDL-C levels about 10mg/dl greater than all men. The advent of new drug classes for nonstatin users, an increase in the number of statin users, and recommendations for the use of antihyperlipidemics to reduce the risk of cardiovascular diseases (CVD) are some of the causes that are projected to boost the market. The U.S. hyperlipidemia guidelines, which address the dosage regimen of statins for patients over the age of 21 are at risk of developing atherosclerotic cardiovascular disease (ASCVD), that are crucial to the antihyperlipidemic drugs market's expansion. As a result, new comorbidities of high cholesterol and triglyceride levels are becoming part of the target group for statins. The majority of antihyperlipidemic medications have mild side effects. However, some medications have a high risk of having severe side effects, like type 2 diabetes or liver damage. Even in the later stages of studies, drug classes like CETP inhibitors have been dropped or discontinued because of side effects or an inability to provide sufficient outcomes. Hence, risks associated with antihyperlipidemics pose a major challenge to their entry into the antihyperlipidemic drugs market.
The market for antihyperlipidemic medications is dominated by the North American region, which held the greatest antihyperlipidemic drugs market market share in 2022. The market for antihyperlipidemic medications in North America is expected to grow due to the increased incidence of cardiovascular disorders and stokes. For instance, in the United States, there are around 795,000 strokes per year. Thus, increasing cases of strokes drive the regional growth for antihyperlipidemic drugs market. Over the past several years, the demand for antihyperlipidemic medications has increased in U.S. owing to excessive lipid levels that can cause several illnesses, including artery blockages and plaques, which can have life-threatening consequences.
Europe was the second leading revenue contributor in the global antihyperlipidemic drugs market market. the region is expected to closely follow North America during the forecast period owing to the high frequency of hyperlipidemia in the region. Moreover, lifestyle choices or underlying medical disorders are the main contributors of hyperlipidemia. It is hypothesised that lifestyle factors such as obesity, smoking, and inactivity will cause hyperlipidemia and diseases such as Kidney disease, diabetes, and other illnesses are prone to cause hyperlipidemia. Furthermore, surge in geriatric population is also expected to contribute the rising prevelance of hyperlipidemic as the eldely population is more prone to various disorders such as cardiovascular disorders, kidney disease, and other and are likely to drive growth in the market for antihyperlipidemic medications worldwide.
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The market for antihyperlipidemic medications is dominated by the North American region, which held the greatest antihyperlipidemic drugs market market share in 2022. The market for antihyperlipidemic medications in North America is expected to grow due to the increased incidence of cardiovascular disorders and stokes. For instance, in the United States, there are around 795,000 strokes per year. Thus, increasing cases of strokes drive the regional growth for antihyperlipidemic drugs market. Over the past several years, the demand for antihyperlipidemic medications has increased in U.S. owing to excessive lipid levels that can cause several illnesses, including artery blockages and plaques, which can have life-threatening consequences.
Europe was the second leading revenue contributor in the global antihyperlipidemic drugs market market. the region is expected to closely follow North America during the forecast period owing to the high frequency of hyperlipidemia in the region. Moreover, lifestyle choices or underlying medical disorders are the main contributors of hyperlipidemia. It is hypothesised that lifestyle factors such as obesity, smoking, and inactivity will cause hyperlipidemia and diseases such as Kidney disease, diabetes, and other illnesses are prone to cause hyperlipidemia. Furthermore, surge in geriatric population is also expected to contribute the rising prevelance of hyperlipidemic as the eldely population is more prone to various disorders such as cardiovascular disorders, kidney disease, and other and are likely to drive growth in the market for antihyperlipidemic medications worldwide.
MARKET PLAYERS
The report covers key antihyperlipidemic drugs market developments, such as organic and inorganic growth strategies. Various companies such as Abbvie, Amgen, Inc, AstraZeneca, Bristol-Myers Squibb, Daiichi Sankyo, Dr. Reddy's Laboratories, Merck & Co. Inc., Novartis AG, Mylan N.V., Pfizer, and among others 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 market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the antihyperlipidemic drugs market are anticipated to have lucrative growth opportunities with the rising demand for pain management therapeutics in the global market.
Key Developments in the Global Antihyperlipidemic drugs market
- In August 2022, The American College of Cardiology (ACC) task force on expert consensus decision pathways (ECDP) recommended bempedoic acid (NEXLETOL) as a significant oral non-statin therapy for LDL-cholesterol (LDL-C) lowering in the management of atherosclerotic cardiovascular disease (ASCVD), according to Esperion.
- In May 2022, Sun Pharma launched oral lipid lowering agent in India. It is recommended for persons with heart disease who are taking the maximum acceptable dose of statins and those with hereditary genetic disorders that raise cholesterol levels.
- In May 2022, Zydus Lifesciences Limited launched Bemdac (Bempedoic acid), a new class of oral drug in India. The medication introduces a new line of treatment for those with uncontrolled LDL-cholesterol (LDL-c) levels despite lifestyle changes and the administration of maximum tolerated doses of statins, which are the current line of treatment and the cornerstone of managing dyslipidemia.
- In December 2019, Novartis received US Food and Drug Administration (FDA) approval for Leqvio (inclisiran), a first-in-class siRNA to lower cholesterol.
The report also includes key companies' profiles, their SWOT analysis, and antihyperlipidemic drugs market size in the antihyperlipidemic drugs market . In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.
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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
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Antihyperlipidemic Drugs Market - By Drug Class
1.3.2 Antihyperlipidemic Drugs Market - By Distribution Channel
1.3.3 Antihyperlipidemic Drugs Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ANTIHYPERLIPIDEMIC DRUGS 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. ANTIHYPERLIPIDEMIC DRUGS 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. ANTIHYPERLIPIDEMIC DRUGS MARKET - GLOBAL MARKET ANALYSIS
6.1. ANTIHYPERLIPIDEMIC DRUGS - GLOBAL MARKET OVERVIEW
6.2. ANTIHYPERLIPIDEMIC DRUGS - GLOBAL MARKET AND FORECAST TO 2030
6.3. MARKET POSITIONING
7. ANTIHYPERLIPIDEMIC DRUGS MARKET - REVENUE AND FORECASTS TO 2030 - DRUG CLASS
7.1. OVERVIEW
7.2. DRUG CLASS MARKET FORECASTS AND ANALYSIS
7.3. BILE ACID SEQUESTRANTS
7.3.1. Overview
7.3.2. Bile Acid Sequestrants Market Forecast and Analysis
7.4. CHOLESTEROL ABSORPTION INHIBITOR
7.4.1. Overview
7.4.2. Cholesterol Absorption Inhibitor Market Forecast and Analysis
7.5. FIBRIC ACID DERIVATIVES
7.5.1. Overview
7.5.2. Fibric Acid Derivatives Market Forecast and Analysis
7.6. PCSK9 INHIBITORS
7.6.1. Overview
7.6.2. PCSK9 Inhibitors Market Forecast and Analysis
7.7. COMBINATION
7.7.1. Overview
7.7.2. Combination Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. ANTIHYPERLIPIDEMIC DRUGS MARKET - REVENUE AND FORECASTS TO 2030 - DISTRIBUTION CHANNEL
8.1. OVERVIEW
8.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
8.3. HOSPITAL PHARMACIES
8.3.1. Overview
8.3.2. Hospital Pharmacies Market Forecast and Analysis
8.4. RETAIL PHARMACIES
8.4.1. Overview
8.4.2. Retail Pharmacies Market Forecast and Analysis
8.5. ONLINE PHARMACIES
8.5.1. Overview
8.5.2. Online Pharmacies Market Forecast and Analysis
9. ANTIHYPERLIPIDEMIC DRUGS MARKET REVENUE AND FORECASTS TO 2030 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Antihyperlipidemic Drugs Market Overview
9.1.2 North America Antihyperlipidemic Drugs Market Forecasts and Analysis
9.1.3 North America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Drug Class
9.1.4 North America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Distribution Channel
9.1.5 North America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Countries
9.1.5.1 United States Antihyperlipidemic Drugs Market
9.1.5.1.1 United States Antihyperlipidemic Drugs Market by Drug Class
9.1.5.1.2 United States Antihyperlipidemic Drugs Market by Distribution Channel
9.1.5.2 Canada Antihyperlipidemic Drugs Market
9.1.5.2.1 Canada Antihyperlipidemic Drugs Market by Drug Class
9.1.5.2.2 Canada Antihyperlipidemic Drugs Market by Distribution Channel
9.1.5.3 Mexico Antihyperlipidemic Drugs Market
9.1.5.3.1 Mexico Antihyperlipidemic Drugs Market by Drug Class
9.1.5.3.2 Mexico Antihyperlipidemic Drugs Market by Distribution Channel
9.2. EUROPE
9.2.1 Europe Antihyperlipidemic Drugs Market Overview
9.2.2 Europe Antihyperlipidemic Drugs Market Forecasts and Analysis
9.2.3 Europe Antihyperlipidemic Drugs Market Forecasts and Analysis - By Drug Class
9.2.4 Europe Antihyperlipidemic Drugs Market Forecasts and Analysis - By Distribution Channel
9.2.5 Europe Antihyperlipidemic Drugs Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Antihyperlipidemic Drugs Market
9.2.5.1.1 Germany Antihyperlipidemic Drugs Market by Drug Class
9.2.5.1.2 Germany Antihyperlipidemic Drugs Market by Distribution Channel
9.2.5.2 France Antihyperlipidemic Drugs Market
9.2.5.2.1 France Antihyperlipidemic Drugs Market by Drug Class
9.2.5.2.2 France Antihyperlipidemic Drugs Market by Distribution Channel
9.2.5.3 Italy Antihyperlipidemic Drugs Market
9.2.5.3.1 Italy Antihyperlipidemic Drugs Market by Drug Class
9.2.5.3.2 Italy Antihyperlipidemic Drugs Market by Distribution Channel
9.2.5.4 Spain Antihyperlipidemic Drugs Market
9.2.5.4.1 Spain Antihyperlipidemic Drugs Market by Drug Class
9.2.5.4.2 Spain Antihyperlipidemic Drugs Market by Distribution Channel
9.2.5.5 United Kingdom Antihyperlipidemic Drugs Market
9.2.5.5.1 United Kingdom Antihyperlipidemic Drugs Market by Drug Class
9.2.5.5.2 United Kingdom Antihyperlipidemic Drugs Market by Distribution Channel
9.2.5.6 Rest of Europe Antihyperlipidemic Drugs Market
9.2.5.6.1 Rest of Europe Antihyperlipidemic Drugs Market by Drug Class
9.2.5.6.2 Rest of Europe Antihyperlipidemic Drugs Market by Distribution Channel
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Antihyperlipidemic Drugs Market Overview
9.3.2 Asia-Pacific Antihyperlipidemic Drugs Market Forecasts and Analysis
9.3.3 Asia-Pacific Antihyperlipidemic Drugs Market Forecasts and Analysis - By Drug Class
9.3.4 Asia-Pacific Antihyperlipidemic Drugs Market Forecasts and Analysis - By Distribution Channel
9.3.5 Asia-Pacific Antihyperlipidemic Drugs Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Antihyperlipidemic Drugs Market
9.3.5.1.1 Australia Antihyperlipidemic Drugs Market by Drug Class
9.3.5.1.2 Australia Antihyperlipidemic Drugs Market by Distribution Channel
9.3.5.2 China Antihyperlipidemic Drugs Market
9.3.5.2.1 China Antihyperlipidemic Drugs Market by Drug Class
9.3.5.2.2 China Antihyperlipidemic Drugs Market by Distribution Channel
9.3.5.3 India Antihyperlipidemic Drugs Market
9.3.5.3.1 India Antihyperlipidemic Drugs Market by Drug Class
9.3.5.3.2 India Antihyperlipidemic Drugs Market by Distribution Channel
9.3.5.4 Japan Antihyperlipidemic Drugs Market
9.3.5.4.1 Japan Antihyperlipidemic Drugs Market by Drug Class
9.3.5.4.2 Japan Antihyperlipidemic Drugs Market by Distribution Channel
9.3.5.5 South Korea Antihyperlipidemic Drugs Market
9.3.5.5.1 South Korea Antihyperlipidemic Drugs Market by Drug Class
9.3.5.5.2 South Korea Antihyperlipidemic Drugs Market by Distribution Channel
9.3.5.6 Rest of Asia-Pacific Antihyperlipidemic Drugs Market
9.3.5.6.1 Rest of Asia-Pacific Antihyperlipidemic Drugs Market by Drug Class
9.3.5.6.2 Rest of Asia-Pacific Antihyperlipidemic Drugs Market by Distribution Channel
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Antihyperlipidemic Drugs Market Overview
9.4.2 Middle East and Africa Antihyperlipidemic Drugs Market Forecasts and Analysis
9.4.3 Middle East and Africa Antihyperlipidemic Drugs Market Forecasts and Analysis - By Drug Class
9.4.4 Middle East and Africa Antihyperlipidemic Drugs Market Forecasts and Analysis - By Distribution Channel
9.4.5 Middle East and Africa Antihyperlipidemic Drugs Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Antihyperlipidemic Drugs Market
9.4.5.1.1 South Africa Antihyperlipidemic Drugs Market by Drug Class
9.4.5.1.2 South Africa Antihyperlipidemic Drugs Market by Distribution Channel
9.4.5.2 Saudi Arabia Antihyperlipidemic Drugs Market
9.4.5.2.1 Saudi Arabia Antihyperlipidemic Drugs Market by Drug Class
9.4.5.2.2 Saudi Arabia Antihyperlipidemic Drugs Market by Distribution Channel
9.4.5.3 U.A.E Antihyperlipidemic Drugs Market
9.4.5.3.1 U.A.E Antihyperlipidemic Drugs Market by Drug Class
9.4.5.3.2 U.A.E Antihyperlipidemic Drugs Market by Distribution Channel
9.4.5.4 Rest of Middle East and Africa Antihyperlipidemic Drugs Market
9.4.5.4.1 Rest of Middle East and Africa Antihyperlipidemic Drugs Market by Drug Class
9.4.5.4.2 Rest of Middle East and Africa Antihyperlipidemic Drugs Market by Distribution Channel
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Antihyperlipidemic Drugs Market Overview
9.5.2 South and Central America Antihyperlipidemic Drugs Market Forecasts and Analysis
9.5.3 South and Central America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Drug Class
9.5.4 South and Central America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Distribution Channel
9.5.5 South and Central America Antihyperlipidemic Drugs Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Antihyperlipidemic Drugs Market
9.5.5.1.1 Brazil Antihyperlipidemic Drugs Market by Drug Class
9.5.5.1.2 Brazil Antihyperlipidemic Drugs Market by Distribution Channel
9.5.5.2 Argentina Antihyperlipidemic Drugs Market
9.5.5.2.1 Argentina Antihyperlipidemic Drugs Market by Drug Class
9.5.5.2.2 Argentina Antihyperlipidemic Drugs Market by Distribution Channel
9.4.5. Rest of South and Central America Antihyperlipidemic Drugs Market
9.4.5.4.1 Rest of South and Central America Antihyperlipidemic Drugs Market by Drug Class
9.4.5.4.2 Rest of South and Central America Antihyperlipidemic Drugs Market by Distribution Channel
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ANTIHYPERLIPIDEMIC DRUGS MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ANTIHYPERLIPIDEMIC DRUGS MARKET, KEY COMPANY PROFILES
12.1. ABBVIE INC.
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. AMGEN INC.
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ASTRAZENECA PLC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. BRISTOL-MAYERS SQUIBB COMPANY
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. MERCK AND CO., INC.
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. MYLAN N.V.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. PFIZER, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SANOFI S.A.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. NOVARTIS
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. DR. REDDY'S LABORATORIES LTD.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. ABBVIE
2. AMGEN INC.
3. ASTRAZENECA PLC.,
4. BRISTOL-MAYERS SQUIBB COMPANY
5. MERCK AND CO., INC.,
6. NOVARTIS AG
7. SANOFI S.A.,
8. PFIZER, INC.
9. MYLAN NV.
10. DR. REDDY'S LABORATORIES LTD
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
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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.
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- Primary Research:
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- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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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:
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- 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.
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