Biomaterials Devices Market Trends, Size, Analysis 2031
The Biomaterials Devices Market is expected to register a CAGR of 7.2% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report on Biomaterials Devices Market discusses the present market and its growth in the future along with drivers of the industry. The market is split based on the type of product-Biomaterial Implants, Biodegradable Stents, Tissue Engineering Products, and Others. In addition, an analysis has been done on the application area of the product that includes Orthopedics, Cardiovascular, Dental, Neurology, and Others.
Global analysis is divided into regional levels and key markets like North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Such segmentation helps stakeholders understand local trends, regulatory environments, and growth opportunities of various regions. This market valuation for the above segmental analysis is denoted in US dollars (US$), giving insights into market size, growth trajectories, and forecasts.
The report Biomaterials Devices 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.
Biomaterials Devices Market Segmentation
Type- Natural
- Polymers
- Ceramic
- Metalic
- orthopedic
- cardiovascular
- Dental
- opthamology
- Tissue engineering
Strategic Insights
Biomaterials Devices Market Growth Drivers- Increasing Prevalence of Chronic Diseases: The rapidly increasing prevalence of diabetes, cardiovascular diseases, and orthopedic disorders, among others, has driven the demand for biomaterials devices. Chronic diseases, according to the World Health Organization, make up about 71% of all causes of death globally, meaning an overall necessity for effective medical interventions. More surgical procedures performed under such conditions create a greater demand for more biomaterials, such as implants and grafts.
- Technological Advancements: Improved biomaterials technology has quickly been coming up with new generations of products that enhance the welfare of patients. For instance, 3D printing in personalized implant production has transformed the face of the industry. Biomaterials market growth is largely led by the aging demographic. According to the United Nations, the population that is 60 years and older will reach 2.1 billion in 2050. Older adults are more susceptible to chronic conditions, as well as may have different types of biomaterial devices installed, such as joint replacement and cardiovascular implants. As the demographic surges forward, the demand for biomaterials within healthcare sectors is increasing.
- Growing demand for minimally invasive procedures: Biomaterial devices are likely to see adoption in minimally invasive surgeries. MIS has several advantages, such as reduced recovery time and low rates of complications.
- Innovation in Medical Technologies: The biomaterials devices market is a fast-growing market due to the development of medical technology, an aging population, and enhanced demand for high-end health facilities. Biomaterials are natural and synthetic materials that are being used throughout various medical devices. Biomaterials serve in many applications such as tissue engineering, orthopedics, cardiovascular treatment, and wound care. Biomaterial devices would be continuously innovated with emerging clinical needs as health demands increase. Therefore, all those materials that, while being biocompatible, could enable therapeutic interactions with biological systems would be of immense value in a wide variety of medical applications.
- Development of Next-generation devices: The biomaterials devices market witnesses huge trend changes, especially technological innovations. Biomaterial research and development have made it possible to build next-generation devices with advanced levels of biocompatibility and mechanical properties. Nanotechnology, 3D printing, and tissue engineering combined can develop personalized, patient-specific devices. This innovation is expected to impact strongly in areas such as drug delivery systems, artificial organs, and implants for accurate and successful treatment options.
- Offering reliable solutions: The biomaterials device market would also be driven by an increasing prevalence of chronic diseases, including cardiovascular disorders, diabetes, and osteoarthritis. In general, aging populations in most developed nations would contribute to an increase in demand for biomaterial orthopedic implants, cardiovascular stents, and dental devices. Such devices help improve the quality of life for patients by offering permanent and reliable solutions for critical conditions.
- Focus on biodegradable biomaterials: Environmental sustainability is increasingly assuming importance in healthcare, and interest is developing in intrinsically biodegradable materials that are capable of natural degradation in the body. This eliminates the need for secondary surgeries to remove devices and reduces long-term health risks due to the devices. These biomaterials are applied in wound management, drug delivery, and temporary implants and have therefore become very attractive to patients and providers.
- Investment in R&D: Companies that invest in R&D to develop the next generation of biomaterials, with improved properties for biocompatibility, mechanical strength, and longevity, will see huge payoffs. Innovations such as 3D printing and nanotechnology are now allowing the manufacturing of patient-specific devices, especially in orthopedics and cardiovascular treatments.
- Development of high-performance biomaterials: Biomaterial device market growth opportunities for biomaterial companies also emanate from an increase in chronic diseases. For example, the growing burden of CVDs, estimated to cause by the WHO more than 17 million deaths annually, underpins a very strong demand for biomaterials used in stents, heart valves, and other implants used in cardiovascular applications. Orthopedic applications represent another growth area driven by the aging population. The International Osteoporosis Foundation estimates that more than 200 million people around the world suffer from osteoporosis, which in turn creates an urgent and increasing demand for biomaterial-based joint replacements and bone grafts. It can, therefore, be very rewarding for a company to invest in research and development in durable high-performance biomaterials for these applications.
- Biodegradable-focus-winning preference: There is an increasing interest in the use of materials that would degrade naturally in the body over time, thus saving a second invasion to retrieve an implant. Biodegradable stent, suturing, and drug delivery systems are among the fastest-growing markets today. Eco-friendly and biodegradable-focused companies can establish themselves as leaders by winning the preference of healthcare providers and patients in their favor.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Biomaterials Devices 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 Biomaterials Devices 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
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.
Key players in this market are - Cargill Inc, Citromax Flavors Inc, Firmenich International SA, Frutarom Industries Ltd, Givaudan SA, International Flavors and Fragrances Inc, Kerry Group Plc, Sensient Technologies Corporation, Symrise AG
The market is expected to register a CAGR of 7.2% during 2023-2031
The drivers of the biomaterials devices market include the increasing prevalence of chronic diseases, technological advancements, an aging population, the demand for minimally invasive procedures, regulatory support, rising healthcare expenditure, and growing consumer awareness.
The future trends in the biomaterials devices market include personalized medicine, biodegradable and smart biomaterials, advancements in 3D printing, integration with digital health technologies, a focus on regenerative medicine, increased collaboration, and regulatory advancements.
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 Biomaterials Devices Market - By Type
1.3.2 Biomaterials Devices Market - By Application
1.3.3 Biomaterials Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIOMATERIALS DEVICES 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. BIOMATERIALS DEVICES 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. BIOMATERIALS DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. BIOMATERIALS DEVICES - GLOBAL MARKET OVERVIEW
6.2. BIOMATERIALS DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BIOMATERIALS DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. NATURAL BIOMATERIALS
7.3.1. Overview
7.3.2. Natural Biomaterials Market Forecast and Analysis
7.3.3. Silk Market
7.3.3.1. Overview
7.3.3.2. Silk Market Forecast and Analysis
7.3.4. Cellulose Market
7.3.4.1. Overview
7.3.4.2. Cellulose Market Forecast and Analysis
7.3.5. Collagen Market
7.3.5.1. Overview
7.3.5.2. Collagen Market Forecast and Analysis
7.3.6. Gelatin Market
7.3.6.1. Overview
7.3.6.2. Gelatin Market Forecast and Analysis
7.3.7. Chitin Market
7.3.7.1. Overview
7.3.7.2. Chitin Market Forecast and Analysis
7.3.8. Others Market
7.3.8.1. Overview
7.3.8.2. Others Market Forecast and Analysis
7.4. POLYMERS BIOMATERIALS
7.4.1. Overview
7.4.2. Polymers Biomaterials Market Forecast and Analysis
7.4.3. Silicon Rubber Market
7.4.3.1. Overview
7.4.3.2. Silicon Rubber Market Forecast and Analysis
7.4.4. Polymethylmethacrylate (PMMA) Market
7.4.4.1. Overview
7.4.4.2. Polymethylmethacrylate (PMMA) Market Forecast and Analysis
7.4.5. Polyester Market
7.4.5.1. Overview
7.4.5.2. Polyester Market Forecast and Analysis
7.4.6. Polyethylene Market
7.4.6.1. Overview
7.4.6.2. Polyethylene Market Forecast and Analysis
7.4.7. Others Market
7.4.7.1. Overview
7.4.7.2. Others Market Forecast and Analysis
7.5. CERAMIC BIOMATERIALS
7.5.1. Overview
7.5.2. Ceramic Biomaterials Market Forecast and Analysis
7.5.3. Calcium Phosphate Market
7.5.3.1. Overview
7.5.3.2. Calcium Phosphate Market Forecast and Analysis
7.5.4. Calcium Sulphate Market
7.5.4.1. Overview
7.5.4.2. Calcium Sulphate Market Forecast and Analysis
7.5.5. Others Market
7.5.5.1. Overview
7.5.5.2. Others Market Forecast and Analysis
7.6. METALLIC BIOMATERIALS
7.6.1. Overview
7.6.2. Metallic Biomaterials Market Forecast and Analysis
7.6.3. Cobalt-Chrome Alloy Market
7.6.3.1. Overview
7.6.3.2. Cobalt-Chrome Alloy Market Forecast and Analysis
7.6.4. Titanium Market
7.6.4.1. Overview
7.6.4.2. Titanium Market Forecast and Analysis
7.6.5. Stainless Steel Market
7.6.5.1. Overview
7.6.5.2. Stainless Steel Market Forecast and Analysis
7.6.6. Others Market
7.6.6.1. Overview
7.6.6.2. Others Market Forecast and Analysis
8. BIOMATERIALS DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ORTHOPEDIC
8.3.1. Overview
8.3.2. Orthopedic Market Forecast and Analysis
8.3.3. Join Replacement Market
8.3.3.1. Overview
8.3.3.2. Join Replacement Market Forecast and Analysis
8.3.4. Spine Market
8.3.4.1. Overview
8.3.4.2. Spine Market Forecast and Analysis
8.3.5. Fracture Fixation Market
8.3.5.1. Overview
8.3.5.2. Fracture Fixation Market Forecast and Analysis
8.3.6. Orthobiologics Market
8.3.6.1. Overview
8.3.6.2. Orthobiologics Market Forecast and Analysis
8.4. CARDIOVASCULAR
8.4.1. Overview
8.4.2. Cardiovascular Market Forecast and Analysis
8.4.3. Heart Valve Market
8.4.3.1. Overview
8.4.3.2. Heart Valve Market Forecast and Analysis
8.4.4. Stents Market
8.4.4.1. Overview
8.4.4.2. Stents Market Forecast and Analysis
8.4.5. Catheters Market
8.4.5.1. Overview
8.4.5.2. Catheters Market Forecast and Analysis
8.5. DENTAL
8.5.1. Overview
8.5.2. Dental Market Forecast and Analysis
8.6. OPHTHALMOLOGY
8.6.1. Overview
8.6.2. Ophthalmology Market Forecast and Analysis
8.7. TISSUE ENGINEERING
8.7.1. Overview
8.7.2. Tissue Engineering Market Forecast and Analysis
8.8. OTHER
8.8.1. Overview
8.8.2. Other Market Forecast and Analysis
9. BIOMATERIALS DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Biomaterials Devices Market Overview
9.1.2 North America Biomaterials Devices Market Forecasts and Analysis
9.1.3 North America Biomaterials Devices Market Forecasts and Analysis - By Type
9.1.4 North America Biomaterials Devices Market Forecasts and Analysis - By Application
9.1.5 North America Biomaterials Devices Market Forecasts and Analysis - By Countries
9.1.5.1 United States Biomaterials Devices Market
9.1.5.1.1 United States Biomaterials Devices Market by Type
9.1.5.1.2 United States Biomaterials Devices Market by Application
9.1.5.2 Canada Biomaterials Devices Market
9.1.5.2.1 Canada Biomaterials Devices Market by Type
9.1.5.2.2 Canada Biomaterials Devices Market by Application
9.1.5.3 Mexico Biomaterials Devices Market
9.1.5.3.1 Mexico Biomaterials Devices Market by Type
9.1.5.3.2 Mexico Biomaterials Devices Market by Application
9.2. EUROPE
9.2.1 Europe Biomaterials Devices Market Overview
9.2.2 Europe Biomaterials Devices Market Forecasts and Analysis
9.2.3 Europe Biomaterials Devices Market Forecasts and Analysis - By Type
9.2.4 Europe Biomaterials Devices Market Forecasts and Analysis - By Application
9.2.5 Europe Biomaterials Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Biomaterials Devices Market
9.2.5.1.1 Germany Biomaterials Devices Market by Type
9.2.5.1.2 Germany Biomaterials Devices Market by Application
9.2.5.2 France Biomaterials Devices Market
9.2.5.2.1 France Biomaterials Devices Market by Type
9.2.5.2.2 France Biomaterials Devices Market by Application
9.2.5.3 Italy Biomaterials Devices Market
9.2.5.3.1 Italy Biomaterials Devices Market by Type
9.2.5.3.2 Italy Biomaterials Devices Market by Application
9.2.5.4 Spain Biomaterials Devices Market
9.2.5.4.1 Spain Biomaterials Devices Market by Type
9.2.5.4.2 Spain Biomaterials Devices Market by Application
9.2.5.5 United Kingdom Biomaterials Devices Market
9.2.5.5.1 United Kingdom Biomaterials Devices Market by Type
9.2.5.5.2 United Kingdom Biomaterials Devices Market by Application
9.2.5.6 Rest of Europe Biomaterials Devices Market
9.2.5.6.1 Rest of Europe Biomaterials Devices Market by Type
9.2.5.6.2 Rest of Europe Biomaterials Devices Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Biomaterials Devices Market Overview
9.3.2 Asia-Pacific Biomaterials Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Biomaterials Devices Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Biomaterials Devices Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Biomaterials Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Biomaterials Devices Market
9.3.5.1.1 Australia Biomaterials Devices Market by Type
9.3.5.1.2 Australia Biomaterials Devices Market by Application
9.3.5.2 China Biomaterials Devices Market
9.3.5.2.1 China Biomaterials Devices Market by Type
9.3.5.2.2 China Biomaterials Devices Market by Application
9.3.5.3 India Biomaterials Devices Market
9.3.5.3.1 India Biomaterials Devices Market by Type
9.3.5.3.2 India Biomaterials Devices Market by Application
9.3.5.4 Japan Biomaterials Devices Market
9.3.5.4.1 Japan Biomaterials Devices Market by Type
9.3.5.4.2 Japan Biomaterials Devices Market by Application
9.3.5.5 South Korea Biomaterials Devices Market
9.3.5.5.1 South Korea Biomaterials Devices Market by Type
9.3.5.5.2 South Korea Biomaterials Devices Market by Application
9.3.5.6 Rest of Asia-Pacific Biomaterials Devices Market
9.3.5.6.1 Rest of Asia-Pacific Biomaterials Devices Market by Type
9.3.5.6.2 Rest of Asia-Pacific Biomaterials Devices Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Biomaterials Devices Market Overview
9.4.2 Middle East and Africa Biomaterials Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Biomaterials Devices Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Biomaterials Devices Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Biomaterials Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Biomaterials Devices Market
9.4.5.1.1 South Africa Biomaterials Devices Market by Type
9.4.5.1.2 South Africa Biomaterials Devices Market by Application
9.4.5.2 Saudi Arabia Biomaterials Devices Market
9.4.5.2.1 Saudi Arabia Biomaterials Devices Market by Type
9.4.5.2.2 Saudi Arabia Biomaterials Devices Market by Application
9.4.5.3 U.A.E Biomaterials Devices Market
9.4.5.3.1 U.A.E Biomaterials Devices Market by Type
9.4.5.3.2 U.A.E Biomaterials Devices Market by Application
9.4.5.4 Rest of Middle East and Africa Biomaterials Devices Market
9.4.5.4.1 Rest of Middle East and Africa Biomaterials Devices Market by Type
9.4.5.4.2 Rest of Middle East and Africa Biomaterials Devices Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Biomaterials Devices Market Overview
9.5.2 South and Central America Biomaterials Devices Market Forecasts and Analysis
9.5.3 South and Central America Biomaterials Devices Market Forecasts and Analysis - By Type
9.5.4 South and Central America Biomaterials Devices Market Forecasts and Analysis - By Application
9.5.5 South and Central America Biomaterials Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Biomaterials Devices Market
9.5.5.1.1 Brazil Biomaterials Devices Market by Type
9.5.5.1.2 Brazil Biomaterials Devices Market by Application
9.5.5.2 Argentina Biomaterials Devices Market
9.5.5.2.1 Argentina Biomaterials Devices Market by Type
9.5.5.2.2 Argentina Biomaterials Devices Market by Application
9.5.5.3 Rest of South and Central America Biomaterials Devices Market
9.5.5.3.1 Rest of South and Central America Biomaterials Devices Market by Type
9.5.5.3.2 Rest of South and Central America Biomaterials Devices Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL BIOMATERIALS DEVICES 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. BIOMATERIALS DEVICES MARKET, KEY COMPANY PROFILES
12.1. CORBION N.V.
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. INVIBIO LTD.
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. CAM BIOCERAMICS B.V.
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. EVONIK INDUSTRIES AG
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. CELANESE CORPORATION
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. BASF SE
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. BERKELEY ADVANCED
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. BIOMATERIALS, INC.
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. COLLAGEN MATRIX, INC.
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. ZIMMER BIOMET HOLDINGS, INC.
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
12.11. CARPENTER TECHNOLOGY CORPORATION
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Corbion N.V.
2. Invibio Ltd.
3. CAM Bioceramics B.V.
4. Evonik Industries AG
5. Celanese Corporation
6. BASF SE
7. Berkeley Advanced Biomaterials, Inc.
8. Collagen Matrix, Inc.
9. Zimmer Biomet Holdings, Inc.
10. Carpenter Technology Corporation
11. Coorstek, Inc.
12. RDI Group
13. Artoss, Inc.
14. Dimension Inc.
15. Berkeley Advanced Biomaterials
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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