Endotherapy Devices Market Key Findings by 2031
The endotherapy devices market was valued at US$ 4,218.9 million in 2021 and is likely to reach US$ 6,494.4 million by 2031; it is expected to grow at a CAGR of 6.4% between 2022 and 2031.
Endotherapy is a therapeutic technique involving an endoscope to localize the intervention to a location inside the body. These devices refer to the devices that are planned to be inserted into the body during endoscopic procedures. These devices are increasingly used in the surgical interventions performed to examine abdominal pain, ulcers, digestive tract bleeding, or abnormal growths in abdominal.
MARKET DYNAMICS
The rising incidence of gastrointestinal diseases, including constipation, IBS, hemorrhoids, and internal hemorrhoids, and increasing geriatric population are boosting the endotherapy devices market growth. In the US, irritable bowel syndrome (IBS) is common and affects about 5% of the population (about 1 in 20 people). Furthermore, in the country, constipation is the most common gastrointestinal complaint affecting 4 million people and resulting in 2.5 million doctor visits annually. Additionally, increasing preference for minimally invasive procedures and technological advancements are expected to create lucrative opportunities for the market in the coming years. However, the high cost of endotherapy devices and the lack of skilled technicians hamper the market growth.
MARKET SCOPE
The "Global Endotherapy Devices Market Analysis to 2031" report aims to provide an overview of the endotherapy devices market with detailed market segmentation based on product, application, and end user. The report provides key statistics based on the financial performances of the leading market players. It also offers key trends and opportunities in the endotherapy devices market.
Strategic Insights
MARKET SEGMENTATION
The global endotherapy devices market is segmented on the basis of product, application, and end user. Based on product, the market is segmented into gastrointestinal (GI) devices & accessories, endoscopic retrograde cholangio pancreatography (ERCP) devices & accessories, and others. By application, the market is segmented into bronchoscopy, arthroscopy, laparoscopy, urology endoscopy, neuroendoscopy, gastrointestinal endoscopy, and other. Based on end user, the market is segmented into hospitals, clinics, and others.
Based on region, the global endotherapy devices market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trend and opportunities prevailing in the region.
From the regional perspective, North America dominates the endotherapy devices market. The market growth in the region is majorly driven by the growing technological advancements, rising incidence of gastrointestinal cancer, growing regulatory approvals for endotherapy devices, and slow surging geriatric population across the US. According to the American Cancer Society’s 2022 estimates, in the US, ~ 26,380 new gastric cancer cases and around 11,090 deaths due to the disease are expected to occur in the subsequent year. Additionally, in the country, every year, gastric cancer accounts for around 1.5% of all new diagnosed cancer cases. Thus, the rise in incidence of gastric cancer and gastrointestinal conditions is anticipated to propel the adoption of endotherapy devices in the country during the forecast period.
The below figure shows the revenue growth trend in the North American endotherapy devices market:
The report analyses factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the endotherapy devices market. The report also provides PEST analysis highlighting the factors affecting the endotherapy devices market in these regions.
IMPACT OF COVID-19 PANDEMIC
The highest number of deaths due to COVID-19 was recorded in the North America, followed by Europe and Southeast Asia. During COVID-19 outbreak, hospital admissions and services were offered to COVID-19 affected patients on a priority basis. As a result, multiple medical procedures, including gastrointestinal endoscopy, were delayed across various countries. A similar scenario was witnessed in the UK, with the COVID-19 pandemic and subsequent lockdown affecting the ERCP & endoscopic procedural volume. Thus, the fewer procedural volume adversely affected the adoption of endotherapy devices, particularly during the pandemic in 2021. Thus, the COVID-19 pandemic negatively impacted the endotherapy devices market.
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Based on region, the global endotherapy devices market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trend and opportunities prevailing in the region.
From the regional perspective, North America dominates the endotherapy devices market. The market growth in the region is majorly driven by the growing technological advancements, rising incidence of gastrointestinal cancer, growing regulatory approvals for endotherapy devices, and slow surging geriatric population across the US. According to the American Cancer Society’s 2022 estimates, in the US, ~ 26,380 new gastric cancer cases and around 11,090 deaths due to the disease are expected to occur in the subsequent year. Additionally, in the country, every year, gastric cancer accounts for around 1.5% of all new diagnosed cancer cases. Thus, the rise in incidence of gastric cancer and gastrointestinal conditions is anticipated to propel the adoption of endotherapy devices in the country during the forecast period.
The below figure shows the revenue growth trend in the North American endotherapy devices market:
The report analyses factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the endotherapy devices market. The report also provides PEST analysis highlighting the factors affecting the endotherapy devices market in these regions.
IMPACT OF COVID-19 PANDEMIC
The highest number of deaths due to COVID-19 was recorded in the North America, followed by Europe and Southeast Asia. During COVID-19 outbreak, hospital admissions and services were offered to COVID-19 affected patients on a priority basis. As a result, multiple medical procedures, including gastrointestinal endoscopy, were delayed across various countries. A similar scenario was witnessed in the UK, with the COVID-19 pandemic and subsequent lockdown affecting the ERCP & endoscopic procedural volume. Thus, the fewer procedural volume adversely affected the adoption of endotherapy devices, particularly during the pandemic in 2021. Thus, the COVID-19 pandemic negatively impacted the endotherapy devices market.
MARKET PLAYERS
The report covers key developments in the endotherapy devices market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. In addition, acquisitions, and partnership & collaborations are among the inorganic growth strategies witnessed in the market. These activities have paved way for expansion of business and customer base of market players. The players operating in the endotherapy devices market are anticipated to experience lucrative growth opportunities in the future due to the rising demand for endotherapy devices.
The report also includes the profiles of key endotherapy devices market companies along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players with information, such as company profiles, components and services offered, financial information of last three years, and key development in past five years.
- Boston Scientific Corporation
- CONMED Corporation
- FUJIFILM Holdings Corporation
- HOYA Corporation
- Johnson & Johnson
- KARL STORZ GmbH & Co KG
- Medtronic Plc.
- Olympus Corporation
- Stryker Corporation
- Smith & Nephew Plc.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
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 Endotherapy Devices Market - By Product
1.3.2 Endotherapy Devices Market - By Application
1.3.3 Endotherapy Devices Market - By End User
1.3.4 Endotherapy Devices Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ENDOTHERAPY 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. ENDOTHERAPY 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ENDOTHERAPY DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. ENDOTHERAPY DEVICES - GLOBAL MARKET OVERVIEW
6.2. ENDOTHERAPY DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ENDOTHERAPY DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. GI DEVICES AND ACCESSORIES
7.3.1. Overview
7.3.2. GI Devices and Accessories Market Forecast and Analysis
7.3.3. Biopsy Forceps Market
7.3.3.1. Overview
7.3.3.2. Biopsy Forceps Market Forecast and Analysis
7.3.4. Injection Needles Market
7.3.4.1. Overview
7.3.4.2. Injection Needles Market Forecast and Analysis
7.3.5. Polypectomy snares Market
7.3.5.1. Overview
7.3.5.2. Polypectomy snares Market Forecast and Analysis
7.3.6. Graspers Market
7.3.6.1. Overview
7.3.6.2. Graspers Market Forecast and Analysis
7.3.7. Hemoclips Market
7.3.7.1. Overview
7.3.7.2. Hemoclips 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. ERCP DEVICES
7.4.1. Overview
7.4.2. ERCP Devices Market Forecast and Analysis
7.4.3. Guidewires Market
7.4.3.1. Overview
7.4.3.2. Guidewires Market Forecast and Analysis
7.4.4. Sphincterotome Market
7.4.4.1. Overview
7.4.4.2. Sphincterotome Market Forecast and Analysis
7.4.5. Catheter Market
7.4.5.1. Overview
7.4.5.2. Catheter Market Forecast and Analysis
7.4.6. Extraction Balloon Market
7.4.6.1. Overview
7.4.6.2. Extraction Balloon Market Forecast and Analysis
7.4.7. Balloon Dilators Market
7.4.7.1. Overview
7.4.7.2. Balloon Dilators Market Forecast and Analysis
7.4.8. Plastic Stent Market
7.4.8.1. Overview
7.4.8.2. Plastic Stent Market Forecast and Analysis
7.4.9. Metal Stent Market
7.4.9.1. Overview
7.4.9.2. Metal Stent Market Forecast and Analysis
7.4.10. Others Market
7.4.10.1. Overview
7.4.10.2. Others Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
7.5.3. Mouthpiece Market
7.5.3.1. Overview
7.5.3.2. Mouthpiece Market Forecast and Analysis
7.5.4. Distal End Cap Market
7.5.4.1. Overview
7.5.4.2. Distal End Cap Market Forecast and Analysis
7.5.5. Polyp Trap Market
7.5.5.1. Overview
7.5.5.2. Polyp Trap Market Forecast and Analysis
7.5.6. Cleaning Brush Market
7.5.6.1. Overview
7.5.6.2. Cleaning Brush Market Forecast and Analysis
7.5.7. Others Market
7.5.7.1. Overview
7.5.7.2. Others Market Forecast and Analysis
8. ENDOTHERAPY DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BRONCHOSCOPY
8.3.1. Overview
8.3.2. Bronchoscopy Market Forecast and Analysis
8.4. ARTHROSCOPY
8.4.1. Overview
8.4.2. Arthroscopy Market Forecast and Analysis
8.5. LAPAROSCOPY
8.5.1. Overview
8.5.2. Laparoscopy Market Forecast and Analysis
8.6. UROLOGY ENDOTHERAPY
8.6.1. Overview
8.6.2. Urology Endotherapy Market Forecast and Analysis
8.7. NEUROENDOSCOPY
8.7.1. Overview
8.7.2. Neuroendoscopy Market Forecast and Analysis
8.8. GASTROINTESTINAL ENDOSCOPY
8.8.1. Overview
8.8.2. Gastrointestinal Endoscopy Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. ENDOTHERAPY DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITAL
9.3.1. Overview
9.3.2. Hospital Market Forecast and Analysis
9.4. CLINIC
9.4.1. Overview
9.4.2. Clinic Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. ENDOTHERAPY DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Endotherapy Devices Market Overview
10.1.2 North America Endotherapy Devices Market Forecasts and Analysis
10.1.3 North America Endotherapy Devices Market Forecasts and Analysis - By Product
10.1.4 North America Endotherapy Devices Market Forecasts and Analysis - By Application
10.1.5 North America Endotherapy Devices Market Forecasts and Analysis - By End User
10.1.6 North America Endotherapy Devices Market Forecasts and Analysis - By Countries
10.1.6.1 United States Endotherapy Devices Market
10.1.6.1.1 United States Endotherapy Devices Market by Product
10.1.6.1.2 United States Endotherapy Devices Market by Application
10.1.6.1.3 United States Endotherapy Devices Market by End User
10.1.6.2 Canada Endotherapy Devices Market
10.1.6.2.1 Canada Endotherapy Devices Market by Product
10.1.6.2.2 Canada Endotherapy Devices Market by Application
10.1.6.2.3 Canada Endotherapy Devices Market by End User
10.1.6.3 Mexico Endotherapy Devices Market
10.1.6.3.1 Mexico Endotherapy Devices Market by Product
10.1.6.3.2 Mexico Endotherapy Devices Market by Application
10.1.6.3.3 Mexico Endotherapy Devices Market by End User
10.1.6.4 US Endotherapy Devices Market
10.1.6.4.1 US Endotherapy Devices Market by Product
10.1.6.4.2 US Endotherapy Devices Market by Application
10.1.6.4.3 US Endotherapy Devices Market by End User
10.2. EUROPE
10.2.1 Europe Endotherapy Devices Market Overview
10.2.2 Europe Endotherapy Devices Market Forecasts and Analysis
10.2.3 Europe Endotherapy Devices Market Forecasts and Analysis - By Product
10.2.4 Europe Endotherapy Devices Market Forecasts and Analysis - By Application
10.2.5 Europe Endotherapy Devices Market Forecasts and Analysis - By End User
10.2.6 Europe Endotherapy Devices Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Endotherapy Devices Market
10.2.6.1.1 Germany Endotherapy Devices Market by Product
10.2.6.1.2 Germany Endotherapy Devices Market by Application
10.2.6.1.3 Germany Endotherapy Devices Market by End User
10.2.6.2 France Endotherapy Devices Market
10.2.6.2.1 France Endotherapy Devices Market by Product
10.2.6.2.2 France Endotherapy Devices Market by Application
10.2.6.2.3 France Endotherapy Devices Market by End User
10.2.6.3 Italy Endotherapy Devices Market
10.2.6.3.1 Italy Endotherapy Devices Market by Product
10.2.6.3.2 Italy Endotherapy Devices Market by Application
10.2.6.3.3 Italy Endotherapy Devices Market by End User
10.2.6.4 Spain Endotherapy Devices Market
10.2.6.4.1 Spain Endotherapy Devices Market by Product
10.2.6.4.2 Spain Endotherapy Devices Market by Application
10.2.6.4.3 Spain Endotherapy Devices Market by End User
10.2.6.5 United Kingdom Endotherapy Devices Market
10.2.6.5.1 United Kingdom Endotherapy Devices Market by Product
10.2.6.5.2 United Kingdom Endotherapy Devices Market by Application
10.2.6.5.3 United Kingdom Endotherapy Devices Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Endotherapy Devices Market Overview
10.3.2 Asia-Pacific Endotherapy Devices Market Forecasts and Analysis
10.3.3 Asia-Pacific Endotherapy Devices Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Endotherapy Devices Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Endotherapy Devices Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Endotherapy Devices Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Endotherapy Devices Market
10.3.6.1.1 Australia Endotherapy Devices Market by Product
10.3.6.1.2 Australia Endotherapy Devices Market by Application
10.3.6.1.3 Australia Endotherapy Devices Market by End User
10.3.6.2 China Endotherapy Devices Market
10.3.6.2.1 China Endotherapy Devices Market by Product
10.3.6.2.2 China Endotherapy Devices Market by Application
10.3.6.2.3 China Endotherapy Devices Market by End User
10.3.6.3 India Endotherapy Devices Market
10.3.6.3.1 India Endotherapy Devices Market by Product
10.3.6.3.2 India Endotherapy Devices Market by Application
10.3.6.3.3 India Endotherapy Devices Market by End User
10.3.6.4 Japan Endotherapy Devices Market
10.3.6.4.1 Japan Endotherapy Devices Market by Product
10.3.6.4.2 Japan Endotherapy Devices Market by Application
10.3.6.4.3 Japan Endotherapy Devices Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Endotherapy Devices Market Overview
10.4.2 Middle East and Africa Endotherapy Devices Market Forecasts and Analysis
10.4.3 Middle East and Africa Endotherapy Devices Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Endotherapy Devices Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Endotherapy Devices Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Endotherapy Devices Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Endotherapy Devices Market
10.4.6.1.1 South Africa Endotherapy Devices Market by Product
10.4.6.1.2 South Africa Endotherapy Devices Market by Application
10.4.6.1.3 South Africa Endotherapy Devices Market by End User
10.4.6.2 Saudi Arabia Endotherapy Devices Market
10.4.6.2.1 Saudi Arabia Endotherapy Devices Market by Product
10.4.6.2.2 Saudi Arabia Endotherapy Devices Market by Application
10.4.6.2.3 Saudi Arabia Endotherapy Devices Market by End User
10.4.6.3 U.A.E Endotherapy Devices Market
10.4.6.3.1 U.A.E Endotherapy Devices Market by Product
10.4.6.3.2 U.A.E Endotherapy Devices Market by Application
10.4.6.3.3 U.A.E Endotherapy Devices Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Endotherapy Devices Market Overview
10.5.2 South and Central America Endotherapy Devices Market Forecasts and Analysis
10.5.3 South and Central America Endotherapy Devices Market Forecasts and Analysis - By Product
10.5.4 South and Central America Endotherapy Devices Market Forecasts and Analysis - By Application
10.5.5 South and Central America Endotherapy Devices Market Forecasts and Analysis - By End User
10.5.6 South and Central America Endotherapy Devices Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Endotherapy Devices Market
10.5.6.1.1 Brazil Endotherapy Devices Market by Product
10.5.6.1.2 Brazil Endotherapy Devices Market by Application
10.5.6.1.3 Brazil Endotherapy Devices Market by End User
10.5.6.2 Argentina Endotherapy Devices Market
10.5.6.2.1 Argentina Endotherapy Devices Market by Product
10.5.6.2.2 Argentina Endotherapy Devices Market by Application
10.5.6.2.3 Argentina Endotherapy Devices Market by End User
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. ENDOTHERAPY DEVICES MARKET, KEY COMPANY PROFILES
12.1. STRYKER CORPORATION
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. MEDTRONIC PLC
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. OLYMPUS CORPORATION
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. HOYA CORPORATION
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. FUJIFILM HOLDINGS 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. CONMED CORPORATION
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. BOSTON SCIENTIFIC CORPORATION
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. SMITH & NEPHEW PLC
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. KARL STORZ GMBH & CO KG
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. JOHNSON & JOHNSON
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
- Stryker Corporation
- Medtronic Plc.
- Olympus Corporation
- HOYA Corporation
- FUJIFILM Holdings Corporation
- CONMED Corporation
- Boston Scientific Corporation
- Smith & Nephew Plc.
- KARL STORZ GmbH & Co KG
- Johnson & Johnson
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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