Europe Dermatology Treatment Devices Market to Grow at a CAGR of 6.2% to reach US$ 2,198.26 Million from 2020 to 2027
The Europe dermatology treatment devices market is expected to reach US$ 2,198.26million in 2027 from US$ 1,380.20million in 2019. The market is estimated to grow with a CAGR of 6.2% from 2020-2027.
Dermatology is a medical field engaged in the diagnosis, prevention, and treatment of various diseases related to nails, skin, and hair, such as pigmentation, acne, wrinkles, and psoriasis. Dermatology is a specialty in both surgical and medical aspects.The devices are used to treat skin conditions and are also employed to prevent certain skin disorders. Major devices used for derma treatments are lasers, light therapy devices, cryotherapy devices, microdermabrasion devices, and energy-based therapies devices, micro needling among others. The scope of the dermatology treatment devices market includes product, application, end-user, and region.
Germany Dermatology Treatment Devices Market Revenue and Forecasts to 2027 (US$ MN)
Market Insights
Rising Geriatric Population across Europe
The aging population are looking to minimize the effects of aging on their skin, younger consumers looking for preventative measures against the impact of pollution and frequent sun exposure, the expansion of premium sales channels; and the acceleration of product knowledge through social media are the factors which are likely to offer lucrative opportunities. In SPAin, dermatology and skincare clinics have some of the latest anti-aging technological devices for diagnosis and treatments, including analyzing biological cellular age through the study of telomeres. Non-surgical anti-age treatments such as lasers, light therapy devices, cryotherapy devices, or non-surgical procedures such as injectable face fillers which can achieve a natural look and allows the patient to retain their facial expression with surprisingly long-lasting results. On the other hand, France is experiencing a rise in the aging population, which is expected to offer wider market growth opportunities. Among older people, skin tightening, facelift, and laser treatment are commonly seen. Thus it is expected to influence the market growth in France during the forecast period. Also, anti-aging is the most prominent facial care area, and it is expected to remain a hot topic in Italy, with consumers strongly desiring a youthful look at all ages and being interested in trying out the latest innovations in this area, with a particular interest in products that simulate the results of dermatology. Thus, the rising geriatric population across Europe is generating lucrative opportunities for the market growth.
Product- Based Market Insights
Based on product, the dermatology treatment devices market is segmented into lasers, light therapy devices, cryotherapy devices, microdermabrasion devices, energy-based therapy devices, and microneedling. The lasers segment held the largest share of the market in 2019, whereas the light therapy devices segment is anticipated to register the highest CAGR in the market during the forecast period.
Europe Dermatology Treatment Devices Market, by Product– 2019 and 2027
Application- Based Market Insights
Based on application, the dermatology treatment devices market, is segmented into skin resurfacing, skin rejuvenation, hair removal, psoriasis, scars, warts and skin tags, hyperpigmentation and vascular lesions, acne, tattoo removal, and hyperhidrosis. The skin rejuvenation segment held the largest share of the market in 2019, whereas the hair removal segment is anticipated to register the highest CAGR in the market during the forecast period.
End-User - Based Market Insights
Based on end-user, the dermatology treatment devices market, is segmented into hospitals, SPA clinics, dermatology clinics, and surgical centers. The dermatology clinics segment held the largest share of the market in 2019, also the same segment is anticipated to register the highest CAGR in the market during the forecast period.
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Europe Dermatology Treatment Devices Market: Strategic Insights
Market Size Value in US$ 1,380.20Million in 2019 Market Size Value by US$ 2,198.26Million by 2027 Growth rate CAGR of 6.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Europe Dermatology Treatment Devices Market: Strategic Insights
| Market Size Value in | US$ 1,380.20Million in 2019 |
| Market Size Value by | US$ 2,198.26Million by 2027 |
| Growth rate | CAGR of 6.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Product launches and approvals are commonly adopted strategies by companies to expand their footprint worldwide and meet the growing demand. The players operating in the dermatology treatment devices market adopt the expansion, collaboration, and product launch strategies to enlarge customer base across the world. These strategies allow the players to maintain their brand name globally. For instance, Sciton Inc. has launched, BBL HERO – game changing technology. The launch of new products includes mJOULE, an incredible new fractional treatment, with BBL HERO, the biggest advancement in the history of pulsed light-based technology.
EUROPE DERMATOLOGY TREATMENT DEVICES MARKET SEGMENTATION
- Lasers
- Light Therapy Devices
- Cryotherapy Devices
- Microdermabrasion Devices
- Energy-Based Therapy Devices
- Microneedling
- Skin Resurfacing
- Skin Rejuvenation
- Hair Removal
- Psoriasis
- Scars
- Warts and Skin Tags
- Hyperpigmentation and Vascular Lesions
- Acne
- Tattoo Removal
- Hyperhidrosis
- Hospitals
- SPA Clinics
- Dermatology Clinics
- Surgical Centers
By Country
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Company Profiles
- Cutera Inc.
- Bausch Health Companies Inc.
- BIOFRONTERA AG
- Avita Medical
- Sciton, Inc.
- Lumenis
- Alma Lasers
- Candela Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
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 Dermatology Treatment Devices Market – By Product
1.3.2 Dermatology Treatment Devices Market – By Application
1.3.3 Dermatology Treatment Devices Market – By End User
1.3.4 Europe Dermatology Treatment Devices Market – By Country
2. Europe Dermatology Treatment Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Dermatology Treatment Devices Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Dermatology Treatment Devices Market- Europe PEST Analysis
4.3 Expert Opinion
5. Europe Dermatology Treatment Devices Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Prevalence of Diseases Associated with Skin
5.1.2 Rising Investments in Research & Development
5.2 Market Restraint
5.2.1 Negative Consequences of Dermatology Treatment Devices
5.3 Market Opportunity
5.3.1 Rising Geriatric Population across Europe
5.4 Future Trend
5.4.1 Increasing Awareness about Cosmetic Procedures
5.5 Impact Analysis
6. Dermatology Treatment Devices Market – Europe Analysis
6.1 Europe Dermatology Treatment Devices Market Revenue Forecasts and Analysis
7. Europe Dermatology Treatment Devices Market Analysis and Forecasts To 2027 – By Product
7.1 Overview
7.2 Dermatology Treatment Devices Market Revenue Share, by Product (2019 and 2027)
7.3 Lasers
7.3.1 Overview
7.3.2 Lasers: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Light Therapy Devices
7.4.1 Overview
7.4.2 Light Therapy Devices: Beauty Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Cryotherapy Devices
7.5.1 Overview
7.5.2 Cryotherapy Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Microdermabrasion Devices
7.6.1 Overview
7.6.2 Microdermabrasion Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Energy-Based Therapies Devices
7.7.1 Overview
7.7.2 Energy-Based Therapies Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Microneedling
7.8.1 Overview
7.8.2 Microneedling: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8. Europe Dermatology Treatment Devices Market Analysis – By Application
8.1 Overview
8.2 Dermatology Treatment Devices Market Revenue Share, by Application (2019 and 2027)
8.3 Skin Resurfacing
8.3.1 Overview
8.3.2 Skin Resurfacing: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Skin Rejuvenation Devices
8.4.1 Overview
8.4.2 Skin Rejuvenation Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Hair Removal
8.5.1 Overview
8.5.2 Hair Removal: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Psoriasis
8.6.1 Overview
8.6.2 Psoriasis: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Scar
8.7.1 Overview
8.7.2 Scar : Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Warts and Skin Tags
8.8.1 Overview
8.8.2 Warts and Skin Tags: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.9 Hyperpigmentation and Vascular Lesions
8.9.1 Overview
8.9.2 Hyperpigmentation and Vascular Lesions: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.10 Acne
8.10.1 Overview
8.10.2 Acne: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.11 Tattoo Removal
8.11.1 Overview
8.11.2 Tattoo Removal: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
8.12 Hyperhidrosis
8.12.1 Overview
8.12.2 Hyperhidrosis: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
9. Europe Dermatology Treatment Devices Market Analysis – By End-User
9.1 Overview
9.2 Dermatology Treatment Devices Market, by End-User, 2019 and 2027 (%)
9.3 Hospital
9.3.1 Overview
9.3.2 Hospital: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
9.4 SPA Clinics
9.4.1 Overview
9.4.2 SPA Clinics: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Dermatology Clinics
9.5.1 Overview
9.5.2 Dermatology Clinics: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
9.6 Surgical Centers
9.6.1 Overview
9.6.2 Surgical Centers: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
10. Dermatology Treatment Devices Market Revenue and Forecasts To 2027 – Geographical Analysis
10.1 Europe: Dermatology Treatment Devices Market
10.1.1 Overview
10.1.2 Europe: Dermatology Treatment Devices Market, - Revenue and Forecast to 2027 (USD Million)
10.1.3 Europe: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.4 Europe: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.5 Europe: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.6 Europe: Dermatology Treatment Devices Market, by Country, 2019 & 2027 (%)
10.1.7 Germany: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.1 Germany: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.7.2 Germany: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.7.3 Germany: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.7.4 Germany: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.8 UK: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.1 UK: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.8.2 UK: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.8.3 UK: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.8.4 UK: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.9 France: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.1 France: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.9.2 France: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.9.3 France: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.9.4 France: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.10 Italy: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.1 Italy: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.10.2 Italy: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.10.3 Italy: Dermatology Treatment Devices Market, by Procedure – Revenue and Forecast to 2027 (USD Million)
10.1.10.4 Italy: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.11 Spain: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.11.1 Spain: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.11.2 Spain: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.11.3 Spain: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.11.4 Spain: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
10.1.12 Rest of Europe: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.12.1 Rest of Europe: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
10.1.12.2 Rest of Europe: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
10.1.12.3 Rest of Europe: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
10.1.12.4 Rest of Europe: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
11. Impact Of COVID-19 Pandemic on Europe Dermatology Treatment Devices Market
11.1 Europe: Impact Assessment of COVID-19 Pandemic
12. COMPANY PROFILES
12.1 Cutera 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 Bausch Health Companies 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 BIOFRONTERA AG
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 Avita Medical
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
Source: Press Release, Newsletters, and Company Annual Report
13. Appendix
13.1 About the Insight Partners
13.2 Glossary of terms
LIST OF TABLES
Table 1. Europe: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 2. Europe: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 3. Europe: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 4. Germany: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 5. Germany: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 6. Germany: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 7. UK: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 8. UK: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 9. UK: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 10. France: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 11. France: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 12. France: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 13. Italy: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 14. Italy: Dermatology Treatment Devices Market, by Procedure – Revenue and Forecast to 2027 (USD Million)
Table 15. Italy: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 16. Spain: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 17. Spain: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 18. Spain: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 19. Rest of Europe: Dermatology Treatment Devices Market, by Product – Revenue and Forecast to 2027 (USD Million)
Table 20. Rest of Europe: Dermatology Treatment Devices Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 21. Rest of Europe: Dermatology Treatment Devices Market, by End User – Revenue and Forecast to 2027 (USD Million)
Table 22. Glossary of Terms, Dermatology Treatment Devices Market
LIST OF FIGURES
Figure 1. Dermatology Treatment Devices Market Segmentation
Figure 2. Europe Dermatology Treatment Devices Market Overview
Figure 3. Lasers Segment Held Largest Share of Product in Dermatology Treatment Devices Market
Figure 4. Germany is Expected to Show Remarkable Growth During the Forecast Period
Figure 5. Dermatology Treatment Devices Market - Europe PEST Analysis
Figure 6. Dermatology Treatment Devices Market Impact Analysis of Driver and Restraints
Figure 7. Europe Dermatology Treatment Devices Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 8. Dermatology Treatment Devices Market Revenue Share, by Product (2019 and 2027)
Figure 9. Lasers: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Light Therapy Devices: Beauty Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. Cryotherapy Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. Microdermabrasion Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. Energy-Based Therapies Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Microneedling: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Dermatology Treatment Devices Market Revenue Share, by Application (2019 and 2027)
Figure 16. Skin Resurfacing: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Skin Rejuvenation Devices: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Hair Removal: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Psoriasis: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Scar: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. Warts and Skin Tags: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Hyperpigmentation and Vascular Lesions: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Acne: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Tattoo Removal: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Hyperhidrosis: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Dermatology Treatment Devices Market, by End-User, 2019 and 2027 (%)
Figure 27. Hospital: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. SPA Clinics: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Dermatology Clinics: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Surgical Centers: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Europe: Dermatology Treatment Devices Market, by Key Country – Revenue (2019) (USD Million)
Figure 32. Europe: Dermatology Treatment Devices Market, Revenue and Forecast to 2027 (USD Million)
Figure 33. Europe: Dermatology Treatment Devices Market, by Country, 2019 & 2027 (%)
Figure 34. Germany: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 35. UK: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. France: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 37. Italy: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 38. Spain: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 39. Rest of Europe: Dermatology Treatment Devices Market – Revenue and Forecast to 2027 (USD Million)
Figure 40. Impact of COVID-19 Pandemic in European Country Markets
- Cutera Inc.
- Bausch Health Companies Inc.
- BIOFRONTERA AG
- Avita Medical
- Sciton, Inc.
- Lumenis
- Alma Lasers
- Candela Corporation
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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