Femtech Market Key Findings by 2031
The femtech market is expected to grow from US$ 12.65 billion in 2022 to US$ 22.29 billion by 2031, with an estimated CAGR of 9.9% from 2022 to 2031.
The demand for medical devices used in the female health industry has been flourishing rapidly. The demand for technologically advanced femtech products has been substantially growing. The global femtech industry players are experiencing higher demand for medical devices post-pandemic. Growing availability of smart wearable devices and rising government initiatives to raise awareness about women's health will foster the global femtech market growth through 2031.
Health tech developers and investors are capitalizing on untapped opportunities and funding innovative product development strategies to address women's health issues.
Key Development Trends:
- In 2021, HeraMED announced a partnership with eCare21, a leading virtual care platform, to integrate its heartCARE & heartBEAT products with the eCare21 platform. This has enhanced the product portfolio and development capabilities of the firm.
- In 2021, according to McKinsey Insights, around 45 to 50 new women's health start-ups were founded, and these start-ups raised approximately US$ 2.5 billion in 2021–2021.
- Digital health start-ups focused on women observed an increase in funding by around 105% in 2021. This signifies growth in the FemTech market, thereby presenting potential growth opportunities for businesses in the coming years.
- In 2021, Grove collaborative acquired Sustain Natural, a leading company in natural sexual wellness products. This strategy fortified the firm's product portfolio and market position.
Manufacturers of smart wearable devices and developers of advanced mobile applications are integrating their innovative product development strategies to efficiently utilize resources serving women's health needs. Through these applications and devices (wearable and nonwearable), female users can easily track their health & wellbeing, receive informational content on multiple health queries, and actively engage with female communities or healthcare professionals. For instance, in July 2021, the US FDA approved and gave clearance to Natural Cycles to use body temperature data readings collected by smart wearables, such as Oura smart ring, for assessing a woman's fertility and managing pregnancy. Thus, this parameter has been bolstering the growth of the Femtech market in the current scenario.
MARKET DYNAMICS
Demand for femtech products owing to the high prevalence of chronic and infectious diseases among women for precise diagnostics and treatment spurs the market growth. Advancements in women's health products such as fitness trackers, wearables, exercise products, and women's hygiene products will influence the market expansion. Innovation through smart medical products is driving the market. The companies are mainly focusing on the development of ground-breaking solutions for female health and wellness. The products assist women's health during pregnancy by using technological solutions. Competitive leaders investing iadvanced technology are offering diverse products for major applications.
MARKET SCOPE
The "Global Femtech Market Analysis to 2031" is a specialized and in-depth study of the Femtech market with a special focus on the global market trend analysis. The report aims to provide an overview of the Femtech market with detailed market segmentation by type, application, and end user. The global Femtech market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the femtech market.
Strategic Insights
MARKET SEGMENTATION
The global Femtech market is segmented based on type, procedure, and application. Based on type, the market is segmented into devices, software, and services. In terms of application, the market is segmented into reproductive health, pregnancy and nursing care, pelvic and uterine healthcare, and general healthcare & wellness. Further, based on end user, the market is segmented into hospitals and fertility clinics, diagnostic centers, homecare settings, and others.
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global Femtech market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). Each region's Femtech market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in all the region.
From the regional perspective, North America dominated the Femtech market with ~40.5% market share in 2021. The dominance can be attributed to the growing availability of smart wearable devices. Key femtech product manufacturers in the region include Athena Feminine Technologies, Inc.; NUVO Inc.; Sera Prognostics, Inc.; HeraMED, iSono Health, Inc.; Babyscripts; Chiaro Technology Ltd and Elvie; Lattice Medical; Thinx, Inc.; and Minerva Surgical, Inc. These suppliers witness constant demand from hospitals & fertility clinics, diagnostic centers, and homecare settings. The below figure showcases the revenue growth trend in the global femtech market:
Source: The Insight Partners Analysis
The report analyzes factors affecting Femtech market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the Femtech market in all the global regions.
IMPACT OF COVID-19 PANDEMIC
The Femtech market experienced a significant positive impact of COVID-19 as several lifestyle diseases affected women's health. During the pandemic, women faced the increasing concern of health conditions such as reproductive disease due to changed lifestyle habits, mental health, high risk of developing metabolic syndrome, and other chronic diseases. In pregnancy, mainly miscarriages, stillbirths, and birth complications arose, leading to anxiety, depression, and hormonal imbalance. Thus, with growing health concerns, coupled with restrictive guidelines during the pandemic, industry leaders developed innovative software, services, and products with the use of digital technology to reach remote areas across the world. The new generation services provide remote healthcare services to healthcare professionals in hospitals, fertility clinics, and diagnostic centers, as well as to patients remotely.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global Femtech market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). Each region's Femtech market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in all the region.
From the regional perspective, North America dominated the Femtech market with ~40.5% market share in 2021. The dominance can be attributed to the growing availability of smart wearable devices. Key femtech product manufacturers in the region include Athena Feminine Technologies, Inc.; NUVO Inc.; Sera Prognostics, Inc.; HeraMED, iSono Health, Inc.; Babyscripts; Chiaro Technology Ltd and Elvie; Lattice Medical; Thinx, Inc.; and Minerva Surgical, Inc. These suppliers witness constant demand from hospitals & fertility clinics, diagnostic centers, and homecare settings. The below figure showcases the revenue growth trend in the global femtech market:
Source: The Insight Partners Analysis
The report analyzes factors affecting Femtech market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the Femtech market in all the global regions.
IMPACT OF COVID-19 PANDEMIC
The Femtech market experienced a significant positive impact of COVID-19 as several lifestyle diseases affected women's health. During the pandemic, women faced the increasing concern of health conditions such as reproductive disease due to changed lifestyle habits, mental health, high risk of developing metabolic syndrome, and other chronic diseases. In pregnancy, mainly miscarriages, stillbirths, and birth complications arose, leading to anxiety, depression, and hormonal imbalance. Thus, with growing health concerns, coupled with restrictive guidelines during the pandemic, industry leaders developed innovative software, services, and products with the use of digital technology to reach remote areas across the world. The new generation services provide remote healthcare services to healthcare professionals in hospitals, fertility clinics, and diagnostic centers, as well as to patients remotely.
MARKET PLAYERS
The reports cover key developments in the Femtech market into organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players in the Femtech market are anticipated to have lucrative growth opportunities in the future with the rising demand for femtech products and services. Below is a list of a few companies engaged in the femtech market.
The report also includes the profiles of key femtech market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
- Athena Feminine Technologies, Inc.
- NUVO Inc.
- Sera Prognostics, Inc.
- HeraMED
- iSono Health, Inc.
- Babyscripts
- Chiaro Technology Ltd and Elvie
- Lattice Medical
- Thinx, Inc.
- Minerva Surgical, Inc.
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
Type, Application, and End User
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 Femtech Market - By Type
1.3.2 Femtech Market - By Application
1.3.3 Femtech Market - By End User
1.3.4 Femtech Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. FEMTECH 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. FEMTECH 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. FEMTECH MARKET - GLOBAL MARKET ANALYSIS
6.1. FEMTECH - GLOBAL MARKET OVERVIEW
6.2. FEMTECH - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. FEMTECH MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DEVICES
7.3.1. Overview
7.3.2. Devices Market Forecast and Analysis
7.4. SOFTWARE
7.4.1. Overview
7.4.2. Software Market Forecast and Analysis
7.5. SERVICES
7.5.1. Overview
7.5.2. Services Market Forecast and Analysis
8. FEMTECH MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. REPRODUCTIVE HEALTH
8.3.1. Overview
8.3.2. Reproductive Health Market Forecast and Analysis
8.4. PREGNANCY AND NURSING CARE
8.4.1. Overview
8.4.2. Pregnancy and Nursing Care Market Forecast and Analysis
8.5. PELVIC AND UTERINE HEALTHCARE
8.5.1. Overview
8.5.2. Pelvic and Uterine Healthcare Market Forecast and Analysis
8.6. GENERAL HEALTHCARE AND WELLNESS
8.6.1. Overview
8.6.2. General Healthcare and Wellness Market Forecast and Analysis
9. FEMTECH MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND FERTILITY CLINICS
9.3.1. Overview
9.3.2. Hospitals and Fertility Clinics Market Forecast and Analysis
9.4. DIAGNOSTIC CENTERS
9.4.1. Overview
9.4.2. Diagnostic Centers Market Forecast and Analysis
9.5. HOMECARE SETTINGS
9.5.1. Overview
9.5.2. Homecare Settings Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. FEMTECH MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Femtech Market Overview
10.1.2 North America Femtech Market Forecasts and Analysis
10.1.3 North America Femtech Market Forecasts and Analysis - By Type
10.1.4 North America Femtech Market Forecasts and Analysis - By Application
10.1.5 North America Femtech Market Forecasts and Analysis - By End User
10.1.6 North America Femtech Market Forecasts and Analysis - By Countries
10.1.6.1 United States Femtech Market
10.1.6.1.1 United States Femtech Market by Type
10.1.6.1.2 United States Femtech Market by Application
10.1.6.1.3 United States Femtech Market by End User
10.1.6.2 Canada Femtech Market
10.1.6.2.1 Canada Femtech Market by Type
10.1.6.2.2 Canada Femtech Market by Application
10.1.6.2.3 Canada Femtech Market by End User
10.1.6.3 Mexico Femtech Market
10.1.6.3.1 Mexico Femtech Market by Type
10.1.6.3.2 Mexico Femtech Market by Application
10.1.6.3.3 Mexico Femtech Market by End User
10.2. EUROPE
10.2.1 Europe Femtech Market Overview
10.2.2 Europe Femtech Market Forecasts and Analysis
10.2.3 Europe Femtech Market Forecasts and Analysis - By Type
10.2.4 Europe Femtech Market Forecasts and Analysis - By Application
10.2.5 Europe Femtech Market Forecasts and Analysis - By End User
10.2.6 Europe Femtech Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Femtech Market
10.2.6.1.1 Germany Femtech Market by Type
10.2.6.1.2 Germany Femtech Market by Application
10.2.6.1.3 Germany Femtech Market by End User
10.2.6.2 France Femtech Market
10.2.6.2.1 France Femtech Market by Type
10.2.6.2.2 France Femtech Market by Application
10.2.6.2.3 France Femtech Market by End User
10.2.6.3 Italy Femtech Market
10.2.6.3.1 Italy Femtech Market by Type
10.2.6.3.2 Italy Femtech Market by Application
10.2.6.3.3 Italy Femtech Market by End User
10.2.6.4 Spain Femtech Market
10.2.6.4.1 Spain Femtech Market by Type
10.2.6.4.2 Spain Femtech Market by Application
10.2.6.4.3 Spain Femtech Market by End User
10.2.6.5 United Kingdom Femtech Market
10.2.6.5.1 United Kingdom Femtech Market by Type
10.2.6.5.2 United Kingdom Femtech Market by Application
10.2.6.5.3 United Kingdom Femtech Market by End User
10.2.6.6 Rest of Europe Femtech Market
10.2.6.6.1 Rest of Europe Femtech Market by Type
10.2.6.6.2 Rest of Europe Femtech Market by Application
10.2.6.6.3 Rest of Europe Femtech Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Femtech Market Overview
10.3.2 Asia-Pacific Femtech Market Forecasts and Analysis
10.3.3 Asia-Pacific Femtech Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Femtech Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Femtech Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Femtech Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Femtech Market
10.3.6.1.1 Australia Femtech Market by Type
10.3.6.1.2 Australia Femtech Market by Application
10.3.6.1.3 Australia Femtech Market by End User
10.3.6.2 China Femtech Market
10.3.6.2.1 China Femtech Market by Type
10.3.6.2.2 China Femtech Market by Application
10.3.6.2.3 China Femtech Market by End User
10.3.6.3 India Femtech Market
10.3.6.3.1 India Femtech Market by Type
10.3.6.3.2 India Femtech Market by Application
10.3.6.3.3 India Femtech Market by End User
10.3.6.4 Japan Femtech Market
10.3.6.4.1 Japan Femtech Market by Type
10.3.6.4.2 Japan Femtech Market by Application
10.3.6.4.3 Japan Femtech Market by End User
10.3.6.5 South Korea Femtech Market
10.3.6.5.1 South Korea Femtech Market by Type
10.3.6.5.2 South Korea Femtech Market by Application
10.3.6.5.3 South Korea Femtech Market by End User
10.3.6.6 Rest of Asia-Pacific Femtech Market
10.3.6.6.1 Rest of Asia-Pacific Femtech Market by Type
10.3.6.6.2 Rest of Asia-Pacific Femtech Market by Application
10.3.6.6.3 Rest of Asia-Pacific Femtech Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Femtech Market Overview
10.4.2 Middle East and Africa Femtech Market Forecasts and Analysis
10.4.3 Middle East and Africa Femtech Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Femtech Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Femtech Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Femtech Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Femtech Market
10.4.6.1.1 South Africa Femtech Market by Type
10.4.6.1.2 South Africa Femtech Market by Application
10.4.6.1.3 South Africa Femtech Market by End User
10.4.6.2 Saudi Arabia Femtech Market
10.4.6.2.1 Saudi Arabia Femtech Market by Type
10.4.6.2.2 Saudi Arabia Femtech Market by Application
10.4.6.2.3 Saudi Arabia Femtech Market by End User
10.4.6.3 U.A.E Femtech Market
10.4.6.3.1 U.A.E Femtech Market by Type
10.4.6.3.2 U.A.E Femtech Market by Application
10.4.6.3.3 U.A.E Femtech Market by End User
10.4.6.4 Rest of Middle East and Africa Femtech Market
10.4.6.4.1 Rest of Middle East and Africa Femtech Market by Type
10.4.6.4.2 Rest of Middle East and Africa Femtech Market by Application
10.4.6.4.3 Rest of Middle East and Africa Femtech Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Femtech Market Overview
10.5.2 South and Central America Femtech Market Forecasts and Analysis
10.5.3 South and Central America Femtech Market Forecasts and Analysis - By Type
10.5.4 South and Central America Femtech Market Forecasts and Analysis - By Application
10.5.5 South and Central America Femtech Market Forecasts and Analysis - By End User
10.5.6 South and Central America Femtech Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Femtech Market
10.5.6.1.1 Brazil Femtech Market by Type
10.5.6.1.2 Brazil Femtech Market by Application
10.5.6.1.3 Brazil Femtech Market by End User
10.5.6.2 Argentina Femtech Market
10.5.6.2.1 Argentina Femtech Market by Type
10.5.6.2.2 Argentina Femtech Market by Application
10.5.6.2.3 Argentina Femtech Market by End User
10.5.6.3 Rest of South and Central America Femtech Market
10.5.6.3.1 Rest of South and Central America Femtech Market by Type
10.5.6.3.2 Rest of South and Central America Femtech Market by Application
10.5.6.3.3 Rest of South and Central America Femtech Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL FEMTECH MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. FEMTECH MARKET, KEY COMPANY PROFILES
13.1. ATHENA FEMININE TECHNOLOGIES, INC.
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. NUVO INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SERA PROGNOSTICS, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. HERAMED
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. ISONO HEALTH, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. BABYSCRIPTS
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. CHIARO TECHNOLOGY LTD AND ELVIE
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. LATTICE MEDICAL
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. THINX, INC.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. MINERVA SURGICAL, INC.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
13.11. AVA SCIENCE INC.
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Athena Feminine Technologies, Inc.
2. NUVO Inc.
3. Sera Prognostics, Inc.
4. HeraMED
5. iSono Health, Inc.
6. Babyscripts
7. Chiaro Technology Ltd and Elvie
8. Lattice Medical
9. Thinx, Inc.
10. Minerva Surgical, Inc.
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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