Hard Capsules Market Dynamics and Analysis by 2031
The Hard Capsules Market is expected to register a CAGR of 5.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX million by 2031.
The report is segmented by Hard Capsules Market By Type (Gelatin Based Hard Capsule, Vegetarian Based Hard Capsule); Application (Oral, Cosmetic, Clinical Research); End User (Pharmaceutical Companies, Cosmetic and Nutraceutical Companies, Clinical Research Organizations), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Hard Capsules 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.
Hard Capsules Market Segmentation
By Type- Gelatin Based Hard Capsule
- Vegetarian Based Hard Capsule
- Oral
- Cosmetic
- Clinical Research
- Pharmaceutical Companies
- Cosmetic and Nutraceutical Companies
- Clinical Research Organizations
Strategic Insights
Hard Capsules Market Growth Drivers- Rising Demand for Convenient Dosage Forms:Because of their simplicity of use, precise dosage, and capacity to cover up offensive flavors and aromas, hard capsules are preferred. Their attractiveness to patients and medical professionals is greatly increased by this convenience. Because of their softer texture and faster rates of disintegration, which make them simpler to swallow, capsules are preferred over tablets.
- Growth of the Pharmaceutical and Nutraceutical Sectors: The market for functional foods and dietary supplements is being driven by consumers' increased attention to health and wellness. Hard capsules profit from this trend by being widely used to deliver a variety of medications and nutraceuticals. Innovative drug delivery methods are required due to the increasing prevalence of chronic illnesses, and hard capsules are a common option for pharmaceutical companies to encapsulate powders and granules.
- Expanding Market Opportunities:Because of its versatility in efficiently encapsulating liquid substances, the LFHC category is growing in popularity. Given the growing demand from consumers for liquid supplements in the nutraceutical industry, this is especially pertinent. Opportunities for customized capsule formulations that address particular patient demands are being created by the move towards personalized healthcare. Improvements in genomic research and a focus on customized therapy regimens enhance this trend.
- Technological Developments:The production process has been improved through ongoing advancements in capsule-filling technologies, making it more economical and efficient. Innovations like enteric-coated and tailored capsules address particular therapeutic requirements. As a result, these formulations are now more widely accepted and used by medical practitioners.
- Urbanization and Disposable Income:Growing healthcare awareness and disposable incomes brought about by rapid urbanization in developing nations like China and India are driving up demand for medications, notably hard capsules. Globally, the aging population is increasing the prevalence of diseases that need for efficient medication delivery methods, which is driving the hard capsule market.
- Automation and Precision:Growing healthcare awareness and disposable incomes brought about by rapid urbanization in developing nations like China and India are driving up demand for medications, notably hard capsules. Globally, the aging population is increasing the prevalence of diseases that need for efficient medication delivery methods, which is driving the hard capsule market.
- Quality Control Improvements:Every batch of capsules is guaranteed to meet strict safety and efficacy criteria thanks to advanced quality control features incorporated into manufacturing processes. Increased product quality and consistency are a result of automated weight and fill accuracy checks. Specialized excipients that increase the stability and bioavailability of medications in hard capsules have been developed as a result of developments in formulation science. These improvements make it possible to administer complicated compounds—including delicate biologics—effectively.
- Customization and Personalization: The necessity for specialized hard capsules that may be made to meet the demands of each patient is being driven by the movement toward personalized medicine. To maximize therapeutic results, this involves modifying dosage, release modes, and component combinations. In order to meet certain therapeutic needs and improve patient compliance, innovations like side-by-side capsule designs enable the simultaneous encapsulation of incompatible chemicals.
- Tamper-Evident Designs:In order to address safety concerns and regulatory requirements, recent developments have included tamper-evident and child-resistant characteristics to hard capsules. These improvements promote customer confidence in pharmaceutical items while also protecting them. Technological developments enable producers to more effectively meet safety, effectiveness, and quality criteria as regulatory standards get stricter. Gaining market access and preserving customer confidence depend on this compliance.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Hard Capsules 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 Hard Capsules 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.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
In Europe, the UK held the second largest share in 2023.
Asia pacific region is expected to witness the highest growth during the forecast period
Quality Control Improvements
North America held the largest share in 2023 and is expected to retain its dominance during the forecast period
Rising Demand for Convenient Dosage Forms
The Hard Capsules Market is estimated to witness a CAGR of 5.4% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Hard Capsules Market - By Type
1.3.2 Hard Capsules Market - By Application
1.3.3 Hard Capsules Market - By End User
1.3.4 Hard Capsules Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HARD CAPSULES 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. HARD CAPSULES 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. HARD CAPSULES MARKET - GLOBAL MARKET ANALYSIS
6.1. HARD CAPSULES - GLOBAL MARKET OVERVIEW
6.2. HARD CAPSULES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. HARD CAPSULES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. GELATIN BASED HARD CAPSULE
7.3.1. Overview
7.3.2. Gelatin Based Hard Capsule Market Forecast and Analysis
7.4. VEGETARIAN BASED HARD CAPSULE
7.4.1. Overview
7.4.2. Vegetarian Based Hard Capsule Market Forecast and Analysis
8. HARD CAPSULES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ORAL
8.3.1. Overview
8.3.2. Oral Market Forecast and Analysis
8.4. COSMETIC
8.4.1. Overview
8.4.2. Cosmetic Market Forecast and Analysis
8.5. CLINICAL RESEARCH
8.5.1. Overview
8.5.2. Clinical Research Market Forecast and Analysis
9. HARD CAPSULES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. PHARMACEUTICAL COMPANIES
9.3.1. Overview
9.3.2. Pharmaceutical Companies Market Forecast and Analysis
9.4. COSMETIC AND NUTRACEUTICAL COMPANIES
9.4.1. Overview
9.4.2. Cosmetic and Nutraceutical Companies Market Forecast and Analysis
9.5. CLINICAL RESEARCH ORGANIZATIONS
9.5.1. Overview
9.5.2. Clinical Research Organizations Market Forecast and Analysis
10. HARD CAPSULES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Hard Capsules Market Overview
10.1.2 North America Hard Capsules Market Forecasts and Analysis
10.1.3 North America Hard Capsules Market Forecasts and Analysis - By Type
10.1.4 North America Hard Capsules Market Forecasts and Analysis - By Application
10.1.5 North America Hard Capsules Market Forecasts and Analysis - By End User
10.1.6 North America Hard Capsules Market Forecasts and Analysis - By Countries
10.1.6.1 United States Hard Capsules Market
10.1.6.1.1 United States Hard Capsules Market by Type
10.1.6.1.2 United States Hard Capsules Market by Application
10.1.6.1.3 United States Hard Capsules Market by End User
10.1.6.2 Canada Hard Capsules Market
10.1.6.2.1 Canada Hard Capsules Market by Type
10.1.6.2.2 Canada Hard Capsules Market by Application
10.1.6.2.3 Canada Hard Capsules Market by End User
10.1.6.3 Mexico Hard Capsules Market
10.1.6.3.1 Mexico Hard Capsules Market by Type
10.1.6.3.2 Mexico Hard Capsules Market by Application
10.1.6.3.3 Mexico Hard Capsules Market by End User
10.2. EUROPE
10.2.1 Europe Hard Capsules Market Overview
10.2.2 Europe Hard Capsules Market Forecasts and Analysis
10.2.3 Europe Hard Capsules Market Forecasts and Analysis - By Type
10.2.4 Europe Hard Capsules Market Forecasts and Analysis - By Application
10.2.5 Europe Hard Capsules Market Forecasts and Analysis - By End User
10.2.6 Europe Hard Capsules Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Hard Capsules Market
10.2.6.1.1 Germany Hard Capsules Market by Type
10.2.6.1.2 Germany Hard Capsules Market by Application
10.2.6.1.3 Germany Hard Capsules Market by End User
10.2.6.2 France Hard Capsules Market
10.2.6.2.1 France Hard Capsules Market by Type
10.2.6.2.2 France Hard Capsules Market by Application
10.2.6.2.3 France Hard Capsules Market by End User
10.2.6.3 Italy Hard Capsules Market
10.2.6.3.1 Italy Hard Capsules Market by Type
10.2.6.3.2 Italy Hard Capsules Market by Application
10.2.6.3.3 Italy Hard Capsules Market by End User
10.2.6.4 Spain Hard Capsules Market
10.2.6.4.1 Spain Hard Capsules Market by Type
10.2.6.4.2 Spain Hard Capsules Market by Application
10.2.6.4.3 Spain Hard Capsules Market by End User
10.2.6.5 United Kingdom Hard Capsules Market
10.2.6.5.1 United Kingdom Hard Capsules Market by Type
10.2.6.5.2 United Kingdom Hard Capsules Market by Application
10.2.6.5.3 United Kingdom Hard Capsules Market by End User
10.2.6.6 Rest of Europe Hard Capsules Market
10.2.6.6.1 Rest of Europe Hard Capsules Market by Type
10.2.6.6.2 Rest of Europe Hard Capsules Market by Application
10.2.6.6.3 Rest of Europe Hard Capsules Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Hard Capsules Market Overview
10.3.2 Asia-Pacific Hard Capsules Market Forecasts and Analysis
10.3.3 Asia-Pacific Hard Capsules Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Hard Capsules Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Hard Capsules Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Hard Capsules Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Hard Capsules Market
10.3.6.1.1 Australia Hard Capsules Market by Type
10.3.6.1.2 Australia Hard Capsules Market by Application
10.3.6.1.3 Australia Hard Capsules Market by End User
10.3.6.2 China Hard Capsules Market
10.3.6.2.1 China Hard Capsules Market by Type
10.3.6.2.2 China Hard Capsules Market by Application
10.3.6.2.3 China Hard Capsules Market by End User
10.3.6.3 India Hard Capsules Market
10.3.6.3.1 India Hard Capsules Market by Type
10.3.6.3.2 India Hard Capsules Market by Application
10.3.6.3.3 India Hard Capsules Market by End User
10.3.6.4 Japan Hard Capsules Market
10.3.6.4.1 Japan Hard Capsules Market by Type
10.3.6.4.2 Japan Hard Capsules Market by Application
10.3.6.4.3 Japan Hard Capsules Market by End User
10.3.6.5 South Korea Hard Capsules Market
10.3.6.5.1 South Korea Hard Capsules Market by Type
10.3.6.5.2 South Korea Hard Capsules Market by Application
10.3.6.5.3 South Korea Hard Capsules Market by End User
10.3.6.6 Rest of Asia-Pacific Hard Capsules Market
10.3.6.6.1 Rest of Asia-Pacific Hard Capsules Market by Type
10.3.6.6.2 Rest of Asia-Pacific Hard Capsules Market by Application
10.3.6.6.3 Rest of Asia-Pacific Hard Capsules Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Hard Capsules Market Overview
10.4.2 Middle East and Africa Hard Capsules Market Forecasts and Analysis
10.4.3 Middle East and Africa Hard Capsules Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Hard Capsules Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Hard Capsules Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Hard Capsules Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Hard Capsules Market
10.4.6.1.1 South Africa Hard Capsules Market by Type
10.4.6.1.2 South Africa Hard Capsules Market by Application
10.4.6.1.3 South Africa Hard Capsules Market by End User
10.4.6.2 Saudi Arabia Hard Capsules Market
10.4.6.2.1 Saudi Arabia Hard Capsules Market by Type
10.4.6.2.2 Saudi Arabia Hard Capsules Market by Application
10.4.6.2.3 Saudi Arabia Hard Capsules Market by End User
10.4.6.3 Rest of Middle East and Africa Hard Capsules Market
10.4.6.3.1 Rest of Middle East and Africa Hard Capsules Market by Type
10.4.6.3.2 Rest of Middle East and Africa Hard Capsules Market by Application
10.4.6.3.3 Rest of Middle East and Africa Hard Capsules Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Hard Capsules Market Overview
10.5.2 South and Central America Hard Capsules Market Forecasts and Analysis
10.5.3 South and Central America Hard Capsules Market Forecasts and Analysis - By Type
10.5.4 South and Central America Hard Capsules Market Forecasts and Analysis - By Application
10.5.5 South and Central America Hard Capsules Market Forecasts and Analysis - By End User
10.5.6 South and Central America Hard Capsules Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Hard Capsules Market
10.5.6.1.1 Brazil Hard Capsules Market by Type
10.5.6.1.2 Brazil Hard Capsules Market by Application
10.5.6.1.3 Brazil Hard Capsules Market by End User
10.5.6.2 Argentina Hard Capsules Market
10.5.6.2.1 Argentina Hard Capsules Market by Type
10.5.6.2.2 Argentina Hard Capsules Market by Application
10.5.6.2.3 Argentina Hard Capsules Market by End User
10.5.6.3 Rest of South and Central America Hard Capsules Market
10.5.6.3.1 Rest of South and Central America Hard Capsules Market by Type
10.5.6.3.2 Rest of South and Central America Hard Capsules Market by Application
10.5.6.3.3 Rest of South and Central America Hard Capsules 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. HARD CAPSULES MARKET, KEY COMPANY PROFILES
12.1. BRIGHT PHARMA CAPS 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. SUNIL HEALTHCARE 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. CAPS CANADA 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. ROXLOR LLC
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. SNAIL PHARMA INDUSTRY CO. LTD.
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. SUHEUNG CO. LTD.
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. MEDI CAPS LTD.
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1.Bright Pharma Caps Inc.
2.Sunil Healthcare Ltd.
3.Caps Canada Corporation
4.Roxlor LLC
5.Snail Pharma Industry Co. Ltd.
6.Suheung Co. Ltd.
7.Medi Caps Ltd.
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.