Healthcare Adhesives Market Growth Report and Size by 2031
The Healthcare Adhesives Market is expected to register a CAGR of 6 % 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 type (acrylic, silicone, rubber, polyurethanes, others), backing material (paper, fabric, plastic, others). The report further presents analysis based on application (diagnostics, surgical, hygiene, wound care, bandages, transdermal patches, blister protection, others). Global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Healthcare Adhesives 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.
Healthcare Adhesives Market Segmentation
Type- Acrylic
- Silicone
- Rubber
- Polyurethanes
- Paper
- Fabric
- Plastic
- Diagnostics
- Surgical
- Hygiene
- Wound Care
- Bandages
- Transdermal Patches
- Blister Protection
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Healthcare Adhesives Market Growth Drivers- Rising Prevalence of Chronic Diseases: An increase in the prevalence of chronic diseases like diabetes and cardiovascular conditions fuels the market for health-care adhesive tapes. This increase demands more frequent medical interventions and monitoring, which leads to an increased demand for adhesive tapes used in wound care and medical applications.
- Growth in Surgical Procedures Fuels Adhesive Tape Market: The growth in the number of surgeries is another significant driver for the market. With expanding and improving health systems, the demand for different adhesives tapes for securing dressings or support to surgical sites increases. Such a trend is observable in developed regions.
- Technological Advancements: Technological advancement in adhesive formulation enhances the performance and flexibility in healthcare adhesive tapes. The advancements improve adhesiveness, skin compatibility, and ease of use in healthcare adhesive tapes, which directly helps to make them more useful in clinical applications. Such advancements have led to investments and further expanded the potential of the market.
- Advancements in Materials: There is an observable trend regarding advanced material usage within medical adhesive tapes, including adhesives that are antimicrobial and skin-friendly. These innovations improve the performance and safety of tapes used in wound care and surgical applications and respond to the increasing need for effective medical solutions.
- Increased Demand Driven by Healthcare and Hygiene Trends: The demand for healthcare products and the hygiene culture have gained popularity, and as a result, the demand for medical adhesive tapes has increased. This trend is more significant for regions with a fast-paced population growth that results in this increased demand for the medical products, among other products containing these, accelerating their demand. As a result, the medical adhesive tapes market grows.
- Shift Towards Eco-Friendly and Sustainable Adhesives: The healthcare industry is experiencing growing trends of eco-friendly and sustainable adhesives. There is the focus among manufacturers to come up with tapes made from biodegradable materials combined with non-toxic adhesives to mitigate the effects of the environment, responding to consumer demand for greener healthcare products without deviating from performance and safety.
- Growth Opportunities in Emerging Markets: Emerging markets, which have more and more healthcare infrastructure base and increasing levels of disposable income, are of great opportunity for growth. There is a strong likelihood of growth in the requirement for reliable adhesive solutions in wound care and surgical applications as those countries continue to make investments in medical facilities and services.
- Innovation in Specialized Medical Adhesive Tapes:
There's a great deal of innovation that would be possible with specialized medical adhesive tapes. One would be able to design products so as to answer specific needs-presently, for example, hypoallergenic or waterproof tapes, which will make one's product stand out in the marketplace and meet the diverse requirements of healthcare providers and patients.
- Integration of Technology in Medical Adhesive Tapes: This has presented significant growth opportunities through the integration of technology in the form of adhesive tapes, with healthcare being one segment- including smart tapes that can be monitored. This may then be able to present real-time data regarding both patient conditions and wound healing, which advances the care of patients and opens up new markets in digital health.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Healthcare Adhesives 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 Healthcare Adhesives 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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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Healthcare Adhesives Market is estimated to witness a CAGR of 6 % from 2023 to 2031
Increasing prevalence of chronic diseases coupled with growing number of surgeries are the major factors driving the healthcare adhesive tapes market growth.
The use of advanced materials in medical adhesive tapes, including antimicrobial and skin-friendly adhesives is likely to remain the key trends in the market.
AVERY DENNISON CORPORATION, Parafix Tapes and Conversions Ltd., 3M, tesa SE, Henkel Adhesives Technologies India Private Limited, MBK Tape Solutions, NITTO DENKO CORPORATION, Cardinal Health, NICHIBAN Co., Ltd., Lohmann GmbH and Co.KG are the key players operating in the market
Based on geography, North America held the largest share of the healthcare adhesive tapes market.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Healthcare Adhesive Tapes - By Type
1.3.2 Healthcare Adhesive Tapes - By Backing Material
1.3.3 Healthcare Adhesive Tapes - By Applications
1.3.4 Healthcare Adhesive Tapes - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HEALTHCARE ADHESIVE TAPES 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. HEALTHCARE ADHESIVE TAPES - 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. HEALTHCARE ADHESIVE TAPES - GLOBAL MARKET ANALYSIS
6.1. HEALTHCARE ADHESIVE TAPES - GLOBAL MARKET OVERVIEW
6.2. HEALTHCARE ADHESIVE TAPES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HEALTHCARE ADHESIVE TAPES - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. ACRYLIC
7.3.1. Overview
7.3.2. Acrylic Market Forecast and Analysis
7.4. SILICONE
7.4.1. Overview
7.4.2. Silicone Market Forecast and Analysis
7.5. RUBBER
7.5.1. Overview
7.5.2. Rubber Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. HEALTHCARE ADHESIVE TAPES - REVENUE AND FORECASTS TO 2028 - BACKING MATERIAL
8.1. OVERVIEW
8.2. BACKING MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PAPER
8.3.1. Overview
8.3.2. Paper Market Forecast and Analysis
8.4. FABRIC
8.4.1. Overview
8.4.2. Fabric Market Forecast and Analysis
8.5. PLASTIC
8.5.1. Overview
8.5.2. Plastic Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. HEALTHCARE ADHESIVE TAPES - REVENUE AND FORECASTS TO 2028 - APPLICATIONS
9.1. OVERVIEW
9.2. APPLICATIONS MARKET FORECASTS AND ANALYSIS
9.3. SURGERY
9.3.1. Overview
9.3.2. Surgery Market Forecast and Analysis
9.4. WOUND DRESSING
9.4.1. Overview
9.4.2. Wound Dressing Market Forecast and Analysis
9.5. SPLINTS
9.5.1. Overview
9.5.2. Splints Market Forecast and Analysis
9.6. SECURE IV LINES
9.6.1. Overview
9.6.2. Secure Iv Lines Market Forecast and Analysis
9.7. OSTOMY SEALS
9.7.1. Overview
9.7.2. Ostomy Seals Market Forecast and Analysis
9.8. HYGIENE
9.8.1. Overview
9.8.2. Hygiene Market Forecast and Analysis
9.9. BANDAGES, TRANSDERMAL PATCHES, AND BLISTER PROTECTION
9.9.1. Overview
9.9.2. Bandages, Transdermal Patches, and Blister Protection Market Forecast and Analysis
9.10. DIAGNOSTIC, MONITORING AND MEDICAL DEVICES, AND OPTICAL CARE
9.10.1. Overview
9.10.2. Diagnostic, Monitoring and Medical Devices, and Optical Care Market Forecast and Analysis
9.11. OTHERS
9.11.1. Overview
9.11.2. Others Market Forecast and Analysis
10. HEALTHCARE ADHESIVE TAPES REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Healthcare Adhesive Tapes Overview
10.1.2 North America Healthcare Adhesive Tapes Forecasts and Analysis
10.1.3 North America Healthcare Adhesive Tapes Forecasts and Analysis - By Type
10.1.4 North America Healthcare Adhesive Tapes Forecasts and Analysis - By Backing Material
10.1.5 North America Healthcare Adhesive Tapes Forecasts and Analysis - By Applications
10.1.6 North America Healthcare Adhesive Tapes Forecasts and Analysis - By Countries
10.1.6.1 Canada Healthcare Adhesive Tapes
10.1.6.1.1 Canada Healthcare Adhesive Tapes by Type
10.1.6.1.2 Canada Healthcare Adhesive Tapes by Backing Material
10.1.6.1.3 Canada Healthcare Adhesive Tapes by Applications
10.1.6.2 Mexico Healthcare Adhesive Tapes
10.1.6.2.1 Mexico Healthcare Adhesive Tapes by Type
10.1.6.2.2 Mexico Healthcare Adhesive Tapes by Backing Material
10.1.6.2.3 Mexico Healthcare Adhesive Tapes by Applications
10.1.6.3 US Healthcare Adhesive Tapes
10.1.6.3.1 US Healthcare Adhesive Tapes by Type
10.1.6.3.2 US Healthcare Adhesive Tapes by Backing Material
10.1.6.3.3 US Healthcare Adhesive Tapes by Applications
10.2. EUROPE
10.2.1 Europe Healthcare Adhesive Tapes Overview
10.2.2 Europe Healthcare Adhesive Tapes Forecasts and Analysis
10.2.3 Europe Healthcare Adhesive Tapes Forecasts and Analysis - By Type
10.2.4 Europe Healthcare Adhesive Tapes Forecasts and Analysis - By Backing Material
10.2.5 Europe Healthcare Adhesive Tapes Forecasts and Analysis - By Applications
10.2.6 Europe Healthcare Adhesive Tapes Forecasts and Analysis - By Countries
10.2.6.1 Germany Healthcare Adhesive Tapes
10.2.6.1.1 Germany Healthcare Adhesive Tapes by Type
10.2.6.1.2 Germany Healthcare Adhesive Tapes by Backing Material
10.2.6.1.3 Germany Healthcare Adhesive Tapes by Applications
10.2.6.2 France Healthcare Adhesive Tapes
10.2.6.2.1 France Healthcare Adhesive Tapes by Type
10.2.6.2.2 France Healthcare Adhesive Tapes by Backing Material
10.2.6.2.3 France Healthcare Adhesive Tapes by Applications
10.2.6.3 Italy Healthcare Adhesive Tapes
10.2.6.3.1 Italy Healthcare Adhesive Tapes by Type
10.2.6.3.2 Italy Healthcare Adhesive Tapes by Backing Material
10.2.6.3.3 Italy Healthcare Adhesive Tapes by Applications
10.2.6.4 United Kingdom Healthcare Adhesive Tapes
10.2.6.4.1 United Kingdom Healthcare Adhesive Tapes by Type
10.2.6.4.2 United Kingdom Healthcare Adhesive Tapes by Backing Material
10.2.6.4.3 United Kingdom Healthcare Adhesive Tapes by Applications
10.2.6.5 Russia Healthcare Adhesive Tapes
10.2.6.5.1 Russia Healthcare Adhesive Tapes by Type
10.2.6.5.2 Russia Healthcare Adhesive Tapes by Backing Material
10.2.6.5.3 Russia Healthcare Adhesive Tapes by Applications
10.2.6.6 Rest of Europe Healthcare Adhesive Tapes
10.2.6.6.1 Rest of Europe Healthcare Adhesive Tapes by Type
10.2.6.6.2 Rest of Europe Healthcare Adhesive Tapes by Backing Material
10.2.6.6.3 Rest of Europe Healthcare Adhesive Tapes by Applications
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Healthcare Adhesive Tapes Overview
10.3.2 Asia-Pacific Healthcare Adhesive Tapes Forecasts and Analysis
10.3.3 Asia-Pacific Healthcare Adhesive Tapes Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Healthcare Adhesive Tapes Forecasts and Analysis - By Backing Material
10.3.5 Asia-Pacific Healthcare Adhesive Tapes Forecasts and Analysis - By Applications
10.3.6 Asia-Pacific Healthcare Adhesive Tapes Forecasts and Analysis - By Countries
10.3.6.1 Australia Healthcare Adhesive Tapes
10.3.6.1.1 Australia Healthcare Adhesive Tapes by Type
10.3.6.1.2 Australia Healthcare Adhesive Tapes by Backing Material
10.3.6.1.3 Australia Healthcare Adhesive Tapes by Applications
10.3.6.2 China Healthcare Adhesive Tapes
10.3.6.2.1 China Healthcare Adhesive Tapes by Type
10.3.6.2.2 China Healthcare Adhesive Tapes by Backing Material
10.3.6.2.3 China Healthcare Adhesive Tapes by Applications
10.3.6.3 India Healthcare Adhesive Tapes
10.3.6.3.1 India Healthcare Adhesive Tapes by Type
10.3.6.3.2 India Healthcare Adhesive Tapes by Backing Material
10.3.6.3.3 India Healthcare Adhesive Tapes by Applications
10.3.6.4 Japan Healthcare Adhesive Tapes
10.3.6.4.1 Japan Healthcare Adhesive Tapes by Type
10.3.6.4.2 Japan Healthcare Adhesive Tapes by Backing Material
10.3.6.4.3 Japan Healthcare Adhesive Tapes by Applications
10.3.6.5 South Korea Healthcare Adhesive Tapes
10.3.6.5.1 South Korea Healthcare Adhesive Tapes by Type
10.3.6.5.2 South Korea Healthcare Adhesive Tapes by Backing Material
10.3.6.5.3 South Korea Healthcare Adhesive Tapes by Applications
10.3.6.6 Rest of Asia-Pacific Healthcare Adhesive Tapes
10.3.6.6.1 Rest of Asia-Pacific Healthcare Adhesive Tapes by Type
10.3.6.6.2 Rest of Asia-Pacific Healthcare Adhesive Tapes by Backing Material
10.3.6.6.3 Rest of Asia-Pacific Healthcare Adhesive Tapes by Applications
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Healthcare Adhesive Tapes Overview
10.4.2 Middle East and Africa Healthcare Adhesive Tapes Forecasts and Analysis
10.4.3 Middle East and Africa Healthcare Adhesive Tapes Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Healthcare Adhesive Tapes Forecasts and Analysis - By Backing Material
10.4.5 Middle East and Africa Healthcare Adhesive Tapes Forecasts and Analysis - By Applications
10.4.6 Middle East and Africa Healthcare Adhesive Tapes Forecasts and Analysis - By Countries
10.4.6.1 South Africa Healthcare Adhesive Tapes
10.4.6.1.1 South Africa Healthcare Adhesive Tapes by Type
10.4.6.1.2 South Africa Healthcare Adhesive Tapes by Backing Material
10.4.6.1.3 South Africa Healthcare Adhesive Tapes by Applications
10.4.6.2 Saudi Arabia Healthcare Adhesive Tapes
10.4.6.2.1 Saudi Arabia Healthcare Adhesive Tapes by Type
10.4.6.2.2 Saudi Arabia Healthcare Adhesive Tapes by Backing Material
10.4.6.2.3 Saudi Arabia Healthcare Adhesive Tapes by Applications
10.4.6.3 U.A.E Healthcare Adhesive Tapes
10.4.6.3.1 U.A.E Healthcare Adhesive Tapes by Type
10.4.6.3.2 U.A.E Healthcare Adhesive Tapes by Backing Material
10.4.6.3.3 U.A.E Healthcare Adhesive Tapes by Applications
10.4.6.4 Rest of Middle East and Africa Healthcare Adhesive Tapes
10.4.6.4.1 Rest of Middle East and Africa Healthcare Adhesive Tapes by Type
10.4.6.4.2 Rest of Middle East and Africa Healthcare Adhesive Tapes by Backing Material
10.4.6.4.3 Rest of Middle East and Africa Healthcare Adhesive Tapes by Applications
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Healthcare Adhesive Tapes Overview
10.5.2 South and Central America Healthcare Adhesive Tapes Forecasts and Analysis
10.5.3 South and Central America Healthcare Adhesive Tapes Forecasts and Analysis - By Type
10.5.4 South and Central America Healthcare Adhesive Tapes Forecasts and Analysis - By Backing Material
10.5.5 South and Central America Healthcare Adhesive Tapes Forecasts and Analysis - By Applications
10.5.6 South and Central America Healthcare Adhesive Tapes Forecasts and Analysis - By Countries
10.5.6.1 Brazil Healthcare Adhesive Tapes
10.5.6.1.1 Brazil Healthcare Adhesive Tapes by Type
10.5.6.1.2 Brazil Healthcare Adhesive Tapes by Backing Material
10.5.6.1.3 Brazil Healthcare Adhesive Tapes by Applications
10.5.6.2 Argentina Healthcare Adhesive Tapes
10.5.6.2.1 Argentina Healthcare Adhesive Tapes by Type
10.5.6.2.2 Argentina Healthcare Adhesive Tapes by Backing Material
10.5.6.2.3 Argentina Healthcare Adhesive Tapes by Applications
10.5.6.3 Rest of South and Central America Healthcare Adhesive Tapes
10.5.6.3.1 Rest of South and Central America Healthcare Adhesive Tapes by Type
10.5.6.3.2 Rest of South and Central America Healthcare Adhesive Tapes by Backing Material
10.5.6.3.3 Rest of South and Central America Healthcare Adhesive Tapes by Applications
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. HEALTHCARE ADHESIVE TAPES, KEY COMPANY PROFILES
12.1. 3M
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. AVERY DENNISON CORPORATION
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. CARDINAL HEALTH, INC.
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. ESSITY AKTIEBOLAG (PUBL)
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. JOHNSON AND JOHNSON
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. NICHIBAN 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. NITTO DENKO 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. PAUL HARTMANN AG
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. SCAPA GROUP PLC
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. SMITH AND NEPHEW PLC
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
1.3M2.Avery Dennison Corporation3.Cardinal Health, Inc.4.Essity Aktiebolag (Publ)5.Johnson and Johnson6.Nichiban Co., Ltd.7.Nitto Denko Corporation8.Paul Hartmann AG9.Scapa Group PLC10.Smith and Nephew PLC
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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