HPMC Capsule Market Size (2021-2031) and Growth
The HPMC Capsule Market is expected to register a CAGR of 9.0% 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 HPMC Capsule Market By Product (With Gelling Aid, Without Gelling Aid); Route of Administration (Oral, Inhalation, Vaginal, Rectal); End User (Pharmaceutical Companies, CMOs (Contract Manufacturing Organizations), Food and Beverage Companies, Cosmetic Companies), 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 HPMC Capsule 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.
HPMC Capsule Market Segmentation
By Product- With Gelling Aid
- Without Gelling Aid
- Oral
- Inhalation
- Vaginal
- Rectal
- Pharmaceutical Companies
- CMOs
Strategic Insights
HPMC Capsule Market Growth Drivers- Increasing Demand for Vegetarian Capsules: Because HPMC capsules are made from plant sources and are appropriate for consumers who avoid animal products, the trend towards vegetarian and vegan lifestyles is greatly increasing demand for them. Because of consumer preferences and regulatory compliance, businesses in the pharmaceutical and nutraceutical sectors are increasingly choosing HPMC over conventional gelatin capsules. This trend is especially noticeable in these sectors.
- Impact of COVID-19: The market for HPMC capsules has benefited from the pandemic's increased demand for nutraceuticals, especially those that increase immunity. Consumers are looking for dietary supplements in the form of capsules as a result of growing knowledge of health and wellness.
- Regulatory Compliance and Safety: HPMC capsules are known for their safety and adherence to a number of dietary guidelines, such as being certified Kosher and Halal. Manufacturers seeking to serve a wide range of international customer bases are drawn to this compliance. Notwithstanding the encouraging growth trajectory, obstacles like high production costs, volatile raw material prices, and onerous regulatory requirements may prevent the market from expanding. Manufacturers are concentrating on employing innovative ideas and smart partnerships to get beyond these obstacles.
- Technological Developments: Product offers are being improved by advancements in capsule design and production techniques. Improved methods for sealing capsules and adjustments that enable better medication release profiles are examples of recent advancements. One major benefit of HPMC capsules is its capacity to encapsulate delicate substances without sacrificing stability.
- R&D Investments : Pharmaceutical companies' growing R&D expenditures are anticipated to boost the market, especially in developing nations where there is a growing need for sophisticated drug delivery methods. Furthermore, the movement toward individualized treatment is probably going to open up new possibilities for the use of HPMC capsules.
- Consumer Preferences:Consumer preferences for vegetarian and vegan products have significantly increased, which benefits HPMC capsules. Because these capsules are made from plant ingredients, people on vegetarian or vegan diets can use them. However, because gelatin capsules are sourced from animals, their appeal to consumers who are health-conscious is limited.
- Stability and Performance:Low moisture content, bacterial growth resistance, and the absence of preservatives are some benefits of HPMC capsules. These characteristics help explain their growing appeal in a variety of formulations, including those that are moisture and oxygen sensitive.Such a factor has assisted the overall market growth in the recent past and is expected to continue a similar trend during the forecast period.
- HPMC Capsules Manufacturing process:To create a film, chilled pins are dipped into a hot HPMC solution (around 70°C) throughout the manufacturing process. In contrast to gelatin, HPMC needs higher temperatures to preserve the integrity of the film during creation; it does not gel at lower temperatures. To improve the gelling qualities, gelling agents like carrageenan or gellan gum can be added; however, some manufacturers are switching to methods that don't need them.
- Application Process:To prevent the coatings that form on the dipping pins from liquefying until they are dried in kilns, the temperature of the pins must be carefully regulated after the dip. This necessitates constant, accurate temperature control. Generally speaking, their shell walls are weaker than those of gelatin capsules, which might cause problems when handling and filling. To lessen these problems, manufacturers frequently use techniques like thickening the film or utilizing specific stripping processes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the HPMC Capsule 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 HPMC Capsule 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.
REGIONAL FRAMEWORK
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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
Hospitals segment held the largest share in 2023.
Stability and Performance
North America held the largest share in 2023 and is expected to retain its dominance during the forecast period
Increasing Demand for Vegetarian Capsules
The HPMC Capsule Market is estimated to witness a CAGR of 9.0% from 2023 to 2031
In Europe, the UK held the second largest share in 2023.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 HPMC Capsule Market - By Product
1.3.2 HPMC Capsule Market - By Route of Administration
1.3.3 HPMC Capsule Market - By End User
1.3.4 HPMC Capsule Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HPMC CAPSULE 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. HPMC CAPSULE 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. HPMC CAPSULE MARKET - GLOBAL MARKET ANALYSIS
6.1. HPMC CAPSULE - GLOBAL MARKET OVERVIEW
6.2. HPMC CAPSULE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HPMC CAPSULE MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. WITH GELLING AID
7.3.1. Overview
7.3.2. With Gelling Aid Market Forecast and Analysis
7.3.3. Carrageenan Market
7.3.3.1. Overview
7.3.3.2. Carrageenan Market Forecast and Analysis
7.3.4. Gellan Market
7.3.4.1. Overview
7.3.4.2. Gellan Market Forecast and Analysis
7.3.5. Gum Market
7.3.5.1. Overview
7.3.5.2. Gum Market Forecast and Analysis
7.3.6. Others Market
7.3.6.1. Overview
7.3.6.2. Others Market Forecast and Analysis
7.4. WITHOUT GELLING AID
7.4.1. Overview
7.4.2. Without Gelling Aid Market Forecast and Analysis
8. HPMC CAPSULE MARKET - REVENUE AND FORECASTS TO 2028 - ROUTE OF ADMINISTRATION
8.1. OVERVIEW
8.2. ROUTE OF ADMINISTRATION MARKET FORECASTS AND ANALYSIS
8.3. ORAL
8.3.1. Overview
8.3.2. Oral Market Forecast and Analysis
8.4. INHALATION
8.4.1. Overview
8.4.2. Inhalation Market Forecast and Analysis
8.5. VAGINAL
8.5.1. Overview
8.5.2. Vaginal Market Forecast and Analysis
8.6. RECTAL
8.6.1. Overview
8.6.2. Rectal Market Forecast and Analysis
9. HPMC CAPSULE 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. CMO'S (CONTRACT MANUFACTURING ORGANIZATIONS)
9.4.1. Overview
9.4.2. CMO's (Contract Manufacturing Organizations) Market Forecast and Analysis
9.5. FOOD AND BEVERAGE COMPANIES
9.5.1. Overview
9.5.2. Food and Beverage Companies Market Forecast and Analysis
9.6. COSMETIC COMPANIES
9.6.1. Overview
9.6.2. Cosmetic Companies Market Forecast and Analysis
10. HPMC CAPSULE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America HPMC Capsule Market Overview
10.1.2 North America HPMC Capsule Market Forecasts and Analysis
10.1.3 North America HPMC Capsule Market Forecasts and Analysis - By Product
10.1.4 North America HPMC Capsule Market Forecasts and Analysis - By Route of Administration
10.1.5 North America HPMC Capsule Market Forecasts and Analysis - By End User
10.1.6 North America HPMC Capsule Market Forecasts and Analysis - By Countries
10.1.6.1 United States HPMC Capsule Market
10.1.6.1.1 United States HPMC Capsule Market by Product
10.1.6.1.2 United States HPMC Capsule Market by Route of Administration
10.1.6.1.3 United States HPMC Capsule Market by End User
10.1.6.2 Canada HPMC Capsule Market
10.1.6.2.1 Canada HPMC Capsule Market by Product
10.1.6.2.2 Canada HPMC Capsule Market by Route of Administration
10.1.6.2.3 Canada HPMC Capsule Market by End User
10.1.6.3 Mexico HPMC Capsule Market
10.1.6.3.1 Mexico HPMC Capsule Market by Product
10.1.6.3.2 Mexico HPMC Capsule Market by Route of Administration
10.1.6.3.3 Mexico HPMC Capsule Market by End User
10.2. EUROPE
10.2.1 Europe HPMC Capsule Market Overview
10.2.2 Europe HPMC Capsule Market Forecasts and Analysis
10.2.3 Europe HPMC Capsule Market Forecasts and Analysis - By Product
10.2.4 Europe HPMC Capsule Market Forecasts and Analysis - By Route of Administration
10.2.5 Europe HPMC Capsule Market Forecasts and Analysis - By End User
10.2.6 Europe HPMC Capsule Market Forecasts and Analysis - By Countries
10.2.6.1 Germany HPMC Capsule Market
10.2.6.1.1 Germany HPMC Capsule Market by Product
10.2.6.1.2 Germany HPMC Capsule Market by Route of Administration
10.2.6.1.3 Germany HPMC Capsule Market by End User
10.2.6.2 France HPMC Capsule Market
10.2.6.2.1 France HPMC Capsule Market by Product
10.2.6.2.2 France HPMC Capsule Market by Route of Administration
10.2.6.2.3 France HPMC Capsule Market by End User
10.2.6.3 Italy HPMC Capsule Market
10.2.6.3.1 Italy HPMC Capsule Market by Product
10.2.6.3.2 Italy HPMC Capsule Market by Route of Administration
10.2.6.3.3 Italy HPMC Capsule Market by End User
10.2.6.4 Spain HPMC Capsule Market
10.2.6.4.1 Spain HPMC Capsule Market by Product
10.2.6.4.2 Spain HPMC Capsule Market by Route of Administration
10.2.6.4.3 Spain HPMC Capsule Market by End User
10.2.6.5 United Kingdom HPMC Capsule Market
10.2.6.5.1 United Kingdom HPMC Capsule Market by Product
10.2.6.5.2 United Kingdom HPMC Capsule Market by Route of Administration
10.2.6.5.3 United Kingdom HPMC Capsule Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific HPMC Capsule Market Overview
10.3.2 Asia-Pacific HPMC Capsule Market Forecasts and Analysis
10.3.3 Asia-Pacific HPMC Capsule Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific HPMC Capsule Market Forecasts and Analysis - By Route of Administration
10.3.5 Asia-Pacific HPMC Capsule Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific HPMC Capsule Market Forecasts and Analysis - By Countries
10.3.6.1 Australia HPMC Capsule Market
10.3.6.1.1 Australia HPMC Capsule Market by Product
10.3.6.1.2 Australia HPMC Capsule Market by Route of Administration
10.3.6.1.3 Australia HPMC Capsule Market by End User
10.3.6.2 China HPMC Capsule Market
10.3.6.2.1 China HPMC Capsule Market by Product
10.3.6.2.2 China HPMC Capsule Market by Route of Administration
10.3.6.2.3 China HPMC Capsule Market by End User
10.3.6.3 India HPMC Capsule Market
10.3.6.3.1 India HPMC Capsule Market by Product
10.3.6.3.2 India HPMC Capsule Market by Route of Administration
10.3.6.3.3 India HPMC Capsule Market by End User
10.3.6.4 Japan HPMC Capsule Market
10.3.6.4.1 Japan HPMC Capsule Market by Product
10.3.6.4.2 Japan HPMC Capsule Market by Route of Administration
10.3.6.4.3 Japan HPMC Capsule Market by End User
10.3.6.5 South Korea HPMC Capsule Market
10.3.6.5.1 South Korea HPMC Capsule Market by Product
10.3.6.5.2 South Korea HPMC Capsule Market by Route of Administration
10.3.6.5.3 South Korea HPMC Capsule Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa HPMC Capsule Market Overview
10.4.2 Middle East and Africa HPMC Capsule Market Forecasts and Analysis
10.4.3 Middle East and Africa HPMC Capsule Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa HPMC Capsule Market Forecasts and Analysis - By Route of Administration
10.4.5 Middle East and Africa HPMC Capsule Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa HPMC Capsule Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa HPMC Capsule Market
10.4.6.1.1 South Africa HPMC Capsule Market by Product
10.4.6.1.2 South Africa HPMC Capsule Market by Route of Administration
10.4.6.1.3 South Africa HPMC Capsule Market by End User
10.4.6.2 Saudi Arabia HPMC Capsule Market
10.4.6.2.1 Saudi Arabia HPMC Capsule Market by Product
10.4.6.2.2 Saudi Arabia HPMC Capsule Market by Route of Administration
10.4.6.2.3 Saudi Arabia HPMC Capsule Market by End User
10.4.6.3 U.A.E HPMC Capsule Market
10.4.6.3.1 U.A.E HPMC Capsule Market by Product
10.4.6.3.2 U.A.E HPMC Capsule Market by Route of Administration
10.4.6.3.3 U.A.E HPMC Capsule Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America HPMC Capsule Market Overview
10.5.2 South and Central America HPMC Capsule Market Forecasts and Analysis
10.5.3 South and Central America HPMC Capsule Market Forecasts and Analysis - By Product
10.5.4 South and Central America HPMC Capsule Market Forecasts and Analysis - By Route of Administration
10.5.5 South and Central America HPMC Capsule Market Forecasts and Analysis - By End User
10.5.6 South and Central America HPMC Capsule Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil HPMC Capsule Market
10.5.6.1.1 Brazil HPMC Capsule Market by Product
10.5.6.1.2 Brazil HPMC Capsule Market by Route of Administration
10.5.6.1.3 Brazil HPMC Capsule Market by End User
10.5.6.2 Argentina HPMC Capsule Market
10.5.6.2.1 Argentina HPMC Capsule Market by Product
10.5.6.2.2 Argentina HPMC Capsule Market by Route of Administration
10.5.6.2.3 Argentina HPMC Capsule Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL HPMC CAPSULE 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. HPMC CAPSULE MARKET, KEY COMPANY PROFILES
13.1. LONZA
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. ACG-ASSOCIATED CAPSULES
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. CATALENT, 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. QUALICAPS CO., LTD.
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. SUHEUNG CAPSULE CO. LTD.
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. SUNIL HEALTHCARE LIMITED
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. MITSUBISHI CHEMICAL HOLDINGS CORPORATION
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. BIOCAPS ENTERPRISE, INC.
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. HEALTHCAPS INDIA LTD
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. BAOTOU CAPSTECH CO., LTD
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
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Lonza
2. ACG-Associated Capsules
3. Catalent, Inc
4. Qualicaps Co., Ltd.
5. Suheung Capsule Co. Ltd.
6. SUNIL HEALTHCARE LIMITED
7. Mitsubishi Chemical Holdings Corporation
8. BioCaps Enterprise, Inc.
9. HealthCaps India Ltd
10. Baotou Capstech Co., Ltd
11. Wuhan Carma Technology Co., Ltd
12. Shanghai Honest Chemical Co., Ltd.
13. Strohcaps, Inc.
14. Shaoxing Kangke Capsule Co., Ltd.
15. Zhejiang Yuexi Capsule Co., Ltd.
16. GS Capsule
17. Natural Capsules Limited
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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