Medical Device Packaging Market Statistics, Trends, Size, Share, Analysis, Key Players by 2031

Coverage: Medical Device Packaging Market covers analysis By Application (Plastic, Paper and Paperboard, Foils, Glass, Others); Product Type (Pouches, Clamshell Packs, Boxes, Bags, Blisters, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00027699
  • Category : Life Sciences
  • No. of Pages : 150
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Medical Device Packaging Market Size and Share: 2031 Key Findings

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The Medical Device Packaging Market is expected to register a CAGR of 5.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report presents an analysis based on Application (Plastic, Paper and Paperboard, Foils, Glass, Others); Product Type (Pouches, Clamshell Packs, Boxes, Bags, Blisters, Others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.

Purpose of the Report

The report Medical Device Packaging 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.

Medical Device Packaging Market Segmentation

Application
  • Plastic
  • Paper and Paperboard
  • Foils
  • Glass
  • Others
Product Type
  • Pouches
  • Clamshell Packs
  • Boxes
  • Bags
  • Blisters
  • Others

Strategic Insights

Medical Device Packaging Market Growth Drivers
  • Growing demand for sterile and safe medical devices: Patient safety and infection control at the forefront are something that propels growth in the market for medical device packaging. Sterility and prevention of contamination are critical for ensuring quality and safety in medical devices through packaging. Considering the increasing focus of healthcare providers toward compliance with strict regulations, the demand for advanced and reliable safe hygienic packaging is increasing.
  • Advancements in Packaging Technology: Key drivers that scatters into the wide movement of the medical device packaging market are advances in packaging materials and process technology. The packaging innovations that were introduced recently in the medical device packaging field include blister packs, child-resistant packaging, tamper-evident seals, and smart packaging that in some instances includes inline tracking and monitoring for temperature and humidity, among others, to provide real-time information for integrity maintenance of medical devices.
  • Expansion in Minimally Invasive Procedures and Home Healthcare: Emerging home healthcare and minimally invasive procedures would boost the demand for smaller and more convenient package designs for medical devices. Treatment for more patients is now available at home or as an outpatient, thus requiring the packaging of medical devices to provide convenience in handling, storing, and transporting. It provides a developing ground for creating user-friendly and portable packing solutions.
Medical Device Packaging Market Future Trends
  • Sustainable Eco-friendly Packaging Transition: Sustainability is indeed becoming a bigger trend even in the medical device packaging market. By reducing ecological impacts, manufacturers are switching to less ecologically harmful materials such as biodegradable plastics and recycle-friendly materials. Lately, pressure from the consumers as well as governments has been moving towards controlling waste and has made the market shift towards eco-friendliness in packaging without compromising the safety and usability of the products.
  • Emerging Smart Packaging Technologies: The first emergent trend in advanced medical devices packaging is the incorporation of smart technology features into the system. Smart packaging uses sensors, RFID tags, and temperature indicators in the packaging component to allow real-time monitoring and tracking of the medical devices by the healthcare provider. This encourages patient safety and ensures optimal storage and transportation of the medical device under the most favorable conditions that increase the integrity of the product as a whole.
  • Convinient and User-Friendly Designs: With the increasing wave of change driving the healthcare system toward home care and outpatient services, so is fashion toward packaging convenience and ease of use taking shape. Features like easy-opening designs, tamper-evident seals, and compact formats are being tailored into medical devices packaging to make everything easier and thus improve the environment experience of the patient-the very same patients who don't often find themselves in clinical settings.
Medical Device Packaging Market Opportunities
  • Expanding into Emerging Markets: Advancement in healthcare infrastructure in emerging markets opens a great opportunity for the medical device packaging market. High growth prospects are linked with increasing investments in healthcare and the requirement of safe, quality packaging solutions. There is also a great chance for manufacturers in these places by providing cost-effective innovative packaging meeting local standards that can ensure the safety of their devices and results compliance with legislation changes across areas.
  • Growth in Personalized Medicine and Devices: Personalized medicine and personalized medical devices will give rise to a very special opportunity for medical device packaging. The demand for packaging solutions that are directed toward single devices such as special containers or special packaging format is going to grow. The trend makes it possible for manufacturers to create products that meet as per requirements of individual patients thereby increasing the functionality of the products and boosting patient satisfaction in personalized healthcare.
  • Development On Sustainable Packaging Solutions: The transition toward sustainable practices in the health sector means a gigantic market opportunity for developing sustainably suitable alternative medical device packaging products. Biodegradable or recyclable from renewable sources has a high potential for increasing demand in packaging materials. This offers room for manufacturers focused on generating green solutions that are environmentally friendly and cost-effective in providing safety and integrity for the medical products.

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Medical Device Packaging 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 Medical Device Packaging 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
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


Who are the prominent players in Medical Device Packaging Market ?

3M Company, Amcor Limite, Berry Global Inc., CCL industries INC., Constantia Flexibles

What is one of the main future trends of the Medical Device Packaging Market ?

Sustainable Eco-friendly Packaging Transition is likely to remain the key trend during the forecast period.

Which region dominated the Medical Device Packaging Market in 2023?

North America dominated the Medical Device Packaging Market in 2023

What are the driving factors impacting the Medical Device Packaging Market ?

The market drivers include the Growing demand for sterile and safe medical devices, Advancements in Packaging Technology, Expansion in Minimally Invasive Procedures and Home Healthcare

What is the expected CAGR of the Medical Device Packaging Market?

The Medical Device Packaging Market is estimated to witness a CAGR of 5.5% from 2023 to 2031

Which is the fastest growing region in Medical Device Packaging Market ?

Asia Pacific region is likely to witness the fastest growth rate during the forecast period.

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 Medical Device Packaging Market - By Application
1.3.2 Medical Device Packaging Market - By Product Type
1.3.3 Medical Device Packaging Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. MEDICAL DEVICE PACKAGING 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. MEDICAL DEVICE PACKAGING 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. MEDICAL DEVICE PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL DEVICE PACKAGING - GLOBAL MARKET OVERVIEW
6.2. MEDICAL DEVICE PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING

7. MEDICAL DEVICE PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. PLASTIC
7.3.1. Overview
7.3.2. Plastic Market Forecast and Analysis
7.4. PAPER AND PAPERBOARD
7.4.1. Overview
7.4.2. Paper and Paperboard Market Forecast and Analysis
7.5. FOILS
7.5.1. Overview
7.5.2. Foils Market Forecast and Analysis
7.6. GLASS
7.6.1. Overview
7.6.2. Glass Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. MEDICAL DEVICE PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. POUCHES
8.3.1. Overview
8.3.2. Pouches Market Forecast and Analysis
8.4. CLAMSHELL PACKS
8.4.1. Overview
8.4.2. Clamshell Packs Market Forecast and Analysis
8.5. BOXES
8.5.1. Overview
8.5.2. Boxes Market Forecast and Analysis
8.6. BAGS
8.6.1. Overview
8.6.2. Bags Market Forecast and Analysis
8.7. BLISTERS
8.7.1. Overview
8.7.2. Blisters Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis

9. MEDICAL DEVICE PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Medical Device Packaging Market Overview
9.1.2 North America Medical Device Packaging Market Forecasts and Analysis
9.1.3 North America Medical Device Packaging Market Forecasts and Analysis - By Application
9.1.4 North America Medical Device Packaging Market Forecasts and Analysis - By Product Type
9.1.5 North America Medical Device Packaging Market Forecasts and Analysis - By Countries
9.1.5.1 United States Medical Device Packaging Market
9.1.5.1.1 United States Medical Device Packaging Market by Application
9.1.5.1.2 United States Medical Device Packaging Market by Product Type
9.1.5.2 Canada Medical Device Packaging Market
9.1.5.2.1 Canada Medical Device Packaging Market by Application
9.1.5.2.2 Canada Medical Device Packaging Market by Product Type
9.1.5.3 Mexico Medical Device Packaging Market
9.1.5.3.1 Mexico Medical Device Packaging Market by Application
9.1.5.3.2 Mexico Medical Device Packaging Market by Product Type
9.2. EUROPE
9.2.1 Europe Medical Device Packaging Market Overview
9.2.2 Europe Medical Device Packaging Market Forecasts and Analysis
9.2.3 Europe Medical Device Packaging Market Forecasts and Analysis - By Application
9.2.4 Europe Medical Device Packaging Market Forecasts and Analysis - By Product Type
9.2.5 Europe Medical Device Packaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Medical Device Packaging Market
9.2.5.1.1 Germany Medical Device Packaging Market by Application
9.2.5.1.2 Germany Medical Device Packaging Market by Product Type
9.2.5.2 France Medical Device Packaging Market
9.2.5.2.1 France Medical Device Packaging Market by Application
9.2.5.2.2 France Medical Device Packaging Market by Product Type
9.2.5.3 Italy Medical Device Packaging Market
9.2.5.3.1 Italy Medical Device Packaging Market by Application
9.2.5.3.2 Italy Medical Device Packaging Market by Product Type
9.2.5.4 Spain Medical Device Packaging Market
9.2.5.4.1 Spain Medical Device Packaging Market by Application
9.2.5.4.2 Spain Medical Device Packaging Market by Product Type
9.2.5.5 United Kingdom Medical Device Packaging Market
9.2.5.5.1 United Kingdom Medical Device Packaging Market by Application
9.2.5.5.2 United Kingdom Medical Device Packaging Market by Product Type
9.2.5.6 Rest of Europe Medical Device Packaging Market
9.2.5.6.1 Rest of Europe Medical Device Packaging Market by Application
9.2.5.6.2 Rest of Europe Medical Device Packaging Market by Product Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Medical Device Packaging Market Overview
9.3.2 Asia-Pacific Medical Device Packaging Market Forecasts and Analysis
9.3.3 Asia-Pacific Medical Device Packaging Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Medical Device Packaging Market Forecasts and Analysis - By Product Type
9.3.5 Asia-Pacific Medical Device Packaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Medical Device Packaging Market
9.3.5.1.1 Australia Medical Device Packaging Market by Application
9.3.5.1.2 Australia Medical Device Packaging Market by Product Type
9.3.5.2 China Medical Device Packaging Market
9.3.5.2.1 China Medical Device Packaging Market by Application
9.3.5.2.2 China Medical Device Packaging Market by Product Type
9.3.5.3 India Medical Device Packaging Market
9.3.5.3.1 India Medical Device Packaging Market by Application
9.3.5.3.2 India Medical Device Packaging Market by Product Type
9.3.5.4 Japan Medical Device Packaging Market
9.3.5.4.1 Japan Medical Device Packaging Market by Application
9.3.5.4.2 Japan Medical Device Packaging Market by Product Type
9.3.5.5 South Korea Medical Device Packaging Market
9.3.5.5.1 South Korea Medical Device Packaging Market by Application
9.3.5.5.2 South Korea Medical Device Packaging Market by Product Type
9.3.5.6 Rest of Asia-Pacific Medical Device Packaging Market
9.3.5.6.1 Rest of Asia-Pacific Medical Device Packaging Market by Application
9.3.5.6.2 Rest of Asia-Pacific Medical Device Packaging Market by Product Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Medical Device Packaging Market Overview
9.4.2 Middle East and Africa Medical Device Packaging Market Forecasts and Analysis
9.4.3 Middle East and Africa Medical Device Packaging Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Medical Device Packaging Market Forecasts and Analysis - By Product Type
9.4.5 Middle East and Africa Medical Device Packaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Medical Device Packaging Market
9.4.5.1.1 South Africa Medical Device Packaging Market by Application
9.4.5.1.2 South Africa Medical Device Packaging Market by Product Type
9.4.5.2 Saudi Arabia Medical Device Packaging Market
9.4.5.2.1 Saudi Arabia Medical Device Packaging Market by Application
9.4.5.2.2 Saudi Arabia Medical Device Packaging Market by Product Type
9.4.5.3 U.A.E Medical Device Packaging Market
9.4.5.3.1 U.A.E Medical Device Packaging Market by Application
9.4.5.3.2 U.A.E Medical Device Packaging Market by Product Type
9.4.5.4 Rest of Middle East and Africa Medical Device Packaging Market
9.4.5.4.1 Rest of Middle East and Africa Medical Device Packaging Market by Application
9.4.5.4.2 Rest of Middle East and Africa Medical Device Packaging Market by Product Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Medical Device Packaging Market Overview
9.5.2 South and Central America Medical Device Packaging Market Forecasts and Analysis
9.5.3 South and Central America Medical Device Packaging Market Forecasts and Analysis - By Application
9.5.4 South and Central America Medical Device Packaging Market Forecasts and Analysis - By Product Type
9.5.5 South and Central America Medical Device Packaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Medical Device Packaging Market
9.5.5.1.1 Brazil Medical Device Packaging Market by Application
9.5.5.1.2 Brazil Medical Device Packaging Market by Product Type
9.5.5.2 Argentina Medical Device Packaging Market
9.5.5.2.1 Argentina Medical Device Packaging Market by Application
9.5.5.2.2 Argentina Medical Device Packaging Market by Product Type
9.5.5.3 Rest of South and Central America Medical Device Packaging Market
9.5.5.3.1 Rest of South and Central America Medical Device Packaging Market by Application
9.5.5.3.2 Rest of South and Central America Medical Device Packaging Market by Product Type

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. MEDICAL DEVICE PACKAGING MARKET, KEY COMPANY PROFILES
11.1. 3M COMPANY
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AMCOR LIMITE
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BERRY GLOBAL INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CCL INDUSTRIES INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CONSTANTIA FLEXIBLES
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DUPONT
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KLöCKNER PENTAPLAST GROUP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MITSUBISHI CHEMICAL HOLDINGS CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WESTROCK COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SONOCO PRODUCTS COMPANY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

1.3M Company
2.Amcor Limite
3.Berry Global Inc.
4.CCL industries INC.
5.Constantia Flexibles
6.DuPont
7.Klöckner Pentaplast Group
8.Mitsubishi Chemical Holdings Corporation
9.WestRock Company
10.Sonoco Products Company

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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