Medical Packaging Films Market Insights and Growth by 2031
Market Overview
Medical packaging films play a critical role in the medical and pharmaceutical industries by providing a safe and effective means of packaging and protecting various medical products, including syringes, catheters, dressings, and other medical devices. These films must meet strict regulatory safety, efficacy, and environmental sustainability requirements. The growing demand for flexible packaging solutions has significantly influenced the medical packaging film market. Flexible packaging provides benefits such as longer shelf life, reduced waste, and increased patient convenience compared to traditional rigid packaging. The growing medical device industry also contributes to the medical packaging film market, as new and improved medical devices require innovative and reliable packaging solutions.
MARKET SCOPE
The "Global Medical Packaging Films Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medical packaging films market with detailed market segmentation by material and application. The report provides key statistics on the medical packaging films market status of the leading medical packaging films market players and offers key trends and opportunities in the medical packaging films market.
MARKET SEGMENTATION
- Based on material, the global medical packaging films market is segmented into polyamide (PA), polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and others.
- Based on application, the medical packaging films market is segmented into bags, tubes, and others.
MARKET DYNAMICS
Drivers:
- The market is attributed to growing technological advancements in terms of sustainable packaging and the most recent innovations in the pharmaceutical area.
- Rising demand for bioplastic materials, is propelling the medical packaging films market forward.
Restraints:
- Price fluctuations in raw materials may hamper the market's expansion. Costs fluctuate due to increased crude oil prices and strong demand from plastic makers, posing a barrier to the market's growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical packaging films market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the medical packaging films market from both demand and supply sides and further evaluates market dynamics affecting the medical packaging films market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical packaging films market in these regions.
IMPACT OF COVID-19 ON MEDICAL PACKAGING FILMS MARKET
The COVID-19 outbreak affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medical packaging films market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the medical packaging films market from both demand and supply sides and further evaluates market dynamics affecting the medical packaging films market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medical packaging films market in these regions.
IMPACT OF COVID-19 ON MEDICAL PACKAGING FILMS MARKET
The COVID-19 outbreak affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the medical packaging films market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the medical packaging films market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medical packaging films market are anticipated to have lucrative growth opportunities with the rising demand for medical packaging films across the globe.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medical packaging films market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amcor
- Berry Global Group
- DuPont
- Weigao Group
- PolyCine
- Covestro AG
- Glenroy
- 3M Company
- Wipak Group
- Renolit SE
- PolyCine
- Spectrum Plastics Group
- Oliver
- Eagle Flexible Packaging
- Printpack Medical
- UFP Technologies
- Folienwerk Wolfen
- Valéron
- Tekni-Films
- Klöckner Pentaplast
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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.
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 Packaging Films Market - By Material
1.3.2 Medical Packaging Films Market - By Application
1.3.3 Medical Packaging Films Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICAL PACKAGING FILMS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. MEDICAL PACKAGING FILMS 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 PACKAGING FILMS MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICAL PACKAGING FILMS - GLOBAL MARKET OVERVIEW
6.2. MEDICAL PACKAGING FILMS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. MEDICAL PACKAGING FILMS MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
7.1. OVERVIEW
7.2. MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. POLYAMIDE (PA)
7.3.1. Overview
7.3.2. Polyamide (PA) Market Forecast and Analysis
7.4. POLYETHYLENE (PE)
7.4.1. Overview
7.4.2. Polyethylene (PE) Market Forecast and Analysis
7.5. POLYPROPYLENE (PP)
7.5.1. Overview
7.5.2. Polypropylene (PP) Market Forecast and Analysis
7.6. POLYVINYL CHLORIDE (PVC)
7.6.1. Overview
7.6.2. Polyvinyl Chloride (PVC) Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. MEDICAL PACKAGING FILMS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BAGS
8.3.1. Overview
8.3.2. Bags Market Forecast and Analysis
8.4. TUBES
8.4.1. Overview
8.4.2. Tubes Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. MEDICAL PACKAGING FILMS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Medical Packaging Films Market Overview
9.1.2 North America Medical Packaging Films Market Forecasts and Analysis
9.1.3 North America Medical Packaging Films Market Forecasts and Analysis - By Material
9.1.4 North America Medical Packaging Films Market Forecasts and Analysis - By Application
9.1.5 North America Medical Packaging Films Market Forecasts and Analysis - By Countries
9.1.5.1 United States Medical Packaging Films Market
9.1.5.1.1 United States Medical Packaging Films Market by Material
9.1.5.1.2 United States Medical Packaging Films Market by Application
9.1.5.2 Canada Medical Packaging Films Market
9.1.5.2.1 Canada Medical Packaging Films Market by Material
9.1.5.2.2 Canada Medical Packaging Films Market by Application
9.1.5.3 Mexico Medical Packaging Films Market
9.1.5.3.1 Mexico Medical Packaging Films Market by Material
9.1.5.3.2 Mexico Medical Packaging Films Market by Application
9.2. EUROPE
9.2.1 Europe Medical Packaging Films Market Overview
9.2.2 Europe Medical Packaging Films Market Forecasts and Analysis
9.2.3 Europe Medical Packaging Films Market Forecasts and Analysis - By Material
9.2.4 Europe Medical Packaging Films Market Forecasts and Analysis - By Application
9.2.5 Europe Medical Packaging Films Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Medical Packaging Films Market
9.2.5.1.1 Germany Medical Packaging Films Market by Material
9.2.5.1.2 Germany Medical Packaging Films Market by Application
9.2.5.2 France Medical Packaging Films Market
9.2.5.2.1 France Medical Packaging Films Market by Material
9.2.5.2.2 France Medical Packaging Films Market by Application
9.2.5.3 Italy Medical Packaging Films Market
9.2.5.3.1 Italy Medical Packaging Films Market by Material
9.2.5.3.2 Italy Medical Packaging Films Market by Application
9.2.5.4 United Kingdom Medical Packaging Films Market
9.2.5.4.1 United Kingdom Medical Packaging Films Market by Material
9.2.5.4.2 United Kingdom Medical Packaging Films Market by Application
9.2.5.5 Russia Medical Packaging Films Market
9.2.5.5.1 Russia Medical Packaging Films Market by Material
9.2.5.5.2 Russia Medical Packaging Films Market by Application
9.2.5.6 Rest of Europe Medical Packaging Films Market
9.2.5.6.1 Rest of Europe Medical Packaging Films Market by Material
9.2.5.6.2 Rest of Europe Medical Packaging Films Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Medical Packaging Films Market Overview
9.3.2 Asia-Pacific Medical Packaging Films Market Forecasts and Analysis
9.3.3 Asia-Pacific Medical Packaging Films Market Forecasts and Analysis - By Material
9.3.4 Asia-Pacific Medical Packaging Films Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Medical Packaging Films Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Medical Packaging Films Market
9.3.5.1.1 Australia Medical Packaging Films Market by Material
9.3.5.1.2 Australia Medical Packaging Films Market by Application
9.3.5.2 China Medical Packaging Films Market
9.3.5.2.1 China Medical Packaging Films Market by Material
9.3.5.2.2 China Medical Packaging Films Market by Application
9.3.5.3 India Medical Packaging Films Market
9.3.5.3.1 India Medical Packaging Films Market by Material
9.3.5.3.2 India Medical Packaging Films Market by Application
9.3.5.4 Japan Medical Packaging Films Market
9.3.5.4.1 Japan Medical Packaging Films Market by Material
9.3.5.4.2 Japan Medical Packaging Films Market by Application
9.3.5.5 South Korea Medical Packaging Films Market
9.3.5.5.1 South Korea Medical Packaging Films Market by Material
9.3.5.5.2 South Korea Medical Packaging Films Market by Application
9.3.5.6 Rest of Asia-Pacific Medical Packaging Films Market
9.3.5.6.1 Rest of Asia-Pacific Medical Packaging Films Market by Material
9.3.5.6.2 Rest of Asia-Pacific Medical Packaging Films Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Medical Packaging Films Market Overview
9.4.2 Middle East and Africa Medical Packaging Films Market Forecasts and Analysis
9.4.3 Middle East and Africa Medical Packaging Films Market Forecasts and Analysis - By Material
9.4.4 Middle East and Africa Medical Packaging Films Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Medical Packaging Films Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Medical Packaging Films Market
9.4.5.1.1 South Africa Medical Packaging Films Market by Material
9.4.5.1.2 South Africa Medical Packaging Films Market by Application
9.4.5.2 Saudi Arabia Medical Packaging Films Market
9.4.5.2.1 Saudi Arabia Medical Packaging Films Market by Material
9.4.5.2.2 Saudi Arabia Medical Packaging Films Market by Application
9.4.5.3 U.A.E Medical Packaging Films Market
9.4.5.3.1 U.A.E Medical Packaging Films Market by Material
9.4.5.3.2 U.A.E Medical Packaging Films Market by Application
9.4.5.4 Rest of Middle East and Africa Medical Packaging Films Market
9.4.5.4.1 Rest of Middle East and Africa Medical Packaging Films Market by Material
9.4.5.4.2 Rest of Middle East and Africa Medical Packaging Films Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Medical Packaging Films Market Overview
9.5.2 South and Central America Medical Packaging Films Market Forecasts and Analysis
9.5.3 South and Central America Medical Packaging Films Market Forecasts and Analysis - By Material
9.5.4 South and Central America Medical Packaging Films Market Forecasts and Analysis - By Application
9.5.5 South and Central America Medical Packaging Films Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Medical Packaging Films Market
9.5.5.1.1 Brazil Medical Packaging Films Market by Material
9.5.5.1.2 Brazil Medical Packaging Films Market by Application
9.5.5.2 Argentina Medical Packaging Films Market
9.5.5.2.1 Argentina Medical Packaging Films Market by Material
9.5.5.2.2 Argentina Medical Packaging Films Market by Application
9.5.5.3 Rest of South and Central America Medical Packaging Films Market
9.5.5.3.1 Rest of South and Central America Medical Packaging Films Market by Material
9.5.5.3.2 Rest of South and Central America Medical Packaging Films Market by Application
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 PACKAGING FILMS MARKET, KEY COMPANY PROFILES
11.1. AMCOR
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. BERRY GLOBAL GROUP
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. DUPONT
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. WEIGAO GROUP
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. POLYCINE
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. COVESTRO AG
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. GLENROY
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. 3M COMPANY
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. WIPAK GROUP
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. RENOLIT SE
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
11.11. POLYCINE
11.11.1. Key Facts
11.11.2. Business Description
11.11.3. Products and Services
11.11.4. Financial Overview
11.11.5. SWOT Analysis
11.11.6. Key Developments
11.12. SPECTRUM PLASTICS GROUP
11.12.1. Key Facts
11.12.2. Business Description
11.12.3. Products and Services
11.12.4. Financial Overview
11.12.5. SWOT Analysis
11.12.6. Key Developments
11.13. OLIVER
11.13.1. Key Facts
11.13.2. Business Description
11.13.3. Products and Services
11.13.4. Financial Overview
11.13.5. SWOT Analysis
11.13.6. Key Developments
11.14. EAGLE FLEXIBLE PACKAGING
11.14.1. Key Facts
11.14.2. Business Description
11.14.3. Products and Services
11.14.4. Financial Overview
11.14.5. SWOT Analysis
11.14.6. Key Developments
11.15. PRINTPACK MEDICAL
11.15.1. Key Facts
11.15.2. Business Description
11.15.3. Products and Services
11.15.4. Financial Overview
11.15.5. SWOT Analysis
11.15.6. Key Developments
11.16. UFP TECHNOLOGIES
11.16.1. Key Facts
11.16.2. Business Description
11.16.3. Products and Services
11.16.4. Financial Overview
11.16.5. SWOT Analysis
11.16.6. Key Developments
11.17. FOLIENWERK WOLFEN
11.17.1. Key Facts
11.17.2. Business Description
11.17.3. Products and Services
11.17.4. Financial Overview
11.17.5. SWOT Analysis
11.17.6. Key Developments
11.18. VALéRON
11.18.1. Key Facts
11.18.2. Business Description
11.18.3. Products and Services
11.18.4. Financial Overview
11.18.5. SWOT Analysis
11.18.6. Key Developments
11.19. TEKNI-FILMS
11.19.1. Key Facts
11.19.2. Business Description
11.19.3. Products and Services
11.19.4. Financial Overview
11.19.5. SWOT Analysis
11.19.6. Key Developments
11.20. KLöCKNER PENTAPLAST
11.20.1. Key Facts
11.20.2. Business Description
11.20.3. Products and Services
11.20.4. Financial Overview
11.20.5. SWOT Analysis
11.20.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
- Amcor
- Berry Global Group
- DuPont
- Weigao Group
- PolyCine
- Covestro AG
- Glenroy
- 3M Company
- Wipak Group
- Renolit SE
- PolyCine
- Spectrum Plastics Group
- Oliver
- Eagle Flexible Packaging
- Printpack Medical
- UFP Technologies
- Folienwerk Wolfen
- Valéron
- Tekni-Films
- Klöckner Pentaplast
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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