The Organs-on-chips Market is expected to register a CAGR of 37.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented based on Type (Liver-on-chip, Kidney-on-chip, Lung-on-chip, Heart-on-chip and Other Organs); Offerings (Product and Services); Application (Physiological Model Development, Drug Discovery and Toxicology Research); End User (Pharmaceuticals and Biotechnology Companies, Academic and Research Institutes, Cosmetic Industry and Other End Users.). The global analysis is further broken down at the regional level and major countries. The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Organs-on-chips 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.
Organs-on-chips Market Segmentation
Type- Liver-on-chip
- Kidney-on-chip
- Lung-on-chip
- Heart-on-chip and Other Organs
- Product and Services
- Physiological Model Development
- Drug Discovery and Toxicology Research
- Pharmaceuticals and Biotechnology Companies
- Academic and Research Institutes
- Cosmetic Industry
Strategic Insights
Organs-on-chips Market Growth Drivers- Rising Demand for Drug Discovery & Development: Organs-on-chips provide a more physiologically relevant platform for drug screening and toxicity testing, reducing reliance on animal models and accelerating the drug development process.
- Increasing Prevalence of Chronic Diseases: The growing burden of chronic diseases like cancer, diabetes, and neurodegenerative disorders necessitates better disease modeling tools, which organs-on-chips can provide for personalized medicine approaches.
- Advancements in Microfabrication & Bioengineering: Technological advancements in microfluidics, biomaterials, and 3D cell culture techniques are enabling the creation of increasingly sophisticated and complex organ-on-chip models.
- Integration with Artificial Intelligence (AI) & Machine Learning (ML): AI/ML algorithms can analyze complex data generated by organs-on-chips, enabling predictive modeling, personalized medicine, and accelerated drug discovery.
- Development of Body-on-a-Chip Systems: Connecting multiple organ-on-chip models to create "body-on-a-chip" systems will allow for more comprehensive studies of systemic diseases and drug interactions.
- Patient-Derived Organ-on-Chips: Utilizing patient-specific cells to create personalized organ-on-chip models will enable precision medicine approaches and improve the prediction of individual responses to drugs.
- Personalized Medicine: Organs-on-chips can be used to develop personalized medicine strategies by creating patient-specific models for drug testing and disease modeling.
- Toxicology Testing: Replacing animal models with organs-on-chips for toxicity testing can reduce the use of animals in research and provide more human-relevant data.
- Disease Modeling: Organs-on-chips can be used to study the mechanisms of various diseases, leading to a better understanding of disease progression and the development of new therapies.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Organs-on-chips 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 Organs-on-chips 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
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players are: Organovo, Hepregen, Hurel Corporation, Nortis, TissUse, Tara Biosystems, AxoSim, Emulate Inc., CN Bio Innovations., MIMETAS.
The future trends of the Organs-on-chips Market are: Integration with Artificial Intelligence (AI) & Machine Learning (ML), Development of Body-on-a-Chip Systems and Patient-Derived Organ-on-Chips
Organs-on-chips Market is expected to grow at a CAGR of 37.5% between 2023-2031
The driving factors impacting the Organs-on-chips Market are: Rising Demand for Drug Discovery & Development, Increasing Prevalence of Chronic Diseases and Advancements in Microfabrication & Bioengineering
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Organs-on-chips Market - By Type
1.3.2 Organs-on-chips Market - By Offerings
1.3.3 Organs-on-chips Market - By Application
1.3.4 Organs-on-chips Market - By End User
1.3.5 Organs-on-chips Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ORGANS-ON-CHIPS 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. ORGANS-ON-CHIPS 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. ORGANS-ON-CHIPS MARKET - GLOBAL MARKET ANALYSIS
6.1. ORGANS-ON-CHIPS - GLOBAL MARKET OVERVIEW
6.2. ORGANS-ON-CHIPS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ORGANS-ON-CHIPS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LIVER-ON-CHIP
7.3.1. Overview
7.3.2. Liver-on-chip Market Forecast and Analysis
7.4. KIDNEY-ON-CHIP
7.4.1. Overview
7.4.2. Kidney-on-chip Market Forecast and Analysis
7.5. LUNG-ON-CHIP
7.5.1. Overview
7.5.2. Lung-on-chip Market Forecast and Analysis
7.6. HEART-ON-CHIP
7.6.1. Overview
7.6.2. Heart-on-chip Market Forecast and Analysis
7.7. OTHER ORGANS
7.7.1. Overview
7.7.2. Other Organs Market Forecast and Analysis
8. ORGANS-ON-CHIPS MARKET - REVENUE AND FORECASTS TO 2028 - OFFERINGS
8.1. OVERVIEW
8.2. OFFERINGS MARKET FORECASTS AND ANALYSIS
8.3. PRODUCT
8.3.1. Overview
8.3.2. Product Market Forecast and Analysis
8.4. SERVICES
8.4.1. Overview
8.4.2. Services Market Forecast and Analysis
9. ORGANS-ON-CHIPS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PHYSIOLOGICAL MODEL DEVELOPMENT
9.3.1. Overview
9.3.2. Physiological Model Development Market Forecast and Analysis
9.4. DRUG DISCOVERY
9.4.1. Overview
9.4.2. Drug Discovery Market Forecast and Analysis
9.5. TOXICOLOGY RESEARCH
9.5.1. Overview
9.5.2. Toxicology Research Market Forecast and Analysis
10. ORGANS-ON-CHIPS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. PHARMACEUTICALS AND BIOTECHNOLOGY COMPANIES
10.3.1. Overview
10.3.2. Pharmaceuticals and Biotechnology Companies Market Forecast and Analysis
10.4. ACADEMIC AND RESEARCH INSTITUTES
10.4.1. Overview
10.4.2. Academic and Research Institutes Market Forecast and Analysis
10.5. COSMETIC INDUSTRY
10.5.1. Overview
10.5.2. Cosmetic Industry Market Forecast and Analysis
10.6. OTHER END USERS
10.6.1. Overview
10.6.2. Other End Users Market Forecast and Analysis
11. ORGANS-ON-CHIPS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Organs-on-chips Market Overview
11.1.2 North America Organs-on-chips Market Forecasts and Analysis
11.1.3 North America Organs-on-chips Market Forecasts and Analysis - By Type
11.1.4 North America Organs-on-chips Market Forecasts and Analysis - By Offerings
11.1.5 North America Organs-on-chips Market Forecasts and Analysis - By Application
11.1.6 North America Organs-on-chips Market Forecasts and Analysis - By End User
11.1.7 North America Organs-on-chips Market Forecasts and Analysis - By Countries
11.1.7.1 United States Organs-on-chips Market
11.1.7.1.1 United States Organs-on-chips Market by Type
11.1.7.1.2 United States Organs-on-chips Market by Offerings
11.1.7.1.3 United States Organs-on-chips Market by Application
11.1.7.1.4 United States Organs-on-chips Market by End User
11.1.7.2 Canada Organs-on-chips Market
11.1.7.2.1 Canada Organs-on-chips Market by Type
11.1.7.2.2 Canada Organs-on-chips Market by Offerings
11.1.7.2.3 Canada Organs-on-chips Market by Application
11.1.7.2.4 Canada Organs-on-chips Market by End User
11.1.7.3 Mexico Organs-on-chips Market
11.1.7.3.1 Mexico Organs-on-chips Market by Type
11.1.7.3.2 Mexico Organs-on-chips Market by Offerings
11.1.7.3.3 Mexico Organs-on-chips Market by Application
11.1.7.3.4 Mexico Organs-on-chips Market by End User
11.2. EUROPE
11.2.1 Europe Organs-on-chips Market Overview
11.2.2 Europe Organs-on-chips Market Forecasts and Analysis
11.2.3 Europe Organs-on-chips Market Forecasts and Analysis - By Type
11.2.4 Europe Organs-on-chips Market Forecasts and Analysis - By Offerings
11.2.5 Europe Organs-on-chips Market Forecasts and Analysis - By Application
11.2.6 Europe Organs-on-chips Market Forecasts and Analysis - By End User
11.2.7 Europe Organs-on-chips Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Organs-on-chips Market
11.2.7.1.1 Germany Organs-on-chips Market by Type
11.2.7.1.2 Germany Organs-on-chips Market by Offerings
11.2.7.1.3 Germany Organs-on-chips Market by Application
11.2.7.1.4 Germany Organs-on-chips Market by End User
11.2.7.2 France Organs-on-chips Market
11.2.7.2.1 France Organs-on-chips Market by Type
11.2.7.2.2 France Organs-on-chips Market by Offerings
11.2.7.2.3 France Organs-on-chips Market by Application
11.2.7.2.4 France Organs-on-chips Market by End User
11.2.7.3 Italy Organs-on-chips Market
11.2.7.3.1 Italy Organs-on-chips Market by Type
11.2.7.3.2 Italy Organs-on-chips Market by Offerings
11.2.7.3.3 Italy Organs-on-chips Market by Application
11.2.7.3.4 Italy Organs-on-chips Market by End User
11.2.7.4 Spain Organs-on-chips Market
11.2.7.4.1 Spain Organs-on-chips Market by Type
11.2.7.4.2 Spain Organs-on-chips Market by Offerings
11.2.7.4.3 Spain Organs-on-chips Market by Application
11.2.7.4.4 Spain Organs-on-chips Market by End User
11.2.7.5 United Kingdom Organs-on-chips Market
11.2.7.5.1 United Kingdom Organs-on-chips Market by Type
11.2.7.5.2 United Kingdom Organs-on-chips Market by Offerings
11.2.7.5.3 United Kingdom Organs-on-chips Market by Application
11.2.7.5.4 United Kingdom Organs-on-chips Market by End User
11.2.7.6 Rest of Europe Organs-on-chips Market
11.2.7.6.1 Rest of Europe Organs-on-chips Market by Type
11.2.7.6.2 Rest of Europe Organs-on-chips Market by Offerings
11.2.7.6.3 Rest of Europe Organs-on-chips Market by Application
11.2.7.6.4 Rest of Europe Organs-on-chips Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Organs-on-chips Market Overview
11.3.2 Asia-Pacific Organs-on-chips Market Forecasts and Analysis
11.3.3 Asia-Pacific Organs-on-chips Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Organs-on-chips Market Forecasts and Analysis - By Offerings
11.3.5 Asia-Pacific Organs-on-chips Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Organs-on-chips Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Organs-on-chips Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Organs-on-chips Market
11.3.7.1.1 Australia Organs-on-chips Market by Type
11.3.7.1.2 Australia Organs-on-chips Market by Offerings
11.3.7.1.3 Australia Organs-on-chips Market by Application
11.3.7.1.4 Australia Organs-on-chips Market by End User
11.3.7.2 China Organs-on-chips Market
11.3.7.2.1 China Organs-on-chips Market by Type
11.3.7.2.2 China Organs-on-chips Market by Offerings
11.3.7.2.3 China Organs-on-chips Market by Application
11.3.7.2.4 China Organs-on-chips Market by End User
11.3.7.3 India Organs-on-chips Market
11.3.7.3.1 India Organs-on-chips Market by Type
11.3.7.3.2 India Organs-on-chips Market by Offerings
11.3.7.3.3 India Organs-on-chips Market by Application
11.3.7.3.4 India Organs-on-chips Market by End User
11.3.7.4 Japan Organs-on-chips Market
11.3.7.4.1 Japan Organs-on-chips Market by Type
11.3.7.4.2 Japan Organs-on-chips Market by Offerings
11.3.7.4.3 Japan Organs-on-chips Market by Application
11.3.7.4.4 Japan Organs-on-chips Market by End User
11.3.7.5 South Korea Organs-on-chips Market
11.3.7.5.1 South Korea Organs-on-chips Market by Type
11.3.7.5.2 South Korea Organs-on-chips Market by Offerings
11.3.7.5.3 South Korea Organs-on-chips Market by Application
11.3.7.5.4 South Korea Organs-on-chips Market by End User
11.3.7.6 Rest of Asia-Pacific Organs-on-chips Market
11.3.7.6.1 Rest of Asia-Pacific Organs-on-chips Market by Type
11.3.7.6.2 Rest of Asia-Pacific Organs-on-chips Market by Offerings
11.3.7.6.3 Rest of Asia-Pacific Organs-on-chips Market by Application
11.3.7.6.4 Rest of Asia-Pacific Organs-on-chips Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Organs-on-chips Market Overview
11.4.2 Middle East and Africa Organs-on-chips Market Forecasts and Analysis
11.4.3 Middle East and Africa Organs-on-chips Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Organs-on-chips Market Forecasts and Analysis - By Offerings
11.4.5 Middle East and Africa Organs-on-chips Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Organs-on-chips Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Organs-on-chips Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Organs-on-chips Market
11.4.7.1.1 South Africa Organs-on-chips Market by Type
11.4.7.1.2 South Africa Organs-on-chips Market by Offerings
11.4.7.1.3 South Africa Organs-on-chips Market by Application
11.4.7.1.4 South Africa Organs-on-chips Market by End User
11.4.7.2 Saudi Arabia Organs-on-chips Market
11.4.7.2.1 Saudi Arabia Organs-on-chips Market by Type
11.4.7.2.2 Saudi Arabia Organs-on-chips Market by Offerings
11.4.7.2.3 Saudi Arabia Organs-on-chips Market by Application
11.4.7.2.4 Saudi Arabia Organs-on-chips Market by End User
11.4.7.3 U.A.E Organs-on-chips Market
11.4.7.3.1 U.A.E Organs-on-chips Market by Type
11.4.7.3.2 U.A.E Organs-on-chips Market by Offerings
11.4.7.3.3 U.A.E Organs-on-chips Market by Application
11.4.7.3.4 U.A.E Organs-on-chips Market by End User
11.4.7.4 Rest of Middle East and Africa Organs-on-chips Market
11.4.7.4.1 Rest of Middle East and Africa Organs-on-chips Market by Type
11.4.7.4.2 Rest of Middle East and Africa Organs-on-chips Market by Offerings
11.4.7.4.3 Rest of Middle East and Africa Organs-on-chips Market by Application
11.4.7.4.4 Rest of Middle East and Africa Organs-on-chips Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Organs-on-chips Market Overview
11.5.2 South and Central America Organs-on-chips Market Forecasts and Analysis
11.5.3 South and Central America Organs-on-chips Market Forecasts and Analysis - By Type
11.5.4 South and Central America Organs-on-chips Market Forecasts and Analysis - By Offerings
11.5.5 South and Central America Organs-on-chips Market Forecasts and Analysis - By Application
11.5.6 South and Central America Organs-on-chips Market Forecasts and Analysis - By End User
11.5.7 South and Central America Organs-on-chips Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Organs-on-chips Market
11.5.7.1.1 Brazil Organs-on-chips Market by Type
11.5.7.1.2 Brazil Organs-on-chips Market by Offerings
11.5.7.1.3 Brazil Organs-on-chips Market by Application
11.5.7.1.4 Brazil Organs-on-chips Market by End User
11.5.7.2 Argentina Organs-on-chips Market
11.5.7.2.1 Argentina Organs-on-chips Market by Type
11.5.7.2.2 Argentina Organs-on-chips Market by Offerings
11.5.7.2.3 Argentina Organs-on-chips Market by Application
11.5.7.2.4 Argentina Organs-on-chips Market by End User
11.5.7.3 Rest of South and Central America Organs-on-chips Market
11.5.7.3.1 Rest of South and Central America Organs-on-chips Market by Type
11.5.7.3.2 Rest of South and Central America Organs-on-chips Market by Offerings
11.5.7.3.3 Rest of South and Central America Organs-on-chips Market by Application
11.5.7.3.4 Rest of South and Central America Organs-on-chips Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ORGANS-ON-CHIPS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. ORGANS-ON-CHIPS MARKET, KEY COMPANY PROFILES
14.1. ORGANOVO
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. HEPREGEN
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. HUREL CORPORATION
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. NORTIS
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. TISSUSE
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. TARA BIOSYSTEMS
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. AXOSIM
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. EMULATE INC.
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. CN BIO INNOVATIONS.
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. MIMETAS
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Organovo
2. Hepregen
3. Hurel Corporation
4. Nortis
5. TissUse
6. Tara Biosystems
7. AxoSim
8. Emulate Inc.
9. CN Bio Innovations.
10. MIMETAS.
11. Netri
12. Allevi.
13. Tara Biosystems Inc.
14. Altis Biosystems
15. InSphero AG
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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