Orthobiologics Market Size 2031 | Drivers and Opportunities
The Orthobiologics 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 is segmented Product (Demineralized Bone Matrices, Viscosupplementation Products, Synthetic Orthobiologics, Allografts, Bone Morphogenic Protein and Others); Application (Spinal Fusion, Osteoarthritis & Degenerative Arthritis, Soft-Tissue Injuries, Fracture Recovery and Others); End User (Hospitals, Orthopedic Clinics, Ambulatory Care Centers and Other End Users) . 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 Orthobiologics 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.
Orthobiologics Market Segmentation
Product- Demineralized Bone Matrices
- Viscosupplementation Products
- Synthetic Orthobiologics
- Allografts
- Bone Morphogenic Protein and Others
- Spinal Fusion
- Osteoarthritis & Degenerative Arthritis
- Soft-Tissue Injuries
- Fracture Recovery and Others
- Hospitals
- Orthopedic Clinics
- Ambulatory Care Centers and Other End Users
Strategic Insights
Orthobiologics Market Growth Drivers- Rising Incidence of Sports Injuries:
More people are engaged in sports and exercise, which has led to a corresponding increase in the number of injuries associated with these activities. This rise has created a need for orthobiologic therapies like platelet-rich plasma (PRP) and other regenerative medicine approaches that will accelerate recovery and improve results for patients. Orthobiologics have the advantage of helping patients heal faster, which is a very beneficial feature in the world of sports.
- Increased Awareness and Acceptance:
Orthobiologics is an area of growing interest, both from the side of patients and healthcare professionals. With the growing body of evidence-based clinical studies proving the effectiveness of these treatments, the acceptance of these modalities is on the rise. The changes in the way closure is viewed are making the clinical practice uptake rates very high.
- Increased Research and Development:
The expanding and transforming orthobiologics market cannot be done without emphasizing the importance of research and development (R&D). The R&D initiatives are aimed at creating new orthobiologics products with broader applications in orthopedic ailments. Such research endeavors have resulted in innovative products, including but not limited to advanced stem cell therapies, growth factors, and biomaterials. The launch of those products is vital for the improvement of patient care as well as that of health practitioners, which in turn increases the size of the market. R&D activities are central to the practices of the orthobiologics market and encompass everything from product development to attaining necessary policies for the production and selling of products in new territories. Research is still ongoing, and now, science helps direct the practice of medicine and orthopedics. It is likely that as time progresses, such treatments will benefit the healthcare providers as much as the patients.
- Technological Advancements:
The orthobiologics market is undergoing substantial changes due to innovations within the field of biotechnology. Progress in cell therapy, tissue engineering, and the use of biomaterials results in a more effective and selective treatment. For instance, the application of 3D printing technology is becoming more popular in the production of custom-made implants and scaffolds, thus enhancing their compatibility with the existing biological tissues of the patient.
- Focus on Regenerative Medicine:
In the orthobiologics field, there is an increasing focus on regenerative medicine. Treatments that enhance healing and tissue repair, such as stem cell therapies and platelet-rich plasma (PRP) therapies, are on the rise in popularity. This is also based on clinical evidence accumulating over time that shows how effective these regenerative techniques are in the management of musculoskeletal injuries.
- Rising Demand for Hyaluronic Acid:
Through the evolution of orthobiologics, hyaluronic acid (HA) has emerged as a top product segment. This is because HA has been found to be helpful, for instance, in the treatment of osteoarthritis. There is an increasing demand for HA injections primarily because they help relieve pain and enhance the function of the joints; thus, many patients seeking alternatives to surgery prefer these injections.
- Expanding Applications:
Orthobiologics are used in many more areas than the previous focus on orthopedic surgery, sports medicine, trauma, and reconstruction. The adaptability of such products leads to broader market reach and the possibility to tackle a variety of musculoskeletal disorders.
- Emerging Markets:
Emerging markets offer a growing opportunity, especially in regions such as Asia-Pacific and Latin America. With the improvement and expansion of healthcare infrastructure and the growing awareness of advanced treatment options, these markets will likely experience an increase in the demand for orthobiologics. Organizations strategically tasking themselves to enter these markets stand to gain from minor to no competition with the added prospect of a growing population of patients.
- Regulatory Support:
The growing acceptance of orthobiologics is exacerbated by the business-friendly policies in place for the approval and commercialization of new orthobiologic products. Concise processes for the approval of biologics and regenerative therapies have spurred enhancements and allowed for the speedy deployment of new solutions by the companies.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Orthobiologics 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 Orthobiologics 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
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to country scope.
Frequently Asked Questions
The market is expected to grow at a CAGR of 5.5%
Rising Incidence of Sports Injuries is the major factors boosting the Orthobiologics market growth
The North America region accounts for highest revenue share Orthobiologics market
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional
/
country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Medtronic, Johnson & Johnson Services Inc, Stryker, Zimmer Biomet, are the major companies operating in the Orthobiologics market
1.1. SCOPE OF STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2. KEY TAKEAWAYS
3. ORTHOBIOLOGICS MARKET LANDSCAPE
3.1. MARKET OVERVIEW
3.2. MARKET SEGMENTATION
3.2.1. Orthobiologics Market - By Product
3.2.2. Orthobiologics Market - By Application
3.2.3. Orthobiologics Market - By End User
3.2.4. Orthobiologics Market - By Region
3.2.4.1. By Country
3.3. PEST ANALYSIS
3.3.1. North America - PEST Analysis
3.3.2. Europe - PEST Analysis
3.3.3. Asia Pacific - PEST Analysis
3.3.4. Middle East and Africa - PEST Analysis
3.3.5. South and Central America - PEST Analysis
4. ORTHOBIOLOGICS MARKET - KEY INDUSTRY DYNAMICS
4.1. KEY MARKET DRIVERS
4.2. KEY MARKET RESTRAINTS
4.3. KEY MARKET OPPORTUNITIES
4.4. FUTURE TRENDS
4.5. IMPACT ANALYSIS
5. ORTHOBIOLOGICS MARKET - GLOBAL ANALYSIS
5.1. GLOBAL ORTHOBIOLOGICS MARKET OVERVIEW
5.2. GLOBAL ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
5.3. MARKET POSITIONING/MARKET SHARE
5.4. PERFORMANCE OF KEY PLAYERS
5.5. EXPERT OPINIONS
6. ORTHOBIOLOGICS MARKET- GLOBAL REGULATORY SCENARIO
6.1. OVERVIEW
6.2. NORTH AMERICA
6.3. EUROPE
6.4. ASIA PACIFIC
6.5. MIDDLE EAST & AFRICA
6.6. SOUTH AND CENTRAL AMERICA
7. ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - PRODUCT (US$ MN)
7.1. OVERVIEW
7.2. PRODUCT MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
7.3. DEMINERALIZED BONE MATRICES MARKET
7.3.1. Overview
7.3.2. Demineralized Bone Matrices Market Revenue Forecasts and Analysis (US$ Mn)
7.4. VISCOSUPPLEMENTATION PRODUCTS MARKET
7.4.1. Overview
7.4.2. Viscosupplementation Products Market Revenue Forecasts and Analysis (US$ Mn)
7.5. SYNTHETIC ORTHOBIOLOGICS MARKET
7.5.1. Overview
7.5.2. Synthetic Orthobiologics Market Revenue Forecasts and Analysis (US$ Mn)
7.6. ALLOGRAFTS MARKET
7.6.1. Overview
7.6.2. Allografts Market Revenue Forecasts and Analysis (US$ Mn)
7.7. BONE MORPHOGENIC PROTEIN MARKET
7.7.1. Overview
7.7.2. Bone Morphogenic Protein Market Revenue Forecasts and Analysis (US$ Mn)
7.8. OTHERS MARKET
7.8.1. Overview
7.8.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
8. ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION (US$ MN)
8.1. OVERVIEW
8.2. APPLICATION MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
8.3. SPINAL FUSION MARKET
8.3.1. Overview
8.3.2. Spinal Fusion Market Revenue Forecasts and Analysis (US$ Mn)
8.4. OSTEOARTHRITIS & DEGENERATIVE ARTHRITIS MARKET
8.4.1. Overview
8.4.2. Osteoarthritis & Degenerative Arthritis Market Revenue Forecasts and Analysis (US$ Mn)
8.5. SOFT-TISSUE INJURIES MARKET
8.5.1. Overview
8.5.2. Soft-Tissue Injuries Market Revenue Forecasts and Analysis (US$ Mn)
8.6. FRACTURE RECOVERY MARKET
8.6.1. Overview
8.6.2. Fracture Recovery Market Revenue Forecasts and Analysis (US$ Mn)
8.7. OTHERS MARKET
8.7.1. Overview
8.7.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
9. ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - END USER (US$ MN)
9.1. OVERVIEW
9.2. END USER MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
9.3. HOSPITALS MARKET
9.3.1. Overview
9.3.2. Hospitals Market Revenue Forecasts and Analysis (US$ Mn)
9.4. ORTHOPEDIC CLINICS MARKET
9.4.1. Overview
9.4.2. Orthopedic Clinics Market Revenue Forecasts and Analysis (US$ Mn)
9.5. AMBULATORY CARE CENTERS MARKET
9.5.1. Overview
9.5.2. Ambulatory Care Centers Market Revenue Forecasts and Analysis (US$ Mn)
9.6. OTHER END USERS MARKET
9.6.1. Overview
9.6.2. Other End Users Market Revenue Forecasts and Analysis (US$ Mn)
10. NORTH AMERICA ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
10.1. NORTH AMERICA ORTHOBIOLOGICS MARKET OVERVIEW
10.2. NORTH AMERICA ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
10.3. NORTH AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY PRODUCT (US$ MN)
10.4. NORTH AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY APPLICATION (US$ MN)
10.5. NORTH AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
10.6. NORTH AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
10.7. US MARKET OVERVIEW
10.7.1. US Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
10.7.2. US Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
10.7.3. US Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
10.8. CANADA MARKET OVERVIEW
10.8.1. Canada Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
10.8.2. Canada Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
10.8.3. Canada Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
10.9. MEXICO MARKET OVERVIEW
10.9.1. Mexico Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
10.9.2. Mexico Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
10.9.3. Mexico Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11. EUROPE ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
11.1. EUROPE ORTHOBIOLOGICS MARKET OVERVIEW
11.2. EUROPE ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
11.3. EUROPE MARKET REVENUE FORECASTS AND ANALYSIS - BY PRODUCT (US$ MN)
11.4. EUROPE MARKET REVENUE FORECASTS AND ANALYSIS - BY APPLICATION (US$ MN)
11.5. EUROPE MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
11.6. EUROPE MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
11.7. UK MARKET OVERVIEW
11.7.1. UK Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
11.7.2. UK Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
11.7.3. UK Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11.8. GERMANY MARKET OVERVIEW
11.8.1. Germany Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
11.8.2. Germany Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
11.8.3. Germany Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
11.9. FRANCE MARKET OVERVIEW
11.9.1. France Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
11.9.2. France Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
11.9.3. France Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
12. ASIA PACIFIC ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
12.1. ASIA PACIFIC ORTHOBIOLOGICS MARKET OVERVIEW
12.2. ASIA PACIFIC ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
12.3. ASIA PACIFIC MARKET REVENUE FORECASTS AND ANALYSIS - BY PRODUCT (US$ MN)
12.4. ASIA PACIFIC MARKET REVENUE FORECASTS AND ANALYSIS - BY APPLICATION (US$ MN)
12.5. ASIA PACIFIC MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
12.6. ASIA PACIFIC MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
12.7. JAPAN MARKET OVERVIEW
12.7.1. Japan Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
12.7.2. Japan Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
12.7.3. Japan Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
12.8. CHINA MARKET OVERVIEW
12.8.1. China Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
12.8.2. China Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
12.8.3. China Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
12.9. INDIA MARKET OVERVIEW
12.9.1. India Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
12.9.2. India Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
12.9.3. India Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
13. MIDDLE EAST AND AFRICA (MEA) ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
13.1. MIDDLE EAST AND AFRICA (MEA) ORTHOBIOLOGICS MARKET OVERVIEW
13.2. MIDDLE EAST AND AFRICA (MEA) ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
13.3. MIDDLE EAST AND AFRICA (MEA) MARKET REVENUE FORECASTS AND ANALYSIS - BY PRODUCT (US$ MN)
13.4. MIDDLE EAST AND AFRICA (MEA) MARKET REVENUE FORECASTS AND ANALYSIS - BY APPLICATION (US$ MN)
13.5. MIDDLE EAST AND AFRICA (MEA) MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
13.6. MIDDLE EAST AND AFRICA (MEA) MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
13.7. SOUTH AFRICA MARKET OVERVIEW
13.7.1. South Africa Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
13.7.2. South Africa Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
13.7.3. South Africa Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
13.8. SAUDI ARABIA MARKET OVERVIEW
13.8.1. Saudi Arabia Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
13.8.2. Saudi Arabia Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
13.8.3. Saudi Arabia Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
13.9. UAE MARKET OVERVIEW
13.9.1. UAE Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
13.9.2. UAE Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
13.9.3. UAE Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
14. SOUTH AND CENTRAL AMERICA ORTHOBIOLOGICS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
14.1. SOUTH AND CENTRAL AMERICA ORTHOBIOLOGICS MARKET OVERVIEW
14.2. SOUTH AND CENTRAL AMERICA ORTHOBIOLOGICS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
14.3. SOUTH AND CENTRAL AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY PRODUCT (US$ MN)
14.4. SOUTH AND CENTRAL AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY APPLICATION (US$ MN)
14.5. SOUTH AND CENTRAL AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY END USER (US$ MN)
14.6. SOUTH AND CENTRAL AMERICA MARKET REVENUE FORECASTS AND ANALYSIS - BY COUNTRY
14.7. BRAZIL MARKET OVERVIEW
14.7.1. Brazil Orthobiologics Market Revenue Forecasts and Analysis-By Product (US$ Mn)
14.7.2. Brazil Orthobiologics Market Revenue Forecasts and Analysis-By Application (US$ Mn)
14.7.3. Brazil Orthobiologics Market Revenue Forecasts and Analysis-By End User (US$ Mn)
15. INDUSTRY LANDSCAPE
15.1. ORGANIC GROWTH STRATEGIES
15.1.1. New Product Launches
15.1.2. Marketing & Promotional Activities
15.2. INORGANIC GROWTH STRATEGIES
15.2.1. Partnerships, Collaborations, and Joint Ventures
15.2.2. Mergers & Acquisitions
16. ORTHOBIOLOGICS MARKET, KEY COMPANY PROFILES
16.1. MEDTRONIC
16.1.1. Key Facts
16.1.2. Business Description
16.1.3. Financial Overview
16.1.4. Product Portfolio
16.1.5. Product Pipeline
16.1.6. SWOT Analysis
16.1.7. Key Developments
16.2. JOHNSON & JOHNSON SERVICES, INC.
16.2.1. Key Facts
16.2.2. Business Description
16.2.3. Financial Overview
16.2.4. Product Portfolio
16.2.5. Product Pipeline
16.2.6. SWOT Analysis
16.2.7. Key Developments
16.3. STRYKER
16.3.1. Key Facts
16.3.2. Business Description
16.3.3. Financial Overview
16.3.4. Product Portfolio
16.3.5. Product Pipeline
16.3.6. SWOT Analysis
16.3.7. Key Developments
16.4. ZIMMER BIOMET
16.4.1. Key Facts
16.4.2. Business Description
16.4.3. Financial Overview
16.4.4. Product Portfolio
16.4.5. Product Pipeline
16.4.6. SWOT Analysis
16.4.7. Key Developments
16.5. GLOBUS MEDICAL, INC.
16.5.1. Key Facts
16.5.2. Business Description
16.5.3. Financial Overview
16.5.4. Product Portfolio
16.5.5. Product Pipeline
16.5.6. SWOT Analysis
16.5.7. Key Developments
16.6. ORTHOFIX INTERNATIONAL N.V.
16.6.1. Key Facts
16.6.2. Business Description
16.6.3. Financial Overview
16.6.4. Product Portfolio
16.6.5. Product Pipeline
16.6.6. SWOT Analysis
16.6.7. Key Developments
16.7. RTI SURGICAL, INC.
16.7.1. Key Facts
16.7.2. Business Description
16.7.3. Financial Overview
16.7.4. Product Portfolio
16.7.5. Product Pipeline
16.7.6. SWOT Analysis
16.7.7. Key Developments
16.8. KUROS BIOSCIENCES LTD.
16.8.1. Key Facts
16.8.2. Business Description
16.8.3. Financial Overview
16.8.4. Product Portfolio
16.8.5. Product Pipeline
16.8.6. SWOT Analysis
16.8.7. Key Developments
16.9. K2M GROUP HOLDINGS, INC.
16.9.1. Key Facts
16.9.2. Business Description
16.9.3. Financial Overview
16.9.4. Product Portfolio
16.9.5. Product Pipeline
16.9.6. SWOT Analysis
16.9.7. Key Developments
16.10. NUVASIVE, INC.
16.10.1. Key Facts
16.10.2. Business Description
16.10.3. Financial Overview
16.10.4. Product Portfolio
16.10.5. Product Pipeline
16.10.6. SWOT Analysis
16.10.7. Key Developments
17. APPENDIX
17.1. ABOUT THE INSIGHT PARTNERS
17.2. GLOSSARY OF TERMS
17.3. RESEARCH METHODOLOGY
1. Medtronic
2. Johnson & Johnson Services, Inc.
3. Stryker
4. Zimmer Biomet
5. Globus Medical, Inc.
6. Orthofix International N.V.
7. RTI Surgical, Inc.
8. Kuros Biosciences Ltd.
9. K2M Group Holdings, Inc.
10. Nuvasive, Inc.
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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