Orthopedic Orthotics Market - Size and Forecast 2031
The Orthopedic Orthotics Market is expected to register a CAGR of 7.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Anatomy (Upper Limb Orthodontic Devices, Lower Limb Orthodontic Devices, Spinal Orthodontic Devices); Posture (Static Orthodontic Devices, Dynamic Orthodontic Devices, Other Orthotic Devices); Manufacturing (Prefabricated Orthotic Devices, Custom Fitted, Custom Fabricated). 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 Orthopedic Orthotics 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.
Orthopedic Orthotics Market Segmentation
Anatomy- Upper Limb Orthodontic Devices
- Lower Limb Orthodontic Devices
- Spinal Orthodontic Devices
- Static Orthodontic Devices
- Dynamic Orthodontic Devices
- Other Orthotic Devices
- Prefabricated Orthotic Devices
- Custom Fitted
- Custom Fabricated
Strategic Insights
Orthopedic Orthotics Market Growth Drivers- Increased Incidence Rates of Musculoskeletal Disorders: The rising incidence of musculoskeletal disorders is one of the most responsible factors for driving the orthopedic orthotics market. The world’s population is getting older and more sedentary hence the increase in the cases of arthritis, osteoporosis, and sports injuries.
- Technological Advancements in Orthotic Devices: The orthopaedic orthosis market is changing as a result of technological developments in orthotic equipment. The emergence of so-called smart orthotics, which consist of a sensor and analysis system, helps to increase treatment response and facilitate follow-up of the patient. The incorporation of these features not only enhances the use and comfort of orthoses but also draws more patients with advanced preferences towards the orthopedic services increasing the growth of the market.
- Increased awareness and accessibility: The orthopedic orthotics market is also influenced by the growing commonness of the products among the consumers. Computer applications and easy availability of health services have helped people in understanding the use of orthopedic equipment in healing processes and improving one’s way of life.
- Moves Towards Individual Orthotic Solutions: The market for orthopedics and orthotics is experiencing an increasing shift towards individual centric solutions. The development of 3D printing and digital scanning technologies has made ‘happy kids’ orthoses more comfortable, better fitting and completely functional devices. This trend is mainly caused by the patients' needs of wanting something better than average care, as they understand that there cannot be an effective treatment without the individual attention.
- Making Orthotics Smart: The orthopedic orthotics market is being greatly affected by the incorporation of smart technologies, for example, sensors and data analytics. These modern devices in orthotics can also come up with proactive ways of communicating with a patient by recording the activity of the patient and the progress and also voice out any concerns to the medical personnel treating the patient. The integration of these factors improves the outcomes of the treatment, increases the level of the patients’ involvement in the treatment process and leads to better treatment overall which is also the reason for the rise in the indicators of this market.
- Growing Incidence of Musculoskeletal Disorders: The increasing number of musculoskeletal disorders such as arthritis, osteoporosis, sports injuries and the likes is a key factor influencing growth of the orthopedic orthotics market. The demand for such orthopedics is expected to grow with more effective ones being introduced into the market as the world continues to progress and as comfort and leisure activities become more common, consequently aging the population.
- Growth of Telehealth Services: The evolution of telehealth services proves to be an advantage to the orthopedic orthotics industry. With the increase in remote diagnosis and treatment, the practitioners can assess and follow up their patients with an orthotic indication virtually. This opens a larger patient base who would prefer not to come to the clinics increasing the willingness to pay for custom made orthotic devices beyond the details of the visit to the clinic.
- Increasing Geriatric Population: The growing geriatric population is one of the main opportunities for the market for orthopedic orthotics. This age group is prone to many conditions relating to joints or connective tissues, for instance, arthritis, and osteoporosis, which will most of the times require the use of orthotics. With the increasing number of elderly individuals in the world today, the need for effective orthopedic devices, that will improve their movement as well as their standard of living, will also increase resulting in the growth of the market and the introduction of new products.
- Stakeholder Partnerships: Orthopedic orthoses manufacturing companies have a great potential of partnering with health care providers, such as orthopedic doctors, and to rehabilitation centers. Through this forming the educating of these individuals on the efficacy and progress of orthotics could enhance partnerships where such products are used more. These would help to improve the quality of care by the service providers and the respect of the noninvasive orthopedics processes by the patients and hence making the whole process more streamlined
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Orthopedic Orthotics 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 Orthopedic Orthotics 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
Increased Incidence Rates of Musculoskeletal Disorders across the Globe is the major factors boosting the Orthopedic Orthotics Market rowth
The market is expected to grow at a CAGR of 7.2%
The North America region accounts for highest revenue share Orthopedic Orthotics 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)
Bauerfeind AG, BSN Medical, DJO Global, Ossur, DeRoyal Industries, Inc. are the major companies operating in the Orthopedic Orthotics Market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Orthopedic Orthotics Market - By Anatomy
1.3.2 Orthopedic Orthotics Market - By Posture
1.3.3 Orthopedic Orthotics Market - By Manufacturing
1.3.4 Orthopedic Orthotics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ORTHOPEDIC ORTHOTICS 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. ORTHOPEDIC ORTHOTICS 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ORTHOPEDIC ORTHOTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. ORTHOPEDIC ORTHOTICS - GLOBAL MARKET OVERVIEW
6.2. ORTHOPEDIC ORTHOTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ORTHOPEDIC ORTHOTICS MARKET - REVENUE AND FORECASTS TO 2028 - ANATOMY
7.1. OVERVIEW
7.2. ANATOMY MARKET FORECASTS AND ANALYSIS
7.3. UPPER LIMB ORTHODONTIC DEVICES
7.3.1. Overview
7.3.2. Upper Limb Orthodontic Devices Market Forecast and Analysis
7.3.3. Shoulder orthotic devices Market
7.3.3.1. Overview
7.3.3.2. Shoulder orthotic devices Market Forecast and Analysis
7.3.4. Hand and wrist orthotic devices Market
7.3.4.1. Overview
7.3.4.2. Hand and wrist orthotic devices Market Forecast and Analysis
7.3.5. Elbow orthotic devices Market
7.3.5.1. Overview
7.3.5.2. Elbow orthotic devices Market Forecast and Analysis
7.3.6. Other upper limb orthotic devices Market
7.3.6.1. Overview
7.3.6.2. Other upper limb orthotic devices Market Forecast and Analysis
7.4. LOWER LIMB ORTHODONTIC DEVICES
7.4.1. Overview
7.4.2. Lower Limb Orthodontic Devices Market Forecast and Analysis
7.4.3. Foot and ankle orthotic devices Market
7.4.3.1. Overview
7.4.3.2. Foot and ankle orthotic devices Market Forecast and Analysis
7.4.4. Knee orthotic devices Market
7.4.4.1. Overview
7.4.4.2. Knee orthotic devices Market Forecast and Analysis
7.4.5. Hip orthotic devices Market
7.4.5.1. Overview
7.4.5.2. Hip orthotic devices Market Forecast and Analysis
7.4.6. Other lower limb orthotic devices Market
7.4.6.1. Overview
7.4.6.2. Other lower limb orthotic devices Market Forecast and Analysis
7.5. SPINAL ORTHODONTIC DEVICES
7.5.1. Overview
7.5.2. Spinal Orthodontic Devices Market Forecast and Analysis
7.5.3. Cervical orthotic devices Market
7.5.3.1. Overview
7.5.3.2. Cervical orthotic devices Market Forecast and Analysis
7.5.4. Lumbosacral orthotic devices Market
7.5.4.1. Overview
7.5.4.2. Lumbosacral orthotic devices Market Forecast and Analysis
7.5.5. Thoracic-lumbo-sacral orthotic devices Market
7.5.5.1. Overview
7.5.5.2. Thoracic-lumbo-sacral orthotic devices Market Forecast and Analysis
7.5.6. Cervical-thoracic-lumbar-sacral orthotic devices Market
7.5.6.1. Overview
7.5.6.2. Cervical-thoracic-lumbar-sacral orthotic devices Market Forecast and Analysis
7.5.7. Market
7.5.7.1. Overview
7.5.7.2. Market Forecast and Analysis
8. ORTHOPEDIC ORTHOTICS MARKET - REVENUE AND FORECASTS TO 2028 - POSTURE
8.1. OVERVIEW
8.2. POSTURE MARKET FORECASTS AND ANALYSIS
8.3. STATIC ORTHODONTIC DEVICES
8.3.1. Overview
8.3.2. Static Orthodontic Devices Market Forecast and Analysis
8.4. DYNAMIC ORTHODONTIC DEVICES
8.4.1. Overview
8.4.2. Dynamic Orthodontic Devices Market Forecast and Analysis
8.5. OTHER ORTHOTIC DEVICES
8.5.1. Overview
8.5.2. Other Orthotic Devices Market Forecast and Analysis
9. ORTHOPEDIC ORTHOTICS MARKET - REVENUE AND FORECASTS TO 2028 - MANUFACTURING
9.1. OVERVIEW
9.2. MANUFACTURING MARKET FORECASTS AND ANALYSIS
9.3. PREFABRICATED ORTHOTIC DEVICES
9.3.1. Overview
9.3.2. Prefabricated Orthotic Devices Market Forecast and Analysis
9.4. CUSTOM FITTED
9.4.1. Overview
9.4.2. Custom Fitted Market Forecast and Analysis
9.5. CUSTOM FABRICATED
9.5.1. Overview
9.5.2. Custom Fabricated Market Forecast and Analysis
10. ORTHOPEDIC ORTHOTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Orthopedic Orthotics Market Overview
10.1.2 North America Orthopedic Orthotics Market Forecasts and Analysis
10.1.3 North America Orthopedic Orthotics Market Forecasts and Analysis - By Anatomy
10.1.4 North America Orthopedic Orthotics Market Forecasts and Analysis - By Posture
10.1.5 North America Orthopedic Orthotics Market Forecasts and Analysis - By Manufacturing
10.1.6 North America Orthopedic Orthotics Market Forecasts and Analysis - By Countries
10.1.6.1 United States Orthopedic Orthotics Market
10.1.6.1.1 United States Orthopedic Orthotics Market by Anatomy
10.1.6.1.2 United States Orthopedic Orthotics Market by Posture
10.1.6.1.3 United States Orthopedic Orthotics Market by Manufacturing
10.1.6.2 Canada Orthopedic Orthotics Market
10.1.6.2.1 Canada Orthopedic Orthotics Market by Anatomy
10.1.6.2.2 Canada Orthopedic Orthotics Market by Posture
10.1.6.2.3 Canada Orthopedic Orthotics Market by Manufacturing
10.1.6.3 Mexico Orthopedic Orthotics Market
10.1.6.3.1 Mexico Orthopedic Orthotics Market by Anatomy
10.1.6.3.2 Mexico Orthopedic Orthotics Market by Posture
10.1.6.3.3 Mexico Orthopedic Orthotics Market by Manufacturing
10.2. EUROPE
10.2.1 Europe Orthopedic Orthotics Market Overview
10.2.2 Europe Orthopedic Orthotics Market Forecasts and Analysis
10.2.3 Europe Orthopedic Orthotics Market Forecasts and Analysis - By Anatomy
10.2.4 Europe Orthopedic Orthotics Market Forecasts and Analysis - By Posture
10.2.5 Europe Orthopedic Orthotics Market Forecasts and Analysis - By Manufacturing
10.2.6 Europe Orthopedic Orthotics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Orthopedic Orthotics Market
10.2.6.1.1 Germany Orthopedic Orthotics Market by Anatomy
10.2.6.1.2 Germany Orthopedic Orthotics Market by Posture
10.2.6.1.3 Germany Orthopedic Orthotics Market by Manufacturing
10.2.6.2 France Orthopedic Orthotics Market
10.2.6.2.1 France Orthopedic Orthotics Market by Anatomy
10.2.6.2.2 France Orthopedic Orthotics Market by Posture
10.2.6.2.3 France Orthopedic Orthotics Market by Manufacturing
10.2.6.3 Italy Orthopedic Orthotics Market
10.2.6.3.1 Italy Orthopedic Orthotics Market by Anatomy
10.2.6.3.2 Italy Orthopedic Orthotics Market by Posture
10.2.6.3.3 Italy Orthopedic Orthotics Market by Manufacturing
10.2.6.4 Spain Orthopedic Orthotics Market
10.2.6.4.1 Spain Orthopedic Orthotics Market by Anatomy
10.2.6.4.2 Spain Orthopedic Orthotics Market by Posture
10.2.6.4.3 Spain Orthopedic Orthotics Market by Manufacturing
10.2.6.5 United Kingdom Orthopedic Orthotics Market
10.2.6.5.1 United Kingdom Orthopedic Orthotics Market by Anatomy
10.2.6.5.2 United Kingdom Orthopedic Orthotics Market by Posture
10.2.6.5.3 United Kingdom Orthopedic Orthotics Market by Manufacturing
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Orthopedic Orthotics Market Overview
10.3.2 Asia-Pacific Orthopedic Orthotics Market Forecasts and Analysis
10.3.3 Asia-Pacific Orthopedic Orthotics Market Forecasts and Analysis - By Anatomy
10.3.4 Asia-Pacific Orthopedic Orthotics Market Forecasts and Analysis - By Posture
10.3.5 Asia-Pacific Orthopedic Orthotics Market Forecasts and Analysis - By Manufacturing
10.3.6 Asia-Pacific Orthopedic Orthotics Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Orthopedic Orthotics Market
10.3.6.1.1 Australia Orthopedic Orthotics Market by Anatomy
10.3.6.1.2 Australia Orthopedic Orthotics Market by Posture
10.3.6.1.3 Australia Orthopedic Orthotics Market by Manufacturing
10.3.6.2 China Orthopedic Orthotics Market
10.3.6.2.1 China Orthopedic Orthotics Market by Anatomy
10.3.6.2.2 China Orthopedic Orthotics Market by Posture
10.3.6.2.3 China Orthopedic Orthotics Market by Manufacturing
10.3.6.3 India Orthopedic Orthotics Market
10.3.6.3.1 India Orthopedic Orthotics Market by Anatomy
10.3.6.3.2 India Orthopedic Orthotics Market by Posture
10.3.6.3.3 India Orthopedic Orthotics Market by Manufacturing
10.3.6.4 Japan Orthopedic Orthotics Market
10.3.6.4.1 Japan Orthopedic Orthotics Market by Anatomy
10.3.6.4.2 Japan Orthopedic Orthotics Market by Posture
10.3.6.4.3 Japan Orthopedic Orthotics Market by Manufacturing
10.3.6.5 South Korea Orthopedic Orthotics Market
10.3.6.5.1 South Korea Orthopedic Orthotics Market by Anatomy
10.3.6.5.2 South Korea Orthopedic Orthotics Market by Posture
10.3.6.5.3 South Korea Orthopedic Orthotics Market by Manufacturing
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Orthopedic Orthotics Market Overview
10.4.2 Middle East and Africa Orthopedic Orthotics Market Forecasts and Analysis
10.4.3 Middle East and Africa Orthopedic Orthotics Market Forecasts and Analysis - By Anatomy
10.4.4 Middle East and Africa Orthopedic Orthotics Market Forecasts and Analysis - By Posture
10.4.5 Middle East and Africa Orthopedic Orthotics Market Forecasts and Analysis - By Manufacturing
10.4.6 Middle East and Africa Orthopedic Orthotics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Orthopedic Orthotics Market
10.4.6.1.1 South Africa Orthopedic Orthotics Market by Anatomy
10.4.6.1.2 South Africa Orthopedic Orthotics Market by Posture
10.4.6.1.3 South Africa Orthopedic Orthotics Market by Manufacturing
10.4.6.2 Saudi Arabia Orthopedic Orthotics Market
10.4.6.2.1 Saudi Arabia Orthopedic Orthotics Market by Anatomy
10.4.6.2.2 Saudi Arabia Orthopedic Orthotics Market by Posture
10.4.6.2.3 Saudi Arabia Orthopedic Orthotics Market by Manufacturing
10.4.6.3 U.A.E Orthopedic Orthotics Market
10.4.6.3.1 U.A.E Orthopedic Orthotics Market by Anatomy
10.4.6.3.2 U.A.E Orthopedic Orthotics Market by Posture
10.4.6.3.3 U.A.E Orthopedic Orthotics Market by Manufacturing
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Orthopedic Orthotics Market Overview
10.5.2 South and Central America Orthopedic Orthotics Market Forecasts and Analysis
10.5.3 South and Central America Orthopedic Orthotics Market Forecasts and Analysis - By Anatomy
10.5.4 South and Central America Orthopedic Orthotics Market Forecasts and Analysis - By Posture
10.5.5 South and Central America Orthopedic Orthotics Market Forecasts and Analysis - By Manufacturing
10.5.6 South and Central America Orthopedic Orthotics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Orthopedic Orthotics Market
10.5.6.1.1 Brazil Orthopedic Orthotics Market by Anatomy
10.5.6.1.2 Brazil Orthopedic Orthotics Market by Posture
10.5.6.1.3 Brazil Orthopedic Orthotics Market by Manufacturing
10.5.6.2 Argentina Orthopedic Orthotics Market
10.5.6.2.1 Argentina Orthopedic Orthotics Market by Anatomy
10.5.6.2.2 Argentina Orthopedic Orthotics Market by Posture
10.5.6.2.3 Argentina Orthopedic Orthotics Market by Manufacturing
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. ORTHOPEDIC ORTHOTICS MARKET, KEY COMPANY PROFILES
12.1. BAUERFEIND AG
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BREG, INC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. BSN MEDICAL
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. DEROYAL INDUSTRIES, INC
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. DJO GLOBAL
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. OSSUR
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. OTTOBOCK
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. TRULIFE
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. HANGER, INC
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. FILLAUER LLC
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
- Bauerfeind AG
- Breg, Inc.
- BSN Medical
- DeRoyal Industries, Inc.
- DJO Global
- Ossur
- Ottobock
- Trulife
- Hanger, Inc.
- Fillauer LLC
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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