Pharmaceutical Packaging Market | 2031 Strategic Insights | Recent updates
The Pharmaceutical Packaging Market is expected to register a CAGR of 15% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on material (plastic [polyvinyl chloride (PVC), polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), and others], paper and paperboard, aluminum, glass, and others). The report is segmented by product type (bottles, boxes, blisters, caps and closures, labels, tubes, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Pharmaceutical Packaging Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Pharmaceutical Packaging Market Segmentation
Material- Plastic
- Paper and Paperboard
- Aluminum
- Glass
- Bottles
- Boxes
- Blisters
- Caps and Closures
- Labels
- Tubes
Strategic Insights
Pharmaceutical Packaging Market Growth Drivers- Rising Healthcare Spending Boosts Pharmaceutical Packaging Demand: Rising healthcare spending is one of the major growth drivers in the pharmaceutical packaging market worldwide. The more countries spend on healthcare, the more they demand pharmaceuticals. Growth, however, demands innovative and efficient packaging solutions that ensure product safety, compliance, and enhanced patient experience, thus boosting the overall packaging market.
- Increased Focus on Patient-Centric Packaging Drives Innovation: Increased healthcare spending also translates into higher investment in patient-centric solutions. User-friendly packaging devices, such as easy-to-open designs or smart features, are in high demand. Thus, the pharmaceutical sector invests in sophisticated packaging technology in response to consumer demands, and this contributes to growth in the packaging segment.
- Stricter Drug Safety and Traceability Regulations Fuel Packaging Advancements: In addition, drug safety and traceability requirements are becoming more and more stringent as healthcare spending continues to rise. Companies must introduce advanced packaging solutions that strictly adhere to safety and traceability regulations for drugs, thereby driving the need for special materials and technologies. Compliance in this regard ensures a product's security along the length of the supply chain, thus making effective pharmaceutical packaging even more important.
- Sustainability Drives Change in Pharmaceutical Packaging Market: Sustainability is becoming the latest trend in the pharmaceutical packaging market. Increasing environmental consciousness among consumers, coupled with regulatory requirements, is bringing sustainable packaging to the forefront as a highly important necessity. Pharmaceutical companies are increasing their use of sustainable raw materials that would cause minimal environmental damage and present a challenge to innovate in the design and production processes of packaging.
- Adoption of Biodegradable and Recyclable Materials in Packaging: Industry trends show increasing adoption of biodegradable and recyclable materials. The companies are developing a waste-reducing packing material by working on plant-based plastics and recycled paper among other alternatives. Packaging that fulfills regulatory pressure is also related to the welfare of the environment, thereby enhancing brand loyalty and market competitiveness.
- Sustainable Packaging Enhances Supply Chain Efficiency and Reduces Costs: Sustainable packaging also allows for supply chain efficiency. Improved packaging designs that make use of fewer resources have thus reduced transportation costs and, therefore, carbon footprints. Since the bottom line makes economic sense in supporting the environmental goals, sustainability is a win-win approach for businesses looking to drive up their operations while supporting green initiatives.
- Smart Packaging Innovation Drives Growth in Pharmaceutical Packaging: The growth-enabling segment of the pharmaceutical packaging market is smart packaging innovation. Smart packaging extends safety, traceability, and user interaction in products as pharmaceuticals shift toward advanced technologies. Growth in critical aspects such as counterfeiting and medication compliance makes smart packaging innovations essentially essential for pharmaceutical applications these days.
- Real-Time Tracking and Monitoring Enhance Drug Safety and Efficacy: Smart packaging further advantageously enables tracking and real-time monitoring. Sensors and RFID tags allow the condition of drugs in the supply chain to be monitored. Products are, hence, guaranteed to be optimally stored and transported, thereby retaining their efficacy and safety for the advantage of both the manufacturer and the consumer.
- Patient Activation Features Boost Medication Adherence and Health Outcomes: This will also provide the ability for patient activation. For example, smart packaging features such as QR codes or NFC shall enable the consumer access to rich product information: for example, reminding functions for dosing, educational material, and others. Such high levels of user activation will, therefore, result in better adherence to medication regimens thus leading to better health outcomes along with increased demand for more innovative packaging solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pharmaceutical Packaging Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Pharmaceutical Packaging Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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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.
Frequently Asked Questions
The growing demand for sustainable packaging solutions is expected to be the key market trends.
Based on geography, Asia Pacific held the largest share of the pharmaceutical packaging market due to rapid growth of the pharmaceutical industry in countries like China and India, increased healthcare spending, and a large population that boosts demand for pharmaceutical products. Additionally, the presence of numerous packaging manufacturers in the region contributes to its market leadership. These factors combined make Asia-Pacific a key player in the global pharmaceutical packaging landscape.
Rising healthcare spending is driving the market growth.
Amcor PLC; Amcor PLC; West Pharmaceutical Services, Inc.; Berry Global Inc.; WestRock Company; Gerresheimer AG; CCL Industries; Comar, LLC; SGD Pharma; and Schott AG are some of the key players operating in the pharmaceutical packaging market
Based on material, the paper and paperboard segment is expected to witness the fastest growth during the forecast period
The Pharmaceutical Packaging Market is estimated to witness a CAGR of 15% from 2023 to 2031
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 Pharmaceutical Packaging Market - By Product Type
1.3.2 Pharmaceutical Packaging Market - By Material
1.3.3 Pharmaceutical Packaging Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. PHARMACEUTICAL PACKAGING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. PHARMACEUTICAL PACKAGING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. PHARMACEUTICAL PACKAGING MARKET - GLOBAL MARKET ANALYSIS
6.1. PHARMACEUTICAL PACKAGING - GLOBAL MARKET OVERVIEW
6.2. PHARMACEUTICAL PACKAGING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PHARMACEUTICAL PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PLASTIC BOTTLE
7.3.1. Overview
7.3.2. Plastic Bottle Market Forecast and Analysis
7.4. PARENTERAL CONTAINER
7.4.1. Overview
7.4.2. Parenteral Container Market Forecast and Analysis
7.5. SPECIALTY BAGS
7.5.1. Overview
7.5.2. Specialty Bags Market Forecast and Analysis
7.6. BLISTER PACKAGING
7.6.1. Overview
7.6.2. Blister Packaging Market Forecast and Analysis
7.7. CLOSURES
7.7.1. Overview
7.7.2. Closures Market Forecast and Analysis
7.8. LABELS
7.8.1. Overview
7.8.2. Labels Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. PHARMACEUTICAL PACKAGING MARKET - REVENUE AND FORECASTS TO 2028 - MATERIAL
8.1. OVERVIEW
8.2. MATERIAL MARKET FORECASTS AND ANALYSIS
8.3. PLASTICS AND POLYMERS
8.3.1. Overview
8.3.2. Plastics and Polymers Market Forecast and Analysis
8.4. PAPER AND PAPERBOARD
8.4.1. Overview
8.4.2. Paper and Paperboard Market Forecast and Analysis
8.5. ALUMINUM FOIL
8.5.1. Overview
8.5.2. Aluminum Foil Market Forecast and Analysis
8.6. GLASS
8.6.1. Overview
8.6.2. Glass Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. PHARMACEUTICAL PACKAGING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Pharmaceutical Packaging Market Overview
9.1.2 North America Pharmaceutical Packaging Market Forecasts and Analysis
9.1.3 North America Pharmaceutical Packaging Market Forecasts and Analysis - By Product Type
9.1.4 North America Pharmaceutical Packaging Market Forecasts and Analysis - By Material
9.1.5 North America Pharmaceutical Packaging Market Forecasts and Analysis - By Countries
9.1.5.1 United States Pharmaceutical Packaging Market
9.1.5.1.1 United States Pharmaceutical Packaging Market by Product Type
9.1.5.1.2 United States Pharmaceutical Packaging Market by Material
9.1.5.2 Canada Pharmaceutical Packaging Market
9.1.5.2.1 Canada Pharmaceutical Packaging Market by Product Type
9.1.5.2.2 Canada Pharmaceutical Packaging Market by Material
9.1.5.3 Mexico Pharmaceutical Packaging Market
9.1.5.3.1 Mexico Pharmaceutical Packaging Market by Product Type
9.1.5.3.2 Mexico Pharmaceutical Packaging Market by Material
9.1.5.4 US Pharmaceutical Packaging Market
9.1.5.4.1 US Pharmaceutical Packaging Market by Product Type
9.1.5.4.2 US Pharmaceutical Packaging Market by Material
9.2. EUROPE
9.2.1 Europe Pharmaceutical Packaging Market Overview
9.2.2 Europe Pharmaceutical Packaging Market Forecasts and Analysis
9.2.3 Europe Pharmaceutical Packaging Market Forecasts and Analysis - By Product Type
9.2.4 Europe Pharmaceutical Packaging Market Forecasts and Analysis - By Material
9.2.5 Europe Pharmaceutical Packaging Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Pharmaceutical Packaging Market
9.2.5.1.1 Germany Pharmaceutical Packaging Market by Product Type
9.2.5.1.2 Germany Pharmaceutical Packaging Market by Material
9.2.5.2 France Pharmaceutical Packaging Market
9.2.5.2.1 France Pharmaceutical Packaging Market by Product Type
9.2.5.2.2 France Pharmaceutical Packaging Market by Material
9.2.5.3 Italy Pharmaceutical Packaging Market
9.2.5.3.1 Italy Pharmaceutical Packaging Market by Product Type
9.2.5.3.2 Italy Pharmaceutical Packaging Market by Material
9.2.5.4 Spain Pharmaceutical Packaging Market
9.2.5.4.1 Spain Pharmaceutical Packaging Market by Product Type
9.2.5.4.2 Spain Pharmaceutical Packaging Market by Material
9.2.5.5 United Kingdom Pharmaceutical Packaging Market
9.2.5.5.1 United Kingdom Pharmaceutical Packaging Market by Product Type
9.2.5.5.2 United Kingdom Pharmaceutical Packaging Market by Material
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Pharmaceutical Packaging Market Overview
9.3.2 Asia-Pacific Pharmaceutical Packaging Market Forecasts and Analysis
9.3.3 Asia-Pacific Pharmaceutical Packaging Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Pharmaceutical Packaging Market Forecasts and Analysis - By Material
9.3.5 Asia-Pacific Pharmaceutical Packaging Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Pharmaceutical Packaging Market
9.3.5.1.1 Australia Pharmaceutical Packaging Market by Product Type
9.3.5.1.2 Australia Pharmaceutical Packaging Market by Material
9.3.5.2 China Pharmaceutical Packaging Market
9.3.5.2.1 China Pharmaceutical Packaging Market by Product Type
9.3.5.2.2 China Pharmaceutical Packaging Market by Material
9.3.5.3 India Pharmaceutical Packaging Market
9.3.5.3.1 India Pharmaceutical Packaging Market by Product Type
9.3.5.3.2 India Pharmaceutical Packaging Market by Material
9.3.5.4 Japan Pharmaceutical Packaging Market
9.3.5.4.1 Japan Pharmaceutical Packaging Market by Product Type
9.3.5.4.2 Japan Pharmaceutical Packaging Market by Material
9.3.5.5 South Korea Pharmaceutical Packaging Market
9.3.5.5.1 South Korea Pharmaceutical Packaging Market by Product Type
9.3.5.5.2 South Korea Pharmaceutical Packaging Market by Material
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Pharmaceutical Packaging Market Overview
9.4.2 Middle East and Africa Pharmaceutical Packaging Market Forecasts and Analysis
9.4.3 Middle East and Africa Pharmaceutical Packaging Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Pharmaceutical Packaging Market Forecasts and Analysis - By Material
9.4.5 Middle East and Africa Pharmaceutical Packaging Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Pharmaceutical Packaging Market
9.4.5.1.1 South Africa Pharmaceutical Packaging Market by Product Type
9.4.5.1.2 South Africa Pharmaceutical Packaging Market by Material
9.4.5.2 Saudi Arabia Pharmaceutical Packaging Market
9.4.5.2.1 Saudi Arabia Pharmaceutical Packaging Market by Product Type
9.4.5.2.2 Saudi Arabia Pharmaceutical Packaging Market by Material
9.4.5.3 U.A.E Pharmaceutical Packaging Market
9.4.5.3.1 U.A.E Pharmaceutical Packaging Market by Product Type
9.4.5.3.2 U.A.E Pharmaceutical Packaging Market by Material
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Pharmaceutical Packaging Market Overview
9.5.2 South and Central America Pharmaceutical Packaging Market Forecasts and Analysis
9.5.3 South and Central America Pharmaceutical Packaging Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Pharmaceutical Packaging Market Forecasts and Analysis - By Material
9.5.5 South and Central America Pharmaceutical Packaging Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Pharmaceutical Packaging Market
9.5.5.1.1 Brazil Pharmaceutical Packaging Market by Product Type
9.5.5.1.2 Brazil Pharmaceutical Packaging Market by Material
9.5.5.2 Argentina Pharmaceutical Packaging Market
9.5.5.2.1 Argentina Pharmaceutical Packaging Market by Product Type
9.5.5.2.2 Argentina Pharmaceutical Packaging Market by Material
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. PHARMACEUTICAL PACKAGING MARKET, KEY COMPANY PROFILES
11.1. BD
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. AMCOR LIMITED
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. CAPSUGEL(LONZA)
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. APTARGROUP, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GERRESHEIMER AG
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. WEST PHARMACEUTICAL SERVICES, INC.
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. SCHOTT AG
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. WESTROCK 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. BERRY GLOBAL INC.
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. SGD PHARMA
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. BD
2. Amcor Limited
3. Capsugel(Lonza)
4. AptarGroup, Inc.
5. Gerresheimer AG
6. West Pharmaceutical Services, Inc.
7. SCHOTT AG
8. WestRock Company
9. Berry Global Inc.
10. SGD Pharma
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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