Pharmacy Retailing Market [2021-2031] - Size, Share
The Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America) is expected to register a CAGR of 10.5% 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 by Type (Prescription Drug and Over The Counter Drug (OTC)), Disease Type (Chronic, Acute, and Others), Sales Type (Retail Market, Hospital & Doctor)
Purpose of the ReportThe report Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America) 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.
Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America) Segmentation
Type- Prescription Drug and Over The Counter Drug
- Chronic
- Acute
- Others
- Retail Market
- Hospital & Doctor
Strategic Insights
Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America) Growth Drivers- Rising Demand for Over-The-Counter (OTC) Medications: The increasing demand for over-the-counter (OTC) medicines literally sets fire to the Pharmacy Retailing business. Today, most customers want to consume medicines to cure simple ailments without a doctor's prescription, which drives consumerism towards pharmacy sales and increases retail footfalls for consumer-friendly health-care solutions, thus leading to market growth and more revenue potential.
- Pharmacy Retailing Evolution: Technologies integrated with pharmacy. It further advances the automated dispensing system, mobile health applications, and telepharmacy services available for the public. These not only make the customer's experience in the pharmacy more rewarding but also encourage improved inventory management and customer engagement, enabling pharmacy retail to prosper successfully.
- Bringing health and wellness to the forefront: this is a trend defining the growth of the Pharmacy Retailing market. Consumers, taking the initiative toward their health, seem to be health-conscious not only in terms of medications, but towards supplements, health-related products, and preventive care as well. Hence, the trend is changing for, that would result in the not-so-inevitable end for pharmacies as they try to expand their product offerings and adapt to the changing consumer agendas to becoming health and wellness hubs.
- Shifting trends towards online pharmacy services: It is one of the leading trends steering the Pharmacy Retailing market in changing to online pharmacy services. E-pharmacies are now much more commonly being embraced by customers who would browse for prescriptions, over-the-counter drugs, and health products without having to leave their homes to visit a pharmacy, a change that was hastened by the COVID-19 pandemic when contactless and remote health care became a mandate and a surge in demand occurred due to the impossibly rapid proliferation of digital pharmacy platforms.
- Expanding Health and Wellness Product Lines: Existing products include those available through pharmacies, in which health and wellness products such as dietary supplements, vitamins, and personal care products are found. This is in keeping with consumers' needs for their well-being and the act of preventive care. One-stop shopping for general prescription health is becoming increasingly popular with consumers and revenues for pharmacies beyond prescription medicines.
- Adopting Advanced Technologies in Enhancing Customer Experience: Customers will experience a new phase of interaction. One of such highly advanced technologies is now phasing out pharmacy retailing, where all signature elements of customer experiences are taken to higher dimensions. Such trends have been toward introducing AI chatbots for virtual consultations and mobile apps to refill prescriptions with the self-service kiosk. This will most probably establish the convenience and accessibility for a smoother process with an even more productive response to customer requirements, and with this will increase satisfaction and greatness in competitive market standings.
- Expansion of Health and Wellness Services: Pharmacy Retail has room for improvement in health and wellness services. Pharmacies can be positioned as complete health centers by offering services such as blood pressure monitoring, vaccination, wellness consultation, and probably even fitness and dietary consultations. These health services may draw potential consumers who focus on healthy living while meeting the increasing demand for preventive health care. Such an approach would normally increase revenue streams and, worst of all, customer loyalty, making pharmacies all the more significant partners in the management of public health.
- Increased Personalized Medicine and Growth of Digital Health: The best chance for Pharmacy Retailing, however, is in personalized medicine and digital health tools. Such solutions would have to adapt pharmacy services to personalized care plans, genetic testing, and remote health monitoring that are made available through partnerships or in: store services. Consumers want nothing but highly individualized health care, thus keeping in line with this trend would help improve pharmacy value and extends what pharmacies can do.
- Strategic Partnerships with Providers of Health Care: Pharmacies have the opportunity to create strategic partnerships with health care providers to close the gap between pharmacy and primary care. Development and provision of partnerships between pharmacies and clinics and patients in hospitals and telemedicine services will improve the entire continuum of care to patients in encouraging adherence to medications and further health results. Thus, it will allow for transformed pharmacies into strategic health care partners as well as improving foot traffic and sales.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America), 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 Pharmacy Retailing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Prescription Drug, Over The Counter Drug (OTC)); Disease Type (Chronic, Acute, Others); Sales Type (Retail Market, Hospital and Doctor) , and Geography (North America, Europe, Asia Pacific, and South and Central America) 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
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 pharmacy retailing market is estimated to grow with a CAGR of 10.5% from 2023 to 2031.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The pharmacy retailing market majorly consists of the players such as Apoll Pharmacy Private Limited, Emami Frank Ross Limited among others.
Shifting trends towards online pharmacy services are likely to remain the key trend during the forecast period
The market drivers include rising demand for over-the-counter (OTC) medications and pharmacy retailing evolution are driving the pharmacy retailing market
North America dominated the pharmacy retailing market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Pharmacy Retailing Market - By Type
1.3.2 Pharmacy Retailing Market - By Disease Type
1.3.3 Pharmacy Retailing Market - By Sales Type
1.3.4 Pharmacy Retailing Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHARMACY RETAILING 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. PHARMACY RETAILING 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. PHARMACY RETAILING MARKET - GLOBAL MARKET ANALYSIS
6.1. PHARMACY RETAILING - GLOBAL MARKET OVERVIEW
6.2. PHARMACY RETAILING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. PHARMACY RETAILING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRESCRIPTION DRUG
7.3.1. Overview
7.3.2. Prescription Drug Market Forecast and Analysis
7.4. OVER THE COUNTER DRUG (OTC)
7.4.1. Overview
7.4.2. Over The Counter Drug (OTC) Market Forecast and Analysis
8. PHARMACY RETAILING MARKET - REVENUE AND FORECASTS TO 2028 - DISEASE TYPE
8.1. OVERVIEW
8.2. DISEASE TYPE MARKET FORECASTS AND ANALYSIS
8.3. CHRONIC
8.3.1. Overview
8.3.2. Chronic Market Forecast and Analysis
8.4. ACUTE
8.4.1. Overview
8.4.2. Acute Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. PHARMACY RETAILING MARKET - REVENUE AND FORECASTS TO 2028 - SALES TYPE
9.1. OVERVIEW
9.2. SALES TYPE MARKET FORECASTS AND ANALYSIS
9.3. RETAIL MARKET
9.3.1. Overview
9.3.2. Retail Market Market Forecast and Analysis
9.4. HOSPITAL AND DOCTOR
9.4.1. Overview
9.4.2. Hospital and Doctor Market Forecast and Analysis
10. PHARMACY RETAILING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Pharmacy Retailing Market Overview
10.1.2 North America Pharmacy Retailing Market Forecasts and Analysis
10.1.3 North America Pharmacy Retailing Market Forecasts and Analysis - By Type
10.1.4 North America Pharmacy Retailing Market Forecasts and Analysis - By Disease Type
10.1.5 North America Pharmacy Retailing Market Forecasts and Analysis - By Sales Type
10.1.6 North America Pharmacy Retailing Market Forecasts and Analysis - By Countries
10.1.6.1 United States Pharmacy Retailing Market
10.1.6.1.1 United States Pharmacy Retailing Market by Type
10.1.6.1.2 United States Pharmacy Retailing Market by Disease Type
10.1.6.1.3 United States Pharmacy Retailing Market by Sales Type
10.1.6.2 Canada Pharmacy Retailing Market
10.1.6.2.1 Canada Pharmacy Retailing Market by Type
10.1.6.2.2 Canada Pharmacy Retailing Market by Disease Type
10.1.6.2.3 Canada Pharmacy Retailing Market by Sales Type
10.1.6.3 Mexico Pharmacy Retailing Market
10.1.6.3.1 Mexico Pharmacy Retailing Market by Type
10.1.6.3.2 Mexico Pharmacy Retailing Market by Disease Type
10.1.6.3.3 Mexico Pharmacy Retailing Market by Sales Type
10.2. EUROPE
10.2.1 Europe Pharmacy Retailing Market Overview
10.2.2 Europe Pharmacy Retailing Market Forecasts and Analysis
10.2.3 Europe Pharmacy Retailing Market Forecasts and Analysis - By Type
10.2.4 Europe Pharmacy Retailing Market Forecasts and Analysis - By Disease Type
10.2.5 Europe Pharmacy Retailing Market Forecasts and Analysis - By Sales Type
10.2.6 Europe Pharmacy Retailing Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Pharmacy Retailing Market
10.2.6.1.1 Germany Pharmacy Retailing Market by Type
10.2.6.1.2 Germany Pharmacy Retailing Market by Disease Type
10.2.6.1.3 Germany Pharmacy Retailing Market by Sales Type
10.2.6.2 France Pharmacy Retailing Market
10.2.6.2.1 France Pharmacy Retailing Market by Type
10.2.6.2.2 France Pharmacy Retailing Market by Disease Type
10.2.6.2.3 France Pharmacy Retailing Market by Sales Type
10.2.6.3 Italy Pharmacy Retailing Market
10.2.6.3.1 Italy Pharmacy Retailing Market by Type
10.2.6.3.2 Italy Pharmacy Retailing Market by Disease Type
10.2.6.3.3 Italy Pharmacy Retailing Market by Sales Type
10.2.6.4 Spain Pharmacy Retailing Market
10.2.6.4.1 Spain Pharmacy Retailing Market by Type
10.2.6.4.2 Spain Pharmacy Retailing Market by Disease Type
10.2.6.4.3 Spain Pharmacy Retailing Market by Sales Type
10.2.6.5 United Kingdom Pharmacy Retailing Market
10.2.6.5.1 United Kingdom Pharmacy Retailing Market by Type
10.2.6.5.2 United Kingdom Pharmacy Retailing Market by Disease Type
10.2.6.5.3 United Kingdom Pharmacy Retailing Market by Sales Type
10.2.6.6 Rest of Europe Pharmacy Retailing Market
10.2.6.6.1 Rest of Europe Pharmacy Retailing Market by Type
10.2.6.6.2 Rest of Europe Pharmacy Retailing Market by Disease Type
10.2.6.6.3 Rest of Europe Pharmacy Retailing Market by Sales Type
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Pharmacy Retailing Market Overview
10.3.2 Asia-Pacific Pharmacy Retailing Market Forecasts and Analysis
10.3.3 Asia-Pacific Pharmacy Retailing Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Pharmacy Retailing Market Forecasts and Analysis - By Disease Type
10.3.5 Asia-Pacific Pharmacy Retailing Market Forecasts and Analysis - By Sales Type
10.3.6 Asia-Pacific Pharmacy Retailing Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Pharmacy Retailing Market
10.3.6.1.1 Australia Pharmacy Retailing Market by Type
10.3.6.1.2 Australia Pharmacy Retailing Market by Disease Type
10.3.6.1.3 Australia Pharmacy Retailing Market by Sales Type
10.3.6.2 China Pharmacy Retailing Market
10.3.6.2.1 China Pharmacy Retailing Market by Type
10.3.6.2.2 China Pharmacy Retailing Market by Disease Type
10.3.6.2.3 China Pharmacy Retailing Market by Sales Type
10.3.6.3 India Pharmacy Retailing Market
10.3.6.3.1 India Pharmacy Retailing Market by Type
10.3.6.3.2 India Pharmacy Retailing Market by Disease Type
10.3.6.3.3 India Pharmacy Retailing Market by Sales Type
10.3.6.4 Japan Pharmacy Retailing Market
10.3.6.4.1 Japan Pharmacy Retailing Market by Type
10.3.6.4.2 Japan Pharmacy Retailing Market by Disease Type
10.3.6.4.3 Japan Pharmacy Retailing Market by Sales Type
10.3.6.5 South Korea Pharmacy Retailing Market
10.3.6.5.1 South Korea Pharmacy Retailing Market by Type
10.3.6.5.2 South Korea Pharmacy Retailing Market by Disease Type
10.3.6.5.3 South Korea Pharmacy Retailing Market by Sales Type
10.3.6.6 Rest of Asia-Pacific Pharmacy Retailing Market
10.3.6.6.1 Rest of Asia-Pacific Pharmacy Retailing Market by Type
10.3.6.6.2 Rest of Asia-Pacific Pharmacy Retailing Market by Disease Type
10.3.6.6.3 Rest of Asia-Pacific Pharmacy Retailing Market by Sales Type
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Pharmacy Retailing Market Overview
10.4.2 Middle East and Africa Pharmacy Retailing Market Forecasts and Analysis
10.4.3 Middle East and Africa Pharmacy Retailing Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Pharmacy Retailing Market Forecasts and Analysis - By Disease Type
10.4.5 Middle East and Africa Pharmacy Retailing Market Forecasts and Analysis - By Sales Type
10.4.6 Middle East and Africa Pharmacy Retailing Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Pharmacy Retailing Market
10.4.6.1.1 South Africa Pharmacy Retailing Market by Type
10.4.6.1.2 South Africa Pharmacy Retailing Market by Disease Type
10.4.6.1.3 South Africa Pharmacy Retailing Market by Sales Type
10.4.6.2 Saudi Arabia Pharmacy Retailing Market
10.4.6.2.1 Saudi Arabia Pharmacy Retailing Market by Type
10.4.6.2.2 Saudi Arabia Pharmacy Retailing Market by Disease Type
10.4.6.2.3 Saudi Arabia Pharmacy Retailing Market by Sales Type
10.4.6.3 U.A.E Pharmacy Retailing Market
10.4.6.3.1 U.A.E Pharmacy Retailing Market by Type
10.4.6.3.2 U.A.E Pharmacy Retailing Market by Disease Type
10.4.6.3.3 U.A.E Pharmacy Retailing Market by Sales Type
10.4.6.4 Rest of Middle East and Africa Pharmacy Retailing Market
10.4.6.4.1 Rest of Middle East and Africa Pharmacy Retailing Market by Type
10.4.6.4.2 Rest of Middle East and Africa Pharmacy Retailing Market by Disease Type
10.4.6.4.3 Rest of Middle East and Africa Pharmacy Retailing Market by Sales Type
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Pharmacy Retailing Market Overview
10.5.2 South and Central America Pharmacy Retailing Market Forecasts and Analysis
10.5.3 South and Central America Pharmacy Retailing Market Forecasts and Analysis - By Type
10.5.4 South and Central America Pharmacy Retailing Market Forecasts and Analysis - By Disease Type
10.5.5 South and Central America Pharmacy Retailing Market Forecasts and Analysis - By Sales Type
10.5.6 South and Central America Pharmacy Retailing Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Pharmacy Retailing Market
10.5.6.1.1 Brazil Pharmacy Retailing Market by Type
10.5.6.1.2 Brazil Pharmacy Retailing Market by Disease Type
10.5.6.1.3 Brazil Pharmacy Retailing Market by Sales Type
10.5.6.2 Argentina Pharmacy Retailing Market
10.5.6.2.1 Argentina Pharmacy Retailing Market by Type
10.5.6.2.2 Argentina Pharmacy Retailing Market by Disease Type
10.5.6.2.3 Argentina Pharmacy Retailing Market by Sales Type
10.5.6.3 Rest of South and Central America Pharmacy Retailing Market
10.5.6.3.1 Rest of South and Central America Pharmacy Retailing Market by Type
10.5.6.3.2 Rest of South and Central America Pharmacy Retailing Market by Disease Type
10.5.6.3.3 Rest of South and Central America Pharmacy Retailing Market by Sales Type
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. PHARMACY RETAILING MARKET, KEY COMPANY PROFILES
12.1. APOLL PHARMACY PRIVATE LIMITED
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. EMAMI FRANK ROSS LIMITED
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. GLOBAL HEALTHLINE PRIVATE LIMITED
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. GUARDIAN LIFECARE PRIVATE LIMITED
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. MEDPLUS HEALTH SERVICES PRIVATE LIMITED
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. NETMEDS MARKETPLACE LIMITED
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. THE HIMALAYA DRUG COMPANY PRIVATE LIMITED
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
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1.Apoll Pharmacy Private Limited
2.Emami Frank Ross Limited
3.Global Healthline Private Limited
4.Guardian Lifecare Private Limited
5.MedPlus Health Services Private Limited
6.Netmeds Marketplace Limited
7.The Himalaya Drug Company Private Limited
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.
Get Free Sample For