Surgical Lasers Market Insights and Updates by 2031
The Surgical Lasers Market is expected to register a CAGR of 6.5% 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 (Carbon Dioxide (CO2) Lasers, Argon Lasers, ND:Yag (Neodymium:Yttrium-Aluminum Garnet) Lasers, Diode Lasers, and Other Surgical Lasers Connected Sensors). The market is further segmented based on Procedure (Open Surgery, Laparoscopic Surgery, and Percutaneous Surgery). The report further presents analysis based on Application (Ophthalmology, Dermatology, Dentistry, Urology, Cardiology, Gynecology, Oncology and Other Applications).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 Report
The report Surgical Lasers 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.
Surgical Lasers Market Segmentation
Surgical Lasers Market covers analysis By Type
- Carbon Dioxide
Procedure
- Open Surgery
- Laparoscopic Surgery
- Percutaneous Surgery
Application
- Ophthalmology
- Dermatology
- Dentistry
- Urology
- Cardiology
- Gynecology
- Oncology and Other Applications
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Surgical Lasers Market: Strategic Insights
| Market Size Value in | US$ 3,863.46 million in 2022 |
| Market Size Value by | US$ 6,031.09 million in 2028 |
| Growth rate | CAGR of 7.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
Mrinal
Have a question?
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
Surgical Lasers Market Growth Drivers
- Technological Advancements: The technological development of laser surgery systems has made surgical processes more effective due to enhanced accuracy in targeting specific tissues. Lasers can focus and penetrate into the desired tissue while avoiding surrounding healthy tissues, which enhances safety and recovery. This is in turn, supportive of the expansion of the demand for surgical lasers across the globe and has been most especially beneficial in nurturing new ideas across all the medical sectors.
- Increasing Incidence and Prevalence of Targeted Diseases: Development of malignancy and such eye-related ailment issues as cataract, glaucoma, skin disease et al.; the need for better modes of surgical procedures arises. Medical or surgical laser procedures are considered as a treatment method that is least scared of invasiveness on the part of the patients as well as the health care givers. Most of the advancements and or developments that come with laser technology focus on benign and malignant tumors, urinary calculi, and skin problems as well. These diseases targeted and their flexibility make laser treatment necessary and easy. The increasing incidence and prevalence of targeted diseases significantly drive the surgical lasers market.
- High Prevalence of Ophthalmic Disorders: : Various eye-related health conditions, including cataracts, primary open-angle glaucoma, diabetes-related sight impairment, and other age-related conditions excluding macular degeneration, are on the rise, especially because of the aging population. That results into seeking more and more effective surgical treatment. Development of new ophthalmic lasers such as the femto-second and YAG lasers has improved the precision and efficacy of eye treatment procedures which has resulted in their increased utilization in the clinical practice. The high prevalence of ophthalmic disorders is indeed a major factor driving the surgical lasers market.
Surgical Lasers Market Future Trends
- Growing Public-Private Investments and Funding: Collaboration between the government and private companies has enhanced the research and development of laser systems. This provides innovation, which contributes to more powerful and efficient surgical lasers to tackle a bigger variety of medical conditions. New technology which is introduced to many hospitals and surgical centers is very much Public health partnership. This enables the clinics to provide the most advanced lasers which in turn increase the number of patients. It is a fact that growing public-private investments and funding is one of key drivers of the surgical lasers market
- Growing Market Preference for Excimer and Diode Lasers in Surgical Procedures: excimer lasers are the best in refractive eye surgeries, such as LASIK. Such laser systems permit careful ablation of the cornea for vision enhancement with little or no collateral damage. There is a constant improvement in the technology of lasers which enhances the safety and efficiency of the excimer and diode lasers which make these devices more appealing to the patients and health care providers.
- Ongoing Consolidation of the Medical Laser Industry: With consolidation, the companies help each other to leverage resources, expertise, and technologies to become more competitive. This in turn leads to the development of more creative and sophisticated products, processes and systems which are advantageous to the health care personnel and the patients. Merger and acquisition strategy leads companies to diversify their business lines. This translates to more laser technologies and techniques which mean that the healthcare providers can receive all the services needed under one brand. This ongoing integration of the medical laser industry is no doubt one of the major developments in the surgical lasers market.
Surgical Lasers Market Opportunities
- Emerging Countries: A number of emerging economies are putting resources towards development of health care. This has improved availability of advanced medical equipment such as surgical lasers. As the regions concerned experience an upsurge in the number of patients afflicted with chronic conditions like diabetes and eye diseases, the rate of surgical procedures escalates leading to the need for performing surgeries with laser beams. Emerging economies appear to offer attractive prospects to the participants in the surgical lasers business
- Growing Trend of Medical Tourism: Most of the traveling patients would want to go to a place that has advanced treatment options that would include those using surgical lasers. Nations that have advanced facilities and well-trained workforce would attract patients in need of decent services. Treatment for laser surgeries is usually cheaper in countries that are associated with medical tourism. This cost effectiveness creates an incentive for the patients who come from developed countries to go overseas for medical services. Evolving trend of medical tourism opens a big window of opportunity to the participants in surgical lasers market
- Growing Preference for Minimally Invasive Surgeries: Everybody wants the procedures with less or no pain, much shorter recovery period and little or no scars left behind. Surgery lasers fit well with these needs, therefore they are becoming a popular choice in diverse fields of surgery. Lasers provide a kind of precision that minimizes injury to the healthy tissues around the targeted part. Such precision leads to better result after the surgical procedure is done, reduced complications and less rates of infections which are much treasured by patients as well as medical practitioners. The increasing demand for minimally invasive surgeries (MIS) presents an invaluable opportunity to the stakeholders in the surgical lasers market
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Surgical Lasers 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 Surgical Lasers 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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Procedure, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Frequently Asked Questions
Increasing demand for minimally invasive or non-invasive procedures is the factor driving market growth
Lumenis Be Ltd, Cynosure, Alma Lasers are the key players operating in the surgical lasers market
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Diode Lasers,
accounts for highest revenue in product type in the market in 2023
Based on geography, Asia Pacific held the largest share of the surgical lasers market.
The Surgical Lasers Market is estimated to witness a CAGR of 6.5% 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. Surgical Lasers Market- By Type
1.3.2. Surgical Lasers Market- By Procedure
1.3.3. Surgical Lasers Market- By Application
1.3.4. Surgical Lasers Market- By Region
1.3.4.1. By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SURGICAL LASERS MARKET LANDSCAPE
4.1. MARKET 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 & Africa - PEST Analysis
4.2.5. South and Central America - PEST Analysis
5. SURGICAL LASERS MARKET- KEY INDUSTRY 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. SURGICAL LASERS MARKET- GLOBAL ANALYSIS
6.1. SURGICAL LASERS MARKET - GLOBAL MARKET OVERVIEW
6.2. SURGICAL LASERS MARKET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE OF KEY PLAYERS
7. SURGICAL LASERS MARKET REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. CARBON DIOXIDE (CO2) LASERS MARKET
7.3.1. Overview
7.3.2. Carbon Dioxide (CO2) Lasers Market Forecast and Analysis (US$ Mn)
7.4. ARGON LASERS MARKET
7.4.1. Overview
7.4.2. Argon Lasers Market Forecast and Analysis (US$ Mn)
7.5. ND:YAG (NEODYMIUM:YTTRIUM-ALUMINUM-GARNET) LASERS MARKET
7.5.1. Overview
7.5.2. ND:Yag (Neodymium:Yttrium-Aluminum-Garnet) Lasers Market Forecast and Analysis (US$ Mn)
7.6. DIODE LASERS MARKET
7.6.1. Overview
7.6.2. Diode Lasers Market Forecast and Analysis (US$ Mn)
7.7. OTHER SURGICAL LASERS MARKET
7.7.1. Overview
7.7.2. Other Surgical Lasers Market Forecast and Analysis (US$ Mn)
8. SURGICAL LASERS MARKET REVENUE AND FORECASTS TO 2028 - PROCEDURE
8.1. OVERVIEW
8.2. PROCEDURE MARKET FORECASTS AND ANALYSIS
8.3. OPEN SURGERY MARKET
8.3.1. Overview
8.3.2. Open Surgery Market Forecast and Analysis (US$ Mn)
8.4. LAPAROSCOPIC SURGERY MARKET
8.4.1. Overview
8.4.2. Laparoscopic Surgery Market Forecast and Analysis (US$ Mn)
8.5. PERCUTANEOUS SURGERY MARKET
8.5.1. Overview
8.5.2. Percutaneous Surgery Market Forecast and Analysis (US$ Mn)
9. SURGICAL LASERS MARKET REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. OPHTHALMOLOGY MARKET
9.3.1. Overview
9.3.2. Ophthalmology Market Forecast and Analysis (US$ Mn)
9.4. DERMATOLOGY MARKET
9.4.1. Overview
9.4.2. Dermatology Market Forecast and Analysis (US$ Mn)
9.5. DENTISTRY MARKET
9.5.1. Overview
9.5.2. Dentistry Market Forecast and Analysis (US$ Mn)
9.6. UROLOGY MARKET
9.6.1. Overview
9.6.2. Urology Market Forecast and Analysis (US$ Mn)
9.7. CARDIOLOGY MARKET
9.7.1. Overview
9.7.2. Cardiology Market Forecast and Analysis (US$ Mn)
9.8. GYNECOLOGY MARKET
9.8.1. Overview
9.8.2. Gynecology Market Forecast and Analysis (US$ Mn)
9.9. ONCOLOGY MARKET
9.9.1. Overview
9.9.2. Oncology Market Forecast and Analysis (US$ Mn)
9.10. OTHER APPLICATIONS MARKET
9.10.1. Overview
9.10.2. Other Applications Market Forecast and Analysis (US$ Mn)
10. SURGICAL LASERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA SURGICAL LASERS MARKET
10.1.1. North America Surgical Lasers Market Forecasts and Analysis (US$ Mn)
10.1.2. North America Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.1.3. North America Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.1.4. North America Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.1.5. North America Surgical Lasers Market Forecasts and Analysis - By Country
10.1.6. US Market Overview
10.1.6.1. US Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.1.6.2. US Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.1.6.3. US Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.1.7. Canada Market Overview
10.1.7.1. Canada Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.1.7.2. Canada Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.1.7.3. Canada Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.1.8. Mexico Market Overview
10.1.8.1. Mexico Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.1.8.2. Mexico Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.1.8.3. Mexico Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.2. EUROPE SURGICAL LASERS MARKET
10.2.1. Europe Surgical Lasers Market Forecasts and Analysis (US$ Mn)
10.2.2. Europe Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.2.3. Europe Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.2.4. Europe Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.2.5. Europe Surgical Lasers Market Forecasts and Analysis - By Country
10.2.6. UK Market Overview
10.2.6.1. UK Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.2.6.2. UK Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.2.6.3. UK Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.2.7. Germany Market Overview
10.2.7.1. Germany Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.2.7.2. Germany Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.2.7.3. Germany Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.2.8. France Market Overview
10.2.8.1. France Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.2.8.2. France Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.2.8.3. France Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.3. ASIA PACIFIC SURGICAL LASERS MARKET
10.3.1. Asia Pacific Surgical Lasers Market Forecasts and Analysis (US$ Mn)
10.3.2. Asia Pacific Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.3.3. Asia Pacific Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.3.4. Asia Pacific Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.3.5. Asia Pacific Surgical Lasers Market Forecasts and Analysis - By Country
10.3.6. China Market Overview
10.3.6.1. China Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.3.6.2. China Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.3.6.3. China Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.3.7. Japan Market Overview
10.3.7.1. Japan Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.3.7.2. Japan Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.3.7.3. Japan Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.3.8. India Market Overview
10.3.8.1. India Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.3.8.2. India Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.3.8.3. India Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.4. MIDDLE EAST AND AFRICA (MEA) SURGICAL LASERS MARKET
10.4.1. Middle East and Africa (MEA) Surgical Lasers Market Forecasts and Analysis (US$ Mn)
10.4.2. Middle East and Africa (MEA) Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.4.3. Middle East and Africa Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.4.4. Middle East and Africa (MEA) Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.4.5. Middle East and Africa (MEA) Surgical Lasers Market Forecasts and Analysis - By Country
10.4.6. UAE Market Overview
10.4.6.1. UAE Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.4.6.2. UAE Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.4.6.3. UAE Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.4.7. Saudi Arabia Market Overview
10.4.7.1. Saudi Arabia Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.4.7.2. Saudi Arabia Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.4.7.3. Saudi Arabia Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.4.8. South Africa Market Overview
10.4.8.1. South Africa Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.4.8.2. South Africa Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.4.8.3. South Africa Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.5. SOUTH AND CENTRAL AMERICA SURGICAL LASERS MARKET
10.5.1. South and Central America Surgical Lasers Market Forecasts and Analysis (US$ Mn)
10.5.2. South and Central America Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.5.3. South and Central America Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.5.4. South and Central America Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
10.5.5. South and Central America Surgical Lasers Market Forecasts and Analysis - By Country
10.5.6. Brazil Market Overview
10.5.6.1. Brazil Surgical Lasers Market Forecasts and Analysis - By Type (US$ Mn)
10.5.6.2. Brazil Surgical Lasers Market Forecasts and Analysis - By Procedure (US$ Mn)
10.5.6.3. Brazil Surgical Lasers Market Forecasts and Analysis - By Application (US$ Mn)
11. INDUSTRY LANDSCAPE
11.1. ORGANIC GROWTH STRATEGIES
11.1.1. New Product Launches
11.1.2. Marketing & Promotional Activities
11.2. INORGANIC GROWTH STRATEGIES
11.2.1. Partnerships, Collaborations, and Joint Ventures
11.2.2. Mergers & Acquisitions
12. SURGICAL LASERS MARKET, KEY COMPANY PROFILES
12.1. LUMENIS
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Financial Overview
12.1.4. Product Portfolio
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. CYNOSURE, INC
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Financial Overview
12.2.4. Product Portfolio
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. ALMA LASERS
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Financial Overview
12.3.4. Product Portfolio
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. ABBOTT
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Financial Overview
12.4.4. Product Portfolio
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. BOSTON SCIENTIFIC CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Financial Overview
12.5.4. Product Portfolio
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. IPG PHOTONICS CORPORATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Financial Overview
12.6.4. Product Portfolio
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. SPECTRANETICS CORPORATION
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Financial Overview
12.7.4. Product Portfolio
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. BIOLITEC AG
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Financial Overview
12.8.4. Product Portfolio
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. BISON MEDICAL CO., LTD.
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Financial Overview
12.9.4. Product Portfolio
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. FOTONA D.O.O.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Financial Overview
12.10.4. Product Portfolio
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. Lumenis
2. Cynosure, Inc.
3. Alma Lasers
4. Abbott
5. Boston Scientific Corporation
6. IPG Photonics Corporation
7. Spectranetics Corporation
8. Biolitec AG
9. Bison Medical Co., Ltd.
10. Fotona D.O.O
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