The Synthetic Opioids Market is expected to register a CAGR of 1.6% from 2025 to 2031, with a market size expanding from US$ XX Million in 2024 to US$ XX Million by 2031.
The research report on the Synthetic Opioids Market is segmented by product into synthetic and semi synthetic opioids. Applications analyzed include pain management, anesthesia, addiction treatment, and cancer-related pain. Distribution channels include retail outlets, and hospitals. The regional analysis covers key markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and South America. The market evaluation is presented in US$ for all segmental analyses. This report explores the growing use of synthetic opioids for pain relief, the challenges related to opioid misuse and addiction, and the regulatory landscape influencing market growth.
Purpose of the ReportThe report Synthetic Opioids 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.
Synthetic Opioids Market Segmentation
Product Type- Synthetic Opioids
- Semi Synthetic Opioids
- Pain Management
- De-Addiction
- Retail Outlets
- Hospitals
Strategic Insights
Synthetic Opioids Market Growth Drivers- Increasing Incidence of Chronic Pain Disorders:
The synthetic opioids market is highly driven by the increasingly high prevalence of chronic pain disorders like arthritis, back pain, and cancer. Pain due to these chronic disorders often requires long-term pain management and results in the use of opioids as prescription medication. As people grow older and the incidence of chronic pain increases, the prescribing of potent painkillers, such as synthetic opioids, is also likely to increase further. Synthetic opioids, such as fentanyl and its analogs, are highly effective for managing severe pain, making them a go-to option for healthcare providers. The market is expanding as healthcare professionals increasingly rely on these medications to help improve the quality of life for patients living with chronic pain.
- Growing Demand for Fast-Acting Pain Relief: Synthetic opioids favor the medical arena, since they are fast-acting especially in severe pain. Patients who are due for immediate pain relief say those who have just undergone surgery or experienced trauma would go quickly with synthetic opioids. Their fast action led to their comprehensive application in the hospitals and emergency wards. As the demand for pain management drugs is increasing in a rapid manner, the need for synthetic opioids such as fentanyl, hydromorphone, and oxycodone is bound to increase with market growth.
- Rise in the Use of Opioid Analgesics for Acute and Postoperative Pain:
In the post-operative phase, there is a massive pain that develops, which the patient needs urgent relief from. Synthetic opioids are often prescribed to patients during the acute pain period after surgery. These drugs help manage severe pain and prevent the development of chronic pain conditions. As surgical procedures continue to increase worldwide due to advancements in medical treatments, the need for post-surgical pain management through opioids will likely remain high, driving the demand for synthetic opioids. Furthermore, their use in palliative care for patients with terminal conditions contributes to market growth.
- Rising Concerns over opioid abuse and addiction: Although synthetic opioids are very effective in pain management, abuse potential and high addiction have become bigger concerns with their use. The ongoing opioid crisis in many parts of the world, especially in the U.S., has put the focus on drug misuse. As a result, healthcare providers are becoming more conservative in their prescribing practices, resulting in a move toward increased regulation and monitoring of synthetic opioid use. This movement is driving the creation of ADFs to prevent misuse. These formulations should reduce the chances of addiction and overdose while remaining effective for pain relief in the patient who requires it.
- Development of Abuse-Deterrent Formulations (ADFs):
To address the burgeoning issues associated with opioid abuse, pharmaceutical companies have been investing in the development of abuse-deterrent formulations, or ADFs, of synthetic opioids. These formulations deter the user from misusing the drug through structural changes to the pill's chemistry or through addition of physical barriers that cannot be tampered with. For example, tamper-resistant formulations make it harder for the abuser to crush or dissolve them before snorting the drug, significantly reducing the risks of abuse. As part of a broader effort to curb opioid misuse, the development and approval of ADFs are expected to become a key trend, helping to mitigate the negative societal impacts of synthetic opioid use while maintaining their therapeutic benefits.
- Shift Toward Alternative Pain Management Solutions:
Another significant trend in the synthetic opioids market is the growing interest in alternative pain management therapies. While synthetic opioids remain highly effective for severe pain, there is increasing research into non-opioid alternatives for pain relief. These alternatives include non-steroidal anti-inflammatory drugs (NSAIDs), nerve-blocking treatments, physical therapy, and even newer approaches like cannabinoid-based therapies. There is an increase in the usage of opioids combined with other non-opioid pain management strategies in an attempt by the medical community to reduce reliance on opioids. This, therefore, presents an impact to be expected for the future growth of the synthetic opioid market.
- Innovations in Synthetic Non-Addictive Opioids:
There exists huge opportunity in that pharmaceutical firms design synthetic opioids from which they acquire pain relief similar to natural opioid but is without the addiction-potential counterpart. Investigate non-addictive synthetic opioid is very promising, and one of these who will develop non-addictive synthetic drugs opens a tremendous channel for business operations. These products would address issues of opioid abuse but still manage pain effectively for patients. Their development would thus be a big opportunity for pharmaceutical companies to establish a competitive advantage, especially in the wake of growing global attention on opioid abuse.
- Growing Demand for Personalized Pain Management: Personalized medicine, which delivers treatments based on individual genetic and phenotypic profiles, offers an opportunity in the synthetic opioids market. Personalized pain management allows for more precise prescriptions of opioids, ensuring that patients receive the appropriate dosage and type of opioid, reducing the risk of misuse and overdose. The use of genetic testing to determine how an individual metabolizes opioids can improve treatment outcomes and reduce the chances of addiction. This trend offers new avenues for synthetic opioid developers to launch customized pain management solutions, thereby enabling safer and more efficient pain relief methods.
- Collaborations and Strategic Partnerships: Pharmaceutical companies, healthcare organizations, and government agencies can collaborate to combat the opioid crisis through research and development and education. Collaboration will enable stakeholders to develop a solution that balances the need for pain relief and the necessity of reducing further abuse of opioids. Partnerships may lead to the development of safer opioid alternatives, the introduction of abuse-deterrent formulations, and more robust systems for tracking opioid prescriptions. Such partnerships may expand market reach and assure responsible use of synthetic opioids, which could help open the door for continued growth in the market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Synthetic Opioids 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 Synthetic Opioids 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
The Synthetic Opioids Market is expected to register a CAGR of 1.6% from 2025-2031.
The major driving factors supporting the Synthetic Opioids Market growth are- Increasing Incidence of Chronic Pain Disorders, Growing Demand for Fast-Acting Pain Relief,and Rise in the Use of Opioid Analgesics for Acute and Postoperative Pain
Key Future Trends in the Synthetic Opioids Market are- Rising Concerns over opioid abuse and addiction, Development of Abuse-Deterrent Formulations (ADFs), and Shift Toward Alternative Pain Management Solutions
Key companies in Synthetic Opioids Market are - Adamis Pharmaceuticals Corporation, Endo International plc, Impax Laboratories, Inc., Indivior Plc., Janssen Pharmaceuticals, Inc., Mallinckrodt Pharmaceuticals plc, Mylan N.V., Pfizer Inc., Purdue Pharma LP
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1 Synthetic Opioids Market - By Product Type
1.3.2 Synthetic Opioids Market - By Application
1.3.3 Synthetic Opioids Market - By Distribution Channel
1.3.4 Synthetic Opioids Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SYNTHETIC OPIOIDS 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. SYNTHETIC OPIOIDS 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. SYNTHETIC OPIOIDS MARKET - GLOBAL MARKET ANALYSIS
6.1. SYNTHETIC OPIOIDS - GLOBAL MARKET OVERVIEW
6.2. SYNTHETIC OPIOIDS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SYNTHETIC OPIOIDS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. SYNTHETIC OPIOIDS
7.3.1. Overview
7.3.2. Synthetic Opioids Market Forecast and Analysis
7.4. SEMI SYNTHETIC OPIOIDS
7.4.1. Overview
7.4.2. Semi Synthetic Opioids Market Forecast and Analysis
8. SYNTHETIC OPIOIDS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PAIN MANAGEMENT
8.3.1. Overview
8.3.2. Pain Management Market Forecast and Analysis
8.4. DE-ADDICTION
8.4.1. Overview
8.4.2. De-Addiction Market Forecast and Analysis
9. SYNTHETIC OPIOIDS MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. RETAIL OUTLETS
9.3.1. Overview
9.3.2. Retail Outlets Market Forecast and Analysis
9.4. HOSPITALS
9.4.1. Overview
9.4.2. Hospitals Market Forecast and Analysis
10. SYNTHETIC OPIOIDS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Synthetic Opioids Market Overview
10.1.2 North America Synthetic Opioids Market Forecasts and Analysis
10.1.3 North America Synthetic Opioids Market Forecasts and Analysis - By Product Type
10.1.4 North America Synthetic Opioids Market Forecasts and Analysis - By Application
10.1.5 North America Synthetic Opioids Market Forecasts and Analysis - By Distribution Channel
10.1.6 North America Synthetic Opioids Market Forecasts and Analysis - By Countries
10.1.6.1 United States Synthetic Opioids Market
10.1.6.1.1 United States Synthetic Opioids Market by Product Type
10.1.6.1.2 United States Synthetic Opioids Market by Application
10.1.6.1.3 United States Synthetic Opioids Market by Distribution Channel
10.1.6.2 Canada Synthetic Opioids Market
10.1.6.2.1 Canada Synthetic Opioids Market by Product Type
10.1.6.2.2 Canada Synthetic Opioids Market by Application
10.1.6.2.3 Canada Synthetic Opioids Market by Distribution Channel
10.1.6.3 Mexico Synthetic Opioids Market
10.1.6.3.1 Mexico Synthetic Opioids Market by Product Type
10.1.6.3.2 Mexico Synthetic Opioids Market by Application
10.1.6.3.3 Mexico Synthetic Opioids Market by Distribution Channel
10.2. EUROPE
10.2.1 Europe Synthetic Opioids Market Overview
10.2.2 Europe Synthetic Opioids Market Forecasts and Analysis
10.2.3 Europe Synthetic Opioids Market Forecasts and Analysis - By Product Type
10.2.4 Europe Synthetic Opioids Market Forecasts and Analysis - By Application
10.2.5 Europe Synthetic Opioids Market Forecasts and Analysis - By Distribution Channel
10.2.6 Europe Synthetic Opioids Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Synthetic Opioids Market
10.2.6.1.1 Germany Synthetic Opioids Market by Product Type
10.2.6.1.2 Germany Synthetic Opioids Market by Application
10.2.6.1.3 Germany Synthetic Opioids Market by Distribution Channel
10.2.6.2 France Synthetic Opioids Market
10.2.6.2.1 France Synthetic Opioids Market by Product Type
10.2.6.2.2 France Synthetic Opioids Market by Application
10.2.6.2.3 France Synthetic Opioids Market by Distribution Channel
10.2.6.3 Italy Synthetic Opioids Market
10.2.6.3.1 Italy Synthetic Opioids Market by Product Type
10.2.6.3.2 Italy Synthetic Opioids Market by Application
10.2.6.3.3 Italy Synthetic Opioids Market by Distribution Channel
10.2.6.4 Spain Synthetic Opioids Market
10.2.6.4.1 Spain Synthetic Opioids Market by Product Type
10.2.6.4.2 Spain Synthetic Opioids Market by Application
10.2.6.4.3 Spain Synthetic Opioids Market by Distribution Channel
10.2.6.5 United Kingdom Synthetic Opioids Market
10.2.6.5.1 United Kingdom Synthetic Opioids Market by Product Type
10.2.6.5.2 United Kingdom Synthetic Opioids Market by Application
10.2.6.5.3 United Kingdom Synthetic Opioids Market by Distribution Channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Synthetic Opioids Market Overview
10.3.2 Asia-Pacific Synthetic Opioids Market Forecasts and Analysis
10.3.3 Asia-Pacific Synthetic Opioids Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Synthetic Opioids Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Synthetic Opioids Market Forecasts and Analysis - By Distribution Channel
10.3.6 Asia-Pacific Synthetic Opioids Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Synthetic Opioids Market
10.3.6.1.1 Australia Synthetic Opioids Market by Product Type
10.3.6.1.2 Australia Synthetic Opioids Market by Application
10.3.6.1.3 Australia Synthetic Opioids Market by Distribution Channel
10.3.6.2 China Synthetic Opioids Market
10.3.6.2.1 China Synthetic Opioids Market by Product Type
10.3.6.2.2 China Synthetic Opioids Market by Application
10.3.6.2.3 China Synthetic Opioids Market by Distribution Channel
10.3.6.3 India Synthetic Opioids Market
10.3.6.3.1 India Synthetic Opioids Market by Product Type
10.3.6.3.2 India Synthetic Opioids Market by Application
10.3.6.3.3 India Synthetic Opioids Market by Distribution Channel
10.3.6.4 Japan Synthetic Opioids Market
10.3.6.4.1 Japan Synthetic Opioids Market by Product Type
10.3.6.4.2 Japan Synthetic Opioids Market by Application
10.3.6.4.3 Japan Synthetic Opioids Market by Distribution Channel
10.3.6.5 South Korea Synthetic Opioids Market
10.3.6.5.1 South Korea Synthetic Opioids Market by Product Type
10.3.6.5.2 South Korea Synthetic Opioids Market by Application
10.3.6.5.3 South Korea Synthetic Opioids Market by Distribution Channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Synthetic Opioids Market Overview
10.4.2 Middle East and Africa Synthetic Opioids Market Forecasts and Analysis
10.4.3 Middle East and Africa Synthetic Opioids Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Synthetic Opioids Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Synthetic Opioids Market Forecasts and Analysis - By Distribution Channel
10.4.6 Middle East and Africa Synthetic Opioids Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Synthetic Opioids Market
10.4.6.1.1 South Africa Synthetic Opioids Market by Product Type
10.4.6.1.2 South Africa Synthetic Opioids Market by Application
10.4.6.1.3 South Africa Synthetic Opioids Market by Distribution Channel
10.4.6.2 Saudi Arabia Synthetic Opioids Market
10.4.6.2.1 Saudi Arabia Synthetic Opioids Market by Product Type
10.4.6.2.2 Saudi Arabia Synthetic Opioids Market by Application
10.4.6.2.3 Saudi Arabia Synthetic Opioids Market by Distribution Channel
10.4.6.3 U.A.E Synthetic Opioids Market
10.4.6.3.1 U.A.E Synthetic Opioids Market by Product Type
10.4.6.3.2 U.A.E Synthetic Opioids Market by Application
10.4.6.3.3 U.A.E Synthetic Opioids Market by Distribution Channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Synthetic Opioids Market Overview
10.5.2 South and Central America Synthetic Opioids Market Forecasts and Analysis
10.5.3 South and Central America Synthetic Opioids Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Synthetic Opioids Market Forecasts and Analysis - By Application
10.5.5 South and Central America Synthetic Opioids Market Forecasts and Analysis - By Distribution Channel
10.5.6 South and Central America Synthetic Opioids Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Synthetic Opioids Market
10.5.6.1.1 Brazil Synthetic Opioids Market by Product Type
10.5.6.1.2 Brazil Synthetic Opioids Market by Application
10.5.6.1.3 Brazil Synthetic Opioids Market by Distribution Channel
10.5.6.2 Argentina Synthetic Opioids Market
10.5.6.2.1 Argentina Synthetic Opioids Market by Product Type
10.5.6.2.2 Argentina Synthetic Opioids Market by Application
10.5.6.2.3 Argentina Synthetic Opioids Market by Distribution Channel
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL SYNTHETIC OPIOIDS MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Rest of the World
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. SYNTHETIC OPIOIDS MARKET, KEY COMPANY PROFILES
13.1. ADAMIS PHARMACEUTICALS CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ENDO INTERNATIONAL PLC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. IMPAX LABORATORIES, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. INDIVIOR PLC.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. JANSSEN PHARMACEUTICALS, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. MALLINCKRODT PHARMACEUTICALS PLC
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MYLAN N.V.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. PFIZER INC.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. PURDUE PHARMA LP,
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TEVA PHARMACEUTICALS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
13.11. WEST-WARD PHARMACEUTICALS (HIKMA’S US SUBSIDIARY)
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Adamis Pharmaceuticals Corporation
2. Endo International plc.
3. Impax Laboratories, Inc.
4. Indivior Plc.
5. Janssen Pharmaceuticals, Inc.
6. Mallinckrodt Pharmaceuticals plc
7. Mylan N.V.
8. Pfizer Inc.
9. Purdue Pharma LP,
10. Teva Pharmaceuticals
11. West-Ward Pharmaceuticals (Hikma's US subsidiary)
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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