The Europe medical cannabis market is expected to reach US$ 13,801.0 million in 2028 from US$ 492.1 million in 2021; it is estimated to grow at a CAGR of 61.1% during 2022–2028.
Cannabis belongs to the cannabaceae family. Cannabis is also known by other names such as grass, pot, hash, weed, reefer, dope, herb, mull, buddha, ganja, joint, stick, buckets, cones, skunk, hydro, yarndi, smoke, and hooch. Cannabis is a drug obtained from Indian hemp plants named Cannabis indica and Cannabis sativa. There are different forms of cannabis available such as marijuana, hashish, and Hash oil. Some species of cannabis are used to produce hemp fiber for paper, textiles, and clothing. Cannabis has been used for medical purposes for many years. Recent studies show that cannabis may help conditions such as nausea and vomiting, particularly when associated with chemotherapy, glaucoma, epilepsy, and asthma.
The Europe medical cannabis market is segmented based on product type, medical application, compound, and country. This report offers insights and in-depth analysis of the market, emphasizing parameters, such as market trends and market dynamics, and the competitive analysis of the leading market players in the region.
Market Insights
Increasing Research Activities on Medicinal Use of Cannabis
With the legalization of cannabis in Europe, producers are increasingly looking for quick and accurate means to determine the quality and potency of their products. Increasing cannabis use is increasing the demand for cannabis testing, which has an impact on the research activities of the region. The European Parliament is calling for an EU-wide policy on medical cannabis and well-funded scientific research. To this end, members of the European Parliament (MEPs) adopted a resolution on the use of cannabis for medicinal purposes in February 2019.
Many European countries have legalized the medical use of cannabis or cannabinoids and are considering changes in their legislation to legalize cannabis. The primary purpose of the resolution is to make a clear distinction between medical cannabis and other cannabis uses.
However, no European Union (EU) country authorizes the smoking or home-growing of cannabis for medicinal purposes. At the same time, the World Health Organization (WHO) has officially recommended that cannabis compound cannabidiol (CBD) not be classified as a controlled substance.
Cannabis or cannabinoids have therapeutic effects in stimulating appetite and alleviating mental disorders such as epilepsy, asthma, cancer and Alzheimer's. More research is needed, however. The primary objective of the European Parliament is to address research gaps in medical cannabis in the region and to call on Member States to seize the potential of cannabis-based medicines.
In addition, the success of cannabis-based medical products is confirmed by systematic studies of well-designed clinical trials (RCTs). It may also be moderately beneficial in multiple sclerosis, pain, and epilepsy. These conditions are most encountered in patients who use medical cannabis and are the most important in medical cannabis research. Moderately convincing evidence, as described in the 2017 NASEM study, describes 'several moderately convincing results from good to fair standard studies with much to no reliable adverse findings.'
The EU has also been successful in terms of basic research and technological advances. A new GBP 1.2 million research study in the UK would study the impact of CBD therapies on Parkinson-related psychosis, which affects more than 60% of Parkinson's patients. The French National Drug Protection Agency has approved clinical trials to study the effects of cannabis-derived drugs on certain medical conditions.
As a result, the need for more research in the therapeutic area and to stimulate innovations in medicinal cannabis projects is expected to see rapid growth in the region.
Product Type-Based Insights
Based on product type, the Europe medical cannabis market is segmented into flowers, concentrates, cannabis oil and topical ointments, capsules, tablets, and beverages & edibles. The flowers segment held the largest share of the market in 2021 and the beverages & edibles segment is expected to grow at the fastest rate in the coming years.
Europe Medical Cannabis Market, by Product Type– 2021 and 2028
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Medical Application-Based Insights
Based on medical application, the Europe medical cannabis market is segmented into pain management, neurological health management, mental health management, and others. The pain management segment held the largest share of the market in 2021 and is expected to grow at the highest CAGR from 2022 to 2028.
Compound-Based Insights
Based on compound, the Europe medical cannabis market is segmented into THC-Dominant, CBD-Dominant, and balanced THC & CBD. The THC-Dominant segment held the largest share of the market in 2021 and is expected to grow at the highest CAGR from 2022 to 2028.
A few developments that have promoted the growth of the Europe medical cannabis market are listed below:
- In November 2021, VIVO Cannabis Inc. launched its new products under its Lumina health and wellness brand. Lumina Ultralight 0:50 is a high cannabidiol (CBD) full-spectrum oil. Lumina Spotlight 1:2 topical is a CBD-focused balanced topical with tetrahydrocannabinol (THC).
- In December 2021, Teva Israel and Tikun Olam signed the first commercial and exclusive agreement for the marketing and distribution of medical cannabis oil.
Company Profiles
Organigram Holdings Inc; Aurora Cannabis Inc; Cannabis Science, Inc; Canopy Growth Corporation; Medical Marijuana Inc; VIVO Cannabis Inc; Tikun Olam; Tilray; The Cronos Group; and Canvory are among the prominent players in the Europe medical cannabis market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Medical Application, Compound -Dominant, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Czechia, Germany, Denmark, Switzerland, Malta, Poland,
Frequently Asked Questions
Cannabis belongs to the cannabaceae family. Cannabis is also known with other names such as grass, pot, hash, weed, reefer, dope, herb, mull, buddha, ganja, joint, stick, buckets, cones, skunk, hydro, yarndi, smoke and hooch. Cannabis has long been used as vegetables and as juice, medicinal purposes and as a recreational drug. Cannabis is a drug that is obtained from Indian hemp plants named cannabis indica and cannabis sativa. There are different forms of cannabis available such as marijuana, hashish and Hash oil. Some species of cannabis are used to produce hemp fibre for use in paper, textiles and clothing. Cannabis is used for medical purposes for many years. Recent studies show that cannabis may be useful to help conditions such as nausea and vomiting, particularly when associated with chemotherapy, glaucoma, epilepsy and asthma.
The factors that are driving the growth of the Europe medical cannabis market are the increasing research activities on medicinal use of cannabis and increasing government funding & focus on cannabis use.
The Europe medical cannabis market majorly consists of the players, such as Organigram Holdings Inc; Aurora Cannabis Inc; Cannabis Science, Inc; Canopy Growth Corporation; Medical Marijuana Inc; VIVO Cannabis Inc; Tikun Olam; Tilray; The Cronos Group; and Canvory.
The CAGR value of the Europe medical cannabis market during the forecasted period of 2022-2028 is 61.1%
The Europe medical cannabis market is estimated to be valued at US$ 492.1 million in 2021.
The Europe medical cannabis market is expected to be valued at US$ 13,801.0 million in 2028.
The flowers segment held the largest share of the market in 2021. However, the beverages and edibles segment is estimated to register a CAGR of 62.9% in the market from 2022 –2028.
The Poland is expected to be the fastest-growing region in the Europe medical cannabis market over the forecast period due to increased developments by market players and growing government support for medical cannabis cultivation is further likely to contribute to the growth of the region.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Medical Cannabis Market– By Product Type
1.3.2 Europe Medical Cannabis Market– By Medical Application
2. Europe Medical Cannabis Market– Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Primary Research
4. Europe Medical Cannabis– Market Landscape
4.1 Overview
4.1.1 Europe PEST Analysis
4.2 Expert Opinions
5. Europe Medical Cannabis Market– Key Industry Dynamics
5.1.1 Increasing Research Activities on Medicinal Use of Cannabis
5.1.2 Increasing Government Funding and Focus on Cannabis Use
5.2 Market Restraints
5.2.1 Illegal Cannabis Used as Street Drug
5.3 Market Opportunities
5.3.1 Growing Demand for Cannabis During COVID-19
5.4 Future Trends
5.4.1 Increased Acceptance and Distribution of Medical Cannabis
5.5 Impact analysis
6. Medical Cannabis Market– Europe Analysis
6.1 Europe Medical Cannabis Market Revenue Forecasts and Analysis
6.2 Company Analysis
6.2.1 Market Positioning of Key Players in Europe Medical Cannabis Market
6.2.2 Comparative Company Analysis
6.2.3 Growth Strategy Analysis
6.2.4 Performance of Key Players
6.2.4.1 Aurora Cannabis, Inc.
6.2.4.2 Medical Marijuana Inc.
6.2.4.3 The Cronos Group
7. Medical Cannabis Market Analysis and Forecasts To 2028 – Product Type
7.1 Overview
7.2 Europe Medical Cannabis Market Share by Product Type 2021 & 2028 (%)
7.3 Flowers Market
7.3.1 Overview
7.3.2 Flowers Market Revenue and Forecast to 2028 (US$ Mn)
7.4 Concentrates Market
7.4.1 Overview
7.4.2 Concentrates Market Revenue and Forecast to 2028 (US$ Mn)
7.5 Cannabis Oil & Topical Ointments Market
7.5.1 Overview
7.5.2 Cannabis Oil & Topical Ointments Market Revenue and Forecast to 2028 (US$ Mn)
7.6 Tablets Market
7.6.1 Overview
7.6.2 Tablets Market Revenue and Forecast to 2028 (US$ Mn)
7.7 Capsules Market
7.7.1 Overview
7.7.2 Capsules Market Revenue and Forecast to 2028 (US$ Mn)
7.8 Beverages and Edibles Market
7.8.1 Overview
7.8.2 Beverages and Edibles Market Revenue and Forecast to 2028 (US$ Mn)
8. Medical Cannabis Market Analysis and Forecasts To 2028 – Medical Application
8.1 Overview
8.2 Europe Medical Cannabis Market Share by Medical Application 2021 & 2028 (%)
8.3 Pain Management
8.3.1 Overview
8.3.1.1 Pain Management Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Neurological Health Management
8.4.1 Overview
8.4.1.1 Neurological Health Management Market Revenue and Forecast to 2028 (US$ Mn)
8.5 Mental Health Management
8.5.1 Overview
8.5.1.1 Mental Health Management Market Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.1.1 Others Market Revenue and Forecast to 2028 (US$ Mn)
9. Medical Cannabis Market Analysis and Forecasts To 2028 – Compound
9.1 Overview
9.2 Europe Medical Cannabis Market Share by Compound 2021 & 2028 (%)
9.3 Tetrahydrocannabinol (THC)-Dominant Market
9.3.1 Overview
9.3.2 Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Cannabidiol (CBD)-Dominant Market
9.4.1 Overview
9.4.2 Cannabidiol (CBD)-Dominant Market Revenue and Forecast to 2028 (US$ Mn)
9.5 Balanced THC and CBD Market
9.5.1 Overview
9.5.2 Balanced THC and CBD Market Revenue and Forecast to 2028 (US$ Mn)
10. Europe Medical Cannabis Market Revenue and Forecasts To 2028
10.1 Overview
10.2 Europe Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.3 Europe Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.4 Europe Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)
10.5 Europe Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6 Europe Medical Cannabis Market Revenue and Forecasts to 2021 to 2028, By Country (%)
10.6.1 Germany Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.1.1 Germany Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.1.2 Germany Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.6.1.3 Germany Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)
10.6.1.4 Germany Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6.2 Switzerland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.2.1 Switzerland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.2.2 Switzerland Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.6.2.3 Switzerland Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)
10.6.2.4 Switzerland Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6.3 Denmark Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.3.1 Denmark Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.3.2 Denmark Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.6.3.3 Denmark Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)
10.6.3.4 Denmark Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6.4 Poland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.4.1 Poland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.4.2 Poland Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.6.4.3 Poland Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)
10.6.4.4 Poland Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)
10.6.5 Malta Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.5.1 Malta Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
10.6.5.2 Malta Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)
10.6.5.3 Malta Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)0
10.6.5.4 Malta Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)1
10.6.6 Czechia Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)2
10.6.6.1 Czechia Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)3
10.6.6.2 Czechia Medical Cannabis Market Revenue and Forecasts, by Product Type (US$ Mn)4
10.6.6.3 Czechia Medical Cannabis Market Revenue and Forecasts, By Medical Application (US$ Mn)5
10.6.6.4 Czechia Medical Cannabis Market Revenue and Forecasts, by Compound (US$ Mn)6
11. Impact of COVID-19 Pandemic on Europe Medical Cannabis Market7
11.1 Europe: Impact Assessment of COVID-19 Pandemic7
12. Medical Cannabis Market–Industry Landscape9
12.1 Organic Developments9
12.1.1 Overview9
12.2 Growth Strategies in the Europe Medical Cannabis Market0
12.2.1 Organic Developments Done by Companies1
12.3 Inorganic Developments3
12.3.1 Overview3
12.3.2 Inorganic Developments Done By Companies3
13. Company Profiles6
13.1 Aurora Cannabis Inc.6
13.1.1 Key Facts6
13.1.2 Business Description6
13.1.3 Products and Services7
13.1.4 Financial Overview7
13.1.5 SWOT Analysis9
13.1.6 Key Developments9
13.2 Cannabis Science, Inc1
13.2.1 Key Facts1
13.2.2 Business Description1
13.2.3 Products and Services2
13.2.4 Financial Overview2
13.2.5 SWOT Analysis3
13.2.6 Key Developments3
13.3 Canopy Growth Corporation4
13.3.1 Key Facts4
13.3.2 Business Description4
13.3.3 Products and Services5
13.3.4 Financial Overview5
13.3.5 SWOT Analysis7
13.3.6 Key Developments8
13.4 Medical Marijuana Inc9
13.4.1 Key Facts9
13.4.2 Business Description9
13.4.3 Products and Services9
13.4.4 Financial Overview0
13.4.5 SWOT Analysis1
13.4.6 Key Developments2
13.5 VIVO Cannabis Inc3
13.5.1 Key Facts3
13.5.2 Business Description3
13.5.3 Products and Services4
13.5.4 Financial Overview4
13.5.5 SWOT Analysis6
13.5.6 Key Developments7
13.6 Tikun Olam8
13.6.1 Key Facts8
13.6.2 Business Description8
13.6.3 Products and Services8
13.6.4 Financial Overview8
13.6.5 SWOT Analysis9
13.6.6 Key Developments0
13.7 Tilray1
13.7.1 Key Facts1
13.7.2 Business Description1
13.7.3 Products and Services2
13.7.4 Financial Overview2
13.7.5 SWOT Analysis5
13.7.6 Key Developments6
13.8 The Cronos Group7
13.8.1 Key Facts7
13.8.2 Business Description7
13.8.3 Products and Services8
13.8.4 Financial Overview8
13.8.5 SWOT Analysis1
13.8.6 Key Developments2
13.9 CANVORY3
13.9.1 Key Facts3
13.9.2 Business Description3
13.9.3 Products and Services4
13.9.4 Financial Overview5
13.9.5 SWOT Analysis5
13.9.6 Key Developments5
13.10 Organigram Holdings Inc.6
13.10.1 Key Facts6
13.10.2 Business Description6
13.10.3 Products and Services6
13.10.4 Financial Overview7
13.10.5 SWOT Analysis8
13.10.6 Key Developments8
14. Appendix9
14.1 About The Insight Partners9
14.2 Glossary of Terms9
LIST OF TABLES
Table 1. Europe Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 2. Europe Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)
Table 3. Europe Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)
Table 4. Germany Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 5. Germany Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)
Table 6. Germany Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)
Table 7. Switzerland Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 8. Switzerland Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)
Table 9. Switzerland Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)
Table 10. Denmark Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 11. Denmark Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)
Table 12. Denmark Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)
Table 13. Poland Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 14. Poland Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)
Table 15. Poland Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)
Table 16. Malta Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)
Table 17. Malta Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)0
Table 18. Malta Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)1
Table 19. Czechia Medical Cannabis Market Revenue and Forecasts To 2028, By Product Type (US$ Mn)4
Table 20. Czechia Medical Cannabis Market Revenue And Forecasts To 2028, By Medical Application (US$ Mn)5
Table 21. Czechia Medical Cannabis Market Revenue and Forecasts To 2028, By Compound (US$ Mn)6
Table 22. Recent Organic Growth Strategies in the Europe Medical Cannabis Market1
Table 23. Glossary of Terms, Medical Cannabis Market9
LIST OF FIGURES
Figure 1. Medical Cannabis Market Segmentation
Figure 2. Medical Cannabis Segmentation, By Country
Figure 3. Flowers Segment Held Largest Share Of The Product Type Segment In Medical Cannabis Market
Figure 4. Europe Medical Cannabis Market, By Country (US$ Mn)
Figure 5. Europe Medical Cannabis Market, Industry Landscape
Figure 6. Europe: PEST Analysis
Figure 7. Europe Medical Cannabis Market– Revenue Forecasts and Analysis – 2022- 2028
Figure 8. Market Positioning of Key Players in Europe Medical Cannabis Market
Figure 9. Europe Medical Cannabis Market – Comparative Company Analysis
Figure 10. Europe medical cannabis Market – Growth Strategy Analysis
Figure 11. Europe Medical Cannabis Market Share by Product Type 2021 & 2028 (%)
Figure 12. Flowers Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 13. Concentrates Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 14. Cannabis Oil & Topical Ointments Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 15. Tablets Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 16. Capsules Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 17. Beverages and Edibles Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 18. Europe Medical Cannabis Market Share by Medical Application, 2021 & 2028 (%)
Figure 19. Pain Management Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 20. Neurological Health Management Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 21. Mental Health Management Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 22. Others Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 23. Europe Medical Cannabis Market Share by Compound 2021 & 2028 (%)
Figure 24. Tetrahydrocannabinol (THC)-Dominant Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 25. Cannabidiol (CBD)-Dominant Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 26. Balanced THC and CBD Market Revenue And Forecasts To 2028 (US$ Mn)
Figure 27. Europe Medical Cannabis Market Revenue, By Country, 2019 (US$ MN)
Figure 28. Europe Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 29. Europe Medical Cannabis Market Revenue and Forecasts 2021 to 2028, By Country (%)
Figure 30. Germany Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 31. Switzerland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 32. Denmark Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 33. Poland Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 34. Malta Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)
Figure 35. Spain Medical Cannabis Market Revenue and Forecasts To 2028 (US$ Mn)3
Figure 36. Impact of COVID-19 Pandemic on Medical Cannabis Market in European Countries8
Figure 37. Growth Strategies in the Europe Medical Cannabis Market0
The List of Companies - Europe Medical Cannabis Market
- Organigram Holdings Inc
- Aurora Cannabis Inc
- Cannabis Science, Inc
- Canopy Growth Corporation
- Medical Marijuana Inc
- VIVO Cannabis Inc
- Tikun Olam
- Tilray
- The Cronos Group
- Canvory
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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Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Laser Type (CO2 Laser, Diode Laser, Erbium Laser, Nd:YAG Laser, Holmium Laser, Alexandrite Laser, and Others), Material (Silica-Based Fibers, Quartz Fibers, Polymer-Based Fibers, Multimode Fibers, and Others), Power (Low-Power Lasers, Medium-Power Lasers, and High-Power Lasers), Application (Urology, Dermatology, Gynecology, Cardiology, Neurology, Ophthalmology, Respiratory, Dentistry and Others), Wavelength (9,301 nm and above, 2,941–9,300 nm, and 1,441–2,940 nm, 821–1,440 nm, 710–820 nm, and below 710 nm), End User (Hospitals, Specialty Clinics, Physician Office, and Others), and Geography
Nov 2022
Therapeutic Vaccines Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Cancer Vaccines, Infectious Disease Vaccines, and Others), Technology (Allogenic Vaccines and Autologous Vaccines), End User (Hospitals, Clinics, and Others), and Geography
Nov 2022
Medical Cables Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Disposable Medical Cables, Reusable Medical Cables, and Custom Medical Cables), Applications [Diagnostics (Ultrasound Cables, Endoscopy Cables, Patient Interface Cables, and Others), Motorized Equipment, Patient Monitoring (ECG Cables, SpO2 Cables, NiBP Cables, EEG Cables, and Others), Surgical and Life Support (Fiber Optics, Modular Local Area Network, and Others), and Others], End User (Hospital and Clinics, Diagnostic Laboratories and Imaging Centers, Ambulatory Surgical Centers, and Others), and Geography
Nov 2022
Laser-Assisted ENT Surgeries Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Laser Type (C02 Laser, Nd:YAG Laser, Diode Laser, Blue Laser, KTP Laser, Argon Laser, and Other Laser Types), Surgery Type [Laser Laryngeal Surgery, Laser Endoscopic Sinus Surgery (LESS), Laser-Assisted Uvulopalatoplasty (LAUP), Laser-Assisted Stapedotomy, Laser-Assisted Tonsillectomy and Adenoidectomy, Laser Turbinates Reduction, Transoral Laser Microsurgery (TLM), Nasal Surgery, and Other Surgery Types], End User (Hospitals and Specialty Clinics, Physician Offices, and Other End Users), and Geography (North America, Europe, Asia Pacific, South and Central America, and Middle East and Africa)
Nov 2022
Mobile Cleanroom Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Softwall and Hardwall), End User (Microelectronics Industry, Pharmaceuticals and Biotechnology Industry, Medical Device Manufacturers, and Others), and Geography
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