The human liver models market is projected to reach US$ 508.26 million by 2028 from US$ 233.90 million in 2021; it is expected to grow at a CAGR of 11.7% from 2021 to 2028.
The market's growth is primarily attributed to the increasing prevalence of liver diseases and the growing focus on developing alternatives for animal testing models. However, the high costs of human liver models and issues with incorporating liver models into existing workflow are hindering the Human Liver Models market growth. The liver is an important organ that performs vital body functions such as synthesis of blood clotting factors, bile production, protein production, and detoxification. Human liver models are used to study the drug's toxicity and enable understanding of the effect of drugs and the progression of liver disease. The rising focus on developing alternatives for the animal testing models is one of the major factors estimated to encourage the growth of the global human liver models in the next few years.
The Asia Pacific biopharmaceutical industry was disturbed for a few months of 2020, owing to the COVID-19 outbreak. The COVID-19 pandemic has affected clinical trials in an unparalleled manner due to multiple levels of restrictions imposed to control the spread of infection. However, with the rising demand for products to treat the COVID-19 infection, the biopharmaceutical and pharmaceutical companies in India and China have increased their research activities, which is positively impacting the market growth.
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Human Liver Models Market: Strategic Insights
Market Size Value in US$ 233.90 million in 2021 Market Size Value by US$ 508.26 million by 2028 Growth rate CAGR of 11.7% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Human Liver Models Market: Strategic Insights
| Market Size Value in | US$ 233.90 million in 2021 |
| Market Size Value by | US$ 508.26 million by 2028 |
| Growth rate | CAGR of 11.7% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Market Insights
Increasing Prevalence of Liver Diseases Fuel Human Liver Models Market Growth
The liver is the largest internal organ in the human body and performs over 500 functions. Liver toxicity is a major concern in risk assessment as the liver is exposed to most xenobiotic compounds and their bioactive metabolites, making it susceptible to chemically induced liver disease. Hepatitis C virus (HCV), chronic hepatitis B virus (HBV), nonalcoholic fatty liver disease (NAFLD), and alcohol-associated liver disease (ALD) are among the leading causes of chronic liver disease. Viral hepatitis continues to be the leading cause of death cases caused by liver failure, and at the same time, the NAFLD has become one of the fastest-growing contributors to liver morbidity and associated mortality. According to the national statistics of the UK, liver diseases have been ranked the fifth-leading cause of death in the country.
Furthermore, these diseases are considered the second-leading cause of death among all digestive diseases in the US. According to the American Association for the Study of Liver Diseases, in 2017, the global burden of liver cancer and cirrhosis had increased. The NAFLDs have an estimated prevalence of ~25% in the general population. Nearly a third of the US population has the NAFLD, and people with Type 2 diabetes mellitus or obesity are disproportionately affected; the number of cases with NAFLD is expected to increase from 83.1 million people in 2015 to 100.9 million by 2030. Thus, a rise in the global prevalence of liver diseases, including chronic and acute diseases and microbial infections, increases the demand for liver models.
Type-Based Insights
Based on type, the human liver models market is further segmented into liver organoids, liver-on-a-chip, 2D models, 3D bioprinting, and others. The liver organoids segment holds the largest share of the market. However, the liver-on-a-chip segment is anticipated to register the highest CAGR during 2021–2028. Advances in liver organoid technology provide models for prenatal development, tissue preservation, and pathologies, which would propel the market growth of this segment in the coming years.
Application-Based Insights
Based on application, the human liver models market is further segmented into educational, drug discovery, and others. The drug discovery segment holds the largest share of the human liver models market; however, the educational segment is anticipated to register the highest CAGR during the forecast period.
End User-Based Insights
Based on end user, the human liver models market is segmented into research institutes, pharmaceutical and biotechnology companies, and others. The pharmaceutical and biotechnology companies segment holds the largest market share. However, the research institutes segment is estimated to register the highest CAGR during the forecast period. The projected market growth for this segment can be attributed to an increase in collaborations between industry and universities for genome research and technological advances in the production of human liver models.
Companies operating in the human liver models market are adopting product innovations strategy to meet the evolving customer demands worldwide, which also permits them to maintain their brand name in the global market.
Human Liver Models Market Report Scope
Human Liver Models Market – by Type
- Liver Organoids
- Liver-on-a-chip
- 2D Models
- 3D Bioprinting
- Others
Human Liver Models Market – by Application
- Drug Discovery
- Educational
- Other
Human Liver Models Market – by End User
- Pharmaceutical and Biotechnology Companies
- Research Institutes
- Others
Human Liver Models Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- THERMO FISHER SCIENTIFIC INC.
- Emulate, Inc.
- CN Bio Innovations,
- CYFUSE BIOMEDICAL K.K.
- MIMETAS BV
- InSphero
- BioIVT
- CELLINK
- Kerafast
- Cyprio
- Kirkstall
- ORGANOVO HOLDINGS INC
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The liver-on-a-chip segment is growing at the highest CAGR owing to increasing demand for cost-effective alternatives to animal models for drug research and development.
Asia Pacific is expected to be the fastest growing region in the Human Liver Models market. The growth of the market in this region is primarily due to growing biopharmaceutical industry, increasing number of clinical trials, and increasing research activities for the development of innovative therapies.
North America dominates the global human liver models market due to factors such as increasing incidences of the liver diseases such as cirrhosis, chronic liver disease (CLD), Nonalcoholic fatty liver disease (NAFLD) and others across the country. Moreover, the growth of market in Canada is expected to grow due to increasing support from the government to address the rising concerns about the liver diseases.
The factors that are driving growth of the market are increasing prevalence of liver diseases, and growing focus on developing alternatives for animal testing models.
Various companies have made organic growth strategies in the human liver models market. Some of the activities undertaken by the company, which have promoted its growth are, launches, enhancements and expansion & relocation activities. Companies such as InSphero, Emulate, Inc amongst others are some of the companies that have been implementing various organic strategies that have helped the growth of the company.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Human Liver Models Market – By Type
1.3.2 Global Human Liver Models Market – By Application
1.3.3 Global Human Liver Models Market – By End User
1.3.4 Global Human Liver Models Market – By Geography
2. Global Human Liver Models Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Human Liver Models Market – 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 (SCAM) – PEST Analysis
4.3 Experts Opinion
5. Human Liver Models Market– Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Liver Diseases
5.1.2 Growing Focus on Developing Alternatives for Animal Testing
5.2 Market Restraints
5.2.1 High Cost of Liver Models
5.2.2 Issues with Incorporation of Liver Models into Existing Workflow
5.3 Market Opportunities
5.3.1 Strong Focus on Drug Discovery Activities
5.4 Future Trends
5.4.1 Technological Advancements in Organ Printing
5.1 Impact analysis
6. Human Liver Models Market – Global Analysis
6.1 Global Human Liver Models Market Revenue Forecast and Analysis
6.2 Global Human Liver Models Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Human Liver Models Market Analysis – By Type
7.1 Overview
7.2 Human Liver Models Market Revenue Share, by Type (2021 and 2028)
7.3 Liver Organoids
7.3.1 Overview
7.3.2 Liver Organoids: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
7.4 Liver-on-a-chip
7.4.1 Overview
7.4.2 Liver-on-a-chip: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
7.5 2D Models
7.5.1 Overview
7.5.2 2D Models: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
7.6 3D Bioprinting
7.6.1 Overview
7.6.2 3D Bioprinting: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
7.7 Others
7.7.1 Overview
7.7.2 Others: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
8. Human Liver Models Market Analysis – By Application
8.1 Overview
8.2 Human Liver Models Market Share, by Application, 2021 and 2028, (%)
8.3 Educational
8.3.1 Overview
8.3.2 Educational: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
8.4 Drug Discovery
8.4.1 Overview
8.4.2 Drug Discovery: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
8.5 Other
8.5.1 Overview
8.5.2 Other: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
9. Human Liver Models Market Analysis – By End User
9.1 Overview
9.2 Human Liver Models Market Share, by End User, 2021 and 2028, (%)
9.3 Research Institutes
9.3.1 Overview
9.3.2 Research Institutes: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
9.4 Pharmaceutical and Biotechnology Companies
9.4.1 Overview
9.4.2 Pharmaceutical and Biotechnology Companies: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
9.5 Others
9.5.1 Overview
9.5.2 Others: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
10. Global Human Liver Models Market – Geographic Analysis
10.1 North America: Human Liver Models Market
10.1.1 Overview
10.1.2 North America: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.3 North America: Human Liver Models Market, by Type, 2019–2028 (US$ Thousand)
10.1.4 North America: Human Liver Models Market, by Application, 2019–2028 (US$ Thousand)
10.1.5 North America: Human Liver Models Market, by End User, 2019–2028 (US$ Thousand)
10.1.6 North America: Human Liver Models Market, by Country, 2021 & 2028 (%)
10.1.6.1 US: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.1.1 US: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.1.2 US: Human Liver Models Market, by Type, 2019–2028 (US$ Thousand)
10.1.6.1.3 US: Human Liver Models Market, by Application, 2019–2028 (US$ Thousand)
10.1.6.1.4 US: Human Liver Models Market, by End User, 2019–2028 (US$ Thousand)
10.1.6.2 Canada: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.2.1 Canada: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.2.2 Canada: Human Liver Models Market, by Type, 2019–2028 (US$ Thousand)
10.1.6.2.3 Canada: Human Liver Models Market, by Application, 2019–2028 (US$ Thousand)
10.1.6.2.4 Canada: Human Liver Models Market, by End User, 2019–2028 (US$ Thousand)
10.1.6.3 Mexico: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.3.1 Mexico: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
10.1.6.3.2 Mexico: Human Liver Models Market, by Type– 2019–2028 (US$ Thousand)
10.1.6.3.3 Mexico: Human Liver Models Market, by Application – 2019–2028 (US$ Thousand)
10.1.6.3.4 Mexico: Human Liver Models Market, by End User, 2019–2028 (US$ Thousand)
10.2 Europe: Human Liver Models Market
10.2.1 Overview
10.2.2 Europe: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.3 Europe: Human Liver Models Market, by Type– Revenue and Forecast to 2028 (USD Thousand)
10.2.4 Europe: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.5 Europe: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6 Europe: Human Liver Models Market, by Country, 2021 & 2028 (%)
10.2.6.1 Germany: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.1.1 Germany: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.1.2 Germany: Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.1.3 Germany: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.1.4 Germany: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.2 France: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.2.1 France: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.2.2 France: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.2.3 France: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.2.4 France: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.3 UK: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.3.1 UK: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.3.2 UK: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.3.3 UK: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.3.4 UK: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.4 Spain: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.4.1 Spain: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.4.2 Spain: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.4.3 Spain: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.4.4 Spain: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.5 Italy: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.5.1 Italy: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.5.2 Italy: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.5.3 Italy: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.5.4 Italy: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.6 Rest of Europe: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.6.1 Rest of Europe: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.6.2 Rest of Europe: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.6.3 Rest of Europe: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.2.6.6.4 Rest of Europe: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.3 Asia Pacific: Human Liver Models Market
10.3.1 Overview
10.3.2 Asia Pacific: Human Liver Models Market - Revenue and Forecast to 2028 (USD Thousand)
10.3.3 Asia Pacific: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.4 Asia Pacific: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.5 Asia Pacific: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6 Asia Pacific: Human Liver Models Market, by Country, 2021 & 2028 (%)
10.3.6.1 China: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.1.1 China: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.1.2 China: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.1.3 China: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.1.4 China: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6.2 Japan: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.2.1 Japan: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.2.2 Japan: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.2.3 Japan: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.2.4 Japan: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6.3 India: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.3.1 India: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.3.2 India: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.3.3 India: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.3.4 India: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6.4 Australia: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.4.1 Australia: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.4.2 Australia: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.4.3 Australia: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.4.4 Australia: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6.5 South Korea: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.5.1 South Korea: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.5.2 South Korea: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.5.3 South Korea: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.5.4 South Korea: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.3.6.6 Rest of Asia Pacific: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.6.1 Rest of Asia Pacific: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
10.3.6.6.2 Rest of Asia Pacific: Human Liver Models Market, by Type, 2019–2028 (USD Thousand)
10.3.6.6.3 Rest of Asia Pacific: Human Liver Models Market, By Application, 2019–2028 (USD Thousand)
10.3.6.6.4 Rest of Asia Pacific: Human Liver Models Market, by End User, 2019–2028 (USD Thousand)
10.4 Middle East & Africa Human Liver Models Market
10.4.1 Overview
10.4.2 Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.3 Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
10.4.4 Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
10.4.5 Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
10.4.6 Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Country (%)
10.4.6.1 UAE Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.1.1 UAE Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.1.2 UAE Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
10.4.6.1.3 UAE Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
10.4.6.1.4 UAE Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
10.4.6.2 Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.2.1 Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.2.2 Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
10.4.6.2.3 Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
10.4.6.2.4 Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
10.4.6.3 South Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.3.1 South Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.6.3.2 South Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
10.4.6.4 South Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
10.4.6.5 South Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
10.4.7 Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.7.1 Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
10.4.7.2 Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type (US$ Thousand)
10.4.7.3 Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
10.4.7.4 Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
10.5 South and Central America: Human Liver Models Market
10.5.1 Overview
10.5.2 South and Central America: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.3 South and Central America Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
10.5.4 South and Central America Human Liver Models Market, by Application– Revenue and Forecast to 2028 (US$ Thousand)
10.5.5 South and Central America Human Liver Models Market, by End User– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6 South and Central America: Human Liver Models Market, by Country, 2021 & 2028 (%)
10.5.6.1 Brazil: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.1.1 Overview
10.5.6.2 Brazil: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.2.1 Brazil Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.2.2 Brazil Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.2.3 Brazil Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.3 Argentina: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.3.1 Overview
10.5.6.3.2 Argentina: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.3.3 Argentina Human Liver Models Market, by Type- Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.3.4 Argentina Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.3.5 Argentina Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.4 Rest of South and Central America: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.4.1 Overview
10.5.6.4.2 Rest of South and Central America: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.4.3 Rest of South and Central America Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.4.4 Rest of South and Central America Human Liver Models Market, by Application– Revenue and Forecast to 2028 (US$ Thousand)
10.5.6.4.5 Rest of South and Central America Human Liver Models Market, by End User– Revenue and Forecast to 2028 (US$ Thousand)
11. Impact Of COVID-19 Pandemic on Human Liver Models Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment Of COVID-19 Pandemic
11.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.5 South and Central America: Impact Assessment of COVID-19 Pandemic
12. Human Liver Models Market–Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 THERMO FISHER SCIENTIFIC INC.
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 Emulate, Inc.
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 CN Bio Innovations
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 CYFUSE BIOMEDICAL K.K.
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 MIMETAS BV
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 InSphero
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 BioIVT
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 CELLINK
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 Kerafast
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 Cyprio
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 Kirkstall
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
13.12 ORGANOVO HOLDINGS INC.
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 2. North America Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 3. North America Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 4. US: Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 5. US: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 6. US Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 7. Canada Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 8. Canada Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 9. Canada Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 10. Mexico Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 11. Mexico Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 12. Mexico Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 13. Europe: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 14. Europe: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 15. Europe: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 16. Germany: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 17. Germany: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 18. Germany: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 19. France: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 20. France: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 21. France: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 22. UK: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 23. UK: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 24. UK: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 25. Spain: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 26. Spain: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 27. Spain: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 28. Italy: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 29. Italy: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 30. Italy: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 31. Rest of Europe: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (US$ Thousand)
Table 32. Rest of Europe: Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 33. Rest of Europe: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 34. Asia Pacific: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (USD Thousand)
Table 35. Asia Pacific Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 36. Asia Pacific Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 37. China: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (USD Thousand)
Table 38. China: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 39. China: Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 40. Japan: Human Liver Models Market, by Type– Revenue and Forecast to 2028 (USD Thousand)
Table 41. Japan: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 42. Japan: Human Liver Models Market, by End User – Revenue and Forecast to 2028 (USD Thousand)
Table 43. India: Human Liver Models Market, by Type– Revenue and Forecast to 2028 (USD Thousand)
Table 44. India: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 45. India: Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 46. Australia: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (USD Thousand)
Table 47. Australia: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 48. Australia: Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 49. South Korea: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (USD Thousand)
Table 50. South Korea: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 51. South Korea: Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 52. Rest of Asia Pacific: Human Liver Models Market, by Type – Revenue and Forecast to 2028 (USD Thousand)
Table 53. Rest of Asia Pacific: Human Liver Models Market, By Application – Revenue and Forecast to 2028 (USD Thousand)
Table 54. Rest of Asia Pacific: Human Liver Models Market, by End User– Revenue and Forecast to 2028 (USD Thousand)
Table 55. Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
Table 56. Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
Table 57. Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
Table 58. UAE Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
Table 59. UAE Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
Table 60. UAE Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
Table 61. Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
Table 62. Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
Table 63. Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
Table 64. South Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type(US$ Thousand)
Table 65. South Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
Table 66. South Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
Table 67. Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By Type (US$ Thousand)
Table 68. Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By Application (US$ Thousand)
Table 69. Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028, By End User (US$ Thousand)
Table 70. South and Central America Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 71. South and Central America Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 72. South and Central America Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 73. Brazil Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 74. Brazil Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 75. Brazil Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 76. Argentina Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 77. Argentina Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 78. Argentina Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 79. Rest of South and Central America Human Liver Models Market, by Type– Revenue and Forecast to 2028 (US$ Thousand)
Table 80. Rest of South and Central America Human Liver Models Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)
Table 81. Rest of South and Central America Human Liver Models Market, by End User – Revenue and Forecast to 2028 (US$ Thousand)
Table 82. Organic Developments Done by Companies
Table 83. Inorganic Developments Done by Companies
Table 84. Glossary of Terms, Human Liver Models Market
LIST OF FIGURES
Figure 1. Human Liver Models Market Segmentation
Figure 2. Human Liver Models Market Segmentation, By Region
Figure 3. Global Human Liver Models Market Overview
Figure 4. Liver Organoids Held the Largest Share of the Type Segment in Human Liver Models Market
Figure 5. Asia Pacific to Show Significant Growth During Forecast Period
Figure 6. Human Liver Models Market, by Geography (US$ Thousand)
Figure 7. Global Human Liver Models Market – Leading Country Markets (US$ Thousand)
Figure 8. Global Human Liver Models Market, Industry Landscape
Figure 9. North America PEST Analysis
Figure 10. Europe and PEST Analysis
Figure 11. Asia Pacific PEST Analysis
Figure 12. Middle East and Africa PEST Analysis
Figure 13. South and Central America (SCAM) PEST Analysis
Figure 14. Human Liver Models Market Impact Analysis of Drivers and Restraints
Figure 15. Global Human Liver Models Market – Revenue Forecast and Analysis – 2020- 2028
Figure 16. Global Human Liver Models Market – By Geography Forecast and Analysis – 2021- 2028
Figure 17. Market Positioning of Key Players in Global Human Liver Models Market
Figure 18. Human Liver Models Market Revenue Share, by Type (2021 and 2028)
Figure 19. Liver Organoids: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 20. Liver-on-a-chip: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 21. 2D Models: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 22. 3D Bioprinting: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 23. Others: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 24. Human Liver Models Market Share, by Application, 2021 and 2028 (%)
Figure 25. Educational: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 26. Drug Discovery: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 27. Other: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 28. Human Liver Models Market Share, by End User, 2021 and 2028 (%)
Figure 29. Research Institutes: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 30. Pharmaceutical and Biotechnology Companies: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 31. Others: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousands)
Figure 32. North America: Human Liver Models Market, by Key Country – Revenue (2021) (US$ Thousand)
Figure 33. North America Human Liver Models Market Revenue and Forecast to 2028 (US$ Thousand)
Figure 34. North America: Human Liver Models Market, by Country, 2021 & 2028 (%)
Figure 35. US: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 36. Canada: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 37. Mexico: Human Liver Models Market – Revenue and Forecast to 2028 (US$ Thousand)
Figure 38. Europe: Human Liver Models Market, by Key Country – Revenue (2021) (USD Thousand)
Figure 39. Europe: Human Liver Models Market Revenue and Forecast to 2028 (US$ Thousand)
Figure 40. Europe: Human Liver Models Market, by Country, 2021 & 2028 (%)
Figure 41. Germany: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 42. France: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 43. UK: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 44. Spain: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 45. Italy: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 46. Rest of Europe: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 47. Asia Pacific: Human Liver Models Market, by Key Country – Revenue (2021) (USD Thousand)
Figure 48. Asia Pacific Human Liver Models Market Revenue and Forecast to 2028 (USD Thousand)
Figure 49. Asia Pacific: Human Liver Models Market, by Country, 2021 & 2028 (%)
Figure 50. China: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 51. Japan: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 52. India: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 53. Australia: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 54. South Korea: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 55. Rest of Asia Pacific: Human Liver Models Market – Revenue and Forecast to 2028 (USD Thousand)
Figure 56. Middle East & Africa Human Liver Models Market Revenue Overview, by Country (2021) (US$ Thousand)
Figure 57. Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
Figure 58. Middle East & Africa Human Liver Models Market Revenue and Forecasts to 2028, By Country (%)
Figure 59. UAE Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
Figure 60. Saudi Arabia Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
Figure 61. South Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
Figure 62. Rest of Middle East and Africa Human Liver Models Market Revenue and Forecasts to 2028 (US$ Thousand)
Figure 63. South and Central America: Human Liver Models Market, by Key Country – Revenue (2021) (US$ Thousand)
Figure 64. South and Central America Human Liver Models Market Revenue and Forecast to 2028 (US$ Thousand)
Figure 65. South and Central America: Human Liver Models Market, by Country, 2021 & 2028 (%)
Figure 66. Brazil: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 67. Argentina: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 68. Rest of South and Central America: Human Liver Models Market– Revenue and Forecast to 2028 (US$ Thousand)
Figure 69. Impact of COVID-19 Pandemic in North American Country Markets
Figure 70. Impact of COVID-19 Pandemic in European Country Markets
Figure 71. Impact of COVID-19 Pandemic in European Country Markets
Figure 72. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 73. Impact Of COVID-19 Pandemic in South and Central America Africa Country Markets
Figure 74. Growth Strategies Done by the Companies in the Market, (%)
The List of Companies - Human Liver Models Market
- THERMO FISHER SCIENTIFIC INC.
- Emulate, Inc.
- CN Bio Innovations,
- CYFUSE BIOMEDICAL K.K.
- MIMETAS BV
- InSphero
- BioIVT
- CELLINK
- Kerafast
- Cyprio
- Kirkstall
- ORGANOVO HOLDINGS INC
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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