Middle East and Africa Veterinary Vaccines Market to Grow at a CAGR of 5.0% to reach US$ 599.21 Million from 2021 to 2028

Middle East and Africa Veterinary Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Vaccine Type (Livestock Vaccines [Bovine Vaccines and Small Ruminant Vaccines], Companion Animal Vaccines [Feline Vaccines, Canine Vaccines, and Others], and Others) and Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and Others)

  • Report Code : TIPRE00027167
  • Category : Life Sciences
  • Status : Published
  • No. of Pages : 125
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Middle East and Africa Veterinary Vaccines Market to Grow at a CAGR of 5.0% to reach US$ 599.21 Million from 2021 to 2028

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The MEA veterinary vaccines market is expected to grow from US$ 424.56 million in 2021 to US$ 599.21 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028.

Animal-borne diseases can pose a high risk to public health and can be detrimental to businesses and economies. Therefore, farmers and governments take various precautions, such as maintaining clean animal stalls and animal vaccinations, to prevent disease outbreaks. Influenza, one of the most prevalent infectious diseases, is a highly contagious airborne disease that appears as an acute febrile sickness with variable degrees of systemic symptoms ranging from mild fatigue to respiratory failure and death during seasonal epidemics. Infectious illnesses of pets and farm animals are a substantial danger to animal health and welfare. Effective control is critical for agricultural health, national and international food security, and poverty alleviation in several countries. Various cattle illnesses are endemic in numerous places across the region. Existing and novel pathogen threats continue to emerge due to climate change, agricultural practices, and demographics, all of which favor the spread of arthropod-borne diseases to new geographical areas. Zoonotic illnesses are rising and offering a new serious threat to human health. They can be transmitted directly or indirectly between animals and humans. The new influenza A (H1N1) virus's pandemic status is a recent example of the threat posed by zoonotic viruses. The incidence of the vector-borne disease has grown considerably over the last decade, corroborating the hypothesis that climate change is causing the formation of conditions in which arthropod vectors are environmentally sensitive. The growth of new infectious illnesses has been tremendous in tropical places (EIDs). While zoonotic emerging infectious disease (EIDs) are associated with biodiversity in wildlife, those associated with the emergence of new drug-resistant strains are associated with agronomic factors such as antibiotic use and population density. Controlling numerous essential animal diseases continues to make progress, and procedures are now in place to combine critical scientific competence with political resolve to succeed.  The first step of defense for many acute diseases is to employ cutting-edge diagnostic and surveillance techniques to establish a network of information about their spread and risk assessment. They are combined with efficient vaccine techniques for controlling important farm animal infections, particularly tests, and a continuous pipeline of new and improved vaccines that give long-lasting and durable protective immunity and are effective against many strains or variants. So, rising awareness related to diagnosis and treatment of infectious diseases is expected to drive the MEA market growth.   

In case of COVID-19, MEA is highly affected especially South Africa. The demand for veterinary vaccines decreased for a certain period until the new spread of the virus in animals hasn’t been confirmed. When the cases of several animals tested positive for the virus were reported in various parts of the region, a mix of established pharmaceutical companies involved in veterinary vaccines have mounted up R&D and manufacturing efforts to produce and develop vaccines, and drugs against the SARS-CoV-2 virus. The demand for veterinary vaccines has been increasing due to increasing incidences of zoonotic diseases, but the supply chain and service providers cannot satisfy the needs and have impacted largely. Supply disruption and medicine shortages of veterinary medicines have been observed in several countries, primarily due to the temporary lockdowns of manufacturing sites, export bans, and growing demand for medicine, for the treatment of COVID-19. Governments took measures to alleviate the supply of medicines. For instance, the South African Health Products Regulatory Authority issued guidance for companies responsible for veterinary medicines, with respect to the adaptations to the regulatory framework, primarily to address the challenges faced during this pandemic situation. The current veterinary vaccines markets in the MENA region differ considerably between the various nations. For example, high purchasing power and a cultural predilection for expensive foreign brands in Saudi Arabia have resulted in 85% of pharmaceuticals being imported.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA veterinary vaccines market. The MEA veterinary vaccines market is expected to grow at a good CAGR during the forecast period. 

MEA Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)  

 

MEA Veterinary Vaccines Market Segmentation

MEA Veterinary Vaccines Market – By Vaccine Type

  • Livestock Vaccines
    • Bovine Vaccines
    • Small Ruminant Vaccines
  • Companion Animal Vaccines
    • Feline Vaccines
    • Canine Vaccines
    • Others
  • Others

MEA Veterinary Vaccines Market – By Technology

  • Live Attenuated Vaccines
  • Inactivated Vaccines
  • Toxoid Vaccines
  • Recombinant Vaccines 
  • Conjugate Vaccines
  • Others

MEA Veterinary Vaccines Market, by Country

  • Saudi Arabia 
  • South Africa
  • UAE
  • Rest of MEA

MEA Veterinary Vaccines Market - Companies Mentioned

  • BIOVAC
  • Boehringer Ingelheim International GmbH
  • Ceva
  • Elanco
  • Hester Biosciences Limited
  • HIPRA
  • Merck & Co., Inc. 
  • NEOGEN Corporation
  • Virbac
  • Zoetis Inc.
   
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 MEA Veterinary Vaccines Market – By Vaccine Type

1.3.2 MEA Veterinary Vaccines Market – By Technology

1.3.3 MEA Veterinary Vaccines Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. MEA Veterinary Vaccines Market – Market Landscape

4.1 Overview

4.2 MEA PEST Analysis

4.3 Experts Opinion

5. MEA Veterinary Vaccines Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Surging Incidences of Zoonotic Diseases

5.1.2 Escalating Prevalence of Foodborne Diseases and Infections

5.2 Market Restraints

5.2.1 Strict Government Rules Related to Usage of Veterinary Vaccines

5.3 Market Opportunities

5.3.1 Market Expansion in Untapped Economies

5.4 Future Trends

5.4.1 Awareness of Diagnosis and Treatment of Variety of Infectious Diseases

5.5 Impact Analysis

6. Veterinary Vaccines Market– MEA Analysis

6.1 MEA Veterinary Vaccines Market Revenue Forecast and Analysis

7. MEA Veterinary Vaccines Market Revenue and Forecasts to 2028– By Vaccine Type

7.1 Overview

7.2 MEA Veterinary Vaccines Market, By Vaccine Type, 2021 & 2028 (%)

7.3 Livestock Vaccines

7.3.1 Overview

7.3.2 Livestock Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.3.3 Bovine Vaccines

7.3.3.1 Overview

7.3.3.2 Bovine Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.3.4 Small Ruminant Vaccines

7.3.4.1 Overview

7.3.4.2 Small Ruminant Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.4 Companion Vaccines

7.4.1 Overview

7.4.2 Companion Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.4.3 Feline Vaccines

7.4.3.1 Overview

7.4.3.2 Feline Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.4.4 Canine Vaccines

7.4.4.1 Canine Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.4.5 Other Companion Animal Vaccines

7.4.5.1 Overview

7.4.5.2 Other Companion Animal Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

7.5 Others:

7.5.1 Overview

7.5.2 Others: Veterinary Vaccines Market – Revenue and Forecast to 2028 (US$ Million)

8. MEA Veterinary Vaccines Market Revenue and Forecasts to 2028 – By Technology

8.1 Overview

8.2 MEA Veterinary Vaccines Market Share by Technology - 2021 & 2028 (%)

8.3 Live Attenuated Vaccines

8.3.1 Overview

8.3.2 Live Attenuated Vaccines: Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)

8.4 Inactivated Vaccines

8.4.1 Overview

8.4.2 Inactivated Vaccines: Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)

8.5 Toxoid Vaccines

8.5.1 Overview

8.5.2 Toxoid Vaccines: Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)

8.6 Recombinant Vaccines

8.6.1 Overview

8.6.2 Recombinant Vaccines: Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)

8.7 Others

8.7.1 Overview

8.7.2 Others: Veterinary Vaccines Market Revenue and Forecast to 2028 (US$ Million)

9. MEA Veterinary Vaccines Market Revenue and Forecasts to 2028 – Country Analysis

9.1 MEA: Veterinary Vaccines Market

9.1.1 Overview

9.1.2 MEA: Veterinary Vaccines Market, by Country, 2021 & 2028 (%)

9.1.2.1 Saudi Arabia: Veterinary Vaccines Market - Revenue and Forecast to 2028 (USD Million)

9.1.2.1.1 Saudi Arabia: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

9.1.2.1.2 Saudi Arabia Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

9.1.2.1.2.1 Saudi Arabia Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.1.2.2 Saudi Arabia Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.1.3 Saudi Arabia: Veterinary Vaccines Market, by Technology, 2019–2028 (USD Million)

9.1.2.2 UAE: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

9.1.2.2.1 UAE: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

9.1.2.2.2 UAE Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

9.1.2.2.2.1 UAE Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.2.2.2 UAE Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.2.3 UAE: Veterinary Vaccines Market, by Technology, 2019–2028 (USD Million)

9.1.2.3 South Africa: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

9.1.2.3.1 South Africa: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

9.1.2.3.2 South Africa Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

9.1.2.3.2.1 South Africa Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.3.2.2 South Africa Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.3.3 South Africa: Veterinary Vaccines Market, by Technology, 2019–2028 (USD Million)

9.1.2.4 Rest of MEA: Veterinary Vaccines Market - Revenue and Forecast to 2028 (USD Million)

9.1.2.4.1 Rest of MEA: Veterinary Vaccines Market - Revenue and Forecast to 2028 (USD Million)

9.1.2.4.2 Rest of MEA Veterinary Vaccines Market, by Vaccines Type– Revenue and Forecast to 2028 (USD Million)

9.1.2.4.2.1 Rest of MEA Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.4.2.2 Rest of MEA Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

9.1.2.4.3 Rest of MEA: Veterinary Vaccines Market, by Technology, 2019–2028 (USD Million)

10. Impact of COVID-19 Pandemic on MEA Veterinary Vaccines Market

10.1 MEA: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Overview

11.2 Organic Developments

11.2.1 Overview

11.3 Inorganic Developments

11.3.1 Overview

12. Company Profiles

12.1 Boehringer Ingelheim International GmbH

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Zoetis Inc.

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Merck & Co., Inc.

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Virbac

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 BIOVAC

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 NEOGEN Corporation

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Elanco

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 HIPRA

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Ceva

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Hester Biosciences Limited

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary of Terms


LIST OF TABLES

Table 1. MEA Veterinary Vaccines Market – Revenue, and Forecast to 2028 (US$ Million)

Table 2. Saudi Arabia Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

Table 3. Saudi Arabia Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 4. Saudi Arabia Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 5. Saudi Arabia Veterinary Vaccines Market, by Technology– Revenue and Forecast to 2028 (USD Million)

Table 6. UAE Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

Table 7. UAE Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 8. UAE Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 9. UAE Veterinary Vaccines Market, by Technology– Revenue and Forecast to 2028 (USD Million)

Table 10. South Africa Veterinary Vaccines Market, by Vaccine Type– Revenue and Forecast to 2028 (USD Million)

Table 11. South Africa Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 12. South Africa Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 13. South Africa Veterinary Vaccines Market, by Technology– Revenue and Forecast to 2028 (USD Million)

Table 14. Rest of MEA Veterinary Vaccines Market, by Vaccines Type– Revenue and Forecast to 2028 (USD Million)

Table 15. Rest of MEA Veterinary Vaccines Market, by Livestock Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 16. Rest of MEA Veterinary Vaccines Market, by Companion Vaccines– Revenue and Forecast to 2028 (USD Million)

Table 17. Rest of MEA Veterinary Vaccines Market, by Technology– Revenue and Forecast to 2028 (USD Million)

Table 18. Organic Developments Done by Companies

Table 19. Inorganic Developments Done by Companies

Table 20. Glossary of Terms


LIST OF FIGURES

Figure 1. MEA Veterinary Vaccines Market Segmentation

Figure 2. MEA Veterinary Vaccines Market, By Country

Figure 3. MEA Veterinary Vaccines Market Overview

Figure 4. Livestock Vaccines Segment Held the Largest Share of the Market in 2021

Figure 5. The UAE is Expected to Show Remarkable Growth During the Forecast Period

Figure 6. MEA: PEST Analysis

Figure 7. Experts Opinion

Figure 8. Impact Analysis of Drivers and Restraints Pertaining to MEA Veterinary Vaccines Market

Figure 9. MEA Veterinary Vaccines Market – Forecast and Analysis to 2028

Figure 10. MEA Veterinary Vaccines Market, By Vaccine Type, 2021 & 2028 (%)

Figure 11. MEA Livestock Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 12. MEA Bovine Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 13. MEA Small Ruminant Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 14. MEA Companion Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 15. MEA Feline Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 16. MEA Canine Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 17. MEA Other Companion Animal Vaccines: Veterinary Vaccines Market Revenue and Forecasts to 2028 (US$ Million)

Figure 18. MEA Others: Veterinary Vaccines Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. MEA Veterinary Vaccines Market Share by Technology - 2021 & 2028 (%)

Figure 20. MEA Live Attenuated Vaccines: Veterinary Vaccines Market Revenue and Forecasts To 2028 (US$ Million)

Figure 21. MEA Inactivated Vaccines: Veterinary Vaccines Market Revenue and Forecasts To 2028 (US$ Million)

Figure 22. MEA Toxoid Vaccines: Veterinary Vaccines Market Revenue and Forecasts To 2028 (US$ Million)

Figure 23. MEA Recombinant Vaccines: Veterinary Vaccines Market Revenue and Forecasts To 2028 (US$ Million)

Figure 24. MEA Others: Veterinary Vaccines Market Revenue and Forecasts To 2028 (US$ Million)

Figure 25. MEA: Veterinary Vaccines Market, by Key Country – Revenue (2021) (USD Million)

Figure 26. MEA: Veterinary Vaccines Market, by Country, 2021 & 2028 (%)

Figure 27. Saudi Arabia: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

Figure 28. UAE: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

Figure 29. South Africa: Veterinary Vaccines Market – Revenue and Forecast to 2028 (USD Million)

Figure 30. Rest of MEA: Veterinary Vaccines Market - Revenue and Forecast to 2028 (USD Million)

Figure 31. Impact Of COVID-19 Pandemic in MEA Country Markets


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  1. BIOVAC
  2. Boehringer Ingelheim International GmbH
  3. Ceva
  4. Elanco
  5. Hester Biosciences Limited
  6. HIPRA
  7. Merck & Co., Inc. 
  8. NEOGEN Corporation  
  9. Virbac  
  10. Zoetis Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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:

Research Methodology

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.

  1. 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.

  1. 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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