North America Cryopreservation Equipment Market to Grow at a CAGR of 10.2% to reach US$ 6,112.6 Mn Million from 2021 to 2028

North America Cryopreservation Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Freezers, Sample Preparation Systems, and Accessories); Cryogen Type (Liquid Nitrogen, Oxygen, Liquid Helium, Argon, and Others); Application (Cord Blood Stem Cells, Sperms, Semen, & Testicular Tissues, Embryos & Oocytes, Cell and Gene Therapies, and Others); End User (Stem Cell Banks, Biotechnology & Pharmaceutical Organizations, Stem Cell Research Laboratories, and Others)

  • Report Code : TIPRE00023963
  • Category : Life Sciences
  • Status : Published
  • No. of Pages : 157
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The cryopreservation equipment market in North America is expected to grow from US$ 3,096.0 million in 2021 to US$ 6,112.6 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028.

Cryopreservation plays an important part in the field of regenerative medicine as it facilitates stable and secure storage of cells and other related components for a prolonged time. Regenerative medicine enables replacing diseased or damaged cells, tissues, and organs by retrieving their normal function through stem cell therapy. Owing to the advancements in the medical technology, stem cell therapy is now being considered as an alternative to traditional drug therapies in the treatment of a wide range of chronic diseases, including diabetes and neurodegenerative diseases. Moreover, the US Food and Drug Administration (FDA) has approved blood-forming stem cells. The blood-forming stem cells are also known as hematopoietic progenitor cells that are derived from umbilical cord blood. The growing approvals for stem cell and gene therapies are eventually leading to the high demand for cryopreservation equipment.

North America has been witnessing a growing number of COVID-19 cases since its outbreak. The market is expected to grow at steady rate, owing to the precaution that are taken during by the manufacturers of cryopreservation equipment and thus due to COVID-19, this market is not likely to hinder. For researchers such as histopathologists who deal with morbid tissue samples, inactivation of the coronavirus has proved one of the greatest challenges of the present day. However, in certain cases vitrification of egg and embryos was an important freezing technique to tailor the most appropriate transfers in assisted reproduction. Cryopreservation techniques were used at significant rates during the pandemic in stem cell laboratories. Thus, the evident use of cryopreservation equipment led to a considerate growth in the market during the pandemic.

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 cryopreservation equipment market. The North America Cryopreservation equipment market is expected to grow at a good CAGR during the forecast period.

North America Cryopreservation equipment market

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North America Cryopreservation Equipment Market Segmentation     

By Type

  • Freezers
  • Sample Preparation Systems
  • Accessories
    • Freezer Boxes
    • Freezer Racks
    • Cryopreservation Vials
    • Others

By Cryogen Type

  • Liquid Nitrogen
  • Oxygen
  • Liquid Helium
  • Argon
  • Others

By Application

  • Cord Blood Stem Cells
  • Sperms Semen and Testicular Tissues
  • Embryos and Oocytes
  • Cell and Gene Therapies
  • Others

By End User

  • Stem Cell Banks
  • Biotechnology and Pharmaceutical Organizations
  • Stem Cell Research Laboratories
  • Others

By Country

  • North America
    • US
    • Canada
    • Mexico

Companies Mentioned

  1. Thermo Fisher Scientific Inc.                  
  2. Gold Sim Cellular Science Llc                
  3. Brooks Automation, Inc    
  4. Avantor, Inc.         
  5. Hamilton Company            
  6. PHC Holdings Corporation               
  7. General Electric Company               
  8. Cryoport Systems, LLC.     
  9. Antech Group Inc.               
  10. Cryofab    
  11. BioLife Solutions                  
  12. ZhongkeMeiling Cryogenics Company Limited
Report Coverage
Report Coverage

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

Segment Covered
Segment Covered

Type, Cryogen Type, Application, End User

Regional Scope
Regional Scope

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

Country Scope
Country Scope

US, Canada

TABLE OF CONTENTS

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Cryopreservation Equipment Market – By Type

1.3.2 Cryopreservation Equipment Market – By Cryogen Type

1.3.3 Cryopreservation Equipment Market – By Application

1.3.4 Cryopreservation Equipment Market – By End User

1.3.5 North America Cryopreservation Equipment Market – By Country

2. North America Cryopreservation Equipment Market – Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. North America Cryopreservation Equipment Market – Market Landscape

4.1 Overview

4.2 PEST Analysis

4.2.1 Cryopreservation Equipment Market- North America PEST Analysis

4.3 Expert Opinion

5. North America Cryopreservation Equipment Market - Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Acceptance for Regenerative Medicine

5.1.2 Increasing Needs of Biobanking Practices

5.2 Market Restraints

5.2.1 Stringent Regulatory Requirements

5.3 Market Opportunities

5.3.1 Importance of Cryopreservation for Success of Cell-Based Therapies

5.4 Future Trends

5.4.1 3D Printing to Provide Customizable Probes for Sensing and Monitoring in Cryobiology Applications

5.5 Impact Analysis

6. Cryopreservation Equipment Market – North America Analysis

6.1 North America Cryopreservation Equipment Market Revenue Forecasts and Analysis

7. North America Cryopreservation Equipment Market Analysis and Forecasts To 2028 – By Type

7.1 Overview

7.2 Cryopreservation Equipment Market Revenue Share, by Type (2021 and 2028)

7.3 Freezers

7.3.1 Overview

7.3.2 Freezers: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Sample Preparation Systems

7.4.1 Overview

7.4.2 Sample Preparation Systems: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Accessories

7.5.1 Overview

7.5.2 Accessories: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.5.3 Freezer Boxes

7.5.3.1 Overview

7.5.3.2 Freezer Boxes: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.5.4 Freezer Racks

7.5.4.1 Overview

7.5.4.2 Freezer Racks: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.5.5 Cryopreservation Vials

7.5.5.1 Overview

7.5.5.2 Cryopreservation Vials: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

7.5.6 Others

7.5.6.1 Overview

7.5.6.2 Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

8. North America Cryopreservation Equipment Market Analysis and Forecasts To 2028 – By Cryogen Type

8.1 Overview

8.2 Cryopreservation Equipment Market, by Cryogen Type 2021 & 2028 (%)

8.3 Liquid Nitrogen

8.3.1 Overview

8.3.2 Liquid Nitrogen: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Oxygen

8.4.1 Overview

8.4.2 Oxygen: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Liquid Helium

8.5.1 Overview

8.5.2 Liquid Helium: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Argon

8.6.1 Overview

8.6.2 Argon: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

8.7 Others

8.7.1 Overview

8.7.2 Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

9. North America Cryopreservation Equipment Market Analysis and Forecasts To 2028 – By Application

9.1 Overview

9.2 Cryopreservation Equipment Market Revenue Share, by Application (2021 and 2028)

9.3 Cord Blood Stem Cells

9.3.1 Overview

9.3.2 Cord Blood Stem Cells: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Sperms, Semen and Testicular Tissues

9.4.1 Overview

9.4.2 Sperms Semen and Testicular Tissues: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Embryos and Oocytes

9.5.1 Overview

9.5.2 Embryos and Oocytes: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

9.6 Cell and Gene Therapies

9.6.1 Overview

9.6.2 Cell and Gene Therapies: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

9.7 Others

9.7.1 Overview

9.7.2 Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

10. North America Cryopreservation Equipment Market Analysis and Forecasts to 2028– By End User

10.1 Overview

10.2 Cryopreservation Equipment Market Revenue Share, by End User (2021 and 2028)

10.3 Stem Cell Banks

10.3.1 Overview

10.3.2 Stem Cell Banks: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

10.4 Biotechnology and Pharmaceutical Organizations

10.4.1 Overview

10.4.2 Biotechnology and Pharmaceutical Organizations: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

10.5 Stem Cell Research Laboratories

10.5.1 Overview

10.5.2 Stem Cell Research Laboratories: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

10.6 Others

10.6.1 Overview

10.6.2 Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

11. Cryopreservation Equipment Market Revenue and Forecasts to 2028 – Geographical Analysis

11.1 North America: Cryopreservation Equipment Market

11.1.1 Overview

11.1.2 North America: Cryopreservation Equipment Market, by Country, 2021 & 2028 (%)

11.1.2.1 US: Cryopreservation Equipment Market– Revenue and Forecast to 2028 (USD Million)

11.1.2.1.1 US: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.1.2 US: Cryopreservation Equipment Market, by Type, 2019–2028 (USD Million)

11.1.2.1.2.1 US: Cryopreservation Equipment Market, by Accessories, 2019–2028 (USD Million)

11.1.2.1.3 US: Cryopreservation Equipment Market, by Cryogen Type, 2019–2028 (USD Million)

11.1.2.1.4 US: Cryopreservation Equipment Market, by Application, 2019–2028 (USD Million)

11.1.2.1.5 US: Cryopreservation Equipment Market, by End User, 2019–2028 (USD Million)

11.1.2.2 Canada: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.2.1 Canada: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.2.2 Canada: Cryopreservation Equipment Market, by Type, 2019–2028 (USD Million)

11.1.2.2.2.1 Canada: Cryopreservation Equipment Market, by Accessories, 2019–2028 (USD Million)

11.1.2.2.3 Canada: Cryopreservation Equipment Market, by Cryogen Type, 2019–2028 (USD Million)

11.1.2.2.4 Canada: Cryopreservation Equipment Market, by Application, 2019–2028 (USD Million)

11.1.2.2.5 Canada: Cryopreservation Equipment Market, by End User, 2019–2028 (USD Million)

11.1.2.3 Mexico: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.3.1 Mexico: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

11.1.2.3.2 Mexico: Cryopreservation Equipment Market, by Type – 2019–2028 (USD Million)

11.1.2.3.2.1 Mexico: Cryopreservation Equipment Market, by Accessories, 2019–2028 (USD Million)

11.1.2.3.3 Mexico: Cryopreservation Equipment Market, by Cryogen Type – 2019–2028 (USD Million)

11.1.2.3.4 Mexico: Cryopreservation Equipment Market, by Application – 2019–2028 (USD Million)

11.1.2.3.5 Mexico: Cryopreservation Equipment Market, by End User – 2019–2028 (USD Million)

12. Impact Of COVID-19 Pandemic on North America Cryopreservation Equipment Market

12.1 North America: Impact Assessment of COVID-19 Pandemic

13. Industry Landscape

13.1 Overview

13.2 Growth Strategies Done by the Companies in the Market, (%)

13.3 Organic Developments

13.3.1 Overview

13.4 Inorganic Developments

13.4.1 Overview

14. Company Profiles

14.1 THERMO FISHER SCIENTIFIC INC.

14.1.1 Key Facts

14.1.2 Business Description

14.1.3 Products and Services

14.1.4 Financial Overview

14.1.5 SWOT Analysis

14.1.6 Key Developments

14.2 GOLD SIM CELLULAR SCIENCE LLC

14.2.1 Key Facts

14.2.2 Business Description

14.2.3 Products and Services

14.2.4 Financial Overview

14.2.5 SWOT Analysis

14.2.6 Key Developments

14.3 Brooks Automation, Inc

14.3.1 Key Facts

14.3.2 Business Description

14.3.3 Products and Services

14.3.4 Financial Overview

14.3.5 SWOT Analysis

14.3.6 Key Developments

14.4 Avantor, Inc.

14.4.1 Key Facts

14.4.2 Business Description

14.4.3 Products and Services

14.4.4 Financial Overview

14.4.5 SWOT Analysis

14.4.6 Key Developments

14.5 Hamilton Company

14.5.1 Key Facts

14.5.2 Business Description

14.5.3 Products and Services

14.5.4 Financial Overview

14.5.5 SWOT Analysis

14.5.6 Key Developments

14.6 PHC Holdings Corporation

14.6.1 Key Facts

14.6.2 Business Description

14.6.3 Products and Services

14.6.4 Financial Overview

14.6.5 SWOT Analysis

14.6.6 Key Developments

14.7 General Electric Company

14.7.1 Key Facts

14.7.2 Business Description

14.7.3 Products and Services

14.7.4 Financial Overview

14.7.5 SWOT Analysis

14.7.6 Key Developments

14.8 Cryoport Systems, LLC.

14.8.1 Key Facts

14.8.2 Business Description

14.8.3 Products and Services

14.8.4 Financial Overview

14.8.5 SWOT Analysis

14.8.6 Key Developments

14.9 Antech Group Inc.

14.9.1 Key Facts

14.9.2 Business Description

14.9.3 Products and Services

14.9.4 Financial Overview

14.9.5 SWOT Analysis

14.9.6 Key Developments

14.10 Cryofab

14.10.1 Key Facts

14.10.2 Business Description

14.10.3 Products and Services

14.10.4 Financial Overview

14.10.5 SWOT Analysis

14.10.6 Key Developments

14.11 BioLife Solutions

14.11.1 Key Facts

14.11.2 Business Description

14.11.3 Products and Services

14.11.4 Financial Overview

14.11.5 SWOT Analysis

14.11.6 Key Developments

14.12 ZhongkeMeiling Cryogenics Company Limited

14.12.1 Key Facts

14.12.2 Business Description

14.12.3 Products and Services

14.12.4 Financial Overview

14.12.5 SWOT Analysis

14.12.6 Key Developments

15. Appendix

15.1 About the Insight Partners

15.2 Glossary of Terms


LIST OF TABLES

Table 1. US Cryopreservation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 2. US Cryopreservation Equipment Market, by Accessories– Revenue and Forecast to 2028 (USD Million)

Table 3. US Cryopreservation Equipment Market, by Cryogen Type – Revenue and Forecast to 2028 (USD Million)

Table 4. US Cryopreservation Equipment Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 5. US: Cryopreservation Equipment Market, by End User – Revenue and Forecast to 2028 (USD Million)

Table 6. Canada Cryopreservation Equipment Market, by Type – Revenue and Forecast to 2028 (USD Million)

Table 7. Canada Cryopreservation Equipment Market, by Accessories– Revenue and Forecast to 2028 (USD Million)

Table 8. Canada Cryopreservation Equipment Market, by Cryogen Type – Revenue and Forecast to 2028 (USD Million)

Table 9. Canada Cryopreservation Equipment Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 10. Canada Cryopreservation Equipment Market, by End User – Revenue and Forecast to 2028 (USD Million)

Table 11. Mexico Cryopreservation Equipment Market, by Type– Revenue and Forecast to 2028 (USD Million)

Table 12. Mexico Cryopreservation Equipment Market, by Accessories– Revenue and Forecast to 2028 (USD Million)

Table 13. Mexico Cryopreservation Equipment Market, by Cryogen Type – Revenue and Forecast to 2028 (USD Million)

Table 14. Mexico Cryopreservation Equipment Market, by Application – Revenue and Forecast to 2028 (USD Million)

Table 15. Mexico Cryopreservation Equipment Market, by End User – Revenue and Forecast to 2028 (USD Million)

Table 16. Organic Developments Done by Companies

Table 17. Inorganic Developments Done by Companies

Table 18. Glossary of Terms, Cryopreservation Equipment Market

LIST OF FIGURES

Figure 1. Cryopreservation Equipment Market Segmentation

Figure 2. North America Cryopreservation Equipment Market Overview

Figure 3. Freezers Segment Held Largest Share of Type in Cryopreservation Equipment Market

Figure 4. US is Expected to Show Remarkable Growth During the Forecast Period

Figure 5. Cryopreservation Equipment Market - North America PEST Analysis

Figure 6. Cryopreservation Equipment Market Impact Analysis of Driver and Restraints

Figure 7. North America Cryopreservation Equipment Market – Revenue Forecasts and Analysis – 2020- 2028

Figure 8. Cryopreservation Equipment Market Revenue Share, by Type (2021 and 2028)

Figure 9. Freezers: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10. Sample Preparation Systems: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11. Accessories: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12. Freezer Boxes: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13. Freezer Racks: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14. Cryopreservation Vials: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15. Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16. Cryopreservation Equipment Market, by Cryogen Type 2021 & 2028 (%)

Figure 17. Liquid Nitrogen: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18. Oxygen: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19. Liquid Helium: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20. Argon: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21. Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22. Cryopreservation Equipment Market Revenue Share, by Application (2021 and 2028)

Figure 23. Cord Blood Stem Cells: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24. Sperms Semen and Testicular Tissues: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25. Embryos and Oocytes: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26. Cell and Gene Therapies: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27. Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. Cryopreservation Equipment Market Revenue Share, by End User (2021 and 2028)

Figure 29. Stem Cell Banks: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30. Biotechnology and Pharmaceutical Organizations: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31. Stem Cell Research Laboratories: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32. Others: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33. North America: Cryopreservation Equipment Market, by Key Country – Revenue (2021) (USD Million)

Figure 34. North America: Cryopreservation Equipment Market, by Country, 2021 & 2028 (%)

Figure 35. US: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

Figure 36. Canada: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

Figure 37. Mexico: Cryopreservation Equipment Market – Revenue and Forecast to 2028 (USD Million)

Figure 38. Impact of COVID-19 Pandemic in North American Country Markets

Figure 39. Growth Strategies Done by the Companies in the Market, (%)


  1. Thermo Fisher Scientific Inc.                  
  2. Gold Sim Cellular Science Llc                
  3. Brooks Automation, Inc    
  4. Avantor, Inc.         
  5. Hamilton Company            
  6. PHC Holdings Corporation               
  7. General Electric Company               
  8. Cryoport Systems, LLC.     
  9. Antech Group Inc.               
  10. Cryofab    
  11. BioLife Solutions                  
  12. ZhongkeMeiling Cryogenics Company Limited

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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