Bio Composites Market By Material Type, Product, And Application- Global Industry Analysis And Forecast To 2023
Published On : June 2022 Pages : 110 Category: Advanced Materials Report Code : CM06828
Industry Outlook & Trend Analysis.
The Bio composites Market is expected to value at USD 42.60 billion by the year 2023 while registering itself at CAGR of 14.31%. The Current Value of the market is USD 12.78 billion. Bio composites are made from natural fibers and resin. The interest in Bio Composites is growing rapidly in the industrial applications such as aerospace, automobile, military, etc. giving rise to market growth. These composites are bio degradable, cheap and in some cases it can be completely recyclable. It has lower density and higher tensile-strength accompanied by lower manufacturing cost. It also finds application in medical industry in total hip replacement, prosthetics, bone plate, etc.
Material Outlook & Trend Analysis
Depending on the Material the market is segregated into Wood, Flax, hemp, Coir, Kenaf, Polyethylene, Polyvinyl Chloride, and Polypropylene. The wood segment accounted to the highest growth amongst the given segment owing to its easy availability and excellent binding properties. The flax segment is expected to grow lucratively over the forecast period. Further based on product type the Bio Composites are divided into Wood Plastics Composites (WPC) and Natural Fiber Composites (NFC).
Product Outlook & Trend Analysis.
Further based on product type the Bio Composites are divided into Wood Plastics Composites (WPC) and Natural Fiber Composites (NFC). In WPC wood is combined with polyvinyl chloride, polypropylene, polyethylene and others. While the natural fibers are made up of hemp, coir, wood, kenaf, etc.
Application Outlook & Trend Analysis
The Application based segment is split into Automotive, Construction, Electronics & Electricals, Furniture, and Consumer goods. The construction segment dominates the market by occupying the largest share. The automotive industry is the fastest growing in this segment and will continue to grow lucratively during the forecast. Bio Composites are used in automotive industry due to their strength, lightweight, impact resistance properties.
Regional Outlook & Trend Analysis
According to the region, the Bio composites market is segmented as North America, Asia-Pacific, Europe and Rest of World. Asia-Pacific is foreseen to grow at the fastest rate amongst all due to rising demand for bio composites from the construction and automotive industry in the region. In major countries of APAC region governments have imposed stringent regulations regarding use of biodegradable materials will further boost the growth of market.
Competitive Insights
The leading players in market are Trex Company, Inc.,Green Bay Decking, Universal Forest Products, Inc. Fiberon LLC, FlexForm Technologies, Tecnaro GmbH, Meshlin Composites ZRT, UPM, Jelu-Werk J. Ehrler GmbH & Co. KG, Newtechwood, Fiberon, LLC, and Meshlin Composites ZRT. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Bio Composites Market is segmented as follows-
By Material:
- Wood
- Flax
- Hemp
- Coir
- Kenaf
- Polyethylene
- Polyvinyl Chloride
- Polypropylene
By Product:
- Wood Plastics Composites (WPC)
- Natural Fiber Composites (NFC)
By Application:
- Automotive
- Construction
- Electronics & Electricals
- Furniture
- Consumer goods
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Columbia
- South Africa
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Nigeria
- South Africa
- Rest of MEA
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2023?
- What will be the industry market growth from 2017 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
· Bio Composites Market, By Material, Estimates and Forecast, 2014-2023 ($Million)
o Wood
o Flax
o Hemp
o Coir
o Kenaf
o Polyethylene
o Polyvinyl Chloride
o Polypropylene
· Bio Composites Market, By Product, Estimates and Forecast, 2014-2023 ($Million)
o Wood Plastics Composites (WPC)
o Natural Fiber Composites (NFC)
· Bio Composites Market, By Application, Estimates and Forecast, 2014-2023 ($Million)
o Automotive
o Construction
o Electronics & Electricals
o Furniture
o Consumer goods
· Bio Composites Market, By Region, Estimates and Forecast, 2014-2023 ($Million)
o North America
§ North America Bio Composites Market, By Country
o U.S. Bio Composites Market
o Canada Bio Composites Market
o Mexico Bio Composites Market
o Europe
§ Europe Bio Composites Market, By Country
o Germany Bio Composites Market
o UK Bio Composites Market
o France Bio Composites Market
o Russia Bio Composites Market
o Italy Bio Composites Market
o Rest of Europe Bio Composites Market
o Asia-Pacific
§ Asia-Pacific Bio Composites Market, By Country
o China Bio Composites Market
o Japan Bio Composites Market
o South Korea Bio Composites Market
o India Bio Composites Market
o Southeast Asia Bio Composites Market
o Rest of Asia-Pacific Bio Composites Market
o South America
§ South America Bio Composites Market
o Brazil Bio Composites Market
o Argentina Bio Composites Market
o Columbia Bio Composites Market
o South Africa Bio Composites Market
o Rest of South America Bio Composites Market
o Middle East and Africa
§ Middle East and Africa Bio Composites Market
o Saudi Arabia Bio Composites Market
o UAE Bio Composites Market
o Egypt Bio Composites Market
o Nigeria Bio Composites Market
o South Africa Bio Composites Market
o Rest of MEA Bio Composites Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Stringent Regulations Imposed by Government for the Use of Eco-Friendly Vehicles.
3.2.1.2. Safer as Compared to Glass Fibers.
3.2.1.3. Recyclable Material
3.2.2. Restraints
3.2.2.1. Comparatively Low Strength to Glass Fiber.
3.2.2.2. Fluctuating Costs, Availability, etc.
3.2.3. Opportunities
3.2.3.1. Possibility of Cost Reduction.
3.2.3.2. Increasing Usage in Automotive Sector.
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2017-2023)
4.1.2. Canada Market States and Outlook (2017-2023)
4.1.3. Mexico Market States and Outlook (2017-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2017-2023)
4.2.2. France Market States and Outlook (2017-2023)
4.2.3. UK Market States and Outlook (2017-2023)
4.2.4. Russia Market States and Outlook (2017-2023)
4.2.5. Italy Market States and Outlook (2017-2023)
4.2.6. Rest of Europe Market States and Outlook (2017-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2017-2023)
4.3.2. Japan Market States and Outlook (2017-2023)
4.3.3. Korea Market States and Outlook (2017-2023)
4.3.4. India Market States and Outlook (2017-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2017-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2017-2023)
4.4.2. Argentina Market States and Outlook (2017-2023)
4.4.3. Columbia Market States and Outlook (2017-2023)
4.4.4. Rest of South America Market States and Outlook (2017-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2017-2023)
4.5.2. UAE Market States and Outlook (2017-2023)
4.5.3. Egypt Market States and Outlook (2017-2023)
4.5.4. Nigeria Market States and Outlook (2017-2023)
4.5.5. South Africa Market States and Outlook (2017-2023)
4.5.6. Rest of MEA Market States and Outlook (2017-2023)
5. Bio Composites Market, By Material
5.1. Introduction
5.2. Global Bio Composites Sales, Revenue and Market Share By Material (2017-2027)
5.2.1. Global Bio Composites Sales and Sales Share By Material (2017-2027)
5.2.2. Global Bio Composites Revenue and Revenue Share By Material (2017-2027)
5.3. Wood
5.3.1. Global Wood Sales and Growth Rate (2017-2027)
5.4. Flax
5.4.1. Global Flax Sales and Growth Rate (2017-2027)
5.5. Hemp
5.5.1. Global Flax Sales and Growth Rate (2017-2027)
5.6. Coir
5.6.1. Global Coir Sales and Growth Rate (2017-2027)
5.7. Kenaf
5.7.1. Global Kenaf Sales and Growth Rate (2017-2027)
5.8. Polyethylene
5.8.1. Global Polyethylene Sales and Growth Rate (2017-2027)
5.9. Polyvinyl
5.9.1. Global Polyvinyl Sales and Growth Rate (2017-2027)
5.10. Chloride
5.10.1. Global Chloride Sales and Growth Rate (2017-2027)
5.11. Polypropylene
5.11.1. Global Polypropylene Sales and Growth Rate (2017-2027)
6. Bio Composites Market, By Product
6.1. Introduction
6.2. Global Bio Composites Sales, Revenue and Market Share by Product (2017-2027)
6.2.1. Global Bio Composites Sales and Sales Share by Product (2017-2027)
6.2.2. Global Bio Composites Revenue and Revenue Share by Product (2017-2027)
6.3. Wood Plastics Composites (WPC)
6.3.1. Global Wood Plastics Composites (WPC) Sales and Growth Rate (2017-2027)
6.4. Natural Fiber Composites (NFC)
6.4.1. Global Natural Fiber Composites (NFC) Sales and Growth Rate (2017-2027)
7. Bio Composites Market, By Application
7.1. Introduction
7.2. Global Bio Composites Sales, Revenue and Market Share By Application (2017-2027)
7.2.1. Global Bio Composites Sales and Sales Share By Application (2017-2027)
7.2.2. Global Bio Composites Revenue and Revenue Share By Application (2017-2027)
7.3. Automotive
7.3.1. Global Automotive Sales and Growth Rate (2017-2027)
7.4. Construction
7.4.1. Global Construction Sales and Growth Rate (2017-2027)
7.5. Electronics & Electricals
7.5.1. Global Electronics & Electricals Sales and Growth Rate (2017-2027)
7.6. Furniture
7.6.1. Global Furniture Sales and Growth Rate (2017-2027)
7.7. Consumer goods
7.7.1. Global Consumer goods Sales and Growth Rate (2017-2027)
8. Bio Composites Market, By Region
8.1. Introduction
8.2. Global Bio Composites Sales, Revenue and Market Share by Regions
8.2.1. Global Bio Composites Sales by Regions (2017-2027)
8.2.2. Global Bio Composites Revenue by Regions (2017-2027)
8.3. North America Bio Composites by Countries
8.3.1. North America Bio Composites Sales and Growth Rate (2017-2027)
8.3.2. North America Bio Composites Revenue and Growth Rate (2017-2027)
8.3.3. North America Bio Composites Sales by Countries (2017-2027)
8.3.4. North America Bio Composites Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States Bio Composites Sales and Growth Rate (2017-2027)
8.3.5.2. United States Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada Bio Composites Sales and Growth Rate (2017-2027)
8.3.6.2. Canada Bio Composites Sales (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico Bio Composites Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Bio Composites by Countries
8.4.1. Europe Bio Composites Sales and Growth Rate (2017-2027)
8.4.2. Europe Bio Composites Revenue and Growth Rate (2017-2027)
8.4.3. Europe Bio Composites Sales by Countries (2017-2027)
8.4.4. Europe Bio Composites Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany Bio Composites Sales and Growth Rate (2017-2027)
8.4.5.2. Germany Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK Bio Composites Sales and Growth Rate (2017-2027)
8.4.6.2. UK Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France Bio Composites Sales and Growth Rate (2017-2027)
8.4.7.2. France Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia Bio Composites Sales and Growth Rate (2017-2027)
8.4.8.2. Russia Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy Bio Composites Sales and Growth Rate (2017-2027)
8.4.9.2. Italy Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Bio Composites Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Bio Composites Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Bio Composites Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific Bio Composites Sales by Countries (2017-2027)
8.5.4. Asia-Pacific Bio Composites Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China Bio Composites Sales and Growth Rate (2017-2027)
8.5.5.2. China Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan Bio Composites Sales and Growth Rate (2017-2027)
8.5.6.2. Japan Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.7. Korea
8.5.7.1. Korea Bio Composites Sales and Growth Rate (2017-2027)
8.5.7.2. Korea Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India Bio Composites Sales and Growth Rate (2017-2027)
8.5.8.2. India Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Bio Composites Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Bio Composites Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Bio Composites Sales and Growth Rate (2017-2027)
8.6.2. South America Bio Composites Revenue and Growth Rate (2017-2027)
8.6.3. South America Bio Composites Sales by Countries (2017-2027)
8.6.4. South America Bio Composites Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil Bio Composites Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina Bio Composites Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia Bio Composites Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Bio Composites Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Bio Composites Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Bio Composites Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa Bio Composites Sales by Countries (2017-2027)
8.7.4. Middle East and Africa Bio Composites Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Bio Composites Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Bio Composites Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt Bio Composites Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Bio Composites Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa Bio Composites Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.10. Rest of Middle East and Africa
8.7.10.1. Rest of Middle East and Africa Bio Composites Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa Bio Composites Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. Trex Company
9.1.1. Business Overview
9.1.2. Product Portfolio
9.1.3. Strategic Developments
9.1.4. Sales, Revenue and Market Share
9.2. Green Bay Decking
9.2.1. Business Overview
9.2.2. Product Portfolio
9.2.3. Strategic Developments
9.2.4. Sales, Revenue and Market Share
9.3. Universal Forest Products
9.3.1. Business Overview
9.3.2. Product Portfolio
9.3.3. Strategic Developments
9.3.4. Sales, Revenue and Market Share
9.4. Fiberon LLC
9.4.1. Business Overview
9.4.2. Product Portfolio
9.4.3. Strategic Developments
9.4.4. Sales, Revenue and Market Share
9.5. FlexForm Technologies
9.5.1. Business Overview
9.5.2. Product Portfolio
9.5.3. Strategic Developments
9.5.4. Sales, Revenue and Market Share
9.6. Tecnaro GmbH
9.6.1. Business Overview
9.6.2. Product Portfolio
9.6.3. Strategic Developments
9.6.4. Sales, Revenue and Market Share
9.7. UPM
9.7.1. Business Overview
9.7.2. Product Portfolio
9.7.3. Strategic Developments
9.7.4. Sales, Revenue and Market Share
9.8. Jelu-Werk J. Ehrler GmbH & Co. KG
9.8.1. Business Overview
9.8.2. Product Portfolio
9.8.3. Strategic Developments
9.8.4. Sales, Revenue and Market Share
9.9. Newtechwood
9.9.1. Business Overview
9.9.2. Product Portfolio
9.9.3. Strategic Developments
9.9.4. Sales, Revenue and Market Share
9.10. Meshlin Composites ZRT
9.10.1. Business Overview
9.10.2. Product Portfolio
9.10.3. Strategic Developments
9.10.4. Sales, Revenue and Market Share
10. Global Bio Composites Market Competition, by Manufacturer
10.1. Global Bio Composites Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Bio Composites Revenue and Market Share by Manufacturer (2017-2017)
10.3. Global Bio Composites Price by Manufacturer (2017-2017)
10.4. Top 5 Bio Composites Manufacturer Market Share
10.5. Market Competition Trend
11. Bio Composites Market Forecast (2027-2023)
11.1. Global Bio Composites Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Bio Composites Market Forecast by Regions (2027-2023)
11.2.1. North America Bio Composites Market Forecast (2027-2023)
11.2.1.1. United States Bio Composites Market Forecast (2027-2023)
11.2.1.2. Canada Bio Composites Market Forecast (2027-2023)
11.2.1.3. Mexico Bio Composites Market Forecast (2027-2023)
11.2.2. Europe Bio Composites Market Forecast (2027-2023)
11.2.2.1. Germany Bio Composites Market Forecast (2027-2023)
11.2.2.2. United Kingdom Bio Composites Market Forecast (2027-2023)
11.2.2.3. France Bio Composites Market Forecast (2027-2023)
11.2.2.4. Russia Bio Composites Market Forecast (2027-2023)
11.2.2.5. Italy Bio Composites Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Bio Composites Market Forecast (2027-2023)
11.2.3. Asia-Pacific Bio Composites Market Forecast (2027-2023)
11.2.3.1. China Bio Composites Market Forecast (2027-2023)
11.2.3.2. Japan Bio Composites Market Forecast (2027-2023)
11.2.3.3. Korea Bio Composites Market Forecast (2027-2023)
11.2.3.4. India Bio Composites Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Bio Composites Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Bio Composites Market Forecast (2027-2023)
11.2.4. South America Bio Composites Market Forecast (2027-2023)
11.2.4.1. Brazil Bio Composites Market Forecast (2027-2023)
11.2.4.2. Argentina Bio Composites Market Forecast (2027-2023)
11.2.4.3. Columbia Bio Composites Market Forecast (2027-2023)
11.2.4.4. Rest of South America Bio Composites Market Forecast (2027-2023)
11.2.5. Middle East and Africa Bio Composites Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Bio Composites Market Forecast (2027-2023)
11.2.5.2. UAE Bio Composites Market Forecast (2027-2023)
11.2.5.3. Egypt Bio Composites Market Forecast (2027-2023)
11.2.5.4. Nigeria Bio Composites Market Forecast (2027-2023)
11.2.5.5. South Africa Bio Composites Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Bio Composites Market Forecast (2027-2023)
11.3. Bio Composites Market Forecast by Product (2027-2023)
11.3.1. Global Bio Composites Sales Forecast by Product(2027-2023)
11.3.2. Global Bio Composites Sales Market Share Forecast by Product (2027-2023)
11.4. Bio Composites Market Forecast By Material (2027-2023)
11.4.1. Global Bio Composites Sales Forecast By Material (2027-2023)
11.4.2. Global Bio Composites Sales Market Share Forecast By Material (2027-2023)
11.5. Bio Composites Market Forecast By Application (2027-2023)
11.5.1. Global Bio Composites Sales Forecast By Application (2027-2023)
11.5.2. Global Bio Composites Sales Market Share Forecast By Application (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Bio Composites Market
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
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Demand Side |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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