Carotenoids Market By Application, Product and Source- Global Industry Analysis and Forecast to 2023
Published On : April 2018 Pages : 100 Category: Advanced Materials Report Code : CM04692
Industry Outlook and Trend Analysis
The Carotenoids Market was worth USD 1.15 billion in 2017 and is expected to reach approximately USD 1.59 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 3.69% during the forecast period. The development is by virtue of its rising use in different applications including animal feed, pharmaceuticals, dietary supplements, food, and cosmetics. Expanding demand for natural and healthy food alongside supplement usage because of rising medical problems is probably going to goad development. Carotenoids are natural pigments that are found in different plants and life forms. These products are useful as antioxidants and ensure the body against chronic ailments, cell damage, and the impacts of aging.
Product Outlook and Trend Analysis
Beta-carotenes ruled the general business and represented 24% of the worldwide volume share in 2017. Beta-carotenes are used as a colorant, antioxidant, and go about as a rich source of vitamin A in feed, food, dietary supplements, medicines, and cosmetics, which thusly, will empower market measure. Astaxanthin is anticipated to witness significant development over the gauge time frame inferable from its expanding use in creature encourage human antioxidants, animal feed ingredients, and for the colouring of trout, shrimps, and salmon.
Source Outlook and Trend Analysis
Synthetic sources ruled the general business esteemed at USD 903.6 million in 2017. The fragment is anticipated to witness moderate development over the figure time frame by virtue of developing customer inclination for normally sourced products. Natural sources are anticipated to witness substantial volume and income development over the gauge time frame. Regular sources incorporate plant leaves, fruits, flowers, fish flesh, crustacean shells, and bird feathers. Developing customer awareness in regards to medical advantages and the points of interest related with common products is foreseen to fuel industry request over the conjecture time frame.
Application Outlook and Trend Analysis
Animal feed was the conspicuous portion and represented 41% of the general income share in 2017. Animals need carotenoids as their bodies can't deliver these fundamental supplements; thusly, these supplements are added to animal feed as they give invulnerability against ailments, which thus, will drive development over the figure time frame.
Regional Outlook and Trend Analysis
Asia Pacific is anticipated to reflect high picks up by virtue of developing usage of these added substances in food, feed, cosmetic, supplement, and pharmaceutical applications. The business is foreseen to be driven by innovative progressions, modern development, monetary development, and low expenses of production in nations, for example, India, China, and Japan.
Competitive Insights
The leading players in the market are ExcelVite Sdn. Bhd, Allied Biotechnology India Pvt Ltd, DDW The Color House, Naturex, Cyanotech Corporation, DSM, BASF, Brenntag, Chr. Hansen and Kemin Industries. 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 Carotenoids Market is segmented as follows-
By Source:
- Synthetic
- Natural
By Product:
- Beta-carotene
- Lycopene
- Zeaxanthin
- Lutein
- Astaxanthin
- Canthaxanthin
- Others
By Application:
- Supplements
- Pharmaceuticals
- Food
- Feed
- Cosmetics
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
· Carotenoids Market, By Application, Estimates and Forecast, 2014-2023($Billion)
o Food
o Supplements
o Feed
o Pharmaceuticals
o Cosmetics
· Carotenoids Market, By Product, Estimates and Forecast, 2014-2023($Billion)
o Beta-carotene
o Lutein
o Lycopene
o Astaxanthin
o Zeaxanthin
o Canthaxanthin
o Other Products
· Carotenoids Market, By Source, Estimates and Forecast, 2014-2023($Billion)
o Natural
o Synthetic
· Carotenoids Market, By Region, Estimates and Forecast, 2014-2023($Billion)
o North America
§ North America Carotenoids Market, By Country
o U.S. Carotenoids Market
o Canada Carotenoids Market
o Mexico Carotenoids Market
o Europe
§ Europe Carotenoids Market, By Country
o Germany Carotenoids Market
o UK Carotenoids Market
o France Carotenoids Market
o Russia Carotenoids Market
o Italy Carotenoids Market
o Rest of Europe Carotenoids Market
o Asia-Pacific
§ Asia-Pacific Carotenoids Market, By Country
o China Carotenoids Market
o Japan Carotenoids Market
o South Korea Carotenoids Market
o India Carotenoids Market
o Southeast Asia Carotenoids Market
o Rest of Asia-Pacific Carotenoids Market
o South America
§ South America Carotenoids Market
o Brazil Carotenoids Market
o Argentina Carotenoids Market
o Columbia Carotenoids Market
o South Africa Carotenoids Market
o Rest of South America Carotenoids Market
o Middle East and Africa
§ Middle East and Africa Carotenoids Market
o Saudi Arabia Carotenoids Market
o UAE Carotenoids Market
o Egypt Carotenoids Market
o Nigeria Carotenoids Market
o South Africa Carotenoids Market
o Rest of MEA Carotenoids 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
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth Opportunities
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. Carotenoids Market, By Application
5.1. Introduction
5.2. Global Carotenoids Sales, Revenue and Market Share by Application (2017-2017)
5.2.1. Global Carotenoids Sales and Sales Share by Application (2017-2017)
5.2.2. Global Carotenoids Revenue and Revenue Share by Application (2017-2017)
5.3. Carotenoids Market Assessment and Forecast, By Application, 2017-2023
5.4. Food
5.4.1. Global Cosmetics Sales and Growth Rate (2017-2027)
5.5. Supplements
5.5.1. Global Cosmetics Sales and Growth Rate (2017-2027)
5.6. Feed
5.6.1. Global Cosmetics Sales and Growth Rate (2017-2027)
5.7. Pharmaceuticals
5.7.1. Global Cosmetics Sales and Growth Rate (2017-2027)
5.8. Cosmetics
5.8.1. Global Cosmetics Sales and Growth Rate (2017-2027)
6. Carotenoids Market, By Product
6.1. Introduction
6.2. Global Carotenoids Sales, Revenue and Market Share by Product (2017-2017)
6.2.1. Global Carotenoids Sales and Sales Share by Product (2017-2017)
6.2.2. Global Carotenoids Revenue and Revenue Share by Product (2017-2017)
6.3. Carotenoids Market Assessment and Forecast, By Product, 2017-2023
6.4. Beta-carotene
6.4.1. Global Beta-carotene Sales and Growth Rate (2017-2027)
6.5. Lutein
6.5.1. Global Lutein Sales and Growth Rate (2017-2027)
6.6. Lycopene
6.6.1. Global Lycopene Sales and Growth Rate (2017-2027)
6.7. Astaxanthin
6.7.1. Global Astaxanthin Sales and Growth Rate (2017-2027)
6.8. Zeaxanthin
6.8.1. Global Zeaxanthin Sales and Growth Rate (2017-2027)
6.9. Canthaxanthin
6.9.1. Global Canthaxanthin Sales and Growth Rate (2017-2027)
6.10. Other Products
6.10.1. Global Other Products Sales and Growth Rate (2017-2027)
7. Carotenoids Market, By Source
7.1. Introduction
7.2. Global Carotenoids Sales, Revenue and Market Share by Source (2017-2017)
7.2.1. Global Carotenoids Sales and Sales Share by Source (2017-2017)
7.2.2. Global Carotenoids Revenue and Revenue Share by Source (2017-2017)
7.3. Carotenoids Market Assessment and Forecast, By Source, 2017-2023($Billion)
7.4. Natural
7.4.1. Global Natural Sales and Growth Rate (2017-2027)
7.5. Synthetic
7.5.1. Global Synthetic Sales and Growth Rate (2017-2027)
8. Carotenoids Market, By Region
8.1. Introduction
8.2. Global Carotenoids Sales, Revenue and Market Share by Regions
8.2.1. Global Carotenoids Sales by Regions (2017-2027)
8.2.2. Global Carotenoids Revenue by Regions (2017-2027)
8.3. North America Carotenoids by Countries
8.3.1. North America Carotenoids Sales and Growth Rate (2017-2027)
8.3.2. North America Carotenoids Revenue and Growth Rate (2017-2027)
8.3.3. North America Carotenoids Sales by Countries (2017-2027)
8.3.4. North America Carotenoids Revenue (Million USD) by Countries (2017-2027)
8.3.5. U.S.
8.3.5.1. United States Carotenoids Sales and Growth Rate (2017-2027)
8.3.5.2. United States Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.3.6. Canada
8.3.6.1. Canada Carotenoids Sales and Growth Rate (2017-2027)
8.3.6.2. Canada Carotenoids Sales (Millions USD) and Growth Rate (2017-2027)
8.3.7. Mexico
8.3.7.1. Mexico Carotenoids Sales and Growth Rate (2017-2027)
8.3.7.2. Mexico Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4. Europe Carotenoids by Countries
8.4.1. Europe Carotenoids Sales and Growth Rate (2017-2027)
8.4.2. Europe Carotenoids Revenue and Growth Rate (2017-2027)
8.4.3. Europe Carotenoids Sales by Countries (2017-2027)
8.4.4. Europe Carotenoids Revenue (Million USD) by Countries (2017-2027)
8.4.5. Germany
8.4.5.1. Germany Carotenoids Sales and Growth Rate (2017-2027)
8.4.5.2. Germany Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.6. UK
8.4.6.1. UK Carotenoids Sales and Growth Rate (2017-2027)
8.4.6.2. UK Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.7. France
8.4.7.1. France Carotenoids Sales and Growth Rate (2017-2027)
8.4.7.2. France Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.8. Russia
8.4.8.1. Russia Carotenoids Sales and Growth Rate (2017-2027)
8.4.8.2. Russia Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.9. Italy
8.4.9.1. Italy Carotenoids Sales and Growth Rate (2017-2027)
8.4.9.2. Italy Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.4.10. Rest of Europe
8.4.10.1. Rest of Europe Carotenoids Sales and Growth Rate (2017-2027)
8.4.10.2. Rest of Europe Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5. Asia-Pacific
8.5.1. Asia-Pacific Carotenoids Sales and Growth Rate (2017-2027)
8.5.2. Asia-Pacific Carotenoids Revenue and Growth Rate (2017-2027)
8.5.3. Asia-Pacific Carotenoids Sales by Countries (2017-2027)
8.5.4. Asia-Pacific Carotenoids Revenue (Million USD) by Countries (2017-2027)
8.5.5. China
8.5.5.1. China Carotenoids Sales and Growth Rate (2017-2027)
8.5.5.2. China Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6. Japan
8.5.6.1. Japan Carotenoids Sales and Growth Rate (2017-2027)
8.5.6.2. Japan Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.6.3.
8.5.7. Korea
8.5.7.1. Korea Carotenoids Sales and Growth Rate (2017-2027)
8.5.7.2. Korea Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.8. India
8.5.8.1. India Carotenoids Sales and Growth Rate (2017-2027)
8.5.8.2. India Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.9. Southeast Asia
8.5.9.1. Southeast Asia Carotenoids Sales and Growth Rate (2017-2027)
8.5.9.2. Southeast Asia Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.5.10. Rest of Asia-Pacific
8.5.10.1. Rest of Asia-Pacific Carotenoids Sales and Growth Rate (2017-2027)
8.5.10.2. Rest of Asia-Pacific Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.6. South America
8.6.1. South America Carotenoids Sales and Growth Rate (2017-2027)
8.6.2. South America Carotenoids Revenue and Growth Rate (2017-2027)
8.6.3. South America Carotenoids Sales by Countries (2017-2027)
8.6.4. South America Carotenoids Revenue (Million USD) by Countries (2017-2027)
8.6.5. Brazil
8.6.5.1. Brazil Carotenoids Sales and Growth Rate (2017-2027)
8.6.5.2. Brazil Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.6. Argentina
8.6.6.1. Argentina Carotenoids Sales and Growth Rate (2017-2027)
8.6.6.2. Argentina Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.7. Columbia
8.6.7.1. Columbia Carotenoids Sales and Growth Rate (2017-2027)
8.6.7.2. Columbia Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.6.8. Rest of South America
8.6.8.1. Rest of South America Carotenoids Sales and Growth Rate (2017-2027)
8.6.8.2. Rest of South America Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.7. Middle East and Africa
8.7.1. Middle East and Africa Carotenoids Sales and Growth Rate (2017-2027)
8.7.2. Middle East and Africa Carotenoids Revenue and Growth Rate (2017-2027)
8.7.3. Middle East and Africa Carotenoids Sales by Countries (2017-2027)
8.7.4. Middle East and Africa Carotenoids Revenue (Million USD) by Countries (2017-2027)
8.7.5. Saudi Arabia
8.7.5.1. Saudi Arabia Carotenoids Sales and Growth Rate (2017-2027)
8.7.5.2. Saudi Arabia Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.6. United Arab Emirates
8.7.6.1. United Arab Emirates Carotenoids Sales and Growth Rate (2017-2027)
8.7.6.2. United Arab Emirates Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.7. Egypt
8.7.7.1. Egypt Carotenoids Sales and Growth Rate (2017-2027)
8.7.7.2. Egypt Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.8. Nigeria
8.7.8.1. Nigeria Carotenoids Sales and Growth Rate (2017-2027)
8.7.8.2. Nigeria Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
8.7.9. South Africa
8.7.9.1. South Africa Carotenoids Sales and Growth Rate (2017-2027)
8.7.9.2. South Africa Carotenoids 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 Carotenoids Sales and Growth Rate (2017-2027)
8.7.10.2. Rest of Middle East and Africa Carotenoids Revenue (Millions USD) and Growth Rate (2017-2027)
9. Company Profiles
9.1. BASF SE
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. Allied Biotech
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. Kemin Industries
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. Brenntag AG
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. ExcelVite Sdn. Bhd.
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. Cyanotech Corp.
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. Chr. Hansen
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. DDW
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. DSM Nutritional Products
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. Divis Laboratories
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 Carotenoids Market Competition, by Manufacturer
10.1. Global Carotenoids Sales and Market Share by Manufacturer (2017-2017)
10.2. Global Carotenoids Revenue and Market Share by Manufacturer (2017-2017)
10.3. Top 5 Carotenoids Manufacturer Market Share
10.4. Market Competition Trend
11. Carotenoids Market Forecast (2027-2023)
11.1. Global Carotenoids Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
11.2. Carotenoids Market Forecast by Regions (2027-2023)
11.2.1. North America Carotenoids Market Forecast (2027-2023)
11.2.1.1. United States Carotenoids Market Forecast (2027-2023)
11.2.1.2. Canada Carotenoids Market Forecast (2027-2023)
11.2.1.3. Mexico Carotenoids Market Forecast (2027-2023)
11.2.2. Europe Carotenoids Market Forecast (2027-2023)
11.2.2.1. Germany Carotenoids Market Forecast (2027-2023)
11.2.2.2. United Kingdom Carotenoids Market Forecast (2027-2023)
11.2.2.3. France Carotenoids Market Forecast (2027-2023)
11.2.2.4. Russia Carotenoids Market Forecast (2027-2023)
11.2.2.5. Italy Carotenoids Market Forecast (2027-2023)
11.2.2.6. Rest of the Europe Carotenoids Market Forecast (2027-2023)
11.2.3. Asia-Pacific Carotenoids Market Forecast (2027-2023)
11.2.3.1. China Carotenoids Market Forecast (2027-2023)
11.2.3.2. Japan Carotenoids Market Forecast (2027-2023)
11.2.3.3. Korea Carotenoids Market Forecast (2027-2023)
11.2.3.4. India Carotenoids Market Forecast (2027-2023)
11.2.3.5. Southeast Asia Carotenoids Market Forecast (2027-2023)
11.2.3.6. Rest of Asia-Pacific Carotenoids Market Forecast (2027-2023)
11.2.4. South America Carotenoids Market Forecast (2027-2023)
11.2.4.1. Brazil Carotenoids Market Forecast (2027-2023)
11.2.4.2. Argentina Carotenoids Market Forecast (2027-2023)
11.2.4.3. Columbia Carotenoids Market Forecast (2027-2023)
11.2.4.4. Rest of South America Carotenoids Market Forecast (2027-2023)
11.2.5. Middle East and Africa Carotenoids Market Forecast (2027-2023)
11.2.5.1. Saudi Arabia Carotenoids Market Forecast (2027-2023)
11.2.5.2. UAE Carotenoids Market Forecast (2027-2023)
11.2.5.3. Egypt Carotenoids Market Forecast (2027-2023)
11.2.5.4. Nigeria Carotenoids Market Forecast (2027-2023)
11.2.5.5. South Africa Carotenoids Market Forecast (2027-2023)
11.2.5.6. Rest of MEA Carotenoids Market Forecast (2027-2023)
11.3. Carotenoids Market Forecast by Application (2027-2023)
11.3.1. Global Carotenoids Sales Forecast by Application (2027-2023)
11.3.2. Global Carotenoids Sales Market Share Forecast by Application (2027-2023)
11.4. Carotenoids Market Forecast by Product (2027-2023)
11.4.1. Global Carotenoids Sales Forecast by Product (2027-2023)
11.4.2. Global Carotenoids Sales Market Share Forecast by Product (2027-2023)
11.5. Carotenoids Market Forecast by Source (2027-2023)
11.5.1. Global Carotenoids Sales Forecast by Source (2027-2023)
11.5.2. Global Carotenoids Sales Market Share Forecast by Source (2027-2023)
List of Tables and Figures
You can glance through the list of Tables and Figures when you view the sample copy of Carotenoids Market.
List of Tables
You can glance through the list of Tables and Figures when you view the sample copy of Carotenoids 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 |
Supply Side |
Demand Side |
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Primary Data Sources |
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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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