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Microcarriers Market Report Scope & Overview:

Microcarriers Market,Revenue Analysis

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The Microcarriers Market size was estimated at USD 1.52 billion in 2023 and is expected to reach USD 4.11 billion by 2032 at a CAGR of 11.7% during the forecast period of 2024-2032.

Microcarriers operate as a support matrix for adherent cell growth. These microcarriers are used in a bioreactor to help in cell proliferation. Pharmaceutical businesses and research institutes are increasingly relying on microcarrier dry powder and related equipment to conduct rigorous R&D operations. The growing global disease burden has increased R&D activity in order to provide therapeutically effective drugs/vaccines, resulting in a demand for microcarrier goods.

MARKET DYNAMICS

DRIVERS

  • Growing interest in cell-based vaccines

Population expansion, climate change, and more human-animal contact have all increased the risk of new viral epidemics. For example, influenza and COVID-19 have shown to be unpredictable and recurring phenomena that impose a large economic and social burden. The WHO reported 117.33 million cases of COVID-19 worldwide as of March 10, 2021, including 2.61 million deaths. The rising prevalence of infectious diseases, as well as the growing threat of pandemics, are predicted to drive global vaccination demand.

RESTRAIN 

  • Cell biology research is expensive

Cell biology entails a significant amount of research and development (R&D) on new medicines such as stem cell and gene therapies. The equipment, media, reagents, and other products associated with research must be of the highest quality to provide accurate results The cost of cell biology research has risen significantly as a result of the growing necessity to maintain high quality standards (by the use of high-grade materials) and comply with regulatory body norms. As a result, with inadequate funding, many academic institutions and small firms are unable to pursue cell biology research. Because microcarriers are used in stem cell biology, this factor is likely to limit market expansion. Moreover, because microcarriers adhere to cells, the cells must be collected, which increases downstream processing costs. As a result, the expansion of the microcarrier market is projected to be limited.

OPPORTUNITY 

The increased popularity of targeted treatment options for diseases such as cancer, autoimmune and inflammatory illnesses is driving up demand for monoclonal antibodies internationally. Because antibodies are given in high concentrations, the need for mAbs is also significant.

CHALLENGES

  • The unavailability of low-cost serum-free media, as well as microcarrier-cell detachment

IMPACT OF RUSSIA-UKRAINE WAR

Although the Russian pharmaceutical industry was not subject to Western sanctions imposed following the invasion of Ukraine, domestic players experienced significant difficulties in importing active ingredients. According to the local analyst firm RNC Pharma, Russian medicine makers rely on imported raw ingredients to the tune of 80%. China and India account for more than two-thirds of all imports. Moreover, while these countries continue to serve the Russian Federation, supply systems in these areas have also failed.

IMPACT OF ONGOING RECESSION

The global pandemic of the new coronavirus (COVID-19) caused tremendous volatility, uncertainty, and economic disruption in several of the nations where we operate, including the United States, Mexico, Canada, Poland, Germany, Hungary, and China. We believe the pandemic impacted customer demand for our products as well as customer preferences regarding product mix and distribution channels, and there is significant uncertainty regarding general economic conditions as we emerge from the pandemic, including rising inflation, supply chain disruptions, and a possible national or global recession.

KEY SEGMENTS

By Consumable

  • Media & Reagents

  • Microcarrier Bead

    • Collagen Coated Beads

    • Cationic Beads

    • Protein Coated Beads

    • Untreated Beads

    • Others

In 2023, microcarrier bead segment is expected to held the highest market share of 65.2% during the forecast period due to the constant development of microcarrier beads during cell culture adds to the market's highest revenue generating. Increased cell biology research, rising demand for regenerative therapies and biopharmaceuticals, and the availability of a variety of microcarrier beads that can be used for a variety of reasons have all contributed to the significant market expansion.

By Application

In 2023, the biopharmaceutical Production segment is expected to dominate the market growth of 73.8% during the forecast period Because of the rising frequency of cancer, infectious diseases, and genetic problems, there is a greater need for safe and effective medicines and therapies. Biopharmaceutical businesses are expanding their capacity and product offerings to satisfy rising demand. For instance, in August 2022, Celltrion Inc., a Korea-based healthcare business, announced that its bevacizumab biosimilar, Vegzelma, has been approved by the European Commission for the treatment of certain forms of cancer. With the approval of its third biosimilar, the business has expanded its oncology treatment range for usage in Europe.

Furthermore, increased therapeutic biopharmaceutical usage and regulatory backing are driving the microcarriers market. For example, the US FDA has authorized 39 biosimilars till September 2022. These approvals have demonstrated that safe and effective biosimilars penetrated market and improved the access to care by offering multiple medication options at potentially lower costs.

By End User

  • Pharmaceutical & Biotechnology Companies

  • Contract Research Organizations & Contract Manufacturing Organizations

  • Academic & Research Institutes

In 2023, the pharmaceutical & biotechnology companies & CROs segment is expected to dominate the market growth of 73.8% during the forecast period to due to multiple drug research initiatives, the rising cell therapy business, greater R&D investments, and favorable government laws are all driving the expansion of this market. Furthermore, increased knowledge of the benefits of cell-based products is pushing biologics manufacturing by these enterprises, resulting in global development of capabilities. For example, Thermo Fisher Scientific, Inc. announced in August 2022 that it had enlarged its facility in Grand Island, New York. The USD 77 million expansion boosts the company's capacity to generate cell culture media for the production of vaccines and biologics.

REGIONAL ANALYSES

North America held a significant market share of over 41.8% in 2023 due to rising chronic and infectious illness cases, increased knowledge of personalized medicines, improved healthcare infrastructure and reimbursement models, the presence of important market participants, and intensive R&D activities have all contributed to the region's rise. Furthermore, regulatory support for biopharmaceuticals and regenerative medicines is propelling innovative cell-based therapeutics to market. Because of current clinical success rates and the product pipeline, the US FDA forecasts that by 2025, it will be approving 10 to 20 cell and gene therapy items per year.

Asia-Pacific is witness to expand fastest CAGR rate during the forecast period owing to multiple research settings in the region are driven by government funds for vaccine manufacturing and low operating and labor expenses. Furthermore, the Asia Pacific area is driven by domestic biologics demand as well as expanding economies, and it also has the greatest elderly population. Furthermore, in this region, numerous local Asian and international corporations are establishing a number of the world's new bioprocessing facilities.

Microcarriers-Market-Regional-Share-2023

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REGIONAL COVERAGE

North America

  • US

  • Canada

  • Mexico

Europe

  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America      

Key Players

The major players are Thermo Fisher Scientific, Inc., Danaher Corporation, Merck KGaA, Sartorius AG, Medtronic, Bio-Rad Laboratories, Inc., Corning Incorporated, HiMedia Laboratories Pvt. Ltd., Fujitsu Ltd., Microcarrier Corporation, Qualcomm,denovoMATRIX GmbH and Others.

RECENT DEVELOPMENTS

denovoMATRIX GmbH, in May 2022 denovoMATRIX GmbH, a cell and gene therapy manufacturing firm based in Germany, has launched a new product called beadMATRIX. The new product is a unique microcarrier bead for 3D MSC culture that allows for high-quality and rapid stem cell proliferation.

Microcarrier Corporation, in february 2022, Microcarrier Corporation and Fujitsu Ltd. announced the signing of a formal agreement in which Fujitsu will purchase Microcarrier. The acquisition is estimated to be worth $4.2 billion.

In April 2022, Microcarrier Corporation and IBM signed a formal deal under which IBM will acquire Microcarrier for $4.4 billion.

In June 2022, Qualcomm and Microcarrier Corporation signed a definitive deal for Qualcomm to acquire Microcarrier for $4.5 billion.

Microcarriers Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 1.52 Billion
Market Size by 2032  US$ 4.11 Billion
CAGR   CAGR of 11.7% From 2024 to 2032
Base Year  2023
Forecast Period  2024-2032
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Consumables (Media & Reagents, Microcarrier Beads)
• By Application (Biopharmaceutical Production, Regenerative Medicine)
• By End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations & Contract Manufacturing Organizations, Academic & Research Institutes)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Company Profiles Thermo Fisher Scientific, Inc., Danaher Corporation,Merck KGaA, Sartorius AG, Medtronic, Bio-Rad Laboratories, Inc.,Corning Incorporated, HiMedia Laboratories Pvt. Ltd., Fujitsu Ltd., Microcarrier Corporation, Qualcomm,denovoMATRIX GmbH
Key Drivers • Growing interest in cell-based vaccines
Market Challenges • The unavailability of low-cost serum-free media, as well as microcarrier-cell detachment

 

Frequently Asked Questions

Ans: Microcarrier beads segment dominated the microcarriers market with a share of 65.2% in 2023.

Ans: Microcarriers Market is anticipated to expand by 11.7% from 2024 to 2031.

Ans:  The growth rate of microcarriers market is expected to grow USD 4.11 billion by 2032.

Ans: Microcarriers Market size was valued at USD 1.52 billion in 2023.

Ans: Growing interest in cell-based vaccines.

TABLE OF CONTENTS

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8. Pest Analysis

9. Microcarriers Market Segmentation, By Consumables

9.1 Introduction

  1. Trend Analysis

9.3 Media & Reagents

9.4 Microcarrier Beads

9.4.1 Collagen Coated Beads

9.4.2 Cationic Beads

9.4.3 Protein Coated Beads

9.4.4 Untreated Beads

9.4.5 Others

10. Microcarriers Market Segmentation, By Application

10.1 Introduction

10.2 Trend Analysis

10.3 Biopharmaceutical Consumablesion

10.3.1 Vaccine Consumablesion

10.3.2 Therapeutic Consumablesion

10.4 Regenerative Medicine

11. Microcarriers Market Segmentation, By End user

11.1 Introduction

11.2 Trend Analysis

11.3 Pharmaceutical and BioApplication Companies

11.4 Contract Research Organizations & Contract Manufacturing Organization

11.5 Academic and Research Institutes

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 Trend Analysis

12.2.2 North America Microcarriers Market by Country

12.2.3 North America Microcarriers Market By Consumables

12.2.4 North America Microcarriers Market By Application

12.2.5 North America Microcarriers Market By End user

12.2.6 USA

12.2.6.1 USA Microcarriers Market By Consumables

12.2.6.2 USA Microcarriers Market By Application

12.2.6.3 USA Microcarriers Market By End user

12.2.7 Canada

12.2.7.1 Canada Microcarriers Market By Consumables

12.2.7.2 Canada Microcarriers Market By Application

12.2.7.3 Canada Microcarriers Market By End user

12.2.8 Mexico

12.2.8.1 Mexico Microcarriers Market By Consumables

12.2.8.2 Mexico Microcarriers Market By Application

12.2.8.3 Mexico Microcarriers Market By End user

12.3 Europe

12.3.1 Trend Analysis

12.3.2 Eastern Europe

12.3.2.1 Eastern Europe Microcarriers Market by Country

12.3.2.2 Eastern Europe Microcarriers Market By Consumables

12.3.2.3 Eastern Europe Microcarriers Market By Application

12.3.2.4 Eastern Europe Microcarriers Market By End user

12.3.2.5 Poland

12.3.2.5.1 Poland Microcarriers Market By Consumables

12.3.2.5.2 Poland Microcarriers Market By Application

12.3.2.5.3 Poland Microcarriers Market By End user

12.3.2.6 Romania

12.3.2.6.1 Romania Microcarriers Market By Consumables

12.3.2.6.2 Romania Microcarriers Market By Application

12.3.2.6.4 Romania Microcarriers Market By End user

12.3.2.7 Hungary

12.3.2.7.1 Hungary Microcarriers Market By Consumables

12.3.2.7.2 Hungary Microcarriers Market By Application

12.3.2.7.3 Hungary Microcarriers Market By End user

12.3.2.8 Turkey

12.3.2.8.1 Turkey Microcarriers Market By Consumables

12.3.2.8.2 Turkey Microcarriers Market By Application

12.3.2.8.3 Turkey Microcarriers Market By End user

12.3.2.9 Rest of Eastern Europe

12.3.2.9.1 Rest of Eastern Europe Microcarriers Market By Consumables

12.3.2.9.2 Rest of Eastern Europe Microcarriers Market By Application

12.3.2.9.3 Rest of Eastern Europe Microcarriers Market By End user

12.3.3 Western Europe

12.3.3.1 Western Europe Microcarriers Market by Country

12.3.3.2 Western Europe Microcarriers Market By Consumables

12.3.3.3 Western Europe Microcarriers Market By Application

12.3.3.4 Western Europe Microcarriers Market By End user

12.3.3.5 Germany

12.3.3.5.1 Germany Microcarriers Market By Consumables

12.3.3.5.2 Germany Microcarriers Market By Application

12.3.3.5.3 Germany Microcarriers Market By End user

12.3.3.6 France

12.3.3.6.1 France Microcarriers Market By Consumables

12.3.3.6.2 France Microcarriers Market By Application

12.3.3.6.3 France Microcarriers Market By End user

12.3.3.7 UK

12.3.3.7.1 UK Microcarriers Market By Consumables

12.3.3.7.2 UK Microcarriers Market By Application

12.3.3.7.3 UK Microcarriers Market By End user

12.3.3.8 Italy

12.3.3.8.1 Italy Microcarriers Market By Consumables

12.3.3.8.2 Italy Microcarriers Market By Application

12.3.3.8.3 Italy Microcarriers Market By End user

12.3.3.9 Spain

12.3.3.9.1 Spain Microcarriers Market By Consumables

12.3.3.9.2 Spain Microcarriers Market By Application

12.3.3.9.3 Spain Microcarriers Market By End user

12.3.3.10 Netherlands

12.3.3.10.1 Netherlands Microcarriers Market By Consumables

12.3.3.10.2 Netherlands Microcarriers Market By Application

12.3.3.10.3 Netherlands Microcarriers Market By End user

12.3.3.11 Switzerland

12.3.3.11.1 Switzerland Microcarriers Market By Consumables

12.3.3.11.2 Switzerland Microcarriers Market By Application

12.3.3.11.3 Switzerland Microcarriers Market By End user

12.3.3.1.12 Austria

12.3.3.12.1 Austria Microcarriers Market By Consumables

12.3.3.12.2 Austria Microcarriers Market By Application

12.3.3.12.3 Austria Microcarriers Market By End user

12.3.3.13 Rest of Western Europe

12.3.3.13.1 Rest of Western Europe Microcarriers Market By Consumables

12.3.3.13.2 Rest of Western Europe Microcarriers Market By Application

12.3.3.13.3 Rest of Western Europe Microcarriers Market By End user

12.4 Asia-Pacific

12.4.1 Trend Analysis

12.4.2 Asia-Pacific Microcarriers Market by Country

12.4.3 Asia-Pacific Microcarriers Market By Consumables

12.4.4 Asia-Pacific Microcarriers Market By Application

12.4.5 Asia-Pacific Microcarriers Market By End user

12.4.6 China

12.4.6.1 China Microcarriers Market By Consumables

12.4.6.2 China Microcarriers Market By Application

12.4.6.3 China Microcarriers Market By End user

12.4.7 India

12.4.7.1 India Microcarriers Market By Consumables

12.4.7.2 India Microcarriers Market By Application

12.4.7.3 India Microcarriers Market By End user

12.4.8 Japan

12.4.8.1 Japan Microcarriers Market By Consumables

12.4.8.2 Japan Microcarriers Market By Application

12.4.8.3 Japan Microcarriers Market By End user

12.4.9 South Korea

12.4.9.1 South Korea Microcarriers Market By Consumables

12.4.9.2 South Korea Microcarriers Market By Application

12.4.9.3 South Korea Microcarriers Market By End user

12.4.10 Vietnam

12.4.10.1 Vietnam Microcarriers Market By Consumables

12.4.10.2 Vietnam Microcarriers Market By Application

12.4.10.3 Vietnam Microcarriers Market By End user

12.4.11 Singapore

12.4.11.1 Singapore Microcarriers Market By Consumables

12.4.11.2 Singapore Microcarriers Market By Application

12.4.11.3 Singapore Microcarriers Market By End user

12.4.12 Australia

12.4.12.1 Australia Microcarriers Market By Consumables

12.4.12.2 Australia Microcarriers Market By Application

12.4.12.3 Australia Microcarriers Market By End user

12.4.13 Rest of Asia-Pacific

12.4.13.1 Rest of Asia-Pacific Microcarriers Market By Consumables

12.4.13.2 Rest of Asia-Pacific Microcarriers Market By Application

12.4.13.3 Rest of Asia-Pacific Microcarriers Market By End user

12.5 Middle East & Africa

12.5.1 Trend Analysis

12.5.2 Middle East

12.5.2.1 Middle East Microcarriers Market by Country

12.5.2.2 Middle East Microcarriers Market By Consumables

12.5.2.3 Middle East Microcarriers Market By Application

12.5.2.4 Middle East Microcarriers Market By End user

12.5.2.5 UAE

12.5.2.5.1 UAE Microcarriers Market By Consumables

12.5.2.5.2 UAE Microcarriers Market By Application

12.5.2.5.3 UAE Microcarriers Market By End user

12.5.2.6 Egypt

12.5.2.6.1 Egypt Microcarriers Market By Consumables

12.5.2.6.2 Egypt Microcarriers Market By Application

12.5.2.6.3 Egypt Microcarriers Market By End user

12.5.2.7 Saudi Arabia

12.5.2.7.1 Saudi Arabia Microcarriers Market By Consumables

12.5.2.7.2 Saudi Arabia Microcarriers Market By Application

12.5.2.7.3 Saudi Arabia Microcarriers Market By End user

12.5.2.8 Qatar

12.5.2.8.1 Qatar Microcarriers Market By Consumables

12.5.2.8.2 Qatar Microcarriers Market By Application

12.5.2.8.3 Qatar Microcarriers Market By End user

12.5.2.9 Rest of Middle East

12.5.2.9.1 Rest of Middle East Microcarriers Market By Consumables

12.5.2.9.2 Rest of Middle East Microcarriers Market By Application

12.5.2.9.3 Rest of Middle East Microcarriers Market By End user

12.5.3 Africa

12.5.3.1 Africa Microcarriers Market by Country

12.5.3.2 Africa Microcarriers Market By Consumables

12.5.3.3 Africa Microcarriers Market By Application

12.5.3.4 Africa Microcarriers Market By End user

12.5.3.5 Nigeria

12.5.3.5.1 Nigeria Microcarriers Market By Consumables

12.5.3.5.2 Nigeria Microcarriers Market By Application

12.5.3.5.3 Nigeria Microcarriers Market By End user

12.5.3.6 South Africa

12.5.3.6.1 South Africa Microcarriers Market By Consumables

12.5.3.6.2 South Africa Microcarriers Market By Application

12.5.3.6.3 South Africa Microcarriers Market By End user

12.5.3.7 Rest of Africa

12.5.3.7.1 Rest of Africa Microcarriers Market By Consumables

12.5.3.7.2 Rest of Africa Microcarriers Market By Application

12.5.3.7.3 Rest of Africa Microcarriers Market By End user

12.6 Latin America

12.6.1 Trend Analysis

12.6.2 Latin America Microcarriers Market by country

12.6.3 Latin America Microcarriers Market By Consumables

12.6.4 Latin America Microcarriers Market By Application

12.6.5 Latin America Microcarriers Market By End user

12.6.6 Brazil

12.6.6.1 Brazil Microcarriers Market By Consumables

12.6.6.2 Brazil Microcarriers Market By Application

12.6.6.3 Brazil Microcarriers Market By End user

12.6.7 Argentina

12.6.7.1 Argentina Microcarriers Market By Consumables

12.6.7.2 Argentina Microcarriers Market By Application

12.6.7.3 Argentina Microcarriers Market By End user

12.6.8 Colombia

12.6.8.1 Colombia Microcarriers Market By Consumables

12.6.8.2 Colombia Microcarriers Market By Application

12.6.8.3 Colombia Microcarriers Market By End user

12.6.9 Rest of Latin America

12.6.9.1 Rest of Latin America Microcarriers Market By Consumables

12.6.9.2 Rest of Latin America Microcarriers Market By Application

12.6.9.3 Rest of Latin America Microcarriers Market By End user

13. Company Profiles

13.1 Thermo Fisher Scientific, Inc.

13.1.1 Company Overview

13.1.2 Financial

13.1.3 Consumables/ Services Offered

13.1.4 SWOT Analysis

13.1.5 The SNS View

13.2 Danaher Corporation

13.2.1 Company Overview

13.2.2 Financial

13.2.3 Consumables / Services Offered

13.2.4 SWOT Analysis

13.2.5 The SNS View

13.3 Merck KGaA

13.3.1 Company Overview

13.3.2 Financial

13.3.3 Consumables / Services Offered

13.3.4 SWOT Analysis

13.3.5 The SNS View

13.4 Sartorius AG

13.4.1 Company Overview

13.4.2 Financial

13.4.3 Consumables / Services Offered

13.4.4 SWOT Analysis

13.4.5 The SNS View

13.5 Medtronic

13.5.1 Company Overview

13.5.2 Financial

13.5.3 Consumables/ Services Offered

13.5.4 SWOT Analysis

13.5.5 The SNS View

13.6 Bio-Rad Laboratories, Inc.

13.6.1 Company Overview

13.6.2 Financial

13.6.3 Consumables/ Services Offered

13.6.4 SWOT Analysis

13.6.5 The SNS View

13.7 Corning Incorporated

13.7.1 Company Overview

13.7.2 Financial

13.7.3 Consumables/ Services Offered

13.7.4 SWOT Analysis

13.7.5 The SNS View

13.8 HiMedia Laboratories Pvt. Ltd.

13.8.1 Company Overview

13.8.2 Financial

13.8.3 Consumables/ Services Offered

13.8.4 SWOT Analysis

13.8.5 The SNS View

13.9 Fujitsu Ltd.

13.9.1 Company Overview

13.9.2 Financial

13.9.3 Consumables/ Services Offered

13.9.4 SWOT Analysis

13.9.5 The SNS View

13.10 Microcarrier Corporation

13.10.1 Company Overview

13.10.2 Financial

13.10.3 Consumables/ Services Offered

13.10.4 SWOT Analysis

13.10.5 The SNS View

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

14.3.1 Industry News

14.3.2 Company News

14.3.3 Mergers & Acquisitions

15. Use Case and Best Practices

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

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Data Bank Validation

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