The Platelet Rich Plasma Market size was estimated USD 628.1 million in 2022 and is expected to reach USD 1948.2 million by 2030 at a CAGR of 15.2% during the forecast period of 2023-2030.
Platelet rich plasma (PRP) is made from blood. It is produced by spinning down human blood and separating platelet rich plasma with platelet concentrations above standard norms. Platelets help in blood clotting and tendon, muscle, and ligament recovery.
.png)
DRIVERS
Increasing the prevalence of sports injuries
Growing number of cosmetic surgical procedures
Technological Advancement
Technological advances in platelet rich plasma devices have resulted in an increase in the use of pure platelet rich plasma in a variety of circumstances with high platelet concentration. Smart home diagnostic kits, which are predicted to drive the market.
RESTRAIN
The high cost of platelet rich plasma product
The high cost of platelet rich plasma products is also predicted to restrain market expansion. Platelet rich plasma injections range in price from $210 to $802, depending on the use. Furthermore, the treatment of chronic diseases/injuries necessitates three to six injections, which raises the overall cost of the treatment. Similarly, Coastal Orthopedics estimates that platelet rich plasma therapy for muscle or tendon injuries will cost $1410 (US$720 each injection).
OPPORTUNITY
Increasing prevalence of chronic disorders
The growing frequency of chronic conditions such as orthopedic, cardiovascular, and neurovascular diseases has increased awareness of the benefits of platelet-rich plasma, particularly among working and senior populations. The prevalence of the diseases might lead to changes in lifestyle and worsen the patient's health. Furthermore, the persistence of such conditions might result in acute pain, which is extremely uncomfortable for the sufferer. Many studies have indicated that injecting platelet-rich plasma into the affected area promotes tissue repair and lowers inflammation. Therefore, the growing cases of such conditions will provide a huge opportunity to the market.
CHALLENGES
Nerve injuries and tissue damage during therapy
Platelet-rich plasma treatment can sometimes cause nerve injury and tissue damage. The damaged area should be checked for nerves where the injection will be administered. If platelet-rich plasma treatment is not administered properly, tissues can be harmed.
The European Union and the United States supplied 70% of the Russian cosmetics market, in April 2022, the market had decreased by 14% due to the flight and flight of significant enterprises and corporations. As a result, retail product variety decreased by 25%. For fear of running out of supplies causes people to hoard products. Cosmetics purchases increased by 3% in the first six months of 2022 as a result. However, the key sign of how the onset of the conflict affected the Russian cosmetics business was a drop in imports.
IMPACT OF ONGOING RECESSION
Based on foreign currency exchange rates at the end of 2022, Zimmer Biomet anticipate that foreign currency will have a negative impact on net sales growth in 2023, but at a lesser level than in 2022. They expect supply chain and inflation pressures to persist into 2023, with supply chain pressures moderating in the second half of the year and inflation remaining constant at the end of 2022. When compared to the previous year, the 4.1% and 9.9% net sales growth in the United States in 2022 and 2021, respectively, were principally driven by a recovery in surgical operations as COVID-19 instances subsided, particularly in the Knees and Hips categories. Internationally, net sales declined by 1.5 percent in 2022 when compared to 2021 and increased 13.5 percent in 2021 when compared to previous year. The decline in 2022 was driven by the negative impacts on international sales of 11.2% due to changes in foreign currency exchange rates.
By Type
Pure Platelet Rich Plasma
Leukocyte Rich Platelet Rich Plasma
Others
In 2022, Pure Platelet Rich Plasma segment is expected to held the highest market share of 51.9% during the forecast period due to broad use in the healing process, tissue repair, and regeneration. PRP therapies pose minimal risk and undesirable effects related to allergy and immunological responses. It is well recognized for its off-label use, and manufacturers are eager to create new products that are likely to expand the market.
By Application
Orthopedics
Sports Medicine
Cosmetic Surgery
Dermatology
Ulcer Healing
Venous Ulcer
Traumatic Ulcer
Diabetic Ulcer
Pyoderma Gangrenosum Ulcer
Trophic Ulcer
Vasculitic Ulcer
Others
Others
Ophthalmic Surgery
Neurosurgery
General Surgery
Others
In 2022, the Orthopedics segment is expected to dominate the market growth of 26.7% during the forecast period due to the osteoarthritis is the most common type of arthritis, affecting around 32 million Americans each year. Because of the growing older population, the occurrence of doctor-diagnosed arthritis is expected to rise significantly during the forecast period.
By End User
Hospitals
Clinics
Others
.png)
In 2022, Hospital segment is expected to dominate the market growth of 49.2% during the forecast period owing to the rapid spread of PRP-based therapies in hospitals as a result of the recent increase in known osteoarthritis cases, high demand for non-surgical management in therapy, and increased hair loss rates. Moreover, companies such as Focus Technology Co. and Changsha Biomed Supply Co. are assisting by installing centrifuge equipment in hospitals, creating further attractive chances for market growth.
North America held a significant market share growing with a CAGR of 44.2% in 2022 due to the presence of a significant number of manufacturing units interested in developing novel ways with PRP-based therapies, high procurement at end users such as hospitals and clinics, and the presence of key market competitors. Furthermore, regulatory bodies are backing and providing approvals, which has increased its market presence. Such activities are projected to contribute to the expansion of platelet rich plasma accessible in the market and drive growth.
Asia-Pacific is witness to expand fastest CAGR rate during the forecast period due to the increased number of cosmetic procedures, expanding interest of research and academic institutes, and increasing government backing for healthcare innovations.
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
The major key players are Johnson & Johnson Services, Inc., Arthrex, Inc., EmCyte Corporation, Dr PRP USA LLC, Juventix Regenerative Medical, LLC., Terumo Corporation, Zimmer Biomet, Stryker, Apex Biologix, Celling Biosciences, Inc., and Others.
In May 2023, Dr. John Kahen, the creator of Beverly Hills Med Spa, granted a US patent for Smart PRP therapy. Smart PRP is mostly utilized for hair restoration and other applications such as skin rejuvenation, scarring, pigmentation, and texture.
Zimmer Biomet Holdings Inc., in July 2021, Zimmer Biomet Holdings Inc., a global leader in musculoskeletal healthcare, established a strategic agreement with OSSIS, a New Zealand-based firm that specializes in hip replacement treatments. The collaboration's goal was to promote Zimmer Biomet's patient-specific 3D-printed titanium hip replacement joints in Asia-Pacific. The collaboration is expected to expand Zimmer Biomet's product portfolio of hip replacement options and other complimentary technologies.
| Report Attributes | Details |
| Market Size in 2022 | US$ 628.1 Million |
| Market Size by 2030 | US$ 1948.2 Million |
| CAGR | CAGR of 15.2 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Pure Platelet Rich Plasma, Leukocyte Rich Platelet Rich Plasma, Others) • By Application (Orthopedics, Sports Medicine, Cosmetic Surgery, Dermatology, Ophthalmic Surgery, Neurosurgery, General Surgery, Others) • By End User (Hospitals, Clinics, Others) |
| 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 | Johnson & Johnson Services, Inc., Arthrex, Inc., EmCyte Corporation, Dr PRP USA LLC, Juventix Regenerative Medical, LLC., Terumo Corporation, Zimmer Biomet, Stryker, Apex Biologix, Celling Biosciences, Inc. |
| Key Drivers | • Increasing the prevalence of sports injuries • Growing number of cosmetic surgical procedures • Technological Advancement |
| Market Challenges | • Nerve injuries and tissue damage during therapy |
Ans: Platelet Rich Plasma Market size was valued at USD 628.1 million in 2022.
Ans: Platelet Rich Plasma Market is anticipated to expand by 15.2% from 2023 to 2030.
Ans: USD 1948.2 million is expected to grow by 2030.
Ans: Growing prevalence of sports injuries and rising number of cosmetic surgical procedures.
Ans: Rapid technological advancements in EMC Filtration.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Platelet Rich Plasma Market Segmentation, By Type
8.1 Pure Platelet Rich Plasma
8.2 Leukocyte Rich Platelet Rich Plasma
8.3 Others
9. Platelet Rich Plasma Market Segmentation, By Application
9.1 Orthopedics
9.2 Sports Medicine
9.3 Cosmetic Surgery
9.4 Dermatology
9.4.1 Ulcer Healing
9.4.1.1 Venous Ulcer
9.4.1.2 Traumatic Ulcer
9.4.1.3 Diabetic Ulcer
9.4.1.4 Pyoderma Gangrenosum Ulcer
9.4.1.5 Trophic Ulcer
9.4.1.6 Vasculitic Ulcer
9.4.1.7 Others
9.4.2 Others
9.5 Ophthalmic Surgery
9.6 Neurosurgery
9.7 General Surgery
9.8 Others
10. Platelet Rich Plasma Market Segmentation, By End User
10.1 Hospitals
10.2 Clinics
10.3 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Platelet Rich Plasma Market by Country
11.2.2 North America Platelet Rich Plasma Market by Type
11.2.3 North America Platelet Rich Plasma Market by Application
11.2.4 North America Platelet Rich Plasma Market by End User
11.2.5 USA
11.2.5.1 USA Platelet Rich Plasma Market by Type
11.2.5.2 USA Platelet Rich Plasma Market by Application
11.2.5.3 USA Platelet Rich Plasma Market by End User
11.2.6 Canada
11.2.6.1 Canada Platelet Rich Plasma Market by Type
11.2.6.2 Canada Platelet Rich Plasma Market by Application
11.2.6.3 Canada Platelet Rich Plasma Market by End User
11.2.7 Mexico
11.2.7.1 Mexico Platelet Rich Plasma Market by Type
11.2.7.2 Mexico Platelet Rich Plasma Market by Application
11.2.7.3 Mexico Platelet Rich Plasma Market by End User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Platelet Rich Plasma Market by Country
11.3.1.2 Eastern Europe Platelet Rich Plasma Market by Type
11.3.1.3 Eastern Europe Platelet Rich Plasma Market by Application
11.3.1.4 Eastern Europe Platelet Rich Plasma Market by End User
11.3.1.5 Poland
11.3.1.5.1 Poland Platelet Rich Plasma Market by Type
11.3.1.5.2 Poland Platelet Rich Plasma Market by Application
11.3.1.5.3 Poland Platelet Rich Plasma Market by End User
11.3.1.6 Romania
11.3.1.6.1 Romania Platelet Rich Plasma Market by Type
11.3.1.6.2 Romania Platelet Rich Plasma Market by Application
11.3.1.6.4 Romania Platelet Rich Plasma Market by End User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Platelet Rich Plasma Market by Type
11.3.1.7.2 Turkey Platelet Rich Plasma Market by Application
11.3.1.7.3 Turkey Platelet Rich Plasma Market by End User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Platelet Rich Plasma Market by Type
11.3.1.8.2 Rest of Eastern Europe Platelet Rich Plasma Market by Application
11.3.1.8.3 Rest of Eastern Europe Platelet Rich Plasma Market by End User
11.3.2 Western Europe
11.3.2.1 Western Europe Platelet Rich Plasma Market by Type
11.3.2.2 Western Europe Platelet Rich Plasma Market by Application
11.3.2.3 Western Europe Platelet Rich Plasma Market by End User
11.3.2.4 Germany
11.3.2.4.1 Germany Platelet Rich Plasma Market by Type
11.3.2.4.2 Germany Platelet Rich Plasma Market by Application
11.3.2.4.3 Germany Platelet Rich Plasma Market by End User
11.3.2.5 France
11.3.2.5.1 France Platelet Rich Plasma Market by Type
11.3.2.5.2 France Platelet Rich Plasma Market by Application
11.3.2.5.3 France Platelet Rich Plasma Market by End User
11.3.2.6 UK
11.3.2.6.1 UK Platelet Rich Plasma Market by Type
11.3.2.6.2 UK Platelet Rich Plasma Market by Application
11.3.2.6.3 UK Platelet Rich Plasma Market by End User
11.3.2.7 Italy
11.3.2.7.1 Italy Platelet Rich Plasma Market by Type
11.3.2.7.2 Italy Platelet Rich Plasma Market by Application
11.3.2.7.3 Italy Platelet Rich Plasma Market by End User
11.3.2.8 Spain
11.3.2.8.1 Spain Platelet Rich Plasma Market by Type
11.3.2.8.2 Spain Platelet Rich Plasma Market by Application
11.3.2.8.3 Spain Platelet Rich Plasma Market by End User
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Platelet Rich Plasma Market by Type
11.3.2.9.2 Netherlands Platelet Rich Plasma Market by Application
11.3.2.9.3 Netherlands Platelet Rich Plasma Market by End User
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Platelet Rich Plasma Market by Type
11.3.2.10.2 Switzerland Platelet Rich Plasma Market by Application
11.3.2.10.3 Switzerland Platelet Rich Plasma Market by End User
11.3.2.11.1 Austria
11.3.2.11.2 Austria Platelet Rich Plasma Market by Type
11.3.2.11.3 Austria Platelet Rich Plasma Market by Application
11.3.2.11.4 Austria Platelet Rich Plasma Market by End User
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Platelet Rich Plasma Market by Type
11.3.2.12.2 Rest of Western Europe Platelet Rich Plasma Market by Application
11.3.2.12.3 Rest of Western Europe Platelet Rich Plasma Market by End User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Platelet Rich Plasma Market by Country
11.4.2 Asia-Pacific Platelet Rich Plasma Market by Type
11.4.3 Asia-Pacific Platelet Rich Plasma Market by Application
11.4.4 Asia-Pacific Platelet Rich Plasma Market by End User
11.4.5 China
11.4.5.1 China Platelet Rich Plasma Market by Type
11.4.5.2 China Platelet Rich Plasma Market by End User
11.4.5.3 China Platelet Rich Plasma Market by Application
11.4.6 India
11.4.6.1 India Platelet Rich Plasma Market by Type
11.4.6.2 India Platelet Rich Plasma Market by Application
11.4.6.3 India Platelet Rich Plasma Market by End User
11.4.7 Japan
11.4.7.1 Japan Platelet Rich Plasma Market by Type
11.4.7.2 Japan Platelet Rich Plasma Market by Application
11.4.7.3 Japan Platelet Rich Plasma Market by End User
11.4.8 South Korea
11.4.8.1 South Korea Platelet Rich Plasma Market by Type
11.4.8.2 South Korea Platelet Rich Plasma Market by Application
11.4.8.3 South Korea Platelet Rich Plasma Market by End User
11.4.9 Vietnam
11.4.9.1 Vietnam Platelet Rich Plasma Market by Type
11.4.9.2 Vietnam Platelet Rich Plasma Market by Application
11.4.9.3 Vietnam Platelet Rich Plasma Market by End User
11.4.10 Singapore
11.4.10.1 Singapore Platelet Rich Plasma Market by Type
11.4.10.2 Singapore Platelet Rich Plasma Market by Application
11.4.10.3 Singapore Platelet Rich Plasma Market by End User
11.4.11 Australia
11.4.11.1 Australia Platelet Rich Plasma Market by Type
11.4.11.2 Australia Platelet Rich Plasma Market by Application
11.4.11.3 Australia Platelet Rich Plasma Market by End User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Platelet Rich Plasma Market by Type
11.4.12.2 Rest of Asia-Pacific Platelet Rich Plasma Market by Application
11.4.12.3 Rest of Asia-Pacific Platelet Rich Plasma Market by End User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Platelet Rich Plasma Market by Country
11.5.1.2 Middle East Platelet Rich Plasma Market by Type
11.5.1.3 Middle East Platelet Rich Plasma Market by Application
11.5.1.4 Middle East Platelet Rich Plasma Market by End User
11.5.1.5 UAE
11.5.1.5.1 UAE Platelet Rich Plasma Market by Type
11.5.1.5.2 UAE Platelet Rich Plasma Market by Application
11.5.1.5.3 UAE Platelet Rich Plasma Market by End User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Platelet Rich Plasma Market by Type
11.5.1.6.2 Egypt Platelet Rich Plasma Market by Application
11.5.1.6.3 Egypt Platelet Rich Plasma Market by End User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Platelet Rich Plasma Market by Type
11.5.1.7.2 Saudi Arabia Platelet Rich Plasma Market by Application
11.5.1.7.3 Saudi Arabia Platelet Rich Plasma Market by End User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Platelet Rich Plasma Market by Type
11.5.1.8.2 Qatar Platelet Rich Plasma Market by Application
11.5.1.8.3 Qatar Platelet Rich Plasma Market by End User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Platelet Rich Plasma Market by Type
11.5.1.9.2 Rest of Middle East Platelet Rich Plasma Market by Application
11.5.1.9.3 Rest of Middle East Platelet Rich Plasma Market by End User
11.5.2 Africa
11.5.2.1 Africa Platelet Rich Plasma Market by Country
11.5.2.2 Africa Platelet Rich Plasma Market by Type
11.5.2.3 Africa Platelet Rich Plasma Market by Application
11.5.2.4 Africa Platelet Rich Plasma Market by End User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Platelet Rich Plasma Market by Type
11.5.2.5.2 Nigeria Platelet Rich Plasma Market by Application
11.5.2.5.3 Nigeria Platelet Rich Plasma Market by End User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Platelet Rich Plasma Market by Type
11.5.2.6.2 South Africa Platelet Rich Plasma Market by Application
11.5.2.6.3 South Africa Platelet Rich Plasma Market by End User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Platelet Rich Plasma Market by Type
11.5.2.7.2 Rest of Africa Platelet Rich Plasma Market by Application
11.5.2.7.3 Rest of Africa Platelet Rich Plasma Market by End User
11.6 Latin America
11.6.1 Latin America Platelet Rich Plasma Market by Country
11.6.2 Latin America Platelet Rich Plasma Market by Type
11.6.3 Latin America Platelet Rich Plasma Market by Application
11.6.4 Latin America Platelet Rich Plasma Market by End User
11.6.5 Brazil
11.6.5.1 Brazil Platelet Rich Plasma Market by Type
11.6.5.2 Brazil Platelet Rich Plasma Market by Application
11.6.5.3 Brazil Platelet Rich Plasma Market by End User
11.6.6 Argentina
11.6.6.1 Argentina Platelet Rich Plasma Market by Type
11.6.6.2 Argentina Platelet Rich Plasma Market by Application
11.6.6.3 Argentina Platelet Rich Plasma Market by End User
11.6.7 Colombia
11.6.7.1 Colombia Platelet Rich Plasma Market by Type
11.6.7.2 Colombia Platelet Rich Plasma Market by Application
11.6.7.3 Colombia Platelet Rich Plasma Market by End User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Platelet Rich Plasma Market by Type
11.6.8.2 Rest of Latin America Platelet Rich Plasma Market by Application
11.6.8.3 Rest of Latin America Platelet Rich Plasma Market by End User
12. Company profile
12.1 Johnson & Johnson Services, Inc.
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Types/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Arthrex, Inc.
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Type/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 EmCyte Corporation
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Type/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Dr PRP USA LLC
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Type/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Juventix Regenerative Medical LLC.
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Type/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Terumo Corporation
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Type/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Zimmer Biomet
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Type/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Stryker
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Type/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Apex Biologix
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Type/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Celling Biosciences, Inc.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Type/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Others
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. 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.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
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.
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.
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.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Dental Practice Management Software Market Size was expected to reach USD 5.54 billion by 2031, and is valued at USD 2.55 billion in 2023, and grow at a CAGR of 10.2% over the forecast period 2024-2031.
The Sleep Apnea Devices Market Size was valued at USD 4.69 billion in 2023 and is projected to reach USD 7.82 billion by 2031 with a growing CAGR of 6.60% Over the Forecast Period of 2023-2030.
The eHealth Market Size was valued at USD 245.24 billion in 2023, and is expected to reach USD 871.25 billion by 2031 and grow at a CAGR of 17.4% over the forecast period 2024-2031.
The Artificial Intelligence (AI) in Drug Discovery Market Size was valued at USD 1.42 billion in 2023 and is expected to reach USD 11.37 billion by 2031 and grow at a CAGR of 29.7% over the forecast period 2024-2031.
The Online Pharmacy Market size was valued at USD 92.47 in 2023 and is estimated to reach USD 311.65 Bn by 2031 and grow at a CAGR of 16.4% over the forecast period of 2024-2031.
The Clinical Trial Imaging Market Size was valued at USD 925.01 million in 2022, and is expected to reach USD 1818 million by 2030 and grow at a CAGR of 8.8% over the forecast period 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
