The Scleral Lens Market size was valued at USD 319.78 Million in 2023 and is expected to reach USD 1197.36 Million By 2031 and grow at a CAGR of 15.8% over the forecast period of 2024-2031.
The global market for scleral lenses, which are specialised contact lenses created to cover the entire corneal surface and rest on the sclera (white area of the eye), is referred to as the Scleral Lens Market. Scleral lenses are often used to treat a number of eye problems, such as keratoconus, uneven corneas, and severe dry eye syndrome.
Get More Information on Scleral Lens Market - Request Sample Report
They are bigger than conventional contact lenses. Due to a number of variables, the scleral lens industry has been rapidly expanding in recent years. First of all, scleral lenses are now a feasible choice for a wider group of patients thanks to developments in technology and materials that have improved their comfort and fit. The growing demand for scleral lenses is also influenced by the ageing population and the rising frequency of eye problems.
Scleral lenses come in a variety of sizes and shapes, including mini-scleral lenses, large-diameter lenses, and Toric scleral lenses. These lenses are often produced by specialised contact lens firms and are typically recommended by eye care specialists like optometrists and ophthalmologists. The market for scleral lenses is impacted by a number of variables, including the availability of cutting-edge lens designs, improvements in manufacturing processes, regulatory frameworks, and reimbursement policies. With multiple significant competitors operating on a worldwide scale, it is a dynamic and competitive market. Scleral lenses are used to treat vision problems like presbyopia, hyperopia, astigmatism, uneven corneas, ocular surface disease, and myopia. Over the course of the projection period, it is anticipated that this disease's rising prevalence will drive the scleral lens market. According to the World Health Organisation, East Asian nations, including Singapore, South Korea, and Japan, have the highest frequency of myopia. According to a 2019 article from the National Centre for Biotechnology Information, by the year 2050, myopia and high myopia are both predicted to impact 4,950 million and 926 million individuals worldwide, respectively.
The need for scleral lenses has been pushed by the increasing frequency of eye disorders such as keratoconus, uneven corneas, and severe dry eye syndrome.
Blindness and eye conditions are becoming more prevalent.
In the upcoming years, the prevalence of various eye conditions such as myopia, astigmatism, and presbyopia is expected to increase, driving demand for scleral contact lenses.
Restrain
Scleral lenses have a higher price tag than conventional contact lenses because of their customised, specialised design and production methods.
Scleral lenses are used when other contact lenses are ineffective.
Patients who are unable to locate the proper contact lenses to treat their visual problems can benefit from scleral lenses. Scleral lenses are preferable to gas-permeable lenses in terms of comfort, visual clarity, and stability. A scleral lens with a larger overall diameter is frequently beneficial for patients with ocular surface illnesses; however, this lens eventually needs advanced toric peripheral systems to align with the sclera. Scleral lenses are frequently the only practical solution in situations involving corneal irregularity or extreme sensitivity. The scleral lens market is being driven by these advantages.
Opportunity
Scleral lens design, comfort, and optical results may all be improved with ongoing technological and material breakthroughs.
Manufacturers can create a Scleral market.
Manufacturers will be able to create scleral lenses, such as bifocal scleral lenses, which are useful for treating a variety of diseases, including the correction of presbyopia, thanks to advancements in R8D lens design.
Challenge
Despite rising awareness, scleral lenses continue to be poorly understood by both patients and certain eye care providers.
Optometrists and ophthalmologists need specialised training to prescribe these lenses.
The demand and supply for scleral lenses are segmented and examined for each distribution channel, including eye clinics, hospitals, and others. Of these, the segment for eye clinics is anticipated to expand significantly over the projection period.
Russian military troops began a military operation in Ukraine in February 2022, and it is expected that there will be ongoing violence and unrest in the area. The length, impact, and outcome of this ongoing military conflict are highly unpredictable and could cause significant market and other disruptions. These include significant volatility in commodity prices and the supply of energy resources, instability in financial markets, interruptions in supply chains, political and social unrest, Changes in consumer or buyer tastes, trade disputes or trade obstacles, as well as an uptick in cyberattacks and espionage.
Significant sanctions against Russia, Belarus, the Crimea Region of Ukraine, the so-called Donetsk People's Republic, and the so-called Luhansk People's Republic have been implemented as a result of the war by the United States, the European Union, the United Kingdom, Canada, Switzerland, Japan, and other nations. These sanctions include, among other things, blocking sanctions against some of the largest state-owned and private Russian financial institutions (and their subsequent removal from the Society for Worldwide). According to the Ministry of Internal Affairs and Communications, the average retail price in East Asia for a package of 90 soft contact lenses was $77 in February, an increase of 10.5% from five years earlier. An industry source reported that Johnson & Johnson and other contact lens manufacturers recently increased pricing, an uncommon action in a market known for severe price competitiveness. One explanation for the rise is higher production costs. In addition to increased energy costs, labour expenses have also risen as a result of a lack of workers.
The financial state of company clients, suppliers, and other business partners may also suffer as a result of the persistently unstable economic and financial market conditions. Customers may buy fewer of our items when their financial situations are bad, and we might not be able to recover accounts receivable, both of which might materially harm our company's operations or financial results. Our international business has suffered impacted by regional economic factors, such as inflation, rising labour costs, the recession, and currency exchange rate fluctuations, which negatively impacted our expenses to produce and deliver our goods and services as well as the money we made from the sale of such goods and services.
The company is dedicated to ongoing innovation. The value of products to our installed customer base, which consists of Global 10,000 enterprises (G10K), SMBs, and consumers, increases as a result of our efforts in R&D. According to estimated total revenues, the G10K includes the largest governments and businesses in the world. organisations Greater distribution and cross-selling potential result from more valuable items when combined with our well-established worldwide partner programme, which helps us further achieve organic growth. The company have spent a total of $1.22 billion, or 12.4% of total sales, on research and development during the last three fiscal years. The company aim to allocate 13% to 15% of revenues per year for R&D expenses.
Mini-Scleral Lenses
Large-Scleral Lenses
The mini segment dominates in the global contact lens market. This dominance is fueled by a rise in eye conditions like keratoconus and dry eye, along with the introduction of technologically advanced mini lenses. These advancements offer distinct advantages over traditional soft lenses, leading to a surge in demand. This trend is further bolstered by the post-surgical needs of patients undergoing procedures like PKP, who require mini lenses for optimal eye rehabilitation.
Hospitals
Eye-clinic
Others
The eye clinic segment holds the undisputed crown in the contact lens market, projected for impressive growth. This dominance is driven by the increasing number of independent practitioners opting for private practice, leading to a rise in lens fitting procedures conducted within eye clinics. This trend is further amplified by the growing awareness and accessibility of scleral lenses offered by these clinics, along with their focus on personalized patient care.
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 the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Regional Analysis
The global scleral lens market is a geographically diverse landscape. North America currently dominating, boasting a market size of USD 128.9 million in 2023. This dominance is fueled by a growing patient pool with eye diseases, a rising preference for scleral lenses among contact lens users, and a focus by major players on expanding their product offerings through strategic acquisitions and collaborations. Underscoring this dominance, a January 2021 CL Spectrum article revealed that scleral fitting prescriptions account for a significant 23% of all contact lens prescriptions in the U.S. and Canada alone. Europe follows closely behind, holding the second-largest market share as the growth is driven by a combination of factors like an expanding contact lens user base, a rising need for scleral lenses due to dry eye and corneal transplants, and active efforts by market players to solidify their presence in the region, exemplified by BostonSight's collaboration with Conóptica in July 2022. Moreover, the Asia Pacific region is poised for the most explosive growth which is attributed to a surge in patients who are not suitable for traditional soft lenses, a growing preference for contact lenses over spectacles, and a concerning rise in the prevalence of eye diseases.Finally, regions like Latin America and the Middle East & Africa are also expected to witness promising growth. This is due to a number of factors, including increasing awareness about scleral lenses, recent advancements in the healthcare sector, and government initiatives aimed at improving diagnosis and treatment rates for eye disorders, which will ultimately lead to a higher demand for scleral lenses.
Get Customized Report as per Your Business Requirement - Request For Customized Report
The major players are Art Optical Contact Lens Inc, Blanchard Lab, Bausch Health Companies Inc., Cooper Vision, Acculens, TruForm Optics Inc., BostonSight, ABB Optical Group, Essilor, Optact International Ltd., Valley Contax Inc., SynergEyes and others.
In August 2023, Visionary Optics upped the ante in scleral lens technology with the introduction of the Europa Tangent, featuring a groundbreaking lens design.
For its Onefit MED and Onefit MED+ scleral contact lenses, CooperVision Specialty EyeCare released Optimised Pupil Optics (OPO) to eye care professionals (ECPs) in the United States and Canada in 2021.
The New 28-Lens Zenlens Dx Set was introduced by Bausch Health Companies Inc. in 2021 in response to the rising demand for gas-permeable lenses to treat vision issues brought on by abnormalities in the cornea.
| Report Attributes | Details |
| Market Size in 2023 | US$ 319.78 Mn |
| Market Size by 2031 | US$ 1197.36 Mn |
| CAGR | CAGR of 15.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Mini, and Large) • By End-user (Hospital, Eye clinic, and other) |
| 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 | Art Optical Contact Lens Inc, Blanchard Lab, Bausch Health Companies Inc., Cooper Vision, Acculens, TruForm Optics Inc., BostonSight, ABB Optical Group, Essilor, Optact International Ltd., Valley Contax Inc., SynergEyes |
| Key Drivers | • The need for scleral lenses has been pushed by the increasing frequency of eye disorders such as keratoconus, uneven corneas, and severe dry eye syndrome. • Blindness and eye conditions are becoming more prevalent. |
| Market Opportunities | • Scleral lens design, comfort, and optical results may all be improved with ongoing technological and material breakthroughs. • Manufacturers can create a Scleral market. |
Ans: The Scleral Lens Market size was evaluted USD 319.78 Million in 2023.
Ans: The Scleral Lens Market is growing at 15.8% over the forecast period 2024-2031.
Ans: The Scleral Lens Market will hit USD 1197.36 million by 2031.
Ans: Scleral lenses are reusable and long-lasting.
Ans: The major key players are Art Optical Contact Lens Inc, Blanchard Lab, Bausch Health Companies Inc., Cooper Vision, Acculens, TruForm Optics Inc., BostonSight, ABB Optical Group, Essilor, Optact International Ltd., Valley Contax Inc., SynergEyes and other players.
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. Scleral Lens Market Segmentation, By Type
9.1 Introduction
9.2 Trend Analysis
9.3 Mini-Scleral Lenses
9.4 Large-Scleral Lenses
10. Scleral Lens Market Segmentation, By End-Use
10.1 Introduction
10.2 Trend Analysis
10.3 Hospitals
10.4 Eye-clinic
10.5 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Scleral Lens Market Segmentation, by Country
11.2.3 North America Scleral Lens Market Segmentation, By Type
11.2.4 North America Scleral Lens Market Segmentation, By End-Use
11.2.5 USA
11.2.5.1 USA Scleral Lens Market Segmentation, By Type
11.2.5.2 USA Scleral Lens Market Segmentation, By End-Use
11.2.6 Canada
11.2.6.1 Canada Scleral Lens Market Segmentation, By Type
11.2.6.2 Canada Scleral Lens Market Segmentation, By End-Use
11.2.7 Mexico
11.2.7.1 Mexico Scleral Lens Market Segmentation, By Type
11.2.7.2 Mexico Scleral Lens Market Segmentation, By End-Use
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Scleral Lens Market Segmentation, by Country
11.3.2.2 Eastern Europe Scleral Lens Market Segmentation, By Type
11.3.2.3 Eastern Europe Scleral Lens Market Segmentation, By End-Use
11.3.2.4 Poland
11.3.2.4.1 Poland Scleral Lens Market Segmentation, By Type
11.3.2.4.2 Poland Scleral Lens Market Segmentation, By End-Use
11.3.2.5 Romania
11.3.2.5.1 Romania Scleral Lens Market Segmentation, By Type
11.3.2.5.2 Romania Scleral Lens Market Segmentation, By End-Use
11.3.2.6 Hungary
11.3.2.6.1 Hungary Scleral Lens Market Segmentation, By Type
11.3.2.6.2 Hungary Scleral Lens Market Segmentation, By End-Use
11.3.2.7 Turkey
11.3.2.7.1 Turkey Scleral Lens Market Segmentation, By Type
11.3.2.7.2 Turkey Scleral Lens Market Segmentation, By End-Use
11.3.2.8 Rest of Eastern Europe
11.3.2.8.1 Rest of Eastern Europe Scleral Lens Market Segmentation, By Type
11.3.2.8.2 Rest of Eastern Europe Scleral Lens Market Segmentation, By End-Use
11.3.3 Western Europe
11.3.3.1 Western Europe Scleral Lens Market Segmentation, by Country
11.3.3.2 Western Europe Scleral Lens Market Segmentation, By Type
11.3.3.3 Western Europe Scleral Lens Market Segmentation, By End-Use
11.3.3.4 Germany
11.3.3.4.1 Germany Scleral Lens Market Segmentation, By Type
11.3.3.4.2 Germany Scleral Lens Market Segmentation, By End-Use
11.3.3.5 France
11.3.3.5.1 France Scleral Lens Market Segmentation, By Type
11.3.3.5.2 France Scleral Lens Market Segmentation, By End-Use
11.3.3.6 UK
11.3.3.6.1 UK Scleral Lens Market Segmentation, By Type
11.3.3.6.2 UK Scleral Lens Market Segmentation, By End-Use
11.3.3.7 Italy
11.3.3.7.1 Italy Scleral Lens Market Segmentation, By Type
11.3.3.7.2 Italy Scleral Lens Market Segmentation, By End-Use
11.3.3.8 Spain
11.3.3.8.1 Spain Scleral Lens Market Segmentation, By Type
11.3.3.8.2 Spain Scleral Lens Market Segmentation, By End-Use
11.3.3.9 Netherlands
11.3.3.9.1 Netherlands Scleral Lens Market Segmentation, By Type
11.3.3.9.2 Netherlands Scleral Lens Market Segmentation, By End-Use
11.3.3.10 Switzerland
11.3.3.10.1 Switzerland Scleral Lens Market Segmentation, By Type
11.3.3.10.2 Switzerland Scleral Lens Market Segmentation, By End-Use
11.3.3.11 Austria
11.3.3.11.1 Austria Scleral Lens Market Segmentation, By Type
11.3.3.11.2 Austria Scleral Lens Market Segmentation, By End-Use
11.3.3.12 Rest of Western Europe
11.3.3.12.1 Rest of Western Europe Scleral Lens Market Segmentation, By Type
11.3.2.12.2 Rest of Western Europe Scleral Lens Market Segmentation, By End-Use
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia Pacific Scleral Lens Market Segmentation, by Country
11.4.3 Asia Pacific Scleral Lens Market Segmentation, By Type
11.4.4 Asia Pacific Scleral Lens Market Segmentation, By End-Use
11.4.5 China
11.4.5.1 China Scleral Lens Market Segmentation, By Type
11.4.5.2 China Scleral Lens Market Segmentation, By End-Use
11.4.6 India
11.4.6.1 India Scleral Lens Market Segmentation, By Type
11.4.6.2 India Scleral Lens Market Segmentation, By End-Use
11.4.7 Japan
11.4.7.1 Japan Scleral Lens Market Segmentation, By Type
11.4.7.2 Japan Scleral Lens Market Segmentation, By End-Use
11.4.8 South Korea
11.4.8.1 South Korea Scleral Lens Market Segmentation, By Type
11.4.8.2 South Korea Scleral Lens Market Segmentation, By End-Use
11.4.9 Vietnam
11.4.9.1 Vietnam Scleral Lens Market Segmentation, By Type
11.4.9.2 Vietnam Scleral Lens Market Segmentation, By End-Use
11.4.10 Singapore
11.4.10.1 Singapore Scleral Lens Market Segmentation, By Type
11.4.10.2 Singapore Scleral Lens Market Segmentation, By End-Use
11.4.11 Australia
11.4.11.1 Australia Scleral Lens Market Segmentation, By Type
11.4.11.2 Australia Scleral Lens Market Segmentation, By End-Use
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Scleral Lens Market Segmentation, By Type
11.4.12.2 Rest of Asia-Pacific Scleral Lens Market Segmentation, By End-Use
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Scleral Lens Market Segmentation, by Country
11.5.2.2 Middle East Scleral Lens Market Segmentation, By Type
11.5.2.3 Middle East Scleral Lens Market Segmentation, By End-Use
11.5.2.4 UAE
11.5.2.4.1 UAE Scleral Lens Market Segmentation, By Type
11.5.2.4.2 UAE Scleral Lens Market Segmentation, By End-Use
11.5.2.5 Egypt
11.5.2.5.1 Egypt Scleral Lens Market Segmentation, By Type
11.5.2.5.2 Egypt Scleral Lens Market Segmentation, By End-Use
11.5.2.6 Saudi Arabia
11.5.2.6.1 Saudi Arabia Scleral Lens Market Segmentation, By Type
11.5.2.6.2 Saudi Arabia Scleral Lens Market Segmentation, By End-Use
11.5.2.7 Qatar
11.5.2.7.1 Qatar Scleral Lens Market Segmentation, By Type
11.5.2.7.2 Qatar Scleral Lens Market Segmentation, By End-Use
11.5.2.8 Rest of Middle East
11.5.2.8.1 Rest of Middle East Scleral Lens Market Segmentation, By Type
11.5.2.8.2 Rest of Middle East Scleral Lens Market Segmentation, By End-Use
11.5.3 Africa
11.5.3.1 Africa Scleral Lens Market Segmentation, by Country
11.5.3.2 Africa Scleral Lens Market Segmentation, By Type
11.5.3.3 Africa Scleral Lens Market Segmentation, By End-Use
11.5.3.4 Nigeria
11.5.3.4.1 Nigeria Scleral Lens Market Segmentation, By Type
11.5.3.4.2 Nigeria Scleral Lens Market Segmentation, By End-Use
11.5.3.5 South Africa
11.5.3.5.1 South Africa Scleral Lens Market Segmentation, By Type
11.5.3.5.2 South Africa Scleral Lens Market Segmentation, By End-Use
11.5.3.6 Rest of Africa
11.5.3.6.1 Rest of Africa Scleral Lens Market Segmentation, By Type
11.5.3.6.2 Rest of Africa Scleral Lens Market Segmentation, By End-Use
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Scleral Lens Market Segmentation, by Country
11.6.3 Latin America Scleral Lens Market Segmentation, By Type
11.6.4 Latin America Scleral Lens Market Segmentation, By End-Use
11.6.5 Brazil
11.6.5.1 Brazil Scleral Lens Market Segmentation, By Type
11.6.5.2 Brazil Scleral Lens Market Segmentation, By End-Use
11.6.6 Argentina
11.6.6.1 Argentina Scleral Lens Market Segmentation, By Type
11.6.6.2 Argentina Scleral Lens Market Segmentation, By End-Use
11.6.7 Colombia
11.6.7.1 Colombia Scleral Lens Market Segmentation, By Type
11.6.7.2 Colombia Scleral Lens Market Segmentation, By End-Use
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Scleral Lens Market Segmentation, By Type
11.6.8.2 Rest of Latin America Scleral Lens Market Segmentation, By End-Use
12. Company Profiles
12.1 Art Optical Contact Lens Inc
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Blanchard Lab
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Bausch Health Companies Inc.
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Cooper Vision
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Acculens
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 TruForm Optics Inc.
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 BostonSight
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 ABB Optical Group
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Essilor
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Optact International Ltd.
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Valley Contax Inc.
12.11.1 Company Overview
12.11.2 Financial
12.11.3 Products/ Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 SynergEyes
12.12.1 Company Overview
12.12.2 Financial
12.12.3 Products/ Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
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 Cases 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 Microbiome Therapeutics Market size was valued at USD 132.94 million in 2023 and is expected to reach at USD 1979.94 million by 2031, and grow at a CAGR of 40.16% over the forecast period of 2024-2031.
The Live Cell Encapsulation Market size was estimated at USD 217.58 million in 2023 and is expected to reach USD 309.95 million by 2032 wit a growing CAGR of 4.01% during the forecast period of 2024-2032.
The Lymphoma Treatment Market size was valued at USD 9.08 Billion in 2023 & is estimated to reach USD 19.09 Billion by 2032 with a growing CAGR of 8.61% between 2024 and 2032.
The Medical Foam Market size was valued at US$ $30.45 billion in 2023 and is projected to reach US$ 51.35 billion by 2031 with an increasing CAGR of 6.8% during the forecast period of 2024-2032.
The Bilirubin Blood Test Market size was estimated to reach USD 2.30 billion by 2030 at a CAGR of 6.32% during the forecast period of 2023-2030.
The Single-use Bioprocessing Market size was estimated at USD 9.1 billion in 2022 and is expected to reach USD 41.5 billion by 2030 with a growing CAGR of 20.9% during the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
