Cryogenic Vials Market

Cryogenic Vials Market Size by Type (Internally Threaded Cryogenic Vials, and Externally Threaded Cryogenic Vials), By Application (Research Organization, Drug Manufacturer, and Healthcare Institution), Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13185
  • Published Date: Dec, 2022
  • Pages: 110
  • Category: Healthcare
  • Format: PDF
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The cryogenic vials market was estimated at around USD 6.45 billion in 2021, growing at a CAGR of nearly 5.6% during 2022-2030. The market is projected to reach approximately USD 10.6 billion by 2030.

Cryogenic Vials Market: Overview

The best and most leak-proof choice is believed to be cryogenic vials, which are used to retain samples for extended periods of time. It is perfect for holding a range of specimens and biological materials at very low temperatures. The quick thread design of the vial facilitates removal and tightening. Typically, they are contained in special, tamper-evident safety-lock bags. The market's industry trends are changing, which will help firms create effective long-term plans. Both developed and developing markets have adopted strategies for business expansion. The global development and growing growth of pharmaceutical companies is driving the need for cryogenic vials. Additionally, it is anticipated that the prevalence of chronic diseases including cancer, diabetes, and communicable diseases will increase, spurring industry growth. Global demand for cryogenic vials is anticipated to rise during the projection period as a result of both an apparent rise in the older population around the world and the speed at which industrialization is proceeding.

Cryogenic Vials Market

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Cryogenic Vials Market: COVID – 19 Impact Analysis

It was believed that the Covid-19 pandemic would restrict the market for cryogenic vials from growing. Different governments were putting out legislation that would cut them off from the general public and the commercial personnel. Global demand for packaging services has reduced as a result of people eventually becoming stranded in their homes and the fact that very few supply chain facilities were completely operational. Several industries were seeing a sharp decline in demand for non-essential product sales. This decline in demand was anticipated to have some detrimental effects on pharmaceutical companies' and healthcare organizations' demand for cryogenic vials. All that the coronavirus outbreak has done is prepare the healthcare industry to capitalize on opportunities. The COVID-19 epidemic adversely affected the majority of nations in 2020, which led to the temporary shutdown of a number of sectors, including those producing addiction therapies. Their production and distribution activities were negatively disrupted by the shutdowns. Additionally, there was a rise in the need for addiction therapies because online channels continued to be active during the pandemic. The regional cryogenic vials market is anticipated to develop throughout the course of the forecast period, however, due to factors such as the continuing of commerce with China and other international nations and the restart of clinical studies for additional ailments.

Cryogenic Vials Market: Growth Drivers

Increasing use of barcodes on cryogenic vials

The desire for supplies that are simple to track and record with little to no manual involvement is being driven by the growing adoption of LIMS and automation technology. End users may simply track and keep records and other relevant information while using LIMS and other inventory management software. Given these reasons, global market providers are concentrating on updating their product offerings with cutting-edge tracking technologies like 1D and 2D barcoded cryogenic vials. Biobanks and cell banks that are involved in the cryopreservation of numerous different types of biomaterials are increasingly adopting technologically improved cryogenic vials. Cryogenic vials with printed barcodes are more durable than those without, and they make it simple to identify and track biomaterials and samples while upholding a trustworthy chain of custody through automated data storage. This enhances the effectiveness and efficiency of cryopreservation processes, reduces the possibility of human error, maintains reproducibility, and fosters collaboration among sample batches. The simple exchange of information across several end users has been made possible by the digital storing of information through barcode scanning. During the projected period, the expansion of the global market is anticipated to be fueled by the development of such goods and their increasing use.

The growing use of cryopreservation techniques

The temperature at which the biological samples are kept is extraordinarily low for cryopreservation. Cryosurgery, food sciences, the preservation of cells and organs, molecular biology and biochemistry, as well as medicinal applications, all make extensive use of this tactic. Cryopreservation is proving to be a very beneficial technique for laboratory clinicians, medical professionals, and researchers for retaining samples for a very long time while maintaining uniformity and repeatability in many applications. Effective cryopreservation of biological elements, such cells and tissues, helps to reduce the extra expenses associated with regularly restocking inventory. Hepatocytes, cardiomyocytes, and neuronal cells are frequently used in neuroscience and cardiology research, which has boosted the demand for their cryopreservation. In cryopreservation methods, cryogenic vials are essential because they are very effective at maintaining ideal storage conditions and allowing for the necessary recovery of biological components. As a result, the demand for cryogenic vials is rising at the same time as cryopreservation methods are significantly expanding. This will propel the expansion of the global market during the forecast period.

Cryogenic Vials Market: Segmentation Analysis

The market for cryogenic vials is categorized into type and application sectors. In the upcoming years, the industry is expected to be dominated by the internally threaded cryogenic vials market category. The selection of cryogenic vials is heavily influenced by end-user preferences and the manual handling techniques used during cryopreservation. Similar viability and sealing characteristics are offered for biomaterials by internally threaded cryogenic vials as compared to externally threaded cryogenic vials. Internally threaded cryogenic vials are preferred by end users for handling during cryopreservation, nevertheless. Therefore, compared to externally threaded cryogenic vials, sales of internally threaded cryogenic vials are higher.

By application, the healthcare institution segment is anticipated to dominant the cryogenic vials market during the forecast period. A significant rise in global research and development efforts is primarily responsible for the segment's growth in the cryogenic vials market.

Report Scope

Attribute Description
Base Year 2021
Forecast period 2022-2030
Report Coverage Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Market Size(unit) USD Billion
CAGR (2022 to 2030) 5.6%
Segments Covered

By Type
By Application

Key Insights:

  • Based on type segmentation, the internally threaded cryogenic vials segment is estimated to hold the largest market share during the forecast period.
  • Based on application segmentation, the healthcare institution segment is the leading revenue-generating category during the forecast period.
  • On the basis of geography/region, the North America region was the leading revenue generator in 2021.

Recent Development

  • January 2022: Freeze-Lock, a cryo label created by Schreiner MediPharm, is permanently resistant to the sub-zero temperatures required for many cell and gene therapy drugs or clinical trials, including those for COVID-19 mRNA vaccines. The brand-new approach uses two interlocking label layers that guarantee dependable adhesive strength and legible product information.
  • September 2020: A 15 million EUR investment has been announced by Müller & Müller, a producer of main tubular glass packaging materials for the pharmaceutical industry, at its vial manufacturing facility in Holzminden.

Regional Landscape

It is projected that North America, which presently holds the majority of the market's revenue share, will continue to be one of the most enticing markets during the projection period. The rise of revenue in North America is primarily driven by developed economies like the United States. During the anticipated time frame, both the need for and the supply of cryopreserved biomaterials, such as antibodies, nucleic acids, cells, proteins, and tissue samples, will increase. Additionally, due to developments in science and technology, the cryogenic vials market in this region has expanded.

List of the prominent players in the Global Cryogenic vials market:

  • Thermo Fisher Scientific Inc.
  • Corning Incorporated
  • DWK Life Sciences GmbH
  • Sigma-Aldrich Corporation
  • VWR International LLC
  • BioCision LLC
  • Sumitomo Bakelite Co. Ltd
  • Starlab International GmbH
  • Incell Technologies
  • Argos Technologies

The global Cryogenic vials market is segmented as follows:

By Type

  • Internally Threaded Cryogenic Vials
  • Externally Threaded Cryogenic Vials

By Application

  • Research Organization
  • Drug Manufacturer
  • Healthcare Institution

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Application
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing use of barcodes on cryogenic vials
          5.2.2. The growing use of cryopreservation techniques
    5.3. Restrains
          5.3.1. High costs
    5.4. Opportunities
          5.4.1. Growth in the acceptance of cryopreservation methods

6. Global Cryogenic Vials Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Internally Threaded Cryogenic Vials
    6.3. Externally Threaded Cryogenic Vials

7. Global Cryogenic Vials Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Research Organization
    7.3. Drug Manufacturer
    7.4. Healthcare Institution

8. Global Cryogenic Vials Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
          8.3.6. Rest of Europe
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
          8.4.4. Australia
          8.4.5. South Korea
          8.4.6. Rest of Asia-Pacific
    8.5. South America
          8.5.1. Brazil
          8.5.2. Argentina
          8.5.3. Rest of South America
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
          8.6.3. Egypt
          8.6.4. Kuwait
          8.6.5. Saudi Arabia
          8.6.6. Rest of Middle East & Africa

9. Global Cryogenic Vials Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Cryogenic Vials Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Type Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Thermo Fisher Scientific Inc.
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Application Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Corning Incorporated
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Application Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. DWK Life Sciences GmbH
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Application Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Sigma-Aldrich Corporation
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Application Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. VWR International LLC
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Application Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. BioCision LLC
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Application Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Sumitomo Bakelite Co. Ltd
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Application Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Starlab International GmbH
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Application Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Incell Technologies
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Application Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Argos Technologies
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Application Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis

List of Table

1. Global Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

2. Global Internally Threaded Cryogenic Vials Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

3. Global Externally Threaded Cryogenic Vials Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

4. Global Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

5. Global Research Organization Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

6. Global Drug Manufacturer Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

7. Global Healthcare Institution Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

8. Global Cryogenic Vials Market, By Region, 2022-2030(USD Billion) 

9. Global Cryogenic Vials Market, By North America, 2022-2030(USD Billion) 

10. North America Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

11. North America Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

12. U.S. Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

13. U.S. Cryogenic Vials Market, By Application, 2022-2030(USD Billion)  

14. Canada Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

15. Canada Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

16. Mexico Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

17. Mexico Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

18. Europe Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

19. Europe Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

20. Germany Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

21. Germany Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

22. France Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

23. France Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

24. U.K. Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

25. U.K. Cryogenic Vials Market, By Application, 2022-2030(USD Billion)  

26. Italy Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

27. Italy Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

28. Spain Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

29. Spain Cryogenic Vials Market, By Application, 2022-2030(USD Billion)

30. Rest of Europe Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

31. Rest of Europe Cryogenic Vials Market, By Application, 2022-2030(USD Billion)

32. Asia Pacific Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

33. Asia Pacific Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

34. Japan Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

35. Japan Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

36. China Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

37. China Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

38. India Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

39. India Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

40. Australia Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

41. Australia Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

42. South Korea Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

43. South Korea Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

44. Rest of Asia-Pacific Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

45. Rest of Asia-Pacific Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

46. South America Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

47. South America Cryogenic Vials Market, By Application, 2022-2030(USD Billion)  

48. Brazil Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

49. Brazil Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

50. Argentina Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

51. Argentina Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

52. Rest of Latin America Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

53. Rest of Latin America Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

54. Middle East and Africa Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

55. Middle East and Africa Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

56. UAE Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

57. UAE Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

58. South Africa Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

59. South Africa Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

60. Egypt Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

61. Egypt Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

62. Kuwait Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

63. Kuwait Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

64. Saudi Arabia Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

65. Saudi Arabia Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

66. Rest of Middle East Cryogenic Vials Market, By Type, 2022-2030(USD Billion) 

67. Rest of Middle East Cryogenic Vials Market, By Application, 2022-2030(USD Billion) 

List of Figures 

1. Global Cryogenic Vials Market Segmentation

2. Cryogenic Vials Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Cryogenic Vials Market Attractiveness Analysis By Type

9. Global Cryogenic Vials Market Attractiveness Analysis By Application

10. Global Cryogenic Vials Market Attractiveness Analysis By Region

11. Global Cryogenic Vials Market: Dynamics

12. Global Cryogenic Vials Market Share By Type(2022 & 2030)

13. Global Cryogenic Vials Market Share By Application(2022 & 2030)

14. Global Cryogenic Vials Market Share by Regions (2022 & 2030)

15. Global Cryogenic Vials Market Share by Company (2021)

By Type

  • Internally Threaded Cryogenic Vials
  • Externally Threaded Cryogenic Vials

By Application

  • Research Organization
  • Drug Manufacturer
  • Healthcare Institution

By Region/Geography

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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