Ocular Implants Market

Ocular Implants Market Size by Product Type (Glaucoma Implants, Intraocular Lenses, Corneal Implants, Orbital implants, Ocular Prosthesis, &Others), Application (Glaucoma Surgery, Age-Related Macular Degeneration, Drug Delivery, Aesthetic Purpose, & Others), End Use, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12755
  • Published Date: May, 2022
  • Pages: 234
  • Category: Healthcare
  • Format: PDF
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The global ocular implants market is expected to reach USD 12.9 billion by 2030, at a CAGR of 5.6% from 2022 to 2030. Ocular implant market growth would be driven by the increasing incidence of eye disorders due to an increase in the geriatric population and sedentary lifestyles.

Market Overview:

The covid 19 pandemic affected the world and led to several lifestyle changes. Schools shifted to online mode, working professionals adjusted to work-from-home. This change led to increased screen time for students and working professionals. Regular exposure, for long hours, to the light rays of laptop and phone screens increased the cases of eye disorders like myopia, hypermetropia, dry eyes, etc. The covid 19 induced lockdowns gave way to a sedentary lifestyle, leading to a lot of lifestyle related diseases. These eye disorders such as incorrect refractive errors, corneal opacites, trachoma, glaucoma, diabetic retinopathy, age related macular degeneration etc. can be rectified with surgical interventions. The surgical interventions make the use of ocular implants to correct such disorders. Ocular implants have various applications. For example, in terms of layman's language, interocular implants can be used as an artificial eyes for patients who have lost their eye and need ocular implants to add aesthetic value to their appearance. Ocular implants can replace the lens of an injured eye as well. The type, color, shape & size is customized according to the patient. In cases of patients suffering from cataract or when vision is impaired due to some factor, ocular implants are used. Ocular implants are artificial devices that are surgically implanted to increase the sharpness of the vision or treat various eye disorders.

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Market Dynamics:

Drivers:
  • Increase in incidence of eye disorders

Increase in hours spent in front of the laptop, and mobile screens combined with a sedentary lifestyle have led to the rise in the population of individuals with eye disorders. To put this into perspective, around 3.17 million people in the US have had cataract surgeries, and about 537 million suffered from diabetic retinopathy in 2021. These figures are expected to grow over the years. With the increase in the number of people with eye disorders, there would be a parallel increase in the number of people seeking treatment for such disorders. This is going to drive the demand for ocular implants.

Restraints:
  • Stringent regulatory guidelines

The technological advancements and product innovations in the ocular implants market need to be approved by relevant authorities before they are used in surgical procedures or other such applications.  These authorities maintain high standards of compliance and accountability as they need to safeguard the interests of the target audience and save them from any ill-effects and fraudulent claims. The scrutiny that the market players have to go through is time-consuming. The timely launch of products and benefits that could be realized is affected due to these regulations, leading to a drop in profits.

Opportunities:
  • Technological advancements

With the increase in demand for ocular implants, major players have invested capital in the research and development of better devices. For example, the innovation of microinvasive glaucoma devices has contributed to the uptick in demand for treatments of glaucoma by individuals. Other such advancements in ocular devices will make the industry competitive and help it become more efficient, providing the necessary impetus to its growth.

Challenges:
  • Lack of accessibility

The increase in eye disorders will not completely replicate a parallel rise in the demand for such treatments because the accessibility in underdeveloped countries is very poor. This is further exacerbated by the fact that there are not many professionals or ophthalmologists in these countries. The restricted access will prove a challenge that can be mitigated with increased government expenditure on healthcare. The engagement of civil society groups and NGOS can also be utilized to spread awareness and increase the treatment rate. Increasing government initiatives and investments in the medical sector in the developing economies will provide a huge market to the growing ocular implants market..

Segmentation Analysis:

The global ocular implants market has been segmented based on product type, application, end-use, and regions.

  • The product type segment is divided into glaucoma implants, intraocular lenses, corneal implants, orbital implants, ocular prosthesis, & others. The intraocular lenses segment dominated the market with a market share of around 32% in 2021. The increased incidence of eye disorders, technological advancements in ocular devices, and steps to improve accessibility for such treatments are likely to drive the market for intraocular lenses.
  • The application segment is divided into glaucoma surgery, age-related macular degeneration, drug delivery, aesthetic purpose, & others. Over the forecast period, the glaucoma surgery segment is expected to grow at the fastest CAGR of 7.1%. According to WHO, the number of adults suffering from glaucoma were 20 million in 2020 and this number is expected to grow and reach 111 million by 2040, thus driving the demand for glaucoma surgeries and thereby for glaucoma implants.
  • The end-use segment is divided into hospitals, specialty eye institutes & clinics. In 2021, the hospitals segment dominated the market, accounting for around 53% of global revenue. With the pandemic exposing the poor state of healthcare infrastructure, governments of countries worldwide are focused on increasing capital spending to boost healthcare infrastructure and its holistic development. This will help in developing the infrastructure for ophthalmology sector as well which will keep the hospitals segment dominant throughout the forecast period.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region emerged as the largest market for the global ocular implants market, with a 37.6% share of the market revenue in 2021.

  • North America currently dominates the ocular implants market due to the increased incidence of eye disorders and renewed focus of the government on providing the necessary treatments to the patients. At the same time, Asia-Pacific is expected to rise in the forecast period due to increased governments' expenditure on healthcare infrastructure.

North America Region Ocular Implants Market Share in 2021 - 37.6%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global ocular implants industry.

Glaukos Corporation, which specializes in innovating treatments for ophthalmic diseases, received the FDA approval for its new product Istent inject. This is a second-generation updated version of this product that helps treat mild to moderate glaucoma.

List of Key Market Players:

  • Johnson & Johnson
  • Alcon
  • GlaukosCoporation
  • Bausch & Lomb
  • Hoya Corporation
  • Carl Zeiss AG
  • STAAR Surgical Company
  • Second Sight
  • Allergan
  • MORCHER GmbH

Key Target Audience

  • Hospitals and Eye Specialty Institutes
  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting and Research Firm
  • Venture capitalists
  • Third-party knowledge providers

Report Description:

  • Global Ocular Implants Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global ocular implants market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global ocular implants market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of ocular implants based on product type, application, end use and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global ocular implants market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global ocular implants market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global ocular implants market) is covered to comprehend the adoption rate and evaluate the market size. 

Frequesntly Asked Questions

As per The Brainy Insights, the size of the ocular implants market was valued at USD 7.9 billion in 2021 to USD 12.9 billion by 2030.

Global ocular implants market is growing at a CAGR of 5.6% during the forecast period 2022-2030.

The global ocular implants market has been segmented based on product type, application, end use and regions. The interocular lens segment led the market in 2021. The hospitals segment led the market in 2021.

North America region emerged as the largest market for the ocular implants.

The market's growth will be influenced by the increase in incidence of eye disorders in the population.

Stringent regulatory guidelines could hamper the market growth.

Technological advancements in ocular devices will provide huge opportunities to the market.

Key players are Johnson & Johnson, Alcon, Glaukos Coporation, Bausch & Lomb, Hoya Corporation, Carl Zeiss AG, STAAR Surgical Company, Second Sight, Allergan and MORCHER GmbH.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

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 Product Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By End Use
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increase in incidence of eye disorders
    5.3. Restraints
          5.3.1. Stringent regulatory guidelines
    5.4. Opportunities
          5.4.1. Technological advancements
    5.5. Challenges
          5.5.1. Lack of accessibility

6. Global Ocular Implants Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Glaucoma Implants
    6.3. Intraocular Lenses
    6.4. Corneal Implants
    6.5. Orbital Implants
    6.6. Ocular Prosthesis
    6.7. Others

7. Global Ocular Implants Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Glaucoma Surgery
    7.3. Age-Related Macular Degeneration
    7.4. Drug Delivery
    7.5. Aesthetic Purpose
    7.6. Other Applications

8. Global Ocular Implants Market Analysis and Forecast, By End Use
    8.1. Segment Overview
    8.2. Hospitals
    8.3. Specialty Eye Institutes
    8.4. Clinics

9. Global Ocular Implants Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Ocular Implants Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Ocular Implants Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Johnson & Johnson
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Alcon
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Glaukos Corporation
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Bausch & Lomb
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Hoya Corporation
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Carl Zeiss AG
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. STAAR Surgical Company
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Second Sight
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Allergan
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. MORCHER GmbH
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Glaucoma Implants Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

3. Global Intraocular Lenses Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

4. Global Corneal Implants Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

5. Global Orbital Implants Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

6. Global Ocular Prosthesis Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

7. Global Others Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

8. Global Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

9. Global Glaucoma Surgery Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

10. Global Age-Related Macular Degeneration Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

11. Global Drug Delivery Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

12. Global Aesthetic Purpose Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

13. Global Other Applications Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

14. Global Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

15. Global Hospitals Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

16. Global Speciality Eye InstitutesOcular Implants Market, By Region, 2019-2030 (USD Billion) 

17. Global Clinics Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

18. Global Ocular Implants Market, By Region, 2019-2030 (USD Billion) 

19. North America Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

20. North America Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

21. North America Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

22. U.S. Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

23. U.S. Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

24. U.S. Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

25. Canada Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

26. Canada Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

27. Canada Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

28. Mexico Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

29. Mexico Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

30. Mexico Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

31. Europe Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

32. Europe Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

33. Europe Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

34. Germany Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

35. Germany Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

36. Germany Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

37. France Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

38. France Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

39. France Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

40. U.K. Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

41. U.K. Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

42. U.K. Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

43. Italy Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

44. Italy Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

45. Italy Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

46. Spain Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

47. Spain Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

48. Spain Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

49. Asia Pacific Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

50. Asia Pacific Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

51. Asia Pacific Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

52. Japan Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

53. Japan Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

54. Japan Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

55. China Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

56. China Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

57. China Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

58. India Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

59. India Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

60. India Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

61. South America Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

62. South America Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

63. South America Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

64. Brazil Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

65. Brazil Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

66. Brazil Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

67. Middle East and Africa Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

68. Middle East and Africa Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

69. Middle East and Africa Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

70. UAE Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

71. UAE Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

72. UAE Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

73. South Africa Ocular Implants Market, By Product Type, 2019-2030 (USD Billion) 

74. South Africa Ocular Implants Market, By Application, 2019-2030 (USD Billion) 

75. South Africa Ocular Implants Market, By End Use, 2019-2030 (USD Billion) 

List of Figures 

1. Global Ocular Implants Market Segmentation

2. Ocular Implants 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 Ocular Implants Market Attractiveness Analysis By Product Type

9. Global Ocular Implants Market Attractiveness Analysis By Application

10. Global Ocular Implants Market Attractiveness Analysis By End Use

11. Global Ocular Implants Market Attractiveness Analysis By Region

12. Global Ocular Implants Market: Dynamics

13. Global Ocular Implants Market Share by Product Type (2022& 2030)

14. Global Ocular Implants Market Share by Application (2022& 2030)

15. Global Ocular Implants Market Share by End Use (2022& 2030)

16. Global Ocular Implants Market Share by Regions (2022& 2030)

17. Global Ocular Implants Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global ocular implants market based on below mentioned segments:

Global Ocular Implants Market by Product Type:

  • Glaucoma implants
  • Intraocular lenses
  • Corneal implants
  • Orbital implants
  • Ocular prosthesis
  • Others

Global Ocular Implants Market by Application:

  • Glaucoma surgery
  • Age-related macular degeneration
  • Drug delivery
  • Aesthetic purpose
  • Other applications

Global Ocular Implants Market by End Use:

  • Hospitals
  • Specialty eye institutes
  • Clinics

Global Ocular Implants Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

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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