Orthobiologics Market

Orthobiologics Market Size by Application (Trauma Repair, Spinal Fusion, Maxillofacial and Dental Applications, Osteoarthritis and Degenerative Arthritis, Soft Tissue Injuries, and Reconstructive Surgery), Product (Bone Morphogenetic Protein (BMP), Demineralized Bone Matrix (DBM), Viscosupplementation, Allograft, Stem Cell Therapy, Synthetic Bone Substitutes, and Others), End-User (Orthopedic Clinics, Research and Academic Institutes, Ambulatory Care Centers, Hospitals, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13626
  • Published Date: Aug, 2023
  • Pages: 231
  • Category: Healthcare
  • Format: PDF
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The global orthobiologics market was valued at USD 6.62 billion in 2022, growing at a CAGR of 5.94% from 2023 to 2032. The market is expected to reach USD 11.79 billion by 2032. The rising participation of individuals in physical and sports activities, along with the rise in the prevalence of sports injuries and road accidents, are expected to propel market growth. 

Market Introduction:

Orthobiology, additionally known as regenerative medication, is a swiftly growing area that offers new methods to deal with acute orthopaedic injuries and chronic or degenerative sicknesses without surgical treatment. It's miles one in every of many promising remedies for joint, muscle and gentle tissue accidents. Orthobiological materials are used by orthopedists to hurry up the restoration of wounds. They're used to enhance the restoration of damaged bones and injured muscle mass, ligaments, and tendons. Some usually used orthobiologic treatments consist of platelet-rich plasma (PRP), autologous conditioned plasma (ACP), stem cells, and bone marrow aspirate concentrate (BMAC). Orthobiology is a subset of regenerative medicine that specializes in the usage of obviously occurring organic agents and their capacity to achieve beneficial clinical effects in musculoskeletal sicknesses.

Orthobiologics Market Size

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Recent Development
  • Launching in March 2022, SeaSpine introduced the Flash navigation lumbar facet fusion and NorthStar cervical facet fusion orthobiologic systems. These systems are designed to enhance the procedural workflow and increase fusion space by utilizing OsteoStrand DBM fibres located within the facet joint.
  • For example, in February 2021, DePuy Synthes, an orthopaedics and neurosurgery company that is part of the Johnson & Johnson Medical Devices Group, and Expanding Innovations Inc. Lumbar cage system. DePuy Synthes said the product provides a complete surgical solution for the degenerative lumbar spine and minimally invasive parts of the spine.

Market Dynamics:

Drivers

The increasing prevalence of chronic diseases and trauma emergencies: The increasing prevalence of chronic illnesses, such as chronic care management solutions such as Asthma and heart disease, is the driving factor of the market growth. Further, the rising geriatric population and raised awareness about orthobiologics are also propelling factors of the market growth. Moreover, the increased investment in research & development and progressive technological innovations by the major market participants are helping to boost market growth. Additionally, the mounting demand for innovative IT services & solutions that promote the efficient delivery of value-based medical care is propelling market growth. Furthermore, the large-scale budgets allocated for healthcare, in addition to the surging need for progressive value-based healthcare and disease management across numerous healthcare settings, are also helping to stimulate market growth.

Restraints:

The high costs & inadequate reimbursements for orthobiologics products and procedures: The high prices & inadequate reimbursements for ortho biologics procedures & products are hindering the market growth. Furthermore, the high cost involved in tissue engineering and regenerative medicine, along with the harmful effects of Bmp-based treatments, are restraining the market growth. 

Opportunities:

The increase in the development of new products: The increase in the development of new products and the rise in strategic initiatives by key market players are the opportunity factor of market growth. Additionally, the increasing popularity of orthobiologics is expected to drive market growth over the forecast period. Furthermore, orthobiologics treatment focuses on utilizing the healing & rejuvenating properties of the body's cells to repair damaged tissues. Some innovative osteoporosis options for the treatment of osteoporosis include adipose stromal stem cells (ADMSC), platelet-rich plasma (PRP), autologous chondrocyte transplantation (ACI), bone marrow concentrate (BMC) and autologous conditioned serum. Thus, these factors are helping to stimulate market growth over the upcoming year. Further, the extensive potential in developing regions and an expansion in demand for advancement in therapy are expected to drive market growth in the forthcoming year. However, technologically advanced product development, strong development potential in developing countries, and raised demand for sophisticated therapy are helping to boost market growth over 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 emerged as the largest global orthobiologics market, with a 44.21% market revenue share in 2022. The rising R&D investments and collaborations by prominent medical device and biotechnology companies are expected to propel market growth in this region. Moreover, an advancement in the treatment and growing physician and patient awareness about innovative treatment procedures and technologies are expected to drive market growth in this region. Additionally, the growing demand for minimally invasive surgeries and increasing awareness about the side effects of oral medications for pain relief are expected to propel the market growth in this region. However, the presence of major participants involved in new product development strategies and reimbursement procedures provided for soft tissue healing is helping to boost the market growth in this region. The Asia Pacific region will account for the largest market share with revenue growth. This growth is attributed to the rising investment in research and development for regenerative medicine. Further, the growing number of cases suffering from osteoarthritis & degenerative arthritis and spinal fusion soft tissue injuries propel the market growth in this region. However, an increase in the occurrence of the majority of the important players, along with the rise in healthcare expenditure and disposable income, are expected to propel the market growth in this region.

North America Region Orthobiologics Market Share in 2022 - 44.21%

 

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Application Segment Analysis

The application segment is divided into trauma repair, spinal fusion, maxillofacial and dental applications, osteoarthritis and degenerative arthritis, soft tissue injuries, and reconstructive surgery. The spinal fusion segment dominated the market, with a share of around 27.16% in 2022. This growth is attributed to the rise in the advancements in surgical procedures and the surge in healthcare expenditure.

Product Segment Analysis

The product segment is divided into bone morphogenetic protein (BMP), demineralized bone matrix (DBM), viscosupplementation, allograft, stem cell therapy, synthetic bone substitutes, and others. The viscosupplementation segment dominated the market, with a share of around 26.14% in 2022. This growth is attributed to the rising number of osteoarthritis, especially hip and knee joints, and the lesser cost of Viscosupplementation products.    

End-User Segment Analysis

The end-user segment is divided into orthopaedic clinics, research and academic institutes, ambulatory care centres, hospitals, and others. The hospital segment dominated the market, with a share of around 28.12% in 2022. This growth is attributed to the increasing adoption of orthobiological products in a wide range of spinal & reconstructive surgeries performed in hospitals. 

Some of the Key Market Players:
  • Medtronic
  • Bone Biologics Corp
  • Pioneer Surgical Technology
  • Bioventus LLC
  • DePuy Synthes, Inc.
  • Stryker Corporation
  • Smith & Nephew plc.
  • Wright Medical Technology
  • Globus Medical
  • Osiris Therapeutics, Inc.
  • Genzyme
  • Anthrex
  • Zimmer Biomet
  • Orthofix, Inc.
  • NuVasive, Inc

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 6.62 Billion
Market size value in 2032 USD 11.79 Billion
CAGR (2023 to 2032) 5.94%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Application, Product, End-User

Frequesntly Asked Questions

North America region emerged as the largest market for orthobiologics.

The market's growth will be influenced by the increasing prevalence of chronic diseases and trauma emergencies.

The increase in the cost of orthobiologics-based treatments could hamper the market growth.

The increase in the development of new products will provide huge opportunities to the market.

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 Application
          4.3.2. Market Attractiveness Analysis By Product
          4.3.3. Market Attractiveness Analysis By End-User
          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. The increasing participation of individuals in sports and physical activities
          5.2.2. The rise in the elderly population
          5.2.3. The increasing popularity of stem cell therapy
          5.2.4. The increasing prevalence of chronic diseases and trauma emergencies
          5.2.5. The growing demand for minimally invasive procedures
    5.3. Restraints
          5.3.1. The high costs and inadequate reimbursements for orthobiologics products and procedures
          5.3.2. The lack of awareness regarding viscosupplementation
    5.4. Opportunities
          5.4.1. The increase in the development of new Products
          5.4.2. The increasing prevalence of orthopedic disorders

6. Global Orthobiologics Market Analysis and Forecast, By Application
    6.1. Segment Overview
    6.2. Trauma Repair
    6.3. Spinal Fusion
    6.4. Maxillofacial and Dental Applications
    6.5. Osteoarthritis and Degenerative Arthritis
    6.6. Soft Tissue Injuries
    6.7. Reconstructive Surgery

7. Global Orthobiologics Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Bone Morphogenetic Protein (BMP)
    7.3. Demineralized Bone Matrix (DBM)
    7.4. Viscosupplementation
    7.5. Allograft
    7.6. Stem Cell Therapy
    7.7. Synthetic Bone Substitutes
    7.8. Others

8. Global Orthobiologics Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Orthopedic Clinics
    8.3. Research and Academic Institutes
    8.4. Ambulatory Care Centers
    8.5. Hospitals
    8.6. Others

9. Global Orthobiologics 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 Orthobiologics Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Orthobiologics 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. Medtronic
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Bone Biologics Corp
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Pioneer Surgical Technology
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Bioventus LLC
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. DePuy Synthes, Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Stryker Corporation
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Smith & Nephew plc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Wright Medical Technology
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Globus Medical
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Osiris Therapeutics, Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Genzyme
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Anthrex
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Zimmer Biomet
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Orthofix, Inc.
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. NuVasive, Inc
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis

List of Table

1. Global Orthobiologics Market, By Application, 2019-2032 (USD Billion)

2. Global Trauma Repair, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

3. Global Spinal Fusion, Orthobiologics Market, By Region, 2019-2032 (USD Billion) 

4. Global Maxillofacial and Dental Applications, Orthobiologics Market, By Region, 2019-2032 (USD Billion) 

5. Global Osteoarthritis and Degenerative Arthritis, Orthobiologics Market, By Region, 2019-2032 (USD Billion) 

6. Global Soft Tissue Injuries, Orthobiologics Market, By Region, 2019-2032 (USD Billion) 

7. Global Reconstructive Surgery, Orthobiologics Market, By Region, 2019-2032 (USD Billion)  

8. Global Orthobiologics Market, By Product, 2019-2032 (USD Billion)

9. Global Bone Morphogenetic Protein (BMP), Orthobiologics Market, By Region, 2019-2032 (USD Billion)

10. Global Demineralized Bone Matrix (DBM), Orthobiologics Market, By Region, 2019-2032 (USD Billion)

11. Global Viscosupplementation, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

12. Global Allograft, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

13. Global Stem Cell Therapy, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

14. Global Synthetic Bone Substitutes, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

15. Global Others, Orthobiologics Market, By Region, 2019-2032 (USD Billion) 

16. Global Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

17. Global Orthopedic Clinics, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

18. Global Research and Academic Institutes, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

19. Global Ambulatory Care Centers, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

20. Global Hospitals, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

21. Global Others, Orthobiologics Market, By Region, 2019-2032 (USD Billion)

22. North America Orthobiologics Market, By Application, 2019-2032 (USD Billion)

23. North America Orthobiologics Market, By Product, 2019-2032 (USD Billion)

24. North America Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

25. U.S. Orthobiologics Market, By Application, 2019-2032 (USD Billion)

26. U.S. Orthobiologics Market, By Product, 2019-2032 (USD Billion)

27. U.S. Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

28. Canada Orthobiologics Market, By Application, 2019-2032 (USD Billion)

29. Canada Orthobiologics Market, By Product, 2019-2032 (USD Billion)

30. Canada Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

31. Mexico Orthobiologics Market, By Application, 2019-2032 (USD Billion)

32. Mexico Orthobiologics Market, By Product, 2019-2032 (USD Billion)

33. Mexico Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

34. Europe Orthobiologics Market, By Application, 2019-2032 (USD Billion)

35. Europe Orthobiologics Market, By Product, 2019-2032 (USD Billion)

36. Europe Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

37. Germany Orthobiologics Market, By Application, 2019-2032 (USD Billion)

38. Germany Orthobiologics Market, By Product, 2019-2032 (USD Billion)

39. Germany Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

40. France Orthobiologics Market, By Application, 2019-2032 (USD Billion)

41. France Orthobiologics Market, By Product, 2019-2032 (USD Billion)

42. France Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

43. U.K. Orthobiologics Market, By Application, 2019-2032 (USD Billion)

44. U.K. Orthobiologics Market, By Product, 2019-2032 (USD Billion)

45. U.K. Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

46. Italy Orthobiologics Market, By Application, 2019-2032 (USD Billion)

47. Italy Orthobiologics Market, By Product, 2019-2032 (USD Billion)

48. Italy Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

49. Spain Orthobiologics Market, By Application, 2019-2032 (USD Billion)

50. Spain Orthobiologics Market, By Product, 2019-2032 (USD Billion)

51. Spain Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

52. Asia Pacific Orthobiologics Market, By Application, 2019-2032 (USD Billion)

53. Asia Pacific Orthobiologics Market, By Product, 2019-2032 (USD Billion)

54. Asia Pacific Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

55. Japan Orthobiologics Market, By Application, 2019-2032 (USD Billion)

56. Japan Orthobiologics Market, By Product, 2019-2032 (USD Billion)

57. Japan Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

58. China Orthobiologics Market, By Application, 2019-2032 (USD Billion)

59. China Orthobiologics Market, By Product, 2019-2032 (USD Billion)

60. China Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

61. India Orthobiologics Market, By Application, 2019-2032 (USD Billion)

62. India Orthobiologics Market, By Product, 2019-2032 (USD Billion)

63. India Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

64. South America Orthobiologics Market, By Application, 2019-2032 (USD Billion)

65. South America Orthobiologics Market, By Product, 2019-2032 (USD Billion)

66. South America Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

67. Brazil Orthobiologics Market, By Application, 2019-2032 (USD Billion)

68. Brazil Orthobiologics Market, By Product, 2019-2032 (USD Billion)

69. Brazil Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

70. Middle East and Africa Orthobiologics Market, By Application, 2019-2032 (USD Billion)

71. Middle East and Africa Orthobiologics Market, By Product, 2019-2032 (USD Billion)

72. Middle East and Africa Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

73. UAE Orthobiologics Market, By Application, 2019-2032 (USD Billion)

74. UAE Orthobiologics Market, By Product, 2019-2032 (USD Billion)

75. UAE Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

76. South Africa Orthobiologics Market, By Application, 2019-2032 (USD Billion)

77. South Africa Orthobiologics Market, By Product, 2019-2032 (USD Billion)

78. South Africa Orthobiologics Market, By End-User, 2019-2032 (USD Billion)

List of Figures 

1. Global Orthobiologics Market Segmentation

2. Global Orthobiologics Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Orthobiologics Market Attractiveness Analysis By Application

9. Global Orthobiologics Market Attractiveness Analysis By Product 

10. Global Orthobiologics Market Attractiveness Analysis By End-User

11. Global Orthobiologics Market Attractiveness Analysis By Region

12. Global Orthobiologics Market: Dynamics

13. Global Orthobiologics Market Share By Application (2023 & 2032)

14. Global Orthobiologics Market Share By Product (2023 & 2032)

15. Global Orthobiologics Market Share By End-User (2023 & 2032)

16. Global Orthobiologics Market Share By Regions (2023 & 2032)

17. Global Orthobiologics Market Share By Company (2022)

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

Global Orthobiologics Market by Application: 

  • Trauma Repair
  • Spinal Fusion
  • Maxillofacial and Dental Applications
  • Osteoarthritis and Degenerative Arthritis
  • Soft Tissue Injuries
  • Reconstructive Surgery

Global Orthobiologics Market by Product:

  • Bone Morphogenetic Protein (BMP)
  • Demineralized Bone Matrix (DBM)
  • Viscosupplementation
  • Allograft
  • Stem Cell Therapy
  • Synthetic Bone Substitutes
  • Others

Global Orthobiologics Market by End-User:

  • Orthopedic Clinics
  • Research and Academic Institutes
  • Ambulatory Care Centers
  • Hospitals
  • Others

Global Orthobiologics 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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