Pharmaceutical Packaging Equipment Market

Pharmaceutical Packaging Equipment Market Size by Equipment Type (Solids Packaging Equipment, Semi-Solid Packaging, Liquid Packaging Equipment), Packaging Type (Primary Packaging, Secondary Packaging, Tertiary Packaging), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12561
  • Published Date: Jul, 2024
  • Pages: 238
  • Category: Healthcare
  • Format: PDF
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The global pharmaceutical packaging equipment market is projected to reach USD 20.61 billion by 2033, at a CAGR of 7.80% during the forecast period 2024-2033. Increasing production of semi-solid formulations is one of the factor driving the growth of market.  The rise in counterfeiting cases is also driving market growth and ensuring the integrity of the product. Also, the rise in the adoption of automation is driving the market growth. This equipment enhances the packaging process's accuracy, safety, and efficiency. Also, these equipment are enabled with the latest security features, which provides an extra level of security for the products.

Market Overview:

Pharmaceutical packaging equipment provides an efficient solution for preparing pharmaceuticals, drugs and nutraceuticals for distribution. The packaging for the pharmaceuticals is very important mainly for the safe storage and administration of pharmaceutical products. There are various types of packaging for the pharmaceuticals, including primary, secondary, and tertiary. Primary packaging is the packaging type which surrounds the pharmaceutical products. Secondary and tertiary packaging provides additional protection to pharmaceutical products. The most common type of primary pharmaceutical packaging includes bottles, vials, sachets, blisters, and syringes.

Pharmaceutical packaging equipment is the machines that are used for the packaging of pharmaceutical products. These machines are ranging from conveying systems to sealing machines to labelling and printing machines. In addition to this, various types of other equipment are used for pharmaceutical packaging. Some of the newest pharmaceutical packaging equipment includes label applicators, sealers, hand packing stations, and case packers. The use of equipment generally depends on the type of packaging, such as solid, semi-solid, and liquid packaging. The packaging of solid and liquid packaging of over the counter drugs is often designed as a marketing vehicle to increase product stability. Pharmaceutical filling machines are essential for the filling up the powder and liquid in the packaging of such as bottle, vials and tubes. The pharmaceutical packaging equipment offers a high-quality standard, fast, and efficient packaging in the pharmaceutical industry. Changing consumer behavior is one of the key factors which is positively influencing the growth of the market.  These packaging equipment works very fast, which helps the manufacturers increase the speed of the packaging line and gives enough time to deliver the product to its destination in the given time.

Pharmaceutical Packaging Equipment Market Size

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Market Dynamics:

Drivers
  • Increasing demand for pharmaceutical packaging equipment for generic medicines

Increasing demand for pharmaceutical products due to rise in spending on healthcare across the globe. In addition to this, increasing geriatric population and chronic diseases in the world, rising the demand for pharmaceutical products. A large number of original drugs have lost their patents. Thus, the production of generic medicines is on the rise. Furthermore, the generic medicines are affordable than the original drugs, and thus demand is high in the regions such as the Asia Pacific and Latin America.

  • Growth in the contract manufacturing of pharmaceutical products

Contract manufacturing involves the manufacturing of pharmaceutical products by a firm, under the label or a brand of another firm. Contract manufacturing is holding the largest market share in the global pharmaceutical industry. One of the main reason is the high cost of pharmaceutical manufacturing equipment, which cannot afford by every company. Thus, increasing contract manufacturing of pharmaceutical products driving the growth of the market. 

Restraints:
  • Increasing preference for the refurbished products

Refurbished pharmaceutical equipment is one of the most viable alternatives for the new equipment. These are the low-cost equipment as compared to the new pharmaceutical packaging equipment. Thus, many companies preferring for the refurbished equipment for pharmaceutical packaging, which may limit the growth of the market.

Opportunities:
  •  Emerging technologies for automated packaging of pharmaceutical products

Many pharmaceutical companies are opting for automation strategies to increase efficiency in pharmaceutical packaging. According to the Association for Packaging and Processing Technologies, almost 50% of pharmaceutical companies have adopted the automation integration in the packaging. The growth in the small-batch pharmaceuticals and unit dose packaging further driving the demand for the automation technologies in the packaging. Thus, increasing emergence of automation technologies in the pharmaceutical packaging offering the new growth opportunities in the market.

Challenges:
  • Increasing stringent government regulations

Increasing and constantly changing government rules and regulation on pharmaceutical packaging is one of the key challenges for the companies. Globally, pharma regulations on the packaging are becoming stringent, for which pharma companies need to keep them updated themselves regularly. Thus, rising stringent government regulation on the pharmaceutical packaging may hamper the growth of the market over the forecast period.

Segmentation Analysis:

The global pharmaceutical packaging equipment market has been classified on the basis of equipment type, packaging type, and regions.

  • The equipment type segment is divided into solid packaging equipment, semi-solid packaging equipment, and liquid packaging equipment. The liquid packaging equipment segment accounted for the major market share of 49.65% in the year 2023. The growth is mainly due to the high production of liquid pharmaceutical products in various regions. In addition to this, increasing eye and ear disorders across the globe, further driving the demand for more to eat and ear drops. 
  • The packaging type segment is classified into primary packaging, secondary packaging, tertiary packaging, and labelling and serialization equipment. Primary packaging segment dominated the global pharmaceutical packaging equipment market and held the market share of 60.25% in the year 2023. Primary packaging refers to the first material that envelops the products. Increasing demand for easy handling and shelving of the pharmaceutical products driving the growth of primary packaging segment.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Europe region emerged as the largest market for the pharmaceutical packaging equipment market, with 40.69% share of the market revenue in 2023.

  • The growth is mainly due to the high production of pharmaceutical products in the European region. In addition to this, increasing demand for flexible equipment from the pharmaceutical companies, further driving the growth of the market. In addition to this, Europe is one of the significant exporters of medicinal products, which is boosting the demand for additional packaging equipment for pharmaceuticals.
  • The Asia Pacific region is anticipated to rise at the highest CAGR of 7.1% over the forecast period. The rapid increase in pharmaceutical companies in the Asia Pacific region is one of the key growth factors driving the growth of the market. In addition to this, high production of generic pharmaceutical products in India, further driving the demand for pharmaceutical packaging equipment in the Asia Pacific region.

Europe Pharmaceutical packaging equipment Market Share in 2023 - 40.69%

 

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Competitive Analysis:

The key players of global pharmaceutical packaging equipment market are majorly focusing on adoption of various strategies such as new product development, joint venture, collaboration, technological integration, product innovations, mergers & acquisitions, and partnerships to gain the significant market share in the industry.

In August 2017, Uhlmann announced the partnership with the Surepharm Services, a specialist in the contract manufacturing of generic and branded formulations, to install the Uhlmann’s BEC 300, a combined blister and cartoning module, to streamline the productivity.

In June 2018, The Marchesini Group announced the acquisition of Schmucker, a company that specialises in building stickpack packaging machinery for the food, pharmaceutical and cosmetic market, to expand the pharmaceutical packaging business.

List of Key Market Players:
  • Romaco Holding
  • Uhlmann Group
  • Bausch + Ströbel
  • Korber AG
  • Marchesini Group
  • Vanguard Pharmaceuticals Equipment
  • I.M.A. Industria Macchine Automatiche S.p.A.
  • Accutek Packaging Equipment Companies
  • Coesia
Key Target Audience
  • Pharmaceutical Companies 
  • Government Authorities
  • R&D Institutions
  • Food and Drug Administration (FDA)
  • Equipment Manufacturers
  • Consulting And Research Firm
  • Potential Investors
Report Description:
  • Global Pharmaceutical Packaging Equipment Market, Industry Analysis, Trends, Analysis and Forecast, 2024 to 2033 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2023 is considered as the base year of the report. 2020 to 2022 are considered as the historic years and 2024 to 2033 are the forecast years. The global pharmaceutical packaging equipment market is based on revenue (USD Million/Billion), volume (Units), and price. The report incorporates the market study on the basis of revenue and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global pharmaceutical packaging equipment 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 all across the globe. The research report also delivers an outline of the attractiveness of pharmaceutical packaging equipment and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to 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 pharmaceutical packaging equipment market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global pharmaceutical packaging equipment 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 so as 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 in order 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 products (market related i.e., global Pharmaceutical packaging equipment market is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the pharmaceutical packaging equipment market was valued at USD 9.72 billion in 2023 and is anticipated to reach USD 20.61 billion by 2033.

Global pharmaceutical packaging equipment market is growing at a CAGR of 7.80% during the forecast period 2024-2033.

The global pharmaceutical packaging equipment market has been segmented based on equipment type, packaging type, and regions. The liquid packaging equipment segment accounted for the major market share in the year 2023.

The Europe region emerged as the largest market for the pharmaceutical packaging equipment.

Increasing production of generic pharmaceutical products is the significant driving factor for the growth of market.

High prices of pharmaceutical packaging equipment may hamper the growth of the market over the forecast period.

Technological advancement in the pharmaceutical packaging equipment is expected to offer the future growth opportunity in the market.

Key players are Romaco Holding, Uhlmann Group, Bausch + Ströbel, Korber AG , Marchesini Group, Vanguard Pharmaceuticals Equipment, I.M.A. Industria Macchine Automatiche S.p.A., Accutek Packaging Equipment Companies, and Coesia among others.

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 Equipment Type
          4.3.2. Market Attractiveness Analysis By Packaging Type
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for pharmaceutical packaging equipment for generic medicines
          5.2.2. Growth in the contract manufacturing of pharmaceutical products
    5.3. Restrains
          5.3.1. Increasing preference for the refurbished products
    5.4. Opportunities
          5.4.1. Emerging technologies for automated packaging of pharmaceutical products
    5.5. Challenges
          5.5.1. Increasing stringent government regulation

6. Global Pharmaceutical Packaging Equipment Market Analysis and Forecast, By Equipment Type
    6.1. Segment Overview
    6.2. Semi-solids packaging equipment
          6.2.1. Ointment Packaging Equipment
          6.2.2. Cream Packaging Equipment
    6.3. Solids Packaging Equipment
          6.3.1. Capsule Packaging Equipment
          6.3.2. Tablet Packaging Equipment
          6.3.3. Powder Packaging Equipment
    6.4. Liquids Packaging Equipment
          6.4.1. Aerosol Packaging Equipment
          6.4.2. Ear/ Eye Drop Packaging Equipment
          6.4.3. Syrup Packaging Equipment

7. Global Pharmaceutical Packaging Equipment Market Analysis and Forecast, By Packaging Type
    7.1. Segment Overview
    7.2. Primary Packaging
    7.3. Secondary Packaging
    7.4. Tertiary Packaging

8. Global Pharmaceutical Packaging Equipment 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
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Pharmaceutical Packaging Equipment Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Pharmaceutical Packaging Equipment 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. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Romaco Holding
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Uhlmann Group
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Bausch + Ströbel
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Korber AG
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Marchesini Group
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Vanguard Pharmaceuticals Equipment
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. I.M.A. Industria Macchine Automatiche S.p.A.
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Accutek Packaging Equipment Companies
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Coesia
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis

List of Table

1. Global Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

2. Global Solid Packaging Equipment, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

3. Global Semi solid Packaging Equipment, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

4. Global Liquid Packaging Equipment, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

5. Global Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

6. Global Primary Packaging, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

7. Global Secondary Packaging, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

8. Global Tertiary Packaging, Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

9. Global Pharmaceutical Packaging Equipment Market, By Region, 2020–2033 (USD Billion) (Units)

10. North America Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

11. North America Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

12. U.S. Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

13. U.S. Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

14. Canada Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

15. Canada Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

16. Mexico Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

17. Mexico Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

18. Europe Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

19. Europe Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

20. Germany Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

21. Germany Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

22. France Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

23. France Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

24. U.K. Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

25. U.K. Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

26. Italy Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

27. Italy Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

28. Spain Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

29. Spain Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

30. Asia Pacific Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

31. Asia Pacific Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

32. Japan Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

33. Japan Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

34. China Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

35. China Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

36. India Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

37. India Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

38. South America Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

39. South America Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

40. Brazil Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

41. Brazil Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

42. Middle East and Africa Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

43. Middle East and Africa Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

44. UAE Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

45. UAE Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

46. South Africa Pharmaceutical Packaging Equipment Market, By Equipment Type, 2020–2033 (USD Billion) (Units)

47. South Africa Pharmaceutical Packaging Equipment Market, By Packaging Type, 2020–2033 (USD Billion) (Units)

List of Figures 

1. Global Pharmaceutical Packaging Equipment Market Segmentation

2. Pharmaceutical Packaging Equipment 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 Pharmaceutical Packaging Equipment Market Attractiveness Analysis By Equipment Type

9. Global Pharmaceutical Packaging Equipment Market Attractiveness Analysis By Packaging Type

10. Global Pharmaceutical Packaging Equipment Market Attractiveness Analysis By Region

11. Global Pharmaceutical Packaging Equipment Market: Dynamics

12. Global Pharmaceutical Packaging Equipment Market Share By Equipment Type (2023 & 2033)

13. Global Pharmaceutical Packaging Equipment Market Share By Packaging Type (2023 & 2033)

14. Global Pharmaceutical Packaging Equipment Market Share by Regions (2023 & 2033)

15. Global Pharmaceutical Packaging Equipment Market Share by Company (2023)

This study forecasts revenue and volume growth at global, regional, and country levels from 2017 to 2027. The Brainy Insights has segmented the global pharmaceutical packaging equipment market on the basis of below mentioned segments:

Global Pharmaceutical Packaging Equipment Market by Equipment Type:

  • Semi-solids packaging equipment
    • Ointment Packaging Equipment
    • Cream Packaging Equipment
  • Solids Packaging Equipment
    • Capsule Packaging Equipment
    • Tablet Packaging Equipment
    • Powder Packaging Equipment
  • Liquids Packaging Equipment
    • Aerosol Packaging Equipment
    • Ear/ Eye Drop Packaging Equipment
    • Syrup Packaging Equipment

Global Pharmaceutical Packaging Equipment Market by Packaging Type:

  • Primary Packaging
  • Secondary Packaging
  • Tertiary Packaging

Global Pharmaceutical Packaging Equipment 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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