Toys Market

Toys Market Size by Product Type (Outdoor and Sports Toys, Dolls, Preschool Toys, Games and Puzzles, Building and Construction Set and Others), Age Group (0 to 3 Years, 3 to 10 Years, 10 to 15 Years, and Above 15 Years), Sales Channel [Online and Offline (Specialty Stores, Supermarkets and Hypermarkets, Departmental Stores and Others)], Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12693
  • Published Date: Jan, 2024
  • Pages: 238
  • Category: Consumer Goods
  • Format: PDF
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The global toys market was valued at USD 182.11 Billion in 2022 and grew at a CAGR of 7.66% from 2023 to 2032. The market is expected to reach USD 380.95 Billion by 2032. The demand for toys is increasing among preschool, outdoor and sports activities. Millennials also prefer to use recreational games in social gatherings, which positively impacts the market. 

Market Introduction:

A toy is an item mostly used for amusement, especially for kids. Many types of toys are available today, some of which include board games, dolls, and toy blocks. Toys can encourage physical activity, cultural awareness, and mental stimulation, among other useful effects. Items intended for play can also be utilized as playthings, particularly if their intended use is no longer necessary. A fun method to prepare young children for life experiences is through toy play. Toys are made from various materials, including plastic, clay, paper, and wood. Smart toys and interactive digital entertainment are examples of more recent toy types. Certain toys are made mainly for collectors and are meant to be shown alone. With the Enlightenment and its subsequent shift in Western attitudes towards childhood and children, toys became more widely available in the commercial market.

Toys Market Size

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Market Dynamics:

Drivers

Increasing use of toys in preschools: Preschool toys are crucial because they help young children learn a variety of abilities. For instance, these toys can support the development of physical abilities like fine and gross motor skills and cognitive abilities like critical thinking and problem-solving. Additionally, they can support the development of social and emotional skills, including empathy and communication. Toys for preschoolers allow kids to play inventively and creatively, which is important for their learning and development. In general, toys are essential for preschoolers' learning and development. A child can practise many roles and emotions and learn about the world through toys. Additionally, toys can aid in children's understanding of bigger concepts. There's a lot of opportunity for toys to help kids grasp bigger ideas.

Restraints:

Comprising of user data: The emergence of digital games has significantly affected the sales of toys. The demand for toys has drastically reduced after the rise in sales of smartphones, gaming devices, gaming PCs, etc. Consumers are hugely influenced by social media and digital endorsements, which promote digital games. Also, various features are infused in online games, such as enhanced vision, sound quality, etc. Therefore, these factors are hindering the market growth.

Opportunities:

Digital marketing and growing sales on e-commerce platforms: There are more e-commerce websites than ever, and there has been a greater need for online shopping in the last ten years. The proliferation of e-commerce websites can be attributed to increased internet penetration and accessibility. The bulk of items are now more frequently purchased online by consumers because of the increasing use of smartphones. Due to the rising per capita income, the US, UK, Germany, France, China, Japan, South Korea, and other countries have the highest growth rates. Technological developments in online marketing have greatly improved people's quality of life worldwide. Many toy company marketers employ fresh web campaigns and use social media marketing techniques to draw in new clients and keep existing ones interested. The media and entertainment sector is vast and has distinct verticals or divisions. Digitization, the globalization of services, rising internet usage, reasonably priced internet data plans, and the availability of many platforms have all changed this industry in recent years.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia-Pacific emerged as the most significant toy market, with a 40.12% market revenue share in 2022.

Asia Pacific region will account for the largest market share with revenue growth. Nations such as India, China and Japan have a tremendous demand for toys due to the growing production of specialized and interactive toys. Further, with rising disposable income, consumers are spending more on entertainment. Many organizations are advertising their products through online sales channels as smartphone users have increased.

North American region Toys Market Share in 2022 - 40.12%

 

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Product Type Segment Analysis

The product type segment is divided into outdoor and sports toys, dolls, preschool toys, games and puzzles, building and construction sets and others. The outdoor and sports toys segment dominated the market, with a share of around 38.11% in 2022. Outdoor and sports toys directly impact a child's weight, immune system, and physical strength. Children who are physically active during their early years are typically more inclined to exercise regularly as adults. Kids who play outside can acquire more advanced motor abilities, such as balance, agility, and coordination.

Age Group Segment Analysis

The age group segment is divided into 0 to 3 years, 3 to 10 years, 10 to 15 years, and above 15 years. The 3 to 10-year segment dominated the market, with a share of around 42.91% in 2022. Several preschools and schools provide recreational activities for their students, which can help them in their overall development. There is increasing popularity of several educational games among this age group.

Distribution Channel Segment Analysis

The distribution channel segment is divided into online and offline. The offline segment further includes speciality stores, supermarkets and hypermarkets, departmental stores and others. The offline segment dominated the market, with a share of around 67.22% in 2022. Consumers prefer to visit offline stores to purchase a toy as it helps them physically check the product. There are also several departmental stores nowadays, which is driving the sales of the offline segment.

Some of the Key Market Players:
  • Dream International Ltd.
  • The LEGO Group
  • VTech Holdings Ltd.
  • Sanrio Company, Ltd.
  • JAKKS Pacific, Inc.
  • Playmates Toys Ltd.
  • Mattel, Inc.
  • Konami Holdings Corp.
  • Hasbro
  • Bandai Namco Holdings Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 182.11 Billion
Market size value in 2032 USD 380.95 Billion
CAGR (2023 to 2032) 7.66%
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 Product Type, Age Group and Distribution Channel

Frequesntly Asked Questions

As per The Brainy Insights, the size of the toys market was valued USD 182.11 billion in 2022 to USD 380.95 billion by 2032.

Global toys market is growing at a CAGR of 7.66% during the forecast period 2023-2032.

Asia-Pacific region emerged as the largest market for the toys.

The market's growth will be influenced by the rising usage of toys in pre-schools.

The increasing preference for online games can hamper the market growth.

The rising disposable income is providing lucrative opportunities to the market.

Key players are Dream International Ltd., The LEGO Group, VTech Holdings Ltd., Sanrio Company, Ltd., JAKKS Pacific, Inc., Playmates Toys Ltd., Mattel, Inc., Konami Holdings Corp., Hasbro, Bandai Namco Holdings Inc. 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 Product Type
          4.3.2. Market Attractiveness Analysis by Age Group
          4.3.3. Market Attractiveness Analysis by Distribution Channel
          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. Increasing use of toys in pre-schools
    5.3. Restraints
          5.3.1. Growing preference for online games
    5.4. Opportunities
          5.4.1. Increasing disposable income
    5.5. Challenges
          5.5.1. Harmful effects of plastic toys on environment

6. Global Ethyl Acetate Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Outdoor and Sports Toys
    6.3. Dolls
    6.4. Preschool Toys
    6.5. Games and Puzzles
    6.6. Building and Construction Set
    6.7. Others

7. Global Ethyl Acetate Market Analysis and Forecast, By Age Group
    7.1. Segment Overview
    7.2. 0 to 3 Years
    7.3. 3 to 10 Years
    7.4. 10 to 15 Years
    7.5. Above 15 Years

8. Global Ethyl Acetate Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Online
    8.3. Offline
          8.3.1. Specialty Stores
          8.3.2. Supermarkets and Hypermarkets
          8.3.3. Departmental Stores
          8.3.4. Others

9. Global Ethyl Acetate 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 Ethyl Acetate Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Ethyl Acetate 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. Dream International Ltd.
          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. The LEGO Group
          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. VTech Holdings Ltd.
          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. Sanrio Company, Ltd.
          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. JAKKS Pacific, 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. Playmates Toys Ltd.
          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. Mattel, Inc.
          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. Konami Holdings Corp.
          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. Hasbro
          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. Bandai Namco Holdings 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
 

List of Table

1. Global Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

2. Global Outdoor and Sports Toys, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

3. Global Dolls, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

4. Global Preschool Toys, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

5. Global Games and Puzzles, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

6. Global Building and Construction Set, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

7. Global Others, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

8. Global Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

9. Global 0 to 3 Years, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

10. Global 3 to 10 Years, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

11. Global 10 to 15 Years, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

12. Global Above 15 Years, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

13. Global Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

14. Global Online, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

15. Global Offline, Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

16. Global Ethyl Acetate Market, By Region, 2019-2032 (USD Billion) 

17. North America Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

18. North America Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

19. North America Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

20. U.S. Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

21. U.S. Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

22. U.S. Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

23. Canada Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

24. Canada Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

25. Canada Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

26. Mexico Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

27. Mexico Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

28. Mexico Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

29. Europe Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

30. Europe Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

31. Europe Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

32. Germany Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

33. Germany Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

34. Germany Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

35. France Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

36. France Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

37. France Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

38. U.K. Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

39. U.K. Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

40. U.K. Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

41. Italy Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

42. Italy Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

43. Italy Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

44. Spain Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

45. Spain Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

46. Spain Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

47. Asia Pacific Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

48. Asia Pacific Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

49. Asia Pacific Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

50. Japan Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

51. Japan Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

52. Japan Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion)

53. China Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

54. China Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

55. China Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

56. India Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

57. India Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

58. India Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

59. South America Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

60. South America Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

61. South America Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

62. Brazil Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

63. Brazil Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

64. Brazil Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

65. Middle East and Africa Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

66. Middle East and Africa Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

67. Middle East and Africa Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

68. UAE Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

69. UAE Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

70. UAE Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

71. South Africa Ethyl Acetate Market, By Product Type, 2019-2032 (USD Billion) 

72. South Africa Ethyl Acetate Market, By Age Group , 2019-2032 (USD Billion) 

73. South Africa Ethyl Acetate Market, By Distribution Channel, 2019-2032 (USD Billion) 

List of Figures

1. Global Ethyl Acetate Market Segmentation

2. Ethyl Acetate 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 Ethyl Acetate Market Attractiveness Analysis by Product Type

9. Global Ethyl Acetate Market Attractiveness Analysis by Age Group 

10. Global Ethyl Acetate Market Attractiveness Analysis by Distribution Channel

11. Global Ethyl Acetate Market Attractiveness Analysis by Region

12. Global Ethyl Acetate Market: Dynamics

13. Global Ethyl Acetate Market Share by Product Type (2022 & 2032)

14. Global Ethyl Acetate Market Share by Age Group  (2022 & 2032)

15. Global Ethyl Acetate Market Share by Distribution Channel (2022 & 2032)

16. Global Ethyl Acetate Market Share by Regions (2022 & 2032)

17. Global Ethyl Acetate Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global toys market based on below mentioned segments:

Global Toys Market by Product Type:

  • Outdoor and Sports Toys
  • Dolls
  • Preschool Toys
  • Games and Puzzles
  • Building and Construction Set  
  • Others

Global Toys Market by Age Group:

  • 0 to 3 Years
  • 3 to 10 Years
  • 10 to 15 Years
  • Above 15 Years

Global Toys Market by Distribution Channel:

  • Online
  • Offline
    • Specialty Stores
    • Supermarkets and Hypermarkets
    • Departmental Stores
    • Others

Global Toys 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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