3D Printed Medical Devices Market – Insights

3D printing, also referred as additive manufacturing, is used to manufacture several medical devices in the healthcare sector such as orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics.

The global 3D printed medical devices market is estimated to account for US$ 1,737.5 Mn in terms of value by the end of 2027.

Global 3D Printed Medical Devices Market: Drivers

High prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, bone-dental diseases, and peripheral vascular disease is expected to boost growth of the global 3D printed medical devices market. For instance, in April 2018, researchers at Sri Ramachandra University, India, reported 42.3% prevalence of periodontal disease in southern India.

Moreover, increasing number of accidents is also expected to aid in growth of the market. For instance, according to 2018 Fatal Motor Vehicle Crashes: Overview by National Highway Traffic Safety Administration, a U.S. federal agency, 10,511 deaths were registered in the U.S. in 2018.

North America region held dominant position in the global 3D printed medical devices market in 2019, accounting for 46.0% share in terms of volume, followed by Europe.

Figure 1. Global 3D Printed Medical Devices Market Value (US$ Mn), by Region, 2019

3D Printed Medical Devices  | Coherent Market Insights

Global 3D Printed Medical Devices Market: Restraints

Less number of materials are suitable for 3D printing of medical devices, which is expected to hinder growth of the market. Materials used for 3D printing include, resins, plastics, and a few metals.

Moreover, the small size of 3D printers limits the size of the end product, which may not be feasible for production of parts of large industrial machines. This in turn is expected to hamper growth of the market.

Global 3D Printed Medical Devices Market: Opportunities

Increasing R&D in biocompatible materials and devices is expected to offer lucrative growth opportunities for players in the global 3D printed medical devices market. For instance, in February 2019, researchers from Simon Fraser University reported development of eco?friendly 3D?printed disposable sensor devices with smart 3D form factor using biocompatible cellulose composites.

Increasing adoption of bio-printed animal and human cells in drug testing is also expected to aid in growth of the market. For instance, India-based Next Big Innovation Lab uses 3D bioprinting for developing animal and human cells for testing cosmetics and drugs.

3D Printed Medical Devices  | Coherent Market Insights

PolyJet / InkJet 3D Printing segment in the global 3D printed medical devices market was valued at US$ 89.3 Mn in 2019 and is expected to reach US$ 348.1 Mn by 2027 at a CAGR of 18.4% during the forecast period.

Market Trends/Key Takeaways

Major players in the market are focused on developing porous 3D printed PEEK porous medical implants. For instance, in January 2020, FossiLabs, LLC, a US-based medical 3D printing start-up, launched its FFF 3D printed bone-like scaffolding structures using a porous PEEK material.

The market is also witnessing collaboration and partnership activities among players. For instance, in June 2019, PrinterPrezz, the U.S.-based medical 3D printing service bureau, partnered with UCSF Surgical Innovations to develop new 3d printed medical devices.

Regulations

North America

  • Under U.S. FDA,
    • Center for Devices and Radiological Health (CDRH) regulates 3D printed medical devices
    • Center for Biologics Evaluation and Research regulates 3D printing in biologic applications
    • Center for Drug Evaluation and Research regulates 3D printing in drug development applications
  • In May 2016, the U.S. FDA noted Design and Manufacturing Considerations and Device Testing Considerations as two broad areas for addressing quality-related issues, verification and validation of pre-marketing approvals for 3D devices
  • The U.S. FDA has emphasized the importance of assessment of material control, 3D printer, and post-printing processes for successfully evaluating device performance
  • According to the U.S. FDA, mechanical testing for 3D printed devices should take into account a device's build orientation relative to the 3D printer
  • The U.S. FDA approves majority of devices in 3D printing technology as Class II

Value Chain Analysis (Description or image)

3D Printed Medical Devices  | Coherent Market Insights

Global 3D Printed Medical Devices Market: Competitive Landscape

Major players operating in the global 3D printed medical devices market include, 3D Systems, Inc., Arcam AB, Stratasys Ltd., FabRx Ltd., EOS GmbH Electro Optical Systems, EnvisionTEC, Cyfuse Biomedical K.K., Bio3D Technologies, PrinterPrezz, Carima, Nexxt Spine, and Aurora Labs.

Global 3D Printed Medical Devices Market: Key Developments

Key players in the market are focused on expanding their capabilities to enhance their market share. For instance, in April 2019, Nexxt Spine, the U.S.-based medical device manufacturer, expanded its metal 3D printing capabilities with the installation of two Concept Laser Mlab 100R systems from GE Additive.

Key players in the market are focused on product development to expand their product portfolio. For instance, in February 2019, Aurora Labs, the Australia-based metal 3D printer manufacturer, partnered with the University of Western Australia (UWA) and Royal Perth Hospital (RPH) to develop designs, specifications, and parameters for the 3D printing of titanium medical implants.

3D printing technology is used to manufacture medical devices in the healthcare sector such as orthopedic and cranial implants, surgical instruments, dental restorations such as crowns, and external prosthetics. The manufacturing process constitutes of multiple steps depending upon the type of medical devices required. 3 D printed medical devices can be customized depending on patient requirements. Increasing prevalence of periodontitis, diabetes-related gangrene, osteoarthritis, bone-dental diseases, and peripheral vascular diseases in developed and developing economies is expected to boost growth of the global 3D printed medical devices market.

Key features of the study:

  • This report provides in-depth analysis of the global 3D printed Medical Devices and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global 3D printed Medical Devices based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies, and future plans
  • Key companies covered as a part of this study include 3D Systems, Inc., Arcam AB, Stratasys Ltd., FabRx Ltd., EOS GmbH Electro Optical Systems, EnvisionTEC, Cyfuse Biomedical K.K., Bio3D Technologies, PrinterPrezz, Carima, Nexxt Spine, and Aurora Labs.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global 3D printed Medical Devices report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  •  3D Printed Medical Devices Market, By Application Type:
    • Orthopedic Implants
    • Dental Implants
    • Cranio-maxillofacial Implants
    • Internal and External Prostheses
  • 3D Printed Medical Devices Market, By Technology:
    • Stereo Lithography (SLA) – Liquid Based 3D Printing
    • Selective Layer Sintering (SLS) – Powder Based 3D Printing
    • Digital Light Processing(DLP)
    • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
    • PolyJet / InkJet 3D Printing
    • Electronic Beam Melting (EBM)
  • 3D Printed Medical Devices Market, By Material:
    • Plastics
      • Thermoplastics
      • Photopolymers
    • Biomaterial Inks
      • Polymers
      • Ceramics
      • Hydrogels
    • Metals and Alloys
  • 3D Printed Medical Devices Market, By End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
  • 3D Printed Medical Devices Market, By Region:
    • North America
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Application Type:
        • Orthopedic Implants
        • Dental Implants
        • Cranio-maxillofacial Implants
        • Internal and External Prostheses
      • By Technology
        • Stereolithography (SLA) – Liquid Based 3D Printing
        • Selective Layer Sintering (SLS) – Powder Based 3D Printing
        • Digital Light Processing(DLP)
        • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
        • PolyJet / InkJet 3D Printing
        • Electronic Beam Melting (EBM)
      • By Material
        • Plastics
          • Thermoplastics
          • Photopolymers
        • Biomaterial Inks
          • Polymers
          • Ceramics
          • Hydrogels
        • Metals and Alloys
      • By End User
        •  Hospitals
        • Ambulatory Surgical Centers
        • Diagnostic Centers
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • 3D Systems, Inc.*
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Arcam AB
    • Stratasys Ltd.
    • FabRx Ltd.
    • EOS GmbH Electro Optical Systems
    • EnvisionTEC
    • Cyfuse Biomedical K.K.
    • Bio3D Technologies
    • PrinterPrezz
    • Carima
    • Nexxt Spine
    • Aurora Labs

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Technology
      • Market Snippet, By Material
      • Market Snippet, By End User
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global 3D Printed medical Devices Market, By Application, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Orthopedic Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Dental Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Cranio-maxillofacial Implants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Internal and External Prostheses
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  5. Global 3D Printed medical Devices Market, By Technology, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Stereo Lithography (SLA) – Liquid Based 3D Printing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Digital Light Processing(DLP)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Fused Deposition Modeling (FDM): Plastic Filament Extrusion Based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • PolyJet / InkJet 3D Printing
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
    • Electronic Beam Melting (EBM)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
  6. Global 3D Printed medical Devices Market, By Material, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Plastic
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Thermoplastics
        • Photopolymers
    • Biomaterial Inks
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
        • Polymers
        • Ceramics
        • Hydrogels
    • Metals and Alloys
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  7. Global 3D Printed medical Devices Market, By End User 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
    • Diagnostic Centers
      • Introduction
      • Market Size, Volume and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
  8. Global Electronic Medical Records Market, By Region, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2026
    • North America
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of APAC
    • Middle East
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Application, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Technology, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Material, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
      • Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  9. Competitive Landscape
    • Company Profiles
      • 3D Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Arcam AB
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Arcam AB
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Stratasys Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • FabRx Ltd.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • EOS GmbH Electro Optical Systems
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • EnvisionTEC
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Cyfuse Biomedical K.K.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Bio3D Technologies
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • PrinterPrezz
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Carima
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Nexxt Spine
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Aurora Labs
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 37 market data tables and 25 figures on “3D Printed medical Devices – Global forecast to 2027.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users