A three-pronged approach was followed for deducing the scaffold technology market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for scaffold technology market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of scaffold technology market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The scaffold technology market was categorized into five segments, namely type (Hydrogels, Polymeric Scaffolds, Micropatterned Surface Microplates, Nanofiber Based Scaffolds ), disease type (Orthopedics, Musculoskeletal, & Spine, Cancer, Skin & Integumentary, Dental, Cardiology & Vascular, Neurology, Urology, GI, Gynecology), application (Stem Cell Therapy, Regenerative Medicine, & Tissue Engineering, Drug Discovery), end-use (Biotechnology & Pharmaceutical Organizations, Research Laboratories & Institutes, Hospitals & Diagnostic Centers), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The scaffold technology market was segmented into type, disease type, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The scaffold technology market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE; Kuwait.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The scaffold technology market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Merck KGaA -Merck KGaA is a German healthcare multinational company that operates through three sectors: Healthcare, Life Sciences, and Performance Materials. It has operations in North America, Europe, Asia Pacific, Latin America, and Africa. Merck Group’s portfolio contains more than 300,000 products, including lab water systems, genome editing tools, antibodies & cell lines, and end-to-end bioprocessing systems.
Sigma Aldrich, Inc. -Sigma Aldrich, Inc. operates through three market-focused business units: research, SAFC commercials, and applied business. It provides around 200,000 products and tools in different categories, including analytical, chromatography, spectroscopy, acid-base titration, inorganic catalysts, chemical synthesis, organometallics, and salts & solvents. Life sciences products include antibiotics, biochemical & reagents, enzymes, inhibitors, and substrates. The company is present in over 37 countries. Its services include basic research, products & process development, manufacturing & production, and regulatory compliance with custom capabilities such as small- and large-molecule manufacturing, drug & process development, and genomic & proteomic solutions.
Merck Millipore - Merck Millipore provides services and tools to bioscience research, pharmaceutical, and biotechnology industries. The company offers more than 60,000 products including test strips, reference materials, biopharmaceutical manufacturing products, chromolith products, and ultrafiltration solutions.
Thermo Fisher Scientific, Inc. - Thermo Fisher Scientific, Inc. offers products in life sciences, industrial & applied sciences, and clinical diagnostics categories. The company has operations in over 50 countries and offers products under the brands: Thermo Scientific, Invitrogen, Unity Lab Services, Applied Biosystems, and Fisher Scientific.
3D Biotek LLC – 3D Biotek LLC is a privately-owned biotechnology company that provides solutions in 3D cell culture by employing its Advanced Bio-Manufacturing Technology and 3D Precision Micro-Fabrication Technology. The 3D insert was the first commercialized product line of the company. 3D Biotek also provides products in multiple medical fields, such as angioplasty and orthopedic. Its global distributors include Sigma-Aldrich, CELLTREAT, Stemedx, and others.
Corning Incorporated - Corning Incorporated is a publicly held company involved in providing tools used in the fields of material science, telecommunications, and life sciences. This company also delivers a platform for drug discovery and cell culture. This company has research centers in North America, Europe, and Asia. Its business is segmented into Display Technologies, Environmental Technologies, Optical Communications, Life Sciences, and Specialty Materials.
Molecular Matrix, Inc. - Molecular Matrix, Inc. is a privately held company that develops new generation platforms based on tissue regeneration technology for several musculoskeletal applications. The company offers sheets, blocks, granules, and cylinders for orthopedic applications.
REPROCELL, Inc. - REPROCELL, Inc. develops stem cell technologies through academic partnerships with Integrated Cell Material Sciences, Institute of Medical Sciences, Kyoto University, and the University of Tokyo. The company is engaged in stem cell research carried through Induced Pluripotent Stem (iPS) Cells. The company provides range of media and reagents for feeder-dependent culture, human hematopoietic stem cell culture antibodies for pluripotency markers, and feeder-free culture. The company integrates human tissue services of Biopta with stem cell and 3D cell culture capabilities of Reinnervate.
Tecan Trading AG - Tecan Trading AG is a worldwide provider of laboratory instruments and solutions in clinical diagnostics, drug discovery, and translational research. The company offers automated workflow solutions for laboratories. Their clients include diagnostic laboratories, pharmaceutical & biotechnology companies, and university research centers. It has R&D sites in Europe and North America and provides services across 52 countries. Its product under the brand Cavro is popular among instrumentation suppliers across multiple disciplines.
Matricel GmbH - Matricel GmbH is a privately held company that develops, manufactures, and commercializes medical devices and pharmaceutical products for biotechnology and medical applications. The company majorly focuses on developing Class III medical devices that are made up of collagen and employed as implants in regenerative medicine. Matricel’s proprietary technology enables the development of biodegradable and biocompatible matrices for tissue engineering and regenerative medicine applications. The company offers products for medical disciplines of urology, orthopedics, plastic surgery, neurosurgery, dentistry, and dermatology.
Pelobiotech - Pelobiotech is a private company that offers a wide range of stem cells, 3D cell models, primary cells, and genetically modified cell systems. It supplies cell portfolio for research purposes and customized solutions for specific research-associated concerns. The company’s product portfolio consists of tissue dissociation, primary cells & stem cells, cell culture models, 3D cell culture, array & assay kits, microfluidic chips, DNA/RNA purification, transfection & transduction, and tools & instruments. The services offered by the company include hematotoxicity assay, transcriptomics, genomics, epigenomics, bioinformatics, 3D cell culture services & compound testing, cell culture media development & production, customized primary cell isolation, stem cell banking & cGMP manufacturing services, cGMP product development & production services as well as customized cell culture media development & production. This company shares partnership with Accumol, Inc.; BioLife Solutions, Inc.; Celenys; Cyagen Biosciences; InSphero; and others.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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