Chiropractic Care Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0193161
  • Format: Electronic (PDF)
  • Number of Pages: 188
  • Author(s): Joshi, Madhavi

Report Overview

The Chiropractic Care Market size was estimated at USD 18 billion in 2023 and is projected to reach USD 30 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024-2030).

Chiropractic Care Market

(Market Size)
$18 billion
$30 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 8.00%
2023 Market Size USD 18 billion
2030 Market Size USD 30 billion
Key Players The Joint, Chiro One, Airrosti, ATI Physical Therapy, HealthSource

Market Summary

The chiropractic care market, while fundamentally a healthcare service, intersects significantly with the consumer goods industry through the sale of supportive products and accessories. This market encompasses a range of goods designed to complement chiropractic treatments and promote spinal health, wellness, and pain management outside the clinical setting. Consumers are increasingly investing in products that support a proactive approach to health, driving demand for items available through retail channels. The market is characterized by a diverse array of products catering to both preventative care and post-treatment recovery. Key product categories include ergonomic furniture, therapeutic pillows, support braces, and portable relief devices. This sector is evolving rapidly, influenced by consumer education, technological integration in products, and a growing preference for non-invasive and drug-free wellness solutions. The convergence of healthcare and retail consumer goods has created a dynamic and expanding marketplace with substantial growth potential for manufacturers and retailers alike.

Key Highlights

The chiropractic care market within consumer goods is distinguished by several pivotal developments. A major highlight is the integration of advanced materials and smart technology into products like posture correctors and massage devices, enhancing their efficacy and user appeal. The rise of e-commerce has dramatically expanded market reach, allowing specialized brands to access a global consumer base directly. There is a pronounced consumer shift towards evidence-based products that are often recommended or endorsed by chiropractic professionals, lending credibility and driving sales. Furthermore, market consolidation is evident as larger consumer health companies acquire innovative startups to broaden their portfolios in the musculoskeletal health segment. The emphasis on personalized wellness has led to product customization, such as adjustable lumbar supports or heat therapy wraps designed for individual needs. These factors collectively underscore a market that is innovative, consumer-driven, and increasingly competitive.

Drivers, Opportunities & Restraints

The market's growth is propelled by several key drivers, primarily the increasing global prevalence of back pain and spinal issues, which expands the consumer base seeking relief and preventative solutions. Growing health consciousness and a preference for non-pharmacological pain management are significant factors encouraging consumers to invest in related goods. The widespread availability of these products through online retail platforms removes traditional barriers to access. Major opportunities lie in the untapped potential of emerging economies, where rising disposable incomes and growing awareness of chiropractic care are creating new markets. Product innovation, particularly in wearable technology and eco-friendly materials, presents another substantial avenue for growth. However, the market faces restraints, including the presence of low-quality, counterfeit products that can erode consumer trust. A lack of standardized regulations for some consumer goods in this category can lead to variable product quality. Furthermore, economic downturns can impact discretionary spending on non-essential health and wellness products, potentially dampening market growth.

Concentration Insights

The competitive landscape of the chiropractic consumer goods market features a mix of established medical device companies, specialized orthopedic product manufacturers, and agile direct-to-consumer startups. Concentration is moderate, with a few major players holding significant market share due to their extensive distribution networks and brand recognition. Companies like Medline Industries, DJO Global, and Core Products International are notable participants with comprehensive product lines. However, the market also supports a vibrant ecosystem of smaller, niche brands that compete on innovation, specialization, and targeted marketing. These smaller entities often focus on specific product categories, such as high-end ergonomic office chairs or organic cotton support braces, carving out dedicated customer segments. The market's fragmentation is more pronounced in online retail, where barriers to entry are lower. This structure fosters continuous competition and innovation, benefiting consumers with a wide range of choices but also creating a challenging environment for new entrants to achieve scale.

Type Insights

The market is segmented by product type, each addressing different aspects of spinal care and consumer needs. A prominent category is ergonomic furniture, which includes chairs, desks, and stools designed to promote proper posture and reduce strain during prolonged sitting. Therapeutic bedding, such as orthopedic pillows and adjustable mattresses, constitutes another significant segment aimed at improving sleep quality and spinal alignment. Support braces and belts are widely used for lumbar support during physical activity or for pain relief, available in various materials and designs. Another key type is portable pain relief devices, including handheld massagers, percussion therapy guns, and TENS units, which offer consumers drug-free pain management options. Additionally, rehabilitation equipment like foam rollers, stretching straps, and balance discs are popular for home-based therapy and fitness routines. Each product type continues to see material and technological advancements, enhancing comfort, usability, and therapeutic benefits for the end-user.

Application Insights

Consumer goods for chiropractic care find application across several key areas, primarily focused on pain management and preventative wellness. The largest application is for lower back pain relief, driving demand for lumbar supports, ergonomic seating, and heat therapy products. Another critical application is in corrective posture support, where products like posture correctors and ergonomic workstations are utilized to address issues caused by sedentary lifestyles and poor habits. Sports injury recovery and prevention represent a significant application area, with athletes and active consumers using braces, compression wear, and recovery tools. Products are also applied for general wellness and preventative care, as consumers adopt a proactive approach to maintaining spinal health and overall well-being. Furthermore, there is growing application in senior care, with products designed to alleviate age-related musculoskeletal discomfort and improve mobility. The diversification of applications ensures a broad and sustained demand across various consumer demographics.

Regional Insights

Geographically, the market for chiropractic care consumer goods demonstrates distinct regional patterns. North America represents the most mature and dominant market, driven by high consumer awareness, a well-established chiropractic industry, and strong purchasing power. The United States, in particular, is a hub for product innovation and has a high density of manufacturers and retailers. Europe follows closely, with robust markets in countries like Germany and the UK, where ergonomic products and natural health solutions are widely adopted. The Asia-Pacific region is identified as the fastest-growing market, fueled by rising healthcare expenditure, growing middle-class populations, and increasing awareness of alternative medicine in countries such as China, India, and Japan. Latin America and the Middle East & Africa are emerging regions with growing potential, though market penetration is currently lower and often concentrated in urban areas. Regional differences in regulatory frameworks, cultural attitudes towards healthcare, and economic development significantly influence product adoption and market dynamics.

Company Insights

The competitive arena includes a diverse set of companies ranging from global medical device giants to specialized wellness brands. Significant players such as Medtronic, although more known for medical devices, have interests in pain management solutions that overlap with this market. DJO Global, a subsidiary of Colfax Corporation, is a leading provider of orthopedic devices and rehabilitation products. Bauerfeind AG and Ottobock are prominent names known for their high-quality support braces and orthopedic products. In the ergonomic furniture segment, companies like Herman Miller and Steelcase are key influencers, offering chairs designed for health and productivity. Specialized consumer-focused brands like Therabody (known for Theragun percussion massagers) and ComfyBrace have gained substantial market share through direct-to-consumer models and digital marketing. These companies compete on factors including product efficacy, brand trust, clinical endorsements, distribution reach, and price, leading to a dynamic and innovative market environment.

Recent Developments

The market has witnessed several noteworthy recent developments indicative of its evolution. A prominent trend is the surge in mergers and acquisitions, as larger corporations seek to acquire innovative startups to quickly gain access to new technologies and growing customer bases. There has been a significant push towards the development of smart, connected devices; for instance, posture correctors that sync with mobile apps to provide feedback and progress tracking. Sustainability has become a key product development focus, with companies introducing lines made from recycled and organic materials to appeal to environmentally conscious consumers. The direct-to-consumer model has been further solidified, with brands investing heavily in social media marketing and influencer partnerships to build community and drive sales. Furthermore, the post-pandemic era has accelerated the demand for home-based wellness solutions, leading to increased innovation in portable and easy-to-use therapeutic devices suitable for remote work environments.

Report Segmentation

This comprehensive market report on chiropractic care within the consumer goods industry is meticulously segmented to provide a granular analysis. The segmentation is structured by product type, which includes detailed analysis of ergonomic furniture, therapeutic bedding, braces & supports, pain relief devices, and rehabilitation equipment. Each type is evaluated for its market dynamics, innovation trends, and consumer adoption rates. The report is further segmented by application, delving into the specific uses for lower back pain, posture correction, sports medicine, preventative wellness, and senior care. A critical component of the segmentation is the geographical analysis, which provides an in-depth examination of the market across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. This regional breakdown highlights key countries, growth patterns, and unique regional drivers and challenges. This multi-dimensional segmentation offers stakeholders targeted insights necessary for strategic planning and informed decision-making.

FAQs

What is driving the growth of the chiropractic care market?

The market is primarily driven by the increasing global incidence of spinal disorders and back pain, a growing consumer preference for non-invasive and drug-free pain management solutions, and rising health consciousness. The expansion of e-commerce platforms has also made these products more accessible to a wider audience.

What are the different types of chiropractic care products available?

The market offers a diverse range of products including ergonomic furniture like chairs and standing desks, therapeutic pillows and mattresses, various support braces and belts for different body parts, handheld massage devices and TENS units, and rehabilitation tools such as foam rollers and stretching aids.

Which region has the largest market for chiropractic care products?

North America, particularly the United States, holds the largest market share. This dominance is attributed to high consumer awareness, a well-established chiropractic industry, strong purchasing power, and the presence of leading manufacturers in the region.

How is technology impacting the chiropractic care market?

Technology is significantly impacting the market through the development of smart, connected devices. This includes posture correctors with Bluetooth sensors, massage guns with app-controlled settings, and advanced ergonomic furniture with adjustable settings that can be personalized for optimal support, enhancing user experience and outcomes.

Who are the key players in the chiropractic care market?

The market features a mix of established medical device companies and specialized consumer brands. Key players include DJO Global, Bauerfeind AG, Medline Industries, Ottobock, and Therabody. Companies like Herman Miller and Steelcase are also significant in the ergonomic furniture segment.

What are the major challenges facing the chiropractic care market?

Major challenges include the proliferation of low-quality and counterfeit products that can damage brand reputation and consumer trust, a lack of uniform regulatory standards for all consumer goods in this category, and the market's sensitivity to economic fluctuations which can affect discretionary spending on wellness products.

Citius Research has developed a research report titled “Chiropractic Care Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Chiropractic Care Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Chiropractic Care Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Chiropractic Care Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Chiropractic Care Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Chiropractic Care Market
• Research Methodology
• Executive Summary
• Market Dynamics of Chiropractic Care Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Chiropractic Care Market
• Cost and Gross Margin Analysis of Chiropractic Care Market
• Chiropractic Care Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Chiropractic Care Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Chiropractic Care Market Key Stakeholders

Below are the key stakeholders for the Chiropractic Care Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Chiropractic Care Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Chiropractic Care Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Chiropractic Care Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Chiropractic Care Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Chiropractic Care Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Chiropractic Care Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Chiropractic Care Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Chiropractic Care Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Chiropractic Care Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Chiropractic Care Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Chiropractic Care Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Chiropractic Care Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Chiropractic Care Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Chiropractic Care Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Chiropractic Care Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Chiropractic Care Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Chiropractic Care Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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