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Greece Luxury Travel Market

Greece Luxury Travel Market by Type of Tour (Customized & Private Vacations, Adventure & Safari, Cruise/Ship Expedition, Small Group Journey, Celebration & Special Events, and Culinary Travel & Shopping), Type of Traveler (Absolute Luxury, Aspiring Luxury, and Accessible Luxury) and Age Group (Millennial, Generation X, Baby Boomer, and Silver Hair): Opportunity Analysis and Industry Forecast 2021–2030

A15627
Pages: 147
Feb 2022 | 641 Views
   
Author(s) : Jaya Bundele , Roshan Deshmukh
Tables: 54
Charts: 30
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The Greece luxury travel market size was valued at $767.8 million in 2020, and is projected to reach $2,736.7 million by 2030, registering a CAGR of 11.5% from 2021 to 2030. 

Luxury travel is considered as a unique travel experience with an immense comfort and quality while avoiding stress, anxiety and tension. Furthermore, it includes an elevated travel experience such as customized & private vacations, adventure & safari, cruise/ship expedition, small group journey, celebration & special events as well as culinary travel & shopping. It also provides additional facilities such as art craft visits, wine tastings, antique shopping, and others in the packages as per the traveler’s need and demand. 

Greece-Luxury-Travel-Market

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It is observed that high expertise of luxury travel companies as well as plausibility of customization drives Greece luxury travel market. There is increase in Greece luxury travel market demand for traveler as travel is the second most popular pastime among high-budget tourists, while shopping still remains the first choice. Nowadays, luxury travelers look for entertainment and social interaction rather than regular treatment that positively impacted the growth of Greece luxury market. Also, launch of new services and access to new destination markets is key driver of Greece luxury travel market. Furthermore, younger generations aged 30 years and above age who seek for superior lifestyle experiences contributed to 10% growth in the cruise market. Mid-income and aspirational shoppers are fostering the growth of upper premium brands and the second-hand market.

Moreover, luxury travel is mostly opted by baby boomer group since it is much more convenient, relaxing, and amazing mode of traveling.  Various luxury travel portfolio has extended into the luxury river cruise market and yachting & air market. Furthermore, generation X segment has been identified as a significant contributor in Greece luxury travel market growth because they are more interested in adventure trips, exploring cultures, and visiting new places. Over the year people are getting aware of the various culture types through various social media content and also to make an event of their life a memorable by breaking the monotony of usual get-togethers and unwinding the shackles of life’s monotony. Moreover, shopping while traveling can be a highly pragmatic way to travel; a way to find productive and discover a genuine space into another culture's history. Furthermore, travelers are more into adventure trips, exploring cultures, and visiting new places due to more disposable income and holidays. 

Some other factor contributing towards growth of Greece luxury travel market is the cost for various tours which starts from few hundred dollars per night and rise depending upon the destination, travel providers, and tour package. The Greece luxury travel market also attracts independent experience searchers, empty nesters, multi-generational families, older travelers, young adults, singles, and even honeymooners. Encouraging such travelers to escape from the monotony to experience something completely exciting help drive more business in Greece luxury travel market. Furthermore, gender and parenting status also influence luxury travel preferences. Several travel companies arrange private tours in destinations such as Greece to celebrate important events. The destination celebration traveling has become trendsetter in the travel market with more people willing to celebrate past events, celebrate occasions, and share experiences.

Greece Luxury Travel Market
By type of tour

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Celebration and special events segment is expected to grow at highest CAGR of 12.9% during the forecast period

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Furthermore, Greece luxury travel market is hampered due to outbreak of COVID-19 pandemic which has resulted in the closure of numerous travel places across the globe. The tourism industry has been severely affected all across the globe, impacting its associated sectors such as travel agencies, hospitality, tour operators, and all kinds of transportation services. Around 90% of the worldwide population had acclimated to their new lifestyle due to various travel limitations, while the remaining population remained at home out of concern of the virus .. Thus, the tourism sector came to a halt. According to World Travel and Tourism Council (WTTC), Greece has observed around 75% of decline in the tourism industry due to COVID-19 pandemic.

According to the Greece luxury travel market analysis, the Greece luxury travel market is segmented on the basis of type of tours, type of traveler, and age group. On the basis of type of tours, the market is bifurcated into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special event, and culinary travel & shopping. By type of tour, the adventure and safari hold the largest Greece luxury travel market share during the Greece luxury travel market forecast period. On the basis of type of travelers as absolute luxury, aspiring luxury, and accessible luxury. On the basis of the age groups the Greece luxury travel market are millennial (21-30), generation x (31-40), baby boomers (41-60), and silver hair (60 and above). 

Greece Luxury Travel Market
By type of traveler

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Absolute Luxury segment is expected to grow at highest CAGR of 11.6% during the forecast period.

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The most important growth strategy used by market players is product launch, which is followed by partnership. To diversify the product offerings, several businesses have developed innovative products. Product launches are used by a variety of businesses to broaden the  market reach and serve international customers.

Greece Luxury Travel Market
By Age Group

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Millennial segment is expected to grow at highest CAGR of 13.4% during the forecast period.

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Key Benefits For Stakeholders

  • This report provides a quantitative analysis of current Greece luxury travel market trends, estimations, and dynamics of the market from 2021 to 2030 to identify the prevailing market opportunities.
  • Porter’s Five Forces analysis highlights potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen the supplier–buyer network.
  • In-depth analysis of the market segmentation assists to determine the prevailing Greece luxury travel market opportunities.
  • Major countries in each region are mapped according to the revenue contribution to the industry. 
  • The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
  • The report includes analyses of the regional as well as market, key players, market segments, application areas, and growth strategies.

Key Market Segments

  • By Type Of Tour
    • Customized and private vacations
    • Adventure and safari
    • Cruise/ship expedition
    • Small group journey
    • Celebration and special events
    • Culinary travel and shopping
  • By Type of Traveler
    • Absolute luxury
    • Aspiring Luxury
    • Accessible Luxury
  • By Age Group
    • Millennials
    • Generation X
    • Baby boomers
    • Silver hair


Key Market Players

  • Abercrombie & Kent USA LLC
  • Butterfield & Robinson
  • Cox & Kings Ltd.
  • Kensington Tours
  • Micato Safari
  • Scott Dunn Ltd.
  • Tauck, Inc.
  • THOMAS COOK INDIA LTD.
  • Travcoa Corporation
  • TUI Group
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
Source: Primary and Secondary Research and AMR Analysis
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Snapshot
2.2.Key findings

2.2.1.Top investment pocket

2.3.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope

3.1.1.Bargaining power of suppliers
3.1.2.Bargaining power of buyers
3.1.3.Threat of new entrants
3.1.4.Threat of substitutes
3.1.5.Intensity of competitive rivalry

3.2.Market dynamics

3.2.1.Drivers

3.2.1.1.Growing inclination of people towards unique and exotic holiday experiences
3.2.1.2.Growing trend of online bookings
3.2.1.3.The rise of social media and its impact on travel industry

3.2.2.Restraint

3.2.2.1.Varying socio-economic conditions
3.2.2.2.Effect by natural parameters

3.2.3.Opportunity

3.2.3.1.Emerging new destinations
3.2.3.2.Demand for enhanced service standards

3.2.4.COVID-19 Impact Analysis
3.2.5.Multiple scenario

3.2.6.Value chain analysis
3.2.7.Top impacting factors

3.2.8.Top player positioning, 2020
3.2.9.Market Analysis, By type of tour
3.2.10.Market Analysis, by type of traveler
3.2.11.Market Analysis, by age group

CHAPTER 4:GREECE LUXURY MARKET, BY TYPE OF TOUR

4.1.Overview

4.1.1.Market size and forecast

4.2.Customized and private vacations

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast

4.3.Adventure and safari

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast

4.4.Cruise/ship expedition

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast

4.5.Small group journey

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast

4.6.Celebration and special events

4.6.1.Key market trends, growth factors, and opportunities
4.6.2.Market size and forecast

4.7.Culinary travel and shopping

4.7.1.Key market trends, growth factors, and opportunities
4.7.2.Market size and forecast

CHAPTER 5:GREECE LUXURY MARKET, BY TYPE OF TRAVELER

5.1.Overview

5.1.1.Market size and forecast

5.2.Absolute luxury

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast

5.3.Aspiring Luxury

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast

5.4.Accessible Luxury

5.4.1.Key market trends, growth factors, and opportunities

CHAPTER 6:GREECE LUXURY MARKET, BY AGE GROUP

6.1.Overview

6.1.1.Market size and forecast

6.2.Millennials

6.2.2.Market size and forecast

6.3.Generation X

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast

6.4.Baby boomers

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast

6.5.Silver hair

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast

CHAPTER 7:COMPETITION LANDSCAPE

7.1.Top winning strategies
7.2.Product mapping
7.3.Competitive dashboard
7.4.Competitive heat map
7.5.Key developments

7.5.1.Acquisition
7.5.2.Business Expansion
7.5.3.Product Launch

CHAPTER 8:COMPANY PROFILES

8.1.Abercrombie & Kent USA LLC

8.1.1.Company overview
8.1.2.Key Executives
8.1.3.Company snapshot
8.1.4.Product portfolio
8.1.5.Key strategic moves and developments

8.2.Butterfield & Robinson

8.2.1.Company overview
8.2.2.Key Executives
8.2.3.Company snapshot
8.2.4.Product portfolio

8.3.Cox & Kings Ltd.

8.3.1.Company overview
8.3.2.Key Executives
8.3.3.Company snapshot
8.3.4.Product portfolio

8.4.Kensington Tours

8.4.1.Company overview
8.4.2.Key Executives
8.4.3.Company snapshot
8.4.4.Product portfolio
8.4.5.Key strategic moves and developments

8.5.Micato Safari

8.5.1.Company overview
8.5.2.Key Executives
8.5.3.Company snapshot
8.5.4.Product portfolio

8.6.Scott Dunn Ltd.

8.6.1.Company overview
8.6.2.Key Executives
8.6.3.Company snapshot
8.6.4.Product portfolio

8.7.Tauck, Inc.

8.7.1.Company overview
8.7.2.Key Executives
8.7.3.Company snapshot
8.7.4.Product portfolio
8.7.5.Key strategic moves and developments

8.8.THOMAS COOK INDIA LTD.

8.8.1.Company overview
8.8.2.Key Executives
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.Business performance
8.8.7.Key strategic moves and developments

8.9.Travcoa Corporation

8.9.1.Company overview
8.9.2.Key Executives
8.9.3.Company snapshot
8.9.4.Product portfolio

8.10.TUI Group

8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Operating business segments
8.10.5.Product portfolio
8.10.6.Business performance

LIST OF TABLES

TABLE 01.GREECE LUXURY, MARKET BY TYPE OF TOUR, 2020–2030 ($MILLION)
TABLE 02.CUSTOMIZED AND PRIVATE VACATIONS LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 03.ADVENTURE AND SAFARI MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 04.CRUISE/SHIP EXPEDITION LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 05.SMALL GROUP JOURNEY LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 06.CELEBRATION AND SPECIAL EVENTS LUXURY MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 07.CULINARY TRAVEL AND SHOPPING LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 08.GREECE LUXURY MARKET, BY TYPE OF TRAVELER, 2020–2030 ($MILLION)
TABLE 09.ABSOLUTE LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 10.ASPIRING LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 11.ACCESSIBLE LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 12.GREECE LUXURY MARKET, BY AGE GROUP, 2020–2030 ($MILLION)
TABLE 13.MILLENNIALS LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 14.GENERATION X LUXURY TRAVEL MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 15.BABY BOOMERS LUXURY MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 16.SILVER HAIR LUXURY MARKET, BY REGION, 2020–2030 ($MILLION)
TABLE 17.ABERCROMBIE & KENT USA LLC: KEY EXECUTIVES
TABLE 18.ABERCROMBIE & KENT USA LLC: COMPANY SNAPSHOT
TABLE 19.ABERCROMBIE & KENT USA LLC: PRODUCT PORTFOLIO
TABLE 20.KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 21.BUTTERFIELD & ROBINSON: KEY EXECUTIVES
TABLE 22.BUTTERFIELD & ROBINSON: COMPANY SNAPSHOT
TABLE 23.BUTTERFIELD & ROBINSON: PRODUCT PORTFOLIO
TABLE 24.COX & KINGS LTD.: KEY EXECUTIVES
TABLE 25.COX & KINGS LTD.: COMPANY SNAPSHOT
TABLE 26.COX & KINGS LTD.: PRODUCT PORTFOLIO
TABLE 27.KENSINGTON TOURS: KEY EXECUTIVES
TABLE 28.KENSINGTON TOURS: COMPANY SNAPSHOT
TABLE 29.KENSINGTON TOURS: PRODUCT PORTFOLIO
TABLE 30.KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 31.MICATO SAFARI: KEY EXECUTIVES
TABLE 32.MICATO SAFARI: COMPANY SNAPSHOT
TABLE 33.MICATO SAFARI: PRODUCT PORTFOLIO
TABLE 34.SCOTT DUNN LTD.: KEY EXECUTIVES
TABLE 35.SCOTT DUNN LTD.: COMPANY SNAPSHOT
TABLE 36.SCOTT DUNN LTD.: PRODUCT PORTFOLIO
TABLE 37.TAUCK, INC.: KEY EXECUTIVES
TABLE 38.TAUCK, INC.: COMPANY SNAPSHOT
TABLE 39.TAUCK, INC.: PRODUCT PORTFOLIO
TABLE 40.KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 41.THOMAS COOK INDIA LTD.: KEY EXECUTIVES
TABLE 42.THOMAS COOK INDIA LTD.: COMPANY SNAPSHOT
TABLE 43.THOMAS COOK INDIA LTD.: OPERATING SEGMENTS
TABLE 44.THOMAS COOK INDIA LTD.: PRODUCT PORTFOLIO
TABLE 45.THOMAS COOK INDIA LTD.: NET SALES, 2019–2021 ($MILLION)
TABLE 46.KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 47.TRAVCOA CORPORATION: KEY EXECUTIVES
TABLE 48.TRAVCOA CORPORATION: COMPANY SNAPSHOT
TABLE 49.TRAVCOA CORPORATION: PRODUCT PORTFOLIO
TABLE 50.TUI GROUP: KEY EXECUTIVES
TABLE 51.TUI GROUP: COMPANY SNAPSHOT
TABLE 52.TUI GROUP: OPERATING SEGMENTS
TABLE 53.TUI GROUP: PRODUCT PORTFOLIO
TABLE 54.TUI GROUP: NET SALES, 2018–2020 ($MILLION)

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.GREECE LUXURY MARKET
FIGURE 03.TOP INVESTMENT POCKETS
FIGURE 04.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 05.MODERATE BARGAINING POWER OF BUYERS
FIGURE 06.HIGH THREAT OF NEW ENTRANTS
FIGURE 07.HIGH THREAT OF SUBSTITUTES
FIGURE 08.HIGH INTENSITY OF COMPETITIVE RIVALRY
FIGURE 09.GREECE LUXURY MARKET: DRIVERS, RESTRAINTS, AND OPPORTUNITIES, 2020–2030
FIGURE 10.VALUE CHAIN ANALYSIS
FIGURE 11.TOP IMPACTING FACTORS
FIGURE 12.TOP PLAYER POSITIONING, 2020
FIGURE 13.MARKET ANALYSIS, BY TYPE OF TOUR
FIGURE 14.MARKET ANALYSIS, BY TYPE OF TRAVELER
FIGURE 15.MARKET ANALYSIS, BY AGE GROUP
FIGURE 16.GREECE LUXURY MARKET SHARE, BY TYPE OF TOUR, 2020–2030
FIGURE 17.GREECE LUXURY MARKET SHARE, BY TYPE OF TRAVELER, 2020–2030
FIGURE 18.GREECE LUXURY MARKET SHARE, BY AGE GROUP, 2020–2030
FIGURE 19.TOP WINNING STRATEGIES, BY YEAR, 2019–2021*
FIGURE 20.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2019–2021* (%)
FIGURE 21.TOP WINNING STRATEGIES, BY COMPANY, 2018–2021*
FIGURE 22.PRODUCT MAPPING OF TOP 10 KEY PLAYERS
FIGURE 23.COMPETITIVE DASHBOARD OF TOP 10 KEY PLAYERS
FIGURE 24.COMPETITIVE HEATMAP OF TOP 10 KEY PLAYERS
FIGURE 25.THOMAS COOK INDIA LTD.: NET SALES, 2019–2021 ($MILLION)
FIGURE 26.THOMAS COOK INDIA LTD.: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 27.THOMAS COOK INDIA LTD.: REVENUE SHARE BY REGION, 2021(%)
FIGURE 28.TUI GROUP: NET SALES, 2018–2020 ($MILLION)
FIGURE 29.TUI GROUP: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 30.TUI GROUP: REVENUE SHARE BY REGION, 2020 (%)


 
 

According to the insights of CXOs from leading companies, the Greece luxury travel market is anticipated to witness robust growth in cities such as Athens and Thessaloniki. The growth in the number of high net-worth individuals (HNIs) population and easy availability of on-arrival visa propel the growth of the Greece luxury travel market.

According to industry experts, the international tourists from France, Germany, Spain, and Australia opt for adventure and safari trips. Culinary tours also experience significant growth in the travel market. There is an increase in the number of private and culinary trips in Rhodes town, owing to growth in interest of people in local culture and their aspiration to have a better understanding of local cuisines and people.

The Central Macedonia in northern Greece region and countries such as Pella, Halkidiki, and Mount Olympus are the most visited regions of Greece. The number of arrivals, during pre-pandemic were highest as compared to other European countries.

The Greek National Tourism Organization (GNTO) is a tourism organization in Greece. It is the governmental board for the promotion of tourism in Greece. It also runs advertisement campaigns for the promotion of travel and tourism in the country. This type of organizations play a vital role for the growth of the Greece luxury travel market. The key market players are adopting various growth strategies such as product launch (tour packages) and acquisition to sustain in the competitive market.

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FREQUENTLY ASKED QUESTIONS?
Our Report Looks Like This
 

A. The Greece luxury travel market size was valued at $767.8 million in 2020, and is projected to reach $2,736.7 million by 2030, registering a CAGR of 11.5% from 2021 to 2030.

A. The Greece luxury travel market size was valued at $767.8 million in 2020, and is projected to reach $2,736.7 million by 2030, registering a CAGR of 11.5% from 2021 to 2030.

A. The CAGR of Greece Luxury Travel Market is 11.5% from 2021 to 2030.

A. The sample report of Greece luxury travel market is available on request on the website of Allied Market Research.

A. The base year calculated in the Greece luxury travel market report is 2020.

A. The top companies in the Greece luxury travel industry include Abercrombie & Kent Ltd, Cox and Kings Ltd, TUI group, Micato Safaris, Ker and Downey, Tauck, Thomas Cook Group, Scott Dunn Ltd, Kensington Tours, and Butterfield & Robinson Inc.

A. The Greece luxury travel market is segmented on the basis of type of tours, type of traveler, and age group. On the basis of type of tours, the market is bifurcated into customized and private vacations, adventure and safari, cruise/ship expedition, small group journey, celebration and special event, and culinary travel & shopping. On the basis of type of travelers as absolute luxury, aspiring luxury, and accessible luxury. On the basis of the age groups the Greece luxury travel market are millennial (21-30), generation x (31-40), baby boomers (41-60), and silver hair (60 and above).

A. It is observed that high expertise of luxury travel companies as well as plausibility of customization drives Greece luxury travel market. There is increase in Greece luxury travel market demand for traveler as travel is the second most popular pastime among high-budget tourists, while shopping still remains the first choice.

A. Greece luxury travel market is hampered due to outbreak of COVID-19 pandemic which has resulted in the closure of numerous travel places across the globe. The tourism industry has been severely affected all across the globe, impacting its associated sectors such as travel agencies, hospitality, tour operators, and all kinds of transportation services.

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