Antibiotic Stewardship Biomarkers Market Key Findings by 2031
The emergence and spread of antimicrobial resistance have been identified as a significant problem for human health that profoundly impacts clinical outcomes and healthcare-associated costs. The overuse and misuse of antibiotics have resulted in antimicrobial resistance, as antibiotics are commonly prescribed without a definitive diagnosis. Antibiotic stewardship is the effort by healthcare providers to measure and improve how antibiotics are prescribed by clinicians and used by patients. It includes prescribing antibiotics only when needed (i.e., for bacterial infections, not viral ones), prescribing the appropriate antibiotics for the diagnosed infection, prescribing the correct dose and duration of antibiotic treatment, and combat antibiotic resistance. Hence, biomarkers have emerged as potentially useful diagnostic tools to help physicians triage, diagnose, stratify risk, and monitor the clinical course and respond to antibiotics. PCT (procalcitonin) is the most widely studied biomarker for antibiotic stewardship. It has been tested to aid the initiation or discontinuation of antibiotics, both in children and adults.
MARKET SCOPE
The "Global Antibiotic Stewardship Biomarkers Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the antibiotic stewardship biomarkers market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading antibiotic stewardship biomarkers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global antibiotic stewardship biomarkers market is segmented into blood biomarkers and urine biomarkers.
- On the basis of application, the market is bifurcated into diagnostics, drug discovery, personalized medicine and others.
MARKET DYNAMICS
Drivers
- Rising diagnostic applications of biomarkers drive the antibiotic stewardship biomarkers market.
- Increasing research and development activities propel the market growth.
- Technological advancement in disease diagnosis and increasing lower respiratory tract infections fuel the market growth.
- Antibiotic stewardship biomarkers act as cornerstones in the treatment of infection that boosts the market growth.
Restraints
- Insufficient microbiological information.
- Limited drug availability.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The antibiotic stewardship biomarkers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the antibiotic stewardship biomarkers market in these regions.
IMPACT OF COVID-19 ON ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. During COVID-19, the antibiotic stewardship biomarkers market witnessed growth as biomarkers were used to predict secondary infections in ICU patients. CRP was usually increased in patients with COVID-19, and serum procalcitonin (PCT) helps in the identification of secondary infections in patients with COVID-19. It was found that a high proportion of COVID-19 patients received unnecessary antibiotic treatment. The increase in antibiotic administration can result in antibiotic resistance. Hence, it was suggested that a potential consequence of the COVID-19 pandemic might be an accelerated propagation of antimicrobial resistance. Therefore, clinicians, hospitals, microbiology labs, and public health organizations need to monitor the potential impact of increased antimicrobial consumption on the emergence of resistance in patients. The overall results from carefully designed studies can be utilized to prescribe rational antimicrobial treatment and stewardship strategies and develop diagnostic criteria for secondary bacterial infections in the future.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The antibiotic stewardship biomarkers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the antibiotic stewardship biomarkers market in these regions.
IMPACT OF COVID-19 ON ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. During COVID-19, the antibiotic stewardship biomarkers market witnessed growth as biomarkers were used to predict secondary infections in ICU patients. CRP was usually increased in patients with COVID-19, and serum procalcitonin (PCT) helps in the identification of secondary infections in patients with COVID-19. It was found that a high proportion of COVID-19 patients received unnecessary antibiotic treatment. The increase in antibiotic administration can result in antibiotic resistance. Hence, it was suggested that a potential consequence of the COVID-19 pandemic might be an accelerated propagation of antimicrobial resistance. Therefore, clinicians, hospitals, microbiology labs, and public health organizations need to monitor the potential impact of increased antimicrobial consumption on the emergence of resistance in patients. The overall results from carefully designed studies can be utilized to prescribe rational antimicrobial treatment and stewardship strategies and develop diagnostic criteria for secondary bacterial infections in the future.
MARKET PLAYERS
The report covers key developments in the antibiotic stewardship biomarkers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from antibiotic stewardship biomarkers market are anticipated to have lucrative growth opportunities in the future with the rising demand for antibiotic stewardship biomarkers in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the antibiotic stewardship biomarkers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Thermo Fisher Scientific
- Qiagen
- Merck
- Abbott
- Bio-Rad Laboratories
- Roche
- HiMedia Laboratories
- Danaher Corporation
- Creative Diagnostic
- Agilent Technologies
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Antibiotic Stewardship Biomarkers Market - By Type
1.3.2 Antibiotic Stewardship Biomarkers Market - By Application
1.3.3 Antibiotic Stewardship Biomarkers Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET - GLOBAL MARKET ANALYSIS
6.1. ANTIBIOTIC STEWARDSHIP BIOMARKERS - GLOBAL MARKET OVERVIEW
6.2. ANTIBIOTIC STEWARDSHIP BIOMARKERS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. BLOOD BIOMARKERS
7.3.1. Overview
7.3.2. Blood Biomarkers Market Forecast and Analysis
7.4. URINE BIOMARKERS
7.4.1. Overview
7.4.2. Urine Biomarkers Market Forecast and Analysis
8. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. DIAGNOSTICS
8.3.1. Overview
8.3.2. Diagnostics Market Forecast and Analysis
8.4. DRUG DISCOVERY
8.4.1. Overview
8.4.2. Drug Discovery Market Forecast and Analysis
8.5. PERSONALIZED MEDICINE
8.5.1. Overview
8.5.2. Personalized Medicine Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Antibiotic Stewardship Biomarkers Market Overview
9.1.2 North America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis
9.1.3 North America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Type
9.1.4 North America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Application
9.1.5 North America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Antibiotic Stewardship Biomarkers Market
9.1.5.1.1 Canada Antibiotic Stewardship Biomarkers Market by Type
9.1.5.1.2 Canada Antibiotic Stewardship Biomarkers Market by Application
9.1.5.2 Mexico Antibiotic Stewardship Biomarkers Market
9.1.5.2.1 Mexico Antibiotic Stewardship Biomarkers Market by Type
9.1.5.2.2 Mexico Antibiotic Stewardship Biomarkers Market by Application
9.1.5.3 US Antibiotic Stewardship Biomarkers Market
9.1.5.3.1 US Antibiotic Stewardship Biomarkers Market by Type
9.1.5.3.2 US Antibiotic Stewardship Biomarkers Market by Application
9.2. EUROPE
9.2.1 Europe Antibiotic Stewardship Biomarkers Market Overview
9.2.2 Europe Antibiotic Stewardship Biomarkers Market Forecasts and Analysis
9.2.3 Europe Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Type
9.2.4 Europe Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Application
9.2.5 Europe Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Antibiotic Stewardship Biomarkers Market
9.2.5.1.1 Germany Antibiotic Stewardship Biomarkers Market by Type
9.2.5.1.2 Germany Antibiotic Stewardship Biomarkers Market by Application
9.2.5.2 France Antibiotic Stewardship Biomarkers Market
9.2.5.2.1 France Antibiotic Stewardship Biomarkers Market by Type
9.2.5.2.2 France Antibiotic Stewardship Biomarkers Market by Application
9.2.5.3 Italy Antibiotic Stewardship Biomarkers Market
9.2.5.3.1 Italy Antibiotic Stewardship Biomarkers Market by Type
9.2.5.3.2 Italy Antibiotic Stewardship Biomarkers Market by Application
9.2.5.4 Spain Antibiotic Stewardship Biomarkers Market
9.2.5.4.1 Spain Antibiotic Stewardship Biomarkers Market by Type
9.2.5.4.2 Spain Antibiotic Stewardship Biomarkers Market by Application
9.2.5.5 United Kingdom Antibiotic Stewardship Biomarkers Market
9.2.5.5.1 United Kingdom Antibiotic Stewardship Biomarkers Market by Type
9.2.5.5.2 United Kingdom Antibiotic Stewardship Biomarkers Market by Application
9.2.5.6 Rest of Europe Antibiotic Stewardship Biomarkers Market
9.2.5.6.1 Rest of Europe Antibiotic Stewardship Biomarkers Market by Type
9.2.5.6.2 Rest of Europe Antibiotic Stewardship Biomarkers Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Antibiotic Stewardship Biomarkers Market Overview
9.3.2 Asia-Pacific Antibiotic Stewardship Biomarkers Market Forecasts and Analysis
9.3.3 Asia-Pacific Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Antibiotic Stewardship Biomarkers Market
9.3.5.1.1 Australia Antibiotic Stewardship Biomarkers Market by Type
9.3.5.1.2 Australia Antibiotic Stewardship Biomarkers Market by Application
9.3.5.2 China Antibiotic Stewardship Biomarkers Market
9.3.5.2.1 China Antibiotic Stewardship Biomarkers Market by Type
9.3.5.2.2 China Antibiotic Stewardship Biomarkers Market by Application
9.3.5.3 India Antibiotic Stewardship Biomarkers Market
9.3.5.3.1 India Antibiotic Stewardship Biomarkers Market by Type
9.3.5.3.2 India Antibiotic Stewardship Biomarkers Market by Application
9.3.5.4 Japan Antibiotic Stewardship Biomarkers Market
9.3.5.4.1 Japan Antibiotic Stewardship Biomarkers Market by Type
9.3.5.4.2 Japan Antibiotic Stewardship Biomarkers Market by Application
9.3.5.5 South Korea Antibiotic Stewardship Biomarkers Market
9.3.5.5.1 South Korea Antibiotic Stewardship Biomarkers Market by Type
9.3.5.5.2 South Korea Antibiotic Stewardship Biomarkers Market by Application
9.3.5.6 Rest of Asia-Pacific Antibiotic Stewardship Biomarkers Market
9.3.5.6.1 Rest of Asia-Pacific Antibiotic Stewardship Biomarkers Market by Type
9.3.5.6.2 Rest of Asia-Pacific Antibiotic Stewardship Biomarkers Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Antibiotic Stewardship Biomarkers Market Overview
9.4.2 Middle East and Africa Antibiotic Stewardship Biomarkers Market Forecasts and Analysis
9.4.3 Middle East and Africa Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Antibiotic Stewardship Biomarkers Market
9.4.5.1.1 South Africa Antibiotic Stewardship Biomarkers Market by Type
9.4.5.1.2 South Africa Antibiotic Stewardship Biomarkers Market by Application
9.4.5.2 Saudi Arabia Antibiotic Stewardship Biomarkers Market
9.4.5.2.1 Saudi Arabia Antibiotic Stewardship Biomarkers Market by Type
9.4.5.2.2 Saudi Arabia Antibiotic Stewardship Biomarkers Market by Application
9.4.5.3 U.A.E Antibiotic Stewardship Biomarkers Market
9.4.5.3.1 U.A.E Antibiotic Stewardship Biomarkers Market by Type
9.4.5.3.2 U.A.E Antibiotic Stewardship Biomarkers Market by Application
9.4.5.4 Rest of Middle East and Africa Antibiotic Stewardship Biomarkers Market
9.4.5.4.1 Rest of Middle East and Africa Antibiotic Stewardship Biomarkers Market by Type
9.4.5.4.2 Rest of Middle East and Africa Antibiotic Stewardship Biomarkers Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Antibiotic Stewardship Biomarkers Market Overview
9.5.2 South and Central America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis
9.5.3 South and Central America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Type
9.5.4 South and Central America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Application
9.5.5 South and Central America Antibiotic Stewardship Biomarkers Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Antibiotic Stewardship Biomarkers Market
9.5.5.1.1 Brazil Antibiotic Stewardship Biomarkers Market by Type
9.5.5.1.2 Brazil Antibiotic Stewardship Biomarkers Market by Application
9.5.5.2 Argentina Antibiotic Stewardship Biomarkers Market
9.5.5.2.1 Argentina Antibiotic Stewardship Biomarkers Market by Type
9.5.5.2.2 Argentina Antibiotic Stewardship Biomarkers Market by Application
9.5.5.3 Rest of South and Central America Antibiotic Stewardship Biomarkers Market
9.5.5.3.1 Rest of South and Central America Antibiotic Stewardship Biomarkers Market by Type
9.5.5.3.2 Rest of South and Central America Antibiotic Stewardship Biomarkers Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. ANTIBIOTIC STEWARDSHIP BIOMARKERS MARKET, KEY COMPANY PROFILES
11.1. THERMO FISHER SCIENTIFIC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. QIAGEN
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. MERCK
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. ABBOTT
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. BIO-RAD LABORATORIES
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. ROCHE
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HIMEDIA LABORATORIES
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. DANAHER CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. CREATIVE DIAGNOSTIC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. AGILENT TECHNOLOGIES
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Thermo Fisher Scientific
2.Qiagen
3.Merck
4.Abbott
5.Bio-Rad Laboratories
6.Roche
7.HiMedia Laboratories
8.Danaher Corporation
9.Creative Diagnostic
10.Agilent Technologies
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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