Blood Culture Tests Market Dynamics 2021-2031
The Blood Culture Tests Market is expected to register a CAGR of 7.9% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Blood Culture Tests Market report covers analysis By Product (Instruments, Consumables, Reagents and Kits, Software and Services); Method (Conventional Blood Culture, Automated Blood Culture); Technology (Proteomic Technology, Culture-based Technology, Molecular Technology); End User (Hospitals and Clinics, Diagnostic and Research Laboratories, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Blood Culture Tests Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Blood Culture Tests Market Segmentation
Product- Instruments
- Consumables
- Reagents and Kits
- Software and Services
- Conventional Blood Culture
- Automated Blood Culture
- Proteomic Technology
- Culture-based Technology
- Molecular Technology
- Hospitals and Clinics
- Diagnostic and Research Laboratories
- Others
- Hospitals and Clinics
- Diagnostic and Research Laboratories
- Others
Strategic Insights
Blood Culture Tests Market Growth Drivers- Increasing Incidence of Infectious Diseases: The growing incidence of infectious diseases is the most important factor that propels the blood culture test market. This is due to the increasing incidence of infections, including bacterial, fungal, and parasitic diseases. Blood culture tests are essential for diagnosing sepsis, bacteremia, and other bloodstream infections, which further increases demand for these diagnostic tools.
- Diagnostic technologies advancement: Blood culture technologies, which have been enhanced through automation, real-time monitoring, and faster detection methods, are driving market growth. Such advancements in blood culture tests improve the sensitivity, speed, and accuracy of the tests, thus providing timely diagnosis and better outcomes.
- Growing Healthcare Infrastructure: A large number of people are becoming more health-conscious, thereby driving the demand for diagnostic tests, such as blood culture systems. Improved healthcare infrastructure, especially in developing regions, is also responsible for increasing the adoption of blood culture tests for early detection and treatment of infections.
- Automated Blood Culture Systems: There is a huge trend towards automated blood culture systems that bring in higher throughput, less labor cost, and higher accuracy. Automation in the processes of blood culture increases operational efficiency in hospitals and laboratories by reducing time-to-diagnosis and better clinical decision-making.
- Integration with Molecular Diagnostic Technologies: There is an increasing trend in the integration of blood culture systems with molecular diagnostic tools. This integration aids in the accurate and timely identification of pathogens causing infections. Techniques such as PCR and MALDI-TOF mass spectrometry are being incorporated to detect a wide range of pathogens from blood cultures, further improving diagnostic efficiency.
- Point-of-care testing for blood cultures: The point-of-care blood culture testing is becoming increasingly popular in critical care, emergency departments, and rural settings. It allows for rapid detection of infections at the patient's bedside with faster results and less dependence on central lab facilities.
- Expansion in Emerging Markets: The rising adoption of advanced diagnostic tools in emerging markets, especially within Asia-Pacific, Latin America, and Africa is a great opportunity for blood culture tests. These regions face the growing spread of infectious diseases, as well as increased health care investments, demanding solutions for blood culture testing.
- Rising Demand for Sepsis Detection: The leading cause of mortality in critically ill patients is sepsis, and early detection through blood culture testing is essential for improving survival rates. The growing focus on sepsis diagnosis and management presents opportunities for developing advanced, rapid blood culture tests that can detect sepsis in its early stages.
- Novel Blood Culture Media: Development of novel and innovative culture media for blood cultures, thereby increasing the sensitivity and range of the pathogen. These innovative methods will decrease false-negative results and enable more reliable and extensive diagnostic results regarding a broad range of infections.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Blood Culture Tests Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Blood Culture Tests Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Blood Culture Tests Market is estimated to witness a CAGR of 7.9% from 2023 to 2031.
The major factors driving the market are: Rising incidence of sepsis, Technological advancements in diagnostics, Government initiatives on infection control
Key future trends in this market are - Growing Adoption of Automated Blood Culture Systems, Increasing Prevalence of Bloodstream Infections, Emergence of Rapid Diagnostic Tools
Key companies of this market are: BD, Thermo Fisher Scientific, Inc., bioMérieux SA, Danaher Corporation, F. Hoffmann-La Roche Ltd, Bruker Corporation, Abbott, Luminex Corporation, Autobio Diagnostics Co., Ltd.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Blood Culture Tests Market - By Product
1.3.2 Blood Culture Tests Market - By Method
1.3.3 Blood Culture Tests Market - By Technology
1.3.4 Blood Culture Tests Market - By End User
1.3.5 Blood Culture Tests Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOOD CULTURE TESTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BLOOD CULTURE TESTS 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. BLOOD CULTURE TESTS MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOOD CULTURE TESTS - GLOBAL MARKET OVERVIEW
6.2. BLOOD CULTURE TESTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BLOOD CULTURE TESTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. INSTRUMENTS
7.3.1. Overview
7.3.2. Instruments Market Forecast and Analysis
7.3.3. Automated Blood Culture Systems Market
7.3.3.1. Overview
7.3.3.2. Automated Blood Culture Systems Market Forecast and Analysis
7.3.4. Associated Laboratory Equipment Market
7.3.4.1. Overview
7.3.4.2. Associated Laboratory Equipment Market Forecast and Analysis
7.4. CONSUMABLES
7.4.1. Overview
7.4.2. Consumables Market Forecast and Analysis
7.4.3. Blood Culture Media Market
7.4.3.1. Overview
7.4.3.2. Blood Culture Media Market Forecast and Analysis
7.4.4. Bacterial Infection Market
7.4.4.1. Overview
7.4.4.2. Bacterial Infection Market Forecast and Analysis
7.4.5. Fungal Infection Market
7.4.5.1. Overview
7.4.5.2. Fungal Infection Market Forecast and Analysis
7.4.6. Mycobacterial Infection Market
7.4.6.1. Overview
7.4.6.2. Mycobacterial Infection Market Forecast and Analysis
7.5. REAGENTS AND KITS
7.5.1. Overview
7.5.2. Reagents and Kits Market Forecast and Analysis
7.6. SOFTWARE AND SERVICES
7.6.1. Overview
7.6.2. Software and Services Market Forecast and Analysis
8. BLOOD CULTURE TESTS MARKET - REVENUE AND FORECASTS TO 2028 - METHOD
8.1. OVERVIEW
8.2. METHOD MARKET FORECASTS AND ANALYSIS
8.3. CONVENTIONAL BLOOD CULTURE
8.3.1. Overview
8.3.2. Conventional Blood Culture Market Forecast and Analysis
8.4. AUTOMATED BLOOD CULTURE
8.4.1. Overview
8.4.2. Automated Blood Culture Market Forecast and Analysis
9. BLOOD CULTURE TESTS MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
9.1. OVERVIEW
9.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
9.3. PROTEOMIC TECHNOLOGY
9.3.1. Overview
9.3.2. Proteomic Technology Market Forecast and Analysis
9.4. CULTURE-BASED TECHNOLOGY
9.4.1. Overview
9.4.2. Culture-based Technology Market Forecast and Analysis
9.5. MOLECULAR TECHNOLOGY
9.5.1. Overview
9.5.2. Molecular Technology Market Forecast and Analysis
9.5.3. PCR Market
9.5.3.1. Overview
9.5.3.2. PCR Market Forecast and Analysis
9.5.4. Microarray Market
9.5.4.1. Overview
9.5.4.2. Microarray Market Forecast and Analysis
9.5.5. PNA-FISH Market
9.5.5.1. Overview
9.5.5.2. PNA-FISH Market Forecast and Analysis
10. BLOOD CULTURE TESTS MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS AND CLINICS
10.3.1. Overview
10.3.2. Hospitals and Clinics Market Forecast and Analysis
10.4. DIAGNOSTIC AND RESEARCH LABORATORIES
10.4.1. Overview
10.4.2. Diagnostic and Research Laboratories Market Forecast and Analysis
10.5. OTHERS
10.5.1. Overview
10.5.2. Others Market Forecast and Analysis
11. BLOOD CULTURE TESTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Blood Culture Tests Market Overview
11.1.2 North America Blood Culture Tests Market Forecasts and Analysis
11.1.3 North America Blood Culture Tests Market Forecasts and Analysis - By Product
11.1.4 North America Blood Culture Tests Market Forecasts and Analysis - By Method
11.1.5 North America Blood Culture Tests Market Forecasts and Analysis - By Technology
11.1.6 North America Blood Culture Tests Market Forecasts and Analysis - By End User
11.1.7 North America Blood Culture Tests Market Forecasts and Analysis - By Countries
11.1.7.1 United States Blood Culture Tests Market
11.1.7.1.1 United States Blood Culture Tests Market by Product
11.1.7.1.2 United States Blood Culture Tests Market by Method
11.1.7.1.3 United States Blood Culture Tests Market by Technology
11.1.7.1.4 United States Blood Culture Tests Market by End User
11.1.7.2 Canada Blood Culture Tests Market
11.1.7.2.1 Canada Blood Culture Tests Market by Product
11.1.7.2.2 Canada Blood Culture Tests Market by Method
11.1.7.2.3 Canada Blood Culture Tests Market by Technology
11.1.7.2.4 Canada Blood Culture Tests Market by End User
11.1.7.3 Mexico Blood Culture Tests Market
11.1.7.3.1 Mexico Blood Culture Tests Market by Product
11.1.7.3.2 Mexico Blood Culture Tests Market by Method
11.1.7.3.3 Mexico Blood Culture Tests Market by Technology
11.1.7.3.4 Mexico Blood Culture Tests Market by End User
11.2. EUROPE
11.2.1 Europe Blood Culture Tests Market Overview
11.2.2 Europe Blood Culture Tests Market Forecasts and Analysis
11.2.3 Europe Blood Culture Tests Market Forecasts and Analysis - By Product
11.2.4 Europe Blood Culture Tests Market Forecasts and Analysis - By Method
11.2.5 Europe Blood Culture Tests Market Forecasts and Analysis - By Technology
11.2.6 Europe Blood Culture Tests Market Forecasts and Analysis - By End User
11.2.7 Europe Blood Culture Tests Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Blood Culture Tests Market
11.2.7.1.1 Germany Blood Culture Tests Market by Product
11.2.7.1.2 Germany Blood Culture Tests Market by Method
11.2.7.1.3 Germany Blood Culture Tests Market by Technology
11.2.7.1.4 Germany Blood Culture Tests Market by End User
11.2.7.2 France Blood Culture Tests Market
11.2.7.2.1 France Blood Culture Tests Market by Product
11.2.7.2.2 France Blood Culture Tests Market by Method
11.2.7.2.3 France Blood Culture Tests Market by Technology
11.2.7.2.4 France Blood Culture Tests Market by End User
11.2.7.3 Italy Blood Culture Tests Market
11.2.7.3.1 Italy Blood Culture Tests Market by Product
11.2.7.3.2 Italy Blood Culture Tests Market by Method
11.2.7.3.3 Italy Blood Culture Tests Market by Technology
11.2.7.3.4 Italy Blood Culture Tests Market by End User
11.2.7.4 Spain Blood Culture Tests Market
11.2.7.4.1 Spain Blood Culture Tests Market by Product
11.2.7.4.2 Spain Blood Culture Tests Market by Method
11.2.7.4.3 Spain Blood Culture Tests Market by Technology
11.2.7.4.4 Spain Blood Culture Tests Market by End User
11.2.7.5 United Kingdom Blood Culture Tests Market
11.2.7.5.1 United Kingdom Blood Culture Tests Market by Product
11.2.7.5.2 United Kingdom Blood Culture Tests Market by Method
11.2.7.5.3 United Kingdom Blood Culture Tests Market by Technology
11.2.7.5.4 United Kingdom Blood Culture Tests Market by End User
11.2.7.6 Rest of Europe Blood Culture Tests Market
11.2.7.6.1 Rest of Europe Blood Culture Tests Market by Product
11.2.7.6.2 Rest of Europe Blood Culture Tests Market by Method
11.2.7.6.3 Rest of Europe Blood Culture Tests Market by Technology
11.2.7.6.4 Rest of Europe Blood Culture Tests Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Blood Culture Tests Market Overview
11.3.2 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis
11.3.3 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis - By Method
11.3.5 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis - By Technology
11.3.6 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Blood Culture Tests Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Blood Culture Tests Market
11.3.7.1.1 Australia Blood Culture Tests Market by Product
11.3.7.1.2 Australia Blood Culture Tests Market by Method
11.3.7.1.3 Australia Blood Culture Tests Market by Technology
11.3.7.1.4 Australia Blood Culture Tests Market by End User
11.3.7.2 China Blood Culture Tests Market
11.3.7.2.1 China Blood Culture Tests Market by Product
11.3.7.2.2 China Blood Culture Tests Market by Method
11.3.7.2.3 China Blood Culture Tests Market by Technology
11.3.7.2.4 China Blood Culture Tests Market by End User
11.3.7.3 India Blood Culture Tests Market
11.3.7.3.1 India Blood Culture Tests Market by Product
11.3.7.3.2 India Blood Culture Tests Market by Method
11.3.7.3.3 India Blood Culture Tests Market by Technology
11.3.7.3.4 India Blood Culture Tests Market by End User
11.3.7.4 Japan Blood Culture Tests Market
11.3.7.4.1 Japan Blood Culture Tests Market by Product
11.3.7.4.2 Japan Blood Culture Tests Market by Method
11.3.7.4.3 Japan Blood Culture Tests Market by Technology
11.3.7.4.4 Japan Blood Culture Tests Market by End User
11.3.7.5 South Korea Blood Culture Tests Market
11.3.7.5.1 South Korea Blood Culture Tests Market by Product
11.3.7.5.2 South Korea Blood Culture Tests Market by Method
11.3.7.5.3 South Korea Blood Culture Tests Market by Technology
11.3.7.5.4 South Korea Blood Culture Tests Market by End User
11.3.7.6 Rest of Asia-Pacific Blood Culture Tests Market
11.3.7.6.1 Rest of Asia-Pacific Blood Culture Tests Market by Product
11.3.7.6.2 Rest of Asia-Pacific Blood Culture Tests Market by Method
11.3.7.6.3 Rest of Asia-Pacific Blood Culture Tests Market by Technology
11.3.7.6.4 Rest of Asia-Pacific Blood Culture Tests Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Blood Culture Tests Market Overview
11.4.2 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis
11.4.3 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis - By Method
11.4.5 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis - By Technology
11.4.6 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Blood Culture Tests Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Blood Culture Tests Market
11.4.7.1.1 South Africa Blood Culture Tests Market by Product
11.4.7.1.2 South Africa Blood Culture Tests Market by Method
11.4.7.1.3 South Africa Blood Culture Tests Market by Technology
11.4.7.1.4 South Africa Blood Culture Tests Market by End User
11.4.7.2 Saudi Arabia Blood Culture Tests Market
11.4.7.2.1 Saudi Arabia Blood Culture Tests Market by Product
11.4.7.2.2 Saudi Arabia Blood Culture Tests Market by Method
11.4.7.2.3 Saudi Arabia Blood Culture Tests Market by Technology
11.4.7.2.4 Saudi Arabia Blood Culture Tests Market by End User
11.4.7.3 Rest of Middle East and Africa Blood Culture Tests Market
11.4.7.3.1 Rest of Middle East and Africa Blood Culture Tests Market by Product
11.4.7.3.2 Rest of Middle East and Africa Blood Culture Tests Market by Method
11.4.7.3.3 Rest of Middle East and Africa Blood Culture Tests Market by Technology
11.4.7.3.4 Rest of Middle East and Africa Blood Culture Tests Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Blood Culture Tests Market Overview
11.5.2 South and Central America Blood Culture Tests Market Forecasts and Analysis
11.5.3 South and Central America Blood Culture Tests Market Forecasts and Analysis - By Product
11.5.4 South and Central America Blood Culture Tests Market Forecasts and Analysis - By Method
11.5.5 South and Central America Blood Culture Tests Market Forecasts and Analysis - By Technology
11.5.6 South and Central America Blood Culture Tests Market Forecasts and Analysis - By End User
11.5.7 South and Central America Blood Culture Tests Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Blood Culture Tests Market
11.5.7.1.1 Brazil Blood Culture Tests Market by Product
11.5.7.1.2 Brazil Blood Culture Tests Market by Method
11.5.7.1.3 Brazil Blood Culture Tests Market by Technology
11.5.7.1.4 Brazil Blood Culture Tests Market by End User
11.5.7.2 Argentina Blood Culture Tests Market
11.5.7.2.1 Argentina Blood Culture Tests Market by Product
11.5.7.2.2 Argentina Blood Culture Tests Market by Method
11.5.7.2.3 Argentina Blood Culture Tests Market by Technology
11.5.7.2.4 Argentina Blood Culture Tests Market by End User
11.5.7.3 Rest of South and Central America Blood Culture Tests Market
11.5.7.3.1 Rest of South and Central America Blood Culture Tests Market by Product
11.5.7.3.2 Rest of South and Central America Blood Culture Tests Market by Method
11.5.7.3.3 Rest of South and Central America Blood Culture Tests Market by Technology
11.5.7.3.4 Rest of South and Central America Blood Culture Tests Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL BLOOD CULTURE TESTS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. BLOOD CULTURE TESTS MARKET, KEY COMPANY PROFILES
14.1. BD
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. THERMO FISHER SCIENTIFIC, INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. BIOMéRIEUX SA
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. DANAHER CORPORATION
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. F. HOFFMANN-LA ROCHE LTD
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. BRUKER CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. ABBOTT
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. LUMINEX CORPORATION
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. AUTOBIO DIAGNOSTICS CO., LTD.
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. ABTEK BIOLOGICALS LTD
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. BD
2. Thermo Fisher Scientific, Inc.
3. bioMérieux SA
4. Danaher Corporation
5. F. Hoffmann-La Roche Ltd
6. Bruker Corporation
7. Abbott
8. Luminex Corporation
9. Autobio Diagnostics Co., Ltd.
10. Abtek Biologicals Ltd
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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