Blood Pressure Test Market Growth Report and Size by 2031
The Blood Pressure Test Market is expected to register a CAGR of 8.6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Sphygmomanometers, Blood Pressure Transducers, Instrument and Accessories, Others). The report further presents analysis based on the Indication (Hypertension, Coronary Heart Disease, Others). The report is segmented by End-User (Hospitals and Clinics, Diagnostic Centres, Homecare settings, 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 Pressure Test 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 Pressure Test Market Segmentation
Product- Sphygmomanometers
- Blood Pressure Transducers
- Instrument and Accessories
- Others
- Hypertension
- Coronary Heart Disease
- Others
- Hospitals and Clinics
- Diagnostic Centres
- Homecare settings
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Blood Pressure Test Market Growth Drivers- Rising Prevalence of Hypertension: The prevalence rate of hypertension has reached an alarming level due to the dynamic lifestyle, increasing age and more so dietary practices like increased sodium and obesity. The global population suffering from hypertension has exploded in numbers. This can be attributed to active changes in lifestyle, aging population, among others, consumption of such diets high in sodium and obesity. Hypertension is a major contributor to the burden of diseases such as cardiovascular disease, stroke and renal failure. Every day more and more individuals are diagnosed with high blood pressure; hence it goes without saying the appetite for blood pressure testing devices is on the rise. The patients will most likely practice blood pressure regular if not constant monitoring to avoid any risks that come with the condition hence the products in the category of testing devices will grow in the market.
- Recent innovations in Blood Pressure Monitors: The blood pressure testing industry is undergoing a revolution brought about by high class technologies. Smart watches/ bracelets, mobile phones connected to electronic cable free blood pressure monitors. Therefore, the movement of providing services and organisations blood pressure monitoring systems is easy, fast and precise. Home blood pressure monitoring has also been embraced more with the advent of automated blood pressure machines that can save data, give precautions, and connect to the mobile app for tracking purposes. Various non-invasive technologies are developing such as a device that does not require a cuff and is also creating standing out in the market looking at innovations.
- Increased Health Awareness and Trends in Preventive Healthcare: With the upsurge of global health understanding, people are embracing more healthcare practices to safeguard their health. More individuals are becoming active in monitoring essential health parameters such as high blood pressure to indent early the symptoms of hypertension or any related affliction. This change in society towards health care seeking and especially self-monitoring is increasing the need for blood pressure testing devices especially for small and easy to use home based ones. The rise in preventive health care measures is encouraging.
- Transition to Home Based Healthcare and Telehealth: Blood pressure monitoring is increasingly moving away from clinical settings towards a home-based approach with the most remarkable shift being the use of telemedicine and homecare services. As telemedicine advances more and more, interacting with a physician even for blood pressure control will require a home blood pressure monitoring device for every patient. This change is increasing the market for smart and connected blood pressure monitors that can be linked to telemedicine systems so that the patient’s information can be relayed instantly to the doctor.
- Embedding into Broader Digital Health Frameworks: Apart from being standalone patient monitoring devices, blood pressure monitoring devices are now being incorporated into more extensive digital health systems, e.g., EHRs, mobile health, and wellness systems. Most of the current devices allow the users to upload data to a smartphone or a cloud system, which allows both the patients and healthcare professionals to monitor the change over a period of time. This facilitates better chronic disease management and encourages the adoption of connected blood pressure monitors in health systems management, thus boosting the need for smart blood pressure monitoring apparatus.
- Emergence of Ecosystem of Technologies Dependent on Cuff-Free and Non-Invasive Monitoring Techniques: A standard blood pressure measurement is done with the use of a cuff that is wrapped around the upper arm and inflated. In contrast, the market is on the rise for technologies that do not require a cuff and are also non-invasive such as optical sensors or pulse wave analysis. These new developments are meant to enhance the patient experience during blood pressure measurement by making the process less unpleasant and easier. There is active investment in this area as organizations are searching for effective means of maximizing the efficiency of these non-invasive procedures at reasonable costs.
- Rising Trends in Adoption of Wearable Technology: Uncover more about this keyword by purchasing an essay here. The demand for wearable health monitoring devices has exponentially grown, with smart watches and fitness trackers availing real time tracking of a number of vital signs, blood pressure inclusive. The prospects however seem bright with the potential integration of blood pressure monitors in the existing wearables. Adopting smaller, more precise and enabling continuous monitoring will allow the c companies to exploit the growing wearables market targeting the users who are looking for ease, small size and health monitoring through data.
- Best practices include working with Health Plans and Health Care: These degrowth pathways also seek to provide responses to rising energy needs and environmental concerns, through device etching guidelines. The development of new industry can help in three main factors growth, expansion and market penetration. Meshing with Insurers or Health Systems blossoms other areas too, e.g. advertising their blood pressure pumps as part of a wellness initiative instead of waiting for the patients to seek them out.
- Contribution of AI and Use of Big Data: The splash pressure monitoring system device that uses Big data and AIded devices. AI can improve the effectiveness of the readings, project when the blood pressure is due for a change, and assist monitoring potential heart: related problems. Also, big data helps to improve health care services by providing more targeted insights on health, thus helping to manage and prevent disease better. This gives way for the brave companies that are able to risk the check up the executive devices by opening a console of medical blood pressure testing returns to them in the agency.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Blood Pressure Test 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 Pressure Test 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
This text is related
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
North America region dominated the Blood Pressure Test market in 2023.
Hypertension segment, by Indication, dominated the market in 2023.
Players operating in the market are OMRON Corporation, SunTech Medical, Inc., SPENGLER, Koninklijke Philips N.V., Schiller AG, Spacelabs Healthcare, American Diagnostic Corporation, Bosch + Sohn GmbH u. Co. KG, Withings SA, Welch Allyn, Inc. (Hill-Rom), A and D Medical, GE Healthcare
The Blood Pressure Test Market is estimated to witness a CAGR of 8.6% from 202#to 2031
Rising Trends in Adoption of Wearable Technology act as a opportunity for growth of the market in forecast period.
The major factors driving the Blood Pressure Test market are:
1. Rising Prevalence of Hypertension
2. Recent innovations in Blood Pressure Monitors
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Blood Pressure Test Market - By Product
1.3.2 Blood Pressure Test Market - By Indication
1.3.3 Blood Pressure Test Market - By End-User
1.3.4 Blood Pressure Test Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLOOD PRESSURE TEST 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 PRESSURE TEST 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 PRESSURE TEST MARKET - GLOBAL MARKET ANALYSIS
6.1. BLOOD PRESSURE TEST - GLOBAL MARKET OVERVIEW
6.2. BLOOD PRESSURE TEST - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BLOOD PRESSURE TEST MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. SPHYGMOMANOMETERS
7.3.1. Overview
7.3.2. Sphygmomanometers Market Forecast and Analysis
7.3.3. Mercury Market
7.3.3.1. Overview
7.3.3.2. Mercury Market Forecast and Analysis
7.3.4. Aneroid Market
7.3.4.1. Overview
7.3.4.2. Aneroid Market Forecast and Analysis
7.3.5. Digital Market
7.3.5.1. Overview
7.3.5.2. Digital Market Forecast and Analysis
7.4. BLOOD PRESSURE TRANSDUCERS
7.4.1. Overview
7.4.2. Blood Pressure Transducers Market Forecast and Analysis
7.4.3. Disposable Market
7.4.3.1. Overview
7.4.3.2. Disposable Market Forecast and Analysis
7.4.4. Reusable Market
7.4.4.1. Overview
7.4.4.2. Reusable Market Forecast and Analysis
7.5. INSTRUMENT AND ACCESSORIES
7.5.1. Overview
7.5.2. Instrument and Accessories Market Forecast and Analysis
7.5.3. Blood Pressure Cuffs Market
7.5.3.1. Overview
7.5.3.2. Blood Pressure Cuffs Market Forecast and Analysis
7.5.4. Bladders Market
7.5.4.1. Overview
7.5.4.2. Bladders Market Forecast and Analysis
7.5.5. Bulbs and Valve Market
7.5.5.1. Overview
7.5.5.2. Bulbs and Valve Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. BLOOD PRESSURE TEST MARKET - REVENUE AND FORECASTS TO 2028 - INDICATION
8.1. OVERVIEW
8.2. INDICATION MARKET FORECASTS AND ANALYSIS
8.3. HYPERTENSION
8.3.1. Overview
8.3.2. Hypertension Market Forecast and Analysis
8.4. CORONARY HEART DISEASE
8.4.1. Overview
8.4.2. Coronary Heart Disease Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BLOOD PRESSURE TEST MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND CLINICS
9.3.1. Overview
9.3.2. Hospitals and Clinics Market Forecast and Analysis
9.4. DIAGNOSTIC CENTRES
9.4.1. Overview
9.4.2. Diagnostic Centres Market Forecast and Analysis
9.5. HOMECARE SETTINGS
9.5.1. Overview
9.5.2. Homecare settings Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. BLOOD PRESSURE TEST MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Blood Pressure Test Market Overview
10.1.2 North America Blood Pressure Test Market Forecasts and Analysis
10.1.3 North America Blood Pressure Test Market Forecasts and Analysis - By Product
10.1.4 North America Blood Pressure Test Market Forecasts and Analysis - By Indication
10.1.5 North America Blood Pressure Test Market Forecasts and Analysis - By End-User
10.1.6 North America Blood Pressure Test Market Forecasts and Analysis - By Countries
10.1.6.1 United States Blood Pressure Test Market
10.1.6.1.1 United States Blood Pressure Test Market by Product
10.1.6.1.2 United States Blood Pressure Test Market by Indication
10.1.6.1.3 United States Blood Pressure Test Market by End-User
10.1.6.2 Canada Blood Pressure Test Market
10.1.6.2.1 Canada Blood Pressure Test Market by Product
10.1.6.2.2 Canada Blood Pressure Test Market by Indication
10.1.6.2.3 Canada Blood Pressure Test Market by End-User
10.1.6.3 Mexico Blood Pressure Test Market
10.1.6.3.1 Mexico Blood Pressure Test Market by Product
10.1.6.3.2 Mexico Blood Pressure Test Market by Indication
10.1.6.3.3 Mexico Blood Pressure Test Market by End-User
10.2. EUROPE
10.2.1 Europe Blood Pressure Test Market Overview
10.2.2 Europe Blood Pressure Test Market Forecasts and Analysis
10.2.3 Europe Blood Pressure Test Market Forecasts and Analysis - By Product
10.2.4 Europe Blood Pressure Test Market Forecasts and Analysis - By Indication
10.2.5 Europe Blood Pressure Test Market Forecasts and Analysis - By End-User
10.2.6 Europe Blood Pressure Test Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Blood Pressure Test Market
10.2.6.1.1 Germany Blood Pressure Test Market by Product
10.2.6.1.2 Germany Blood Pressure Test Market by Indication
10.2.6.1.3 Germany Blood Pressure Test Market by End-User
10.2.6.2 France Blood Pressure Test Market
10.2.6.2.1 France Blood Pressure Test Market by Product
10.2.6.2.2 France Blood Pressure Test Market by Indication
10.2.6.2.3 France Blood Pressure Test Market by End-User
10.2.6.3 Italy Blood Pressure Test Market
10.2.6.3.1 Italy Blood Pressure Test Market by Product
10.2.6.3.2 Italy Blood Pressure Test Market by Indication
10.2.6.3.3 Italy Blood Pressure Test Market by End-User
10.2.6.4 Spain Blood Pressure Test Market
10.2.6.4.1 Spain Blood Pressure Test Market by Product
10.2.6.4.2 Spain Blood Pressure Test Market by Indication
10.2.6.4.3 Spain Blood Pressure Test Market by End-User
10.2.6.5 United Kingdom Blood Pressure Test Market
10.2.6.5.1 United Kingdom Blood Pressure Test Market by Product
10.2.6.5.2 United Kingdom Blood Pressure Test Market by Indication
10.2.6.5.3 United Kingdom Blood Pressure Test Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Blood Pressure Test Market Overview
10.3.2 Asia-Pacific Blood Pressure Test Market Forecasts and Analysis
10.3.3 Asia-Pacific Blood Pressure Test Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Blood Pressure Test Market Forecasts and Analysis - By Indication
10.3.5 Asia-Pacific Blood Pressure Test Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Blood Pressure Test Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Blood Pressure Test Market
10.3.6.1.1 Australia Blood Pressure Test Market by Product
10.3.6.1.2 Australia Blood Pressure Test Market by Indication
10.3.6.1.3 Australia Blood Pressure Test Market by End-User
10.3.6.2 China Blood Pressure Test Market
10.3.6.2.1 China Blood Pressure Test Market by Product
10.3.6.2.2 China Blood Pressure Test Market by Indication
10.3.6.2.3 China Blood Pressure Test Market by End-User
10.3.6.3 India Blood Pressure Test Market
10.3.6.3.1 India Blood Pressure Test Market by Product
10.3.6.3.2 India Blood Pressure Test Market by Indication
10.3.6.3.3 India Blood Pressure Test Market by End-User
10.3.6.4 Japan Blood Pressure Test Market
10.3.6.4.1 Japan Blood Pressure Test Market by Product
10.3.6.4.2 Japan Blood Pressure Test Market by Indication
10.3.6.4.3 Japan Blood Pressure Test Market by End-User
10.3.6.5 South Korea Blood Pressure Test Market
10.3.6.5.1 South Korea Blood Pressure Test Market by Product
10.3.6.5.2 South Korea Blood Pressure Test Market by Indication
10.3.6.5.3 South Korea Blood Pressure Test Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Blood Pressure Test Market Overview
10.4.2 Middle East and Africa Blood Pressure Test Market Forecasts and Analysis
10.4.3 Middle East and Africa Blood Pressure Test Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Blood Pressure Test Market Forecasts and Analysis - By Indication
10.4.5 Middle East and Africa Blood Pressure Test Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Blood Pressure Test Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Blood Pressure Test Market
10.4.6.1.1 South Africa Blood Pressure Test Market by Product
10.4.6.1.2 South Africa Blood Pressure Test Market by Indication
10.4.6.1.3 South Africa Blood Pressure Test Market by End-User
10.4.6.2 Saudi Arabia Blood Pressure Test Market
10.4.6.2.1 Saudi Arabia Blood Pressure Test Market by Product
10.4.6.2.2 Saudi Arabia Blood Pressure Test Market by Indication
10.4.6.2.3 Saudi Arabia Blood Pressure Test Market by End-User
10.4.6.3 U.A.E Blood Pressure Test Market
10.4.6.3.1 U.A.E Blood Pressure Test Market by Product
10.4.6.3.2 U.A.E Blood Pressure Test Market by Indication
10.4.6.3.3 U.A.E Blood Pressure Test Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Blood Pressure Test Market Overview
10.5.2 South and Central America Blood Pressure Test Market Forecasts and Analysis
10.5.3 South and Central America Blood Pressure Test Market Forecasts and Analysis - By Product
10.5.4 South and Central America Blood Pressure Test Market Forecasts and Analysis - By Indication
10.5.5 South and Central America Blood Pressure Test Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Blood Pressure Test Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Blood Pressure Test Market
10.5.6.1.1 Brazil Blood Pressure Test Market by Product
10.5.6.1.2 Brazil Blood Pressure Test Market by Indication
10.5.6.1.3 Brazil Blood Pressure Test Market by End-User
10.5.6.2 Argentina Blood Pressure Test Market
10.5.6.2.1 Argentina Blood Pressure Test Market by Product
10.5.6.2.2 Argentina Blood Pressure Test Market by Indication
10.5.6.2.3 Argentina Blood Pressure Test Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL BLOOD PRESSURE TEST MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. BLOOD PRESSURE TEST MARKET, KEY COMPANY PROFILES
13.1. OMRON CORPORATION
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. SUNTECH MEDICAL, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SPENGLER
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. KONINKLIJKE PHILIPS N.V.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. SCHILLER AG
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. SPACELABS HEALTHCARE
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. AMERICAN DIAGNOSTIC CORPORATION
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. BOSCH + SOHN GMBH U. CO. KG, WITHINGS SA
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. WELCH ALLYN, INC. (HILL-ROM)
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. A AND D MEDICAL
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
13.11. GE HEALTHCARE
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. OMRON Corporation
2. SunTech Medical, Inc.
3. SPENGLER
4. Koninklijke Philips N.V.
5. Schiller AG
6. Spacelabs Healthcare
7. American Diagnostic Corporation
8. Bosch + Sohn GmbH u. Co. KG, Withings SA
9. Welch Allyn, Inc. (Hill-Rom)
10. A and D Medical
11. GE Healthcare
12. Microlife
13. NISSEI
14. Panasonic
15. Yuwell
16. Rossmax
17. Homedics
18. Sejoy
19. Kingyield
20. Andon
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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