Cancer/Tumor Profiling Market Forecast (2024-2031)
The Cancer/Tumor Profiling Market is expected to register a CAGR of 10.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is divided into three sections: Technology (Immunoassays, Hybridization, Sequencing Techniques, Mass Spectrometry), Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Prostate Cancer, Melanoma Cancer) and Application (Clinical Application and Research Application). The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Cancer/Tumor Profiling 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.
Cancer/Tumor Profiling Market Segmentation
Technology- Immunoassays
- Hybridization
- Sequencing Techniques
- Mass Spectrometry
- Lung Cancer
- Breast Cancer
- Colorectal Cancer
- Prostate Cancer
- Melanoma Cancer
- Clinical Application and Research Application
- 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
Cancer/Tumor Profiling Market Growth Drivers- Rising Cancer Incidence: The global cancer burden is increasing, driving the need for effective diagnostic and therapeutic solutions.
- Advancements in Technology: Next-generation sequencing (NGS) and other innovative technologies are enabling more comprehensive and accurate tumor profiling.
- Personalized Medicine: Tailoring treatment to individual patients based on their tumor's unique characteristics is becoming increasingly important.
- Liquid Biopsies: Non-invasive blood tests are gaining traction for tumor profiling, offering a less burdensome alternative to traditional tissue biopsies.
- Artificial Intelligence (AI) and Machine Learning (ML): AI and ML algorithms are being used to analyze complex tumor data, identify patterns, and predict treatment outcomes.
- Multi-omics Profiling: Integrating data from genomics, proteomics, and other "omics" disciplines provides a more holistic understanding of tumor biology.
- Early Cancer Detection: Tumor profiling technologies can be used to detect cancer at earlier stages, when treatment is often more effective.
- Companion Diagnostics: Developing companion diagnostics that identify patients most likely to benefit from specific therapies can improve treatment outcomes.
- Drug Development: Tumor profiling can accelerate the development of new cancer therapies by identifying novel drug targets and biomarkers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cancer/Tumor Profiling 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 Cancer/Tumor Profiling 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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- 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
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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
Cancer/Tumor Profiling Market is expected to grow at a CAGR of 10.5% between 2023-2031
The driving factors impacting the Cancer/Tumor Profiling Market are: Rising Cancer Incidence, Advancements in Technology and Personalized Medicine
The future trends of the Cancer/Tumor Profiling Market are: Liquid Biopsies, Artificial Intelligence (AI) and Machine Learning (ML) and Multi-omics Profiling
The leading players of the market are: Illumina, Inc., QIAGEN N.V., NeoGenomics Laboratories, Inc., HTG Molecular Diagnostics, Inc., Genomic Health Inc., Caris Life Sciences, Helomics Corporation, NanoString Technologies, Inc., Sysmex Corporation, Roche Diagnostics
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 Cancer Profiling Market - By Technology
1.3.2 Cancer Profiling Market - By Type
1.3.3 Cancer Profiling Market - By Application
1.3.4 Cancer Profiling Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CANCER PROFILING 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. CANCER PROFILING 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. CANCER PROFILING MARKET - GLOBAL MARKET ANALYSIS
6.1. CANCER PROFILING - GLOBAL MARKET OVERVIEW
6.2. CANCER PROFILING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. CANCER PROFILING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. IMMUNOASSAYS
7.3.1. Overview
7.3.2. Immunoassays Market Forecast and Analysis
7.4. HYBRIDIZATION
7.4.1. Overview
7.4.2. Hybridization Market Forecast and Analysis
7.5. SEQUENCING TECHNIQUES
7.5.1. Overview
7.5.2. Sequencing Techniques Market Forecast and Analysis
7.6. MASS SPECTROMETRY
7.6.1. Overview
7.6.2. Mass Spectrometry Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. CANCER PROFILING MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
8.1. OVERVIEW
8.2. TYPE MARKET FORECASTS AND ANALYSIS
8.3. LUNG CANCER
8.3.1. Overview
8.3.2. Lung Cancer Market Forecast and Analysis
8.4. BREAST CANCER
8.4.1. Overview
8.4.2. Breast Cancer Market Forecast and Analysis
8.5. COLORECTAL CANCER
8.5.1. Overview
8.5.2. Colorectal Cancer Market Forecast and Analysis
8.6. PROSTATE CANCER
8.6.1. Overview
8.6.2. Prostate Cancer Market Forecast and Analysis
8.7. MELANOMA CANCER
8.7.1. Overview
8.7.2. Melanoma Cancer Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. CANCER PROFILING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. CLINICAL APPLICATION
9.3.1. Overview
9.3.2. Clinical Application Market Forecast and Analysis
9.4. RESEARCH APPLICATION
9.4.1. Overview
9.4.2. Research Application Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. others Market Forecast and Analysis
10. CANCER PROFILING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Cancer Profiling Market Overview
10.1.2 North America Cancer Profiling Market Forecasts and Analysis
10.1.3 North America Cancer Profiling Market Forecasts and Analysis - By Technology
10.1.4 North America Cancer Profiling Market Forecasts and Analysis - By Type
10.1.5 North America Cancer Profiling Market Forecasts and Analysis - By Application
10.1.6 North America Cancer Profiling Market Forecasts and Analysis - By Countries
10.1.6.1 United States Cancer Profiling Market
10.1.6.1.1 United States Cancer Profiling Market by Technology
10.1.6.1.2 United States Cancer Profiling Market by Type
10.1.6.1.3 United States Cancer Profiling Market by Application
10.1.6.2 Canada Cancer Profiling Market
10.1.6.2.1 Canada Cancer Profiling Market by Technology
10.1.6.2.2 Canada Cancer Profiling Market by Type
10.1.6.2.3 Canada Cancer Profiling Market by Application
10.1.6.3 Mexico Cancer Profiling Market
10.1.6.3.1 Mexico Cancer Profiling Market by Technology
10.1.6.3.2 Mexico Cancer Profiling Market by Type
10.1.6.3.3 Mexico Cancer Profiling Market by Application
10.2. EUROPE
10.2.1 Europe Cancer Profiling Market Overview
10.2.2 Europe Cancer Profiling Market Forecasts and Analysis
10.2.3 Europe Cancer Profiling Market Forecasts and Analysis - By Technology
10.2.4 Europe Cancer Profiling Market Forecasts and Analysis - By Type
10.2.5 Europe Cancer Profiling Market Forecasts and Analysis - By Application
10.2.6 Europe Cancer Profiling Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Cancer Profiling Market
10.2.6.1.1 Germany Cancer Profiling Market by Technology
10.2.6.1.2 Germany Cancer Profiling Market by Type
10.2.6.1.3 Germany Cancer Profiling Market by Application
10.2.6.2 France Cancer Profiling Market
10.2.6.2.1 France Cancer Profiling Market by Technology
10.2.6.2.2 France Cancer Profiling Market by Type
10.2.6.2.3 France Cancer Profiling Market by Application
10.2.6.3 Italy Cancer Profiling Market
10.2.6.3.1 Italy Cancer Profiling Market by Technology
10.2.6.3.2 Italy Cancer Profiling Market by Type
10.2.6.3.3 Italy Cancer Profiling Market by Application
10.2.6.4 Spain Cancer Profiling Market
10.2.6.4.1 Spain Cancer Profiling Market by Technology
10.2.6.4.2 Spain Cancer Profiling Market by Type
10.2.6.4.3 Spain Cancer Profiling Market by Application
10.2.6.5 United Kingdom Cancer Profiling Market
10.2.6.5.1 United Kingdom Cancer Profiling Market by Technology
10.2.6.5.2 United Kingdom Cancer Profiling Market by Type
10.2.6.5.3 United Kingdom Cancer Profiling Market by Application
10.2.6.6 Rest of Europe Cancer Profiling Market
10.2.6.6.1 Rest of Europe Cancer Profiling Market by Technology
10.2.6.6.2 Rest of Europe Cancer Profiling Market by Type
10.2.6.6.3 Rest of Europe Cancer Profiling Market by Application
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Cancer Profiling Market Overview
10.3.2 Asia-Pacific Cancer Profiling Market Forecasts and Analysis
10.3.3 Asia-Pacific Cancer Profiling Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Cancer Profiling Market Forecasts and Analysis - By Type
10.3.5 Asia-Pacific Cancer Profiling Market Forecasts and Analysis - By Application
10.3.6 Asia-Pacific Cancer Profiling Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Cancer Profiling Market
10.3.6.1.1 Australia Cancer Profiling Market by Technology
10.3.6.1.2 Australia Cancer Profiling Market by Type
10.3.6.1.3 Australia Cancer Profiling Market by Application
10.3.6.2 China Cancer Profiling Market
10.3.6.2.1 China Cancer Profiling Market by Technology
10.3.6.2.2 China Cancer Profiling Market by Type
10.3.6.2.3 China Cancer Profiling Market by Application
10.3.6.3 India Cancer Profiling Market
10.3.6.3.1 India Cancer Profiling Market by Technology
10.3.6.3.2 India Cancer Profiling Market by Type
10.3.6.3.3 India Cancer Profiling Market by Application
10.3.6.4 Japan Cancer Profiling Market
10.3.6.4.1 Japan Cancer Profiling Market by Technology
10.3.6.4.2 Japan Cancer Profiling Market by Type
10.3.6.4.3 Japan Cancer Profiling Market by Application
10.3.6.5 South Korea Cancer Profiling Market
10.3.6.5.1 South Korea Cancer Profiling Market by Technology
10.3.6.5.2 South Korea Cancer Profiling Market by Type
10.3.6.5.3 South Korea Cancer Profiling Market by Application
10.3.6.6 Rest of Asia-Pacific Cancer Profiling Market
10.3.6.6.1 Rest of Asia-Pacific Cancer Profiling Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Cancer Profiling Market by Type
10.3.6.6.3 Rest of Asia-Pacific Cancer Profiling Market by Application
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Cancer Profiling Market Overview
10.4.2 Middle East and Africa Cancer Profiling Market Forecasts and Analysis
10.4.3 Middle East and Africa Cancer Profiling Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Cancer Profiling Market Forecasts and Analysis - By Type
10.4.5 Middle East and Africa Cancer Profiling Market Forecasts and Analysis - By Application
10.4.6 Middle East and Africa Cancer Profiling Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Cancer Profiling Market
10.4.6.1.1 South Africa Cancer Profiling Market by Technology
10.4.6.1.2 South Africa Cancer Profiling Market by Type
10.4.6.1.3 South Africa Cancer Profiling Market by Application
10.4.6.2 Saudi Arabia Cancer Profiling Market
10.4.6.2.1 Saudi Arabia Cancer Profiling Market by Technology
10.4.6.2.2 Saudi Arabia Cancer Profiling Market by Type
10.4.6.2.3 Saudi Arabia Cancer Profiling Market by Application
10.4.6.3 U.A.E Cancer Profiling Market
10.4.6.3.1 U.A.E Cancer Profiling Market by Technology
10.4.6.3.2 U.A.E Cancer Profiling Market by Type
10.4.6.3.3 U.A.E Cancer Profiling Market by Application
10.4.6.4 Rest of Middle East and Africa Cancer Profiling Market
10.4.6.4.1 Rest of Middle East and Africa Cancer Profiling Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Cancer Profiling Market by Type
10.4.6.4.3 Rest of Middle East and Africa Cancer Profiling Market by Application
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Cancer Profiling Market Overview
10.5.2 South and Central America Cancer Profiling Market Forecasts and Analysis
10.5.3 South and Central America Cancer Profiling Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Cancer Profiling Market Forecasts and Analysis - By Type
10.5.5 South and Central America Cancer Profiling Market Forecasts and Analysis - By Application
10.5.6 South and Central America Cancer Profiling Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Cancer Profiling Market
10.5.6.1.1 Brazil Cancer Profiling Market by Technology
10.5.6.1.2 Brazil Cancer Profiling Market by Type
10.5.6.1.3 Brazil Cancer Profiling Market by Application
10.5.6.2 Argentina Cancer Profiling Market
10.5.6.2.1 Argentina Cancer Profiling Market by Technology
10.5.6.2.2 Argentina Cancer Profiling Market by Type
10.5.6.2.3 Argentina Cancer Profiling Market by Application
10.5.6.3 Rest of South and Central America Cancer Profiling Market
10.5.6.3.1 Rest of South and Central America Cancer Profiling Market by Technology
10.5.6.3.2 Rest of South and Central America Cancer Profiling Market by Type
10.5.6.3.3 Rest of South and Central America Cancer Profiling Market by Application
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL CANCER PROFILING 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. CANCER PROFILING MARKET, KEY COMPANY PROFILES
13.1. ILLUMINA, INC.
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. QIAGEN N.V.
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. NEOGENOMICS LABORATORIES, INC.
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. HTG MOLECULAR DIAGNOSTICS, INC.
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. GENOMIC HEALTH INC.
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. CARIS LIFE SCIENCES
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. HELOMICS 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. NANOSTRING TECHNOLOGIES, INC.
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. SYSMEX CORPORATION
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. ROCHE DIAGNOSTICS
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
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Illumina, Inc.
2. QIAGEN N.V.
3. NeoGenomics Laboratories, Inc.
4. HTG Molecular Diagnostics, Inc.
5. Genomic Health Inc.
6. Caris Life Sciences
7. Helomics Corporation
8. NanoString Technologies, Inc.
9. Sysmex Corporation
10. Roche Diagnostics
11. Hologic Gen-Probe
12. Siemens Healthineers
13. Personal Genome Diagnostics, Inc.
14. Perthera, Inc.
15. Contextual Genomics
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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