Diagnostic Testing of STDs Market Share and Growth (2021-2031)
The Diagnostic Testing of STDs Market is expected to register a CAGR of 5.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report presents an analysis based on by Disease Type (Chlamydia, Gonorrhea, Herpes simplex virus, Syphilis, Human papillomavirus (HPV) and other diseases); Testing (Laboratory Testing, Point of care (POC) Testing). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Diagnostic Testing of STDs 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.
Diagnostic Testing of STDs Market Segmentation
Disease Type- Chlamydia
- Gonorrhea
- Herpes simplex virus
- Syphilis
- Human papillomavirus
- other diseases
- Laboratory Testing
- Point of care Testing
Strategic Insights
Diagnostic Testing of STDs Market Growth Drivers- Prevalence of STDS Rising: Perhaps one of the biggest drivers behind the growth of diagnostic testing markets is the fact that the incidence of sexually transmitted diseases is rapidly rising across countries in the world. Of late, an increase in cases would cause many persons with STDs to seek testing services. More cases would lead again into the necessity of effective, efficient, and highly accurate diagnosis solutions that will further boost and lead innovative research avenues related to the STD tests.
- State-of-the-Art Technology for Diagnostics: Technological advancements in the diagnosis of diseases include point-of-care rapid tests, molecular diagnostics, and PCR-based tests, which buoy up the STD diagnostic market. This has allowed health providers and the consumers to increasingly rely on newer and faster, more accurate, and less invasive means of testing, leading to higher improvement rates in early detection and prevention of transmission of sexually transmitted diseases.
- Additional Awareness, along with Public Health Initiatives: Demand for diagnostic services results from increased awareness regarding the importance of routine STD checks and efforts aimed at prevention. Health education campaigns and awareness programs increase the rate of testing, especially in high-risk population groups. Awareness is by far the main factor and considerably drives growth in the global STD diagnostics market.
- Emerging Trends Towards Home Testing Kits: This is one of the trends in STD diagnosis. Home test kits allow users to test for STDs without having to go to a healthcare facility. These kits provide convenience, privacy, and accessibility to individuals for testing for STDs. The increasing trend of e-commerce and telemedicine has further propelled this type of trend and made STD testing accessible within limited healthcare facilities.
- Integration of Digital Health Solutions: Integrated digital health solution in diagnostic tests for STDs-with the current mobile application, telemedicine, and online counseling services, patients are now given test results and a follow-up for their care remotely. These developments turn the whole testing experience around by making it more convenient, private, and quick in terms of easy access to drug management plans, and all of these propel demand for STD-induced diagnostic services.
- On Point-of-Care Testing: Point-of-care testing (POC) for STDs is likely to grow in popularity because it provides results rather quickly at the point of the outside-laboratory sampling. While the easiness and accessibility of such tests are much praised, health care providers can diagnose and treat the patient on the premises shortly after the patient complains. This reduces waiting time and enhances care. This trend is particularly favorable in resources-poor 3. settings, thus responsible for the market growth of STD diagnostic testing.
- Going International into The Emerging Markets: Emerging markets would have a massive opportunity in the diagnosis on STDs. The expansion in health access, engagement in sexual health awareness, and the enhancement of infrastructure in public health have enhanced demands for testing of STDs in Asia-Pacific, Latin America, and Africa. The companies could provide them with cost-effective, accessible, and scalable testing solutions that can localize and target market needs.
- Creation of Multiplex Testing Detection Kits: There is more likelihood of creating a multiplex diagnostic kit that can test for many STD types in one go rather than using many kits for one measure. This type of testing not only makes it easier and faster, but also minimizes discomfort to the patient and the cost of healthcare provided. Apart from the lowering cost of diagnosis, more value is placed on multiplex kits due to the fast diagnosis and simplification of the testing course, particularly in clinics and point of care settings.
- Partnership with Telemedicine Platforms: The telemedicine platforms can thus be a good avenue for STD testing services. Diagnostic companies could work with telemedicine providers to provide remote consultations, home testing kits, and online treatment plans. Such partnerships may also result in increased access to testing among underserved populations, while the need for confidentiality and convenience is expected to drive growth in the STD diagnostic market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Diagnostic Testing of STDs 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 Diagnostic Testing of STDs 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.
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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
The market is expected to grow at a CAGR of 5.5%
The North America region accounts for highest revenue share Diagnostic Testing of STDs Market
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional/country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
Abbott laboratories, Becton Dickinson Company, BioMerieux, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation are the major companies operating in the Diagnostic Testing of STDs Market
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Lack of Awareness and Education is the major factors hampering the Diagnostic Testing of STDs Market growth
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Diagnostic Testing Of STDs Market - By Disease Type
1.3.2 Diagnostic Testing Of STDs Market - By Testing
1.3.3 Diagnostic Testing Of STDs Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DIAGNOSTIC TESTING OF STDs 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. DIAGNOSTIC TESTING OF STDs 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. DIAGNOSTIC TESTING OF STDs MARKET - GLOBAL MARKET ANALYSIS
6.1. DIAGNOSTIC TESTING OF STDs - GLOBAL MARKET OVERVIEW
6.2. DIAGNOSTIC TESTING OF STDs - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. DIAGNOSTIC TESTING OF STDs MARKET - REVENUE AND FORECASTS TO 2028 - DISEASE TYPE
7.1. OVERVIEW
7.2. DISEASE TYPE MARKET FORECASTS AND ANALYSIS
7.3. CHLAMYDIA
7.3.1. Overview
7.3.2. chlamydia Market Forecast and Analysis
7.4. GONORRHEA
7.4.1. Overview
7.4.2. gonorrhea Market Forecast and Analysis
7.5. HERPES SIMPLEX VIRUS
7.5.1. Overview
7.5.2. herpes simplex virus Market Forecast and Analysis
7.6. SYPHILIS
7.6.1. Overview
7.6.2. syphilis Market Forecast and Analysis
7.7. HUMAN PAPILLOMAVIRUS (HPV) AND OTHER DISEASES
7.7.1. Overview
7.7.2. human papillomavirus (HPV) and other diseases Market Forecast and Analysis
8. DIAGNOSTIC TESTING OF STDs MARKET - REVENUE AND FORECASTS TO 2028 - TESTING
8.1. OVERVIEW
8.2. TESTING MARKET FORECASTS AND ANALYSIS
8.3. LABORATORY TESTING
8.3.1. Overview
8.3.2. Laboratory Testing Market Forecast and Analysis
8.4. POINT OF CARE (POC) TESTING
8.4.1. Overview
8.4.2. Point of care (POC) Testing Market Forecast and Analysis
9. DIAGNOSTIC TESTING OF STDs MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Diagnostic Testing Of STDs Market Overview
9.1.2 North America Diagnostic Testing Of STDs Market Forecasts and Analysis
9.1.3 North America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Disease Type
9.1.4 North America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Testing
9.1.5 North America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Countries
9.1.5.1 United States Diagnostic Testing Of STDs Market
9.1.5.1.1 United States Diagnostic Testing Of STDs Market by Disease Type
9.1.5.1.2 United States Diagnostic Testing Of STDs Market by Testing
9.1.5.2 Canada Diagnostic Testing Of STDs Market
9.1.5.2.1 Canada Diagnostic Testing Of STDs Market by Disease Type
9.1.5.2.2 Canada Diagnostic Testing Of STDs Market by Testing
9.1.5.3 Mexico Diagnostic Testing Of STDs Market
9.1.5.3.1 Mexico Diagnostic Testing Of STDs Market by Disease Type
9.1.5.3.2 Mexico Diagnostic Testing Of STDs Market by Testing
9.2. EUROPE
9.2.1 Europe Diagnostic Testing Of STDs Market Overview
9.2.2 Europe Diagnostic Testing Of STDs Market Forecasts and Analysis
9.2.3 Europe Diagnostic Testing Of STDs Market Forecasts and Analysis - By Disease Type
9.2.4 Europe Diagnostic Testing Of STDs Market Forecasts and Analysis - By Testing
9.2.5 Europe Diagnostic Testing Of STDs Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Diagnostic Testing Of STDs Market
9.2.5.1.1 Germany Diagnostic Testing Of STDs Market by Disease Type
9.2.5.1.2 Germany Diagnostic Testing Of STDs Market by Testing
9.2.5.2 France Diagnostic Testing Of STDs Market
9.2.5.2.1 France Diagnostic Testing Of STDs Market by Disease Type
9.2.5.2.2 France Diagnostic Testing Of STDs Market by Testing
9.2.5.3 Italy Diagnostic Testing Of STDs Market
9.2.5.3.1 Italy Diagnostic Testing Of STDs Market by Disease Type
9.2.5.3.2 Italy Diagnostic Testing Of STDs Market by Testing
9.2.5.4 Spain Diagnostic Testing Of STDs Market
9.2.5.4.1 Spain Diagnostic Testing Of STDs Market by Disease Type
9.2.5.4.2 Spain Diagnostic Testing Of STDs Market by Testing
9.2.5.5 United Kingdom Diagnostic Testing Of STDs Market
9.2.5.5.1 United Kingdom Diagnostic Testing Of STDs Market by Disease Type
9.2.5.5.2 United Kingdom Diagnostic Testing Of STDs Market by Testing
9.2.5.6 Rest of Europe Diagnostic Testing Of STDs Market
9.2.5.6.1 Rest of Europe Diagnostic Testing Of STDs Market by Disease Type
9.2.5.6.2 Rest of Europe Diagnostic Testing Of STDs Market by Testing
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Diagnostic Testing Of STDs Market Overview
9.3.2 Asia-Pacific Diagnostic Testing Of STDs Market Forecasts and Analysis
9.3.3 Asia-Pacific Diagnostic Testing Of STDs Market Forecasts and Analysis - By Disease Type
9.3.4 Asia-Pacific Diagnostic Testing Of STDs Market Forecasts and Analysis - By Testing
9.3.5 Asia-Pacific Diagnostic Testing Of STDs Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Diagnostic Testing Of STDs Market
9.3.5.1.1 Australia Diagnostic Testing Of STDs Market by Disease Type
9.3.5.1.2 Australia Diagnostic Testing Of STDs Market by Testing
9.3.5.2 China Diagnostic Testing Of STDs Market
9.3.5.2.1 China Diagnostic Testing Of STDs Market by Disease Type
9.3.5.2.2 China Diagnostic Testing Of STDs Market by Testing
9.3.5.3 India Diagnostic Testing Of STDs Market
9.3.5.3.1 India Diagnostic Testing Of STDs Market by Disease Type
9.3.5.3.2 India Diagnostic Testing Of STDs Market by Testing
9.3.5.4 Japan Diagnostic Testing Of STDs Market
9.3.5.4.1 Japan Diagnostic Testing Of STDs Market by Disease Type
9.3.5.4.2 Japan Diagnostic Testing Of STDs Market by Testing
9.3.5.5 South Korea Diagnostic Testing Of STDs Market
9.3.5.5.1 South Korea Diagnostic Testing Of STDs Market by Disease Type
9.3.5.5.2 South Korea Diagnostic Testing Of STDs Market by Testing
9.3.5.6 Rest of Asia-Pacific Diagnostic Testing Of STDs Market
9.3.5.6.1 Rest of Asia-Pacific Diagnostic Testing Of STDs Market by Disease Type
9.3.5.6.2 Rest of Asia-Pacific Diagnostic Testing Of STDs Market by Testing
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Diagnostic Testing Of STDs Market Overview
9.4.2 Middle East and Africa Diagnostic Testing Of STDs Market Forecasts and Analysis
9.4.3 Middle East and Africa Diagnostic Testing Of STDs Market Forecasts and Analysis - By Disease Type
9.4.4 Middle East and Africa Diagnostic Testing Of STDs Market Forecasts and Analysis - By Testing
9.4.5 Middle East and Africa Diagnostic Testing Of STDs Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Diagnostic Testing Of STDs Market
9.4.5.1.1 South Africa Diagnostic Testing Of STDs Market by Disease Type
9.4.5.1.2 South Africa Diagnostic Testing Of STDs Market by Testing
9.4.5.2 Saudi Arabia Diagnostic Testing Of STDs Market
9.4.5.2.1 Saudi Arabia Diagnostic Testing Of STDs Market by Disease Type
9.4.5.2.2 Saudi Arabia Diagnostic Testing Of STDs Market by Testing
9.4.5.3 U.A.E Diagnostic Testing Of STDs Market
9.4.5.3.1 U.A.E Diagnostic Testing Of STDs Market by Disease Type
9.4.5.3.2 U.A.E Diagnostic Testing Of STDs Market by Testing
9.4.5.4 Rest of Middle East and Africa Diagnostic Testing Of STDs Market
9.4.5.4.1 Rest of Middle East and Africa Diagnostic Testing Of STDs Market by Disease Type
9.4.5.4.2 Rest of Middle East and Africa Diagnostic Testing Of STDs Market by Testing
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Diagnostic Testing Of STDs Market Overview
9.5.2 South and Central America Diagnostic Testing Of STDs Market Forecasts and Analysis
9.5.3 South and Central America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Disease Type
9.5.4 South and Central America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Testing
9.5.5 South and Central America Diagnostic Testing Of STDs Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Diagnostic Testing Of STDs Market
9.5.5.1.1 Brazil Diagnostic Testing Of STDs Market by Disease Type
9.5.5.1.2 Brazil Diagnostic Testing Of STDs Market by Testing
9.5.5.2 Argentina Diagnostic Testing Of STDs Market
9.5.5.2.1 Argentina Diagnostic Testing Of STDs Market by Disease Type
9.5.5.2.2 Argentina Diagnostic Testing Of STDs Market by Testing
9.5.5.3 Rest of South and Central America Diagnostic Testing Of STDs Market
9.5.5.3.1 Rest of South and Central America Diagnostic Testing Of STDs Market by Disease Type
9.5.5.3.2 Rest of South and Central America Diagnostic Testing Of STDs Market by Testing
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. DIAGNOSTIC TESTING OF STDs MARKET, KEY COMPANY PROFILES
11.1. ABBOTT LABORATORIES
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. BECTON DICKINSON COMPANY
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. BIOMéRIEUX, INC.
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. BIO-RAD LABORATORIES, INC.
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. DANAHER CORPORATION
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. DIASORIN MOLECULAR LLC, HOLOGIC, INC.
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. ORASURE TECHNOLOGIES, INC.
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. ROCHE HOLDING AG
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. THERMO FISHER SCIENTIFIC INC.
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
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Abbott laboratories
2.Becton Dickinson Company
3.BioMérieux, Inc.
4.Bio-Rad Laboratories, Inc.
5.Danaher Corporation
6.Diasorin Molecular LLC, Hologic, Inc.
7.Orasure Technologies, Inc.
8.Roche Holding AG
9.Thermo Fisher Scientific Inc.
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.