Genetic Engineering Market Forecast, Trends, Scope by 2031
The Genetic Engineering Market is expected to register a CAGR of 12.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented based on Technology (CRISPR, TALEN, ZFN, Antisense, Other Technologies); Application (Cell line Engineering, Genetic Engineering, Diagnostics and Therapeutics); End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Contract Research Organizations). The global analysis is further broken down at the regional level and major countries. 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 Genetic Engineering 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.
Genetic Engineering Market Segmentation
Technology- CRISPR
- TALEN
- ZFN
- Antisense
- Other Technologies
- Cell line Engineering
- Genetic Engineering
- Diagnostics and Therapeutics
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Contract Research Organizations
- 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
Genetic Engineering Market Growth Drivers- Advancements in Gene Editing Technologies: The development of revolutionary technologies like CRISPR-Cas9 has significantly enhanced the precision and efficiency of gene editing, opening new avenues for research and applications.
- Rising Prevalence of Chronic Diseases: The increasing incidence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is driving the demand for novel therapeutic approaches, including gene therapies.
- Growing Global Population and Aging Demographics: The growing global population and an aging demographic are increasing the burden of healthcare systems, creating a need for innovative solutions to address healthcare challenges.
- Personalized Medicine: Gene editing technologies will enable personalized medicine by allowing for the development of targeted therapies tailored to individual genetic profiles.
- Synthetic Biology: The field of synthetic biology, which involves designing and engineering new biological systems, is rapidly evolving and holds immense potential for applications in various sectors.
- Ethical Considerations and Regulatory Frameworks: The ethical implications and regulatory
- Agricultural Biotechnology: Gene editing technologies can be used to improve crop yields, enhance nutritional value, and develop disease-resistant crops, addressing global food security challenges.
- Biopharmaceuticals: Gene therapy, gene editing, and other genetic engineering techniques offer promising avenues for the development of novel and more effective treatments for various diseases.
- Industrial Biotechnology: Genetic engineering can be applied to develop new industrial processes, improve biofuel production, and create novel biomaterials with enhanced properties.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Genetic Engineering 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 Genetic Engineering 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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- 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
Genetic Engineering Market is expected to grow at a CAGR of 12.5% between 2023-2031
The driving factors impacting the Genetic Engineering Market are: Advancements in Gene Editing Technologies, Rising Prevalence of Chronic Diseases and Growing Global Population and Aging Demographics
The future trends of the Genetic Engineering Market are: Personalized Medicine, Synthetic Biology and Ethical Considerations and Regulatory Frameworks
The leading players are: Integrated DNA Technologies, Inc, Thermo Fisher Scientific Inc, Horizon Discovery Group Plc, Merck KGaA, Transposagen Biopharmaceuticals Inc, New England Biolabs, Genscript Biotech Corporation, Lonza Group, Origene Technologies, Inc, Bio-Techne
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 Genetic Engineering Market - By Technology
1.3.2 Genetic Engineering Market - By Application
1.3.3 Genetic Engineering Market - By End User
1.3.4 Genetic Engineering Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GENETIC ENGINEERING 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. GENETIC ENGINEERING 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. GENETIC ENGINEERING MARKET - GLOBAL MARKET ANALYSIS
6.1. GENETIC ENGINEERING - GLOBAL MARKET OVERVIEW
6.2. GENETIC ENGINEERING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. GENETIC ENGINEERING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. CRISPR
7.3.1. Overview
7.3.2. CRISPR Market Forecast and Analysis
7.4. TALEN
7.4.1. Overview
7.4.2. TALEN Market Forecast and Analysis
7.5. ZFN
7.5.1. Overview
7.5.2. ZFN Market Forecast and Analysis
7.6. ANTISENSE
7.6.1. Overview
7.6.2. Antisense Market Forecast and Analysis
7.7. OTHER TECHNOLOGIES
7.7.1. Overview
7.7.2. Other Technologies Market Forecast and Analysis
8. GENETIC ENGINEERING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CELL LINE ENGINEERING
8.3.1. Overview
8.3.2. Cell line Engineering Market Forecast and Analysis
8.4. GENETIC ENGINEERING
8.4.1. Overview
8.4.2. Genetic Engineering Market Forecast and Analysis
8.5. DIAGNOSTICS AND THERAPEUTICS
8.5.1. Overview
8.5.2. Diagnostics and Therapeutics Market Forecast and Analysis
9. GENETIC ENGINEERING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
9.3.1. Overview
9.3.2. Pharmaceutical and Biotechnology Companies Market Forecast and Analysis
9.4. ACADEMIC AND RESEARCH INSTITUTES
9.4.1. Overview
9.4.2. Academic and Research Institutes Market Forecast and Analysis
9.5. CONTRACT RESEARCH ORGANIZATIONS
9.5.1. Overview
9.5.2. Contract Research Organizations Market Forecast and Analysis
10. GENETIC ENGINEERING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Genetic Engineering Market Overview
10.1.2 North America Genetic Engineering Market Forecasts and Analysis
10.1.3 North America Genetic Engineering Market Forecasts and Analysis - By Technology
10.1.4 North America Genetic Engineering Market Forecasts and Analysis - By Application
10.1.5 North America Genetic Engineering Market Forecasts and Analysis - By End User
10.1.6 North America Genetic Engineering Market Forecasts and Analysis - By Countries
10.1.6.1 United States Genetic Engineering Market
10.1.6.1.1 United States Genetic Engineering Market by Technology
10.1.6.1.2 United States Genetic Engineering Market by Application
10.1.6.1.3 United States Genetic Engineering Market by End User
10.1.6.2 Canada Genetic Engineering Market
10.1.6.2.1 Canada Genetic Engineering Market by Technology
10.1.6.2.2 Canada Genetic Engineering Market by Application
10.1.6.2.3 Canada Genetic Engineering Market by End User
10.1.6.3 Mexico Genetic Engineering Market
10.1.6.3.1 Mexico Genetic Engineering Market by Technology
10.1.6.3.2 Mexico Genetic Engineering Market by Application
10.1.6.3.3 Mexico Genetic Engineering Market by End User
10.2. EUROPE
10.2.1 Europe Genetic Engineering Market Overview
10.2.2 Europe Genetic Engineering Market Forecasts and Analysis
10.2.3 Europe Genetic Engineering Market Forecasts and Analysis - By Technology
10.2.4 Europe Genetic Engineering Market Forecasts and Analysis - By Application
10.2.5 Europe Genetic Engineering Market Forecasts and Analysis - By End User
10.2.6 Europe Genetic Engineering Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Genetic Engineering Market
10.2.6.1.1 Germany Genetic Engineering Market by Technology
10.2.6.1.2 Germany Genetic Engineering Market by Application
10.2.6.1.3 Germany Genetic Engineering Market by End User
10.2.6.2 France Genetic Engineering Market
10.2.6.2.1 France Genetic Engineering Market by Technology
10.2.6.2.2 France Genetic Engineering Market by Application
10.2.6.2.3 France Genetic Engineering Market by End User
10.2.6.3 Italy Genetic Engineering Market
10.2.6.3.1 Italy Genetic Engineering Market by Technology
10.2.6.3.2 Italy Genetic Engineering Market by Application
10.2.6.3.3 Italy Genetic Engineering Market by End User
10.2.6.4 Spain Genetic Engineering Market
10.2.6.4.1 Spain Genetic Engineering Market by Technology
10.2.6.4.2 Spain Genetic Engineering Market by Application
10.2.6.4.3 Spain Genetic Engineering Market by End User
10.2.6.5 United Kingdom Genetic Engineering Market
10.2.6.5.1 United Kingdom Genetic Engineering Market by Technology
10.2.6.5.2 United Kingdom Genetic Engineering Market by Application
10.2.6.5.3 United Kingdom Genetic Engineering Market by End User
10.2.6.6 Rest of Europe Genetic Engineering Market
10.2.6.6.1 Rest of Europe Genetic Engineering Market by Technology
10.2.6.6.2 Rest of Europe Genetic Engineering Market by Application
10.2.6.6.3 Rest of Europe Genetic Engineering Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Genetic Engineering Market Overview
10.3.2 Asia-Pacific Genetic Engineering Market Forecasts and Analysis
10.3.3 Asia-Pacific Genetic Engineering Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Genetic Engineering Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Genetic Engineering Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Genetic Engineering Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Genetic Engineering Market
10.3.6.1.1 Australia Genetic Engineering Market by Technology
10.3.6.1.2 Australia Genetic Engineering Market by Application
10.3.6.1.3 Australia Genetic Engineering Market by End User
10.3.6.2 China Genetic Engineering Market
10.3.6.2.1 China Genetic Engineering Market by Technology
10.3.6.2.2 China Genetic Engineering Market by Application
10.3.6.2.3 China Genetic Engineering Market by End User
10.3.6.3 India Genetic Engineering Market
10.3.6.3.1 India Genetic Engineering Market by Technology
10.3.6.3.2 India Genetic Engineering Market by Application
10.3.6.3.3 India Genetic Engineering Market by End User
10.3.6.4 Japan Genetic Engineering Market
10.3.6.4.1 Japan Genetic Engineering Market by Technology
10.3.6.4.2 Japan Genetic Engineering Market by Application
10.3.6.4.3 Japan Genetic Engineering Market by End User
10.3.6.5 South Korea Genetic Engineering Market
10.3.6.5.1 South Korea Genetic Engineering Market by Technology
10.3.6.5.2 South Korea Genetic Engineering Market by Application
10.3.6.5.3 South Korea Genetic Engineering Market by End User
10.3.6.6 Rest of Asia-Pacific Genetic Engineering Market
10.3.6.6.1 Rest of Asia-Pacific Genetic Engineering Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Genetic Engineering Market by Application
10.3.6.6.3 Rest of Asia-Pacific Genetic Engineering Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Genetic Engineering Market Overview
10.4.2 Middle East and Africa Genetic Engineering Market Forecasts and Analysis
10.4.3 Middle East and Africa Genetic Engineering Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Genetic Engineering Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Genetic Engineering Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Genetic Engineering Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Genetic Engineering Market
10.4.6.1.1 South Africa Genetic Engineering Market by Technology
10.4.6.1.2 South Africa Genetic Engineering Market by Application
10.4.6.1.3 South Africa Genetic Engineering Market by End User
10.4.6.2 Saudi Arabia Genetic Engineering Market
10.4.6.2.1 Saudi Arabia Genetic Engineering Market by Technology
10.4.6.2.2 Saudi Arabia Genetic Engineering Market by Application
10.4.6.2.3 Saudi Arabia Genetic Engineering Market by End User
10.4.6.3 U.A.E Genetic Engineering Market
10.4.6.3.1 U.A.E Genetic Engineering Market by Technology
10.4.6.3.2 U.A.E Genetic Engineering Market by Application
10.4.6.3.3 U.A.E Genetic Engineering Market by End User
10.4.6.4 Rest of Middle East and Africa Genetic Engineering Market
10.4.6.4.1 Rest of Middle East and Africa Genetic Engineering Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Genetic Engineering Market by Application
10.4.6.4.3 Rest of Middle East and Africa Genetic Engineering Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Genetic Engineering Market Overview
10.5.2 South and Central America Genetic Engineering Market Forecasts and Analysis
10.5.3 South and Central America Genetic Engineering Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Genetic Engineering Market Forecasts and Analysis - By Application
10.5.5 South and Central America Genetic Engineering Market Forecasts and Analysis - By End User
10.5.6 South and Central America Genetic Engineering Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Genetic Engineering Market
10.5.6.1.1 Brazil Genetic Engineering Market by Technology
10.5.6.1.2 Brazil Genetic Engineering Market by Application
10.5.6.1.3 Brazil Genetic Engineering Market by End User
10.5.6.2 Argentina Genetic Engineering Market
10.5.6.2.1 Argentina Genetic Engineering Market by Technology
10.5.6.2.2 Argentina Genetic Engineering Market by Application
10.5.6.2.3 Argentina Genetic Engineering Market by End User
10.5.6.3 Rest of South and Central America Genetic Engineering Market
10.5.6.3.1 Rest of South and Central America Genetic Engineering Market by Technology
10.5.6.3.2 Rest of South and Central America Genetic Engineering Market by Application
10.5.6.3.3 Rest of South and Central America Genetic Engineering Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL GENETIC ENGINEERING 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. GENETIC ENGINEERING MARKET, KEY COMPANY PROFILES
13.1. INTEGRATED DNA TECHNOLOGIES, 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. THERMO FISHER SCIENTIFIC 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. MERCK KGAA
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. HORIZON DISCOVERY GROUP PLC
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. TRANSPOSAGEN BIOPHARMACEUTICALS 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. NEW ENGLAND BIOLABS
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. GENSCRIPT BIOTECH 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. LONZA GROUP
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. ORIGENE TECHNOLOGIES, INC
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. BIO-TECHNE
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. Integrated DNA Technologies, Inc
2. Thermo Fisher Scientific Inc
3. Horizon Discovery Group Plc
4. Merck KGaA
5. Transposagen Biopharmaceuticals Inc
6. New England Biolabs
7. Genscript Biotech Corporation
8. Lonza Group
9. Origene Technologies, Inc
10. Bio-Techne
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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