High Content Screening Market Key Findings by 2031
[Research Report] The High Content Screening market was valued at US$ 1,670.96 million in 2022 to US$ 2,861.56 million by 2031; it is estimated to record a CAGR of 7.2% from 2022 to 2031.
Market Insights and Analyst View:
High-content screening (HCS) is a high-throughput format for cell biology applications that combines quantitative data analysis and automated imaging for large-scale applications, including systems biology and drug discovery. Currently, HCS mostly serves as a fluorescence imaging technique, usually simultaneously measuring a small number of fluorochromes. The drug discovery industry has witnessed a significant surge in the use of HCS due to advancements in automated screening technologies and fluorescence microscopy in recent years. Using an automated fluorescence microscope to image individual cells' subcellular and molecular activities, HCS offers the possibility of quickly screening chemical or siRNA libraries. The most obvious uses of HCS are in primary screenings for possible leads, compounds that can be further refined into therapeutic candidates, or in measures of cellular morphology or other cellular activities that are difficult to measure with a single endpoint, including spatially localized proteins.
Growth Drivers and Challenges:
An increase in research and development activities is driving growth in the market. High-content screening provides biological answers to academic and pharmaceutical questions. Hepatotoxicity, cardiotoxicity, nephrotoxicity, developmental toxicity, genotoxicity, and neurotoxicity are in vitro toxicology applications that employ HCS methodologies. This makes several recently created cellular assay models possible, such as tissues-on-a-chip methods, three-dimensional (3D) cell models, and induced pluripotent stem cells (iPSCs). HCS is also utilized via image data analysis tools, coupling with high-content assays, and genome editing methods (e.g., CRISPR/Cas9). These methods significantly advance understanding biological processes, creating medications, and simplifying toxicological research.
The HCS market is expanding globally due to research and development in drug discovery. For example, Purdue University, a public land-grant research university, published a report in February 2021 evaluating the impact of IL-27, a heterodimeric cytokine made up of subunits IL-27p28 and EBI3 (Epstein-Barr virus-induced gene 3), on alterations in the gene expression of TC2R prostate adenocarcinoma cells. The TC2R prostate cancer cells' gene expression was altered by RNAi (RNA interference), which was found using high-throughput sequencing (HCS). RNAi targets messenger RNAs that code for those particular proteins.
Despite the enormous processing power, fast connectivity, and reasonably priced data storage that are accessible with modern computers, there are still several important technological challenges that must be made while applying HCS. HCS practitioners frequently discover that third-party analysis software is required to enhance the efficiency of an infrequent test, even though many instruments come with strong, user-friendly image analysis software. In addition, many solutions for data storage, data transfer, and data annotation do not transition well between platforms since there is a lack of standards for image and data formats.
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High Content Screening Market: Strategic Insights
Market Size Value in US$ 1,670.96 million in 2022 Market Size Value by US$ 2,861.56 million by 2030 Growth rate CAGR of 7.2% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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High Content Screening Market: Strategic Insights
Market Size Value in | US$ 1,670.96 million in 2022 |
Market Size Value by | US$ 2,861.56 million by 2030 |
Growth rate | CAGR of 7.2% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
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Speak to AnalystReport Segmentation and Scope:
The high content screening market is segmented into product, application, and end user. By product, the market is segmented into instruments, consumables, software, services, and accessories. By application, the high-content screening market is categorized into primary screening and secondary screening, target identification and validation, toxicity studies, compounds, and others. In terms of end users, the high-content screening market is segmented into pharmaceutical and biotechnology companies, contract research organizations (CROs), and academic and government institutes. The high content screening market, based on geography, is categorized into North America (US, Canada, and Mexico), Europe (France, Germany, Italy, UK, Spain, Benelux, Austria, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, Malaysia, Indonesia, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, Rest of South & Central America)
Segmental Analysis:
Based on product, the global high-content screening market is segmented into instruments, consumables, software, services, and accessories. The instruments segment held the largest share of the market in 2022. Since high-content screening technologies are used to visualize and interpret cellular images, they are essential for toxicology, drug development, and basic cell biology research. These state-of-the-art devices have many features, such as high throughput capability, automated imaging and analysis, and the ability to do difficult experiments.
High-content screening software is used in picture analysis, data management, and assay design. The time and cost of manual analysis can be reduced using sophisticated software that can automate certain high-content screening processes, thanks to artificial intelligence and machine learning breakthroughs. A further factor contributing to the expected strong demand for high-content screening software is the growing interest in precision and personalized medicine, which can assist in creating medicines specifically tailored to individual patients' needs.
By application, the high-content screening market is segmented into target identification and validation, primary screening and secondary screening, toxicity studies, compounds, and others. 2022 the toxicity studies segment is estimated to grow at the highest CAGR. Because high-content screening can identify compounds that damage cells, it is essential for toxicity investigations. A range of tests can be performed to assess a substance's effects on cell viability, proliferation, and apoptosis. Software and technologies for high-content screening can be used for these assays. Furthermore, high-content screening helps researchers identify any safety concerns early in the drug development process by examining the toxicity processes of chemicals.
By end user, the high content screening market is categorized into academic and government institutes, pharmaceuticals and biotechnology companies, and contract research organizations (CROs). The pharmaceuticals and biotechnology companies segment held the largest share of the market in 2022. High-content screening dominates this market because the biotechnology and pharmaceutical industries utilize it extensively in preclinical and clinical investigations. Its use in academia and the pharmaceutical industry has grown to the point where it is now a vital tool for drug research and discovery. High-content assays have a greater potential to aid in drug development now that cellular assay technologies have advanced to the point where three-dimensional (3D) cultures, genome editing tools (e.g., CRISPR/Cas9), and induced pluripotent stem cells (iPSCs).
Regional Analysis:
Based on geography, the high content screening market is categorized into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. Asia Pacific is anticipated to register the highest CAGR during the forecast period. As a result of the growing need for drug research and development in emerging countries such as China and India, the high-content screening products market in the Asia Pacific is expected to grow quickly.
High Content Screening Market Trend:
Automated Microscope Based High Content Screening
Automated microscope-based high-content screening has gained substantial momentum recently due to its capability to study many features simultaneously in complicated biology systems. HCS is used all along the preclinical drug discovery pipeline. It can identify and validate new drug targets or lead compounds, predict in vivo toxicity, and suggest pathways or molecular targets of compounds. HCS also used to support clinical trials, such as companion diagnostics. Consequent High-Content Screening (HCS) solutions for testing the possible toxicity of chemicals and complicated substances are being implemented by pharmaceutical companies to improve in-vitro toxicity testing by reducing the cost and time. The increasing number of CROs providing HCS outsourcing services and applying HCS in personalized medicine presents a significant trend in the market. High-content screening microscopy is a rapidly evolving technology that can be applied to extract rich quantitative information about cell form and function.
Competitive Landscape and Key Companies:
A few of the prominent players operating in the global high content screening market are GE Healthcare, Danaher Corporation, Thermo Fisher Scientific Inc., PerkinElmer, Tecan Group, Bio Tek Instruments Inc., Becton, Dickinson, Bio-Rad Laboratories, Yokogawa Electric Corporation, and Merk Millipore. These companies focus on developing new technologies, advancing existing products, expanding their geographic footprint to meet the growing consumer demand worldwide, and expanding their product range in specialty portfolios. Companies operating in the global high-content screening market implement various inorganic and organic strategies. A few of them are mentioned below:
- In September 2022, BD (Becton, Dickinson, and Company) launched BD Research Cloud, a cloud-based software solution intended to streamline the flow cytometry workflow to empower higher-quality experiments with faster time to insight for scientists working across a range of disciplines, including virology, immunology, oncology, and infectious disease monitoring.
- In March 2022, Beckman Coulter Life Sciences introduced a powerful solution to manual sample preparation and data management bottlenecks in clinical flow cytometry: the CellMek SPS. This fully automated sample preparation system (SPS) offers on-demand processing for many sample types to help laboratories expand their capabilities.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 High Content Screening Market - By Product
1.3.2 High Content Screening Market - By Application
1.3.3 High Content Screening Market - By End User
1.3.4 High Content Screening Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. HIGH CONTENT SCREENING 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. HIGH CONTENT SCREENING 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. HIGH CONTENT SCREENING MARKET - GLOBAL MARKET ANALYSIS
6.1. HIGH CONTENT SCREENING - GLOBAL MARKET OVERVIEW
6.2. HIGH CONTENT SCREENING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HIGH CONTENT SCREENING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. INSTRUMENTS
7.3.1. Overview
7.3.2. Instruments Market Forecast and Analysis
7.3.3. Cell Imaging & Analysis Systems Market
7.3.3.1. Overview
7.3.3.2. Cell Imaging & Analysis Systems Market Forecast and Analysis
7.3.4. Flow Cytometers Market
7.3.4.1. Overview
7.3.4.2. Flow Cytometers Market Forecast and Analysis
7.4. CONSUMABLES
7.4.1. Overview
7.4.2. Consumables Market Forecast and Analysis
7.4.3. Reagents & Assay Kits Market
7.4.3.1. Overview
7.4.3.2. Reagents & Assay Kits Market Forecast and Analysis
7.4.4. Microplates Market
7.4.4.1. Overview
7.4.4.2. Microplates Market Forecast and Analysis
7.4.5. Other Consumables Market
7.4.5.1. Overview
7.4.5.2. Other Consumables Market Forecast and Analysis
7.5. SOFTWARE
7.5.1. Overview
7.5.2. Software Market Forecast and Analysis
7.6. SERVICES
7.6.1. Overview
7.6.2. Services Market Forecast and Analysis
7.7. ACCESSORIES
7.7.1. Overview
7.7.2. Accessories Market Forecast and Analysis
8. HIGH CONTENT SCREENING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PRIMARY & SECONDARY SCREENING
8.3.1. Overview
8.3.2. Primary & Secondary Screening Market Forecast and Analysis
8.4. TARGET IDENTIFICATION & VALIDATION
8.4.1. Overview
8.4.2. Target Identification & Validation Market Forecast and Analysis
8.5. TOXICITY STUDIES
8.5.1. Overview
8.5.2. Toxicity Studies Market Forecast and Analysis
8.6. COMPOUND PROFILING
8.6.1. Overview
8.6.2. Compound Profiling Market Forecast and Analysis
8.7. OTHER APPLICATIONS
8.7.1. Overview
8.7.2. Other Applications Market Forecast and Analysis
9. HIGH CONTENT SCREENING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES
9.3.1. Overview
9.3.2. Pharmaceutical & Biotechnology Companies Market Forecast and Analysis
9.4. ACADEMIC & GOVERNMENT INSTITUTES
9.4.1. Overview
9.4.2. Academic & Government 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. HIGH CONTENT SCREENING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America High Content Screening Market Overview
10.1.2 North America High Content Screening Market Forecasts and Analysis
10.1.3 North America High Content Screening Market Forecasts and Analysis - By Product
10.1.4 North America High Content Screening Market Forecasts and Analysis - By Application
10.1.5 North America High Content Screening Market Forecasts and Analysis - By End User
10.1.6 North America High Content Screening Market Forecasts and Analysis - By Countries
10.1.6.1 United States High Content Screening Market
10.1.6.1.1 United States High Content Screening Market by Product
10.1.6.1.2 United States High Content Screening Market by Application
10.1.6.1.3 United States High Content Screening Market by End User
10.1.6.2 Canada High Content Screening Market
10.1.6.2.1 Canada High Content Screening Market by Product
10.1.6.2.2 Canada High Content Screening Market by Application
10.1.6.2.3 Canada High Content Screening Market by End User
10.1.6.3 Mexico High Content Screening Market
10.1.6.3.1 Mexico High Content Screening Market by Product
10.1.6.3.2 Mexico High Content Screening Market by Application
10.1.6.3.3 Mexico High Content Screening Market by End User
10.2. EUROPE
10.2.1 Europe High Content Screening Market Overview
10.2.2 Europe High Content Screening Market Forecasts and Analysis
10.2.3 Europe High Content Screening Market Forecasts and Analysis - By Product
10.2.4 Europe High Content Screening Market Forecasts and Analysis - By Application
10.2.5 Europe High Content Screening Market Forecasts and Analysis - By End User
10.2.6 Europe High Content Screening Market Forecasts and Analysis - By Countries
10.2.6.1 Germany High Content Screening Market
10.2.6.1.1 Germany High Content Screening Market by Product
10.2.6.1.2 Germany High Content Screening Market by Application
10.2.6.1.3 Germany High Content Screening Market by End User
10.2.6.2 France High Content Screening Market
10.2.6.2.1 France High Content Screening Market by Product
10.2.6.2.2 France High Content Screening Market by Application
10.2.6.2.3 France High Content Screening Market by End User
10.2.6.3 Italy High Content Screening Market
10.2.6.3.1 Italy High Content Screening Market by Product
10.2.6.3.2 Italy High Content Screening Market by Application
10.2.6.3.3 Italy High Content Screening Market by End User
10.2.6.4 Spain High Content Screening Market
10.2.6.4.1 Spain High Content Screening Market by Product
10.2.6.4.2 Spain High Content Screening Market by Application
10.2.6.4.3 Spain High Content Screening Market by End User
10.2.6.5 United Kingdom High Content Screening Market
10.2.6.5.1 United Kingdom High Content Screening Market by Product
10.2.6.5.2 United Kingdom High Content Screening Market by Application
10.2.6.5.3 United Kingdom High Content Screening Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific High Content Screening Market Overview
10.3.2 Asia-Pacific High Content Screening Market Forecasts and Analysis
10.3.3 Asia-Pacific High Content Screening Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific High Content Screening Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific High Content Screening Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific High Content Screening Market Forecasts and Analysis - By Countries
10.3.6.1 Australia High Content Screening Market
10.3.6.1.1 Australia High Content Screening Market by Product
10.3.6.1.2 Australia High Content Screening Market by Application
10.3.6.1.3 Australia High Content Screening Market by End User
10.3.6.2 China High Content Screening Market
10.3.6.2.1 China High Content Screening Market by Product
10.3.6.2.2 China High Content Screening Market by Application
10.3.6.2.3 China High Content Screening Market by End User
10.3.6.3 India High Content Screening Market
10.3.6.3.1 India High Content Screening Market by Product
10.3.6.3.2 India High Content Screening Market by Application
10.3.6.3.3 India High Content Screening Market by End User
10.3.6.4 Japan High Content Screening Market
10.3.6.4.1 Japan High Content Screening Market by Product
10.3.6.4.2 Japan High Content Screening Market by Application
10.3.6.4.3 Japan High Content Screening Market by End User
10.3.6.5 South Korea High Content Screening Market
10.3.6.5.1 South Korea High Content Screening Market by Product
10.3.6.5.2 South Korea High Content Screening Market by Application
10.3.6.5.3 South Korea High Content Screening Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa High Content Screening Market Overview
10.4.2 Middle East and Africa High Content Screening Market Forecasts and Analysis
10.4.3 Middle East and Africa High Content Screening Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa High Content Screening Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa High Content Screening Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa High Content Screening Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa High Content Screening Market
10.4.6.1.1 South Africa High Content Screening Market by Product
10.4.6.1.2 South Africa High Content Screening Market by Application
10.4.6.1.3 South Africa High Content Screening Market by End User
10.4.6.2 Saudi Arabia High Content Screening Market
10.4.6.2.1 Saudi Arabia High Content Screening Market by Product
10.4.6.2.2 Saudi Arabia High Content Screening Market by Application
10.4.6.2.3 Saudi Arabia High Content Screening Market by End User
10.4.6.3 U.A.E High Content Screening Market
10.4.6.3.1 U.A.E High Content Screening Market by Product
10.4.6.3.2 U.A.E High Content Screening Market by Application
10.4.6.3.3 U.A.E High Content Screening Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America High Content Screening Market Overview
10.5.2 South and Central America High Content Screening Market Forecasts and Analysis
10.5.3 South and Central America High Content Screening Market Forecasts and Analysis - By Product
10.5.4 South and Central America High Content Screening Market Forecasts and Analysis - By Application
10.5.5 South and Central America High Content Screening Market Forecasts and Analysis - By End User
10.5.6 South and Central America High Content Screening Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil High Content Screening Market
10.5.6.1.1 Brazil High Content Screening Market by Product
10.5.6.1.2 Brazil High Content Screening Market by Application
10.5.6.1.3 Brazil High Content Screening Market by End User
10.5.6.2 Argentina High Content Screening Market
10.5.6.2.1 Argentina High Content Screening Market by Product
10.5.6.2.2 Argentina High Content Screening Market by Application
10.5.6.2.3 Argentina High Content Screening Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. HIGH CONTENT SCREENING MARKET, KEY COMPANY PROFILES
12.1. GENERAL ELECTRIC
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. DANAHER
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. PERKINELMER, INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. THERMO FISHER SCIENTIFIC INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. BD
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. BIOTEK INSTRUMENTS, INC.
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. BIO-RAD LABORATORIES, INC.
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. TECAN TRADING AG
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. MERCK KGAA
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
12.10. YOKOGAWA ELECTRIC CORPORATION
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. GENERAL ELECTRIC
2. Danaher
3. Perkinelmer, Inc.
4. Thermo Fisher Scientific Inc.
5. BD
6. BioTek Instruments, Inc.
7. Bio-Rad Laboratories, Inc.
8. Tecan Trading AG
9. Merck KGaA
10. Yokogawa Electric Corporation
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.