Home Diagnostics Market Trends and Forecast (2021-2031)
The Home Diagnostics Market is expected to register a CAGR of 5.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Test Type (Glucose Monitoring Devices, Pregnancy Test, HIV Test Kits, Cholesterol Detection Test Kits, Drug of Abuse Test Kits, Others); Form (Cassettes, Strips, Midstream, Digital Monitoring Instruments , Tests Panel, Dip Cards); Sample Type (Blood, Urine, Saliva, Others); Distribution Channel (Retail Pharmacies, Drug Stores, Hypermarkets / Supermarkets, Online Pharmacies). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Home Diagnostics 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.
Home Diagnostics Market Segmentation
Test Type- Glucose Monitoring Devices
- Pregnancy Test
- HIV Test Kits
- Cholesterol Detection Test Kits
- Drug of Abuse Test Kits
- Others
- Cassettes
- Strips
- Midstream
- Digital Monitoring Instruments
- Tests Panel
- Dip Cards
- Blood
- Urine
- Saliva
- Others
- Retail Pharmacies
- Drug Stores
- Hypermarkets / Supermarkets
- Online Pharmacies
- Retail Pharmacies
- Drug Stores
- Hypermarkets / Supermarkets
- Online Pharmacies
Strategic Insights
Home Diagnostics Market Growth Drivers- Growing demands of individualized healthcare: The major key driver in the Home Diagnostics market is customized health care demand. Increased needs mean people require a more proactive approach towards monitoring health and tailored treatments according to individuals' needs. Users can make convenient tests at home deliver results that offer instant output toward more prudent health-care decisions leading toward enhanced patient engagement with adherence to a plan.
- Current Technological Trends in Diagnostic Devices: Advances in technology of diagnostic devices give a huge boost to the Home Diagnostics market. The availability of testing kits, smartphones, and telehealth capabilities makes home diagnostics consumer-friendly and easily accessible. Such advances do not only make at-home tests more accurate and reliable but also boost consumer confidence, making more people embrace such solutions for health monitoring and management.
- Increasing Trend of Preventive Healthcare: Preventive care is driving the home diagnostics market. This means people are now focusing on early detection and management of health conditions. Home diagnostic tools are monitoring frequent vital health indicators to determine when potential health problems may develop before they worsen. Such an approach encourages healthy lifestyles and reduces the total cost of healthcare for both individuals and systems, thus being in line with public health.
- Rise of Telehealth Integration: Telehealth integration has been the dominant feature of the Home Diagnostics market. The diagnostic equipment is also coming into being, which has integration facilities with telehealth services since virtual health care is rising. This can help in remote analysis by the healthcare professional and real-time consultancy for the patient while providing effective care to patients. Accessibility and convenience are increased, and during emergencies, medical intervention is timely.
- Growing Usage of Mobile Health Applications: Mobile health applications are changing the Home Diagnostics environment. These apps help track a user's health data, read test results, and obtain health insights from experts. The demand for more control over one's health has been a factor that links diagnostics with mobile technology, further increasing user interaction, facilitating adherence to a regimen of health, and helping with informed decision-making.
- Focus on User-Centric Devices: There is the growing demand to develop user-friendly diagnostic devices targeted toward non-professionals. With the increased trend of easy-to-use, intuitive products requiring little training, it will ensure people can conduct their tests in precision from their homes. Increasing the confidence and satisfaction of users makes the trend more attractive and reachable to a greater population that doesn't possess technical skills.
- Expansion of remote monitoring of patients: Home diagnostics are among the significant opportunities that the market has today since extending remote patient monitoring expands and enables health care to advance through remote monitoring and technology to enable home diagnostic devices within these systems to follow health care and intervene immediately when necessary, thus permitting better care for patients while not growing providers to hospital visits-therefore getting both patients and providers an opportunity at benefiting.
- Rising demand for preventive health solutions: With growing interest in preventive health solutions, Home Diagnostics can seize these opportunities. Consumers are becoming health-conscious and want to be proactive in monitoring their health. A company can capitalize on such demand by offering diagnostic tools at affordable and accessible prices, thus helping the people to identify potential health issues at an early stage and effectively manage their wellness, hence contributing to market growth.
- Biomarker Testing Innovation: There are many interesting development opportunities in the Home Diagnostics market. Advanced biomarker testing, through its constantly changing research, develops more discoveries of biomarkers of other diseases as well, thus providing new diagnostics to be tested at a patient's home and valuable knowledge on health conditions. The firms that take their time and resources to come up with such innovative and sophisticated testing solutions can attract clients to their products since more and more customers want advanced monitoring and preventions of their health-related issues.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Home Diagnostics 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 Home Diagnostics Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to grow at a CAGR of 5.1%
Growing demands of individualized healthcare is the major factors boosting the Home Diagnostics Market growth
The North America region accounts for highest revenue share Home Diagnostics 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 (%)
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
Becton Dickinson and Company, Abbott Laboratories, BTNX Inc., ACON Laboratories Inc., Bionime Corporation, Roche Holding AG, the major companies operating in the Home Diagnostics Market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Home Diagnostics Market - By Test Type
1.3.2 Home Diagnostics Market - By Form
1.3.3 Home Diagnostics Market - By Sample Type
1.3.4 Home Diagnostics Market - By Distribution Channel
1.3.5 Home Diagnostics Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HOME DIAGNOSTICS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. HOME DIAGNOSTICS 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. HOME DIAGNOSTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. HOME DIAGNOSTICS - GLOBAL MARKET OVERVIEW
6.2. HOME DIAGNOSTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HOME DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - TEST TYPE
7.1. OVERVIEW
7.2. TEST TYPE MARKET FORECASTS AND ANALYSIS
7.3. GLUCOSE MONITORING DEVICES
7.3.1. Overview
7.3.2. Glucose Monitoring Devices Market Forecast and Analysis
7.4. PREGNANCY TEST
7.4.1. Overview
7.4.2. Pregnancy Test Market Forecast and Analysis
7.5. HIV TEST KITS
7.5.1. Overview
7.5.2. HIV Test Kits Market Forecast and Analysis
7.6. CHOLESTEROL DETECTION TEST KITS
7.6.1. Overview
7.6.2. Cholesterol Detection Test Kits Market Forecast and Analysis
7.7. DRUG OF ABUSE TEST KITS
7.7.1. Overview
7.7.2. Drug of Abuse Test Kits Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. HOME DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
8.1. OVERVIEW
8.2. FORM MARKET FORECASTS AND ANALYSIS
8.3. CASSETTES
8.3.1. Overview
8.3.2. Cassettes Market Forecast and Analysis
8.4. STRIPS
8.4.1. Overview
8.4.2. Strips Market Forecast and Analysis
8.5. MIDSTREAM
8.5.1. Overview
8.5.2. Midstream Market Forecast and Analysis
8.6. DIGITAL MONITORING INSTRUMENTS
8.6.1. Overview
8.6.2. Digital Monitoring Instruments Market Forecast and Analysis
8.7. TESTS PANEL
8.7.1. Overview
8.7.2. Tests Panel Market Forecast and Analysis
8.8. DIP CARDS
8.8.1. Overview
8.8.2. Dip Cards Market Forecast and Analysis
9. HOME DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - SAMPLE TYPE
9.1. OVERVIEW
9.2. SAMPLE TYPE MARKET FORECASTS AND ANALYSIS
9.3. BLOOD
9.3.1. Overview
9.3.2. Blood Market Forecast and Analysis
9.4. URINE
9.4.1. Overview
9.4.2. Urine Market Forecast and Analysis
9.5. SALIVA
9.5.1. Overview
9.5.2. Saliva Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. HOME DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
10.1. OVERVIEW
10.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
10.3. RETAIL PHARMACIES
10.3.1. Overview
10.3.2. Retail Pharmacies Market Forecast and Analysis
10.4. DRUG STORES
10.4.1. Overview
10.4.2. Drug Stores Market Forecast and Analysis
10.5. HYPERMARKETS / SUPERMARKETS
10.5.1. Overview
10.5.2. Hypermarkets / Supermarkets Market Forecast and Analysis
10.6. ONLINE PHARMACIES
10.6.1. Overview
10.6.2. Online Pharmacies Market Forecast and Analysis
11. HOME DIAGNOSTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Home Diagnostics Market Overview
11.1.2 North America Home Diagnostics Market Forecasts and Analysis
11.1.3 North America Home Diagnostics Market Forecasts and Analysis - By Test Type
11.1.4 North America Home Diagnostics Market Forecasts and Analysis - By Form
11.1.5 North America Home Diagnostics Market Forecasts and Analysis - By Sample Type
11.1.6 North America Home Diagnostics Market Forecasts and Analysis - By Distribution Channel
11.1.7 North America Home Diagnostics Market Forecasts and Analysis - By Countries
11.1.7.1 United States Home Diagnostics Market
11.1.7.1.1 United States Home Diagnostics Market by Test Type
11.1.7.1.2 United States Home Diagnostics Market by Form
11.1.7.1.3 United States Home Diagnostics Market by Sample Type
11.1.7.1.4 United States Home Diagnostics Market by Distribution Channel
11.1.7.2 Canada Home Diagnostics Market
11.1.7.2.1 Canada Home Diagnostics Market by Test Type
11.1.7.2.2 Canada Home Diagnostics Market by Form
11.1.7.2.3 Canada Home Diagnostics Market by Sample Type
11.1.7.2.4 Canada Home Diagnostics Market by Distribution Channel
11.1.7.3 Mexico Home Diagnostics Market
11.1.7.3.1 Mexico Home Diagnostics Market by Test Type
11.1.7.3.2 Mexico Home Diagnostics Market by Form
11.1.7.3.3 Mexico Home Diagnostics Market by Sample Type
11.1.7.3.4 Mexico Home Diagnostics Market by Distribution Channel
11.2. EUROPE
11.2.1 Europe Home Diagnostics Market Overview
11.2.2 Europe Home Diagnostics Market Forecasts and Analysis
11.2.3 Europe Home Diagnostics Market Forecasts and Analysis - By Test Type
11.2.4 Europe Home Diagnostics Market Forecasts and Analysis - By Form
11.2.5 Europe Home Diagnostics Market Forecasts and Analysis - By Sample Type
11.2.6 Europe Home Diagnostics Market Forecasts and Analysis - By Distribution Channel
11.2.7 Europe Home Diagnostics Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Home Diagnostics Market
11.2.7.1.1 Germany Home Diagnostics Market by Test Type
11.2.7.1.2 Germany Home Diagnostics Market by Form
11.2.7.1.3 Germany Home Diagnostics Market by Sample Type
11.2.7.1.4 Germany Home Diagnostics Market by Distribution Channel
11.2.7.2 France Home Diagnostics Market
11.2.7.2.1 France Home Diagnostics Market by Test Type
11.2.7.2.2 France Home Diagnostics Market by Form
11.2.7.2.3 France Home Diagnostics Market by Sample Type
11.2.7.2.4 France Home Diagnostics Market by Distribution Channel
11.2.7.3 Italy Home Diagnostics Market
11.2.7.3.1 Italy Home Diagnostics Market by Test Type
11.2.7.3.2 Italy Home Diagnostics Market by Form
11.2.7.3.3 Italy Home Diagnostics Market by Sample Type
11.2.7.3.4 Italy Home Diagnostics Market by Distribution Channel
11.2.7.4 Spain Home Diagnostics Market
11.2.7.4.1 Spain Home Diagnostics Market by Test Type
11.2.7.4.2 Spain Home Diagnostics Market by Form
11.2.7.4.3 Spain Home Diagnostics Market by Sample Type
11.2.7.4.4 Spain Home Diagnostics Market by Distribution Channel
11.2.7.5 United Kingdom Home Diagnostics Market
11.2.7.5.1 United Kingdom Home Diagnostics Market by Test Type
11.2.7.5.2 United Kingdom Home Diagnostics Market by Form
11.2.7.5.3 United Kingdom Home Diagnostics Market by Sample Type
11.2.7.5.4 United Kingdom Home Diagnostics Market by Distribution Channel
11.2.7.6 Rest of Europe Home Diagnostics Market
11.2.7.6.1 Rest of Europe Home Diagnostics Market by Test Type
11.2.7.6.2 Rest of Europe Home Diagnostics Market by Form
11.2.7.6.3 Rest of Europe Home Diagnostics Market by Sample Type
11.2.7.6.4 Rest of Europe Home Diagnostics Market by Distribution Channel
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Home Diagnostics Market Overview
11.3.2 Asia-Pacific Home Diagnostics Market Forecasts and Analysis
11.3.3 Asia-Pacific Home Diagnostics Market Forecasts and Analysis - By Test Type
11.3.4 Asia-Pacific Home Diagnostics Market Forecasts and Analysis - By Form
11.3.5 Asia-Pacific Home Diagnostics Market Forecasts and Analysis - By Sample Type
11.3.6 Asia-Pacific Home Diagnostics Market Forecasts and Analysis - By Distribution Channel
11.3.7 Asia-Pacific Home Diagnostics Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Home Diagnostics Market
11.3.7.1.1 Australia Home Diagnostics Market by Test Type
11.3.7.1.2 Australia Home Diagnostics Market by Form
11.3.7.1.3 Australia Home Diagnostics Market by Sample Type
11.3.7.1.4 Australia Home Diagnostics Market by Distribution Channel
11.3.7.2 China Home Diagnostics Market
11.3.7.2.1 China Home Diagnostics Market by Test Type
11.3.7.2.2 China Home Diagnostics Market by Form
11.3.7.2.3 China Home Diagnostics Market by Sample Type
11.3.7.2.4 China Home Diagnostics Market by Distribution Channel
11.3.7.3 India Home Diagnostics Market
11.3.7.3.1 India Home Diagnostics Market by Test Type
11.3.7.3.2 India Home Diagnostics Market by Form
11.3.7.3.3 India Home Diagnostics Market by Sample Type
11.3.7.3.4 India Home Diagnostics Market by Distribution Channel
11.3.7.4 Japan Home Diagnostics Market
11.3.7.4.1 Japan Home Diagnostics Market by Test Type
11.3.7.4.2 Japan Home Diagnostics Market by Form
11.3.7.4.3 Japan Home Diagnostics Market by Sample Type
11.3.7.4.4 Japan Home Diagnostics Market by Distribution Channel
11.3.7.5 South Korea Home Diagnostics Market
11.3.7.5.1 South Korea Home Diagnostics Market by Test Type
11.3.7.5.2 South Korea Home Diagnostics Market by Form
11.3.7.5.3 South Korea Home Diagnostics Market by Sample Type
11.3.7.5.4 South Korea Home Diagnostics Market by Distribution Channel
11.3.7.6 Rest of Asia-Pacific Home Diagnostics Market
11.3.7.6.1 Rest of Asia-Pacific Home Diagnostics Market by Test Type
11.3.7.6.2 Rest of Asia-Pacific Home Diagnostics Market by Form
11.3.7.6.3 Rest of Asia-Pacific Home Diagnostics Market by Sample Type
11.3.7.6.4 Rest of Asia-Pacific Home Diagnostics Market by Distribution Channel
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Home Diagnostics Market Overview
11.4.2 Middle East and Africa Home Diagnostics Market Forecasts and Analysis
11.4.3 Middle East and Africa Home Diagnostics Market Forecasts and Analysis - By Test Type
11.4.4 Middle East and Africa Home Diagnostics Market Forecasts and Analysis - By Form
11.4.5 Middle East and Africa Home Diagnostics Market Forecasts and Analysis - By Sample Type
11.4.6 Middle East and Africa Home Diagnostics Market Forecasts and Analysis - By Distribution Channel
11.4.7 Middle East and Africa Home Diagnostics Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Home Diagnostics Market
11.4.7.1.1 South Africa Home Diagnostics Market by Test Type
11.4.7.1.2 South Africa Home Diagnostics Market by Form
11.4.7.1.3 South Africa Home Diagnostics Market by Sample Type
11.4.7.1.4 South Africa Home Diagnostics Market by Distribution Channel
11.4.7.2 Saudi Arabia Home Diagnostics Market
11.4.7.2.1 Saudi Arabia Home Diagnostics Market by Test Type
11.4.7.2.2 Saudi Arabia Home Diagnostics Market by Form
11.4.7.2.3 Saudi Arabia Home Diagnostics Market by Sample Type
11.4.7.2.4 Saudi Arabia Home Diagnostics Market by Distribution Channel
11.4.7.3 U.A.E Home Diagnostics Market
11.4.7.3.1 U.A.E Home Diagnostics Market by Test Type
11.4.7.3.2 U.A.E Home Diagnostics Market by Form
11.4.7.3.3 U.A.E Home Diagnostics Market by Sample Type
11.4.7.3.4 U.A.E Home Diagnostics Market by Distribution Channel
11.4.7.4 Rest of Middle East and Africa Home Diagnostics Market
11.4.7.4.1 Rest of Middle East and Africa Home Diagnostics Market by Test Type
11.4.7.4.2 Rest of Middle East and Africa Home Diagnostics Market by Form
11.4.7.4.3 Rest of Middle East and Africa Home Diagnostics Market by Sample Type
11.4.7.4.4 Rest of Middle East and Africa Home Diagnostics Market by Distribution Channel
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Home Diagnostics Market Overview
11.5.2 South and Central America Home Diagnostics Market Forecasts and Analysis
11.5.3 South and Central America Home Diagnostics Market Forecasts and Analysis - By Test Type
11.5.4 South and Central America Home Diagnostics Market Forecasts and Analysis - By Form
11.5.5 South and Central America Home Diagnostics Market Forecasts and Analysis - By Sample Type
11.5.6 South and Central America Home Diagnostics Market Forecasts and Analysis - By Distribution Channel
11.5.7 South and Central America Home Diagnostics Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Home Diagnostics Market
11.5.7.1.1 Brazil Home Diagnostics Market by Test Type
11.5.7.1.2 Brazil Home Diagnostics Market by Form
11.5.7.1.3 Brazil Home Diagnostics Market by Sample Type
11.5.7.1.4 Brazil Home Diagnostics Market by Distribution Channel
11.5.7.2 Argentina Home Diagnostics Market
11.5.7.2.1 Argentina Home Diagnostics Market by Test Type
11.5.7.2.2 Argentina Home Diagnostics Market by Form
11.5.7.2.3 Argentina Home Diagnostics Market by Sample Type
11.5.7.2.4 Argentina Home Diagnostics Market by Distribution Channel
11.5.7.3 Rest of South and Central America Home Diagnostics Market
11.5.7.3.1 Rest of South and Central America Home Diagnostics Market by Test Type
11.5.7.3.2 Rest of South and Central America Home Diagnostics Market by Form
11.5.7.3.3 Rest of South and Central America Home Diagnostics Market by Sample Type
11.5.7.3.4 Rest of South and Central America Home Diagnostics Market by Distribution Channel
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. HOME DIAGNOSTICS MARKET, KEY COMPANY PROFILES
13.1. BECTON DICKINSON AND COMPANY
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. ABBOTT LABORATORIES
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. BTNX 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. ACON LABORATORIES 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. BIONIME CORPORATION
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. ROCHE HOLDING AG
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. THERMO FISHER SCIENTIFIC, INC.
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. SIEMENS HEALTHINEERS
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. QUIDEL 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. TRUE DIAGNOSTICS INC.
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. Becton Dickinson and Company
2. Abbott Laboratories
3. BTNX Inc.
4. ACON Laboratories Inc.
5. Bionime Corporation
6. Roche Holding AG
7. Thermo Fisher Scientific, Inc.
8. Siemens Healthineers
9. Quidel Corporation
10. True Diagnostics 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.
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