Horseradish Peroxidase Market Updates by 2031
MARKET OVERVIEW Mrinal Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Horseradish peroxidase (HRP) is an enzyme that catalyzes the conversion of chromogenic or chemiluminescent substrates for the detection of targets such as proteins, carbohydrates, and nucleic acids. It is also used to increase signal in photometric assays. Although HRP is easily conjugated to various molecules, it is commonly coupled with antibody, protein A, protein G, or avidin. In numerous popular techniques, such as western blotting, enzyme-linked immunosorbent assays (ELISAs), and microscopy, HRP conjugates are employed as reporters. Manufacturers of horseradish peroxidase are perfecting their techniques to produce enzymes with sensitivities that may be employed in various diagnostic procedures. Manufacturers are also focused on educating lab professionals on the importance of choosing ELISA substrates carefully for the best results in test systems, as a result, the price, usability, and sensitivity of ELISA substrates vary. Additionally, to prepare ELISA substrates for usage, researchers must go through various procedures such as assay methods, in this method signal detection depends on substrate preparation. Moreover, numerous ELISA substrate optimization techniques are becoming more understood widely used and may help test systems perform better. Manufacturers are ramping up the manufacturing of chromogenic substrates for ELISA tests, which are used in conjunction with horseradish peroxidase enzyme (HRP).
Armoracia rusticana roots are used to extract the HRP used in commercial products. However, the traditional production method is only desirable during certain seasons because of limited availability and lengthy cultivation times combined with low yields. Additionally, downstream processing is time-consuming, and the content of individual isoenzymes is frequently very low. As a result, a consistent enzyme preparation with clear properties is required, and recombinant protein manufacturing would solve this problem. Because yeasts are simple to grow and frequently employed for proteins with glycosylation and disulfide bonds, several research have focused on Saccharomyces cerevisiae or Pichia pastoris as hosts for the production of rHRP.
MARKET SCOPE
The "Global horseradish peroxidase market analysis to 2031" is a specialized and in-depth study of the pharmaceutical industry with a special focus on global market trend analysis. The report aims to provide an overview of the horseradish peroxidase market with detailed market segmentation by product type, application, end user, and geography. The report provides key statistics on the market status of the leading horseradish peroxidase market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The horseradish peroxidase market is segmented based on product type, application, end user, and region. Based on product type, the global horseradish peroxidase market is differentiated into Grade I, Grade II, and Grade III. By application, the horseradish peroxidase market is bifurcated into immunoassay and biosensor. By end user, the horseradish peroxidase market is bifurcated into biopharmaceutical companies, academic & research center and others.
MARKET DYNAMICS
Drivers-
The global horseradish peroxidase market is anticipated to grow owing to the wide application areas of for the enzyme. Horseradish peroxidase has been researched by scientists for ages and it has a significant function in these applications and has been widely employed as a reporter enzyme in histochemistry and diagnostics. Horseradish peroxidase's function in plants and its catalytic mechanism have both been the subject of several investigations. However, the manufacturing of its recombinant proteins has not made much progress. In industrial preparations, horseradish peroxidase is still separated from plant roots and these preparations are often blends of different isoenzymes, only a portion of which have been previously characterized. Due to its numerous uses in healthcare, biology, and biotechnology, such as cancer treatment, biosensor systems, bioremediation, and biocatalysis, horseradish peroxidase is regaining prominence. This enzyme is highly intriguing for future biotech applications because of its medical and commercial uses, recent discovery of additional natural isoenzymes with distinct biochemical properties, and challenges in recombinant manufacturing. The main application areas of HRP research includes Enzymological characterization, recombinant production using a variety of expression systems among others.
Furthermore, there are several gene therapy plans that have been put up for the treatment of cancer. Hydrogen peroxide is used by horseradish peroxidase to oxidize both organic and inorganic substances. Multiple studies have suggested that the HRP/paracetamol combination may be used for hypoxia-targeted gene therapy since it may generate cytotoxicity even in the presence of severe hypoxia (catalyst-induced anoxia). Additionally, chemifluorescence is a technique used for ELISA reactions to increase sensitivity. The sensitivity of ELISA results has improved owing to the increased awareness about technology among players operating in the horseradish peroxidase business. They employ photomultiplier tubes with fluorescence sensing to guarantee reaction stability.
REGIONAL FRAMEWORK
North America accounts for largest revenue share in global horseradish peroxidase (HRP) market, among regional markets, North America emerged as the largest market in 2022. The main drivers of revenue growth in the North American horseradish peroxidase market are escalating biochemistry research and development, eco-friendly qualities that produce less pollution when destroyed, escalating technological innovation, and ongoing research. North America is projected to be followed by Europe because of the expansion of the pharmaceutical and biotech sectors in the region. In terms of growth rate, Asia Pacific is expected to register significant growth rate owing to the presence of developing economies. Various factors such as increased drug development, government initiatives, investment opportunities, expanding biochemistry, biotechnology, and pharmaceutical companies in the rehion are likley to support the market growth growth. Moreover, the increased use of enzymes to enhance the signal in photometric tests for the detection of important substances like proteins, carbohydrates, and nucleic acids are also expected to propel the growth of horseradish peroxidase market.
Have a question?
Speak to Analyst
North America accounts for largest revenue share in global horseradish peroxidase (HRP) market, among regional markets, North America emerged as the largest market in 2022. The main drivers of revenue growth in the North American horseradish peroxidase market are escalating biochemistry research and development, eco-friendly qualities that produce less pollution when destroyed, escalating technological innovation, and ongoing research. North America is projected to be followed by Europe because of the expansion of the pharmaceutical and biotech sectors in the region. In terms of growth rate, Asia Pacific is expected to register significant growth rate owing to the presence of developing economies. Various factors such as increased drug development, government initiatives, investment opportunities, expanding biochemistry, biotechnology, and pharmaceutical companies in the rehion are likley to support the market growth growth. Moreover, the increased use of enzymes to enhance the signal in photometric tests for the detection of important substances like proteins, carbohydrates, and nucleic acids are also expected to propel the growth of horseradish peroxidase market.
MARKET PLAYERS
The report covers key horseradish peroxidase market developments, such as organic and inorganic growth strategies. Various companies such as Abcam plc, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Merck KGaA,, BBI Solutions, Takara Bio Company, Promega Corporation, Faizyme Laboratories, Hoffmann-La Roche Ltd., GenScript, TOYOBO Co., Ltd., Oriental Yeast Co., Ltd., and among others are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of horseradish peroxidase market players. The horseradish peroxidase market players from the horseradish peroxidase market are anticipated to have lucrative growth opportunities with the rising demand for horseradish peroxidase in the global market.
Key Developments in Global Horseradish peroxidase market
- In January 2023, AlphaThera has launched oYo-Link Horseradish Peroxidase (HRP). Is the new addition to their range of site-specific antibody labeling reagents. oYo-Link antibody-HRP labeling technology will allow the rapid production of highly uniform primary antibody conjugates in just two hours, and with only 30 seconds hands-on time.
- In June 2022, Creative Enzymes launched Horseradish Peroxidase for research & industrial production.
- In March 2021, Epitope Diagnostics, Inc. launched immunoassay kits for the qualitative detection of COVID-19, in which recombinant COVID-19 antigen is identified with horseradish peroxidase (HRP) to perform the test.
The horseradish peroxidase report also includes key companies' profiles, their SWOT analysis, and horseradish peroxidase market size & startegies in the horseradish peroxidase market . In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner’s dedicated research and analysis team comprises experienced professionals with advanced statistical expertise and offers various customization options in the current study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table of Content
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Horseradish Peroxidase Market - By Product Type
1.3.2 Horseradish Peroxidase Market - By Application
1.3.3 Horseradish Peroxidase Market - By End-use
1.3.4 Horseradish Peroxidase Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. HORSERADISH PEROXIDASE 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. HORSERADISH PEROXIDASE 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. HORSERADISH PEROXIDASE MARKET - GLOBAL MARKET ANALYSIS
6.1. HORSERADISH PEROXIDASE - GLOBAL MARKET OVERVIEW
6.2. HORSERADISH PEROXIDASE - GLOBAL MARKET AND FORECAST TO 2030
6.3. MARKET POSITIONING
7. HORSERADISH PEROXIDASE MARKET - REVENUE AND FORECASTS TO 2030 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. GRADE I
7.3.1. Overview
7.3.2. Grade I Market Forecast and Analysis
7.4. GRADE II
7.4.1. Overview
7.4.2. Grade II Market Forecast and Analysis
7.5. GRADE III
7.5.1. Overview
7.5.2. Grade III Market Forecast and Analysis
8. HORSERADISH PEROXIDASE MARKET - REVENUE AND FORECASTS TO 2030 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. IMMUNOASSAYS
8.3.1. Overview
8.3.2. Immunoassays Market Forecast and Analysis
8.4. BIOSENSORS
8.4.1. Overview
8.4.2. Biosensors Market Forecast and Analysis
9. HORSERADISH PEROXIDASE MARKET - REVENUE AND FORECASTS TO 2030 - END-USE
9.1. OVERVIEW
9.2. END-USE MARKET FORECASTS AND ANALYSIS
9.3. BIOPHARMACEUTICAL COMPANIES
9.3.1. Overview
9.3.2. Biopharmaceutical Companies Market Forecast and Analysis
9.4. ACADEMIC AND RESEARCH CENTERS
9.4.1. Overview
9.4.2. Academic and Research Centers Market Forecast and Analysis
9.5. OTHERS
9.5.1. Overview
9.5.2. Others Market Forecast and Analysis
10. HORSERADISH PEROXIDASE MARKET REVENUE AND FORECASTS TO 2030 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Horseradish Peroxidase Market Overview
10.1.2 North America Horseradish Peroxidase Market Forecasts and Analysis
10.1.3 North America Horseradish Peroxidase Market Forecasts and Analysis - By Product Type
10.1.4 North America Horseradish Peroxidase Market Forecasts and Analysis - By Application
10.1.5 North America Horseradish Peroxidase Market Forecasts and Analysis - By End-use
10.1.6 North America Horseradish Peroxidase Market Forecasts and Analysis - By Countries
10.1.6.1 United States Horseradish Peroxidase Market
10.1.6.1.1 United States Horseradish Peroxidase Market by Product Type
10.1.6.1.2 United States Horseradish Peroxidase Market by Application
10.1.6.1.3 United States Horseradish Peroxidase Market by End-use
10.1.6.2 Canada Horseradish Peroxidase Market
10.1.6.2.1 Canada Horseradish Peroxidase Market by Product Type
10.1.6.2.2 Canada Horseradish Peroxidase Market by Application
10.1.6.2.3 Canada Horseradish Peroxidase Market by End-use
10.1.6.3 Mexico Horseradish Peroxidase Market
10.1.6.3.1 Mexico Horseradish Peroxidase Market by Product Type
10.1.6.3.2 Mexico Horseradish Peroxidase Market by Application
10.1.6.3.3 Mexico Horseradish Peroxidase Market by End-use
10.2. EUROPE
10.2.1 Europe Horseradish Peroxidase Market Overview
10.2.2 Europe Horseradish Peroxidase Market Forecasts and Analysis
10.2.3 Europe Horseradish Peroxidase Market Forecasts and Analysis - By Product Type
10.2.4 Europe Horseradish Peroxidase Market Forecasts and Analysis - By Application
10.2.5 Europe Horseradish Peroxidase Market Forecasts and Analysis - By End-use
10.2.6 Europe Horseradish Peroxidase Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Horseradish Peroxidase Market
10.2.6.1.1 Germany Horseradish Peroxidase Market by Product Type
10.2.6.1.2 Germany Horseradish Peroxidase Market by Application
10.2.6.1.3 Germany Horseradish Peroxidase Market by End-use
10.2.6.2 France Horseradish Peroxidase Market
10.2.6.2.1 France Horseradish Peroxidase Market by Product Type
10.2.6.2.2 France Horseradish Peroxidase Market by Application
10.2.6.2.3 France Horseradish Peroxidase Market by End-use
10.2.6.3 Italy Horseradish Peroxidase Market
10.2.6.3.1 Italy Horseradish Peroxidase Market by Product Type
10.2.6.3.2 Italy Horseradish Peroxidase Market by Application
10.2.6.3.3 Italy Horseradish Peroxidase Market by End-use
10.2.6.4 Spain Horseradish Peroxidase Market
10.2.6.4.1 Spain Horseradish Peroxidase Market by Product Type
10.2.6.4.2 Spain Horseradish Peroxidase Market by Application
10.2.6.4.3 Spain Horseradish Peroxidase Market by End-use
10.2.6.5 United Kingdom Horseradish Peroxidase Market
10.2.6.5.1 United Kingdom Horseradish Peroxidase Market by Product Type
10.2.6.5.2 United Kingdom Horseradish Peroxidase Market by Application
10.2.6.5.3 United Kingdom Horseradish Peroxidase Market by End-use
10.2.6.6 Rest of Europe Horseradish Peroxidase Market
10.2.6.6.1 Rest of Europe Horseradish Peroxidase Market by Product Type
10.2.6.6.2 Rest of Europe Horseradish Peroxidase Market by Application
10.2.6.6.3 Rest of Europe Horseradish Peroxidase Market by End-use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Horseradish Peroxidase Market Overview
10.3.2 Asia-Pacific Horseradish Peroxidase Market Forecasts and Analysis
10.3.3 Asia-Pacific Horseradish Peroxidase Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Horseradish Peroxidase Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Horseradish Peroxidase Market Forecasts and Analysis - By End-use
10.3.6 Asia-Pacific Horseradish Peroxidase Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Horseradish Peroxidase Market
10.3.6.1.1 Australia Horseradish Peroxidase Market by Product Type
10.3.6.1.2 Australia Horseradish Peroxidase Market by Application
10.3.6.1.3 Australia Horseradish Peroxidase Market by End-use
10.3.6.2 China Horseradish Peroxidase Market
10.3.6.2.1 China Horseradish Peroxidase Market by Product Type
10.3.6.2.2 China Horseradish Peroxidase Market by Application
10.3.6.2.3 China Horseradish Peroxidase Market by End-use
10.3.6.3 India Horseradish Peroxidase Market
10.3.6.3.1 India Horseradish Peroxidase Market by Product Type
10.3.6.3.2 India Horseradish Peroxidase Market by Application
10.3.6.3.3 India Horseradish Peroxidase Market by End-use
10.3.6.4 Japan Horseradish Peroxidase Market
10.3.6.4.1 Japan Horseradish Peroxidase Market by Product Type
10.3.6.4.2 Japan Horseradish Peroxidase Market by Application
10.3.6.4.3 Japan Horseradish Peroxidase Market by End-use
10.3.6.5 South Korea Horseradish Peroxidase Market
10.3.6.5.1 South Korea Horseradish Peroxidase Market by Product Type
10.3.6.5.2 South Korea Horseradish Peroxidase Market by Application
10.3.6.5.3 South Korea Horseradish Peroxidase Market by End-use
10.3.6.6 Rest of Asia-Pacific Horseradish Peroxidase Market
10.3.6.6.1 Rest of Asia-Pacific Horseradish Peroxidase Market by Product Type
10.3.6.6.2 Rest of Asia-Pacific Horseradish Peroxidase Market by Application
10.3.6.6.3 Rest of Asia-Pacific Horseradish Peroxidase Market by End-use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Horseradish Peroxidase Market Overview
10.4.2 Middle East and Africa Horseradish Peroxidase Market Forecasts and Analysis
10.4.3 Middle East and Africa Horseradish Peroxidase Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Horseradish Peroxidase Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Horseradish Peroxidase Market Forecasts and Analysis - By End-use
10.4.6 Middle East and Africa Horseradish Peroxidase Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Horseradish Peroxidase Market
10.4.6.1.1 South Africa Horseradish Peroxidase Market by Product Type
10.4.6.1.2 South Africa Horseradish Peroxidase Market by Application
10.4.6.1.3 South Africa Horseradish Peroxidase Market by End-use
10.4.6.2 Saudi Arabia Horseradish Peroxidase Market
10.4.6.2.1 Saudi Arabia Horseradish Peroxidase Market by Product Type
10.4.6.2.2 Saudi Arabia Horseradish Peroxidase Market by Application
10.4.6.2.3 Saudi Arabia Horseradish Peroxidase Market by End-use
10.4.6.3 U.A.E Horseradish Peroxidase Market
10.4.6.3.1 U.A.E Horseradish Peroxidase Market by Product Type
10.4.6.3.2 U.A.E Horseradish Peroxidase Market by Application
10.4.6.3.3 U.A.E Horseradish Peroxidase Market by End-use
10.4.6.4 Rest of Middle East and Africa Horseradish Peroxidase Market
10.4.6.4.1 Rest of Middle East and Africa Horseradish Peroxidase Market by Product Type
10.4.6.4.2 Rest of Middle East and Africa Horseradish Peroxidase Market by Application
10.4.6.4.3 Rest of Middle East and Africa Horseradish Peroxidase Market by End-use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Horseradish Peroxidase Market Overview
10.5.2 South and Central America Horseradish Peroxidase Market Forecasts and Analysis
10.5.3 South and Central America Horseradish Peroxidase Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Horseradish Peroxidase Market Forecasts and Analysis - By Application
10.5.5 South and Central America Horseradish Peroxidase Market Forecasts and Analysis - By End-use
10.5.6 South and Central America Horseradish Peroxidase Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Horseradish Peroxidase Market
10.5.6.1.1 Brazil Horseradish Peroxidase Market by Product Type
10.5.6.1.2 Brazil Horseradish Peroxidase Market by Application
10.5.6.1.3 Brazil Horseradish Peroxidase Market by End-use
10.5.6.2 Argentina Horseradish Peroxidase Market
10.5.6.2.1 Argentina Horseradish Peroxidase Market by Product Type
10.5.6.2.2 Argentina Horseradish Peroxidase Market by Application
10.5.6.2.3 Argentina Horseradish Peroxidase Market by End-use
10.5.6.3 Rest of South and Central America Horseradish Peroxidase Market
10.5.6.3.1 Rest of South and Central America Horseradish Peroxidase Market by Product Type
10.5.6.3.2 Rest of South and Central America Horseradish Peroxidase Market by Application
10.5.6.3.3 Rest of South and Central America Horseradish Peroxidase Market by End-use
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL HORSERADISH PEROXIDASE 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. HORSERADISH PEROXIDASE MARKET, KEY COMPANY PROFILES
13.1. ABCAM PLC
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. BIO-RAD LABORATORIES
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. MERCK KGAA
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. BBI SOLUTIONS
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. TAKARA BIO COMPANY
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. PROMEGA 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. FAIZYME LABORATORIES
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. HOFFMANN-LA ROCHE LTD.
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. GENSCRIPT
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
The List of Companies
1. ABCAM PLC
2. THERMO FISHER SCIENTIFIC, INC.
3. BIO-RAD LABORATORIES
4. MERCK KGAA,
5. BBI SOLUTIONS
6. TAKARA BIO COMPANY
7. PROMEGA CORPORATION
8. FAIZYME LABORATORIES
9. HOFFMANN-LA ROCHE LTD.
10. GENSCRIPT
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.
Get Free Sample For