Laboratory Proficiency Testing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
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Laboratory proficiency testing is an external quality and accuracy assessment process that examines unknown specimens obtained from a service provider to assure accurate lab testing results. Internal quality control is more than just lab proficiency testing.
MARKET SCOPE
The "Laboratory proficiency testing market to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of laboratory proficiency testing market with detailed market segmentation by of Industry and Technology. The laboratory proficiency testing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in laboratory proficiency testing market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- n the basis of industry, the market is segmented into Clinical Diagnostics, Food and Animal Feed, Microbiology, Environmental, Commercial Beverages, Pharmaceuticals, Water, Nutraceuticals, Biologics, Cannabis, Dietary Supplements and Cosmetics.
- n the basis of technology, the market is segmented into Therapeutics, Drug Formulation & Vaccines, and Component of media and Other Applications.
MARKET DYNAMICS
Drivers:
- The increased focus on diagnostic laboratories, laboratory proficiency testing is becoming more widely used. The market is also likely to be driven by the increasing number of new proficiency testing programmes launched by key players.
- Foodborne illness epidemics are expected to increase as a result of the intake of contaminated foods that contain viruses, bacteria, chemical compounds, and parasites is anticipated to accelerate market growth
Restraints
The market's growth is hampered by the availability of substitutes and the high costs associated with laboratory proficiency testing market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the laboratory proficiency testing market based on various segments. It also provides market size and forecast estimates from year 2021 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The laboratory proficiency testing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting laboratory proficiency testing market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the laboratory proficiency testing market in these regions.
IMPACT OF COVID-19 ON LABORATORY PROFICIENCY TESTING MARKET:
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The global impacts of the COVID-19 are already starting to be felt, and will significantly affect the laboratory proficiency testing market in 2020.Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the laboratory proficiency testing market based on various segments. It also provides market size and forecast estimates from year 2021 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The laboratory proficiency testing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting laboratory proficiency testing market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors affecting the laboratory proficiency testing market in these regions.
IMPACT OF COVID-19 ON LABORATORY PROFICIENCY TESTING MARKET:
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. The global impacts of the COVID-19 are already starting to be felt, and will significantly affect the laboratory proficiency testing market in 2020.Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the laboratory proficiency testing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from laboratory proficiency testing market are anticipated to have lucrative growth opportunities in the future with the rising demand for laboratory proficiency testing market in the global market. Below mentioned is the list of few companies engaged in the laboratory proficiency testing market.
The report also includes the profiles of key players in laboratory proficiency testing market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered financial information of last 3 years, key development in past five years.
- LGC Limited
- American Proficiency Institute
- Fera Science Limited
- Merck KGaA
- Waters Corporation
- QACS Ltd
- Weqas
- Advanced Analytical Solutions
- Bio-Rad Laboratories, Inc.
- TRILOGY ANALYTICAL LABORATORIES
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing 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
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
This text is related
to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Laboratory Proficiency Testing Market - By Industry
1.3.2 Laboratory Proficiency Testing Market - By Technology
1.3.3 Laboratory Proficiency Testing Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LABORATORY PROFICIENCY TESTING 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. LABORATORY PROFICIENCY TESTING 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. LABORATORY PROFICIENCY TESTING MARKET - GLOBAL MARKET ANALYSIS
6.1. LABORATORY PROFICIENCY TESTING - GLOBAL MARKET OVERVIEW
6.2. LABORATORY PROFICIENCY TESTING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. LABORATORY PROFICIENCY TESTING MARKET - REVENUE AND FORECASTS TO 2028 - INDUSTRY
7.1. OVERVIEW
7.2. INDUSTRY MARKET FORECASTS AND ANALYSIS
7.3. CLINICAL DIAGNOSTICS
7.3.1. Overview
7.3.2. Clinical Diagnostics Market Forecast and Analysis
7.3.3. Routine Chemistry Market
7.3.3.1. Overview
7.3.3.2. Routine Chemistry Market Forecast and Analysis
7.3.4. Hematology Market
7.3.4.1. Overview
7.3.4.2. Hematology Market Forecast and Analysis
7.3.5. Endocrinology Market
7.3.5.1. Overview
7.3.5.2. Endocrinology Market Forecast and Analysis
7.3.6. Other Tests Market
7.3.6.1. Overview
7.3.6.2. Other Tests Market Forecast and Analysis
7.4. FOOD AND ANIMAL FEED
7.4.1. Overview
7.4.2. Food and Animal Feed Market Forecast and Analysis
7.4.3. Dairy Products. Meat and meat products Market
7.4.3.1. Overview
7.4.3.2. Dairy Products. Meat and meat products Market Forecast and Analysis
7.4.4. Eggs Market
7.4.4.1. Overview
7.4.4.2. Eggs Market Forecast and Analysis
7.4.5. Fish Market
7.4.5.1. Overview
7.4.5.2. Fish Market Forecast and Analysis
7.4.6. Fat/Oil Market
7.4.6.1. Overview
7.4.6.2. Fat/Oil Market Forecast and Analysis
7.4.7. Vegetables and fruits Market
7.4.7.1. Overview
7.4.7.2. Vegetables and fruits Market Forecast and Analysis
7.4.8. Other Products Market
7.4.8.1. Overview
7.4.8.2. Other Products Market Forecast and Analysis
7.5. MICROBIOLOGY
7.5.1. Overview
7.5.2. Microbiology Market Forecast and Analysis
7.5.3. Sterility Testing Market
7.5.3.1. Overview
7.5.3.2. Sterility Testing Market Forecast and Analysis
7.5.4. Endotoxin and Pyrogen Testing Market
7.5.4.1. Overview
7.5.4.2. Endotoxin and Pyrogen Testing Market Forecast and Analysis
7.5.5. Pathogen Testing Market
7.5.5.1. Overview
7.5.5.2. Pathogen Testing Market Forecast and Analysis
7.5.6. Growth Promotion Testing Market
7.5.6.1. Overview
7.5.6.2. Growth Promotion Testing Market Forecast and Analysis
7.5.7. Other Microbial Testing Market
7.5.7.1. Overview
7.5.7.2. Other Microbial Testing Market Forecast and Analysis
7.6. ENVIRONMENTAL
7.6.1. Overview
7.6.2. Environmental Market Forecast and Analysis
7.7. COMMERCIAL BEVERAGES
7.7.1. Overview
7.7.2. Commercial Beverages Market Forecast and Analysis
7.7.3. Alcoholic Beverages Market
7.7.3.1. Overview
7.7.3.2. Alcoholic Beverages Market Forecast and Analysis
7.7.4. Non-alcoholic Beverages Market
7.7.4.1. Overview
7.7.4.2. Non-alcoholic Beverages Market Forecast and Analysis
7.8. PHARMACEUTICALS
7.8.1. Overview
7.8.2. Pharmaceuticals Market Forecast and Analysis
7.9. WATER
7.9.1. Overview
7.9.2. Water Market Forecast and Analysis
7.10. NUTRACEUTICALS
7.10.1. Overview
7.10.2. Nutraceuticals Market Forecast and Analysis
7.11. BIOLOGICS
7.11.1. Overview
7.11.2. Biologics Market Forecast and Analysis
7.12. OTHERS
7.12.1. Overview
7.12.2. Others Market Forecast and Analysis
8. LABORATORY PROFICIENCY TESTING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. POLYMERASE CHAIN REACTION
8.3.1. Overview
8.3.2. Polymerase Chain Reaction Market Forecast and Analysis
8.4. CELL CULTURE
8.4.1. Overview
8.4.2. Cell Culture Market Forecast and Analysis
8.5. IMMUNOASSAYS
8.5.1. Overview
8.5.2. Immunoassays Market Forecast and Analysis
8.6. CHROMATOGRAPHY
8.6.1. Overview
8.6.2. Chromatography Market Forecast and Analysis
8.7. SPECTROMETRY
8.7.1. Overview
8.7.2. Spectrometry Market Forecast and Analysis
8.8. OTHER TECHNOLOGIES
8.8.1. Overview
8.8.2. Other Technologies Market Forecast and Analysis
9. LABORATORY PROFICIENCY TESTING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Laboratory Proficiency Testing Market Overview
9.1.2 North America Laboratory Proficiency Testing Market Forecasts and Analysis
9.1.3 North America Laboratory Proficiency Testing Market Forecasts and Analysis - By Industry
9.1.4 North America Laboratory Proficiency Testing Market Forecasts and Analysis - By Technology
9.1.5 North America Laboratory Proficiency Testing Market Forecasts and Analysis - By Countries
9.1.5.1 United States Laboratory Proficiency Testing Market
9.1.5.1.1 United States Laboratory Proficiency Testing Market by Industry
9.1.5.1.2 United States Laboratory Proficiency Testing Market by Technology
9.1.5.2 Canada Laboratory Proficiency Testing Market
9.1.5.2.1 Canada Laboratory Proficiency Testing Market by Industry
9.1.5.2.2 Canada Laboratory Proficiency Testing Market by Technology
9.1.5.3 Mexico Laboratory Proficiency Testing Market
9.1.5.3.1 Mexico Laboratory Proficiency Testing Market by Industry
9.1.5.3.2 Mexico Laboratory Proficiency Testing Market by Technology
9.2. EUROPE
9.2.1 Europe Laboratory Proficiency Testing Market Overview
9.2.2 Europe Laboratory Proficiency Testing Market Forecasts and Analysis
9.2.3 Europe Laboratory Proficiency Testing Market Forecasts and Analysis - By Industry
9.2.4 Europe Laboratory Proficiency Testing Market Forecasts and Analysis - By Technology
9.2.5 Europe Laboratory Proficiency Testing Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Laboratory Proficiency Testing Market
9.2.5.1.1 Germany Laboratory Proficiency Testing Market by Industry
9.2.5.1.2 Germany Laboratory Proficiency Testing Market by Technology
9.2.5.2 France Laboratory Proficiency Testing Market
9.2.5.2.1 France Laboratory Proficiency Testing Market by Industry
9.2.5.2.2 France Laboratory Proficiency Testing Market by Technology
9.2.5.3 Italy Laboratory Proficiency Testing Market
9.2.5.3.1 Italy Laboratory Proficiency Testing Market by Industry
9.2.5.3.2 Italy Laboratory Proficiency Testing Market by Technology
9.2.5.4 Spain Laboratory Proficiency Testing Market
9.2.5.4.1 Spain Laboratory Proficiency Testing Market by Industry
9.2.5.4.2 Spain Laboratory Proficiency Testing Market by Technology
9.2.5.5 United Kingdom Laboratory Proficiency Testing Market
9.2.5.5.1 United Kingdom Laboratory Proficiency Testing Market by Industry
9.2.5.5.2 United Kingdom Laboratory Proficiency Testing Market by Technology
9.2.5.6 Rest of Europe Laboratory Proficiency Testing Market
9.2.5.6.1 Rest of Europe Laboratory Proficiency Testing Market by Industry
9.2.5.6.2 Rest of Europe Laboratory Proficiency Testing Market by Technology
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Laboratory Proficiency Testing Market Overview
9.3.2 Asia-Pacific Laboratory Proficiency Testing Market Forecasts and Analysis
9.3.3 Asia-Pacific Laboratory Proficiency Testing Market Forecasts and Analysis - By Industry
9.3.4 Asia-Pacific Laboratory Proficiency Testing Market Forecasts and Analysis - By Technology
9.3.5 Asia-Pacific Laboratory Proficiency Testing Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Laboratory Proficiency Testing Market
9.3.5.1.1 Australia Laboratory Proficiency Testing Market by Industry
9.3.5.1.2 Australia Laboratory Proficiency Testing Market by Technology
9.3.5.2 China Laboratory Proficiency Testing Market
9.3.5.2.1 China Laboratory Proficiency Testing Market by Industry
9.3.5.2.2 China Laboratory Proficiency Testing Market by Technology
9.3.5.3 India Laboratory Proficiency Testing Market
9.3.5.3.1 India Laboratory Proficiency Testing Market by Industry
9.3.5.3.2 India Laboratory Proficiency Testing Market by Technology
9.3.5.4 Japan Laboratory Proficiency Testing Market
9.3.5.4.1 Japan Laboratory Proficiency Testing Market by Industry
9.3.5.4.2 Japan Laboratory Proficiency Testing Market by Technology
9.3.5.5 South Korea Laboratory Proficiency Testing Market
9.3.5.5.1 South Korea Laboratory Proficiency Testing Market by Industry
9.3.5.5.2 South Korea Laboratory Proficiency Testing Market by Technology
9.3.5.6 Rest of Asia-Pacific Laboratory Proficiency Testing Market
9.3.5.6.1 Rest of Asia-Pacific Laboratory Proficiency Testing Market by Industry
9.3.5.6.2 Rest of Asia-Pacific Laboratory Proficiency Testing Market by Technology
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Laboratory Proficiency Testing Market Overview
9.4.2 Middle East and Africa Laboratory Proficiency Testing Market Forecasts and Analysis
9.4.3 Middle East and Africa Laboratory Proficiency Testing Market Forecasts and Analysis - By Industry
9.4.4 Middle East and Africa Laboratory Proficiency Testing Market Forecasts and Analysis - By Technology
9.4.5 Middle East and Africa Laboratory Proficiency Testing Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Laboratory Proficiency Testing Market
9.4.5.1.1 South Africa Laboratory Proficiency Testing Market by Industry
9.4.5.1.2 South Africa Laboratory Proficiency Testing Market by Technology
9.4.5.2 Saudi Arabia Laboratory Proficiency Testing Market
9.4.5.2.1 Saudi Arabia Laboratory Proficiency Testing Market by Industry
9.4.5.2.2 Saudi Arabia Laboratory Proficiency Testing Market by Technology
9.4.5.3 U.A.E Laboratory Proficiency Testing Market
9.4.5.3.1 U.A.E Laboratory Proficiency Testing Market by Industry
9.4.5.3.2 U.A.E Laboratory Proficiency Testing Market by Technology
9.4.5.4 Rest of Middle East and Africa Laboratory Proficiency Testing Market
9.4.5.4.1 Rest of Middle East and Africa Laboratory Proficiency Testing Market by Industry
9.4.5.4.2 Rest of Middle East and Africa Laboratory Proficiency Testing Market by Technology
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Laboratory Proficiency Testing Market Overview
9.5.2 South and Central America Laboratory Proficiency Testing Market Forecasts and Analysis
9.5.3 South and Central America Laboratory Proficiency Testing Market Forecasts and Analysis - By Industry
9.5.4 South and Central America Laboratory Proficiency Testing Market Forecasts and Analysis - By Technology
9.5.5 South and Central America Laboratory Proficiency Testing Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Laboratory Proficiency Testing Market
9.5.5.1.1 Brazil Laboratory Proficiency Testing Market by Industry
9.5.5.1.2 Brazil Laboratory Proficiency Testing Market by Technology
9.5.5.2 Argentina Laboratory Proficiency Testing Market
9.5.5.2.1 Argentina Laboratory Proficiency Testing Market by Industry
9.5.5.2.2 Argentina Laboratory Proficiency Testing Market by Technology
9.5.5.3 Rest of South and Central America Laboratory Proficiency Testing Market
9.5.5.3.1 Rest of South and Central America Laboratory Proficiency Testing Market by Industry
9.5.5.3.2 Rest of South and Central America Laboratory Proficiency Testing Market by Technology
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL LABORATORY PROFICIENCY TESTING MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Middle East and Africa
10.5 South and Central America
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. LABORATORY PROFICIENCY TESTING MARKET, KEY COMPANY PROFILES
12.1. LGC LIMITED
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. AMERICAN PROFICIENCY INSTITUTE
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. FERA SCIENCE LIMITED
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. MERCK KGAA
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. WATERS CORPORATION
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. QACS LTD
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. WEQAS
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. ADVANCED ANALYTICAL SOLUTIONS
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. BIO-RAD LABORATORIES, INC.
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. TRILOGY ANALYTICAL LABORATORIES
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
1. LGC Limited
2. American Proficiency Institute
3. Fera Science Limited
4. Merck KGaA
5. Waters Corporation
6. QACS Ltd
7. Weqas
8. Advanced Analytical Solutions
9. Bio-Rad Laboratories, Inc.
10. TRILOGY ANALYTICAL LABORATORIES
11. Weqas
12. ERA
13. AOAC International
14. BIPEA
15. NSI Lab Solutions
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.