Lateral Flow Immunoassay Reader Market Key Players Analysis 2031
A lateral flow immunoassay reader is a battery-powered electronic device that uses image analysis algorithms to offer qualitative, semi-quantitative, and quantitative immunoassay test results to end users. These readers are highly accurate and can read several tests in a single scan, and they can be scaled to reach larger test volumes with simple hardware changes. They have Bluetooth systems for quick integration with all electronic health record systems, which eliminates the possibility of human error.
MARKET DYNAMICS
Lateral Flow Immunoassay Reader market is driving due to factors such as high demand for rapid test readers that are simple to use, economical, and highly effective in obtaining non-subjective diagnostic test results at hospitals, laboratories, clinics, and other point-of-care locations and ability to integrate these readers with a mobile device. Moreover, growing popularity of immunoassay for diagnostic tests in developing countries due to its affordability, sensitivity, user-friendliness, robustness, rapid testing, and deliverability is expected to offer significant opportunities to the market growth.
MARKET SCOPE
The Lateral Flow Immunoassay Reader market analysis to 2031 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 Lateral Flow Immunoassay Reader Market with detailed market segmentation by type and end user. The Lateral Flow Immunoassay Reader 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 Lateral Flow Immunoassay Reader market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Lateral Flow Immunoassay Reader market is segmented based on type and end user. Based on type, market is segmented as digital/mobile readers, benchtop readers. Based on end user, market is segmented as Hospitals and Clinics, Home Care, Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Lateral Flow Immunoassay Reader market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Lateral Flow Immunoassay Reader 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 Lateral Flow Immunoassay Reader 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 effecting the Lateral Flow Immunoassay Reader market in these regions.
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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 Lateral Flow Immunoassay Reader market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Lateral Flow Immunoassay Reader 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 Lateral Flow Immunoassay Reader 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 effecting the Lateral Flow Immunoassay Reader market in these regions.
MARKET PLAYERS
The report covers key developments in the Lateral Flow Immunoassay Reader market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as Application and End user launches, Application and End user 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 Lateral Flow Immunoassay Reader market are anticipated to have lucrative growth opportunities in the future with the rising demand for Lateral Flow Immunoassay Reader in the global market. Below mentioned is the list of few companies engaged in the Lateral Flow Immunoassay Reader Market.
The report also includes the profiles of key players in Lateral Flow Immunoassay Reader 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.
- Abbott (Alere)
- Abingdon
- QIAGEN
- BD Company
- Axxin
- LRE Medical (Esterline)
- Detekt Biomedical
- Chembio Diagnostics (optricon)
- Quidel Corporation
- Trinity Biotech
- Magnasense
- BUHLMANN Laboratories AG
- Fio Corporation
- NOW Diagnostic(Cellmic LLC)
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
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.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Lateral Flow Immunoassay Reader Market - By Type
1.3.2 Lateral Flow Immunoassay Reader Market - By End User
1.3.3 Lateral Flow Immunoassay Reader Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LATERAL FLOW IMMUNOASSAY READER 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. LATERAL FLOW IMMUNOASSAY READER 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. LATERAL FLOW IMMUNOASSAY READER MARKET - GLOBAL MARKET ANALYSIS
6.1. LATERAL FLOW IMMUNOASSAY READER - GLOBAL MARKET OVERVIEW
6.2. LATERAL FLOW IMMUNOASSAY READER - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LATERAL FLOW IMMUNOASSAY READER MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. DIGITAL OR MOBILE READERS
7.3.1. Overview
7.3.2. Digital or Mobile Readers Market Forecast and Analysis
7.4. BENCHTOP READERS
7.4.1. Overview
7.4.2. Benchtop Readers Market Forecast and Analysis
8. LATERAL FLOW IMMUNOASSAY READER MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITALS AND CLINICS
8.3.1. Overview
8.3.2. Hospitals and Clinics Market Forecast and Analysis
8.4. HOME CARE
8.4.1. Overview
8.4.2. Home Care Market Forecast and Analysis
8.5. DIAGNOSTIC LABORATORIES
8.5.1. Overview
8.5.2. Diagnostic Laboratories Market Forecast and Analysis
8.6. PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
8.6.1. Overview
8.6.2. Pharmaceutical and Biotechnology Companies Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. LATERAL FLOW IMMUNOASSAY READER MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Lateral Flow Immunoassay Reader Market Overview
9.1.2 North America Lateral Flow Immunoassay Reader Market Forecasts and Analysis
9.1.3 North America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Type
9.1.4 North America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By End User
9.1.5 North America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Countries
9.1.5.1 United States Lateral Flow Immunoassay Reader Market
9.1.5.1.1 United States Lateral Flow Immunoassay Reader Market by Type
9.1.5.1.2 United States Lateral Flow Immunoassay Reader Market by End User
9.1.5.2 Canada Lateral Flow Immunoassay Reader Market
9.1.5.2.1 Canada Lateral Flow Immunoassay Reader Market by Type
9.1.5.2.2 Canada Lateral Flow Immunoassay Reader Market by End User
9.1.5.3 Mexico Lateral Flow Immunoassay Reader Market
9.1.5.3.1 Mexico Lateral Flow Immunoassay Reader Market by Type
9.1.5.3.2 Mexico Lateral Flow Immunoassay Reader Market by End User
9.2. EUROPE
9.2.1 Europe Lateral Flow Immunoassay Reader Market Overview
9.2.2 Europe Lateral Flow Immunoassay Reader Market Forecasts and Analysis
9.2.3 Europe Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Type
9.2.4 Europe Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By End User
9.2.5 Europe Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Lateral Flow Immunoassay Reader Market
9.2.5.1.1 Germany Lateral Flow Immunoassay Reader Market by Type
9.2.5.1.2 Germany Lateral Flow Immunoassay Reader Market by End User
9.2.5.2 France Lateral Flow Immunoassay Reader Market
9.2.5.2.1 France Lateral Flow Immunoassay Reader Market by Type
9.2.5.2.2 France Lateral Flow Immunoassay Reader Market by End User
9.2.5.3 Italy Lateral Flow Immunoassay Reader Market
9.2.5.3.1 Italy Lateral Flow Immunoassay Reader Market by Type
9.2.5.3.2 Italy Lateral Flow Immunoassay Reader Market by End User
9.2.5.4 Spain Lateral Flow Immunoassay Reader Market
9.2.5.4.1 Spain Lateral Flow Immunoassay Reader Market by Type
9.2.5.4.2 Spain Lateral Flow Immunoassay Reader Market by End User
9.2.5.5 United Kingdom Lateral Flow Immunoassay Reader Market
9.2.5.5.1 United Kingdom Lateral Flow Immunoassay Reader Market by Type
9.2.5.5.2 United Kingdom Lateral Flow Immunoassay Reader Market by End User
9.2.5.6 Rest of Europe Lateral Flow Immunoassay Reader Market
9.2.5.6.1 Rest of Europe Lateral Flow Immunoassay Reader Market by Type
9.2.5.6.2 Rest of Europe Lateral Flow Immunoassay Reader Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Lateral Flow Immunoassay Reader Market Overview
9.3.2 Asia-Pacific Lateral Flow Immunoassay Reader Market Forecasts and Analysis
9.3.3 Asia-Pacific Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Lateral Flow Immunoassay Reader Market
9.3.5.1.1 Australia Lateral Flow Immunoassay Reader Market by Type
9.3.5.1.2 Australia Lateral Flow Immunoassay Reader Market by End User
9.3.5.2 China Lateral Flow Immunoassay Reader Market
9.3.5.2.1 China Lateral Flow Immunoassay Reader Market by Type
9.3.5.2.2 China Lateral Flow Immunoassay Reader Market by End User
9.3.5.3 India Lateral Flow Immunoassay Reader Market
9.3.5.3.1 India Lateral Flow Immunoassay Reader Market by Type
9.3.5.3.2 India Lateral Flow Immunoassay Reader Market by End User
9.3.5.4 Japan Lateral Flow Immunoassay Reader Market
9.3.5.4.1 Japan Lateral Flow Immunoassay Reader Market by Type
9.3.5.4.2 Japan Lateral Flow Immunoassay Reader Market by End User
9.3.5.5 South Korea Lateral Flow Immunoassay Reader Market
9.3.5.5.1 South Korea Lateral Flow Immunoassay Reader Market by Type
9.3.5.5.2 South Korea Lateral Flow Immunoassay Reader Market by End User
9.3.5.6 Rest of Asia-Pacific Lateral Flow Immunoassay Reader Market
9.3.5.6.1 Rest of Asia-Pacific Lateral Flow Immunoassay Reader Market by Type
9.3.5.6.2 Rest of Asia-Pacific Lateral Flow Immunoassay Reader Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Lateral Flow Immunoassay Reader Market Overview
9.4.2 Middle East and Africa Lateral Flow Immunoassay Reader Market Forecasts and Analysis
9.4.3 Middle East and Africa Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Lateral Flow Immunoassay Reader Market
9.4.5.1.1 South Africa Lateral Flow Immunoassay Reader Market by Type
9.4.5.1.2 South Africa Lateral Flow Immunoassay Reader Market by End User
9.4.5.2 Saudi Arabia Lateral Flow Immunoassay Reader Market
9.4.5.2.1 Saudi Arabia Lateral Flow Immunoassay Reader Market by Type
9.4.5.2.2 Saudi Arabia Lateral Flow Immunoassay Reader Market by End User
9.4.5.3 U.A.E Lateral Flow Immunoassay Reader Market
9.4.5.3.1 U.A.E Lateral Flow Immunoassay Reader Market by Type
9.4.5.3.2 U.A.E Lateral Flow Immunoassay Reader Market by End User
9.4.5.4 Rest of Middle East and Africa Lateral Flow Immunoassay Reader Market
9.4.5.4.1 Rest of Middle East and Africa Lateral Flow Immunoassay Reader Market by Type
9.4.5.4.2 Rest of Middle East and Africa Lateral Flow Immunoassay Reader Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Lateral Flow Immunoassay Reader Market Overview
9.5.2 South and Central America Lateral Flow Immunoassay Reader Market Forecasts and Analysis
9.5.3 South and Central America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Type
9.5.4 South and Central America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By End User
9.5.5 South and Central America Lateral Flow Immunoassay Reader Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Lateral Flow Immunoassay Reader Market
9.5.5.1.1 Brazil Lateral Flow Immunoassay Reader Market by Type
9.5.5.1.2 Brazil Lateral Flow Immunoassay Reader Market by End User
9.5.5.2 Argentina Lateral Flow Immunoassay Reader Market
9.5.5.2.1 Argentina Lateral Flow Immunoassay Reader Market by Type
9.5.5.2.2 Argentina Lateral Flow Immunoassay Reader Market by End User
9.5.5.3 Rest of South and Central America Lateral Flow Immunoassay Reader Market
9.5.5.3.1 Rest of South and Central America Lateral Flow Immunoassay Reader Market by Type
9.5.5.3.2 Rest of South and Central America Lateral Flow Immunoassay Reader Market by End User
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL LATERAL FLOW IMMUNOASSAY READER 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. LATERAL FLOW IMMUNOASSAY READER MARKET, KEY COMPANY PROFILES
12.1. ABBOTT (ALERE)
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. ABINGDON
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. QIAGEN
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. BD COMPANY
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. AXXIN
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. LRE MEDICAL (ESTERLINE)
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. DETEKT BIOMEDICAL
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. CHEMBIO DIAGNOSTICS (OPTRICON)
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. QUIDEL CORPORATION
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. TRINITY BIOTECH
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
12.11. MAGNASENSE
12.11.1. Key Facts
12.11.2. Business Description
12.11.3. Products and Services
12.11.4. Financial Overview
12.11.5. SWOT Analysis
12.11.6. Key Developments
12.12. BUHLMANN LABORATORIES AG
12.12.1. Key Facts
12.12.2. Business Description
12.12.3. Products and Services
12.12.4. Financial Overview
12.12.5. SWOT Analysis
12.12.6. Key Developments
12.13. FIO CORPORATION
12.13.1. Key Facts
12.13.2. Business Description
12.13.3. Products and Services
12.13.4. Financial Overview
12.13.5. SWOT Analysis
12.13.6. Key Developments
12.14. NOW DIAGNOSTIC(CELLMIC LLC)
12.14.1. Key Facts
12.14.2. Business Description
12.14.3. Products and Services
12.14.4. Financial Overview
12.14.5. SWOT Analysis
12.14.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSA
1. Abbott (Alere)
2. Abingdon
3. QIAGEN
4. BD Company
5. Axxin
6. LRE Medical (Esterline)
7. Detekt Biomedical
8. Chembio Diagnostics (optricon)
9. Quidel Corporation
10. Trinity Biotech
11. Magnasense
12. BUHLMANN Laboratories AG
13. Fio Corporation
14. NOW Diagnostic(Cellmic LLC)
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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