Mammography Market [2021-2031] - Size, Share
The Mammography Market is expected to register a CAGR of 9.85% 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 Technology (Digital Technology, CAD, and 3D Technology), Product (Analog Mammography Systems, Digital Mammography Machines, and Breast Tomosynthesis), End User (Hospitals, Ambulatory Surgical Centers, and Specialized Diagnostic Centers)
Purpose of the ReportThe report Mammography 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.
Mammography Market Segmentation
By Technology- Digital Technology
- CAD
- 3D Technology
- Analog Mammography Systems
- Digital Mammography Machines
- Breast Tomosynthesis
- Ambulatory Surgical Centers
- Hospitals & clinics
- Others
Strategic Insights
Mammography Market Growth Drivers- Increasing Incidence of Breast Cancer: The global burden of breast cancer is rising, primarily due to changing lifestyles and environments, as well as from increased awareness and screening of the disease. While some of the increase in cases, the detection of breast cancer using x-ray pictures of breasts called mammograms is also a considerable aspect. Health organizations advocate women most especially above 40 or 50 years depending on the risk factors should do regular screening tests using x-rays of the breast called mammograms. The introduction of screening programs has increased the number of breast cancer cases diagnosed complicatedly, especially among younger women who were not routinely screened before.
- Aging Population: As the women grows older, breast cancer is also on the rise and this is because of the age factor associated with the disease. Most of the cancer cases are reported for women aged over 50 years. Therefore, it is essential for women over this age to keep on undertaking regular screenings. The issue of when to cease screening is however an area that is contentious as the advantages and disadvantages particularly those associated with false positive and over diagnosis are considerations. There is need for such approaches as the screening initiatives for such aged women population have to recommend age prudent individualized screening schedules.
- Technological Advancements: Emerging technologies in mammography techniques such as digital mammography and 3d tomosynthesis have enhanced the diagnostic power especially among patients with complicated breast structures. These methods help in imaging and separating cancerous from normal growths for the radiologists thus lowering the risk of undertaking unnecessary surgical procedures to remove non-threatening tissues. With the rapid development of AI instrumental for machine learning systems especially in the field of radiology, it is also employed in reading mammograms focusing on identifying tumours that might be overlooked by the human eye. This can reduce the workload on radiologists and improve screening accuracy, providing valuable support in clinical decision-making
- Shift Towards Personalized Medicine: There is a growing awareness that one-size-fits-all approaches may not be most effective. Personalized medicine in the context of mammography is based on assessing the individual risk like family history, genetics and breast density. This empowers healthcare professionals to tailor when and how women are screened for cancer, thus improving chances of detecting cancer early to a great extent bettering patient prognosis. However, with the enhancement of genetic testing, it is now possible to more accurately evaluate the likelihood of developing breast cancer. Given that more women are undergoing genetic abnormalities testing for breast cancer such as the BRCA1 and BRCA2 mutations, it is possible to fine-tune the mammography approach. Greater focus on patient involvement in the process of forming the screening strategy is manifest together with presenting the patients’ values and preferences. This transition is likely to contribute to the improve acceptance of screening recommendations as well as the care experienced by the patients.
- Integration of Artificial Intelligence (AI): Mobile mammography units are important in accessing and reaching out to populations that are at risk of being underserved, especially in rural or low-income areas where healthcare facilities are scarce. It is these units that bring screening services to the doorsteps of the women, helping to create awareness and compliance on mammography screening. A good number of the health care organizations nowadays are sourcing for support from the local authorities and non-profit organizations in providing these services as part of the community health care intervention. Such programs also tend to include informing people about the disease breast cancer and sensitizing them about the need to screen for it. This tends to lowers the patient volume in such services during the traditional years, however it provides readily available services with high quality diagnostic images. Some of these units are now combining the technology of digitalization in carrying out mammography system and even tomosynthesis where 3D imaging is done, which enhances detection of breast cancers.
- Mobile Mammography Units: Over the recent years, the use of AI solutions has also been incorporated to assist the radiologists interpreting mammograms. AI enables improvement in the accuracy and efficiency of readings by reducing both false positives and false negatives. Such systems can help reduce the turnaround times in the reporting process of patients by organizing cases in a hierarchical manner whereby urgent cases are tackled first. This improves the quality of services offered to the patients and also helps in resource management in the organizations. AI deals with big data and does statistical modeling to highlight patterns and risk factors which helps in designing more effective screening policy and strategies. Such ability enables them to support the decision making processes of the clinicians in regard to the patients care.
- Home-Based Screening Technologies: Screening, particularly in the rural or unserved regions, can benefit from Portable Mammography Devices with the ability for it to be used indoors and in areas with less resources. The advancements in smaller, easier-to-use devices may encourage women to become more proactive with their healthcare. Home-based screening would also have teleconsultation services, which would allow patients to consult a doctor without booking an appointment with them. Such devices are tailored to treat the patient’s anxiety; step-by-step assists them to overcome the fear, and explain and interpret the results. If people are encouraged to use home-based mammograms aided by digital enhancement, then the potential for diagnosis of breast cancer at earlier stages may become more prevalent.
- Expansion of Insurance Coverage: With more countries insisting on better access to health care, so also does the need become pressing for insurance coverage for home based screening device as well as technologies for newer and better mammography such as the 3D mammography. Already, Insurers are making it mandatory to screen for a broader range of high-risk patients e.g. those with a family member who had breast cancer which will increase the uptake of such screenings hence there is mammography market growth. Where the economic model in place for more comprehensive services such as the mammogram is the bundled diagnostic service, this can enhance the ease of payment and potentially motivate the providers to include screening mammograms.
- Research and Development: Researchers are consistently looking for more advanced imaging techniques (3D mammography, MRI, ultrasound with mammography) in particular breast cancer diagnosis. Enhancing available technology and techniques is likely to increase the sensitivity and specificity of breast cancer screening. Thus, there is the potential for some investment in finding and proving new biomarkers which might allow for some sort of non-invasive screening option or assist in more clearly defining the risks. Development of applications incorporating artificial intelligence to assist the interpretation of mammograms may lead to improvement of efficiency, and a reduction of the crucial miss/overcall ratios. Demonstrating the use of emerging mammography technologies and home screening devices in clinical trials can help garner positive outcomes that support the use of such devices in the larger market and reimbursement.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Mammography 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 Mammography 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
Have a question?
Mrinal
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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.
Frequently Asked Questions
The mammography market is estimated to grow with a CAGR of 9.8% from 2023 to 2031.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The mammography market majorly consists of the players such as Siemens AG, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS CORPORATION among others.
Mobile Mammography Units is likely to remain the key trend during the forecast period
The market drivers include Increasing Incidence of Breast Cancer and Technological Advancements are driving the mammography market
North America dominated the mammography market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Mammography Market - By Technology
1.3.2 Mammography Market - By Product
1.3.3 Mammography Market - By End User
1.3.4 Mammography Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MAMMOGRAPHY 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. MAMMOGRAPHY 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. MAMMOGRAPHY MARKET - GLOBAL MARKET ANALYSIS
6.1. MAMMOGRAPHY - GLOBAL MARKET OVERVIEW
6.2. MAMMOGRAPHY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MAMMOGRAPHY MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. DIGITAL TECHNOLOGY
7.3.1. Overview
7.3.2. Digital Technology Market Forecast and Analysis
7.4. CAD
7.4.1. Overview
7.4.2. CAD Market Forecast and Analysis
7.5. 3D TECHNOLOGY
7.5.1. Overview
7.5.2. 3D Technology Market Forecast and Analysis
8. MAMMOGRAPHY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. ANALOG MAMMOGRAPHY SYSTEMS
8.3.1. Overview
8.3.2. Analog Mammography Systems Market Forecast and Analysis
8.4. DIGITAL MAMMOGRAPHY MACHINES
8.4.1. Overview
8.4.2. Digital Mammography Machines Market Forecast and Analysis
8.5. BREAST TOMOSYNTHESIS
8.5.1. Overview
8.5.2. Breast Tomosynthesis Market Forecast and Analysis
9. MAMMOGRAPHY MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. AMBULATORY SURGICAL CENTERS
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.5. SPECIALIZED DIAGNOSTIC CENTERS
9.5.1. Overview
9.5.2. Specialized Diagnostic Centers Market Forecast and Analysis
10. MAMMOGRAPHY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Mammography Market Overview
10.1.2 North America Mammography Market Forecasts and Analysis
10.1.3 North America Mammography Market Forecasts and Analysis - By Technology
10.1.4 North America Mammography Market Forecasts and Analysis - By Product
10.1.5 North America Mammography Market Forecasts and Analysis - By End User
10.1.6 North America Mammography Market Forecasts and Analysis - By Countries
10.1.6.1 United States Mammography Market
10.1.6.1.1 United States Mammography Market by Technology
10.1.6.1.2 United States Mammography Market by Product
10.1.6.1.3 United States Mammography Market by End User
10.1.6.2 Canada Mammography Market
10.1.6.2.1 Canada Mammography Market by Technology
10.1.6.2.2 Canada Mammography Market by Product
10.1.6.2.3 Canada Mammography Market by End User
10.1.6.3 Mexico Mammography Market
10.1.6.3.1 Mexico Mammography Market by Technology
10.1.6.3.2 Mexico Mammography Market by Product
10.1.6.3.3 Mexico Mammography Market by End User
10.2. EUROPE
10.2.1 Europe Mammography Market Overview
10.2.2 Europe Mammography Market Forecasts and Analysis
10.2.3 Europe Mammography Market Forecasts and Analysis - By Technology
10.2.4 Europe Mammography Market Forecasts and Analysis - By Product
10.2.5 Europe Mammography Market Forecasts and Analysis - By End User
10.2.6 Europe Mammography Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Mammography Market
10.2.6.1.1 Germany Mammography Market by Technology
10.2.6.1.2 Germany Mammography Market by Product
10.2.6.1.3 Germany Mammography Market by End User
10.2.6.2 France Mammography Market
10.2.6.2.1 France Mammography Market by Technology
10.2.6.2.2 France Mammography Market by Product
10.2.6.2.3 France Mammography Market by End User
10.2.6.3 Italy Mammography Market
10.2.6.3.1 Italy Mammography Market by Technology
10.2.6.3.2 Italy Mammography Market by Product
10.2.6.3.3 Italy Mammography Market by End User
10.2.6.4 Spain Mammography Market
10.2.6.4.1 Spain Mammography Market by Technology
10.2.6.4.2 Spain Mammography Market by Product
10.2.6.4.3 Spain Mammography Market by End User
10.2.6.5 United Kingdom Mammography Market
10.2.6.5.1 United Kingdom Mammography Market by Technology
10.2.6.5.2 United Kingdom Mammography Market by Product
10.2.6.5.3 United Kingdom Mammography Market by End User
10.2.6.6 Rest of Europe Mammography Market
10.2.6.6.1 Rest of Europe Mammography Market by Technology
10.2.6.6.2 Rest of Europe Mammography Market by Product
10.2.6.6.3 Rest of Europe Mammography Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Mammography Market Overview
10.3.2 Asia-Pacific Mammography Market Forecasts and Analysis
10.3.3 Asia-Pacific Mammography Market Forecasts and Analysis - By Technology
10.3.4 Asia-Pacific Mammography Market Forecasts and Analysis - By Product
10.3.5 Asia-Pacific Mammography Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Mammography Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Mammography Market
10.3.6.1.1 Australia Mammography Market by Technology
10.3.6.1.2 Australia Mammography Market by Product
10.3.6.1.3 Australia Mammography Market by End User
10.3.6.2 China Mammography Market
10.3.6.2.1 China Mammography Market by Technology
10.3.6.2.2 China Mammography Market by Product
10.3.6.2.3 China Mammography Market by End User
10.3.6.3 India Mammography Market
10.3.6.3.1 India Mammography Market by Technology
10.3.6.3.2 India Mammography Market by Product
10.3.6.3.3 India Mammography Market by End User
10.3.6.4 Japan Mammography Market
10.3.6.4.1 Japan Mammography Market by Technology
10.3.6.4.2 Japan Mammography Market by Product
10.3.6.4.3 Japan Mammography Market by End User
10.3.6.5 South Korea Mammography Market
10.3.6.5.1 South Korea Mammography Market by Technology
10.3.6.5.2 South Korea Mammography Market by Product
10.3.6.5.3 South Korea Mammography Market by End User
10.3.6.6 Rest of Asia-Pacific Mammography Market
10.3.6.6.1 Rest of Asia-Pacific Mammography Market by Technology
10.3.6.6.2 Rest of Asia-Pacific Mammography Market by Product
10.3.6.6.3 Rest of Asia-Pacific Mammography Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Mammography Market Overview
10.4.2 Middle East and Africa Mammography Market Forecasts and Analysis
10.4.3 Middle East and Africa Mammography Market Forecasts and Analysis - By Technology
10.4.4 Middle East and Africa Mammography Market Forecasts and Analysis - By Product
10.4.5 Middle East and Africa Mammography Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Mammography Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Mammography Market
10.4.6.1.1 South Africa Mammography Market by Technology
10.4.6.1.2 South Africa Mammography Market by Product
10.4.6.1.3 South Africa Mammography Market by End User
10.4.6.2 Saudi Arabia Mammography Market
10.4.6.2.1 Saudi Arabia Mammography Market by Technology
10.4.6.2.2 Saudi Arabia Mammography Market by Product
10.4.6.2.3 Saudi Arabia Mammography Market by End User
10.4.6.3 U.A.E Mammography Market
10.4.6.3.1 U.A.E Mammography Market by Technology
10.4.6.3.2 U.A.E Mammography Market by Product
10.4.6.3.3 U.A.E Mammography Market by End User
10.4.6.4 Rest of Middle East and Africa Mammography Market
10.4.6.4.1 Rest of Middle East and Africa Mammography Market by Technology
10.4.6.4.2 Rest of Middle East and Africa Mammography Market by Product
10.4.6.4.3 Rest of Middle East and Africa Mammography Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Mammography Market Overview
10.5.2 South and Central America Mammography Market Forecasts and Analysis
10.5.3 South and Central America Mammography Market Forecasts and Analysis - By Technology
10.5.4 South and Central America Mammography Market Forecasts and Analysis - By Product
10.5.5 South and Central America Mammography Market Forecasts and Analysis - By End User
10.5.6 South and Central America Mammography Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Mammography Market
10.5.6.1.1 Brazil Mammography Market by Technology
10.5.6.1.2 Brazil Mammography Market by Product
10.5.6.1.3 Brazil Mammography Market by End User
10.5.6.2 Argentina Mammography Market
10.5.6.2.1 Argentina Mammography Market by Technology
10.5.6.2.2 Argentina Mammography Market by Product
10.5.6.2.3 Argentina Mammography Market by End User
10.5.6.3 Rest of South and Central America Mammography Market
10.5.6.3.1 Rest of South and Central America Mammography Market by Technology
10.5.6.3.2 Rest of South and Central America Mammography Market by Product
10.5.6.3.3 Rest of South and Central America Mammography Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL MAMMOGRAPHY 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 JOINT VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. MAMMOGRAPHY MARKET, KEY COMPANY PROFILES
13.1. SIEMENS
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. KONINKLIJKE PHILIPS N.V.
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. CANON MEDICAL SYSTEMS CORPORATION
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. GENERAL ELECTRIC
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. HOLOGIC, INC.
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. ANALOGIC CORPORATION
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. FUJIFILM HOLDINGS 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. PLANMED OY
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. KONICA MINOLTA BUSINESS SOLUTIONS U.S.A., INC.
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. CARESTREAM HEALTH
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. Siemens AG
2. Koninklijke Philips N.V.
3. CANON MEDICAL SYSTEMS CORPORATION
4. GENERAL ELECTRIC
5. Hologic Inc.
6. Analogic Corporation
7. FUJIFILM Holdings Corporation
8. PLANMED OY
9. Carestream Health
10. Konica Minolta Business Solutions U.S.A., 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.
Get Free Sample For