PDX models Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Patient derived xenografts (PDX) are oncology models in which the tissue or cells from a tumor of cancer patients are implanted into an immunodeficient or humanized mouse. PDX models have been used to develop an environment that promotes the natural growth of cancer, its monitoring, and accordingly evaluate the course of treatment for the original cancer patient. Various cancer drugs and therapies can be tested on xenografts to examine their efficacy before administering it to the patient's body. Patient-derived xenografts can be used to help with treatment planning and to understand the best treatment that can be given to the patient. They are also being used to develop new cancer drugs.
MARKET DYNAMICS
The PDX models market is driving due to the increasing demand for personalized medicine, increasing emphasis on cancer research from the government as well as private organizations, and growth in the number of R&D activities in the pharmaceutical industry. However, the high cost of personalized PDX models and stringent regulatory guidelines regarding the ethical use of animals in cancer research are expected to restrain the growth of this market during the forecast period.
MARKET SCOPE
The PDX Models 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 PDX Models market with detailed market segmentation by products and applications. The PDX Models 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 PDX Models market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The PDX Models market is segmented on the basis of type, tumor type, applications and end user. Based on type, the market is segmented as mice models, rat models. On the basis of tumor type market can be segmented as gastrointestinal tumor models, gynecological tumor models, respiratory tumor models, urological tumor models, hematological tumor models, other tumor models. On the basis of applications market can be segmented as preclinical drug development, basic cancer research, biomarker analysis. On the basis of end users market can be segmented as pharmaceutical and biotechnology companies, contract research organizations, academic and research institutions.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the PDX Models 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 PDX Models 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 PDX Models 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 PDX Models 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 PDX Models 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 PDX Models 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 PDX Models 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 PDX Models market in these regions.
MARKET PLAYERS
The report covers key developments in the PDX Models 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 PDX Models market are anticipated to have lucrative growth opportunities in the future with the rising demand for PDX Models in the global market. Below mentioned is the list of few companies engaged in the PDX Models market.
The report also includes the profiles of key players in PDX Models 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.
- Crown Bioscience Inc.
- WuXi AppTec
- Champions Oncology, Inc..
- The Jackson Laboratory
- ONCODESIGN
- Charles River Laboratories International, Inc.
- EPO Berlin-Buch GmBH
- Shanghai LIDE Biotech Co., Ltd.
- Xentech
- Horizon Discovery Group PLC
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 PDX Models Market - By Type
1.3.2 PDX Models Market - By Tumor Type
1.3.3 PDX Models Market - By Application
1.3.4 PDX Models Market - By End Users
1.3.5 PDX Models Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PDX MODELS 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. PDX MODELS 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. PDX MODELS MARKET - GLOBAL MARKET ANALYSIS
6.1. PDX MODELS - GLOBAL MARKET OVERVIEW
6.2. PDX MODELS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. PDX MODELS MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. MICE MODELS
7.3.1. Overview
7.3.2. Mice Models Market Forecast and Analysis
7.4. RAT MODELS
7.4.1. Overview
7.4.2. Rat Models Market Forecast and Analysis
8. PDX MODELS MARKET - REVENUE AND FORECASTS TO 2028 - TUMOR TYPE
8.1. OVERVIEW
8.2. TUMOR TYPE MARKET FORECASTS AND ANALYSIS
8.3. GASTROINTESTINAL TUMOR MODELS
8.3.1. Overview
8.3.2. Gastrointestinal Tumor Models Market Forecast and Analysis
8.4. GYNECOLOGICAL TUMOR MODELS
8.4.1. Overview
8.4.2. Gynecological Tumor Models Market Forecast and Analysis
8.5. RESPIRATORY TUMOR MODELS
8.5.1. Overview
8.5.2. Respiratory Tumor Models Market Forecast and Analysis
8.6. UROLOGICAL TUMOR MODELS
8.6.1. Overview
8.6.2. Urological Tumor Models Market Forecast and Analysis
8.7. HEMATOLOGICAL TUMOR MODELS
8.7.1. Overview
8.7.2. Hematological Tumor Models Market Forecast and Analysis
8.8. OTHER TUMOR MODELS
8.8.1. Overview
8.8.2. Other Tumor Models Market Forecast and Analysis
9. PDX MODELS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. PRECLINICAL DRUG DEVELOPMENT
9.3.1. Overview
9.3.2. Preclinical Drug Development Market Forecast and Analysis
9.4. BASIC CANCER RESEARCH
9.4.1. Overview
9.4.2. Basic Cancer Research Market Forecast and Analysis
9.5. BIOMARKER ANALYSIS
9.5.1. Overview
9.5.2. Biomarker Analysis Market Forecast and Analysis
10. PDX MODELS MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
10.1. OVERVIEW
10.2. END USERS MARKET FORECASTS AND ANALYSIS
10.3. PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
10.3.1. Overview
10.3.2. Pharmaceutical and Biotechnology Companies Market Forecast and Analysis
10.4. CONTRACT RESEARCH ORGANIZATIONS
10.4.1. Overview
10.4.2. Contract Research Organizations Market Forecast and Analysis
10.5. ACADEMIC AND RESEARCH INSTITUTIONS
10.5.1. Overview
10.5.2. Academic and Research Institutions Market Forecast and Analysis
11. PDX MODELS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America PDX Models Market Overview
11.1.2 North America PDX Models Market Forecasts and Analysis
11.1.3 North America PDX Models Market Forecasts and Analysis - By Type
11.1.4 North America PDX Models Market Forecasts and Analysis - By Tumor Type
11.1.5 North America PDX Models Market Forecasts and Analysis - By Application
11.1.6 North America PDX Models Market Forecasts and Analysis - By End Users
11.1.7 North America PDX Models Market Forecasts and Analysis - By Countries
11.1.7.1 United States PDX Models Market
11.1.7.1.1 United States PDX Models Market by Type
11.1.7.1.2 United States PDX Models Market by Tumor Type
11.1.7.1.3 United States PDX Models Market by Application
11.1.7.1.4 United States PDX Models Market by End Users
11.1.7.2 Canada PDX Models Market
11.1.7.2.1 Canada PDX Models Market by Type
11.1.7.2.2 Canada PDX Models Market by Tumor Type
11.1.7.2.3 Canada PDX Models Market by Application
11.1.7.2.4 Canada PDX Models Market by End Users
11.1.7.3 Mexico PDX Models Market
11.1.7.3.1 Mexico PDX Models Market by Type
11.1.7.3.2 Mexico PDX Models Market by Tumor Type
11.1.7.3.3 Mexico PDX Models Market by Application
11.1.7.3.4 Mexico PDX Models Market by End Users
11.2. EUROPE
11.2.1 Europe PDX Models Market Overview
11.2.2 Europe PDX Models Market Forecasts and Analysis
11.2.3 Europe PDX Models Market Forecasts and Analysis - By Type
11.2.4 Europe PDX Models Market Forecasts and Analysis - By Tumor Type
11.2.5 Europe PDX Models Market Forecasts and Analysis - By Application
11.2.6 Europe PDX Models Market Forecasts and Analysis - By End Users
11.2.7 Europe PDX Models Market Forecasts and Analysis - By Countries
11.2.7.1 Germany PDX Models Market
11.2.7.1.1 Germany PDX Models Market by Type
11.2.7.1.2 Germany PDX Models Market by Tumor Type
11.2.7.1.3 Germany PDX Models Market by Application
11.2.7.1.4 Germany PDX Models Market by End Users
11.2.7.2 France PDX Models Market
11.2.7.2.1 France PDX Models Market by Type
11.2.7.2.2 France PDX Models Market by Tumor Type
11.2.7.2.3 France PDX Models Market by Application
11.2.7.2.4 France PDX Models Market by End Users
11.2.7.3 Italy PDX Models Market
11.2.7.3.1 Italy PDX Models Market by Type
11.2.7.3.2 Italy PDX Models Market by Tumor Type
11.2.7.3.3 Italy PDX Models Market by Application
11.2.7.3.4 Italy PDX Models Market by End Users
11.2.7.4 Spain PDX Models Market
11.2.7.4.1 Spain PDX Models Market by Type
11.2.7.4.2 Spain PDX Models Market by Tumor Type
11.2.7.4.3 Spain PDX Models Market by Application
11.2.7.4.4 Spain PDX Models Market by End Users
11.2.7.5 United Kingdom PDX Models Market
11.2.7.5.1 United Kingdom PDX Models Market by Type
11.2.7.5.2 United Kingdom PDX Models Market by Tumor Type
11.2.7.5.3 United Kingdom PDX Models Market by Application
11.2.7.5.4 United Kingdom PDX Models Market by End Users
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific PDX Models Market Overview
11.3.2 Asia-Pacific PDX Models Market Forecasts and Analysis
11.3.3 Asia-Pacific PDX Models Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific PDX Models Market Forecasts and Analysis - By Tumor Type
11.3.5 Asia-Pacific PDX Models Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific PDX Models Market Forecasts and Analysis - By End Users
11.3.7 Asia-Pacific PDX Models Market Forecasts and Analysis - By Countries
11.3.7.1 Australia PDX Models Market
11.3.7.1.1 Australia PDX Models Market by Type
11.3.7.1.2 Australia PDX Models Market by Tumor Type
11.3.7.1.3 Australia PDX Models Market by Application
11.3.7.1.4 Australia PDX Models Market by End Users
11.3.7.2 China PDX Models Market
11.3.7.2.1 China PDX Models Market by Type
11.3.7.2.2 China PDX Models Market by Tumor Type
11.3.7.2.3 China PDX Models Market by Application
11.3.7.2.4 China PDX Models Market by End Users
11.3.7.3 India PDX Models Market
11.3.7.3.1 India PDX Models Market by Type
11.3.7.3.2 India PDX Models Market by Tumor Type
11.3.7.3.3 India PDX Models Market by Application
11.3.7.3.4 India PDX Models Market by End Users
11.3.7.4 Japan PDX Models Market
11.3.7.4.1 Japan PDX Models Market by Type
11.3.7.4.2 Japan PDX Models Market by Tumor Type
11.3.7.4.3 Japan PDX Models Market by Application
11.3.7.4.4 Japan PDX Models Market by End Users
11.3.7.5 South Korea PDX Models Market
11.3.7.5.1 South Korea PDX Models Market by Type
11.3.7.5.2 South Korea PDX Models Market by Tumor Type
11.3.7.5.3 South Korea PDX Models Market by Application
11.3.7.5.4 South Korea PDX Models Market by End Users
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa PDX Models Market Overview
11.4.2 Middle East and Africa PDX Models Market Forecasts and Analysis
11.4.3 Middle East and Africa PDX Models Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa PDX Models Market Forecasts and Analysis - By Tumor Type
11.4.5 Middle East and Africa PDX Models Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa PDX Models Market Forecasts and Analysis - By End Users
11.4.7 Middle East and Africa PDX Models Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa PDX Models Market
11.4.7.1.1 South Africa PDX Models Market by Type
11.4.7.1.2 South Africa PDX Models Market by Tumor Type
11.4.7.1.3 South Africa PDX Models Market by Application
11.4.7.1.4 South Africa PDX Models Market by End Users
11.4.7.2 Saudi Arabia PDX Models Market
11.4.7.2.1 Saudi Arabia PDX Models Market by Type
11.4.7.2.2 Saudi Arabia PDX Models Market by Tumor Type
11.4.7.2.3 Saudi Arabia PDX Models Market by Application
11.4.7.2.4 Saudi Arabia PDX Models Market by End Users
11.4.7.3 U.A.E PDX Models Market
11.4.7.3.1 U.A.E PDX Models Market by Type
11.4.7.3.2 U.A.E PDX Models Market by Tumor Type
11.4.7.3.3 U.A.E PDX Models Market by Application
11.4.7.3.4 U.A.E PDX Models Market by End Users
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America PDX Models Market Overview
11.5.2 South and Central America PDX Models Market Forecasts and Analysis
11.5.3 South and Central America PDX Models Market Forecasts and Analysis - By Type
11.5.4 South and Central America PDX Models Market Forecasts and Analysis - By Tumor Type
11.5.5 South and Central America PDX Models Market Forecasts and Analysis - By Application
11.5.6 South and Central America PDX Models Market Forecasts and Analysis - By End Users
11.5.7 South and Central America PDX Models Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil PDX Models Market
11.5.7.1.1 Brazil PDX Models Market by Type
11.5.7.1.2 Brazil PDX Models Market by Tumor Type
11.5.7.1.3 Brazil PDX Models Market by Application
11.5.7.1.4 Brazil PDX Models Market by End Users
11.5.7.2 Argentina PDX Models Market
11.5.7.2.1 Argentina PDX Models Market by Type
11.5.7.2.2 Argentina PDX Models Market by Tumor Type
11.5.7.2.3 Argentina PDX Models Market by Application
11.5.7.2.4 Argentina PDX Models Market by End Users
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL PDX MODELS MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Rest of the World
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. PDX MODELS MARKET, KEY COMPANY PROFILES
14.1. CROWN BIOSCIENCE INC.
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. WUXI APPTEC
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. CHAMPIONS ONCOLOGY, INC.
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. THE JACKSON LABORATORY
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. ONCODESIGN
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. EPO BERLIN-BUCH GMBH
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. SHANGHAI LIDE BIOTECH CO., LTD.
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. XENTECH
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. HORIZON DISCOVERY GROUP PLC
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Crown Bioscience Inc.
2. WuXi AppTec
3. Champions Oncology, Inc..
4. The Jackson Laboratory
5. ONCODESIGN
6. Charles River Laboratories International, Inc.
7. EPO Berlin-Buch GmBH
8. Shanghai LIDE Biotech Co., Ltd.
9. Xentech
10. Horizon Discovery Group PLC
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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