Point of Care Glucose Testing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET OVERVIEW Mrinal Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Point of care testing (POCT) is a medical diagnostic technique used to monitor diabetic patients. Point of care Glucose testing has been used as a valuable tool for patients with diabetes to manage their condition in an outpatient setting. In addition, the ability to instantly share test results with healthcare providers is ensured by glucose testing equipment and electronic medical records. This device helps decrease the turnaround time and rapid decision-making abilities and improves patient care; high needs will increase the growth of the point of care glucose testing market. POCT in glucose testing leads to the reversal of life-threatening conditions such as hypoglycemic seizures and diabetic ketoacidosis.
The "Global Point of Care Glucose Testing Market Analysis to 2028" is a specialized and in-depth study of the medical devices industry with a special focus on global market trend analysis. The report aims to provide an overview of the point of care glucose testing market with detailed market segmentation by type, testing site, end-user, and geography. The report provides key statistics on the market status of the leading point of care glucose testing market players and offers key trends and opportunities in the market.
MARKET DRIVERS
Factors driving the point of care glucose testing market growth are the rapid growth of healthcare infrastructure, the high incidence of diabetes and the growing demand for home healthcare, and the increase in the adoption of point of care glucose testing devices in healthcare centers. However, issues related to calibration of glucometers and stringent regulatory framework hampers the point of care glucose testing market growth. The high incidence of diabetes is boosting the market growth. For instance, according to the International Diabetes Federation estimations, by 2045, 1 in 8 adults, approximately 783 million, will be living with diabetes, an increase of 46%. In the point of care for glucose testing market, several players are introducing new technologies. For instance, In Jan 2022, Roche launched hand-held Cobas pulse a new Point of Care blood glucose monitor for hospital professionals at the J.P. Morgan Health Conference. A Cobas pulse device hardened body that can be cleaned with disinfectants has an auxiliary unit shaped like a touchscreen to record other diagnostic results. Whereas the absence of adequate health facilities and insufficient awareness about regular glucose testing contribute to the increase in prevalence, especially in low and medium-income countries. Furthermore, to support the adoption of efficient monitoring and control measures for diabetes several government initiatives have been undertaken in emerging countries. Thus, the high incidence of diabetes and the growing demand for home healthcare is fueling the point of care glucose testing market growth.
GLOBAL SEGMENTAL ANALYSIS
The global point of care glucose testing market is segmented into type, testing site, and end-user. Type segment is further subsegmented as strips, lancets & lancing devices, and meters. Based on the testing site, the market is segmented into fingertip testing and alternate site testing. Based on end user the market is segmented into diagnostic centers, hospitals and clinics, research labs, and others. Furthermore, diagnostic centers accommodate significant share of the global point of care (POC) glucose testing market. The point of care (POC) glucose monitoring devices, which make it easier for patients to do everyday tasks, enable them to continuously survey their blood glucose levels at home. These devices are also utilized in hospital settings for their ease of use and rapid results. To ensure sufficient demand for diabetes monitoring technologies at all hospitals, clinics, and other healthcare facilities, several glucose meters have been introduced in the industry. Thus, the diagnostic centers segment drives the point of care glucose testing market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & central America. The point of care glucose testing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an 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 point of care glucose testing market in these regions.
North America is expected to be the fastest-growing point of care glucose testing market region. North America, due to rising incidences of diabetes and other types of chronic disorders, the growth in product development and their approval, as well as increased government initiatives, has become one of the most profitable markets for point-of-use glucose testing.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & central America. The point of care glucose testing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an 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 point of care glucose testing market in these regions.
North America is expected to be the fastest-growing point of care glucose testing market region. North America, due to rising incidences of diabetes and other types of chronic disorders, the growth in product development and their approval, as well as increased government initiatives, has become one of the most profitable markets for point-of-use glucose testing.
MARKET PLAYERS
The report covers key developments in the point of care glucose 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 activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market payers from the point of care glucose testing market are anticipated to have lucrative growth opportunities in the future with the rising demand for point of care glucose testing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the point of care glucose testing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- HOFFMANN-LA-ROCHE DIABETES CARE LTD
- ABBOTT
- LIFESCAN IP HOLDINGS, LLC
- ASCENSIA DIABETES CARE
- TRIVIDIA HEALTH
- NOVA BIOMEDICAL
- SIEMENS CORPORATION
- INSTRUMENTATION LABORATORIES
- QUIDEL
- JOHNSON & JOHNSON
Recent Developments
- In Oct 2022, Nova Biomedical, The US Food and Drug Administration cleared Nova Primary as a blood glucose reference analyzer. Nova Primary can provide a new reference glucose analyzer instead of the old YSI PlusSTAT 2300 and LLactate analyzer OHYSI, INC., Yellow Springs, which are no longer needed.
- In June 2022, Abbott Laboratories reported the development of a new biotechnological device which is continuously monitoring glucose and ketones in one sensor. The system has secured breakthrough device designation from the U.S. Food and Drug Administration, designed to expedite the review of innovative technologies that can improve the lives of people with life-threatening diseases or conditions.
- In Nov 2022, Ascensia Diabetes Care, a global diabetes care company, maker of the CONTOUR blood glucose monitoring (BGM) system portfolio and exclusive distributor of Eversense Continuous Glucose Monitoring (CGM) Systems, launched its online diabetes management and analytics platform GlucoContro.online in the US.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Table of Content
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Point of Care Glucose Testing Market - By Type
1.3.2 Point of Care Glucose Testing Market - By Testing Site
1.3.3 Point of Care Glucose Testing Market - By End-User
1.3.4 Point of Care Glucose Testing Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POINT OF CARE GLUCOSE 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. POINT OF CARE GLUCOSE 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. POINT OF CARE GLUCOSE TESTING MARKET - GLOBAL MARKET ANALYSIS
6.1. POINT OF CARE GLUCOSE TESTING - GLOBAL MARKET OVERVIEW
6.2. POINT OF CARE GLUCOSE TESTING - GLOBAL MARKET AND FORECAST TO 2030
6.3. MARKET POSITIONING
7. POINT OF CARE GLUCOSE TESTING MARKET - REVENUE AND FORECASTS TO 2030 – TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. STRIPS
7.3.1. Overview
7.3.2. Strips Market Forecast and Analysis
7.4. LANCETS AND LANCING DEVICES
7.4.1. Overview
7.4.2. Lancets and Lancing Devices Market Forecast and Analysis
7.5. METERS
7.5.1. Overview
7.5.2. Meters Market Forecast and Analysis
8. POINT OF CARE GLUCOSE TESTING MARKET - REVENUE AND FORECASTS TO 2030 – TESTING SITE
8.1. OVERVIEW
8.2. TESTING SITE MARKET FORECASTS AND ANALYSIS
8.3. FINGERTIP TESTING
8.3.1. Overview
8.3.2. Fingertip Testing Market Forecast and Analysis
8.4. ALTERNATE SITE TESTING
8.4.1. Overview
8.4.2. Alternate Site Testing Market Forecast and Analysis
9. POINT OF CARE GLUCOSE TESTING MARKET - REVENUE AND FORECASTS TO 2030 – END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. DIAGNOSTIC CENTERS
9.3.1. Overview
9.3.2. Diagnostic Centers Market Forecast and Analysis
9.4. HOSPITALS AND CLINICS
9.4.1. Overview
9.4.2. Hospitals and Clinics Market Forecast and Analysis
9.5. RESEARCH LABS
9.5.1. Overview
9.5.2. Research Labs Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. POINT OF CARE GLUCOSE TESTING MARKET REVENUE AND FORECASTS TO 2030 – GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Point of Care Glucose Testing Market Overview
10.1.2 North America Point of Care Glucose Testing Market Forecasts and Analysis
10.1.3 North America Point of Care Glucose Testing Market Forecasts and Analysis - By Type
10.1.4 North America Point of Care Glucose Testing Market Forecasts and Analysis - By Testing Site
10.1.5 North America Point of Care Glucose Testing Market Forecasts and Analysis - By End-User
10.1.6 North America Point of Care Glucose Testing Market Forecasts and Analysis - By Countries
10.1.6.1 United States Point of Care Glucose Testing Market
10.1.6.1.1 United States Point of Care Glucose Testing Market by Type
10.1.6.1.2 United States Point of Care Glucose Testing Market by Testing Site
10.1.6.1.3 United States Point of Care Glucose Testing Market by End-User
10.1.6.2 Canada Point of Care Glucose Testing Market
10.1.6.2.1 Canada Point of Care Glucose Testing Market by Type
10.1.6.2.2 Canada Point of Care Glucose Testing Market by Testing Site
10.1.6.2.3 Canada Point of Care Glucose Testing Market by End-User
10.1.6.3 Mexico Point of Care Glucose Testing Market
10.1.6.3.1 Mexico Point of Care Glucose Testing Market by Type
10.1.6.3.2 Mexico Point of Care Glucose Testing Market by Testing Site
10.1.6.3.3 Mexico Point of Care Glucose Testing Market by End-User
10.2. EUROPE
10.2.1 Europe Point of Care Glucose Testing Market Overview
10.2.2 Europe Point of Care Glucose Testing Market Forecasts and Analysis
10.2.3 Europe Point of Care Glucose Testing Market Forecasts and Analysis - By Type
10.2.4 Europe Point of Care Glucose Testing Market Forecasts and Analysis - By Testing Site
10.2.5 Europe Point of Care Glucose Testing Market Forecasts and Analysis - By End-User
10.2.6 Europe Point of Care Glucose Testing Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Point of Care Glucose Testing Market
10.2.6.1.1 Germany Point of Care Glucose Testing Market by Type
10.2.6.1.2 Germany Point of Care Glucose Testing Market by Testing Site
10.2.6.1.3 Germany Point of Care Glucose Testing Market by End-User
10.2.6.2 France Point of Care Glucose Testing Market
10.2.6.2.1 France Point of Care Glucose Testing Market by Type
10.2.6.2.2 France Point of Care Glucose Testing Market by Testing Site
10.2.6.2.3 France Point of Care Glucose Testing Market by End-User
10.2.6.3 Italy Point of Care Glucose Testing Market
10.2.6.3.1 Italy Point of Care Glucose Testing Market by Type
10.2.6.3.2 Italy Point of Care Glucose Testing Market by Testing Site
10.2.6.3.3 Italy Point of Care Glucose Testing Market by End-User
10.2.6.4 Spain Point of Care Glucose Testing Market
10.2.6.4.1 Spain Point of Care Glucose Testing Market by Type
10.2.6.4.2 Spain Point of Care Glucose Testing Market by Testing Site
10.2.6.4.3 Spain Point of Care Glucose Testing Market by End-User
10.2.6.5 United Kingdom Point of Care Glucose Testing Market
10.2.6.5.1 United Kingdom Point of Care Glucose Testing Market by Type
10.2.6.5.2 United Kingdom Point of Care Glucose Testing Market by Testing Site
10.2.6.5.3 United Kingdom Point of Care Glucose Testing Market by End-User
10.2.6.6 Rest of Europe Point of Care Glucose Testing Market
10.2.6.6.1 Rest of Europe Point of Care Glucose Testing Market by Type
10.2.6.6.2 Rest of Europe Point of Care Glucose Testing Market by Testing Site
10.2.6.6.3 Rest of Europe Point of Care Glucose Testing Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Point of Care Glucose Testing Market Overview
10.3.2 Asia-Pacific Point of Care Glucose Testing Market Forecasts and Analysis
10.3.3 Asia-Pacific Point of Care Glucose Testing Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific Point of Care Glucose Testing Market Forecasts and Analysis - By Testing Site
10.3.5 Asia-Pacific Point of Care Glucose Testing Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Point of Care Glucose Testing Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Point of Care Glucose Testing Market
10.3.6.1.1 Australia Point of Care Glucose Testing Market by Type
10.3.6.1.2 Australia Point of Care Glucose Testing Market by Testing Site
10.3.6.1.3 Australia Point of Care Glucose Testing Market by End-User
10.3.6.2 China Point of Care Glucose Testing Market
10.3.6.2.1 China Point of Care Glucose Testing Market by Type
10.3.6.2.2 China Point of Care Glucose Testing Market by Testing Site
10.3.6.2.3 China Point of Care Glucose Testing Market by End-User
10.3.6.3 India Point of Care Glucose Testing Market
10.3.6.3.1 India Point of Care Glucose Testing Market by Type
10.3.6.3.2 India Point of Care Glucose Testing Market by Testing Site
10.3.6.3.3 India Point of Care Glucose Testing Market by End-User
10.3.6.4 Japan Point of Care Glucose Testing Market
10.3.6.4.1 Japan Point of Care Glucose Testing Market by Type
10.3.6.4.2 Japan Point of Care Glucose Testing Market by Testing Site
10.3.6.4.3 Japan Point of Care Glucose Testing Market by End-User
10.3.6.5 South Korea Point of Care Glucose Testing Market
10.3.6.5.1 South Korea Point of Care Glucose Testing Market by Type
10.3.6.5.2 South Korea Point of Care Glucose Testing Market by Testing Site
10.3.6.5.3 South Korea Point of Care Glucose Testing Market by End-User
10.3.6.6 Rest of Asia-Pacific Point of Care Glucose Testing Market
10.3.6.6.1 Rest of Asia-Pacific Point of Care Glucose Testing Market by Type
10.3.6.6.2 Rest of Asia-Pacific Point of Care Glucose Testing Market by Testing Site
10.3.6.6.3 Rest of Asia-Pacific Point of Care Glucose Testing Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Point of Care Glucose Testing Market Overview
10.4.2 Middle East and Africa Point of Care Glucose Testing Market Forecasts and Analysis
10.4.3 Middle East and Africa Point of Care Glucose Testing Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa Point of Care Glucose Testing Market Forecasts and Analysis - By Testing Site
10.4.5 Middle East and Africa Point of Care Glucose Testing Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Point of Care Glucose Testing Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Point of Care Glucose Testing Market
10.4.6.1.1 South Africa Point of Care Glucose Testing Market by Type
10.4.6.1.2 South Africa Point of Care Glucose Testing Market by Testing Site
10.4.6.1.3 South Africa Point of Care Glucose Testing Market by End-User
10.4.6.2 Saudi Arabia Point of Care Glucose Testing Market
10.4.6.2.1 Saudi Arabia Point of Care Glucose Testing Market by Type
10.4.6.2.2 Saudi Arabia Point of Care Glucose Testing Market by Testing Site
10.4.6.2.3 Saudi Arabia Point of Care Glucose Testing Market by End-User
10.4.6.3 U.A.E Point of Care Glucose Testing Market
10.4.6.3.1 U.A.E Point of Care Glucose Testing Market by Type
10.4.6.3.2 U.A.E Point of Care Glucose Testing Market by Testing Site
10.4.6.3.3 U.A.E Point of Care Glucose Testing Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Point of Care Glucose Testing Market Overview
10.5.2 South and Central America Point of Care Glucose Testing Market Forecasts and Analysis
10.5.3 South and Central America Point of Care Glucose Testing Market Forecasts and Analysis - By Type
10.5.4 South and Central America Point of Care Glucose Testing Market Forecasts and Analysis - By Testing Site
10.5.5 South and Central America Point of Care Glucose Testing Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Point of Care Glucose Testing Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Point of Care Glucose Testing Market
10.5.6.1.1 Brazil Point of Care Glucose Testing Market by Type
10.5.6.1.2 Brazil Point of Care Glucose Testing Market by Testing Site
10.5.6.1.3 Brazil Point of Care Glucose Testing Market by End-User
10.5.6.2 Argentina Point of Care Glucose Testing Market
10.5.6.2.1 Argentina Point of Care Glucose Testing Market by Type
10.5.6.2.2 Argentina Point of Care Glucose Testing Market by Testing Site
10.5.6.2.3 Argentina Point of Care Glucose Testing Market by End-User
10.5.6.3 Rest of South and Central America Point of Care Glucose Testing Market
10.5.6.3.1 Rest of South and Central America Point of Care Glucose Testing Market by Type
10.5.6.3.2 Rest of South and Central America Point of Care Glucose Testing Market by Testing Site
10.5.6.3.3 Rest of South and Central America Point of Care Glucose Testing Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL POINT OF CARE GLUCOSE TESTING MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. POINT OF CARE GLUCOSE TESTING MARKET, KEY COMPANY PROFILES
13.1. HOFFMANN-LA-ROCHE DIABETES CARE LTD.
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. ABBOTT
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. LIFESCAN IP HOLDINGS, LLC
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. ASCENSIA DIABETES CARE
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. TRIVIDIA HEALTH
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. NOVA BIOMEDICAL
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. SIEMENS 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. INSTRUMENTATION LABORATORIES
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. QUIDEL
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. JOHNSON & JOHNSON.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. HOFFMANN-LA-ROCHE DIABETES CARE LTD
2. ABBOTT
3. LIFESCAN IP HOLDINGS, LLC
4. ASCENSIA DIABETES CARE
5. TRIVIDIA HEALTH
6. NOVA BIOMEDICAL
7. SIEMENS CORPORATION
8. INSTRUMENTATION LABORATORIES
9. QUIDEL
10. JOHNSON & JOHNSON
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
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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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