Point of Care Testing Market Overview and Forecast by 2031
The Point of Care Testing Market is expected to register a CAGR of 10.4% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The study report segregates the Point of Care Testing market based on product type, application, end user, and geography. Global analysis includes regional-level analysis focusing major markets across every continent. Market share is determined based upon each segment in US$ Mn along with the CAGR% during the forecast period to show an overall market trend and dynamics.
The different varieties of point-of-care testing devices dealt with in the report include blood glucose monitors, infectious disease testing kits, and cardiac markers, among many others. This report describes uses related to these within hospitals, clinics, home care, and emergency care. The document mentions different distribution channels like online platforms, direct sales, and medical supply distributors. It draws on how changes in consumer needs and healthcare practices bring changes in market growth.
The report Point of Care Testing 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.
Point of Care Testing Market Segmentation
Product- Glucose Monitoring Products
- Cardiometabolic Testing Products
- Infectious Disease Testing Products
- Coagulation Testing Products
- Pregnancy and Fertility Testing Products
- Urinalysis Testing Products
- Hematology Testing Products
- Lateral Flow Assays
- Dipsticks
- Microfluidics
- Molecular Diagnostics
- Immunoassays
- Research & Development
- Diagnosis
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Point of Care Testing Market Growth Drivers- Increasing demand for rapid diagnostic results: The health professional and patient need quicker answers to medical conditions, which POCT will provide. These tests will also help clinicians make faster decisions that will improve outcomes, especially in emergency and primary care settings, with results ready within minutes.
- Rising incidences of chronic diseases: Increased cases chronic health conditions such as diabetes and cardiovascular disorders, that demand frequent monitoring. Point-of-care testing devices help patients be more in control of their health through self-testing, hence adopting better healthcare habits. With these diseases burden continuing to increase across the globe, the demand for POCT solutions is likely to surge.
- Technological advancements: The technological innovations in testing technologies have developed more accurate, user-friendly, and portable devices. These technological advances facilitate the testing activity of healthcare professionals at the point of care itself, reducing dependency on laboratory infrastructure.
- Integration of Artificial Intelligence:
Artificial intelligence integrated into POCT devices will enhance the diagnostic accuracy of the tests and provide support to make better decisions. AI algorithms are able to analyze test results in real-time, hence providing actionable insights to healthcare professionals that would lead to better patient outcomes.
- Expansion of Home Testing Solutions: This trend in home testing will surge because consumers seek convenience and quick results. POCT devices will be made more for home use to enable patients to monitor their ailments without necessarily having to frequent healthcare facilities.
- Integration of Telehealth: As telehealth grows, integrating POCT with telemedicine platforms will provide much-needed seamless patient monitoring. Health professionals can use the test results to provide consultations remotely, therefore improving access to care and facilitating the management of chronic diseases
- Multiplex Test Emphasis: This demand will further increase the requirements for multiplex testing, which will allow the testing of several conditions and/or pathogens simultaneously. This will ease the process and enhance efficiency, especially in infectious disease management.
- User-friendly Devices: First, there is an obvious opportunity for higher-end, user-friendly devices to meet demands for speed and accuracy. As health care becomes increasingly decentralized, companies are positioning themselves to take advantage of the trend by designing portable and efficient testing solutions suitable for use in the home and other remote locations.
- Embedded AI and ML: In addition, artificial intelligence and machine learning embedded in POCT devices can help improve diagnostic accuracy and provide real-time analysis of results, further enhancing clinical decision-making.
- Market Expansion: Other good prospects for POCT providers are to expand into emerging markets where access to healthcare is still on the mend.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Point of Care Testing 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 Point of Care Testing 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
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- 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
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to country scope.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Leading players are - F. Hoffmann-La Roche Ltd, Abbott, Siemens Healthcare GmbH, Danaher, BD, Johnson & Johnson Private Limited, Chembio Diagnostics, Quidel Corporation, EKF Diagnostics
Integration of AI, expansion of home testing, and telehealth likely to remain key trends in the market
The market is expected to register a CAGR of 10.4% during 2023-2031
Rising incidences of chronic diseases, decentralization of healthcare, and increased demand for rapid diagnostics are key factors impacting on point of care testing market growth
TABLE OF CONTENTS
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 Testing Market - By Product
1.3.2 Point Of Care Testing Market - By Platform
1.3.3 Point Of Care Testing Market - By Application
1.3.4 Point Of Care Testing Market - By End User
1.3.5 Point Of Care Testing Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POINT OF CARE 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 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 TESTING MARKET - GLOBAL MARKET ANALYSIS
6.1. POINT OF CARE TESTING - GLOBAL MARKET OVERVIEW
6.2. POINT OF CARE TESTING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. POINT OF CARE TESTING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. GLUCOSE MONITORING PRODUCTS
7.3.1. Overview
7.3.2. Glucose Monitoring Products Market Forecast and Analysis
7.4. CARDIOMETABOLIC TESTING PRODUCTS
7.4.1. Overview
7.4.2. Cardiometabolic Testing Products Market Forecast and Analysis
7.5. INFECTIOUS DISEASE TESTING PRODUCTS
7.5.1. Overview
7.5.2. Infectious Disease Testing Products Market Forecast and Analysis
7.6. COAGULATION TESTING PRODUCTS
7.6.1. Overview
7.6.2. Coagulation Testing Products Market Forecast and Analysis
7.7. PREGNANCY AND FERTILITY TESTING PRODUCTS
7.7.1. Overview
7.7.2. Pregnancy And Fertility Testing Products Market Forecast and Analysis
7.8. URINALYSIS TESTING PRODUCTS
7.8.1. Overview
7.8.2. Urinalysis Testing Products Market Forecast and Analysis
7.9. HEMATOLOGY TESTING PRODUCTS
7.9.1. Overview
7.9.2. Hematology Testing Products Market Forecast and Analysis
7.10. OTHERS
7.10.1. Overview
7.10.2. Others Market Forecast and Analysis
8. POINT OF CARE TESTING MARKET - REVENUE AND FORECASTS TO 2028 - PLATFORM
8.1. OVERVIEW
8.2. PLATFORM MARKET FORECASTS AND ANALYSIS
8.3. LATERAL FLOW ASSAYS
8.3.1. Overview
8.3.2. Lateral Flow Assays Market Forecast and Analysis
8.4. DIPSTICKS
8.4.1. Overview
8.4.2. Dipsticks Market Forecast and Analysis
8.5. MICROFLUIDICS
8.5.1. Overview
8.5.2. Microfluidics Market Forecast and Analysis
8.6. MOLECULAR DIAGNOSTICS
8.6.1. Overview
8.6.2. Molecular Diagnostics Market Forecast and Analysis
8.7. IMMUNOASSAYS
8.7.1. Overview
8.7.2. Immunoassays Market Forecast and Analysis
9. POINT OF CARE TESTING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. RESEARCH AND DEVELOPMENT
9.3.1. Overview
9.3.2. Research and Development Market Forecast and Analysis
9.4. DIAGNOSIS)
9.4.1. Overview
9.4.2. Diagnosis) Market Forecast and Analysis
10. POINT OF CARE TESTING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITALS AND CLINICS
10.3.1. Overview
10.3.2. Hospitals and Clinics Market Forecast and Analysis
10.4. HOME CARE
10.4.1. Overview
10.4.2. Home Care Market Forecast and Analysis
10.5. DIAGNOSTIC LABORATORIES
10.5.1. Overview
10.5.2. Diagnostic Laboratories Market Forecast and Analysis
10.6. OTHERS
10.6.1. Overview
10.6.2. Others Market Forecast and Analysis
11. POINT OF CARE TESTING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Point Of Care Testing Market Overview
11.1.2 North America Point Of Care Testing Market Forecasts and Analysis
11.1.3 North America Point Of Care Testing Market Forecasts and Analysis - By Product
11.1.4 North America Point Of Care Testing Market Forecasts and Analysis - By Platform
11.1.5 North America Point Of Care Testing Market Forecasts and Analysis - By Application
11.1.6 North America Point Of Care Testing Market Forecasts and Analysis - By End User
11.1.7 North America Point Of Care Testing Market Forecasts and Analysis - By Countries
11.1.7.1 United States Point Of Care Testing Market
11.1.7.1.1 United States Point Of Care Testing Market by Product
11.1.7.1.2 United States Point Of Care Testing Market by Platform
11.1.7.1.3 United States Point Of Care Testing Market by Application
11.1.7.1.4 United States Point Of Care Testing Market by End User
11.1.7.2 Canada Point Of Care Testing Market
11.1.7.2.1 Canada Point Of Care Testing Market by Product
11.1.7.2.2 Canada Point Of Care Testing Market by Platform
11.1.7.2.3 Canada Point Of Care Testing Market by Application
11.1.7.2.4 Canada Point Of Care Testing Market by End User
11.1.7.3 Mexico Point Of Care Testing Market
11.1.7.3.1 Mexico Point Of Care Testing Market by Product
11.1.7.3.2 Mexico Point Of Care Testing Market by Platform
11.1.7.3.3 Mexico Point Of Care Testing Market by Application
11.1.7.3.4 Mexico Point Of Care Testing Market by End User
11.2. EUROPE
11.2.1 Europe Point Of Care Testing Market Overview
11.2.2 Europe Point Of Care Testing Market Forecasts and Analysis
11.2.3 Europe Point Of Care Testing Market Forecasts and Analysis - By Product
11.2.4 Europe Point Of Care Testing Market Forecasts and Analysis - By Platform
11.2.5 Europe Point Of Care Testing Market Forecasts and Analysis - By Application
11.2.6 Europe Point Of Care Testing Market Forecasts and Analysis - By End User
11.2.7 Europe Point Of Care Testing Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Point Of Care Testing Market
11.2.7.1.1 Germany Point Of Care Testing Market by Product
11.2.7.1.2 Germany Point Of Care Testing Market by Platform
11.2.7.1.3 Germany Point Of Care Testing Market by Application
11.2.7.1.4 Germany Point Of Care Testing Market by End User
11.2.7.2 France Point Of Care Testing Market
11.2.7.2.1 France Point Of Care Testing Market by Product
11.2.7.2.2 France Point Of Care Testing Market by Platform
11.2.7.2.3 France Point Of Care Testing Market by Application
11.2.7.2.4 France Point Of Care Testing Market by End User
11.2.7.3 Italy Point Of Care Testing Market
11.2.7.3.1 Italy Point Of Care Testing Market by Product
11.2.7.3.2 Italy Point Of Care Testing Market by Platform
11.2.7.3.3 Italy Point Of Care Testing Market by Application
11.2.7.3.4 Italy Point Of Care Testing Market by End User
11.2.7.4 Spain Point Of Care Testing Market
11.2.7.4.1 Spain Point Of Care Testing Market by Product
11.2.7.4.2 Spain Point Of Care Testing Market by Platform
11.2.7.4.3 Spain Point Of Care Testing Market by Application
11.2.7.4.4 Spain Point Of Care Testing Market by End User
11.2.7.5 United Kingdom Point Of Care Testing Market
11.2.7.5.1 United Kingdom Point Of Care Testing Market by Product
11.2.7.5.2 United Kingdom Point Of Care Testing Market by Platform
11.2.7.5.3 United Kingdom Point Of Care Testing Market by Application
11.2.7.5.4 United Kingdom Point Of Care Testing Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Point Of Care Testing Market Overview
11.3.2 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis
11.3.3 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis - By Platform
11.3.5 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Point Of Care Testing Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Point Of Care Testing Market
11.3.7.1.1 Australia Point Of Care Testing Market by Product
11.3.7.1.2 Australia Point Of Care Testing Market by Platform
11.3.7.1.3 Australia Point Of Care Testing Market by Application
11.3.7.1.4 Australia Point Of Care Testing Market by End User
11.3.7.2 China Point Of Care Testing Market
11.3.7.2.1 China Point Of Care Testing Market by Product
11.3.7.2.2 China Point Of Care Testing Market by Platform
11.3.7.2.3 China Point Of Care Testing Market by Application
11.3.7.2.4 China Point Of Care Testing Market by End User
11.3.7.3 India Point Of Care Testing Market
11.3.7.3.1 India Point Of Care Testing Market by Product
11.3.7.3.2 India Point Of Care Testing Market by Platform
11.3.7.3.3 India Point Of Care Testing Market by Application
11.3.7.3.4 India Point Of Care Testing Market by End User
11.3.7.4 Japan Point Of Care Testing Market
11.3.7.4.1 Japan Point Of Care Testing Market by Product
11.3.7.4.2 Japan Point Of Care Testing Market by Platform
11.3.7.4.3 Japan Point Of Care Testing Market by Application
11.3.7.4.4 Japan Point Of Care Testing Market by End User
11.3.7.5 South Korea Point Of Care Testing Market
11.3.7.5.1 South Korea Point Of Care Testing Market by Product
11.3.7.5.2 South Korea Point Of Care Testing Market by Platform
11.3.7.5.3 South Korea Point Of Care Testing Market by Application
11.3.7.5.4 South Korea Point Of Care Testing Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Point Of Care Testing Market Overview
11.4.2 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis
11.4.3 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis - By Platform
11.4.5 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Point Of Care Testing Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Point Of Care Testing Market
11.4.7.1.1 South Africa Point Of Care Testing Market by Product
11.4.7.1.2 South Africa Point Of Care Testing Market by Platform
11.4.7.1.3 South Africa Point Of Care Testing Market by Application
11.4.7.1.4 South Africa Point Of Care Testing Market by End User
11.4.7.2 Saudi Arabia Point Of Care Testing Market
11.4.7.2.1 Saudi Arabia Point Of Care Testing Market by Product
11.4.7.2.2 Saudi Arabia Point Of Care Testing Market by Platform
11.4.7.2.3 Saudi Arabia Point Of Care Testing Market by Application
11.4.7.2.4 Saudi Arabia Point Of Care Testing Market by End User
11.4.7.3 U.A.E Point Of Care Testing Market
11.4.7.3.1 U.A.E Point Of Care Testing Market by Product
11.4.7.3.2 U.A.E Point Of Care Testing Market by Platform
11.4.7.3.3 U.A.E Point Of Care Testing Market by Application
11.4.7.3.4 U.A.E Point Of Care Testing Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Point Of Care Testing Market Overview
11.5.2 South and Central America Point Of Care Testing Market Forecasts and Analysis
11.5.3 South and Central America Point Of Care Testing Market Forecasts and Analysis - By Product
11.5.4 South and Central America Point Of Care Testing Market Forecasts and Analysis - By Platform
11.5.5 South and Central America Point Of Care Testing Market Forecasts and Analysis - By Application
11.5.6 South and Central America Point Of Care Testing Market Forecasts and Analysis - By End User
11.5.7 South and Central America Point Of Care Testing Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Point Of Care Testing Market
11.5.7.1.1 Brazil Point Of Care Testing Market by Product
11.5.7.1.2 Brazil Point Of Care Testing Market by Platform
11.5.7.1.3 Brazil Point Of Care Testing Market by Application
11.5.7.1.4 Brazil Point Of Care Testing Market by End User
11.5.7.2 Argentina Point Of Care Testing Market
11.5.7.2.1 Argentina Point Of Care Testing Market by Product
11.5.7.2.2 Argentina Point Of Care Testing Market by Platform
11.5.7.2.3 Argentina Point Of Care Testing Market by Application
11.5.7.2.4 Argentina Point Of Care Testing Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL POINT OF CARE TESTING MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
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. POINT OF CARE TESTING MARKET, KEY COMPANY PROFILES
14.1. F. HOFFMANN-LA ROCHE LTD
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. ABBOTT
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. SIEMENS HEALTHCARE GMBH
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. DANAHER
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. BD
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. JOHNSON AND JOHNSON SERVICES, 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. ACCUBIOTECH CO,.LTD
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. INSTRUMENTATION LABORATORY
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. NOVA BIOMEDICAL
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. BIOM
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
The List of Companies
1. F. Hoffmann-La Roche Ltd
2. Abbott
3. Siemens Healthcare GmbH
4. Danaher
5. BD
6. Johnson & Johnson Private Limited
7. Chembio Diagnostics
8. Quidel Corporation
9. EKF Diagnostics
10. Trinity Biotech
11. AccuBioTech
12. Nova Biomedical
13. PTS Diagnostics
14. Instrumentation Laboratory Company
15. Sekisui Diagnostic
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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