Positron Emission Tomography (PET) Scanners Market 2031: Share
The Positron Emission Tomography (PET) Scanners Market is expected to register a CAGR of 5.4% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Stationary Scanners and Portable Scanners/Mobile Scanners), Service Provider (Hospitals, Diagnostic Centers, and Research Institutes), Slice Count (Low Slice Scanner, Medium Slice Scanner, and High Slice Scanner), Isotopes [Flurodeoxyglucose (FDG), 62Cu ATSM, 18 F Sodium Fluoride, FMISO, Gallium, Thallium, and Others], Application (Oncology, Neurology, Cardiology, and Others)
Purpose of the ReportThe report Positron Emission Tomography (PET) Scanners 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.
Positron Emission Tomography (PET) Scanners Market Segmentation
Type- Stationary Scanners and Portable Scanners/Mobile Scanners
- Hospitals
- Diagnostic Centers
- Research Institutes
- Low Slice Scanner
- Medium Slice Scanner
- High Slice Scanner
- Flurodeoxyglucose
- 62Cu ATSM
- 18 F Sodium Fluoride
- FMISO
- Gallium
- Thallium
- Others
Strategic Insights
Positron Emission Tomography (PET) Scanners Market Growth Drivers- Increasing Cancer Incidence: The growing number of cancer cases across the globe constitutes a key factor responsible for the growth of the positron emission tomography (PET) scanners market. In present-day healthcare systems, the emphasis on early detection and correct staging of tumors is prompting the application of modern imaging systems like PET therefore increasing the need for effective diagnosis. This need for encouraging diagnostics tools is a driving factor in enhancing the market, hence motivating scanner technology and uses advancements.
- Advancements in Imaging Technology: The evolving technology associated with PET scanning, for instance, enhancement of images, shorter scan duration and combination of systems for example PET/CT among others, will facilitate the market growth. These improvements expand diagnostic capabilities and improve patient prognoses, which is why there is an increased demand for PET scans by the health care facilities. Seeing as research is aimed at improvement of the imaging technique the market is able to keep growing and more people are embracing its use.
- Growing Demand for Personalized Medicine: The growing adoption of personalized medicine is affecting positively the market for PET scanners. With the development of health care that focuses on providing treatments according to each individual’s patient caracteristics, the use of PET images become very important in assessing activity in tissue and response to therapy. This situation creates a need for more developed imaging equipment and places PET scanners in the center of the treatment scheme for the patients with complex pathological cases.
- Integration with Artificial Intelligence: A prominent growth direction within the PET scanners market is the application of artificial intelligence and machine learning technologies. These improvements effectiveness in scan interpretation facilitates better and quicker scan reading, especially with imaging features. AI algorithms help detect the presence of lesions thereby improving the diagnosis accuracy which in turn creates the need of better than before PET systems which can utilize such smart technologies.
- Focus on Hybrid Imaging Systems: The PET scans market admires the increase in the number of hybrid imaging systems such as PET/CT and PET/MRI. These devices allow for simultaneous functional imaging with PET and anatomical imaging with computed tomography (CT) or magnetic resonance imaging (MRI), thus enabling easy diagnosis and treatment planning. This has encouraged many of the manufacturers to keep innovating and growing their hybrid imagings systems.
- Rising Use in Neurology: Growing concern towards the use of PET scanners in neurology is one of the noteworthy trends in the PET scanners market. Due to its three-dimensional, real-time nature, PET imaging has been successfully used diagnosed and tracked age-related dementia and for seizures patterns in diseases such as epilepsy. This emerging use is driving the growth in demand for dedicated PET systems and stimulating research development focused on addressing the requirement of the market specific to neurological imaging.
- Expansion in Emerging Markets: The posiiton emission tomography (PET) scanners market is expected to do well in the emerging markets due to increased improvements in health care systems as well as advances in diagnostic tools. Due to the ongoing investments into enhancing the various healthcare facilities within or external of countries, it is expected that there will be more and more demand for PET scanners. The same comprises a reason as to why many of the companies focus on coming up with strategies.
- Development of Novel Radiotracers: The introduction of new radiotracers for PET imaging is yet another opportunity available for the manufacturers. This new tracers may extend the analutical value of imaging for selected group of pathologies irrespective of the primary picture: oncology, cardiology, and neurology. If affordable treatments for cancer patients in the country is a business - companies should invest into research and development in commercializing new effective radiotracers for PET scanning.
- Increasing Adoption in Research: The increase in the use of PET scanners particularly in the course of research and more so during drug development and clinical trials gives an impetus to the growth of the market. Researchers are utilizing PET imaging for drug efficacy assessment as well as disease progression monitoring, where both are done in real time. PET system suppliers can use this opportunity to enter into the research market by developing specific PET systems to fit this end.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Positron Emission Tomography (PET) Scanners 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 Positron Emission Tomography (PET) Scanners 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.
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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
- 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
The positron emission tomography scanners market is estimated to grow with a CAGR of 5.4% from 2023 to 2031.
Asia Pacific region is likely to witness fastest growth rate during the forecast period.
The market drivers include increasing cancer incidence and advancements in imaging technology are driving the positron emission tomography scanners market
The positron emission tomography scanners market majorly consists of the players such as Toshiba Corporation, General Electric Co., and Hitachi, Ltd. among others.
Integration with artificial intelligence are likely to remain the key trend during the forecast period
North America dominated the positron emission tomography scanners 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 Positron Emission Tomography (PET) Scanners Market - By Product Type
1.3.2 Positron Emission Tomography (PET) Scanners Market - By Application
1.3.3 Positron Emission Tomography (PET) Scanners Market - By End User
1.3.4 Positron Emission Tomography (PET) Scanners Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET L and SCAPE
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. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS 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. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET - GLOBAL MARKET ANALYSIS
6.1. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS - GLOBAL MARKET OVERVIEW
6.2. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS - GLOBAL MARKET and FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET - REVENUE and FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS and ANALYSIS
7.3. FULL-RING PET SCANNER
7.3.1. Overview
7.3.2. Full-ring PET scanner Market Forecast and Analysis
7.4. PARTIAL-RING PET SCANNER
7.4.1. Overview
7.4.2. Partial-ring PET scanner Market Forecast and Analysis
8. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET - REVENUE and FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS and ANALYSIS
8.3. ONCOLOGY
8.3.1. Overview
8.3.2. Oncology Market Forecast and Analysis
8.4. CARDIOLOGY
8.4.1. Overview
8.4.2. Cardiology Market Forecast and Analysis
8.5. NEUROLOGY
8.5.1. Overview
8.5.2. Neurology Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS 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. DIAGNOSTIC CENTERS
9.4.1. Overview
9.4.2. Diagnostic Centers Market Forecast and Analysis
9.5. RESEARCH INSTITUTES
9.5.1. Overview
9.5.2. Research Institutes Market Forecast and Analysis
10. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET REVENUE and FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Positron Emission Tomography (PET) Scanners Market Overview
10.1.2 North America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis
10.1.3 North America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Product Type
10.1.4 North America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Application
10.1.5 North America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By End User
10.1.6 North America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Countries
10.1.6.1 United States Positron Emission Tomography (PET) Scanners Market
10.1.6.1.1 United States Positron Emission Tomography (PET) Scanners Market by Product Type
10.1.6.1.2 United States Positron Emission Tomography (PET) Scanners Market by Application
10.1.6.1.3 United States Positron Emission Tomography (PET) Scanners Market by End User
10.1.6.2 Canada Positron Emission Tomography (PET) Scanners Market
10.1.6.2.1 Canada Positron Emission Tomography (PET) Scanners Market by Product Type
10.1.6.2.2 Canada Positron Emission Tomography (PET) Scanners Market by Application
10.1.6.2.3 Canada Positron Emission Tomography (PET) Scanners Market by End User
10.1.6.3 Mexico Positron Emission Tomography (PET) Scanners Market
10.1.6.3.1 Mexico Positron Emission Tomography (PET) Scanners Market by Product Type
10.1.6.3.2 Mexico Positron Emission Tomography (PET) Scanners Market by Application
10.1.6.3.3 Mexico Positron Emission Tomography (PET) Scanners Market by End User
10.2. EUROPE
10.2.1 Europe Positron Emission Tomography (PET) Scanners Market Overview
10.2.2 Europe Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis
10.2.3 Europe Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Product Type
10.2.4 Europe Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Application
10.2.5 Europe Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By End User
10.2.6 Europe Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Positron Emission Tomography (PET) Scanners Market
10.2.6.1.1 Germany Positron Emission Tomography (PET) Scanners Market by Product Type
10.2.6.1.2 Germany Positron Emission Tomography (PET) Scanners Market by Application
10.2.6.1.3 Germany Positron Emission Tomography (PET) Scanners Market by End User
10.2.6.2 France Positron Emission Tomography (PET) Scanners Market
10.2.6.2.1 France Positron Emission Tomography (PET) Scanners Market by Product Type
10.2.6.2.2 France Positron Emission Tomography (PET) Scanners Market by Application
10.2.6.2.3 France Positron Emission Tomography (PET) Scanners Market by End User
10.2.6.3 Italy Positron Emission Tomography (PET) Scanners Market
10.2.6.3.1 Italy Positron Emission Tomography (PET) Scanners Market by Product Type
10.2.6.3.2 Italy Positron Emission Tomography (PET) Scanners Market by Application
10.2.6.3.3 Italy Positron Emission Tomography (PET) Scanners Market by End User
10.2.6.4 Spain Positron Emission Tomography (PET) Scanners Market
10.2.6.4.1 Spain Positron Emission Tomography (PET) Scanners Market by Product Type
10.2.6.4.2 Spain Positron Emission Tomography (PET) Scanners Market by Application
10.2.6.4.3 Spain Positron Emission Tomography (PET) Scanners Market by End User
10.2.6.5 United Kingdom Positron Emission Tomography (PET) Scanners Market
10.2.6.5.1 United Kingdom Positron Emission Tomography (PET) Scanners Market by Product Type
10.2.6.5.2 United Kingdom Positron Emission Tomography (PET) Scanners Market by Application
10.2.6.5.3 United Kingdom Positron Emission Tomography (PET) Scanners Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Overview
10.3.2 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis
10.3.3 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Positron Emission Tomography (PET) Scanners Market
10.3.6.1.1 Australia Positron Emission Tomography (PET) Scanners Market by Product Type
10.3.6.1.2 Australia Positron Emission Tomography (PET) Scanners Market by Application
10.3.6.1.3 Australia Positron Emission Tomography (PET) Scanners Market by End User
10.3.6.2 China Positron Emission Tomography (PET) Scanners Market
10.3.6.2.1 China Positron Emission Tomography (PET) Scanners Market by Product Type
10.3.6.2.2 China Positron Emission Tomography (PET) Scanners Market by Application
10.3.6.2.3 China Positron Emission Tomography (PET) Scanners Market by End User
10.3.6.3 India Positron Emission Tomography (PET) Scanners Market
10.3.6.3.1 India Positron Emission Tomography (PET) Scanners Market by Product Type
10.3.6.3.2 India Positron Emission Tomography (PET) Scanners Market by Application
10.3.6.3.3 India Positron Emission Tomography (PET) Scanners Market by End User
10.3.6.4 Japan Positron Emission Tomography (PET) Scanners Market
10.3.6.4.1 Japan Positron Emission Tomography (PET) Scanners Market by Product Type
10.3.6.4.2 Japan Positron Emission Tomography (PET) Scanners Market by Application
10.3.6.4.3 Japan Positron Emission Tomography (PET) Scanners Market by End User
10.3.6.5 South Korea Positron Emission Tomography (PET) Scanners Market
10.3.6.5.1 South Korea Positron Emission Tomography (PET) Scanners Market by Product Type
10.3.6.5.2 South Korea Positron Emission Tomography (PET) Scanners Market by Application
10.3.6.5.3 South Korea Positron Emission Tomography (PET) Scanners Market by End User
10.4. MIDDLE EAST and AFRICA
10.4.1 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Overview
10.4.2 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis
10.4.3 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Positron Emission Tomography (PET) Scanners Market
10.4.6.1.1 South Africa Positron Emission Tomography (PET) Scanners Market by Product Type
10.4.6.1.2 South Africa Positron Emission Tomography (PET) Scanners Market by Application
10.4.6.1.3 South Africa Positron Emission Tomography (PET) Scanners Market by End User
10.4.6.2 Saudi Arabia Positron Emission Tomography (PET) Scanners Market
10.4.6.2.1 Saudi Arabia Positron Emission Tomography (PET) Scanners Market by Product Type
10.4.6.2.2 Saudi Arabia Positron Emission Tomography (PET) Scanners Market by Application
10.4.6.2.3 Saudi Arabia Positron Emission Tomography (PET) Scanners Market by End User
10.4.6.3 U.A.E Positron Emission Tomography (PET) Scanners Market
10.4.6.3.1 U.A.E Positron Emission Tomography (PET) Scanners Market by Product Type
10.4.6.3.2 U.A.E Positron Emission Tomography (PET) Scanners Market by Application
10.4.6.3.3 U.A.E Positron Emission Tomography (PET) Scanners Market by End User
10.5. SOUTH and CENTRAL AMERICA
10.5.1 South and Central America Positron Emission Tomography (PET) Scanners Market Overview
10.5.2 South and Central America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis
10.5.3 South and Central America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Application
10.5.5 South and Central America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By End User
10.5.6 South and Central America Positron Emission Tomography (PET) Scanners Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Positron Emission Tomography (PET) Scanners Market
10.5.6.1.1 Brazil Positron Emission Tomography (PET) Scanners Market by Product Type
10.5.6.1.2 Brazil Positron Emission Tomography (PET) Scanners Market by Application
10.5.6.1.3 Brazil Positron Emission Tomography (PET) Scanners Market by End User
10.5.6.2 Argentina Positron Emission Tomography (PET) Scanners Market
10.5.6.2.1 Argentina Positron Emission Tomography (PET) Scanners Market by Product Type
10.5.6.2.2 Argentina Positron Emission Tomography (PET) Scanners Market by Application
10.5.6.2.3 Argentina Positron Emission Tomography (PET) Scanners Market by End User
11. INDUSTRY L and SCAPE
11.1. MERGERS and ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS and JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS and OTHER STRATEGIC DEVELOPMENTS
12. POSITRON EMISSION TOMOGRAPHY (PET) SCANNERS MARKET, KEY COMPANY PROFILES
12.1. TOSHIBA CORPORATION
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. SIEMENS HEALTHCARE PRIVATE LIMITED
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. KONINKLIJKE PHILIPS N.V
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. HITACHI, LTD
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. FUJIFILM HOLDINGS CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. S and ERS MEDICAL PRODUCTS, INC
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. CUBRESA INC
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. CIGNA
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
12.9. ALCEN
12.9.1. Key Facts
12.9.2. Business Description
12.9.3. Products and Services
12.9.4. Financial Overview
12.9.5. SWOT Analysis
12.9.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
- TOSHIBA CORPORATION
- Siemens Healthcare Private Limited
- Koninklijke Philips N. V
- Hitachi, Ltd
- Fujifilm Holdings Corporation
- S and ers Medical Products, Inc
- Cubresa Inc.
- Cigna
- ALCEN
- Concordmedical
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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