Precision Diagnostics Market Growth Analysis | Report 2022-2028
[Research Report] The precision diagnostics market is projected to reach US$ 168,405.71 million by 2028 from US$ 79,776.88 million in 2022; it is expected to grow at a CAGR of 13.3% from 2022 to 2028.
Precision diagnostics are disease diagnosis methods that explain the patient’s condition in a detailed and precise manner. It helps healthcare professionals to carry out treatment procedures in an effective and efficient manner. It is used to cure diabetes, cancer, and other disorders using various tests, including esoteric tests, genetic tests, and others.
The precision diagnostics market is segmented on the basis of type, application, end user, and geography. By geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and the SAM The precision diagnostics market report offers insights and in-depth analysis of the market, emphasizing parameters including market size, trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players across the world. Furthermore, the report includes the impact of the COVID-19 pandemic on the precision diagnostics market across all the regions.
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Precision Diagnostics Market: Strategic Insights
Market Size Value in US$ 79,776.88 Million in 2022 Market Size Value by US$ 168,405.71 Million by 2028 Growth rate CAGR of 13.3% from 2021 to 2028 Forecast Period 2022-2028 Base Year 2022
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Precision Diagnostics Market: Strategic Insights
| Market Size Value in | US$ 79,776.88 Million in 2022 |
| Market Size Value by | US$ 168,405.71 Million by 2028 |
| Growth rate | CAGR of 13.3% from 2021 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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The growth of the precision diagnostics market is attributed to the increasing number of pipeline studies to develop a new cancer treatment and government initiatives to create awareness regarding precision diagnostics among the community health worker. However, the high cost associated with diagnosis and precision medicine restricts the market growth.
Market Insights
Rising Application in Oncology and Other Disorders Drives Precision Diagnostics Market Growth
Rising Application in Oncology and Other Disorders Drives Precision Diagnostics Market Growth
The precision medicine concept is being applied robustly in the care of rare diseases. Although it is more popular in oncology, it is gradually spreading to other specialties. The rising prevalence of cancer and the growing incidence of rare neurological disorders are increasing the demand for precision medicine, which is driving the growth of the global precision diagnostics market. Further, as per the Neurological Alliance, about 14.7 million neurological cases were registered in 2019, with at least 1 in 6 people suffering from one or more neurological conditions. According to the National Cancer Institute, the number of new cancer cases is projected to rise to 29.5 million by 2040, with cancer-related deaths increasing by 16.4 million. As per World Health Organization (WHO), Alzheimer disease, the most common form of dementia, contributes to nearly 60-70% of cases. Furthermore, as of September 2021, more than 55 million people live with dementia worldwide, accounting for nearly 10 million new cases yearly. In addition, the rising demand for treatment procedures in oncology and other disorders is surging the adoption of treatment procedures.
Moreover, the growing number of strategic collaborations between biopharmaceutical companies to develop medicines targeted to treat a specific group of patients based on their specific needs and to provide effective treatment procedures and services is increasing the number of clinical trials. For instance, Personal Genome Diagnostics Inc. and Massachusetts General Hospital collaborated to advance the development of effective treatment services in 2021. In April 2022, the Precision Cancer Consortium (PCC) is formed as a new collaboration of pharmaceutical companies with a shared vision of providing comprehensive testing to all cancer patients worldwide. Thus, rising application in oncology and other disorders drives precision diagnostics market growth.
Type-Based Insights
Based on type, the precision diagnostics market is segmented into genetic tests, esoteric tests, and others. In 2022, the genetic tests segment holds the largest share of the market. Moreover, the same segment is expected to register the highest CAGR of 13.8 % during the forecast period.
Application-Based Insights
Based on application, the precision diagnostics market is segmented into oncology, cardiology, respiratory diseases, immunology, and others. The oncology segment holds the largest market share in 2022. Moreover, the same segment is anticipated to register the highest CAGR of 13.8% during the forecast period.
End User-Based Insights
Based on end user, the precision diagnostics market is segmented into clinical laboratories, hospitals, homecare, and others. The clinical laboratories segment holds the largest market share in 2022. Moreover, the same segment is anticipated to register the highest CAGR of 13.8% during the forecast period.
The precision diagnostics market players focus on adopting organic strategies, including product launch and expansion, to expand their footprint and product portfolio worldwide and meet the growing demands.
Event Management Platform Market Report Scope
By Geography
Based on geography, the precision diagnostics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Company Profiles
- Quest Diagnostics Incorporated
- QIAGEN
- Swiss Precision Diagnostics GmbH
- Koninklijke Philips N.V.
- Lantheus Medical Imaging, Inc.
- Siemens Healthineers AG
- Abbott
- Novartis AG
- Sanofi
- Bayer AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Precision diagnostics are disease diagnosis methods that explain the patient’s condition in a detailed and precise manner. It helps healthcare professionals to carry out treatment procedures in an effective and efficient manner. It is used to cure diabetes, cancer, and other disorders using various diagnostics tests.
The factors that are driving the growth of market are increasing demands of precision medicines and rising application of precision diagnostics. However, high investments involved in the R&D of precision medicine and diagnostic kits is the major factor hindering the precision diagnostics market growth.
The precision diagnostics market majorly consists of the players, such as Quest Diagnostics Incorporated; QIAGEN; Swiss Precision Diagnostics GmbH; Koninklijke Philips N.V.; Lantheus Medical Imaging, Inc.; Siemens Healthineers AG; Abbott; Novartis AG; Sanofi; and Bayer AG.
The market is estimated to grow at a CAGR of 13.3% during the forecast period.
The precision diagnostics market is estimated to be valued at US$ 79,776.88 million in 2022.
The precision diagnostics market is expected to be valued at US$ 168,405.71 million in 2028.
North America accounts for the major market share of precision diagnostics market in 2022 due to increasing prevalence of cancer and chronic cases in the region and increasing initiatives by government and companies operating in the country.
The colorectal cancer market is analyzed in the basis of type, application, and end user. Based on type, the market is segmented into genetic tests, esoteric tests, and others. The genetic tests segment held the largest share of the market. Moreover, the same segment is anticipated to register the highest CAGR in the forecast period.
Asia Pacific is expected to be the fastest growing region in precision diagnostics market over the forecast period due to developing healthcare infrastructure, enormous population base, growing prevalence of chronic diseases, growing government efforts, and technological improvement in the sector.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Precision Diagnostics Market – By Type
1.3.2 Global Precision Diagnostics Market – By Application
1.3.3 Global Precision Diagnostics Market – By End User
1.3.4 Global Precision Diagnostics Market – By Geography
2. Global Precision Diagnostics Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Precision Diagnostics Market – 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 Opinion
5. Global Precision Diagnostics Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Rising Demand for Personalized Medicine
5.1.2 Rising Application in Oncology and Other Disorders
5.2 Market Restraints
5.2.1 High Investments Involved in the R&D of Precision Medicine and Diagnostic Kits
5.3 Market Opportunities
5.3.1 Growing Advancement In Digital Solutions
5.4 Future Trends
5.4.1 Usage of Artificial Intelligence and Machine Learning in Precision Diagnostics
5.5 Impact Analysis
6. Global Precision Diagnostics Market– Global Analysis
6.1 Global Precision Diagnostics Market Revenue Forecast and Analysis
6.1.1 Global Precision Diagnostics Market Revenue Forecast and Analysis
6.1.2 Global Precision Diagnostics Market – Market Potential Analysis, By Region
6.2 Company Analysis
6.2.1 Comparative Company Analysis
6.2.2 Growth Strategy Analysis
6.2.3 Performance of Key Players
6.2.3.1 Quest Diagnostics Incorporated
6.2.3.2 Qiagen
7. Global Precision Diagnostics Market Revenue and Forecast to 2028 – by Type
7.1 Overview
7.2 Genetic Tests
7.2.1 Overview
7.2.2 Genetic Tests: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.3 Esoteric Tests
7.3.1 Overview
7.3.2 Esoteric Tests: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8. Global Precision Diagnostics Market Revenue and Forecast to 2028 – by Application
8.1 Overview
8.2 Oncology
8.2.1 Overview
8.2.2 Oncology: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.3 Cardiology
8.3.1 Overview
8.3.2 Cardiology: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.4 Respiratory Diseases
8.4.1 Overview
8.4.2 Respiratory Diseases: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.5 Immunology
8.5.1 Overview
8.5.2 Immunology: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9. Global Precision Diagnostics Market Revenue and Forecast to 2028 – by End User
9.1 Overview
9.2 Clinical Laboratories
9.2.1 Overview
9.2.2 Clinical Laboratories: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.4 Homecare
9.4.1 Overview
9.4.2 Homecare: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
10. Global Precision Diagnostics Market Revenue and Forecast to 2028– by Geography
10.1 North America: Precision Diagnostics Market– Revenue and Forecast to 2028
10.1.1 Overview
10.1.2 North America Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
10.1.3 North America Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.1.4 North America Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.1.5 North America Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.1.6 North America Precision Diagnostics Market, by Country, 2022 & 2028 (%)
10.1.6.1 US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.1 US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.1.2 US Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.1.6.1.3 US Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.1.6.1.4 US Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.1.6.2 Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.1 Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.2.2 Canada Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.1.6.2.3 Canada Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.1.6.2.4 Canada Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.1.6.3 Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.1 Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.1.6.3.2 Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.1.6.3.3 Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.1.6.3.4 Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.2 Europe: Precision Diagnostics Market– Revenue and Forecast to 2028
10.2.1 Overview
10.2.2 Europe: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
10.2.3 Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.4 Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.5 Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6 Europe: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
10.2.6.1 Germany: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.1 Germany: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.1.2 Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.1.3 Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.1.4 Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6.2 France: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.1 France: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.2.2 France: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.2.3 France: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.2.4 France: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6.3 UK: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.1 UK: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.3.2 UK: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.3.3 UK: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.3.4 UK: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6.4 Italy: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.1 Italy: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.4.2 Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.4.3 Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.4.4 Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6.5 Spain: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.1 Spain: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.5.2 Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.5.3 Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.5.4 Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.2.6.6 Rest of Europe: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.1 Rest of Europe: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.2.6.6.2 Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.2.6.6.3 Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.2.6.6.4 Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
10.3 Asia Pacific: Precision Diagnostics Market– Revenue and Forecast to 2028
10.3.1 Overview
10.3.2 Asia Pacific: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
10.3.3 Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.3.4 Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.3.5 Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.3.6 Asia Pacific: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
10.3.6.1 China: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.1.1 China: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
10.3.6.1.2 China: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
10.3.6.1.3 China: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
10.3.6.1.4 China: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
10.3.6.2 Japan: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)0
10.3.6.2.1 Japan: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)0
10.3.6.2.2 Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)1
10.3.6.2.3 Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)1
10.3.6.2.4 Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)1
10.3.6.3 India: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)2
10.3.6.3.1 India: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)2
10.3.6.3.2 India: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)3
10.3.6.3.3 India: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)3
10.3.6.3.4 India: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)3
10.3.6.4 Australia: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)3
10.3.6.4.1 Australia: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)4
10.3.6.4.2 Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)5
10.3.6.4.3 Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)5
10.3.6.4.4 Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)5
10.3.6.5 South Korea: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)5
10.3.6.5.1 South Korea: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)6
10.3.6.5.2 South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)7
10.3.6.5.3 South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)7
10.3.6.5.4 South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)7
10.3.6.6 Rest of Asia Pacific: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)8
10.3.6.6.1 Rest of Asia Pacific: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)8
10.3.6.6.2 Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)8
10.3.6.6.3 Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)0
10.3.6.6.4 Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)0
10.4 Middle East & Africa: Precision Diagnostics Market– Revenue and Forecast to 20281
10.4.1 Overview1
10.4.2 Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)2
10.4.3 Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)2
10.4.4 Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)3
10.4.5 Middle East & Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)3
10.4.6 Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, By Country (%)4
10.4.6.1 Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)4
10.4.6.1.1 Overview4
10.4.6.1.2 Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)4
10.4.6.1.3 Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)6
10.4.6.1.4 Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)6
10.4.6.1.5 Saudi Arabia: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)6
10.4.6.2 South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)7
10.4.6.2.1 Overview7
10.4.6.2.2 South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)7
10.4.6.2.3 South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)8
10.4.6.2.4 South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)9
10.4.6.2.5 South Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)9
10.4.6.3 UAE: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)0
10.4.6.3.1 Overview0
10.4.6.3.2 UAE: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)0
10.4.6.3.3 UAE: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)1
10.4.6.3.4 UAE: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)2
10.4.6.3.5 UAE: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)2
10.4.6.4 Rest of Middle East and Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)3
10.4.6.4.1 Overview3
10.4.6.4.2 Rest of Middle East and Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)3
10.4.6.4.3 Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)4
10.4.6.4.4 Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)5
10.4.6.4.5 Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)5
10.5 South and Central America: Precision Diagnostics Market – Revenue and Forecast to 20286
10.5.1 Overview6
10.5.2 South and Central America Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)6
10.5.3 SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)7
10.5.4 SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)7
10.5.5 SAM Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)8
10.5.5.1 Brazil: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)9
10.5.5.1.1 Brazil Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)9
10.5.5.1.2 Brazil Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)0
10.5.5.1.3 Brazil Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)0
10.5.5.1.4 Brazil Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)0
10.5.5.2 Argentina: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)1
10.5.5.2.1 Argentina Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)1
10.5.5.2.2 Argentina Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)2
10.5.5.2.3 Argentina Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)2
10.5.5.2.4 Argentina Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)2
10.5.5.3 Rest of South & Central America: Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)3
10.5.5.3.1 Rest of South & Central America Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)3
10.5.5.3.2 Rest of SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)4
10.5.5.3.3 Rest of SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)4
10.5.5.3.4 Rest of SAM Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)4
11. Impact of COVID-19 Pandemic on Geographic Regions5
11.1 North America: Impact Assessment of COVID-19 Pandemic5
11.2 Europe: Impact Assessment of COVID-19 Pandemic6
11.3 Asia Pacific: Impact Assessment Of COVID-19 Pandemic8
11.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic9
11.5 South And Central America: Impact Assessment Of COVID-19 Pandemic0
12. Global Precision Diagnostics Market –Industry Landscape2
12.1 Overview2
12.2 Growth Strategies In Precision Diagnostics Market, 2018-20222
12.3 Organic Developments3
12.3.1 Overview3
12.3.2 Organic Growth Strategies In The Precision Diagnostics Market, 2018-20223
12.4 Inorganic Developments4
12.4.1 Overview4
12.4.2 Inorganic Growth Strategies In The Precision Diagnostics Market, 2018-20224
13. Company Profiles6
13.1 Quest Diagnostics Incorporated6
13.1.1 Key Facts6
13.1.2 Business Description6
13.1.3 Products and Services6
13.1.4 Financial Overview7
13.1.5 SWOT Analysis8
13.1.6 Key Developments8
13.2 QIAGEN0
13.2.1 Key Facts0
13.2.2 Business Description0
13.2.3 Products and Services0
13.2.4 Financial Overview1
13.2.5 SWOT Analysis2
13.2.6 Key Developments2
13.3 Swiss Precision Diagnostics GmbH3
13.3.1 Key Facts3
13.3.2 Business Description3
13.3.3 Products and Services3
13.3.4 Financial Overview3
13.3.5 SWOT Analysis4
13.3.6 Key Developments4
13.4 Koninklijke Philips N.V.5
13.4.1 Key Facts5
13.4.2 Business Description5
13.4.3 Products and Services5
13.4.4 Financial Overview6
13.4.5 SWOT Analysis7
13.4.6 Key Developments8
13.5 Lantheus Medical Imaging, Inc.9
13.5.1 Key Facts9
13.5.2 Business Description9
13.5.3 Products and Services0
13.5.4 Financial Overview0
13.5.5 SWOT Analysis1
13.5.6 Key Developments2
13.6 Siemens Healthineers AG3
13.6.1 Key Facts3
13.6.2 Business Description3
13.6.3 Products and Services3
13.6.4 Financial Overview4
13.6.5 SWOT Analysis5
13.6.6 Key Developments6
13.7 Abbott7
13.7.1 Key Facts7
13.7.2 Business Description7
13.7.3 Products and Services7
13.7.4 Financial Overview8
13.7.5 SWOT Analysis9
13.7.6 Key Developments0
13.8 Novartis AG1
13.8.1 Key Facts1
13.8.2 Business Description1
13.8.3 Products and Services1
13.8.4 Financial Overview2
13.8.5 SWOT Analysis3
13.8.6 Key Developments4
13.9 Sanofi5
13.9.1 Key Facts5
13.9.2 Business Description5
13.9.3 Products and Services5
13.9.4 Financial Overview6
13.9.5 SWOT Analysis7
13.9.6 Key Developments8
13.10 Bayer AG9
13.10.1 Key Facts9
13.10.2 Business Description9
13.10.3 Products and Services9
13.10.4 Financial Overview0
13.10.5 SWOT Analysis1
13.10.6 Key Developments2
14. Appendix3
14.1 About The Insight Partners3
14.2 Glossary of Terms3
LIST OF TABLES
Table 1. North America Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 2. North America Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 3. North America Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 4. US Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 5. US Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 6. US Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 7. Canada Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 8. Canada Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 9. Canada Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 10. Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 11. Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 12. Mexico Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 13. Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 14. Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 15. Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 16. Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 17. Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 18. Germany: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 19. France: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 20. France: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 21. France: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 22. UK: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 23. UK: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 24. UK: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 25. Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 26. Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 27. Italy: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 28. Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 29. Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 30. Spain: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 31. Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 32. Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 33. Rest of Europe: Precision Diagnostics Market Revenue and Forecast To 2028, By End Users (US$ Million)
Table 34. Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 35. Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 36. Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 37. China: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 38. China: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 39. China: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 40. Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 41. Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 42. Japan: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 43. India: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 44. India: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 45. India: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 46. Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 47. Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 48. Australia: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 49. South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 50. South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 51. South Korea: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 52. Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Million)
Table 53. Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By Application (US$ Million)
Table 54. Rest of Asia Pacific: Precision Diagnostics Market Revenue and Forecast To 2028, By End User (US$ Million)
Table 55. Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million).
Table 56. Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)
Table 57. Middle East & Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
Table 58. Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)
Table 59. Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)
Table 60. Saudi Arabia: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
Table 61. South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)0
Table 62. South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)1
Table 63. South Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)1
Table 64. UAE: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)2
Table 65. UAE: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)3
Table 66. UAE: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)3
Table 67. Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Type (US$ Million)4
Table 68. Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028, by Application (US$ Million)5
Table 69. Rest of Middle East & Africa: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)5
Table 70. SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Mn)7
Table 71. SAM Precision Diagnostics Market Revenue and Forecasts to 2028, By Application (US$ Mn)7
Table 72. SAM Precision Diagnostics Market Revenue and Forecasts to 2028, By End User (US$ Mn)8
Table 73. Brazil Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Mn)0
Table 74. Brazil Precision Diagnostics Market Revenue and Forecasts to 2028, By Application (US$ Mn)0
Table 75. Brazil Precision Diagnostics Market Revenue and Forecasts to 2028, By End User (US$ Mn)0
Table 76. Argentina Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Mn)2
Table 77. Argentina Precision Diagnostics Market Revenue and Forecasts to 2028, By Application (US$ Mn)2
Table 78. Argentina Precision Diagnostics Market Revenue and Forecasts to 2028, By End User (US$ Mn)2
Table 79. Rest of SAM Precision Diagnostics Market Revenue and Forecast To 2028, By Type (US$ Mn)4
Table 80. Rest of SAM Precision Diagnostics Market Revenue and Forecasts to 2028, By Application (US$ Mn)4
Table 81. Rest of SAM Precision Diagnostics Market Revenue and Forecasts to 2028, By End User (US$ Mn)4
Table 82. Recent Organic Growth Strategies In The Precision Diagnostics Market3
Table 83. Recent Inorganic Growth Strategies In The Precision Diagnostics Market4
Table 84. Glossary of Terms, Global Precision Diagnostics Market3
LIST OF FIGURES
Figure 1. Precision Diagnostics Market Segmentation
Figure 2. Precision Diagnostics Market Segmentation, By Region
Figure 3. Global Precision Diagnostics Market Overview
Figure 4. Genetic Tests Held Largest Share Of Type Segment In Precision Diagnostics Market
Figure 5. Asia Pacific Region Is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Global Precision Diagnostics Market, By Geography (US$ Mn)
Figure 7. Global Precision Diagnostics Market- Leading Country Markets (US$ Mn)
Figure 8. Global Precision Diagnostics Market, Industry Landscape
Figure 9. North America: PEST Analysis
Figure 10. Europe: PEST Analysis
Figure 11. Asia Pacific: PEST Analysis
Figure 12. Middle East And Africa: PEST Analysis
Figure 13. South And Central America: PEST Analysis
Figure 14. Experts’ Opinion
Figure 15. Precision Diagnostics Market Impact Analysis Of Driver And Restraints
Figure 16. Global Precision Diagnostics Market – Revenue Forecast and Analysis – 2020- 2028
Figure 17. Global Precision Diagnostics Market – Revenue Forecast and Analysis – 2021 - 2028
Figure 18. Global Precision Diagnostics Market – Market Potential Analysis, By Region
Figure 19. Market Positioning of Key Players in Precision Diagnostics Market
Figure 20. Global Precision Diagnostics Market – Comparative Company Analysis
Figure 21. Global Precision Diagnostics Market – Growth Strategy Analysis
Figure 22. Global Precision Diagnostics Market Share by Type - 2022 & 2028 (%)
Figure 23. Global Precision Diagnostics Market Share by Application- 2022 & 2028 (%)
Figure 24. Global Precision Diagnostics Market Share by End User - 2022 & 2028 (%)
Figure 25. North America: Precision Diagnostics Market, by Key Country – Revenue (2022) (US$ Million)
Figure 26. North America Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. North America: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
Figure 28. US: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Canada: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Europe: Precision Diagnostics Market Revenue Overview, by Key Country – Revenue (2022) (US$ Million)
Figure 32. Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. Europe: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
Figure 34. Germany: Precision Diagnostics Products Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. France: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. UK: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. Italy: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Spain: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Rest of Europe: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Asia Pacific Precision Diagnostics Market, by Key Country – Revenue (2022) (US$ Million)
Figure 41. Asia Pacific Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
Figure 42. Asia Pacific: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
Figure 43. China: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Japan: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. India: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Australia: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. South Korea: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. Rest of Asia Pacific: Precision Diagnostics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. Middle East & Africa: Precision Diagnostics Market Revenue Overview, by Country, 2022 (US$ Million)
Figure 50. Middle East & Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 51. Middle East & Africa Precision Diagnostics Market Revenue and Forecasts to 2028, By Country (%)
Figure 52. Saudi Arabia: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)
Figure 53. South Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)0
Figure 54. UAE: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)2
Figure 55. Rest of Middle East and Africa: Precision Diagnostics Market Revenue and Forecasts to 2028 (US$ Million)4
Figure 56. South and Central America Precision Diagnostics Market Revenue Overview, By Country (2022) (US$ Mn)6
Figure 57. South and Central America Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)7
Figure 58. Brazil Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)9
Figure 59. Argentina Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)1
Figure 60. Rest of South & Central America Precision Diagnostics Market Revenue And Forecasts To 2028 (US$ MN)3
Figure 61. Impact of COVID-19 Pandemic in North America Country Markets5
Figure 62. Impact of COVID-19 Pandemic on European Country Markets7
Figure 63. Impact of COVID-19 Pandemic on Asia Pacific Country Markets8
Figure 64. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets9
Figure 65. Impact of COVID-19 Pandemic on South and Central America Country Markets1
Figure 66. Growth Strategies In Precision Diagnostics Market, 2018-20222
The List of Companies - Precision Diagnostics Market
- Quest Diagnostics Incorporated
- QIAGEN
- Swiss Precision Diagnostics GmbH
- Koninklijke Philips N.V.
- Lantheus Medical Imaging, Inc.
- Siemens Healthineers AG
- Abbott
- Novartis AG
- Sanofi
- Bayer AG
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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