Rapid Test Market Research Report 2021-2031
The Rapid Test Market is expected to register a CAGR of 8.1% 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 Product Type (Over-the-counter (OTC) Rapid Test Products, Professional Rapid Test Products); Application (Infectious Diseases, Cardiology, Oncology, Pregnancy and Fertility, Toxicology, Glucose Monitoring, Others); End User (Hospitals and Clinics, Diagnostic Laboratories, Home Care, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Rapid Test 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.
Rapid Test Market Segmentation
Product Type- Over-the-counter Rapid Test Products
- Professional Rapid Test Products
- Infectious Diseases
- Cardiology
- Oncology
- Pregnancy and Fertility
- Toxicology
- Glucose Monitoring
- Others
- Hospitals and Clinics
- Diagnostic Laboratories
- Home Care
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Rapid Test Market Growth Drivers- Growth in Preference for Point-of-Care Testing: The adoption of point-of-care testing is one of the primary reasons for the upsurge in the sales of rapid tests. Both the patients and the health care providers want the final results as fast as possible so that crucial decision-making is not delayed. Rapid tests offer point-of-care diagnosis, thus eliminating centralized laboratories and enhancing patient care. This is particularly noticeable when dealing with infectious diseases and managing chronic diseases.
- New technologies being invented and released: The rapid test market has been constantly on the rise due to rapid technological developments. Modifications in molecular diagnosis systems, immunoassay techniques, and microscopic chips have made small hand-held testing kits a reality. If this last point is reached, it will become possible to carry out the test procedures at places where the current system would have been impractical owing to effective data processing and reporting of results internally within the respective organization. Thus, the scope of the market can be better polished.
- Rising Focus on Preventive Healthcare: The change in trends towards more preventive healthcare is boosting the rapid test market. As the world's healthcare systems are beginning to address the early diagnosis and prevention of diseases more, rapid tests have become relevant in the screening and observation of specific health issues. This new approach, which involves taking health care to people's homes rather than waiting for them to visit health facilities, has spurred the use of rapid testing technologies among different communities.
- Home care testing kits: An emerging trend in the rapid test market includes the growing number of home testing kits. This is because, nowadays, more and more consumers are willing to do the tests themselves at home rather than go to a medical facility. This is primarily driven by the advancement in technology as well as the desire to get quick results. This trend has, however, been on an upward journey since the outbreak of the COVID-19 virus, with manufacturers working tirelessly to come up with designs that one can conveniently use from home.
- Diversification of Digital Health Applications: The market environment is evolving due to the introduction of digital health technologies in the rapid tests. Most rapid tests are currently designed to include mobile applications or web-based technologies, which are utilized for performance tracking and health monitoring. This trend promotes patient engagement and data management, and communication between patients and healthcare providers becomes more effective, enhancing the delivery and decisions made in primary healthcare.
- Increase in Adoption of Fiberscope Testing: Fiberscope testing, which refers to the assessment of diverse pathogens or conditions within a single examination, is on an upward trajectory in the rapid test market. This serves the purpose of addressing the demand in the market for all-round diagnostics that is on the rise at the moment, more so for diseases that involve infections. It is able to enhance clinical speeds and appropriately treat patients by allowing a healthcare practitioner to carry out a variety of tests from one sample on a patient.
- Emerging Markets Growth: Emerging markets shall bring many new opportunities for fast growth in the test market because of greater access to health. A rising level of healthcare infrastructure investments and higher awareness about disease prevention will require accessible, affordable solutions to testing across vast geographies. Companies seeking to build tailor-made offerings to the needs and preferences of these markets will find the new space for growth.
- Collaboration with Telehealth Services: The rise of telehealth service provision presents the opportunity to expand upon the market for rapid tests. As their respective volumes of virtual consultations increase, the integration with rapid testing has the scope to enable remote diagnostics followed by appropriate follow-up care. In that way, it increases access to testing for patients while still promoting efficiency in telehealth service platforms, opening new opportunities for synergies and market expansion.
- Next-Generation Testing Technologies Development: The rapid test markets are expected to benefit from the continuous development of next-generation testing technologies like CRISPR-based diagnostics and biosensors. These new developments will mean higher sensitivity, specificity, and speed and, therefore, capitalize on the growing demand for dependable diagnostic solutions. In such a competitive environment, companies that invest in developing this technology can differentiate themselves in market shares.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Rapid Test 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 Rapid Test 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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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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 Rapid Test Market is estimated to witness a CAGR of 8.1% from 2023 to 2031
The major factors driving the Rapid Test Market are:
1. Growth in Preference for Point-of-Care Testing
2. New technologies being invented and released
3. Rising Focus on Preventive Healthcare
North America region dominated the Rapid Test Market in 2023
Asia Pacific region dominated the Rapid Test Market in 2023
The professional rapid test products segment accounts for highest revenue in product type the Rapid Test Market in 2023
Alere, Inc. (Abbott), BD, Bio-Rad Laboratories, Inc., Cepheid, Inc., Hologic, Inc., Quidel Corporation, F. Hoffmann La-Roche, Ltd accounting for higesh market shares and are some of the major players operating in the market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Rapid Test Market - By Product Type
1.3.2 Rapid Test Market - By Application
1.3.3 Rapid Test Market - By End User
1.3.4 Rapid Test Market - By Region
1.3.4.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. RAPID TEST 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. RAPID TEST 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, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. RAPID TEST MARKET - GLOBAL MARKET ANALYSIS
6.1. RAPID TEST - GLOBAL MARKET OVERVIEW
6.2. RAPID TEST - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RAPID TEST MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. OVER-THE-COUNTER (OTC) RAPID TEST PRODUCTS
7.3.1. Overview
7.3.2. Over-the-counter (OTC) Rapid Test Products Market Forecast and Analysis
7.4. PROFESSIONAL RAPID TEST PRODUCTS
7.4.1. Overview
7.4.2. Professional Rapid Test Products Market Forecast and Analysis
8. RAPID TEST MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. INFECTIOUS DISEASES
8.3.1. Overview
8.3.2. Infectious Diseases Market Forecast and Analysis
8.4. CARDIOLOGY
8.4.1. Overview
8.4.2. Cardiology Market Forecast and Analysis
8.5. ONCOLOGY
8.5.1. Overview
8.5.2. Oncology Market Forecast and Analysis
8.6. PREGNANCY AND FERTILITY
8.6.1. Overview
8.6.2. Pregnancy and Fertility Market Forecast and Analysis
8.7. TOXICOLOGY
8.7.1. Overview
8.7.2. Toxicology Market Forecast and Analysis
8.8. GLUCOSE MONITORING
8.8.1. Overview
8.8.2. Glucose Monitoring Market Forecast and Analysis
8.9. OTHERS
8.9.1. Overview
8.9.2. Others Market Forecast and Analysis
9. RAPID TEST MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS AND CLINICS
9.3.1. Overview
9.3.2. Hospitals and Clinics Market Forecast and Analysis
9.4. DIAGNOSTIC LABORATORIES
9.4.1. Overview
9.4.2. Diagnostic Laboratories Market Forecast and Analysis
9.5. HOME CARE
9.5.1. Overview
9.5.2. Home Care Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. RAPID TEST MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Rapid Test Market Overview
10.1.2 North America Rapid Test Market Forecasts and Analysis
10.1.3 North America Rapid Test Market Forecasts and Analysis - By Product Type
10.1.4 North America Rapid Test Market Forecasts and Analysis - By Application
10.1.5 North America Rapid Test Market Forecasts and Analysis - By End User
10.1.6 North America Rapid Test Market Forecasts and Analysis - By Countries
10.1.6.1 United States Rapid Test Market
10.1.6.1.1 United States Rapid Test Market by Product Type
10.1.6.1.2 United States Rapid Test Market by Application
10.1.6.1.3 United States Rapid Test Market by End User
10.1.6.2 Canada Rapid Test Market
10.1.6.2.1 Canada Rapid Test Market by Product Type
10.1.6.2.2 Canada Rapid Test Market by Application
10.1.6.2.3 Canada Rapid Test Market by End User
10.1.6.3 Mexico Rapid Test Market
10.1.6.3.1 Mexico Rapid Test Market by Product Type
10.1.6.3.2 Mexico Rapid Test Market by Application
10.1.6.3.3 Mexico Rapid Test Market by End User
10.2. EUROPE
10.2.1 Europe Rapid Test Market Overview
10.2.2 Europe Rapid Test Market Forecasts and Analysis
10.2.3 Europe Rapid Test Market Forecasts and Analysis - By Product Type
10.2.4 Europe Rapid Test Market Forecasts and Analysis - By Application
10.2.5 Europe Rapid Test Market Forecasts and Analysis - By End User
10.2.6 Europe Rapid Test Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Rapid Test Market
10.2.6.1.1 Germany Rapid Test Market by Product Type
10.2.6.1.2 Germany Rapid Test Market by Application
10.2.6.1.3 Germany Rapid Test Market by End User
10.2.6.2 France Rapid Test Market
10.2.6.2.1 France Rapid Test Market by Product Type
10.2.6.2.2 France Rapid Test Market by Application
10.2.6.2.3 France Rapid Test Market by End User
10.2.6.3 Italy Rapid Test Market
10.2.6.3.1 Italy Rapid Test Market by Product Type
10.2.6.3.2 Italy Rapid Test Market by Application
10.2.6.3.3 Italy Rapid Test Market by End User
10.2.6.4 Spain Rapid Test Market
10.2.6.4.1 Spain Rapid Test Market by Product Type
10.2.6.4.2 Spain Rapid Test Market by Application
10.2.6.4.3 Spain Rapid Test Market by End User
10.2.6.5 United Kingdom Rapid Test Market
10.2.6.5.1 United Kingdom Rapid Test Market by Product Type
10.2.6.5.2 United Kingdom Rapid Test Market by Application
10.2.6.5.3 United Kingdom Rapid Test Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Rapid Test Market Overview
10.3.2 Asia-Pacific Rapid Test Market Forecasts and Analysis
10.3.3 Asia-Pacific Rapid Test Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Rapid Test Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Rapid Test Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Rapid Test Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Rapid Test Market
10.3.6.1.1 Australia Rapid Test Market by Product Type
10.3.6.1.2 Australia Rapid Test Market by Application
10.3.6.1.3 Australia Rapid Test Market by End User
10.3.6.2 China Rapid Test Market
10.3.6.2.1 China Rapid Test Market by Product Type
10.3.6.2.2 China Rapid Test Market by Application
10.3.6.2.3 China Rapid Test Market by End User
10.3.6.3 India Rapid Test Market
10.3.6.3.1 India Rapid Test Market by Product Type
10.3.6.3.2 India Rapid Test Market by Application
10.3.6.3.3 India Rapid Test Market by End User
10.3.6.4 Japan Rapid Test Market
10.3.6.4.1 Japan Rapid Test Market by Product Type
10.3.6.4.2 Japan Rapid Test Market by Application
10.3.6.4.3 Japan Rapid Test Market by End User
10.3.6.5 South Korea Rapid Test Market
10.3.6.5.1 South Korea Rapid Test Market by Product Type
10.3.6.5.2 South Korea Rapid Test Market by Application
10.3.6.5.3 South Korea Rapid Test Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Rapid Test Market Overview
10.4.2 Middle East and Africa Rapid Test Market Forecasts and Analysis
10.4.3 Middle East and Africa Rapid Test Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Rapid Test Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Rapid Test Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Rapid Test Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Rapid Test Market
10.4.6.1.1 South Africa Rapid Test Market by Product Type
10.4.6.1.2 South Africa Rapid Test Market by Application
10.4.6.1.3 South Africa Rapid Test Market by End User
10.4.6.2 Saudi Arabia Rapid Test Market
10.4.6.2.1 Saudi Arabia Rapid Test Market by Product Type
10.4.6.2.2 Saudi Arabia Rapid Test Market by Application
10.4.6.2.3 Saudi Arabia Rapid Test Market by End User
10.4.6.3 U.A.E Rapid Test Market
10.4.6.3.1 U.A.E Rapid Test Market by Product Type
10.4.6.3.2 U.A.E Rapid Test Market by Application
10.4.6.3.3 U.A.E Rapid Test Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Rapid Test Market Overview
10.5.2 South and Central America Rapid Test Market Forecasts and Analysis
10.5.3 South and Central America Rapid Test Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Rapid Test Market Forecasts and Analysis - By Application
10.5.5 South and Central America Rapid Test Market Forecasts and Analysis - By End User
10.5.6 South and Central America Rapid Test Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Rapid Test Market
10.5.6.1.1 Brazil Rapid Test Market by Product Type
10.5.6.1.2 Brazil Rapid Test Market by Application
10.5.6.1.3 Brazil Rapid Test Market by End User
10.5.6.2 Argentina Rapid Test Market
10.5.6.2.1 Argentina Rapid Test Market by Product Type
10.5.6.2.2 Argentina Rapid Test Market by Application
10.5.6.2.3 Argentina Rapid Test Market by End User
11. INDUSTRY LANDSCAPE
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. RAPID TEST MARKET, KEY COMPANY PROFILES
12.1. AKERS BIOSCIENCES, INC.
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. ALERE, INC. (ABBOTT)
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. BD
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. BIO-RAD LABORATORIES, INC.
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. CEPHEID, INC.
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. HOLOGIC, 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. MERIDIAN BIOSCIENCE, 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. ORASURE TECHNOLOGIES, INC.
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. QUIDEL CORPORATION
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
12.10. F. HOFFMANN LA-ROCHE, LTD.
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Akers Biosciences, Inc.
2. Alere, Inc. (Abbott)
3. BD
4. Bio-Rad Laboratories, Inc.
5. Cepheid, Inc.
6. Hologic, Inc.
7. Meridian Bioscience, Inc.
8. OraSure Technologies, Inc.
9. Quidel Corporation
10. F. Hoffmann La-Roche, Ltd.
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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