RNA Sequencing Services Market Trends, Size and Forecast (2021-2031)
The RNA Sequencing Services Market is expected to register a CAGR of 7.9% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The RNA Sequencing Services Market report covers analysis by Type (Non Coding RNA Sequencing, Direct RNA Sequencing); Product (Ribosomal RNA (rRNA), Transfer RNA (tRNA), Long ncRNA (lncRNA)); End Use (Academic and Government Institutes and Research Centers, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, and Other End Users). 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 RNA Sequencing Services 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.
RNA Sequencing Services Market Segmentation
Type- Non Coding RNA Sequencing
- Direct RNA Sequencing
- Ribosomal RNA
- Transfer RNA
- Long ncRNA
- Academic and Government Institutes and Research Centers
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Other End Users
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
RNA Sequencing Services Market Growth Drivers- Advancement in Sequencing Technologies: Next-generation sequencing innovations improved accuracy and efficiency, further driving the RNA sequencing services market size. Recent market analysis has highlighted demand for faster and cost-effective solutions.
- Growing Genomics Research: The growth of the global market is supported by rising investments in genomics, with PEST analysis suggesting a favorable regulatory environment. Trends in the market reveal RNA sequencing's importance in disease research.
- Applications in Personalized Medicine: Competitive analysis shows RNA sequencing to be critical for precision medicine, thus fueling market demand. Market reports predict steady growth because of its diagnostic and therapeutic value.
- Technological Innovation: Next-generation sequencing (NGS) platforms are continually improving, offering higher accuracy, efficiency, and cost-effectiveness for RNA sequencing processes.
- Expanding Applications: RNA sequencing is increasingly used in drug discovery, biomarker identification, disease research, and precision medicine, reflecting its versatility in both research and clinical settings.
- Personalized Medicine: The demand for personalized and precision therapies is boosting the adoption of RNA-Seq, as it provides detailed gene expression insights critical for tailored treatments.
- Advancing Precision Medicine: RNA sequencing enables personalized healthcare solutions by providing detailed insights into gene expression, creating opportunities for tailored therapies and diagnostics.
- Drug Development and Discovery: Pharma and biotech companies increasingly rely on RNA-Seq for identifying biomarkers and understanding disease mechanisms, driving demand for sequencing services in drug research.
- Integration with Emerging Technologies: Incorporating AI, machine learning, and cloud computing can enhance data analysis and accessibility, opening doors for service providers to deliver more sophisticated solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the RNA Sequencing Services 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 RNA Sequencing Services Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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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 report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
Key companies of this market are: Thermo Fisher, BGI, Illumina, Active Motif, CD Genomics, Exiqon, Novogene, GENEWIZ, LC Sciences
Key future trends in this market are - Increasing Adoption in Personalized Medicine, Development of Cost-Effective Technologies, Expansion in Clinical Diagnostics
The RNA Sequencing Services Market is estimated to witness a CAGR of 7.9% from 2023 to 2031.
The major factors driving the market are: Advancements in sequencing technologies, Rising genomics research investment, Applications in personalized medicine.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 RNA Sequencing Services Market - By Type
1.3.2 RNA Sequencing Services Market - By Product
1.3.3 RNA Sequencing Services Market - By End Use
1.3.4 RNA Sequencing Services Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RNA SEQUENCING SERVICES 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. RNA SEQUENCING SERVICES 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. RNA SEQUENCING SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. RNA SEQUENCING SERVICES - GLOBAL MARKET OVERVIEW
6.2. RNA SEQUENCING SERVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. RNA SEQUENCING SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. NON CODING RNA SEQUENCING
7.3.1. Overview
7.3.2. Non Coding RNA Sequencing Market Forecast and Analysis
7.4. DIRECT RNA SEQUENCING
7.4.1. Overview
7.4.2. Direct RNA Sequencing Market Forecast and Analysis
8. RNA SEQUENCING SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
8.1. OVERVIEW
8.2. PRODUCT MARKET FORECASTS AND ANALYSIS
8.3. RIBOSOMAL RNA (RRNA)
8.3.1. Overview
8.3.2. Ribosomal RNA (rRNA) Market Forecast and Analysis
8.4. TRANSFER RNA (TRNA)
8.4.1. Overview
8.4.2. Transfer RNA (tRNA) Market Forecast and Analysis
8.5. LONG NCRNA (LNCRNA)
8.5.1. Overview
8.5.2. Long ncRNA (lncRNA) Market Forecast and Analysis
9. RNA SEQUENCING SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USE
9.1. OVERVIEW
9.2. END USE MARKET FORECASTS AND ANALYSIS
9.3. ACADEMIC AND GOVERNMENT INSTITUTES AND RESEARCH CENTERS
9.3.1. Overview
9.3.2. Academic and Government Institutes and Research Centers Market Forecast and Analysis
9.4. HOSPITALS AND CLINICS
9.4.1. Overview
9.4.2. Hospitals and Clinics Market Forecast and Analysis
9.5. PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES
9.5.1. Overview
9.5.2. Pharmaceutical and Biotechnology Companies Market Forecast and Analysis
9.6. OTHER END USERS
9.6.1. Overview
9.6.2. Other End Users Market Forecast and Analysis
10. RNA SEQUENCING SERVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America RNA Sequencing Services Market Overview
10.1.2 North America RNA Sequencing Services Market Forecasts and Analysis
10.1.3 North America RNA Sequencing Services Market Forecasts and Analysis - By Type
10.1.4 North America RNA Sequencing Services Market Forecasts and Analysis - By Product
10.1.5 North America RNA Sequencing Services Market Forecasts and Analysis - By End Use
10.1.6 North America RNA Sequencing Services Market Forecasts and Analysis - By Countries
10.1.6.1 United States RNA Sequencing Services Market
10.1.6.1.1 United States RNA Sequencing Services Market by Type
10.1.6.1.2 United States RNA Sequencing Services Market by Product
10.1.6.1.3 United States RNA Sequencing Services Market by End Use
10.1.6.2 Canada RNA Sequencing Services Market
10.1.6.2.1 Canada RNA Sequencing Services Market by Type
10.1.6.2.2 Canada RNA Sequencing Services Market by Product
10.1.6.2.3 Canada RNA Sequencing Services Market by End Use
10.1.6.3 Mexico RNA Sequencing Services Market
10.1.6.3.1 Mexico RNA Sequencing Services Market by Type
10.1.6.3.2 Mexico RNA Sequencing Services Market by Product
10.1.6.3.3 Mexico RNA Sequencing Services Market by End Use
10.2. EUROPE
10.2.1 Europe RNA Sequencing Services Market Overview
10.2.2 Europe RNA Sequencing Services Market Forecasts and Analysis
10.2.3 Europe RNA Sequencing Services Market Forecasts and Analysis - By Type
10.2.4 Europe RNA Sequencing Services Market Forecasts and Analysis - By Product
10.2.5 Europe RNA Sequencing Services Market Forecasts and Analysis - By End Use
10.2.6 Europe RNA Sequencing Services Market Forecasts and Analysis - By Countries
10.2.6.1 Germany RNA Sequencing Services Market
10.2.6.1.1 Germany RNA Sequencing Services Market by Type
10.2.6.1.2 Germany RNA Sequencing Services Market by Product
10.2.6.1.3 Germany RNA Sequencing Services Market by End Use
10.2.6.2 France RNA Sequencing Services Market
10.2.6.2.1 France RNA Sequencing Services Market by Type
10.2.6.2.2 France RNA Sequencing Services Market by Product
10.2.6.2.3 France RNA Sequencing Services Market by End Use
10.2.6.3 Italy RNA Sequencing Services Market
10.2.6.3.1 Italy RNA Sequencing Services Market by Type
10.2.6.3.2 Italy RNA Sequencing Services Market by Product
10.2.6.3.3 Italy RNA Sequencing Services Market by End Use
10.2.6.4 Spain RNA Sequencing Services Market
10.2.6.4.1 Spain RNA Sequencing Services Market by Type
10.2.6.4.2 Spain RNA Sequencing Services Market by Product
10.2.6.4.3 Spain RNA Sequencing Services Market by End Use
10.2.6.5 United Kingdom RNA Sequencing Services Market
10.2.6.5.1 United Kingdom RNA Sequencing Services Market by Type
10.2.6.5.2 United Kingdom RNA Sequencing Services Market by Product
10.2.6.5.3 United Kingdom RNA Sequencing Services Market by End Use
10.2.6.6 Rest of Europe RNA Sequencing Services Market
10.2.6.6.1 Rest of Europe RNA Sequencing Services Market by Type
10.2.6.6.2 Rest of Europe RNA Sequencing Services Market by Product
10.2.6.6.3 Rest of Europe RNA Sequencing Services Market by End Use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific RNA Sequencing Services Market Overview
10.3.2 Asia-Pacific RNA Sequencing Services Market Forecasts and Analysis
10.3.3 Asia-Pacific RNA Sequencing Services Market Forecasts and Analysis - By Type
10.3.4 Asia-Pacific RNA Sequencing Services Market Forecasts and Analysis - By Product
10.3.5 Asia-Pacific RNA Sequencing Services Market Forecasts and Analysis - By End Use
10.3.6 Asia-Pacific RNA Sequencing Services Market Forecasts and Analysis - By Countries
10.3.6.1 Australia RNA Sequencing Services Market
10.3.6.1.1 Australia RNA Sequencing Services Market by Type
10.3.6.1.2 Australia RNA Sequencing Services Market by Product
10.3.6.1.3 Australia RNA Sequencing Services Market by End Use
10.3.6.2 China RNA Sequencing Services Market
10.3.6.2.1 China RNA Sequencing Services Market by Type
10.3.6.2.2 China RNA Sequencing Services Market by Product
10.3.6.2.3 China RNA Sequencing Services Market by End Use
10.3.6.3 India RNA Sequencing Services Market
10.3.6.3.1 India RNA Sequencing Services Market by Type
10.3.6.3.2 India RNA Sequencing Services Market by Product
10.3.6.3.3 India RNA Sequencing Services Market by End Use
10.3.6.4 Japan RNA Sequencing Services Market
10.3.6.4.1 Japan RNA Sequencing Services Market by Type
10.3.6.4.2 Japan RNA Sequencing Services Market by Product
10.3.6.4.3 Japan RNA Sequencing Services Market by End Use
10.3.6.5 South Korea RNA Sequencing Services Market
10.3.6.5.1 South Korea RNA Sequencing Services Market by Type
10.3.6.5.2 South Korea RNA Sequencing Services Market by Product
10.3.6.5.3 South Korea RNA Sequencing Services Market by End Use
10.3.6.6 Rest of Asia-Pacific RNA Sequencing Services Market
10.3.6.6.1 Rest of Asia-Pacific RNA Sequencing Services Market by Type
10.3.6.6.2 Rest of Asia-Pacific RNA Sequencing Services Market by Product
10.3.6.6.3 Rest of Asia-Pacific RNA Sequencing Services Market by End Use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa RNA Sequencing Services Market Overview
10.4.2 Middle East and Africa RNA Sequencing Services Market Forecasts and Analysis
10.4.3 Middle East and Africa RNA Sequencing Services Market Forecasts and Analysis - By Type
10.4.4 Middle East and Africa RNA Sequencing Services Market Forecasts and Analysis - By Product
10.4.5 Middle East and Africa RNA Sequencing Services Market Forecasts and Analysis - By End Use
10.4.6 Middle East and Africa RNA Sequencing Services Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa RNA Sequencing Services Market
10.4.6.1.1 South Africa RNA Sequencing Services Market by Type
10.4.6.1.2 South Africa RNA Sequencing Services Market by Product
10.4.6.1.3 South Africa RNA Sequencing Services Market by End Use
10.4.6.2 Saudi Arabia RNA Sequencing Services Market
10.4.6.2.1 Saudi Arabia RNA Sequencing Services Market by Type
10.4.6.2.2 Saudi Arabia RNA Sequencing Services Market by Product
10.4.6.2.3 Saudi Arabia RNA Sequencing Services Market by End Use
10.4.6.3 U.A.E RNA Sequencing Services Market
10.4.6.3.1 U.A.E RNA Sequencing Services Market by Type
10.4.6.3.2 U.A.E RNA Sequencing Services Market by Product
10.4.6.3.3 U.A.E RNA Sequencing Services Market by End Use
10.4.6.4 Rest of Middle East and Africa RNA Sequencing Services Market
10.4.6.4.1 Rest of Middle East and Africa RNA Sequencing Services Market by Type
10.4.6.4.2 Rest of Middle East and Africa RNA Sequencing Services Market by Product
10.4.6.4.3 Rest of Middle East and Africa RNA Sequencing Services Market by End Use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America RNA Sequencing Services Market Overview
10.5.2 South and Central America RNA Sequencing Services Market Forecasts and Analysis
10.5.3 South and Central America RNA Sequencing Services Market Forecasts and Analysis - By Type
10.5.4 South and Central America RNA Sequencing Services Market Forecasts and Analysis - By Product
10.5.5 South and Central America RNA Sequencing Services Market Forecasts and Analysis - By End Use
10.5.6 South and Central America RNA Sequencing Services Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil RNA Sequencing Services Market
10.5.6.1.1 Brazil RNA Sequencing Services Market by Type
10.5.6.1.2 Brazil RNA Sequencing Services Market by Product
10.5.6.1.3 Brazil RNA Sequencing Services Market by End Use
10.5.6.2 Argentina RNA Sequencing Services Market
10.5.6.2.1 Argentina RNA Sequencing Services Market by Type
10.5.6.2.2 Argentina RNA Sequencing Services Market by Product
10.5.6.2.3 Argentina RNA Sequencing Services Market by End Use
10.5.6.3 Rest of South and Central America RNA Sequencing Services Market
10.5.6.3.1 Rest of South and Central America RNA Sequencing Services Market by Type
10.5.6.3.2 Rest of South and Central America RNA Sequencing Services Market by Product
10.5.6.3.3 Rest of South and Central America RNA Sequencing Services Market by End Use
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL RNA SEQUENCING SERVICES MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. RNA SEQUENCING SERVICES MARKET, KEY COMPANY PROFILES
13.1. THERMO FISHER
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BGI
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. ILLUMINA
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. ACTIVE MOTIF
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. CD GENOMICS
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. EXIQON
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. NOVOGENE
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. GENEWIZ
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. LC SCIENCES
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. DIAGENODE
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Thermo Fisher
2. BGI
3. Illumina
4. Active Motif
5. CD Genomics
6. Exiqon
7. Novogene
8. GENEWIZ
9. LC Sciences
10. Diagenode
11. Arraystar
12. BaseClear
13. Phalanx Biotech
14. CeGaT GmbH
15. Genomax
16. Qiagen
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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