RSV Diagnostics Market Analysis, Opportunities by 2031
The RSV Diagnostics Market is expected to register a CAGR of 8.3% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Product (Kits and Assays, Instruments); Method (Rapid Antigen Detection Test, Molecular Diagnostic); End User (Hospitals and Clinics, Clinical Laboratories, Homecare settings). 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 RSV Diagnostics 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.
RSV Diagnostics Market Segmentation
Product- Kits and Assays
- Instruments
- Rapid Antigen Detection Test
- Molecular Diagnostic
- Hospitals and Clinics
- Clinical Laboratories
- Homecare settings
Strategic Insights
RSV Diagnostics Market Growth Drivers- Increasing Cases of RSV Infections: The increasing cases of respiratory syncytial virus infections among infants and the elderly are another factor driving the RSV diagnostics market forward. Because the acute health risks associated with RSV are increasingly known, front-end pressure on the service providers has increased, and they are becoming more aggressive in their efforts toward early diagnosis. This has led to increased demand for more complex diagnostic reagents and technologies, sustaining the growth of the market.
- Technological Advances in Diagnostic Technologies: In diagnostics, the area for RSV diagnostics is an area where advanced innovative diagnostic technologies keep coming up. These include molecular diagnostics and rapid antigen detection tests. Such advances raise the speed and accuracy in the testing for RSV. Consequently, it will lead to quick clinical decisions that are applied. This is likely to be a driving factor that increases the demand for advanced RSV diagnostic solutions, thus showing market growth as more health institutions embrace the technological changes.
- Government Initiatives and Funding: Various government initiatives and funding towards better management of respiratory diseases had a positive impact on the RSV diagnostics market. Public health campaigns and funding to the health infrastructure are promoting awareness and access to RSV testing. These increase the ability to diagnose but research and development in the area create a productive environment for growth and innovation in the market.
- Growth in Molecular Diagnostics: A major trend in the diagnostics market of RSV is the uptake of molecular diagnostic tests. These tests, including PCR (Polymerase Chain Reaction) technology, tend to be of a higher sensitivity and specificity as compared to the older testing methods. There is an increase in demand due to RSV molecular diagnostics for faster and more accurate results among healthcare providers, eventually leading to better patient management and outcomes in treatment.
- Integration of Point-of-Care Testing: The integration of point-of-care testing is changing the diagnostics landscape for RSV. POC tests allow for rapid diagnosis at the site of care, where patients are being treated, thereby reducing the time to treatment and patient outcomes. This transition is most welcome, especially in emergency and outpatient settings, wherein time intervention is critical. As the technology advances, availability and accuracy of POC RSV tests will be improved.
- Increased Focus on Pediatric Care: Pediatric care emphasis is on the rise in the RSV diagnostics market since infants and small children are susceptible to RSV infections. The healthcare systems emphasize the design of diagnostic technologies with their needs in mind. This would help serve pediatric patients with specific solutions in addition to driving forward innovation in RSV diagnostics to lead to better health care strategies to deal with respiratory infections in children.
- Expansion of telehealth services: Telehealth services are rapidly expanding, and this serves as an excellent opportunity for the RSV diagnostics market. The increase in remote consultation models on the side of healthcare providers would create a high demand for at-home diagnostic kits to be used by either patients or their caregivers. This would open up not only the accessibility possibility in terms of RSV testing but also correlates to a shift in a patient-centered care model that further drives market growth.
- Development of Combination Diagnostic Tests: There is a huge scope for manufacturers to come up with combination diagnostic tests, which can be used for the detection of RSV in combination with other respiratory pathogens. Multiplex testing solutions that do this can streamline diagnostics, reduce multiple testing, and improve patient management. Through this innovation, companies can seize even more of the increasing demand for more comprehensive diagnostics to support infections of the respiratory tract.
- Opportunity for Large Investment in Research and Development of RSV Diagnostics: Numerous opportunities exist for companies in the market: increased investments in research and development into RSV diagnostics. Advanced knowledge about the pathogen should allow new breakthroughs in technologies and methodologies for diagnosis to emerge. Companies focused on innovative solutions such as next-generation sequencing and advanced biomarker discovery can commit significant resources to that opportunity, enhance their product offerings, and monitor the evolving healthcare needs of the customers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the RSV Diagnostics 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 RSV Diagnostics 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The market is expected to grow at a CAGR of 8.3%
Increasing Cases of RSV Infections is the major factors boosting the RSV Diagnostics Market growth
The North America region accounts for highest revenue share RSV Diagnostics Market?
The final report will duly include market size and projection estimates for all the segments from 2021 to 2031, along with a revenue share and compound annual growth rate (%) for the regional
/
country-wise market wherein 2021-2022 are the historic years, 2023 is considered to be the base year, and the forecast will be provided till 2031, along with CAGR (%)
Asia Pacific is estimated to grow at the highest CAGR over the forecast year (2023 - 2031)
bioMerieux SA, Abbott, F. Hoffmann-La Roche Ltd, BD, Thermo Fisher Scientific are the major companies operating in the RSV Diagnostics Market
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 RSV Diagnostics Market - By Product
1.3.2 RSV Diagnostics Market - By Method
1.3.3 RSV Diagnostics Market - By End User
1.3.4 RSV Diagnostics Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RSV DIAGNOSTICS 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. RSV DIAGNOSTICS 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. RSV DIAGNOSTICS MARKET - GLOBAL MARKET ANALYSIS
6.1. RSV DIAGNOSTICS - GLOBAL MARKET OVERVIEW
6.2. RSV DIAGNOSTICS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RSV DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. KITS AND ASSAYS
7.3.1. Overview
7.3.2. Kits and Assays Market Forecast and Analysis
7.4. INSTRUMENTS
7.4.1. Overview
7.4.2. Instruments Market Forecast and Analysis
8. RSV DIAGNOSTICS MARKET - REVENUE AND FORECASTS TO 2028 - METHOD
8.1. OVERVIEW
8.2. METHOD MARKET FORECASTS AND ANALYSIS
8.3. RAPID ANTIGEN DETECTION TEST
8.3.1. Overview
8.3.2. Rapid Antigen Detection Test Market Forecast and Analysis
8.3.3. Immunofluorescence Assay Market
8.3.3.1. Overview
8.3.3.2. Immunofluorescence Assay Market Forecast and Analysis
8.3.4. ELISA Market
8.3.4.1. Overview
8.3.4.2. ELISA Market Forecast and Analysis
8.4. MOLECULAR DIAGNOSTIC
8.4.1. Overview
8.4.2. Molecular Diagnostic Market Forecast and Analysis
9. RSV DIAGNOSTICS 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. CLINICAL LABORATORIES
9.4.1. Overview
9.4.2. Clinical Laboratories Market Forecast and Analysis
9.5. HOMECARE SETTINGS
9.5.1. Overview
9.5.2. Homecare settings Market Forecast and Analysis
10. RSV DIAGNOSTICS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America RSV Diagnostics Market Overview
10.1.2 North America RSV Diagnostics Market Forecasts and Analysis
10.1.3 North America RSV Diagnostics Market Forecasts and Analysis - By Product
10.1.4 North America RSV Diagnostics Market Forecasts and Analysis - By Method
10.1.5 North America RSV Diagnostics Market Forecasts and Analysis - By End User
10.1.6 North America RSV Diagnostics Market Forecasts and Analysis - By Countries
10.1.6.1 United States RSV Diagnostics Market
10.1.6.1.1 United States RSV Diagnostics Market by Product
10.1.6.1.2 United States RSV Diagnostics Market by Method
10.1.6.1.3 United States RSV Diagnostics Market by End User
10.1.6.2 Canada RSV Diagnostics Market
10.1.6.2.1 Canada RSV Diagnostics Market by Product
10.1.6.2.2 Canada RSV Diagnostics Market by Method
10.1.6.2.3 Canada RSV Diagnostics Market by End User
10.1.6.3 Mexico RSV Diagnostics Market
10.1.6.3.1 Mexico RSV Diagnostics Market by Product
10.1.6.3.2 Mexico RSV Diagnostics Market by Method
10.1.6.3.3 Mexico RSV Diagnostics Market by End User
10.2. EUROPE
10.2.1 Europe RSV Diagnostics Market Overview
10.2.2 Europe RSV Diagnostics Market Forecasts and Analysis
10.2.3 Europe RSV Diagnostics Market Forecasts and Analysis - By Product
10.2.4 Europe RSV Diagnostics Market Forecasts and Analysis - By Method
10.2.5 Europe RSV Diagnostics Market Forecasts and Analysis - By End User
10.2.6 Europe RSV Diagnostics Market Forecasts and Analysis - By Countries
10.2.6.1 Germany RSV Diagnostics Market
10.2.6.1.1 Germany RSV Diagnostics Market by Product
10.2.6.1.2 Germany RSV Diagnostics Market by Method
10.2.6.1.3 Germany RSV Diagnostics Market by End User
10.2.6.2 France RSV Diagnostics Market
10.2.6.2.1 France RSV Diagnostics Market by Product
10.2.6.2.2 France RSV Diagnostics Market by Method
10.2.6.2.3 France RSV Diagnostics Market by End User
10.2.6.3 Italy RSV Diagnostics Market
10.2.6.3.1 Italy RSV Diagnostics Market by Product
10.2.6.3.2 Italy RSV Diagnostics Market by Method
10.2.6.3.3 Italy RSV Diagnostics Market by End User
10.2.6.4 Spain RSV Diagnostics Market
10.2.6.4.1 Spain RSV Diagnostics Market by Product
10.2.6.4.2 Spain RSV Diagnostics Market by Method
10.2.6.4.3 Spain RSV Diagnostics Market by End User
10.2.6.5 United Kingdom RSV Diagnostics Market
10.2.6.5.1 United Kingdom RSV Diagnostics Market by Product
10.2.6.5.2 United Kingdom RSV Diagnostics Market by Method
10.2.6.5.3 United Kingdom RSV Diagnostics Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific RSV Diagnostics Market Overview
10.3.2 Asia-Pacific RSV Diagnostics Market Forecasts and Analysis
10.3.3 Asia-Pacific RSV Diagnostics Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific RSV Diagnostics Market Forecasts and Analysis - By Method
10.3.5 Asia-Pacific RSV Diagnostics Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific RSV Diagnostics Market Forecasts and Analysis - By Countries
10.3.6.1 Australia RSV Diagnostics Market
10.3.6.1.1 Australia RSV Diagnostics Market by Product
10.3.6.1.2 Australia RSV Diagnostics Market by Method
10.3.6.1.3 Australia RSV Diagnostics Market by End User
10.3.6.2 China RSV Diagnostics Market
10.3.6.2.1 China RSV Diagnostics Market by Product
10.3.6.2.2 China RSV Diagnostics Market by Method
10.3.6.2.3 China RSV Diagnostics Market by End User
10.3.6.3 India RSV Diagnostics Market
10.3.6.3.1 India RSV Diagnostics Market by Product
10.3.6.3.2 India RSV Diagnostics Market by Method
10.3.6.3.3 India RSV Diagnostics Market by End User
10.3.6.4 Japan RSV Diagnostics Market
10.3.6.4.1 Japan RSV Diagnostics Market by Product
10.3.6.4.2 Japan RSV Diagnostics Market by Method
10.3.6.4.3 Japan RSV Diagnostics Market by End User
10.3.6.5 South Korea RSV Diagnostics Market
10.3.6.5.1 South Korea RSV Diagnostics Market by Product
10.3.6.5.2 South Korea RSV Diagnostics Market by Method
10.3.6.5.3 South Korea RSV Diagnostics Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa RSV Diagnostics Market Overview
10.4.2 Middle East and Africa RSV Diagnostics Market Forecasts and Analysis
10.4.3 Middle East and Africa RSV Diagnostics Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa RSV Diagnostics Market Forecasts and Analysis - By Method
10.4.5 Middle East and Africa RSV Diagnostics Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa RSV Diagnostics Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa RSV Diagnostics Market
10.4.6.1.1 South Africa RSV Diagnostics Market by Product
10.4.6.1.2 South Africa RSV Diagnostics Market by Method
10.4.6.1.3 South Africa RSV Diagnostics Market by End User
10.4.6.2 Saudi Arabia RSV Diagnostics Market
10.4.6.2.1 Saudi Arabia RSV Diagnostics Market by Product
10.4.6.2.2 Saudi Arabia RSV Diagnostics Market by Method
10.4.6.2.3 Saudi Arabia RSV Diagnostics Market by End User
10.4.6.3 U.A.E RSV Diagnostics Market
10.4.6.3.1 U.A.E RSV Diagnostics Market by Product
10.4.6.3.2 U.A.E RSV Diagnostics Market by Method
10.4.6.3.3 U.A.E RSV Diagnostics Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America RSV Diagnostics Market Overview
10.5.2 South and Central America RSV Diagnostics Market Forecasts and Analysis
10.5.3 South and Central America RSV Diagnostics Market Forecasts and Analysis - By Product
10.5.4 South and Central America RSV Diagnostics Market Forecasts and Analysis - By Method
10.5.5 South and Central America RSV Diagnostics Market Forecasts and Analysis - By End User
10.5.6 South and Central America RSV Diagnostics Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil RSV Diagnostics Market
10.5.6.1.1 Brazil RSV Diagnostics Market by Product
10.5.6.1.2 Brazil RSV Diagnostics Market by Method
10.5.6.1.3 Brazil RSV Diagnostics Market by End User
10.5.6.2 Argentina RSV Diagnostics Market
10.5.6.2.1 Argentina RSV Diagnostics Market by Product
10.5.6.2.2 Argentina RSV Diagnostics Market by Method
10.5.6.2.3 Argentina RSV Diagnostics Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL RSV DIAGNOSTICS 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. RSV DIAGNOSTICS MARKET, KEY COMPANY PROFILES
13.1. BIOMéRIEUX SA
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. ABBOTT
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. F. HOFFMANN-LA ROCHE LTD
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. BD
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. THERMO FISHER SCIENTIFIC
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. LUMINEX CORPORATION
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. DANAHER CORPORATION
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. BIOCARTIS SA
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. HOLOGIC, INC
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. ALNYLAM PHARMACEUTICALS, INC.
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. bioMérieux SA
2. Abbott
3. F. Hoffmann-La Roche Ltd
4. BD
5. Thermo Fisher Scientific
6. Luminex Corporation
7. Danaher Corporation
8. Biocartis SA
9. Hologic, Inc
10. Alnylam Pharmaceuticals, Inc.
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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