Serological Testing Market 2031: Share and Forecast
The Serological Testing Market is expected to register a CAGR of 6.9% 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 Test Type (Primary Serological Tests, Secondary Serological Tests, Tertiary Binding Tests). The report further presents analysis based on the Application (Rotavirus Infections, Hepatitis, HIV, Endotoxin, Therapeutic Drug Monitoring, Other Infectious Diseases). The report is segmented by End Users (Hospitals, Diagnostic Laboratories, Blood Banks, Academic and Research Institutes, 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 Serological Testing 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.
Serological Testing Market Segmentation
Test Type- Primary Serological Tests
- Secondary Serological Tests
- Tertiary Binding Tests
- Rotavirus Infections
- Hepatitis
- HIV
- Endotoxin
- Therapeutic Drug Monitoring
- Other Infectious Diseases
- Hospitals
- Diagnostic Laboratories
- Blood Banks
- Academic and Research Institutes
- Others
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Serological Testing Market Growth Drivers- Increased Demand for Diagnostic Testing: Focus on the diagnostics has increased globally most especially due to covid 19 increasing the need for serological testing. Serological tests help in detection of antibodies in the blood, and help in appreciation of historical infection, measurement of immune response, and tracking the evolution of pathology. These tests are routinely employed to evaluate immune response after a vaccination or infection and play important role in not only battling infectious enlargements such as SARS-CoV-2, but others such as the human immunodeficiency virus (HIV), hepatitis and Lyme disease. There continues to be a global emphasis on and market growth due to the proactive management of health and surveillance of diseases.
- Technological Advancements in Testing Methods: The improvements of new testing devices significantly enhances the conventional serological tests in terms of sensitivities, specificities and speed of the tests. The innovation of fully automated test systems and fast test systems have made testing quicker by decreasing the length of time for obtaining results. Also, there has been an improvement in the overall quality of serological tests because of the increase in the accuracy of the tests introduced. Pragmatic approaches like point-of-care tests and digital diagnostics are also coming in, causing rapid turnover of results both in and out of clinical settings, opening up the market even wider.
- Growing Burden of Infectious Diseases: The increase in the global burden of infectious diseases along with the growing burden of chronic diseases has sparked the need for better medical diagnosis including serologic testing. Global threats like COVID-19, HIV infection, malaria, hepatitis, etc, are major public health concerns which demand attention in terms of active diagnosis and monitoring of immunity levels. This group of tests also helps to contain further magnitude of the outbreak of several diseases occurring in the population and help in targeting specific at risk areas or populations.
- Shifting Towards Point-of-Care (POC) Testing: The aspiration for portable, easy-to-use devices for serological testing is rapidly becoming popular since such an approach can fetch results more instantly without laboratory analysis. Thanks to point-of-care testing, health practitioners can make swifter clinical decisions especially in critical situations in remote areas or less developed countries. This is especially useful in infectious diseases where rapid diagnosis alters the way patient outcome is achieved. Moreover, No And Diagnost Ikor tests are becoming increasingly sophisticated as the designs of the test kits and mobile diagnostic platforms improve.
- Encouragement of Multiplex Testing: More and more multiplex serological testing is available and this allows the detection of several pathogens or antibodies in one sample at the same time without requiring a separate test. This change enables to save more on testing and makes testing more effective by eliminating the need to carry out several tests. Systems that include these technologies are advantageous especially in instances where a number of infections have to be excluded or confirmed at the same time. It is also beneficial to the patients and the healthcare institutions as a single test may be able to diagnose several illnesses.
- Incorporation of AI and Data Analytics: An upward trend noticed in this practice is the application of AI and data analytics in the serological diagnosis and it elevates the level of precision and time efficiency in diagnosis moreover. Disease management at the population health level is enhanced by use of AI tools to sort out a huge bulk of test results to find patterns and make forecasts on diseases. Furthermore, test management Agility AI systems assist with management of testing process, reduce risks associated with people’s input and the facilities used for the examination. Data analysis makes it possible to monitor such activity more closely and accurately at the population scale which is important as far as disease patterns and variation of immunity within a given population is concerned through more immunized or protected entries.
- Proactive Healthcare and Evaluation of Patients' Immune Systems: The serological testing market landscape is positively buoyed by the personalized medicine and immunity monitoring adoption. While patient segregation for precise categories of treatment is becoming the norm in many healthcare systems, the serological assessment will be central to profiling putative immune response in most types of patients. This is especially pertinent to vaccines where one can do an antibody test to help determine whether an individual needs a booster shot or a dose or is fully immunized. Additionally active surveillance of ones’ immune system against certain disease: causing agents will become very practical in managing diseases such as chronic diseases and cancers as well as autoimmune disorders.
- Emergence of Newer Serological Testing Platforms: There is already a solid basis for the creation of novel serological test platforms, which can be faster, cheaper and more accurate. This includes tests that can be done in isolated or rural areas and in low: resource conditions. Advances in the design of the test will include portable solutions, smart and molecular diagnostics as well as biosensors of the next generation. New platforms will be relevant not only to healthcare specialists, but also to the emerging sector of domestic consumers, increasingly requiring faster and easier diagnostics.
- Working with Biopharmaceutical Companies: With the increased need for serological tests alongside the advancement of vaccines and therapeutics, there lies a possibility of the synergy between diagnostic companies and biopharmaceutical companies. These types of collaborations would promote the development of novel tests for new pathogens and surveillance for immunization programs, as well as the actively monitoring drug development stages. Incorporating serological tests into the clinical trial stages and especially in the cardinal post: marketing surveillance of novel drugs will not only assure improvement in treatment outcomes but will also create a sustained demand for diagnostic solutions within the pharmaceutical sector.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Serological Testing 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 Serological Testing 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 Serological Testing Market is estimated to witness a CAGR of 6.9% from 202#to 2031
The major factors driving the Serological Testing market are:
1. Increased Demand for Diagnostic Testing
2. Technological Advancements in Testing Methods
Proactive Healthcare and Evaluation of Patients' Immune Systems act as a opportunity for growth of the market in forecast period.
North America region dominated the Serological Testing market in 2023.
Primary Serological Tests segment, by test type, dominated the market in 2023.
Players operating in the market are Serological Research Institute (SERI), Abbott, BD, F. Hoffmann La-Roche Ltd, Thermo Fisher Scientific, Inc., Randox Laboratories Ltd, Beckman Coulter, Inc., Creative Diagnostics, ELITechGroup, Quest Diagnostics
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Serological Testing Market - By Test Type
1.3.2 Serological Testing Market - By Application
1.3.3 Serological Testing Market - By End Users
1.3.4 Serological Testing Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SEROLOGICAL TESTING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. SEROLOGICAL TESTING 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. SEROLOGICAL TESTING MARKET - GLOBAL MARKET ANALYSIS
6.1. SEROLOGICAL TESTING - GLOBAL MARKET OVERVIEW
6.2. SEROLOGICAL TESTING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SEROLOGICAL TESTING MARKET - REVENUE AND FORECASTS TO 2028 - TEST TYPE
7.1. OVERVIEW
7.2. TEST TYPE MARKET FORECASTS AND ANALYSIS
7.3. PRIMARY SEROLOGICAL TESTS
7.3.1. Overview
7.3.2. Primary Serological Tests Market Forecast and Analysis
7.3.3. Enzyme Linked Immunosorbent Assay (ELISA) Market
7.3.3.1. Overview
7.3.3.2. Enzyme Linked Immunosorbent Assay (ELISA) Market Forecast and Analysis
7.3.4. Immunoflurescent Antibody Technique (IFAT) Market
7.3.4.1. Overview
7.3.4.2. Immunoflurescent Antibody Technique (IFAT) Market Forecast and Analysis
7.3.5. Radio Immunoassay (RIA) Market
7.3.5.1. Overview
7.3.5.2. Radio Immunoassay (RIA) Market Forecast and Analysis
7.4. SECONDARY SEROLOGICAL TESTS
7.4.1. Overview
7.4.2. Secondary Serological Tests Market Forecast and Analysis
7.4.3. Agglutination Tests Market
7.4.3.1. Overview
7.4.3.2. Agglutination Tests Market Forecast and Analysis
7.4.4. Complement Fixation Tests (CFT) Market
7.4.4.1. Overview
7.4.4.2. Complement Fixation Tests (CFT) Market Forecast and Analysis
7.4.5. Precipitation Tests Market
7.4.5.1. Overview
7.4.5.2. Precipitation Tests Market Forecast and Analysis
7.4.6. Serum Neutralization Tests (SNT) Market
7.4.6.1. Overview
7.4.6.2. Serum Neutralization Tests (SNT) Market Forecast and Analysis
7.4.7. Toxin-Antitoxin Tests Market
7.4.7.1. Overview
7.4.7.2. Toxin-Antitoxin Tests Market Forecast and Analysis
7.5. TERTIARY BINDING TESTS
7.5.1. Overview
7.5.2. Tertiary Binding Tests Market Forecast and Analysis
8. SEROLOGICAL TESTING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ROTAVIRUS INFECTIONS
8.3.1. Overview
8.3.2. Rotavirus Infections Market Forecast and Analysis
8.4. HEPATITIS
8.4.1. Overview
8.4.2. Hepatitis Market Forecast and Analysis
8.5. HIV
8.5.1. Overview
8.5.2. HIV Market Forecast and Analysis
8.6. ENDOTOXIN
8.6.1. Overview
8.6.2. Endotoxin Market Forecast and Analysis
8.7. THERAPEUTIC DRUG MONITORING
8.7.1. Overview
8.7.2. Therapeutic Drug Monitoring Market Forecast and Analysis
8.8. OTHER INFECTIOUS DISEASES
8.8.1. Overview
8.8.2. Other Infectious Diseases Market Forecast and Analysis
9. SEROLOGICAL TESTING MARKET - REVENUE AND FORECASTS TO 2028 - END USERS
9.1. OVERVIEW
9.2. END USERS MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. DIAGNOSTIC LABORATORIES
9.4.1. Overview
9.4.2. Diagnostic Laboratories Market Forecast and Analysis
9.5. BLOOD BANKS
9.5.1. Overview
9.5.2. Blood Banks Market Forecast and Analysis
9.6. ACADEMIC AND RESEARCH INSTITUTES
9.6.1. Overview
9.6.2. Academic and Research Institutes Market Forecast and Analysis
9.7. OTHERS
9.7.1. Overview
9.7.2. Others Market Forecast and Analysis
10. SEROLOGICAL TESTING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Serological Testing Market Overview
10.1.2 North America Serological Testing Market Forecasts and Analysis
10.1.3 North America Serological Testing Market Forecasts and Analysis - By Test Type
10.1.4 North America Serological Testing Market Forecasts and Analysis - By Application
10.1.5 North America Serological Testing Market Forecasts and Analysis - By End Users
10.1.6 North America Serological Testing Market Forecasts and Analysis - By Countries
10.1.6.1 Canada Serological Testing Market
10.1.6.1.1 Canada Serological Testing Market by Test Type
10.1.6.1.2 Canada Serological Testing Market by Application
10.1.6.1.3 Canada Serological Testing Market by End Users
10.1.6.2 Mexico Serological Testing Market
10.1.6.2.1 Mexico Serological Testing Market by Test Type
10.1.6.2.2 Mexico Serological Testing Market by Application
10.1.6.2.3 Mexico Serological Testing Market by End Users
10.1.6.3 US Serological Testing Market
10.1.6.3.1 US Serological Testing Market by Test Type
10.1.6.3.2 US Serological Testing Market by Application
10.1.6.3.3 US Serological Testing Market by End Users
10.2. EUROPE
10.2.1 Europe Serological Testing Market Overview
10.2.2 Europe Serological Testing Market Forecasts and Analysis
10.2.3 Europe Serological Testing Market Forecasts and Analysis - By Test Type
10.2.4 Europe Serological Testing Market Forecasts and Analysis - By Application
10.2.5 Europe Serological Testing Market Forecasts and Analysis - By End Users
10.2.6 Europe Serological Testing Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Serological Testing Market
10.2.6.1.1 Germany Serological Testing Market by Test Type
10.2.6.1.2 Germany Serological Testing Market by Application
10.2.6.1.3 Germany Serological Testing Market by End Users
10.2.6.2 France Serological Testing Market
10.2.6.2.1 France Serological Testing Market by Test Type
10.2.6.2.2 France Serological Testing Market by Application
10.2.6.2.3 France Serological Testing Market by End Users
10.2.6.3 Italy Serological Testing Market
10.2.6.3.1 Italy Serological Testing Market by Test Type
10.2.6.3.2 Italy Serological Testing Market by Application
10.2.6.3.3 Italy Serological Testing Market by End Users
10.2.6.4 Spain Serological Testing Market
10.2.6.4.1 Spain Serological Testing Market by Test Type
10.2.6.4.2 Spain Serological Testing Market by Application
10.2.6.4.3 Spain Serological Testing Market by End Users
10.2.6.5 United Kingdom Serological Testing Market
10.2.6.5.1 United Kingdom Serological Testing Market by Test Type
10.2.6.5.2 United Kingdom Serological Testing Market by Application
10.2.6.5.3 United Kingdom Serological Testing Market by End Users
10.2.6.6 Rest of Europe Serological Testing Market
10.2.6.6.1 Rest of Europe Serological Testing Market by Test Type
10.2.6.6.2 Rest of Europe Serological Testing Market by Application
10.2.6.6.3 Rest of Europe Serological Testing Market by End Users
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Serological Testing Market Overview
10.3.2 Asia-Pacific Serological Testing Market Forecasts and Analysis
10.3.3 Asia-Pacific Serological Testing Market Forecasts and Analysis - By Test Type
10.3.4 Asia-Pacific Serological Testing Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Serological Testing Market Forecasts and Analysis - By End Users
10.3.6 Asia-Pacific Serological Testing Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Serological Testing Market
10.3.6.1.1 Australia Serological Testing Market by Test Type
10.3.6.1.2 Australia Serological Testing Market by Application
10.3.6.1.3 Australia Serological Testing Market by End Users
10.3.6.2 China Serological Testing Market
10.3.6.2.1 China Serological Testing Market by Test Type
10.3.6.2.2 China Serological Testing Market by Application
10.3.6.2.3 China Serological Testing Market by End Users
10.3.6.3 India Serological Testing Market
10.3.6.3.1 India Serological Testing Market by Test Type
10.3.6.3.2 India Serological Testing Market by Application
10.3.6.3.3 India Serological Testing Market by End Users
10.3.6.4 Japan Serological Testing Market
10.3.6.4.1 Japan Serological Testing Market by Test Type
10.3.6.4.2 Japan Serological Testing Market by Application
10.3.6.4.3 Japan Serological Testing Market by End Users
10.3.6.5 South Korea Serological Testing Market
10.3.6.5.1 South Korea Serological Testing Market by Test Type
10.3.6.5.2 South Korea Serological Testing Market by Application
10.3.6.5.3 South Korea Serological Testing Market by End Users
10.3.6.6 Rest of Asia-Pacific Serological Testing Market
10.3.6.6.1 Rest of Asia-Pacific Serological Testing Market by Test Type
10.3.6.6.2 Rest of Asia-Pacific Serological Testing Market by Application
10.3.6.6.3 Rest of Asia-Pacific Serological Testing Market by End Users
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Serological Testing Market Overview
10.4.2 Middle East and Africa Serological Testing Market Forecasts and Analysis
10.4.3 Middle East and Africa Serological Testing Market Forecasts and Analysis - By Test Type
10.4.4 Middle East and Africa Serological Testing Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Serological Testing Market Forecasts and Analysis - By End Users
10.4.6 Middle East and Africa Serological Testing Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Serological Testing Market
10.4.6.1.1 South Africa Serological Testing Market by Test Type
10.4.6.1.2 South Africa Serological Testing Market by Application
10.4.6.1.3 South Africa Serological Testing Market by End Users
10.4.6.2 Saudi Arabia Serological Testing Market
10.4.6.2.1 Saudi Arabia Serological Testing Market by Test Type
10.4.6.2.2 Saudi Arabia Serological Testing Market by Application
10.4.6.2.3 Saudi Arabia Serological Testing Market by End Users
10.4.6.3 U.A.E Serological Testing Market
10.4.6.3.1 U.A.E Serological Testing Market by Test Type
10.4.6.3.2 U.A.E Serological Testing Market by Application
10.4.6.3.3 U.A.E Serological Testing Market by End Users
10.4.6.4 Rest of Middle East and Africa Serological Testing Market
10.4.6.4.1 Rest of Middle East and Africa Serological Testing Market by Test Type
10.4.6.4.2 Rest of Middle East and Africa Serological Testing Market by Application
10.4.6.4.3 Rest of Middle East and Africa Serological Testing Market by End Users
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Serological Testing Market Overview
10.5.2 South and Central America Serological Testing Market Forecasts and Analysis
10.5.3 South and Central America Serological Testing Market Forecasts and Analysis - By Test Type
10.5.4 South and Central America Serological Testing Market Forecasts and Analysis - By Application
10.5.5 South and Central America Serological Testing Market Forecasts and Analysis - By End Users
10.5.6 South and Central America Serological Testing Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Serological Testing Market
10.5.6.1.1 Brazil Serological Testing Market by Test Type
10.5.6.1.2 Brazil Serological Testing Market by Application
10.5.6.1.3 Brazil Serological Testing Market by End Users
10.5.6.2 Argentina Serological Testing Market
10.5.6.2.1 Argentina Serological Testing Market by Test Type
10.5.6.2.2 Argentina Serological Testing Market by Application
10.5.6.2.3 Argentina Serological Testing Market by End Users
10.5.6.3 Rest of South and Central America Serological Testing Market
10.5.6.3.1 Rest of South and Central America Serological Testing Market by Test Type
10.5.6.3.2 Rest of South and Central America Serological Testing Market by Application
10.5.6.3.3 Rest of South and Central America Serological Testing Market by End Users
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. SEROLOGICAL TESTING MARKET, KEY COMPANY PROFILES
12.1. SEROLOGICAL RESEARCH INSTITUTE (SERI)
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. 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. F. HOFFMANN LA-ROCHE LTD
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. THERMO FISHER SCIENTIFIC, 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. RANDOX LABORATORIES LTD
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. BECKMAN COULTER, 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. CREATIVE DIAGNOSTICS
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. ELITECHGROUP
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. QUEST DIAGNOSTICS
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
- Serological Research Institute (SERI)
- Abbott
- BD
- F. Hoffmann La-Roche Ltd
- Thermo Fisher Scientific, Inc.
- Randox Laboratories Ltd
- Beckman Coulter, Inc.
- Creative Diagnostics
- ELITechGroup
- Quest Diagnostics
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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