Clinical laboratories play a crucial role in the healthcare industry. These clinical laboratories do all diagnostic tests, ranging from blood tests to genetic analysis, to diagnose various disorders. Clinical laboratories provide information and services that help to maximise the necessary delivery of diagnostics and test results in the healthcare system. Through various levels of healthcare resources, it ensures and gives proper and reliable test results, allowing physicians to make the best therapeutic and diagnostic decisions possible. It assists professionals in initiating, adjusting, and terminating a course of treatment, which would be impossible without clinical laboratory services.
MARKET SCOPE
The "Global Clinical Laboratory Services Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the clinical laboratory services market with detailed market segmentation by test type and service provider. The report provides key statistics on the market status of the leading clinical laboratory services market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on test type the market is segmented as, clibical chemistry tests, human and tumor genetic tests, medical microbiology and cytology tests and other esoteric tests.
- Based on service provider the market is segmenetd as, hospital-based laboratories, stand-alone laboratories and clinic-based laboratories.
MARKET DYNAMICS
Drivers:
- Growing prevalence of chronic disorders such as cancer, diabetes and other infectious disease is the key driving factor for the market growth.
- Increasing demand about the early diagnosis of disease which enables better disease understanding and treatment outlook.
- Growing pulic and private investments on funding for research and diagnostic laboratories.
- Technological advancements in clinical diagnostic techniques and laboratories.
Restraints:
- However, issues such as dearth of skilled professionals, uncertain regulatory framework are likely to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The clinical laboratory services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the clinical laboratory services market in these regions.
IMPACT OF COVID-19ON CLINICAL LABORATORY SERVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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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
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The clinical laboratory services market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the clinical laboratory services market in these regions.
IMPACT OF COVID-19ON CLINICAL LABORATORY SERVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the clinical laboratory services market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from clinical laboratory services market are anticipated to lucrative growth opportunities in the future with the rising demand for clinical laboratory services in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the clinical laboratory services market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Laboratory Corporation of America Holdings
- UNILABS
- Quest Diagnostics Incorporated
- BioReference Laboratories
- Sonic Healthcare Limited
- Eurofins Scientific
- Charles River Laboratories
- Abbott
- Randox Laboratories Ltd
- NeoGenomics Laboratories
- 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
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Clinical Laboratory Services Market - By Test Type
1.3.2 Clinical Laboratory Services Market - By Service Provider
1.3.3 Clinical Laboratory Services Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CLINICAL LABORATORY SERVICES 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. CLINICAL LABORATORY 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. CLINICAL LABORATORY SERVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. CLINICAL LABORATORY SERVICES - GLOBAL MARKET OVERVIEW
6.2. CLINICAL LABORATORY SERVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CLINICAL LABORATORY SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - TEST TYPE
7.1. OVERVIEW
7.2. TEST TYPE MARKET FORECASTS AND ANALYSIS
7.3. CLINICAL CHEMISTRY TESTS
7.3.1. Overview
7.3.2. Clinical chemistry tests Market Forecast and Analysis
7.4. HUMAN AND TUMOR GENETICS TESTS
7.4.1. Overview
7.4.2. Human and tumor genetics tests Market Forecast and Analysis
7.5. MEDICAL MICROBIOLOGY AND CYTOLOGY TESTS
7.5.1. Overview
7.5.2. Medical microbiology and cytology tests Market Forecast and Analysis
7.6. OTHER ESOTERIC TESTS
7.6.1. Overview
7.6.2. Other esoteric tests Market Forecast and Analysis
8. CLINICAL LABORATORY SERVICES MARKET - REVENUE AND FORECASTS TO 2028 - SERVICE PROVIDER
8.1. OVERVIEW
8.2. SERVICE PROVIDER MARKET FORECASTS AND ANALYSIS
8.3. HOSPITAL-BASED LABORATORIES
8.3.1. Overview
8.3.2. Hospital-based laboratories Market Forecast and Analysis
8.4. STAND-ALONE LABORATORIES
8.4.1. Overview
8.4.2. Stand-alone laboratories Market Forecast and Analysis
8.5. CLINIC-BASED LABORATORIES
8.5.1. Overview
8.5.2. Clinic-based laboratories Market Forecast and Analysis
9. CLINICAL LABORATORY SERVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Clinical Laboratory Services Market Overview
9.1.2 North America Clinical Laboratory Services Market Forecasts and Analysis
9.1.3 North America Clinical Laboratory Services Market Forecasts and Analysis - By Test Type
9.1.4 North America Clinical Laboratory Services Market Forecasts and Analysis - By Service Provider
9.1.5 North America Clinical Laboratory Services Market Forecasts and Analysis - By Countries
9.1.5.1 United States Clinical Laboratory Services Market
9.1.5.1.1 United States Clinical Laboratory Services Market by Test Type
9.1.5.1.2 United States Clinical Laboratory Services Market by Service Provider
9.1.5.2 Canada Clinical Laboratory Services Market
9.1.5.2.1 Canada Clinical Laboratory Services Market by Test Type
9.1.5.2.2 Canada Clinical Laboratory Services Market by Service Provider
9.1.5.3 Mexico Clinical Laboratory Services Market
9.1.5.3.1 Mexico Clinical Laboratory Services Market by Test Type
9.1.5.3.2 Mexico Clinical Laboratory Services Market by Service Provider
9.2. EUROPE
9.2.1 Europe Clinical Laboratory Services Market Overview
9.2.2 Europe Clinical Laboratory Services Market Forecasts and Analysis
9.2.3 Europe Clinical Laboratory Services Market Forecasts and Analysis - By Test Type
9.2.4 Europe Clinical Laboratory Services Market Forecasts and Analysis - By Service Provider
9.2.5 Europe Clinical Laboratory Services Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Clinical Laboratory Services Market
9.2.5.1.1 Germany Clinical Laboratory Services Market by Test Type
9.2.5.1.2 Germany Clinical Laboratory Services Market by Service Provider
9.2.5.2 France Clinical Laboratory Services Market
9.2.5.2.1 France Clinical Laboratory Services Market by Test Type
9.2.5.2.2 France Clinical Laboratory Services Market by Service Provider
9.2.5.3 Italy Clinical Laboratory Services Market
9.2.5.3.1 Italy Clinical Laboratory Services Market by Test Type
9.2.5.3.2 Italy Clinical Laboratory Services Market by Service Provider
9.2.5.4 Spain Clinical Laboratory Services Market
9.2.5.4.1 Spain Clinical Laboratory Services Market by Test Type
9.2.5.4.2 Spain Clinical Laboratory Services Market by Service Provider
9.2.5.5 United Kingdom Clinical Laboratory Services Market
9.2.5.5.1 United Kingdom Clinical Laboratory Services Market by Test Type
9.2.5.5.2 United Kingdom Clinical Laboratory Services Market by Service Provider
9.2.5.6 Rest of Europe Clinical Laboratory Services Market
9.2.5.6.1 Rest of Europe Clinical Laboratory Services Market by Test Type
9.2.5.6.2 Rest of Europe Clinical Laboratory Services Market by Service Provider
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Clinical Laboratory Services Market Overview
9.3.2 Asia-Pacific Clinical Laboratory Services Market Forecasts and Analysis
9.3.3 Asia-Pacific Clinical Laboratory Services Market Forecasts and Analysis - By Test Type
9.3.4 Asia-Pacific Clinical Laboratory Services Market Forecasts and Analysis - By Service Provider
9.3.5 Asia-Pacific Clinical Laboratory Services Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Clinical Laboratory Services Market
9.3.5.1.1 Australia Clinical Laboratory Services Market by Test Type
9.3.5.1.2 Australia Clinical Laboratory Services Market by Service Provider
9.3.5.2 China Clinical Laboratory Services Market
9.3.5.2.1 China Clinical Laboratory Services Market by Test Type
9.3.5.2.2 China Clinical Laboratory Services Market by Service Provider
9.3.5.3 India Clinical Laboratory Services Market
9.3.5.3.1 India Clinical Laboratory Services Market by Test Type
9.3.5.3.2 India Clinical Laboratory Services Market by Service Provider
9.3.5.4 Japan Clinical Laboratory Services Market
9.3.5.4.1 Japan Clinical Laboratory Services Market by Test Type
9.3.5.4.2 Japan Clinical Laboratory Services Market by Service Provider
9.3.5.5 South Korea Clinical Laboratory Services Market
9.3.5.5.1 South Korea Clinical Laboratory Services Market by Test Type
9.3.5.5.2 South Korea Clinical Laboratory Services Market by Service Provider
9.3.5.6 Rest of Asia-Pacific Clinical Laboratory Services Market
9.3.5.6.1 Rest of Asia-Pacific Clinical Laboratory Services Market by Test Type
9.3.5.6.2 Rest of Asia-Pacific Clinical Laboratory Services Market by Service Provider
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Clinical Laboratory Services Market Overview
9.4.2 Middle East and Africa Clinical Laboratory Services Market Forecasts and Analysis
9.4.3 Middle East and Africa Clinical Laboratory Services Market Forecasts and Analysis - By Test Type
9.4.4 Middle East and Africa Clinical Laboratory Services Market Forecasts and Analysis - By Service Provider
9.4.5 Middle East and Africa Clinical Laboratory Services Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Clinical Laboratory Services Market
9.4.5.1.1 South Africa Clinical Laboratory Services Market by Test Type
9.4.5.1.2 South Africa Clinical Laboratory Services Market by Service Provider
9.4.5.2 Saudi Arabia Clinical Laboratory Services Market
9.4.5.2.1 Saudi Arabia Clinical Laboratory Services Market by Test Type
9.4.5.2.2 Saudi Arabia Clinical Laboratory Services Market by Service Provider
9.4.5.3 U.A.E Clinical Laboratory Services Market
9.4.5.3.1 U.A.E Clinical Laboratory Services Market by Test Type
9.4.5.3.2 U.A.E Clinical Laboratory Services Market by Service Provider
9.4.5.4 Rest of Middle East and Africa Clinical Laboratory Services Market
9.4.5.4.1 Rest of Middle East and Africa Clinical Laboratory Services Market by Test Type
9.4.5.4.2 Rest of Middle East and Africa Clinical Laboratory Services Market by Service Provider
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Clinical Laboratory Services Market Overview
9.5.2 South and Central America Clinical Laboratory Services Market Forecasts and Analysis
9.5.3 South and Central America Clinical Laboratory Services Market Forecasts and Analysis - By Test Type
9.5.4 South and Central America Clinical Laboratory Services Market Forecasts and Analysis - By Service Provider
9.5.5 South and Central America Clinical Laboratory Services Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Clinical Laboratory Services Market
9.5.5.1.1 Brazil Clinical Laboratory Services Market by Test Type
9.5.5.1.2 Brazil Clinical Laboratory Services Market by Service Provider
9.5.5.2 Argentina Clinical Laboratory Services Market
9.5.5.2.1 Argentina Clinical Laboratory Services Market by Test Type
9.5.5.2.2 Argentina Clinical Laboratory Services Market by Service Provider
9.5.5.3 Rest of South and Central America Clinical Laboratory Services Market
9.5.5.3.1 Rest of South and Central America Clinical Laboratory Services Market by Test Type
9.5.5.3.2 Rest of South and Central America Clinical Laboratory Services Market by Service Provider
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. CLINICAL LABORATORY SERVICES MARKET, KEY COMPANY PROFILES
11.1. LABORATORY CORPORATION OF AMERICA HOLDINGS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. UNILABS
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. QUEST DIAGNOSTICS INCORPORATED
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BIOREFERENCE LABORATORIES
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. SONIC HEALTHCARE LIMITED
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. EUROFINS SCIENTIFIC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. CHARLES RIVER LABORATORIES
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ABBOTT
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. RANDOX LABORATORIES LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. NEOGENOMICS LABORATORIES
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Laboratory Corporation of America Holdings
2. UNILABS
3. Quest Diagnostics Incorporated
4. BioReference Laboratories
5. Sonic Healthcare Limited
6. Eurofins Scientific
7. Charles River Laboratories
8. Abbott
9. Randox Laboratories Ltd
10. NeoGenomics Laboratories
11. Clinical Reference Laboratory, Inc.
12. ACM Global Laboratories.
13. Cerba Healthcare
14. Lifelabs Medical Laboratories
15. NeoGenomics Laboratories, 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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