The Laboratory Filtration Market is expected to register a CAGR of 8.5% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Product (Filtration Assembly, Filter Media Accessories). The report further presents analysis based on the Technology (Ultrafiltration, Microfiltration, Nanofiltration, RO). The report is segmented by End User (Pharmaceutical, Biopharmaceutical Company, Food and Beverage). 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 Laboratory Filtration 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.
Laboratory Filtration Market Segmentation
Product- Filtration Assembly
- Filter Media Accessories
- Ultrafiltration
- Microfiltration
- Nanofiltration
- RO
- Pharmaceutical
- Biopharmaceutical Company
- Food and Beverage
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Laboratory Filtration Market Growth Drivers- Growing Research and Development Activities: The biggest driver in the laboratory filtration market has been the growing R&D activities in all fields, especially in the pharmaceutical, biotech, and environmental science sectors. Effective filtration processes will be a prime necessity for organizations seeking innovation and quality improvement. For the removal of impurities, purification of samples, and satisfying compliance and regulatory standards, this process is considered crucial in a research environment. There is sometimes the growing need for high-quality filtration with stricter conditions for ensuring the drugs are safe and effective.
- Stringent Regulatory Requirements: Organizations such as the FDA and the EMA require quality and safety control that is highly regulatory on industries like pharmaceuticals and food and beverage. The regulations require sophisticated filtration techniques to be developed in accordance with the standards required. The laboratories are therefore investing in superior filtration technology so that their process is compliant with these regulations. The growth of the market has been attributed to increased laboratory filtration equipment usage, including membranes, filters, and associated accessories.
- Technological Advancements: In the laboratory filtration market, there are rapid technological developments to increase the efficiency and effectiveness of filtration processes. The nanofiltration, ultrafiltration, and microfiltration areas experience continuous development towards improved filtration capabilities of smaller particles and contaminants. Additionally, automated filtration systems improve the effectiveness in laboratory workflow and reduce labor input while increasing throughput. Such technological developments will make the filtration process more accessible and efficient, further developing the market.
- Expansion in Emerging Markets: Some of the key growth opportunities that arise come from emerging economies, particularly in Asia-Pacific, Latin America, and the Middle East. Increasing healthcare investment in pharmaceuticals and in building research infrastructure will give companies a chance to expand their demand for laboratory filtration solutions.
- Focus on Sustainable Filtration Solutions: There is growing pressure towards sustainability and environmental protection, thus opening up the gates for environment-friendly filtration products to enter the market. Biodegradable material and low energy expenditure in filtration systems is picking up. Companies taking pains to offer 'green' products attract consumers as well as organizations sensitive to concerns related to the environment. This trend finds wider scope in terms of market potential, with an expansion in laboratory requirements for water purification and waste management solutions.
- Integration of IoT and Smart Technologies: Infusing IoT technology into the laboratory filtration system is an entirely new ball game because it offers vast possibilities for innovation. Such smart filtration devices may log parameters in real time for optimization and troubleshooting. That connectivity makes the working of a lab very efficient and helps them achieve better compliance to regulatory standards. As laboratories increase these smart technologies, it will only give companies that offer connected filtration solutions a comparative advantage.
- Increase in Personalized Medicine: Laboratory filtration is influenced by the trend of personalized medicine, especially in the pharmaceutical and biotechnology sectors. Advanced customized treatments have the highest demands for filtering precision to provide pure and consistent products. There is an increased utilization of filtration technologies in laboratories to gear treatments toward unique patient profiles; therefore, laboratories need highly advanced filtration systems.
- Rise of Automation in Laboratories: Automation is now changing the face of laboratory operations, from filtration. As the trend continues towards more automated systems, the chances of error and contamination through manual handling are minimized, the reproducibility increases, and throughput automatically increases. Automated filtration systems therefore suit high-throughput laboratories where numerous samples could be handled with minimal intervention. The acceptance rate for the adoption of automated filtration solutions would increase as the laboratory strives for maximum efficiency through the reduction in labor costs.
- Shift Towards Point-of-Use Filtration: Laboratory water purification and preparation of samples have changed toward point-of-use filtration systems. Such systems offer quick access to purified water and other solutions exactly where they are needed, thus avoiding dependence on central filtration units. This may be particularly important when space in laboratories is at a premium or when rapid access to filtered solutions is required for the activity of research. Point-of-use systems are gaining significance and thus manufacturers may focus on developing more compact and efficient filtration solutions as the demand for this type of equipment is bound to increase.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Laboratory Filtration 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 Laboratory Filtration 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
Filter Media Accessories segment, by product, dominated the market in 2023.
The Laboratory Filtration Market is estimated to witness a CAGR of 8.5% from 2023 to 2031
The major factors driving the Laboratory Filtration market are:
1. Growing Research and Development Activities
2.Technological Advancements
Focus on Sustainable Filtration Solutions act as a opportunity for growth of the market in forecast period.
North America region dominated the Laboratory Filtration market in 2023.
Players operating in the market are 3M, Agilent Technologies, Inc, AMD Manufacturing, Inc, AQUAPORIN A/S, Avantor, Inc, Cole-Parmer, Danaher Corporation, GVS S.p.A, MACHEREY-NAGEL GmbH & Co. KG, Merck Millipore
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Laboratory Filtration Market - By Product
1.3.2 Laboratory Filtration Market - By Technology
1.3.3 Laboratory Filtration Market - By End User
1.3.4 Laboratory Filtration Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. LABORATORY FILTRATION 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. LABORATORY FILTRATION MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. LABORATORY FILTRATION MARKET - GLOBAL MARKET ANALYSIS
6.1. LABORATORY FILTRATION - GLOBAL MARKET OVERVIEW
6.2. LABORATORY FILTRATION - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. LABORATORY FILTRATION MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. FILTRATION ASSEMBLY
7.3.1. Overview
7.3.2. Filtration Assembly Market Forecast and Analysis
7.4. FILTER MEDIA ACCESSORIES
7.4.1. Overview
7.4.2. Filter Media Accessories Market Forecast and Analysis
8. LABORATORY FILTRATION MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. ULTRAFILTRATION
8.3.1. Overview
8.3.2. Ultrafiltration Market Forecast and Analysis
8.4. MICROFILTRATION
8.4.1. Overview
8.4.2. Microfiltration Market Forecast and Analysis
8.5. NANOFILTRATION
8.5.1. Overview
8.5.2. Nanofiltration Market Forecast and Analysis
8.6. RO
8.6.1. Overview
8.6.2. RO Market Forecast and Analysis
9. LABORATORY FILTRATION MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. PHARMACEUTICAL
9.3.1. Overview
9.3.2. Pharmaceutical Market Forecast and Analysis
9.4. BIOPHARMACEUTICAL COMPANY
9.4.1. Overview
9.4.2. Biopharmaceutical Company Market Forecast and Analysis
9.5. FOOD AND BEVERAGE
9.5.1. Overview
9.5.2. Food and Beverage Market Forecast and Analysis
10. LABORATORY FILTRATION MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Laboratory Filtration Market Overview
10.1.2 North America Laboratory Filtration Market Forecasts and Analysis
10.1.3 North America Laboratory Filtration Market Forecasts and Analysis - By Product
10.1.4 North America Laboratory Filtration Market Forecasts and Analysis - By Technology
10.1.5 North America Laboratory Filtration Market Forecasts and Analysis - By End User
10.1.6 North America Laboratory Filtration Market Forecasts and Analysis - By Countries
10.1.6.1 United States Laboratory Filtration Market
10.1.6.1.1 United States Laboratory Filtration Market by Product
10.1.6.1.2 United States Laboratory Filtration Market by Technology
10.1.6.1.3 United States Laboratory Filtration Market by End User
10.1.6.2 Canada Laboratory Filtration Market
10.1.6.2.1 Canada Laboratory Filtration Market by Product
10.1.6.2.2 Canada Laboratory Filtration Market by Technology
10.1.6.2.3 Canada Laboratory Filtration Market by End User
10.1.6.3 Mexico Laboratory Filtration Market
10.1.6.3.1 Mexico Laboratory Filtration Market by Product
10.1.6.3.2 Mexico Laboratory Filtration Market by Technology
10.1.6.3.3 Mexico Laboratory Filtration Market by End User
10.2. EUROPE
10.2.1 Europe Laboratory Filtration Market Overview
10.2.2 Europe Laboratory Filtration Market Forecasts and Analysis
10.2.3 Europe Laboratory Filtration Market Forecasts and Analysis - By Product
10.2.4 Europe Laboratory Filtration Market Forecasts and Analysis - By Technology
10.2.5 Europe Laboratory Filtration Market Forecasts and Analysis - By End User
10.2.6 Europe Laboratory Filtration Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Laboratory Filtration Market
10.2.6.1.1 Germany Laboratory Filtration Market by Product
10.2.6.1.2 Germany Laboratory Filtration Market by Technology
10.2.6.1.3 Germany Laboratory Filtration Market by End User
10.2.6.2 France Laboratory Filtration Market
10.2.6.2.1 France Laboratory Filtration Market by Product
10.2.6.2.2 France Laboratory Filtration Market by Technology
10.2.6.2.3 France Laboratory Filtration Market by End User
10.2.6.3 Italy Laboratory Filtration Market
10.2.6.3.1 Italy Laboratory Filtration Market by Product
10.2.6.3.2 Italy Laboratory Filtration Market by Technology
10.2.6.3.3 Italy Laboratory Filtration Market by End User
10.2.6.4 Spain Laboratory Filtration Market
10.2.6.4.1 Spain Laboratory Filtration Market by Product
10.2.6.4.2 Spain Laboratory Filtration Market by Technology
10.2.6.4.3 Spain Laboratory Filtration Market by End User
10.2.6.5 United Kingdom Laboratory Filtration Market
10.2.6.5.1 United Kingdom Laboratory Filtration Market by Product
10.2.6.5.2 United Kingdom Laboratory Filtration Market by Technology
10.2.6.5.3 United Kingdom Laboratory Filtration Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Laboratory Filtration Market Overview
10.3.2 Asia-Pacific Laboratory Filtration Market Forecasts and Analysis
10.3.3 Asia-Pacific Laboratory Filtration Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Laboratory Filtration Market Forecasts and Analysis - By Technology
10.3.5 Asia-Pacific Laboratory Filtration Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Laboratory Filtration Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Laboratory Filtration Market
10.3.6.1.1 Australia Laboratory Filtration Market by Product
10.3.6.1.2 Australia Laboratory Filtration Market by Technology
10.3.6.1.3 Australia Laboratory Filtration Market by End User
10.3.6.2 China Laboratory Filtration Market
10.3.6.2.1 China Laboratory Filtration Market by Product
10.3.6.2.2 China Laboratory Filtration Market by Technology
10.3.6.2.3 China Laboratory Filtration Market by End User
10.3.6.3 India Laboratory Filtration Market
10.3.6.3.1 India Laboratory Filtration Market by Product
10.3.6.3.2 India Laboratory Filtration Market by Technology
10.3.6.3.3 India Laboratory Filtration Market by End User
10.3.6.4 Japan Laboratory Filtration Market
10.3.6.4.1 Japan Laboratory Filtration Market by Product
10.3.6.4.2 Japan Laboratory Filtration Market by Technology
10.3.6.4.3 Japan Laboratory Filtration Market by End User
10.3.6.5 South Korea Laboratory Filtration Market
10.3.6.5.1 South Korea Laboratory Filtration Market by Product
10.3.6.5.2 South Korea Laboratory Filtration Market by Technology
10.3.6.5.3 South Korea Laboratory Filtration Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Laboratory Filtration Market Overview
10.4.2 Middle East and Africa Laboratory Filtration Market Forecasts and Analysis
10.4.3 Middle East and Africa Laboratory Filtration Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Laboratory Filtration Market Forecasts and Analysis - By Technology
10.4.5 Middle East and Africa Laboratory Filtration Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Laboratory Filtration Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Laboratory Filtration Market
10.4.6.1.1 South Africa Laboratory Filtration Market by Product
10.4.6.1.2 South Africa Laboratory Filtration Market by Technology
10.4.6.1.3 South Africa Laboratory Filtration Market by End User
10.4.6.2 Saudi Arabia Laboratory Filtration Market
10.4.6.2.1 Saudi Arabia Laboratory Filtration Market by Product
10.4.6.2.2 Saudi Arabia Laboratory Filtration Market by Technology
10.4.6.2.3 Saudi Arabia Laboratory Filtration Market by End User
10.4.6.3 U.A.E Laboratory Filtration Market
10.4.6.3.1 U.A.E Laboratory Filtration Market by Product
10.4.6.3.2 U.A.E Laboratory Filtration Market by Technology
10.4.6.3.3 U.A.E Laboratory Filtration Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Laboratory Filtration Market Overview
10.5.2 South and Central America Laboratory Filtration Market Forecasts and Analysis
10.5.3 South and Central America Laboratory Filtration Market Forecasts and Analysis - By Product
10.5.4 South and Central America Laboratory Filtration Market Forecasts and Analysis - By Technology
10.5.5 South and Central America Laboratory Filtration Market Forecasts and Analysis - By End User
10.5.6 South and Central America Laboratory Filtration Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Laboratory Filtration Market
10.5.6.1.1 Brazil Laboratory Filtration Market by Product
10.5.6.1.2 Brazil Laboratory Filtration Market by Technology
10.5.6.1.3 Brazil Laboratory Filtration Market by End User
10.5.6.2 Argentina Laboratory Filtration Market
10.5.6.2.1 Argentina Laboratory Filtration Market by Product
10.5.6.2.2 Argentina Laboratory Filtration Market by Technology
10.5.6.2.3 Argentina Laboratory Filtration Market by End User
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. LABORATORY FILTRATION MARKET, KEY COMPANY PROFILES
12.1. 3M
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. AGILENT TECHNOLOGIES, INC
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. AMD MANUFACTURING, INC
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. AQUAPORIN A/S
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. AVANTOR, 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. COLE-PARMER
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. DANAHER CORPORATION
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. GVS S.P.A
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. MACHEREY-NAGEL GMBH AND CO. KG
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. MERCK MILLIPORE
12.10.1. Key Facts
12.10.2. Business Description
12.10.3. Products and Services
12.10.4. Financial Overview
12.10.5. SWOT Analysis
12.10.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. 3M
2. Agilent Technologies, Inc
3. AMD Manufacturing, Inc
4. AQUAPORIN A/S
5. Avantor, Inc
6. Cole-Parmer
7. Danaher Corporation
8. GVS S.p.A
9. MACHEREY-NAGEL GmbH & Co. KG
10. Merck Millipore
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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