The IVD contract research organization market is projected to reach US$ 8,019.53 million by 2028 from US$ 4,738.79 million in 2021; it is estimated to grow at a CAGR of 7.8% from 2021 to 2028.
IVD contract research organizations provide support services to the biotechnology companies throughout the development and commercialization of the product. Diagnostic instruments/equipment companies require various regulatory and testing services to implement product lifecycle. CROs are specifically designed to perform these services to reduce the in-house cost and time of the companies. The continuous development in healthcare facilities and IVD products and new products launches propel the growth of the market. Also, rising demand for technological advancements and biomarker-based IVD owing to several advantages offered by them promotes the growth of the market.
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IVD Contract Research Organization Market: Strategic Insights
Market Size Value in US$ 4,738.79 Million in 2021 Market Size Value by US$ 8,019.53 Million by 2028 Growth rate CAGR of 7.8% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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IVD Contract Research Organization Market: Strategic Insights
| Market Size Value in | US$ 4,738.79 Million in 2021 |
| Market Size Value by | US$ 8,019.53 Million by 2028 |
| Growth rate | CAGR of 7.8% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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The IVD contract research organization market is segmented on the basis of type, services, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The market report offers insights and in-depth analysis of the market, emphasizing parameters such as market trends, technological advancements, market dynamics, and the competitive analysis of the globally leading market players.
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Market Insights
New Product Launches by Market Players to Drive IVD Contract Research Organization Market during Forecast Period
New Product Launches by Market Players to Drive IVD Contract Research Organization Market during Forecast Period
The rising demand for in-vitro diagnostics is due to the increasing prevalence of various diseases, such as cancer, autoimmune disorders, and bacterial infections. Thus, the demand for effective and advanced in-vitro diagnostics to detect diseases that help treat and monitor patients’ conditions has increased. Various market players focus on offering better in-vitro diagnostics products to fulfill the market demand, which led to the increase in IVD product launches. This has created the demand for IVD clinical research organizations for preclinical studies to ensure the effectiveness and accuracy of products, thus driving the growth of the IVD contract research organization market.
Following are a few examples of companies that launched new IVD products and developments:
- In February 2022, Invitae announced the availability of FusionPlex Dx and LiquidPlex Dx in Europe. It provides the highest quality CE-IVD products to enable European pathologists and oncologists to efficiently provide vital information on time to guide cancer therapy for patients. It delivers essential high-quality innovation for precision oncology in the fight against cancer.
- In April 2021, Illumina announced the setup of its cancer detection efforts by launching a new in-vitro diagnostic (IVD) test to boost its oncology-focused companion diagnostic (CDx) collaborations. It also plans to launch a new cloud-based bioinformatics data platform.
Such developments by market players are driving the IVD contract research organization market.
Type Insights
Based on type, the global IVD contract research organization market is segmented into clinical chemistry, molecular diagnostics, immunochemistry, companion diagnostics, hematology, histology and cytology, microbiology, and others. In 2021, the clinical chemistry segment held the largest share of the market. Moreover, the hematology segment is expected to register the highest CAGR in the market during 2021–2028. The market growth for the hematology segment is attributed to the increased patient awareness, patient self-testing, a rapidly ageing global population, and automated testing due to technological advancements. Also, the rising demand for IVD would propel the growth of the market in the coming years.
IVD Contract Research Organization Market, by Type – 2021 and 2028
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Services Insights
Based on services, the global IVD contract research organization market is segmented into clinical research, biostatistics and data management services, therapeutic expertise, regulatory services, reimbursement support services, assay development services, and others. In 2021, the biostatistics and data management services segment held the largest market share. However, the reimbursement support services segment is expected to register the highest CAGR during 2021–2028. The market growth for the biostatistics and data management services segment is attributed to the increase in clinical trials, basic scientific studies, and population-based research, as well as their design, conduct, analysis, and interpretation. Clinical research data management tools assist with all parts of the study, from set-up to implementation and submission. Whether clinical data management services are required as a stand-alone service, as part of a complete-service offering, or as full functional outsourcing, service providers tailored clinical data management services to match the needs. Thus, all these factors drive the growth of the IVD contract research organization market.
Product launches and collaborations are highly adopted strategies by the global IVD contract research organization market players. A few of the recent key market developments are listed below:
- In March 2022, NAMSA, a world leading MedTech Contract Research Organization (CRO) offering global end-to-end development services, announced the acquisition of ÅKRN Scientific Consulting, a prominent European Medical Device CRO based in Madrid, Spain.
- In February 2022, Proxima Clinical Research, a company guiding emerging medical device and pharmaceutical companies from the earliest stages of product development through commercialization, announced that it has been honored with two gold awards and one honorable mention by AVA Digital Awards, an international creative competition honoring creative genius.
- In February 2021, Icon Plc acquired PRA Health Sciences, Inc. Both businesses can provide value to their patients, clients, staff, and shareholders as a result of these acquisitions.
The COVID-19 pandemic has highly impacted IVD contract research organization globally and affected the clinical trials for various products. The constant mutations in the existing novel coronavirus and its severity have been the cause of catastrophic loss of life and impacted the global economy. The COVID-19 pandemic is perplexing healthcare institutions with unprecedented operational and clinical challenges. The pandemic has critically impacted the world, but it has also provided an opportunity for the IVD contract research organization market. The contract research organizations were prioritizing the development of COVID-19 testing kits, treatments, and vaccines, which halted other clinical trials and R&D activities. Furthermore, supportive government initiatives and investments by major market players in the development of IVD-based COVID-19 test kits increased the clinical trials for IVD COVID-19 test kits. Once the pandemic was controlled, the clinical trials for other diagnostics along with COVID-19 test kits and its production is expected to promote the growth of the IVD contract research organization market. However, the COVID-19 pandemic led to the implementation of new practices and approaches with revised regulatory policies for the clinical trials, which is expected to have a moderately positive impact on the IVD contract research organization market in the coming years.
IVD Contract Research Organization– Market Segmentation
The global IVD contract research organization market is segmented on the basis of type, services, and geography. In terms of type, the market is segmented into clinical chemistry, molecular diagnostics, immunochemistry, companion diagnostics, hematology, histology and cytology, microbiology, and others. Based on services, the IVD contract research organization market is segmented into clinical research, biostatistics and data management services, therapeutic expertise, regulatory services, reimbursement support services, assay development services, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.
Company Profiles
- Proxima Clinical Research, Inc.
- Clinexa, ResearchDx
- NAMSA
- Nexelis, a Q² Solutions Company
- ICON PLC
- Toolbox Medical Innovations
- DCN Dx
- CMIC HOLDINGS Co., LTD
- AKRN Scientific Consulting S.L.
- ResearchDx
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Services, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
IVD Contract research organizations provide support services to the biotechnology, companies throughout the development and commercialization of the product. Diagnostic instruments/equipment companies require various regulatory as well as testing services to implement product lifecycle. CROs are specifically designed to perform these services in order to reduce the in-house cost and time of the companies.
Key factors that are driving the growth of this market are increasing demand for in-vitro diagnostics and clinical trials and new product launches by market players are expected to boost the market growth for the IVD contract research organizations over the years.
The CAGR value of the IVD contract research organizations market during the forecasted period of 2021-2028 is 7.8%.
The clinical chemistry segment held the largest share of the market in the global IVD contract research organizations market and held the largest market share of 23.99% in 2021.
The clinical research segment dominated the global IVD contract research organizations market and accounted for the largest market share of 19.21% in 2021.
The IVD contract research organizations market majorly consists of players such as Proxima Clinical Research, Inc.; Clinexa; ResearchDx; NAMSA; Nexelis, a Q² Solutions Company; ICON PLC; Toolbox Medical Innovations; DCN Dx; CMIC HOLDINGS Co., LTD and AKRN Scientific Consulting S.L. amongst others.
NAMSA and Proxima Clinical Research, Inc. are the top two companies that hold huge market shares in the IVD contract research organizations market.
North America IVD Contract Research Organizations market is segmented by country into US, Canada and Mexico. The US holds the largest share of the North American IVD contract research organization market. The growing innovations in the medical devices and diagnostics, increasing R&D activities, presence of well-established marketing hubs and increasing demand for various monitoring and therapeutic medical devices for IVD resulting in introduction of novel products likely to account for the growth of the market in the region.
The pandemic of coronavirus disease 2019 (COVID-19) has increased hospital resource use and necessitated the postponement of non-urgent heart surgical procedures. The market players have witnessed disruption in their business operations, slumped demand for products had marginal negative impact on the IVD contract research organizations market. Hence, the COVID 19 had somewhat negative impact on the IVD contract research organizations market before the introduction of COVID-19 vaccine. However, in the long run, as the vaccination schedule is established and the transmission rate decreases, healthcare systems will return to normal and is expected to experience increased demand for IVD contract research organizations.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global IVD Contract Research Organization Market – By Type
1.3.2 Global IVD Contract Research Organization Market – By Services
1.3.3 Global IVD Contract Research Organization Market – By Geography
2. IVD Contract Research Organization Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global IVD Contract Research Organization Market – 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 & Africa– PEST Analysis
4.2.5 South & Central America– PEST Analysis
4.3 Expert opinion
5. IVD Contract Research Organization Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing demand for In-Vitro Diagnostics and Increase in Clinical Trials
5.1.2 New Product Launches by Market Players
5.2 Market Restraints
5.2.1 Stringent Government Policies and Lack of Skilled Workforce
5.3 Market Opportunities
5.3.1 Increase in Point-of-Care Testing and Potential Opportunities from Developing Economies
5.4 Future Trends
5.4.1 Technological Advancements and Increase in Research & Development Activities
5.5 Impact analysis
6. IVD Contract Research Organization Market – Global Analysis
6.1 Global IVD Contract Research Organization Market Revenue Forecast and Analysis
6.2 Global IVD Contract Research Organization Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. IVD Contract Research Organization Market Analysis – by Type
7.1 Overview
7.2 IVD Contract Research Organization Market Revenue Share, by Type (2021 and 2028)
7.3 Clinical Chemistry
7.3.1 Overview
7.3.2 Clinical Chemistry: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Molecular Diagnostics
7.4.1 Overview
7.4.2 Molecular Diagnostics: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Immunochemistry
7.5.1 Overview
7.5.2 Immunochemistry: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Companion Diagnostics
7.6.1 Overview
7.6.2 Companion Diagnostics: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Hematology
7.7.1 Overview
7.7.2 Hematology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.8 Histology and Cytology
7.8.1 Overview
7.8.2 Histology and Cytology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.9 Microbiology
7.9.1 Overview
7.9.2 Microbiology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
7.10 Others
7.10.1 Overview
7.10.2 Others: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8. IVD Contract Research Organization Market – By Services
8.1 Overview
8.2 IVD Contract Research Organization Market Revenue Share, by Services (2021 and 2028)
8.3 Clinical Research
8.3.1 Overview
8.3.2 Clinical Research: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Biostatistics and Data Management Services
8.4.1 Overview
8.4.2 Biostatistics and Data Management Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Therapeutic Expertise
8.5.1 Overview
8.5.2 Therapeutic Expertise: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Regulatory Services
8.6.1 Overview
8.6.2 Regulatory Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Reimbursement Support Services
8.7.1 Overview
8.7.2 Reimbursement Support Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Assay Development Services
8.8.1 Overview
8.8.2 Assay Development Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9. IVD Contract Research Organization Market – Regional Analysis
9.1 North America: IVD Contract Research Organization Market
9.1.1 Overview
9.1.2 North America: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3 North America: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.1.4 North America: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.1.5 North America: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
9.1.5.1 US: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.1.1 US: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.1.2 US: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.1.5.1.3 US: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.1.5.2 Canada: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.2.1 Canada: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.2.2 Canada: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.1.5.2.3 Canada: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.1.5.3 Mexico: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.3.1 Mexico: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.3.2 Mexico: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.1.5.3.3 Mexico: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2 Europe: IVD Contract Research Organization Market
9.2.1 Overview
9.2.2 Europe: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.3 Europe: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.4 Europe: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5 Europe: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
9.2.5.1 UK: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.1.1 UK: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.1.2 UK: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.1.3 UK: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5.2 Germany: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.2.1 Germany: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.2.2 Germany: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.2.3 Germany: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5.3 France: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.3.1 France: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.3.2 France: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.3.3 France: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5.4 Italy: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.4.1 Italy: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.4.2 Italy: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.4.3 Italy: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5.5 Spain: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.5.1 Spain: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.5.2 Spain: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.5.3 Spain: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.2.5.6 Rest of Europe: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.6.1 Rest of Europe: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.2.5.6.2 Rest of Europe: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.2.5.6.3 Rest of Europe: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3 Asia Pacific: IVD Contract Research Organization Market
9.3.1 Overview
9.3.2 Asia Pacific: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.3 Asia Pacific: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.4 Asia Pacific: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5 Asia Pacific: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
9.3.5.1 China: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.1.1 China: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.1.2 China: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.1.3 China: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5.2 Japan: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.2.1 Japan: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.2.2 Japan: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.2.3 Japan: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5.3 India: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.3.1 India: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.3.2 India: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.3.3 India: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5.4 Australia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.4.1 Australia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.4.2 Australia: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.4.3 Australia: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5.5 South Korea: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.5.1 South Korea: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.5.2 South Korea: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.5.3 South Korea: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.3.5.6 Rest of Asia Pacific: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.6.1 Rest of Asia Pacific: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.3.5.6.2 Rest of Asia Pacific: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.3.5.6.3 Rest of Asia Pacific: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.4 Middle East and Africa: IVD Contract Research Organization Market
9.4.1 Overview
9.4.2 Middle East and Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.3 Middle East and Africa: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.4.4 Middle East and Africa: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.4.5 Middle East and Africa: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
9.4.5.1 UAE: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.1.1 UAE: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.1.2 UAE: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.4.5.1.3 UAE: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.4.5.2 Saudi Arabia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.2.1 Saudi Arabia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.2.2 Saudi Arabia: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.4.5.2.3 Saudi Arabia: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.4.5.3 South Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.3.1 South Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.3.2 South Africa: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.4.5.3.3 South Africa: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.4.5.4 Rest of Middle East and Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.4.1 Rest of Middle East and Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.4.5.4.2 Rest of Middle East and Africa: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.4.5.4.3 Rest of Middle East and Africa: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.5 South and Central America: IVD Contract Research Organization Market
9.5.1 Overview
9.5.2 South and Central America: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.3 South and Central America: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.5.4 South and Central America: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.5.5 South and Central America: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
9.5.5.1 Brazil: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.1.1 Brazil: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.1.2 Brazil: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.5.5.1.3 Brazil: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.5.5.2 Argentina: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.2.1 Argentina: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.2.2 Argentina: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.5.5.2.3 Argentina: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
9.5.5.3 Rest of South and Central America: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.3.1 Rest of SCAM: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
9.5.5.3.2 Rest of SCAM: IVD Contract Research Organization Market, by Type, 2019–2028 (US$ Million)
9.5.5.3.3 Rest of SCAM: IVD Contract Research Organization Market, by Services, 2019–2028 (US$ Million)
10. Impact of COVID-19 Pandemic on Global IVD Contract Research Organization Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment of COVID-19 Pandemic
10.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.5 South & Central America: Impact Assessment of COVID-19 Pandemic
11. IVD Contract Research Organization Market–Industry Landscape
11.1 Overview
11.2 Growth Strategies in the IVD Contract Research Organization Market, 2021-2028
11.3 Inorganic Growth Strategies
11.3.1 Overview
11.4 Organic Growth Strategies
11.4.1 Overview
12. Company Profiles
12.1 Proxima Clinical Research, Inc.
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 Clinexa
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 ResearchDx
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 NAMSA
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 Nexelis, a Q² Solutions Company
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 ICON PLC
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 Toolbox Medical Innovations
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 DCN Dx
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 CMIC HOLDINGS CO., LTD
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 AKRN Scientific Consulting S.L.
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
LIST OF TABLES
Table 1. North America: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 9. Europe: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Europe: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 11. UK: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 13. Germany: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Germany: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 15. France: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. France: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 18. Italy: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 19. Spain: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Spain: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 21. Rest of Europe: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 22. Rest of Europe: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 23. Asia Pacific: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 24. Asia Pacific: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 25. China: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 26. China: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 27. Japan: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 28. Japan: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 29. India: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 30. India: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 31. Australia: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 32. Australia: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 33. South Korea: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 34. South Korea: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Asia Pacific: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 36. Rest of Asia Pacific: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 37. Middle East and Africa: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 38. Middle East and Africa: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 39. UAE: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 40. UAE: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 41. Saudi Arabia: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 42. Saudi Arabia: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 43. South Africa: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 44. South Africa: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 45. Rest of Middle East and Africa: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 46. Rest of Middle East and Africa: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 47. South and Central America: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 48. South and Central America: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 49. Brazil: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 50. Brazil: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 51. Argentina: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 52. Argentina: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 53. Rest of SCAM: IVD Contract Research Organization Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 54. Rest of SCAM: IVD Contract Research Organization Market, by Services – Revenue and Forecast to 2028 (US$ Million)
Table 55. Recent Inorganic Growth Strategies in the IVD Contract Research Organization Market
Table 56. Recent Organic Growth Strategies in the IVD Contract Research Organization Market
Table 57. Glossary of Terms, IVD Contract Research Organization Market
LIST OF FIGURES
Figure 1. IVD Contract Research Organization Market Segmentation
Figure 2. IVD Contract Research Organization Segmentation, By Region
Figure 3. Global IVD Contract Research Organization Market Overview
Figure 4. Clinical Chemistry Segment Held Largest Share by Type Segment in IVD Contract Research Organization Market
Figure 5. Asia Pacific Region is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. Global IVD Contract Research Organization Market, By Geography (US$ Million)
Figure 7. Global IVD CRO Market- Leading Country Markets (US$ Million)
Figure 8. Global IVD Contract Research Organization Market, Industry Landscape
Figure 9. North America PEST Analysis
Figure 10. Europe PEST Analysis
Figure 11. Asia Pacific PEST Analysis
Figure 12. Middle East & Africa PEST Analysis
Figure 13. South & Central America PEST Analysis
Figure 14. Expert Opinion
Figure 15. IVD Contract Research Organization Market Impact Analysis of Driver and Restraints
Figure 16. Global IVD Contract Research Organization Market – Revenue Forecast and Analysis – 2021- 2028
Figure 17. Global IVD Contract Research Organization Market – By Geography Forecast and Analysis – 2021 & 2028
Figure 18. Market Positioning of Key Players in Global IVD Contract Research Organization Market
Figure 19. IVD Contract Research Organization Market Revenue Share, by Type (2021 and 2028)
Figure 20. Clinical Chemistry: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Molecular Diagnostics: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Immunochemistry: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Companion Diagnostics: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Hematology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Histology and Cytology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Microbiology: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Others: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. IVD Contract Research Organization Market Revenue Share, by Services (2021 and 2028)
Figure 29. Clinical Research: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Biostatistics and Data Management Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Therapeutic Expertise: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Regulatory Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Reimbursement Support Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Assay Development Services: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Others: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. North America: IVD Contract Research Organization Market, by Key Country – Revenue (2021) (US$ Million)
Figure 37. North America: IVD Contract Research Organization Market Revenue and Forecast to 2028 (US$ Million)
Figure 38. North America: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
Figure 39. US: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Canada: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Mexico: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 42. Europe: IVD Contract Research Organization Market, by Key Country – Revenue (2021) (US$ Million)
Figure 43. Europe: IVD Contract Research Organization Market Revenue and Forecast to 2028 (US$ Million)
Figure 44. Europe: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
Figure 45. UK: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Germany: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. France: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. Italy: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. Spain: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Rest of Europe: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. Asia Pacific: IVD Contract Research Organization Market, by Key Country – Revenue (2021) (US$ Million)
Figure 52. Asia Pacific: IVD Contract Research Organization Market Revenue and Forecast to 2028 (US$ Million)
Figure 53. Asia Pacific: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
Figure 54. China: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Japan: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. India: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. Australia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. South Korea: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. Rest of Asia Pacific: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. Middle East and Africa: IVD Contract Research Organization Market, by Key Country – Revenue (2021) (US$ Million)
Figure 61. Middle East and Africa: IVD Contract Research Organization Market Revenue and Forecast to 2028 (US$ Million)
Figure 62. Middle East and Africa: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
Figure 63. UAE: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. Saudi Arabia: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. South Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 66. Rest of Middle East and Africa: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 67. South and Central America: IVD Contract Research Organization Market, by Key Country – Revenue (2021) (US$ Million)
Figure 68. South and Central America: IVD Contract Research Organization Market Revenue and Forecast to 2028 (US$ Million)
Figure 69. South and Central America: IVD Contract Research Organization Market, by Country, 2021 & 2028 (%)
Figure 70. Brazil: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. Argentina: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 72. Rest of South and Central America: IVD Contract Research Organization Market – Revenue and Forecast to 2028 (US$ Million)
Figure 73. Impact of COVID-19 Pandemic in North America Country Markets
Figure 74. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 75. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 76. Impact of COVID-19 Pandemic in Middle East & Africa Country Markets
Figure 77. Impact of COVID-19 Pandemic in South & Central America Country Markets
Figure 78. Growth Strategies in the IVD Contract Research Organization Market, 2021-2028
The List of Companies - IVD Contract Reserach Organization Market
- Proxima Clinical Research, Inc.,
- Clinexa, ResearchDx
- NAMSA
- Nexelis, a Q² Solutions Company
- ICON PLC
- Toolbox Medical Innovations
- DCN Dx
- CMIC HOLDINGS Co., LTD
- AKRN Scientific Consulting S.L.
- ResearchDx
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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