The In-vitro diagnostics market in Middle East and Africa is expected to grow from US$ 2,675.1 million in 2019 to US$ 3,454.0 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.
Automation deals with the utilization of various intelligent systems with an aim to perform any operation with minimal human intervention. The application of automation in clinical laboratories enables analysts to perform several tests in minimum turnaround time and efforts. Moreover, the automation can serve maximum accuracy in results as well as reduction in variations. Additionally, installation of intelligent software & hardware in clinical analyzers has dramatically improved the overall operating capacity, quality of data processing, and process control in clinical automation. Extensively increasing patient pool is generating massive demand for clinical automation as it offers superior benefits. For instance, in May 2019, Beckman Coulter, one of the major market players announced introduction of its new DxA 5000 total laboratory automation solution. The newly launched system is capable of managing high volume samples with significant reduction in procedural time. Furthermore, growing emphasis of healthcare institutes on cost and time optimization is fueling the adoption of automation in clinical laboratories. Additionally, increasing focus on error reduction, efficient sample collection, and patient safety would eventually boost the acceptance of laboratory automation during the forecast period.
Thecountries in the Middle East and African region have taken precautionary measures and imposed stringent regulations to control the spread of COVID-19. Countries such
as
UAE, Saudi Arabia, Jordan, Iraq, and Iran, have strictly imposed lockdown in the countries. The majority of the countries in the region are dependent on the other region for medical devices and other products. Therefore, there has been a shortage of various test kits in some countries. However, various international organizations such as International Federation for Red Cross, Red Crescent, and the United Nations Volunteers (UNV) program have helped in a great way to provide IVD facilities in all possible ways. Various European companies have been supporting by offering their rapid immunochemistry test. The import of rapid test kits has increased growth opportunities for various companies to expand their business in the region. Also, the growing developments for the healthcare industry in the region are likely to foster growth in the following years.With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the In-vitro diagnostics market. The Middle East and Africa In-vitro diagnostics market is expected to grow at a good CAGR during the forecast period.
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Middle East and Africa In-Vitro Diagnostics Market Segmentation
By Product and Services
- Instruments
- Reagents & Kits
- Software & Services
By Technology
- Immunoassay/ Immunochemistry
- Clinical Chemistry
- Molecular Diagnostics
- Microbiology
- Blood Glucose Self-Monitoring
- Coagulation & Hemostasis
- Hematology
- Urinalysis
- Others
By Application
- Infectious Diseases
- Diabetes
- Oncology
- Cardiology
- Autoimmune Diseases
- Nephrology
- Others
By End User
- Hospitals
- Laboratories
- Homecare
- Others
By Country
Middle East and Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Companies Mentioned
- F. HOFFMANN-LA ROCHE LTD.
- DANAHER
- ABBOTT
- SIEMENS AG
- SYSMEX CORPORATION
- THERMO FISHER SCIENTIFIC, INC.
- BD
- BIOMERIEUX SA
- BIO-RAD LABORATORIES, INC.
- QIAGEN
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product and Services, Technology, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Saudi Arabia
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 In-Vitro Diagnostics Market – By Product and Services
1.3.2 In-Vitro Diagnostics Market – By Technology
1.3.3 In-Vitro Diagnostics Market – By Application
1.3.4 In-Vitro Diagnostics Market – By End User
1.3.5 Middle East and Africa In-Vitro Diagnostics Market – By Country
2. Middle East and Africa In-Vitro Diagnostics Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East and Africa In-Vitro Diagnostics Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 In-Vitro Diagnostics Market- Middle East and Africa PEST Analysis
4.3 Expert Opinion
5. Middle East and Africa In-Vitro Diagnostics Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Chronic and Infectious Diseases
5.1.2 Growing Geriatric Population
5.1.3 Rising Demand for In-Vitro Diagnostics During COVID-19 Pandemic
5.2 Market Restraints
5.2.1 Lack of Healthcare Infrastructure and Reimbursement Policies
5.3 Future Trends
5.3.1 Increasing Adoption and Popularity of Automation in Clinical Laboratories
5.4 Impact Analysis
6. In-Vitro Diagnostics Market – Middle East and Africa Analysis
6.1 Middle East and Africa In-Vitro Diagnostics Market Revenue Forecasts and Analysis
7. Middle East and Africa In-Vitro Diagnostics Market Analysis and Forecasts To 2027 – By Product and Services
7.1 Overview
7.2 In-Vitro Diagnostics, by Product and Services, 2019 & 2027 (% Share)
7.3 Reagents & Kits
7.3.1 Overview
7.3.2 Reagents & Kits Market Revenue and Forecast to 2027 (US$ Mn)
7.4 Instruments
7.4.1 Overview
7.4.2 Instruments Market Revenue and Forecast to 2027 (US$ Mn)
7.5 Software & Services
7.5.1 Overview
7.5.2 Software & Services Market Revenue and Forecast to 2027 (US$ Mn)
8. Middle East and Africa In-Vitro Diagnostics Market Analysis and Forecasts To 2027 – By Technology
8.1 Overview
8.2 In-Vitro Diagnostics Market, by Technology, 2019 & 2027 (% Share)
8.3 Immunoassay/Immunochemistry
8.3.1 Overview
8.3.2 Immunoassay/Immunochemistry Market Revenue and Forecast to 2027 (US$ Mn)
8.4 Clinical Chemistry
8.4.1 Overview
8.4.2 Clinical Chemistry Market Revenue and Forecast to 2027 (US$ Mn)
8.5 Molecular Diagnostics
8.5.1 Overview
8.5.2 Molecular Diagnostics Market Revenue and Forecast to 2027 (US$ Mn)
8.6 Microbiology
8.6.1 Overview
8.6.2 Microbiology Market Revenue and Forecast to 2027 (US$ Mn)
8.7 Blood Glucose Self-Monitoring
8.7.1 Overview
8.7.2 Blood Glucose Self-Monitoring Market Revenue and Forecast to 2027 (US$ Mn)
8.8 Coagulation and Hemostasis
8.8.1 Overview
8.8.2 Coagulation and Hemostasis Market Revenue and Forecast to 2027 (US$ Mn)
8.9 Haematology
8.9.1 Overview
8.9.2 Haematology Market Revenue and Forecast to 2027 (US$ Mn)
8.10 Urinalysis
8.10.1 Overview
8.10.2 Urinalysis Market Revenue and Forecast to 2027 (US$ Mn)
8.11 Others
8.11.1 Overview
8.11.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
9. Middle East and Africa In-Vitro Diagnostics Market Analysis and Forecasts To 2027 – By Application
9.1 Overview
9.2 In-Vitro Diagnostics Market, by Application, 2019 & 2027 (% Share)
9.3 Infectious Diseases
9.3.1 Overview
9.3.2 Infectious Diseases Market Revenue and Forecast to 2027 (US$ Mn)
9.4 Diabetes
9.4.1 Overview
9.4.2 Diabetes Market Revenue and Forecast to 2027 (US$ Mn)
9.5 Oncology
9.5.1 Overview
9.5.2 Oncology Market Revenue and Forecast to 2027 (US$ Mn)
9.6 Cardiology
9.6.1 Overview
9.6.2 Cardiology Market Revenue and Forecast to 2027 (US$ Mn)
9.7 Autoimmune Disease
9.7.1 Overview
9.7.2 Autoimmune Disease Market Revenue and Forecast to 2027 (US$ Mn)
9.8 Nephrology
9.8.1 Overview
9.8.2 Nephrology Market Revenue and Forecast to 2027 (US$ Mn)
9.9 Others
9.9.1 Overview
9.9.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
10. Middle East and Africa In-Vitro Diagnostics Market Analysis and Forecasts to 2027– By End user
10.1 Overview
10.2 In-Vitro Diagnostics Market Share by End User 2019 & 2027 (%)
10.3 Hospitals
10.3.1 Overview
10.3.2 Hospitals Market Revenue and Forecast to 2027 (US$ Mn)
10.4 Laboratories
10.4.1 Overview
10.4.2 Laboratories Market Revenue and Forecast to 2027 (US$ Mn)
10.5 Homecare
10.5.1 Overview
10.5.2 Homecare Market Revenue and Forecast to 2027 (US$ Mn)
10.6 Others
10.6.1 Overview
10.6.2 Others Market Revenue and Forecast to 2027 (US$ Mn)
11. In-Vitro Diagnostics Market Revenue and Forecasts to 2027 – Geographical Analysis
11.1 Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027
11.1.1 Middle East and Africa In-Vitro Diagnostics Market Revenue and Forecast to 2027, By Country (%)
11.1.2 Saudi Arabia
11.1.2.1 Saudi Arabia In-Vitro Diagnostics Market Revenue and Forecast to 2027 (US$ Mn)
11.1.2.1.1 Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Product and Services (US$ Mn)
11.1.2.1.2 Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Technology (US$ Mn)
11.1.2.1.3 Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Application (US$ Mn)
11.1.2.1.4 Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast to 2027, By End User (US$ Mn)
11.1.3 South Africa
11.1.3.1 South Africa In-Vitro Diagnostics Market Revenue and Forecast to 2027 (US$ Mn)
11.1.3.1.1 South Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Product and Services (US$ Mn)
11.1.3.1.2 South Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Technology (US$ Mn)
11.1.3.1.3 South Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Application (US$ Mn)
11.1.3.1.4 South Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By End User (US$ Mn)
11.1.4 UAE
11.1.4.1 UAE In-Vitro Diagnostics Market Revenue and Forecast to 2027 (US$ Mn)
11.1.4.1.1 UAE In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Product and Services (US$ Mn)
11.1.4.1.2 UAE In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Technology (US$ Mn)
11.1.4.1.3 UAE In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Application (US$ Mn)
11.1.4.1.4 UAE In-Vitro Diagnostics Market Revenue And Forecast to 2027, By End User (US$ Mn)
11.1.5 Rest of Middle East and Africa
11.1.5.1 Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue and Forecast to 2027 (US$ Mn)
11.1.5.1.1 Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Product and Services (US$ Mn)
11.1.5.1.2 Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Technology (US$ Mn)
11.1.5.1.3 Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By Application (US$ Mn)
11.1.5.1.4 Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast to 2027, By End User (US$ Mn)
12. Impact Of COVID-19 Pandemic on Middle East and Africa In-Vitro Diagnostics Market
12.1 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Organic Developments Done by The Companies in The Market
13.3 Inorganic Developments Done by The Companies in The Market
14. COMPANY PROFILES
14.1 Abbott
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 F. HOFFMANN-LA ROCHE LTD.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Danaher
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Siemens AG
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Sysmex Corporation
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 THERMO FISHER SCIENTIFIC INC.
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 BD
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 bioMerieux SA
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 BIO-RAD LABORATORIES INC.
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 QIAGEN
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About the Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. Key launches 2016: By Roche
Table 2. Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Product and Services (US$ Mn)
Table 3. Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Technology (US$ Mn)
Table 4. Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Application (US$ Mn)
Table 5. Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast To 2027, By End User (US$ Mn)
Table 6. South Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Product and Services (US$ Mn)
Table 7. South Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Technology (US$ Mn)
Table 8. South Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Application (US$ Mn)
Table 9. South Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By End User (US$ Mn)
Table 10. UAE In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Product and Services (US$ Mn)
Table 11. UAE In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Technology (US$ Mn)
Table 12. UAE In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Application (US$ Mn)
Table 13. UAE In-Vitro Diagnostics Market Revenue And Forecast To 2027, By End User (US$ Mn)
Table 14. Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Product and Services (US$ Mn)
Table 15. Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Technology (US$ Mn)
Table 16. Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By Application (US$ Mn)
Table 17. Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027, By End User (US$ Mn)
Table 18. Organic Developments Done by The Companies
Table 19. Inorganic Developments Done by The Companies
Table 20. Glossary of Terms, In-Vitro Diagnostics Market
LIST OF FIGURES
Figure 1. In-Vitro Diagnostics Market Segmentation
Figure 2. Middle East and Africa In-Vitro Diagnostics Market Overview
Figure 3. Reagents and Kits Segment Held Largest Share of Product and Services in In-Vitro Diagnostics Market
Figure 4. Infectious Diseases Segment Held Largest Share of Application in In-Vitro Diagnostics Market
Figure 5. UAE is Expected to Show Remarkable Growth During the Forecast Period
Figure 6. In-Vitro Diagnostics Market - Middle East and Africa PEST Analysis
Figure 7. In-Vitro Diagnostics Market Impact Analysis of Driver and Restraints
Figure 8. Middle East and Africa In-Vitro Diagnostics Market – Revenue Forecasts and Analysis – 2019- 2027
Figure 9. In-Vitro Diagnostics, by Product and Services, 2019 & 2027 (% Share)
Figure 10. Reagents & Kits Market Revenue and Forecast to 2027 (US$ Mn)
Figure 11. Instruments Market Revenue and Forecast to 2027 (US$ Mn)
Figure 12. Software & Services Market Revenue and Forecast to 2027 (US$ Mn)
Figure 13. In-Vitro Diagnostics Market, By Technology, 2019 & 2027 (% Share)
Figure 14. Immunoassay/Immunochemistry Market Revenue And Forecast To 2027 (US$ Mn)
Figure 15. Clinical Chemistry Market Revenue And Forecast To 2027 (US$ Mn)
Figure 16. Molecular Diagnostics Market Revenue And Forecast To 2027 (US$ Mn)
Figure 17. Microbiology Market Revenue And Forecast To 2027 (US$ Mn)
Figure 18. Blood Glucose Self-Monitoring Market Revenue And Forecast To 2027 (US$ Mn)
Figure 19. Coagulation and Hemostasis Market Revenue And Forecast To 2027 (US$ Mn)
Figure 20. Hematology Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. Urinalysis Market Revenue And Forecast To 2027 (US$ Mn)
Figure 22. Others Market Revenue And Forecast To 2027 (US$ Mn)
Figure 23. In-Vitro Diagnostics Market, By Application, 2019 & 2027 (% Share)
Figure 24. Infectious Diseases Market Revenue And Forecast To 2027 (US$ Mn)
Figure 25. Diabetes Market Revenue And Forecast To 2027 (US$ Mn)
Figure 26. Most Prevalent Forms of Cancers Globally, 2018
Figure 27. Oncology Market Revenue And Forecast To 2027 (US$ Mn)
Figure 28. Cardiology Market Revenue And Forecast To 2027 (US$ Mn)
Figure 29. Autoimmune Disease Market Revenue And Forecast To 2027 (US$ Mn)
Figure 30. Nephrology Market Revenue And Forecast To 2027 (US$ Mn)
Figure 31. Others Market Revenue And Forecast To 2027 (US$ Mn)
Figure 32. In-Vitro Diagnostics Market Share by End User 2019 & 2027 (%)
Figure 33. Hospitals Market Revenue And Forecast To 2027 (US$ Mn)
Figure 34. Laboratories Market Revenue And Forecast To 2027 (US$ Mn)
Figure 35. Homecare Market Revenue And Forecast To 2027 (US$ Mn)
Figure 36. Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 37. Middle East and Africa In-Vitro Diagnostics Market Revenue, By Country, 2019 (US$ Mn)
Figure 38. Middle East and Africa In-Vitro Diagnostics Market Revenue and Forecast to 2027, By Country (%)
Figure 39. Saudi Arabia In-Vitro Diagnostics Market Revenue And Forecast To 2027 (US$ Mn)
Figure 40. South Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027 (US$ Mn)
Figure 41. UAE In-Vitro Diagnostics Market Revenue And Forecast To 2027 (US$ Mn)
Figure 42. Rest of Middle East and Africa In-Vitro Diagnostics Market Revenue And Forecast To 2027 (US$ Mn)
Figure 43. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
Figure 44. Growth Strategies Done by the Companies in the Market, (%)
- F. HOFFMANN-LA ROCHE LTD.
- DANAHER
- ABBOTT
- SIEMENS AG
- SYSMEX CORPORATION
- THERMO FISHER SCIENTIFIC, INC.
- BD
- BIOMERIEUX SA
- BIO-RAD LABORATORIES, INC.
- QIAGEN
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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