The North America compound management market is expected to reach US$ 275.04 Mn in 2027 from US$ 89.75 Mn in 2018. The market is estimated to grow with a CAGR of 13.9% from 2019-2027.
The growth of the market is driven by factors such as, increasing R&D expenditures and outsourcing activities and rise in the number of clinical trials. However, market growth is likely to slow down due to the shortage of skilled professionals in the region.
Research and development (R&D) is a significant part of the company’s business. Pharmaceutical and biotech companies focus on research and development (R&D) to come up with new molecules for various therapeutic applications with the most significant medical as well as commercial potential. Companies invest majorly on the R&Ds to deliver comparatively innovative products in the market. R&D investment made by biopharmaceutical companies has increased over the years. As per a report of Pharmaceutical Research and Manufacturers of America (PhRMA), the R&D expenditure of the biopharmaceutical companies has increased from US$49.6 billion in 2012 to US$ 58.8 billion in 2015.
The US is expected to lead the market in the North America region to the rapidly increasing expenditure of research and development by pharmaceutical companies. Moreover, various pharmaceutical companies are focusing on the development of new leads and storing the enormous amount of how samples to third-party companies who are expertise in compound management. This helps to reduce the in-house R&D activities by outsourcing these studies through third party companies’ expertise in compound management. Therefore, considering the factors mentioned above, growth of the market in the US is likely to contribute the most significant share in the North America region during the forecast period.
Mexico Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
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NORTH AMERICA COMPOUND MANAGEMENT – MARKET SEGMENTATION
By Product & Services
- Compound/Sample Management Products
- Instruments
- Automated Compound/Sample Storage Systems
- Manual Compound/Sample Storage Systems
- Automated Liquid Handling Systems
- Software
- Instruments
- Services
By Sample Type
- Chemical Compounds
- Biosamples
By Application
- Drug Discovery
- Gene Synthesis
- Biobanking
By End User
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations (CROs)
- Others
Company Profiles
- Biosero Inc.
- Meridian Bioscience
- Evotec
- Icagen, Inc.
- TCG Lifesciences Pvt. Ltd.
- TTP Labtech
- Frontier Scientific Services
- Hamilton Company
- Tecan Trading AG
- Brooks Life Sciences
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product & Services, Sample Type, Application, End User and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
2. North America Compound Management Market – Key Takeaways
3. North America Compound Management Market – Market Landscape
3.1 Overview
3.2 Market Segmentation
3.2.1 North America Compound Management Market – Product & Services
3.2.2 North America Compound Management Market – Sample Type
3.2.3 North America Compound Management Market – By Application
3.2.4 North America Compound Management Market – By End User
3.2.5 North America Compound Management Market – By Country
3.3 PEST Analysis
4. North America Compound Management Market - Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Increasing R&D Expenditures and Outsourcing Activities
4.1.2 Rise in The Number of Clinical Trials
4.2 Key Market Restraints
4.2.1 Dearth Of Skilled Professionals
4.3 Key Market Opportunities
4.3.1 Increasing Demand for Specialized Testing Services
4.4 Future Trends
4.4.1 Increasing Market Consolidation
4.5 Impact Analysis
5. Compound Management Market – North America Analysis
5.1 North America Compound Management Market Revenue Forecasts And Analysis
5.2 Performance of Key Players
6. North America Compound Management Market Analysis – By Product & Services
6.1 Overview
6.2 North America Compound Management Market by Product & Services, 2018 & 2027 (%)
6.3 North America Compound Management Market Revenue And Forecasts To 2027, By Product & Services (US$ Mn)
6.4 Compound/Sample Management Products Market
6.4.1 Overview
6.4.2 North America Compound/Sample Management Products Market Revenue and Forecasts to 2027 (US$ Mn)
6.4.3 Instruments Market
6.4.3.1 Overview
6.4.3.2 North America Instruments Market Revenue and Forecasts to 2027 (US$ Mn)
6.4.3.3 Automated Compound/Sample Storage Systems Market
6.4.3.3.1 Overview
6.4.3.3.2 North America Automated Compound/Sample Storage Systems Market Revenue and Forecasts to 2027 (US$ Mn)
6.4.3.4 Manual Compound/Sample Storage Systems Market
6.4.3.4.1 Overview
6.4.3.4.2 North America Manual Compound/Sample Storage Systems Market Revenue and Forecasts to 2027 (US$ Mn)
6.4.3.5 Automated Liquid Handling Systems Market
6.4.3.5.1 Overview
6.4.3.5.2 North America Automated Liquid Handling Systems Market Revenue and Forecasts to 2027 (US$ Mn)
6.4.4 Software Market
6.4.4.1 Overview
6.4.4.2 North America Software Market Revenue and Forecasts to 2027 (US$ Mn)
6.5 Services Market
6.5.1 Overview
6.5.2 North America Services Market Revenue and Forecasts to 2027 (US$ Mn)
7. North America Compound Management Market Analysis – By Sample Type
7.1 Overview
7.2 North America Compound Management Market by Sample Type, 2018 & 2027 (%)
7.3 North America Compound Management Market Revenue And Forecasts To 2027, By Sample Type (US$ Mn)
7.4 Chemical Compounds Market
7.4.1 Overview
7.4.2 North America Chemical Compounds Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Biosamples Market
7.5.1 Overview
7.5.2 North America Biosamples Market Revenue and Forecasts to 2027 (US$ Mn)
8. North America Compound Management Market Analysis – By Application
8.1 Overview
8.2 North America Compound Management Market by Application, 2018 & 2027 (%)
8.3 North America Compound Management Market Revenue And Forecasts To 2027, By Application (US$ Mn)
8.4 Drug Discovery Market
8.4.1 Overview
8.4.2 North America Drug Discovery Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Gene Synthesis Market
8.5.1 Overview
8.5.2 North America Gene Synthesis Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Biobanking Market
8.6.1 Overview
8.6.2 North America Biobanking Market Revenue and Forecasts to 2027 (US$ Mn)
9. North America Compound Management Market Analysis – By End User
9.1 Overview
9.2 North America Compound Management Market by End User, 2018 & 2027 (%)
9.3 North America Compound Management Market Revenue And Forecasts To 2027, By End User (US$ Mn)
9.4 Pharmaceutical Companies Market
9.4.1 Overview
9.4.2 North America Pharmaceutical Companies Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Biopharmaceutical Companies Market
9.5.1 Overview
9.5.2 North America Biopharmaceutical Companies Market Revenue and Forecasts to 2027 (US$ Mn)
9.6 Contract Research Organizations (CROs) Market
9.6.1 Overview
9.6.2 North America Contract Research Organizations (CROs) Market Revenue and Forecasts to 2027 (US$ Mn)
9.7 Others Market
9.7.1 Overview
9.7.2 North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
10. North America Compound Management Market Revenue and Forecasts To 2027
10.1 Overview
10.1.1 North America Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.2 North America Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
10.1.2.1 North America Compound Management Market Revenue And Forecasts To 2027, By Compound/Sample Management Products (US$ MN)
10.1.2.1.1 North America Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
10.1.3 North America Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
10.1.4 North America Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
10.1.5 North America Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
10.1.6 North America Compound Management Market Revenue and Forecasts to 2027, By Country (%)
10.1.7 US Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.1 US Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.7.2 US Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
10.1.7.2.1 US Compound Management Market Revenue And Forecasts To 2027, By Compound/Sample Management Products (US$ MN)
10.1.7.2.1.1 US Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
10.1.7.3 US Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
10.1.7.4 US Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
10.1.7.5 US Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
10.1.8 Canada Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.8.1 Canada Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.8.2 Canada Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
10.1.8.2.1 Canada Compound Management Market Revenue And Forecasts To 2027, By Compound/Sample Management Products (US$ MN)
10.1.8.2.1.1 Canada Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
10.1.8.3 Canada Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
10.1.8.4 Canada Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
10.1.8.5 Canada Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
10.1.9 Mexico Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.9.1 Mexico Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
10.1.9.2 Mexico Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
10.1.9.2.1 Mexico Compound Management Market Revenue And Forecasts To 2027, By Compound/Sample Management Products (US$ MN)
10.1.9.2.1.1 Mexico Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
10.1.9.3 Mexico Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
10.1.9.4 Mexico Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
10.1.9.5 Mexico Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
11. Compound Management Market – Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Compound Management Market, 2016-2019
11.3 Organic Growth Strategies
11.3.1 Overview
11.3.2 Product Launch
11.3.3 Expansion
11.4 Inorganic Growth Strategies
11.4.1 Overview
11.4.2 Acquisition
11.4.3 Collaboration
12. Compound Management Market–Key Company Profiles
12.1 Biosero Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 Product Portfolio
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 WuXi AppTec
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 Product Portfolio
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Evotec
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 Product Portfolio
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Icagen, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 Product Portfolio
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 TCG Lifesciences Pvt. Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 Product Portfolio
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 TTP Labtech
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 Product Portfolio
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Frontier Scientific Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 Product Portfolio
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Hamilton Company
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 Product Portfolio
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Tecan Trading AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 Product Portfolio
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Brooks Life Sciences
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Information
12.10.4 Product Portfolio
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary Of Terms
13.3 Methodology
13.3.1 Coverage
13.3.2 Secondary Research
13.3.3 Primary Research
LIST OF TABLES
Table 1. R&D Investments by Major Pharmaceutical Companies
Table 2. R&D Investments by PhRMA member companies,2016
Table 3. Number of Registered Studies for Clinical Trials
Table 4. Consolidation Across the CRO Industry
Table 5. North America Compound Management Market Revenue And Forecasts To 2027, By Product & Services (US$ Mn)
Table 6. North America Compound Management Market Revenue And Forecasts To 2027, By Sample Type (US$ Mn)
Table 7. North America Compound Management Market Revenue And Forecasts To 2027, By Application (US$ Mn)
Table 8. North America Compound Management Market Revenue And Forecasts To 2027, By End User (US$ Mn)
Table 9. North America Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
Table 10. North America Compound Management Market Revenue And Forecasts to 2027, By Compound/Sample Management Products (US$ Mn)
Table 11. North America Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
Table 12. North America Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
Table 13. North America Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 14. North America Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
Table 15. US: R&D Investments by Pharmaceutical Companies, (2015-2016)
Table 16. US Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
Table 17. US Compound Management Market Revenue And Forecasts to 2027, By Compound/Sample Management Products (US$ Mn)
Table 18. US Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
Table 19. US Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
Table 20. US Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 21. US Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
Table 22. Canada Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
Table 23. Canada Compound Management Market Revenue And Forecasts to 2027, By Compound/Sample Management Products (US$ Mn)
Table 24. Canada Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
Table 25. Canada Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
Table 26. Canada Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 27. Canada Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
Table 28. Mexico Compound Management Market Revenue And Forecasts to 2027, By Product & Services (US$ Mn)
Table 29. Mexico Compound Management Market Revenue And Forecasts to 2027, By Compound/Sample Management Products (US$ Mn)
Table 30. Mexico Compound Management Market Revenue And Forecasts to 2027, By Instruments (US$ Mn)
Table 31. Mexico Compound Management Market Revenue And Forecasts to 2027, By Sample Type (US$ Mn)
Table 32. Mexico Compound Management Market Revenue And Forecasts to 2027, By Application (US$ Mn)
Table 33. Mexico Compound Management Market Revenue And Forecasts to 2027, By End User (US$ Mn)
Table 34. Recent Product Launch in the Compound Management Market
Table 35. Recent Expansion in the Compound Management Market
Table 36. Acquisitions in the Compound Management Market
Table 37. Collaboration in the Compound Management Market
Table 38. Glossary of Terms, Compound Management Market
LIST OF FIGURES
Figure 1. US Compound Management Market, Revenue (US$ Mn), By Country 2018 & 2027
Figure 2. North America Compound Management Market By Product & Services, Market Share (%), 2018
Figure 3. North America Compound Management Market By Sample Type, Market Share (%), 2018
Figure 4. North America Compound Management Market By Application, Market Share (%), 2018
Figure 5. North America Compound Management Market By End User, Market Share (%), 2018
Figure 6. Compound Management Market Segmentation
Figure 7. North America PEST Analysis
Figure 8. Compound Management Market Impact Analysis of Drivers & Restraints
Figure 9. North America Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 10. Prominent Players in the Compound Management Market
Figure 11. North America Compound Management Market, By Product & Services 2018 & 2027 (%)
Figure 12. North America Compound/Sample Management Products Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 13. North America Instruments Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 14. North America Automated Compound/Sample Storage Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 15. North America Manual Compound/Sample Storage Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 16. North America Automated Liquid Handling Systems Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 17. North America Software Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. North America Services Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. North America Compound Management Market, By Sample Type 2018 & 2027 (%)
Figure 20. North America Chemical Compounds Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 21. North America Biosamples Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. North America Compound Management Market, By Application 2018 & 2027 (%)
Figure 23. North America Drug Discovery Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 24. North America Gene Synthesis Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 25. North America Biobanking Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. North America Compound Management Market, By End User 2018 & 2027 (%)
Figure 27. North America Pharmaceutical Companies Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 28. North America Biopharmaceutical Companies Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 29. North America Contract Research Organizations (CROs) Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. North America Others Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. North America Compound Management Market Revenue Overview, by Country, 2018 (US$ Mn)
Figure 32. North America Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. North America Compound Management Market Revenue and Forecasts to 2027, By Country (%)
Figure 34. US Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 35. Canada Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 36. Mexico Compound Management Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 37. Growth Strategies in the Compound Management Market, 2016-2019
Figure 38. Organic Growth Strategies in the Compound Management Market, 2016-2019
Figure 39. Inorganic Growth Strategies in the Compound Management Market, 2016-2019
The List of Companies
- Biosero Inc.
- Meridian Bioscience
- Evotec
- Icagen, Inc.
- TCG Lifesciences Pvt. Ltd.
- TTP Labtech
- Frontier Scientific Services
- Hamilton Company
- Tecan Trading AG
- Brooks Life Sciences
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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