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The Genotyping Market Size was valued at USD 17.24 billion in 2023, and is expected to reach USD 58.80 billion by 2032, and grow at a CAGR of 14.6% over the forecast period 2024-2032.
Genotyping is a technique that examines an individual's DNA sequence to determine genetic make-up variances. This technique aids researchers in investigating genetic aberrations such as major structural alterations in DNA and single nucleotide polymorphisms.
The global incidence of chronic diseases such as cancer and genetic disease is predicted to stimulate demand for genotypic-based diagnostic testing. According to WHO, 19.1 million new cancer cases would be diagnosed globally in 2020. Human Papillomavirus (HPV) and Hepatitis B Virus (HBV)/Hepatitis C Virus (HCV) are also responsible for around 20% of cancer deaths globally. Based on population growth and aging, the number of cancer cases is predicted to rise by roughly 70% over the next two decades. As a result, the increased prevalence of cancer is likely to be a significant driving force in this market.
DRIVERS
The rising prevalence of target diseases, such as cancer, diabetes, and Alzheimer’s
Research and development abilities
The rising frequency of numerous target diseases such as cancer and diabetes is one of the key factors driving the increase and demand for genotyping. Genotyping has carved the way for market expansion because it is widely employed in drug development for genetic abnormalities and rare diseases.
RESTRAIN
High costs associated with research and development capabilities
There is a high cost for the setups and to conduct various associated research for the creation of various products and new advanced technologies, which is expected to restrict the genotype market growth during the forecast period.
OPPORTUNITY
Increasing product innovation and development as a result of global technical breakthroughs
Increased public-private funding for targeted research activities
Globally, research efforts in the genotyping industry have grown, which is projected to provide an opportunity for market expansion. As a result, the increase in public-private support for research activities is likely to present a market opportunity.
CHALLENGES
Unfavourable reimbursement policies
Stringent laws and regulations, as well as unfavorable reimbursement policies, have an impact on overall market growth, which is one of the restricting aspects for the anticipated year.
The current crisis in Ukraine, and any potential escalation, can interrupt Eurofins operations, either directly or indirectly through its customers or supply chain, and limit Eurofins' capacity to do business in existing and/or target markets. The sharp rise in energy prices caused by the conflict may expose Eurofins and its commercial partners to major value shifts, business interruption risks, and supply chain issues. In the long run, a protracted conflict in Ukraine could have a significant impact on commodity prices. Because Russia and Ukraine produce a substantial amount of the world's wheat supply, as well as corn and sunflower oil exports, there is a risk of food insecurity for countries and areas that rely on these commodities for survival. As a result, commodity shortages may have an impact on some of our custom Eurofins operations.
IMPACT OF ONGOING RECESSION
Customers of Bio-Rad Laboratories Inc. include universities, clinical diagnostics laboratories, government agencies, hospitals, and pharmaceutical, biotechnology, and chemical firms. The capital spending programs of these organizations and enterprises have a substantial impact on product demand. Such programs are based on a variety of factors, including the resources available to make such purchases, the availability of funding from grants from governments or government agencies, the spending priorities for various types of equipment, and policies regarding capital expenditures during industry downturns or recessionary periods.
By Product
Instruments
Reagents & Kits
Software and Services
In 2022, Reagents & Kits segment is expected to held the highest market share of 61.8% during the forecast period due to rising demand for generic testing, increasing investment in R & D expenditure and rising genotyping testing volume.
By Technology
PCR
Capillary Electrophoresis
Microarrays
Sequencing
Others
In 2022, Sequencing segment is expected to held the highest market share of 21.2% during the forecast period. It is expected to grow at a lucrative rate during the forecast period due to greater specificity and the ability to detect low expression and differentially expressed genes more effectively than other approaches. Genotyping by sequencing also makes it possible to do comparative analysis across samples without the use of a reference genome.
By Application
Pharmacogenomics
Diagnostics and Personalized Medicine
Agricultural Biotechnology
Animal Genetics
Others
In 2022, Diagnostics and Personalized Medicine segment is expected to dominate the market growth of 33.8% during the forecast period owing to the expanding acceptance of genotyping products for research and the increasing necessity for the diagnosis of genetic illnesses. Furthermore, strategic alliances among industry participants are projected to drive market growth
By End User
Pharmaceutical and Biopharmaceutical Companies
Diagnostics and Research Laboratories
Academic Institutes
Others
In 2022, Diagnostics and Research Laboratories segment is expected to dominate the market growth of 36.3% during the forecast period owing to the expanding acceptance of genotyping products for research and the increasing requirement for diagnosis of genetic illnesses & cancer. Furthermore, the rising prevalence of cancer raises the demand for diagnostic tests, such as cancer genotyping assays, which will drive the market.
North America held a significant market share growing with a CAGR of 39.6% in 2022 due to the increasing use of technologically improved products, the presence of large pharmaceutical & biopharmaceutical companies, proactive government intiatives, and developments in healthcare infrastructure. Another important aspect contributing to this region's high market share is the presence of major key players.
Asia-Pacific is witness to expand fastest CAGR rate of 16.1% during the forecast period due to the presence of significant unexplored prospects and increasing number of clinical trials being done in this region. Other causes, such as technological improvements and the region's expanding pharma and biopharma industries, can also be credited to this growth.
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major players are Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Fluidigm Corporation, Danaher Corporation, Agilent Technologies, Eurofins Scientific Inc., GE Healthcare Inc., Bio-Rad Laboratories Inc., and Other Players
In January 2023, to increase its product line and strengthen its market position, Thermo Fisher Scientific, Inc. developed its CE-IVD labelled TaqPath Seq HIV-1 genotyping kit.
In 2021, Thermo Fisher Scientific introduced the Ion Torrent Genexus System, which is intended for speedy and precise genotyping in clinical settings. This has aided the organization in expanding its global market footprint.
| Report Attributes | Details |
| Market Size in 2023 | US$ 17.24 Billion |
| Market Size by 2032 | US$ 58.80 Billion |
| CAGR | CAGR of 14.6 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Instruments, Reagents & Kits, Software and Services) • By Technology (PCR, Capillary Electrophoresis, Microarrays, Sequencing, Mass Spectrometry, Others) • By Application (Pharmacogenomics, Diagnostics and Personalized Medicine, Agricultural Biotechnology, Animal Genetics, Others) • By End User (Pharmaceutical and Biopharmaceutical Companies, Diagnostics and Research Laboratories, Academic Institutes, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Illumina Inc., Thermo Fisher Scientific Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Fluidigm Corporation, Danaher Corporation, Agilent Technologies, Eurofins Scientific Inc., GE Healthcare Inc., Bio-Rad Laboratories Inc. |
| Key Drivers | • The rising prevalence of target diseases, such as cancer, diabetes, and Alzheimer’s • Research and development abilities |
| Market Challenges | • Unfavourable reimbursement policies |
Ans: Genotyping Market size was valued at USD 17.24 billion in 2023.
Ans: The Genotyping Market is expected to grow at 14.6% CAGR from 2024 to 2032.
Ans: According to our analysis, the Genotyping Market is anticipated to reach USD 58.80 billion By 2032.
Ans: by the use of genotyping in drug development, the launch of novel technologies for reducing errors significantly, the rising prevalence of target diseases, such as diabetes, Alzheimer’s, and cancer.
Ans: Yes, you may request customization based on your company's needs.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Genotyping Market Segmentation, by Product
8.1 Instruments
8.2 Reagents & Kits
8.3 Software and Services
9. Genotyping Market Segmentation, by Technology
9.1 PCR
9.2 Capillary Electrophoresis
9.3 Microarrays
9.4 Sequencing
9.5 Mass Spectrometry
9.6 Others
10. Genotyping Market Segmentation, by Application
10.1 Pharmacogenomics
10.2 Diagnostics and Personalized Medicine
10.3 Agricultural Biotechnology
10.4 Animal Genetics
10.5 Others
11. Genotyping Market Segmentation, by End User
11.1 Pharmaceutical and Biopharmaceutical Companies
11.2 Diagnostics and Research Laboratories
11.3 Academic Institutes
11.4 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Genotyping Market by Country
12.2.2 North America Genotyping Market by Product
12.2.3 North America Genotyping Market by Technology
12.2.4 North America Genotyping Market by Application
12.2.5 North America Genotyping Market by End User
12.2.6 USA
12.2.6.1 USA Genotyping Market by Product
12.2.6.2 USA Genotyping Market by Technology
12.2.6.3 USA Genotyping Market by Application
12.2.6.4 USA Genotyping Market by End User
12.2.7 Canada
12.2.7.1 Canada Genotyping Market by Product
12.2.7.2 Canada Genotyping Market by Technology
12.2.7.3 Canada Genotyping Market by Application
12.2.7.4 Canada Genotyping Market by End User
12.2.8 Mexico
12.2.8.1 Mexico Genotyping Market by Product
12.2.8.2 Mexico Genotyping Market by Technology
12.2.8.3 Mexico Genotyping Market by Application
12.2.8.4 Mexico Genotyping Market by End User
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Genotyping Market by Country
12.3.1.2 Eastern Europe Genotyping Market by Product
12.3.1.3 Eastern Europe Genotyping Market by Technology
12.3.1.4 Eastern Europe Genotyping Market by Application
12.3.1.5 Eastern Europe Genotyping Market by End User
12.3.1.6 Poland
12.3.1.6.1 Poland Genotyping Market by Product
12.3.1.6.2 Poland Genotyping Market by Technology
12.3.1.6.3 Poland Genotyping Market by Application
12.3.1.6.4 Poland Genotyping Market by End User
12.3.1.7 Romania
12.3.1.7.1 Romania Genotyping Market by Product
12.3.1.7.2 Romania Genotyping Market by Technology
12.3.1.7.3 Romania Genotyping Market by Application
12.3.1.7.4 Romania Genotyping Market by End User
12.3.1.8 Hungary
12.3.1.8.1 Hungary Genotyping Market by Product
12.3.1.8.2 Hungary Genotyping Market by Technology
12.3.1.8.3 Hungary Genotyping Market by Application
12.3.1.8.4 Hungary Genotyping Market by End User
12.3.1.9 Turkey
12.3.1.9.1 Turkey Genotyping Market by Product
12.3.1.9.2 Turkey Genotyping Market by Technology
12.3.1.9.3 Turkey Genotyping Market by Application
12.3.1.9.4 Turkey Genotyping Market by End User
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Genotyping Market by Product
12.3.1.10.2 Rest of Eastern Europe Genotyping Market by Technology
12.3.1.10.3 Rest of Eastern Europe Genotyping Market by Application
12.3.1.10.4 Rest of Eastern Europe Genotyping Market by End User
12.3.2 Western Europe
12.3.2.1 Western Europe Genotyping Market by Country
12.3.2.2 Western Europe Genotyping Market by Product
12.3.2.3 Western Europe Genotyping Market by Technology
12.3.2.4 Western Europe Genotyping Market by Application
12.3.2.5 Western Europe Genotyping Market by End User
12.3.2.6 Germany
12.3.2.6.1 Germany Genotyping Market by Product
12.3.2.6.2 Germany Genotyping Market by Technology
12.3.2.6.3 Germany Genotyping Market by Application
12.3.2.6.4 Germany Genotyping Market by End User
12.3.2.7 France
12.3.2.7.1 France Genotyping Market by Product
12.3.2.7.2 France Genotyping Market by Technology
12.3.2.7.3 France Genotyping Market by Application
12.3.2.7.4 France Genotyping Market by End User
12.3.2.8 UK
12.3.2.8.1 UK Genotyping Market by Product
12.3.2.8.2 UK Genotyping Market by Technology
12.3.2.8.3 UK Genotyping Market by Application
12.3.2.8.4 UK Genotyping Market by End User
12.3.2.9 Italy
12.3.2.9.1 Italy Genotyping Market by Product
12.3.2.9.2 Italy Genotyping Market by Technology
12.3.2.9.3 Italy Genotyping Market by Application
12.3.2.9.4 Italy Genotyping Market by End User
12.3.2.10 Spain
12.3.2.10.1 Spain Genotyping Market by Product
12.3.2.10.2 Spain Genotyping Market by Technology
12.3.2.10.3 Spain Genotyping Market by Application
12.3.2.10.4 Spain Genotyping Market by End User
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Genotyping Market by Product
12.3.2.11.2 Netherlands Genotyping Market by Technology
12.3.2.11.3 Netherlands Genotyping Market by Application
12.3.2.11.4 Netherlands Genotyping Market by End User
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Genotyping Market by Product
12.3.2.12.2 Switzerland Genotyping Market by Technology
12.3.2.12.3 Switzerland Genotyping Market by Application
12.3.2.12.4 Switzerland Genotyping Market by End User
12.3.2.13 Austria
12.3.2.13.1 Austria Genotyping Market by Product
12.3.2.13.2 Austria Genotyping Market by Technology
12.3.2.13.3 Austria Genotyping Market by Application
12.3.2.13.4 Austria Genotyping Market by End User
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Genotyping Market by Product
12.3.2.14.2 Rest of Western Europe Genotyping Market by Technology
12.3.2.14.3 Rest of Western Europe Genotyping Market by Application
12.3.2.14.4 Rest of Western Europe Genotyping Market by End User
12.4 Asia-Pacific
12.4.1 Asia Pacific Genotyping Market by Country
12.4.2 Asia Pacific Genotyping Market by Product
12.4.3 Asia Pacific Genotyping Market by Technology
12.4.4 Asia Pacific Genotyping Market by Application
12.4.5 Asia Pacific Genotyping Market by End User
12.4.6 China
12.4.6.1 China Genotyping Market by Product
12.4.6.2 China Genotyping Market by Technology
12.4.6.3 China Genotyping Market by Application
12.4.6.4 China Genotyping Market by End User
12.4.7 India
12.4.7.1 India Genotyping Market by Product
12.4.7.2 India Genotyping Market by Technology
12.4.7.3 India Genotyping Market by Application
12.4.7.4 India Genotyping Market by End User
12.4.8 Japan
12.4.8.1 Japan Genotyping Market by Product
12.4.8.2 Japan Genotyping Market by Technology
12.4.8.3 Japan Genotyping Market by Application
12.4.8.4 Japan Genotyping Market by End User
12.4.9 South Korea
12.4.9.1 South Korea Genotyping Market by Product
12.4.9.2 South Korea Genotyping Market by Technology
12.4.9.3 South Korea Genotyping Market by Application
12.4.9.4 South Korea Genotyping Market by End User
12.4.10 Vietnam
12.4.10.1 Vietnam Genotyping Market by Product
12.4.10.2 Vietnam Genotyping Market by Technology
12.4.10.3 Vietnam Genotyping Market by Application
12.4.10.4 Vietnam Genotyping Market by End User
12.4.11 Singapore
12.4.11.1 Singapore Genotyping Market by Product
12.4.11.2 Singapore Genotyping Market by Technology
12.4.11.3 Singapore Genotyping Market by Application
12.4.11.4 Singapore Genotyping Market by End User
12.4.12 Australia
12.4.12.1 Australia Genotyping Market by Product
12.4.12.2 Australia Genotyping Market by Technology
12.4.12.3 Australia Genotyping Market by Application
12.4.12.4 Australia Genotyping Market by End User
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Genotyping Market by Product
12.4.13.2 Rest of Asia-Pacific Genotyping Market by Technology
12.4.13.3 Rest of Asia-Pacific Genotyping Market by Application
12.4.13.4 Rest of Asia-Pacific Genotyping Market by End User
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Genotyping Market by country
12.5.1.2 Middle East Genotyping Market by Product
12.5.1.3 Middle East Genotyping Market by Technology
12.5.1.4 Middle East Genotyping Market by Application
12.5.1.5 Middle East Genotyping Market by End User
12.5.1.6 UAE
12.5.1.6.1 UAE Genotyping Market by Product
12.5.1.6.2 UAE Genotyping Market by Technology
12.5.1.6.3 UAE Genotyping Market by Application
12.5.1.6.4 UAE Genotyping Market by End User
12.5.1.7 Egypt
12.5.1.7.1 Egypt Genotyping Market by Product
12.5.1.7.2 Egypt Genotyping Market by Technology
12.5.1.7.3 Egypt Genotyping Market by Application
12.5.1.7.4 Egypt Genotyping Market by End User
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Genotyping Market by Product
12.5.1.8.2 Saudi Arabia Genotyping Market by Technology
12.5.1.8.3 Saudi Arabia Genotyping Market by Application
12.5.1.8.4 Saudi Arabia Genotyping Market by End User
12.5.1.9 Qatar
12.5.1.9.1 Qatar Genotyping Market by Product
12.5.1.9.2 Qatar Genotyping Market by Technology
12.5.1.9.3 Qatar Genotyping Market by Application
12.5.1.9.4 Qatar Genotyping Market by End User
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Genotyping Market by Product
12.5.1.10.2 Rest of Middle East Genotyping Market by Technology
12.5.1.10.3 Rest of Middle East Genotyping Market by Application
12.5.1.10.4 Rest of Middle East Genotyping Market by End User
12.5.2. Africa
12.5.2.1 Africa Genotyping Market by country
12.5.2.2 Africa Genotyping Market by Product
12.5.2.3 Africa Genotyping Market by Technology
12.5.2.4 Africa Genotyping Market by Application
12.5.2.5 Africa Genotyping Market by End User
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Genotyping Market by Product
12.5.2.6.2 Nigeria Genotyping Market by Technology
12.5.2.6.3 Nigeria Genotyping Market by Application
12.5.2.6.4 Nigeria Genotyping Market by End User
12.5.2.7 South Africa
12.5.2.7.1 South Africa Genotyping Market by Product
12.5.2.7.2 South Africa Genotyping Market by Technology
12.5.2.7.3 South Africa Genotyping Market by Application
12.5.2.7.4 South Africa Genotyping Market by End User
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Genotyping Market by Product
12.5.2.8.2 Rest of Africa Genotyping Market by Technology
12.5.2.8.3 Rest of Africa Genotyping Market by Application
12.5.2.8.4 Rest of Africa Genotyping Market by End User
12.6. Latin America
12.6.1 Latin America Genotyping Market by country
12.6.2 Latin America Genotyping Market by Product
12.6.3 Latin America Genotyping Market by Technology
12.6.4 Latin America Genotyping Market by ABC
12.6.5 Latin America Genotyping Market by End User
12.6.6 Brazil
12.6.6.1 Brazil Genotyping Market by Product
12.6.6.2 Brazil Genotyping Market by Technology
12.6.6.3 Brazil Genotyping Market by Application
12.6.6.4 Brazil Genotyping Market by End User
12.6.7 Argentina
12.6.7.1 Argentina Genotyping Market by Product
12.6.7.2 Argentina Genotyping Market by Technology
12.6.7.3 Argentina Genotyping Market by Application
12.6.7.4 Argentina Genotyping Market by End User
12.6.8 Colombia
12.6.8.1 Colombia Genotyping Market by Product
12.6.8.2 Colombia Genotyping Market by Technology
12.6.8.3 Colombia Genotyping Market by Application
12.6.8.4 Colombia Genotyping Market by End User
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Genotyping Market by Product
12.6.9.2 Rest of Latin America Genotyping Market by Technology
12.6.9.3 Rest of Latin America Genotyping Market by Application
12.6.9.4 Rest of Latin America Genotyping Market by End User
13 Company Profile
13.1 Illumina Inc.
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Thermo Fisher Scientific Inc.
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 QIAGEN
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Hoffmann-La Roche Ltd.
13.4 Company Overview
13.4.2 Financials
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Fluidigm Corporation
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Danaher Corporation
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Agilent Technologies
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Eurofins Scientific Inc.
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 GE Healthcare Inc.
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Bio-Rad Laboratories Inc.
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Others
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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The Point of Care Diagnostics/Testing Market Size was valued at USD 44.5 billion in 2023 and is expected to reach USD 70.92 billion by 2031 and grow at a CAGR of 6% over the forecast period 2024-2031.
The mRNA Therapeutics Market Size, valued at USD 40.0 Billion in 2023, is projected to grow to USD 46.5 Billion by 2032 at a 1.7% CAGR.
The Anti-Inflammatory Drugs Market Size was valued at USD 95.23 billion in 2023, and is expected to reach USD 177 billion by 2032, and grow at a CAGR of 7.13% over the forecast period 2024-2032.
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