Hemoglobin Testing Market

Hemoglobin Testing Market Size by Technology (Immunoassay, Spectrophotometry, Chromatography, and Others), Product Type (Point-of-Care, Automated Hematology Analyzers, Consumables, and Reagents), By End-User (Clinics, Hospitals, Home Care Settings, Laboratories, Blood Banks, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13325
  • Published Date: Feb, 2023
  • Pages: 234
  • Category: Healthcare
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global hemoglobin testing market was valued at USD 2.53 billion in 2022, increasing at a CAGR of 6.86% from 2022 to 2032 and anticipated to reach USD 4.92 billion by 2032. Asia Pacific is expected to grow the fastest during the forecast period. Also, the rising prevalence of chronic diseases, including diabetes and anemia, rising demand for blood tests by the geriatric population, and an increasing number of healthcare investments are expected to drive market growth during the forecast period.

Market Introduction:

A hemoglobin test measures the count of red blood cells or the level of hemoglobin in the blood. Hemoglobin is a kind of protein present in the red blood cells (RBCs) that carries oxygen to the organs and transports carbon dioxide back to the lungs. If a test reveals that the hemoglobin level in a person’s body is lower than normal, it means that they have a low red blood cells count and are prone to disorders such as anemia. Hemoglobin testing is the procedure of carrying out diagnostic tests to detect the levels of hemoglobin in the patient’s blood. Hemoglobin tests are used broadly by doctors as a part of their routine check-ups or to analyze a serious medical condition in the patient.

Hemoglobin Testing Market Size

Get an overview of this study by requesting a free sample

Recent Development

For example, in January 2019, Abbott Laboratories Company signed an agreement to acquire Cephea Valve Technologies. The company is engaged in providing catheter-delivered mitral valve regurgitation products/heart.

Market Dynamics:

Drivers

The increase in the number of diabetic people: The increasing number of procedures, such as blood transfusion and bone marrow stem cell transplantation is one of the driving factors of the market growth. Also, the favorable government policies for the support of diabetes testing & management, along with the rising number of blood donors, are driving factors of the market growth. Moreover, the growing demand for rapid POCT, the increasing awareness of POC HbA1c testing, the expanding adoption of insulin delivery devices, and the rising prevalence of diabetes are also helping to propel the market growth. Additionally, the adoption of smart devices and technological advancements such as the use of data analytics & AI  are expected to push the market growth over the upcoming year. Besides, the increasing awareness about diabetes, easy availability of diabetes devices, technological advancements in diabetes monitoring devices, and rising personal disposable income is also propelling the market growth.

Restraints:

The shortage of skilled professionals: The availability of substitutes and stringent environmental norms are also hindering the market growth. Further, the absence of experienced professionals and the lack of healthcare infrastructure in developing economies are restraining the market growth during the forecast period. Additionally, product recalls due to inaccuracy and irregularities in hemoglobin testing are restraining the market growth. Moreover, the increasing costs of hematology diagnostics & inadequate healthcare insurance coverage for these diagnostic methods in multiple parts of the world are anticipated to hinder the market growth.

Opportunities:

The technological advancements in hemoglobin testing devices: Diagnostic and hospital centers are increasingly adopting automated hematology analyzers to deliver accurate & rapid test results, which is an opportunity factor for market growth. Further, the favorable reimbursement of hemoglobin testing under different health insurance policies is expected to propel the market growth during the forecast period. Moreover, the increasing establishment of clinics across developed and developing economies stimulate market growth.

Regional segmentation analysis:

The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. North America emerged as the largest global hemoglobin testing market, with a 49.27% market revenue share in 2022. North America dominates the hemoglobin testing market due to the increasing incidence of diabetes in regions such as Canada & United States. Further, the rise in the prevalence of thalassemia and other chronic blood disorders is also helping to boost the market growth. Apart from this, the increase in the number of diagnostic centers for the detection of hemoglobin levels and diagnosis of various hemoglobinopathies are also driving factors of the market growth in this region. Also, the presence of a large geriatric population in this region, along with sophisticated healthcare infrastructure & relatively higher disposable income levels, is expected to push the market growth in this region.

Additionally, the Asia Pacific is expected to grow the fastest during the forecast period due to the increasing awareness among people about diseases like diabetes. Further, the rise in the prevalence of thalassemia and other chronic blood disorders is expected to drive market growth in this region. Moreover, the unmet medical needs and the increase in the prevalence and incidence of diabetes are propelling the market growth in this region. Additionally, the rising investment in research and growth in countries such as Japan, China, and India by local medical device corporations are also helping to drive market growth in this region over the forecast period.

North America Region Hemoglobin Testing Market Share in 2022 - 49.27%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

Technology segment analysis

The technology segment is divided into immunoassay, spectrophotometry, chromatography, and others. The spectrophotometry segment dominated, with a market share of around 32.15% in 2022. This growth is attributed to the developing of new advanced technology for novel applications. Further, by 2032, the chromatography segment will likely dominate the market due to the increasing investment and funding for life sciences research. Additionally, the high demand for immunoassay reagents & kits for diagnosis purposes, along with the rising prevalence of infectious and autoimmune diseases, is helping to boost the immunoassay segment’s market growth.

Product type segment analysis

The product type segment is divided into point-of-care, automated hematology analyzers, consumables, and reagents. In 2022, the point-of-care segment dominated the market with 31.18% and a revenue of 0.78 billion. This growth is attributed to the increasing disease among the population and raised demands for medical diagnostic kits to detect the disease quickly. Additionally, the point-of-care test markets are very normal and easy, and the patient can perform the test sitting in one place. Further, by 2032, the automated hematology analyzers segment will likely dominate the market due to the increasing prevalence of blood disorders. Additionally, the growing preference towards high-sensitivity hematology analyzers, along with the technological advancements in hematology analyzers, are also helping to boost the segment’s market growth.

End-user segment analysis

The end-user segment is divided into clinics, hospitals, home care settings, laboratories, blood banks, and others. In 2022, the hospital segment dominated the market with 23.12% and a revenue of 0.58 billion. This growth is attributed to the presence of state-of-the-art facilities. Additionally, the rising preference among the population of developing economies for hospitals due to cost efficiency is also helping to boost the segment’s market growth. Further, by 2032, the home care settings segment will likely dominate the market due to the ever-increasing awareness regarding home care services and devices. Moreover, the increasing number of chronic diseases and increased utilization of laboratory testing samples is also helping boost the laboratories segment’s market growth.

Some of the Key Market Players:
  • Masimo
  • DiaSys Diagnostic Systems
  • Bayer Medical Care
  • ARKRAY
  • Beckman Coulter Diagnostics
  • Fisher Scientific
  • Diazyme Laboratories
  • Abbott Laboratories
  • EKF Diagnostics Holdings
  • Danaher
  • ACON Laboratories
  • Daiichi Biotech
  • F. Hoffmann-La Roche
  • Epinex Diagnostics
  • Erba Diagnostics
  • Radiometer
  • Sysmex Corporation
  • Alere
  • Bio-Rad Laboratories

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 2.53 Billion
Market size value in 2032 USD 4.92 Billion
CAGR (2023 to 2032) 6.86%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa.
Segments Key Segments are technology, product type, end-user and regions

Frequesntly Asked Questions

North America region emerged as the largest market for hemoglobin testing.

The market's growth will be influenced by the increase in the number of diabetic people.

The dearth of skilled professionals could hamper the market growth.

The technological advancements in hemoglobin testing devices will provide huge opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Technology
          4.3.2. Market Attractiveness Analysis By Product Type
          4.3.3. Market Attractiveness Analysis By End-User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing prevalence of blood disorders including cancer
          5.2.2. The increase in the number of diabetic people
          5.2.3. The rising geriatric population
    5.3. Restraints
          5.3.1. The high cost and maintenance of hemoglobin testing
          5.3.2. The dearth of skilled professionals
          5.3.3. The lack of healthcare infrastructure in developing economies
    5.4. Opportunities
          5.4.1. The increasing research and development activities
          5.4.2. The technological advancements in hemoglobin testing devices
          5.4.3. The rising awareness for blood-related ailments

6. Global Hemoglobin Testing Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Immunoassay
    6.3. Spectrophotometry
    6.4. Chromatography
    6.5. Others

7. Global Hemoglobin Testing Market Analysis and Forecast, By Product Type
    7.1. Segment Overview
    7.2. Point-of-Care
    7.3. Automated Hematology Analyzers
    7.4. Consumables
    7.5. Reagents

8. Global Hemoglobin Testing Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Clinics
    8.3. Hospitals
    8.4. Home Care Settings
    8.5. Laboratories
    8.6. Blood Banks
    8.7. Others

9. Global Hemoglobin Testing Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Hemoglobin Testing Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Hemoglobin Testing Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Masimo
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. DiaSys Diagnostic Systems
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Bayer Medical Care
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. ARKRAY
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Beckman Coulter Diagnostics
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Fisher Scientific
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Diazyme Laboratories
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Abbott Laboratories
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. EKF Diagnostics Holdings
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Danaher
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. ACON Laboratories
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Daiichi Biotech
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. F. Hoffmann-La Roche
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Epinex Diagnostics
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Erba Diagnostics
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Radiometer
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
    11.17. Sysmex Corporation
          11.17.1. Business Overview
          11.17.2. Company Snapshot
          11.17.3. Company Market Share Analysis
          11.17.4. Company Product Portfolio
          11.17.5. Recent Developments
          11.17.6. SWOT Analysis
    11.18. Alere
          11.18.1. Business Overview
          11.18.2. Company Snapshot
          11.18.3. Company Market Share Analysis
          11.18.4. Company Product Portfolio
          11.18.5. Recent Developments
          11.18.6. SWOT Analysis
    11.19. Bio-Rad Laboratories
          11.19.1. Business Overview
          11.19.2. Company Snapshot
          11.19.3. Company Market Share Analysis
          11.19.4. Company Product Portfolio
          11.19.5. Recent Developments
          11.19.6. SWOT Analysis

List of Table

1. Global Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

2. Global Immunoassay, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion) 

3. Global Spectrophotometry, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion) 

4. Global Chromatography, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion) 

5. Global Others, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

6. Global Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

7. Global Point-of-Care, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

8. Global Automated Hematology Analyzers, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

9. Global Consumables, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

10. Global Reagents, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

11. Global Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

12. Global Clinics, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

13. Global Hospitals, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

14. Global Home Care Settings, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

15. Global Laboratories, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

16. Global Blood Banks, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

17. Global Others, Hemoglobin Testing Market, By Region, 2019-2032 (USD Billion)

18. North America Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

19. North America Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

20. North America Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

21. U.S. Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

22. U.S. Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

23. U.S. Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

24. Canada Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

25. Canada Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

26. Canada Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

27. Mexico Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

28. Mexico Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

29. Mexico Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

30. Europe Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

31. Europe Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

32. Europe Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

33. Germany Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

34. Germany Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

35. Germany Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

36. France Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

37. France Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

38. France Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

39. U.K. Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

40. U.K. Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

41. U.K. Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

42. Italy Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

43. Italy Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

44. Italy Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

45. Spain Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

46. Spain Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

47. Spain Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

48. Asia Pacific Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

49. Asia Pacific Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

50. Asia Pacific Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

51. Japan Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

52. Japan Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

53. Japan Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

54. China Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

55. China Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

56. China Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

57. India Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

58. India Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

59. India Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

60. South America Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

61. South America Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

62. South America Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

63. Brazil Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

64. Brazil Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

65. Brazil Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

66. Middle East and Africa Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

67. Middle East and Africa Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

68. Middle East and Africa Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

69. UAE Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

70. UAE Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

71. UAE Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

72. South Africa Hemoglobin Testing Market, By Technology, 2019-2032 (USD Billion)

73. South Africa Hemoglobin Testing Market, By Product Type, 2019-2032 (USD Billion)

74. South Africa Hemoglobin Testing Market, By End-User, 2019-2032 (USD Billion)

List of Figures 

1. Global Hemoglobin Testing Market Segmentation

2. Global Hemoglobin Testing Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top- Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Hemoglobin Testing Market Attractiveness Analysis By Technology

9. Global Hemoglobin Testing Market Attractiveness Analysis By Product Type 

10. Global Hemoglobin Testing Market Attractiveness Analysis By End-User

11. Global Hemoglobin Testing Market Attractiveness Analysis By Region

12. Global Hemoglobin Testing Market: Dynamics

13. Global Hemoglobin Testing Market Share By Technology (2023 & 2032)

14. Global Hemoglobin Testing Market Share By Product Type (2023 & 2032)

15. Global Hemoglobin Testing Market Share By End-User (2023 & 2032)

16. Global Hemoglobin Testing Market Share By Regions (2023 & 2032)

17. Global Hemoglobin Testing Market Share By Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global hemoglobin testing based on below mentioned segments:

Global Hemoglobin Testing Market by Technology:

  • Immunoassay
  • Spectrophotometry
  • Chromatography
  • Others

Global Hemoglobin Testing Market by Product Type:

  • Point-of-Care
  • Automated Hematology Analyzers
  • Consumables
  • Reagents

Global Hemoglobin Testing Market by End-User:

  • Clinics
  • Hospitals
  • Home Care Settings
  • Laboratories
  • Blood Banks
  • Others

Global Hemoglobin Testing by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date