Immunohematology Market

Immunohematology Market Size by Product (Reagents, Analyzers), Application (Pretransfusion Testing, Investigation of Immune Hemolysis, Perinatal Testing, Blood group Phenotyping/ Genotyping, Leucocyte and platelet Serology), Disease, End User, Region, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12544
  • Published Date: Oct, 2021
  • Pages: 239
  • Category: Healthcare
  • Format: PDF
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Global immunohematology market is expected to reach USD 3.58 billion by 2028, at a CAGR of 5.92% from 2021 to 2028. Global Immunohematology market is witnessing a considerable growth owing to rise in awareness about the importance of blood transfusion, and increasing number of trauma cases.

Market Overview:

Immunohematology is the study of antigens in blood cells and antibodies in the plasma. There are around 230 types of antigens present in the blood cells, which are categorized into two based on their chemical structure. They are carbohydrates and polypeptides. The patient who will go through transfusion has to be tested for ABO and RhD blood group. The presence of any antibodies will also be tested. That may cause reaction between plasma and donor blood cells. There are many tests to detect and identify the antibody present in the patient; they are from simple tube to gel tests to elution techniques etc. The same test will also identify the antigen present in the patient blood cell. The increasing cases of haematological diseases like anaemia, HIV etc. Increasing number of trauma cases, increasing awareness about the blood transfusion and related diseases are some of the factors that drive this market. Immunohematological tests is used for safe blood transfusion and haematopoietic tissue transplantation. This test prevent unwanted immune-related phenomena after transfusion or transplantation. The government in the developed and developing countries are investing in the blood bank. This factor is also driving the Immunohematology devices market. The technological advancement in this market have led to many new diagnostic approaches like the vitro study, which is the blood compatibility study of donor and receiver. Also, new developed testing devices and many new transfusion techniques have evolved with the technological advancement. The big players are working on improving the safety and the longevity of the blood stored in the blood bank with the advancement in immunohematology devices. However, High initial investment, lack of awareness about the technologies and the devices in the developing countries are acting as a restraint for the market.

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Market Dynamics:

Drivers:
  • Rise in  awareness about the importance of blood transfusion 

The increase in awareness among the people about the blood donation activities and the importance of blood transfusion in saving the life of the patient are the factors driving the immunohematology market. This awareness has increased the events associated with blood collection is generating a huge demand globally. This, in turn, drives the immunohematology market.

  • The increasing number of trauma cases, increasing demand for platelets, plasma factors and immunoglobin

The increase in the number of cases for haematological diseases like anaemia, HIV etc., increasing number of trauma cases, increasing awareness about the blood transfusion and related diseases are some of the factors that drive this market. Immunohematological tests is used for safe blood transfusion and haematopoietic tissue transplantation. The government and private institutions are also taking initiatives for the establishment of many blood banks globally. This would certainly increase the demand for immunohematology devices and in turn, drive the market.

Restraints:
  • High initial investments

The increase in the demand for immunohematology device market and in the number of blood bank globally are some of the factors that are driving this market. However, there is a huge investment needed by the company in the R&D and technology department in order to come up with a new solution. This all factors are acting as a restraint for the market.

Opportunities:
  • Blood donations in developed countries

It also discovered that high-income countries, for instance, the USA & U.K., are responsible for an over 50 percent share in the blood donations collected globally. This shows lucrative opportunities for payers. A surge in the number ofblood banks, blood donors, and blood collection events in various countries will provide the growth of the market.

Segmentation Analysis:

The global Immunohematology market has been segmented based on product, application, disease, end user and regions.

  • The product segment is divided into reagents and analyzers. Reagents segment is accounted for the highest market share of 63.28% in 2020. The segment seems to register the highest CAGR during the forecast period. The technological advancement in this market have led to many new diagnostic approaches like the vitro study, which is the blood compatibility study of donor and receiver. Also, new developed testing devices and many new transfusion techniques have evolved with the technological advancement. The big players are working on improving the safety and the longevity of the blood stored in the blood bank with the advancement in immunohematology devices.
  • The application segment includes pretransfusion testing, investigation of immune hemolysis, perinatal testing, blood group phenotyping / genotyping and leucocyte and platelet serology. The Investigation of immune hemolysis accounts for 28.28% of market share in 2020. Most immunohematology devices are utilized to test antigen-antibody reaction that can lead to hemolysis or RBC agglutination. Ultimately, through immunohematology tests, acquired antibodies to RBC antigens are identified, which are generated due to any kind of exposure to foreign RBCs. Leading players in the immunohematology are presenting technologically advanced immunohematology devices to progress the reliability of various tests and services performed at end-user organizations, such as laboratories and hospitals.
  • The disease segment includes blood-related diseases, HIV and hepatitis. The HIV segment accounted for the largest share of the market in 2020, which is 38.18%. Immunohematology is commonly known as blood banking, which deals with the preparation of blood components for transfusion. It aids in the reduction of transfusion-related fatalities, such as HIV and thalassemia.
  • The end-user segment includes hospitals, blood banks and diagnostic laboratories. The hospital segment is expected to have the highest market share of around 39.23% in 2020. This is due to the great demand for immunohematology devices in the hospital
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America is accounted for the highest market share of around 34.83% in 2020.

  • North America is accounted for the highest market share in 2020. This is due to the most advanced healthcare infrastructure in the region and increase in the preference for automated devices.
  • Europe held the second-highest market share of 29.24% in 2020. This is due the better infrastructure in the region and more awareness among the people.

North America Immunohematology Market Share in 2020- 34.83%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global immunohematology industry.

In April 2018, Immucor announced Echo LumenaTM had got FDA clearance in the US. This is designed for the small to mid-volume laboratory segment. This gives better performance and clearer test results with its smallest benchtop footprint and the fastest type and screen turnaround time.

List of Key Market Players:

  • Siemens Healthcare GmbH
  • Bio-Rad Laboratories
  • Ortho Clinical Diagnostics
  • Grifols
  • Immucor
  • Abbott laboratories
  • Beckman Coulter
  • ThermoFisher
  • Becton Dickinson
  • Merck KGaA

Key Target Audience

  • Hospitals
  • Blood Banks
  • Government Authorities
  • Diagnostic laboratories

Report Description:

  • Global Immunohematology Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global Immunohematology market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Immunohematology market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of product, application, disease, end user and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Immunohematology market.  This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global Immunohematology market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Immunohematology market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the immunohematology market was valued at USD 2.09 billion in 2020 and is anticipated to reach USD 3.58 billion by 2028.

Global immunohematology market is growing at a CAGR of 5.92% during the forecast period 2021-2028.

Theglobal Immunohematology market has been segmented based on product, application, disease, end user and regions. The HIV segment accounted for the largest share of the market in 2020.

The North America region emerged as the largest market for the immunohematology.

Growing awareness about the importance of blood transfusion is the key driving factor for the immunohematology market.

High initial investments, inadequate reimbursements of high-tech devices could hamper the market growth.

Blood donations in developed countries industries will provide huge opportunities to the market.

Key players are Siemens Healthcare GmbH, Bio-Rad Laboratories, Ortho Clinical Diagnostics, Grifols, Immucor, Abbott laboratories.

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 Type
          4.3.2. Market Attractiveness Analysis By Route of Administration
          4.3.3. Market Attractiveness Analysis By Application
          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. Rising incidences of multiple sclerosis
          5.2.2. Increasing adoption of immunomodulator therapy for the treatment of Crohn's disease
    5.3. Restrains
          5.3.1. Adverse side effects of immunomodulator drugs
    5.4. Opportunities
          5.4.1. Increasing R&D activities
    5.5. Challenges
          5.5.1. Stringent government regulations for the approval and launch of the drug

6. Global Immunohematology Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Immunosuppressants
          6.2.1. Calcineurin Inhibitors
          6.2.2. Antibodies
          6.2.3. Antimetabolites
          6.2.4. Glucocorticoids
          6.2.5. Others
    6.3. Immunostimulants
          6.3.1. Vaccines
          6.3.2. Antibodies
          6.3.3. Others

7. Global Immunohematology Market Analysis and Forecast, By Route of Administration
    7.1. Segment Overview
    7.2. Oral
    7.3. Injectable
    7.4. Intravenous

8. Global Immunohematology MarketAnalysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Respiratory
    8.3. Human Immunodeficiency Virus (HIV)
    8.4. Oncology
    8.5. Others

9. Global Immunohematology MarketAnalysis 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 Immunohematology Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Immunohematology 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. Hoffmann-La Roche Ltd.
          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. Amgen Inc.
          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. Abbott Laboratories
          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. Johnson & Johnson
          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. Novartis AG
          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. Bristol-Myers Squibb Company
          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. Merck & Co.
          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. Eli Lilly and Company
          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. Pfizer Inc.
          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. Biogen Inc.
          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. Teva Pharmaceuticals
          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. Pandion Therapeutics, Inc.
          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. aTyr Pharma, Inc.
          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
 

List of Table

1. Global Immunohematology Market, By Type, 2018-2028   (USD Billion)

2. Global Immunosuppressants Immunohematology Market, By Region, 2018-2028   (USD Billion)

3. Global Immunostimulants Immunohematology Market, By Region, 2018-2028   (USD Billion)

4. Global Immunohematology Market, By Route of Administration, 2018-2028   (USD Billion)

5. Global Oral Immunohematology Market, By Region, 2018-2028   (USD Billion)

6. Global Injectable Immunohematology Market, By Region, 2018-2028   (USD Billion)

7. Global Intravenous Immunohematology Market, By Region, 2018-2028   (USD Billion)

8. Global Immunohematology Market, By Application, 2018-2028   (USD Billion)

9. Global Respiratory Immunohematology Market, By Region, 2018-2028   (USD Billion)

10. Global Human Immunodeficiency Virus (HIV) Immunohematology Market, By Region, 2018-2028 (USD Billion)

11. Global Oncology Immunohematology Market, By Region, 2018-2028  (USD Billion)

12. Global Others Immunohematology Market, By Region, 2018-2028  (USD Billion)

13. Global Immunohematology Market, By Region, 2018-2028  (USD Billion)

14. Global Immunohematology Market, By North America, 2018-2028  (USD Billion)

15. North America Immunohematology Market, By Type, 2018-2028  (USD Billion)

16. North America Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

17. North America Immunohematology Market, By Application, 2018-2028 (USD Billion)

18. U.S. Immunohematology Market, By Type, 2018-2028  (USD Billion)

19. U.S. Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

20. U.S. Immunohematology Market, By Application, 2018-2028  (USD Billion)

21. Canada Immunohematology Market, By Type, 2018-2028  (USD Billion)

22. Canada Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

23. Canada Immunohematology Market, By Application, 2018-2028 (USD Billion)

24. Mexico Immunohematology Market, By Type, 2018-2028   (USD Billion)

25. Mexico Immunohematology Market, By Route of Administration, 2018-2028   (USD Billion)

26. Mexico Immunohematology Market, By Application, 2018-2028  (USD Billion)

27. Europe Immunohematology Market, By Type, 2018-2028  (USD Billion)

28. Europe Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

29. Europe Immunohematology Market, By Application, 2018-2028  (USD Billion)

30. Germany Immunohematology Market, By Type, 2018-2028  (USD Billion)

31. Germany Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

32. Germany Immunohematology Market, By Application, 2018-2028  (USD Billion)

33. France Immunohematology Market, By Type, 2018-2028   (USD Billion)

34. France Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

35. France Immunohematology Market, By Application, 2018-2028  (USD Billion)

36. U.K. Immunohematology Market, By Type, 2018-2028   (USD Billion)

37. U.K. Immunohematology Market, By Route of Administration, 2018-2028   (USD Billion)

38. U.K. Immunohematology Market, By Application, 2018-2028  (USD Billion)

39. Italy Immunohematology Market, By Type, 2018-2028  (USD Billion)

40. Italy Immunohematology Market, By Route of Administration, 2018-2028  (USD Billion)

41. Italy Immunohematology Market, By Application, 2018-2028 (USD Billion)

42. Spain Immunohematology Market, By Type, 2018-2028 (USD Billion)

43. Spain Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

44. Spain Immunohematology Market, By Application, 2018-2028 (USD Billion)

45. Asia Pacific Immunohematology Market, By Type, 2018-2028 (USD Billion)

46. Asia Pacific Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

47. Asia Pacific Immunohematology Market, By Application, 2018-2028 (USD Billion)

48. Japan Immunohematology Market, By Type, 2018-2028 (USD Billion)

49. Japan Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

50. Japan Immunohematology Market, By Application, 2018-2028 (USD Billion)

51. China Immunohematology Market, By Type, 2018-2028 (USD Billion)

52. China Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

53. China Immunohematology Market, By Application, 2018-2028 (USD Billion)

54. India Immunohematology Market, By Type, 2018-2028 (USD Billion)

55. India Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

56. India Immunohematology Market, By Application, 2018-2028 (USD Billion)

57. South America Immunohematology Market, By Type, 2018-2028 (USD Billion)

58. South America Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

59. South America Immunohematology Market, By Application, 2018-2028 (USD Billion)

60. Brazil Immunohematology Market, By Type, 2018-2028 (USD Billion)

61. Brazil Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

62. Brazil Immunohematology Market, By Application, 2018-2028 (USD Billion)

63. Middle East and Africa Immunohematology Market, By Type, 2018-2028 (USD Billion)

64. Middle East and Africa Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

65. Middle East and Africa Immunohematology Market, By Application, 2018-2028   (USD Billion)

66. UAE Immunohematology Market, By Type, 2018-2028 (USD Billion)

67. UAE Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

68. UAE Immunohematology Market, By Application, 2018-2028 (USD Billion)

69. South Africa Immunohematology Market, By Type, 2018-2028 (USD Billion)

70. South Africa Immunohematology Market, By Route of Administration, 2018-2028 (USD Billion)

71. South Africa Immunohematology Market, By Application, 2018-2028 (USD Billion)

List of Figures 

1. Global Immunohematology Market Segmentation

2. Immunohematology Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Immunohematology Market Attractiveness Analysis By Type

9. Global Immunohematology Market Attractiveness Analysis By Route of Administration

10. Global Immunohematology Market Attractiveness Analysis By Application

11. Global Immunohematology Market Attractiveness Analysis By Region

12. Global Immunohematology Market: Dynamics

13. Global Immunohematology Market Share By Type (2021 & 2028  )

14. Global Immunohematology Market Share By Route of Administration (2021 & 2028  )

15. Global Immunohematology Market Share By Application(2021 & 2028  )

16. Global Immunohematology Market Share by Regions (2021 & 2028  )

17. Global Immunohematology Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global Immunohematology market on the basis of below mentioned segments:

Global Immunohematology Market by Product:

  • Reagents
  • Analyzers

Global Immunohematology Market by Application:

  • Pretransfusion testing
    •   ABO and Rh Typing
    •   Antibody Detection
    •   Cross matching
  • Investigation of immune hemolysis
  • Perinatal testing
  • Blood group Phenotyping / genotyping
  • Leucocyte and platelet Serology

Global Immunohematology Market by Disease:

  • Blood-related diseases
  • HIV
  • Hepatitis

Global Immunohematology Market by End User:

  • Hospitals
  • Blood banks
  • Diagnostic laboratories

Global Immunohematology Market 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.

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