Mammography Market

Mammography Market Size By Technology (Analog Mammography Systems and Digital Mammography Systems), and By Product (Film Screen Systems, Digital Systems, Analog Systems, Biopsy Systems, 3D Systems, and Others) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13705
  • Published Date: Sep, 2023
  • Pages: 238
  • Category: Healthcare
  • Format: PDF
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The global mammography market was valued at USD 3.5 billion in 2022, growing at a CAGR of 10.5% from 2023 to 2032. The market is expected to reach USD 9.49 billion by 2032. The increased prevalence of breast cancer and increasing patient desire for early-stage diagnosis are two significant factors expected to drive demand for breast cancer diagnostic technologies such as mammography throughout the forecast period.

Market Introduction:

Mammography is a non-invasive medical imaging and diagnostic method that uses low-dose X-rays to search for malignant tumour cells in breast tissues. A mammography exam, often known as a mammogram, highlights tiny tumours, cysts, and other breast anomalies using analogue, digital, computer-aided detection, and tomosynthesis methods. Screening mammography is used to look for abnormalities in the absence of symptoms, which can help with the early detection and treatment of a dangerous medical disease. A diagnostic mammography is frequently performed to examine any abnormal clinical findings. As a result, it's widely used in hospitals, specialist clinics, and diagnostic and ambulatory surgery centres. One of the primary factors driving the market's growth is the rising global prevalence of breast cancer.

Furthermore, increased public knowledge of various treatment options and the benefits of screening and early detection of breast cancer is propelling market expansion. Other growth-inducing aspects include technology developments such as creating new 3-dimensional, non-ionizing, and ionizing imaging technologies. Full-field digital mammography (FFDM) and Digital Breast Tomosynthesis (DBT) systems, for example, collect numerous images of the breast from various angles and integrate them into a 3D image set to generate results with more precision.

Mammography Market Size

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Recent Development

A deep learning-based programme called Genius AI Detection was FDA-approved in December 2020 by Hologic Inc., a company that develops, manufactures, and distributes high-quality diagnostics and clinical imaging equipment. Its goal is to assist radiologists in identifying common expected diseases in breast tomosynthesis images.

In November 2020, Hologic Inc. and RadNet announced a relationship to concentrate on advancing artificial intelligence arrangements in breast wellness. The agreement will include information exchange, inventive work, and the transformation of RadNet's fleet of Hologic mammography devices to cutting-edge imaging innovation.

In September 2020, GE Healthcare and Candelis Inc. announced a collaboration to expand mammography work processes, image executives, and capacity capabilities for the Senographe Pristina Mammography System.

In May 2022, At the SBI/ACR Breast Imaging Symposium 2022, Volpara Health unveiled updated solutions for its integrated platform for delivering personalized breast care. Volpara's artificial intelligence-powered breast software solutions offer mammography quality and reporting, volumetric breast density assessments, and cancer risk assessments.

In January 2022, ScreenPoint Medical increased its presence in the United States and 30 countries worldwide by launching Transpara, an AI Breast Care solution.

Market Dynamics:

Drivers

Rising Cases of Breast Cancer- The increased prevalence of breast cancer and expanding patient desire in early-stage detection are two significant factors projected to fuel interest in breast cancer demonstrative devices over the forecast period. Expanded access to breast cancer screening systems and expanding government initiatives to aid clinical understanding are two critical variables likely to promote market development. For example, the Health Resources and Services Administration (HRSA) has acquainted a medical services programme with increasing the screening methods in medically underserved areas.

Restraints:

Radiation- The hazards of radiation exposure and the creation of misleading positive or negative results are predicted to stymie market growth.

Opportunities:

Breast Cancer- The increasing prevalence of breast cancer worldwide is one of the primary factors driving the growth of the mammography market. According to WHO, over 627,000 women died worldwide in 2018 due to breast cancer, and it is also estimated that the rate of breast malignant development is higher among women in developed districts when contrasted with developing locations. Furthermore, according to Cancer Organisation India, breast and oral cavity disease accounted for 25.0% of malignant growth in women in 2018. Furthermore, according to the Susan G. Komen Breast Cancer Foundation, Inc., 41,760 women are expected to die from breast cancer in 2019.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global mammography market, with a 51% market revenue share in 2022.

North America is observed to hold a considerable proportion of the mammography market, and this trend is predicted to continue without notable fluctuations over the forecast period. The increased prevalence of breast cancer and the region's improved healthcare infrastructure will likely fuel market expansion over the forecast period.

According to the Breast Cancer Research Foundation in the United States, hospitals and institutions in most places are better prepared and safer now than in the early days of the COVID-19 pandemic. As a result, it has encouraged women to have their planned scans performed so that diagnosis is not delayed. According to the American Cancer Society, an estimated 276,480 new cases of invasive breast cancer among women will be detected in 2020. Furthermore, 48,530 women have been diagnosed with in situ breast carcinoma, and the number of breast cancer cases will likely rise in the coming years. Moreover, numerous corporations have launched programmes to support breast cancer examinations. For example, Hologic Inc. reported introducing the Back to Screen campaign in August 2020, which may motivate women to schedule their postponed mammograms due to the COVID-19 pandemic.

Launching and increasing usage of improved mammography machines with innovative technologies fuel growth. For example, FUJIFILM Canada Inc. got a Health Canada medical device licence for their ASPIRE Cristalle digital mammography solution in October 2021. It also expanded its cooperation with Christie Innomed to make the product available in all provinces across Canada.‚Äč

North America Region Mammography Market Share in 2022 - 51%

 

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Technology Segment Analysis

The technology segment is divided into analog mammography systems and digital mammography systems. The digital mammography systems segment dominated the market, with a market share of around 58% in 2022. Digital mammography is a specialized and advanced form of mammography that uses digital sensors and computers rather than X-ray films to evaluate breast tissue for the presence of malignancies. Most countries' screening programmes have relied on traditional screen-film mammography (SFM) with good spatial resolution. With the emergence of digital mammography, however, a growing number of countries are migrating towards these newer systems, owing to their superior depiction of low-contrast objects, broader dynamic change, and improved diagnostic quality of images, especially when examining denser breasts.

Product Segment Analysis

The product segment is divided into film screen systems, digital systems, analog systems, biopsy systems, 3D systems, and others. The 3D systems segment dominated the market, with a market share of around 36% in 2022. Due to various advantages, hospitals and diagnostic clinics are transitioning to 3D systems since 2D systems are frequently unsuccessful in identifying every indication of cancer, raising the need for additional screenings and, as a result, increasing the entire diagnostic cost. Furthermore, the broad adoption of 3D systems is due to technological advantages such as better breast cancer detection rates, management of larger operation volumes, and a more favourable reimbursement scenario.

Some of the Key Market Players:
  • Hologic
  • Fujifilm
  • Siemens Healthcare
  • Phillips Healthcare
  • Toshiba Medical Systems
  • GE Healthcare
  • Metaltronica
  • I.M.S. Srl
  • Koninklijke Philips NV
  • Gamma Medica, Inc.
  • Konica Minolta
  • Business Solutions India Private Limited
  • Carestream Health
  • BMI Biomedical International SRL
  • Canon Inc
  • MetaltronicaSp
  • PLANNED OY
  • GENERAL MEDICAL ITALIA
  • Villa Systems Medical SpA

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 3.5 Billion
Market size value in 2032 USD 9.49 Billion
CAGR (2023 to 2032) 10.5%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Technology, Product

Frequesntly Asked Questions

As per The Brainy Insights, the size of the mammography market was valued at USD 3.5 billion in 2022 to USD 9.49 billion by 2032.

The global mammography market is growing at a CAGR of 10.5% during the forecast period 2023-2032.

North America emerged as the largest mammography 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
          4.3.3. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising cases of breast cancer
    5.3. Restraints
          5.3.1. Radiation
    5.4. Opportunities
          5.4.1. Breast cancer
    5.5. Challenges
          5.5.1. High cost

6. Global Mammography Market Analysis and Forecast, By Technology
    6.1. Segment Overview
    6.2. Analog Mammography Systems
    6.3. Digital Mammography Systems

7. Global Mammography Market Analysis and Forecast, By Product
    7.1. Segment Overview
    7.2. Film Screen Systems
    7.3. Digital Systems
    7.4. Analog Systems
    7.5. Biopsy Systems
    7.6. 3D Systems
    7.7. Others

8. Global Mammography Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Mammography Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Mammography Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Hologic
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Fujifilm
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Siemens Healthcare
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Phillips Healthcare
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Toshiba Medical Systems
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. GE Healthcare
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Metaltronica
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. I.M.S. Srl
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Koninklijke Philips NV
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Gamma Medica, Inc.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Konica Minolta
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Business Solutions India Private Limited
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Carestream Health
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. BMI Biomedical International SRL
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Product Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Canon Inc
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Product Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis
    10.16. MetaltronicaSpA
          10.16.1. Business Overview
          10.16.2. Company Snapshot
          10.16.3. Company Market Share Analysis
          10.16.4. Company Product Portfolio
          10.16.5. Recent Developments
          10.16.6. SWOT Analysis
    10.17. PLANNED OY
          10.17.1. Business Overview
          10.17.2. Company Snapshot
          10.17.3. Company Market Share Analysis
          10.17.4. Company Product Portfolio
          10.17.5. Recent Developments
          10.17.6. SWOT Analysis
    10.18. GENERAL MEDICAL ITALIA
          10.18.1. Business Overview
          10.18.2. Company Snapshot
          10.18.3. Company Market Share Analysis
          10.18.4. Company Product Portfolio
          10.18.5. Recent Developments
          10.18.6. SWOT Analysis
    10.19. Villa Systems Medical SpA
          10.19.1. Business Overview
          10.19.2. Company Snapshot
          10.19.3. Company Market Share Analysis
          10.19.4. Company Product Portfolio
          10.19.5. Recent Developments
          10.19.6. SWOT Analysis
 

List of Table

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

2. Global Analog Mammography Systems, Mammography Market, By Region, 2019-2032 (USD Billion) 

3. Global Digital Mammography Systems, Mammography Market, By Region, 2019-2032 (USD Billion)  

4. Global Mammography Market, By Product, 2019-2032 (USD Billion)

5. Global Film Screen Systems, Mammography Market, By Region, 2019-2032 (USD Billion)

6. Global Digital Systems, Mammography Market, By Region, 2019-2032 (USD Billion)

7. Global Analog Systems, Mammography Market, By Region, 2019-2032 (USD Billion)

8. Global Biopsy Systems, Mammography Market, By Region, 2019-2032 (USD Billion)

9. Global 3D Systems, Mammography Market, By Region, 2019-2032 (USD Billion)

10. Global Others, Mammography Market, By Region, 2019-2032 (USD Billion)

11. North America Mammography Market, By Technology, 2019-2032 (USD Billion)

12. North America Mammography Market, By Product, 2019-2032 (USD Billion)

13. U.S. Mammography Market, By Technology, 2019-2032 (USD Billion)

14. U.S. Mammography Market, By Product, 2019-2032 (USD Billion)

15. Canada Mammography Market, By Technology, 2019-2032 (USD Billion)

16. Canada Mammography Market, By Product, 2019-2032 (USD Billion)

17. Mexico Mammography Market, By Technology, 2019-2032 (USD Billion)

18. Mexico Mammography Market, By Product, 2019-2032 (USD Billion)

19. Europe Mammography Market, By Technology, 2019-2032 (USD Billion)

20. Europe Mammography Market, By Product, 2019-2032 (USD Billion)

21. Germany Mammography Market, By Technology, 2019-2032 (USD Billion)

22. Germany Mammography Market, By Product, 2019-2032 (USD Billion)

23. France Mammography Market, By Technology, 2019-2032 (USD Billion)

24. France Mammography Market, By Product, 2019-2032 (USD Billion)

25. U.K. Mammography Market, By Technology, 2019-2032 (USD Billion)

26. U.K. Mammography Market, By Product, 2019-2032 (USD Billion)

27. Italy Mammography Market, By Technology, 2019-2032 (USD Billion)

28. Italy Mammography Market, By Product, 2019-2032 (USD Billion)

29. Spain Mammography Market, By Technology, 2019-2032 (USD Billion)

30. Spain Mammography Market, By Product, 2019-2032 (USD Billion)

31. Asia Pacific Mammography Market, By Technology, 2019-2032 (USD Billion)

32. Asia Pacific Mammography Market, By Product, 2019-2032 (USD Billion)

33. Japan Mammography Market, By Technology, 2019-2032 (USD Billion)

34. Japan Mammography Market, By Product, 2019-2032 (USD Billion)

35. China Mammography Market, By Technology, 2019-2032 (USD Billion)

36. China Mammography Market, By Product, 2019-2032 (USD Billion)

37. India Mammography Market, By Technology, 2019-2032 (USD Billion)

38. India Mammography Market, By Product, 2019-2032 (USD Billion)

39. South America Mammography Market, By Technology, 2019-2032 (USD Billion)

40. South America Mammography Market, By Product, 2019-2032 (USD Billion)

41. Brazil Mammography Market, By Technology, 2019-2032 (USD Billion)

42. Brazil Mammography Market, By Product, 2019-2032 (USD Billion)

43. Middle East and Africa Mammography Market, By Technology, 2019-2032 (USD Billion)

44. Middle East and Africa Mammography Market, By Product, 2019-2032 (USD Billion)

45. UAE Mammography Market, By Technology, 2019-2032 (USD Billion)

46. UAE Mammography Market, By Product, 2019-2032 (USD Billion)

47. South Africa Mammography Market, By Technology, 2019-2032 (USD Billion)

48. South Africa Mammography Market, By Product, 2019-2032 (USD Billion)

List of Figures 

1. Global Mammography Market Segmentation

2. Global Mammography 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 Mammography Market Attractiveness Analysis by Technology

9. Global Mammography Market Attractiveness Analysis by Product

10. Global Mammography Market Attractiveness Analysis by Region

11. Global Mammography Market: Dynamics

12. Global Mammography Market Share by Technology (2023 & 2032)

13. Global Mammography Market Share by Product (2023 & 2032)

14. Global Mammography Market Share by Regions (2023 & 2032)

15. Global Mammography Market Share by Company (2022)

This study forecasts global, regional, and country revenue from 2019 to 2032. The Brainy Insights has segmented the global mammography market based on the below-mentioned segments:

Global Mammography Market By Technology:

  • Analog Mammography Systems
  • Digital Mammography Systems

Global Mammography Market By Product:

  • Film Screen Systems
  • Digital Systems
  • Analog Systems
  • Biopsy Systems
  • 3D Systems
  • Others

Global Mammography 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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