Point of Care Coagulation Testing Devices Market

Point of Care Coagulation Testing Devices Market Size by Device Type (Anticoagulation Monitoring Devices, Viscoelastic Function Monitoring Devices, Platelet Function Monitoring Devices, Other Monitoring Devices), End-user (Home Care, Hospitals and Clinics, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12648
  • Published Date: Jan, 2022
  • Pages: 226
  • Category: Healthcare
  • Format: PDF
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Global Point of Care Coagulation Testing Devices market is expected to reach USD 2.95 Billion by 2030, at a CAGR of 6.3% from 2021 to 2030. The primary drivers of growth in the global point-of-care coagulation testing devices market are multiple waves of pandemic across the globe, relative savings on the high cost of hospitalization, advancement in technology in the portable testing devices segment and increasing cases of bleeding disorders.

Market Overview:

The rapid specific testing of bodily fluids at the bedside is known as point-of-care testing. Sending all samples and specimens to medical laboratories for processing involves a long wait for results. This might result in time being spent in important situations or patients being treated without their care team having all the information they require. Instead, Point-of-care testing makes it much easier to get accurate and timely results. Medical professionals can make more informed decisions about a patient's treatment and care now that these results are available. Point-of-care coagulation testing (POCCT) allows clinicians to assess a patient's coagulation status quickly and in real-time. Compared to standard coagulation assays, POCCT has various advantages. As a result, the use of POCCT in a range of clinical contexts, such as trauma, heart surgery, obstetrics, liver illness, and burns, is gaining popularity. Plasma is used in laboratory studies, although it can only provide information up to the first step of coagulation, till Fibrin production. Viscoelastic POCCT devices, however, provide information on every phase of coagulation. This information aids in the understanding of the interactions between the plasma and cellular components of whole blood and the fibrinolytic system's activity. This information is crucial for achieving successful hemostasis.

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Market Dynamics:

Drivers:
  • Increasing number of patients with bleeding disorders

The demand for POC coagulation testing is increasing due to an increase in the number of patients with bleeding diseases such as von willebrand disease, hemophilia, venous thromboembolism, and others. In addition, due to altering hemostatic balance among people as they age, a considerable increase in the number of senior patients suffering from bleeding problems has been documented. Demand for portable and simple-to-use testing devices is growing. The above factors, combined with market participants' introduction of enhanced point-of-care diagnostic devices, are driving global use of these testing equipment. As a result, the point of care coagulation testing devices market would grow faster over the forecast period.

Restraints:
  • High cost

Despite the many benefits of point-of-care coagulation testing devices over traditional coagulation analyzers, certain obstacles are limiting the global market's growth. One of them is the high cost of these devices in compared to less expensive laboratory assay testing. These costs, when combined with maintenance and battery costs, can result in higher annual costs for POC coagulation testing equipment. As a result, the expensive cost of these testing equipment, as well as a lack of favourable reimbursement policies, are two main obstacles limiting their adoption and expansion in emerging markets.

Opportunities:
  • Increased adoption of home healthcare

Another growing factor is the cost savings associated with using POCCT Devices instead of central laboratory testing for home treatment of disorders such as hemophilia. Furthermore, the market's leading players are developing technologically advanced goods to encourage individuals to use point of care coagulation testing devices in a homecare setting.

Segmentation Analysis:

The global point of care coagulation testing devices market has been segmented based on device type and end-user and regions.

  • The device type segment is divided into anticoagulation monitoring devices, viscoelastic function monitoring devices, platelet function monitoring devices, other monitoring devices. The viscoelastic function monitoring devices segment is expected to register the highest CAGR of around 7% over the forecast period. This segment is growing because of clinically established effectiveness in delivering information on blood clots during every phase of coagulation, which is critical for successful hemostasis.
  • The end-user segment includes home care, hospitals and clinics, others. The hospitals and clinics segment dominated the market with a market share around 44% in 2020 because of their established infrastructure and the use of POCCT devices in ICUs for fast results, hospitals and clinics have the largest market presence.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region emerged as the largest market for the point of care coagulation testing devices market with a 35.2% share of the market revenue in 2020.

  • The presence of a huge number of patients with bleeding disorders, higher per capita healthcare expenditure, and increased adoption of technologically advanced technologies are some of the primary factors contributing to North America's dominance.
  • Due to an increase in the number of people with hemophilia, Von Willebrand Disease (VWD), and other diseases, Asia Pacific is expected to develop at a faster CAGR. This, together with market participants' shifting focus to develop their direct presence in emerging countries like China and India, is likely to drive the region's growth. 

North America Point of Care Coagulation Testing Devices Market Share in 2020 - 35.2%

 

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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 point of care coagulation testing devices industry.

Siemens Healthineers' Xprecia Stride Coagulation Analyzer obtained FDA approval in 2017.

List of Key Market Players:

  • Abbott Laboratories
  • F. Hoffmann-La Roche AG
  • Haemonetics Corporation
  • HemoSonics
  • Koninklijke Philips N.V.
  • LLC
  • Medtronic plc
  • Micropoint Bioscience, Inc
  • Siemens Healthineers
  • Sienco, Inc.
  • Werfen

Key Target Audience

  • Global Point of Care Coagulation Testing Devices providers
  • Research organizations and consulting companies
  • Global Point of Care Coagulation Testing Devices suppliers
  • Government bodies such as regulating authorities and policymakers
  • Organizations, associations and alliances related to Point of Care Coagulation Testing Devices market
  • Industry associations
  • Market research and consulting firms

Report Description:

  • Global Point of Care Coagulation Testing Devices Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 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 2030 are the forecast years. The global point of care coagulation testing devices market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global point of care coagulation testing devices 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 point of care coagulation testing devices based on type, end-user and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and 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 point of care coagulation testing devices 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 point of care coagulation testing devices 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 act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global point of care coagulation testing devices market) is covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the point of care coagulation testing devices market was valued at USD 1.6 Billion in 2020 to USD 2.95 Billion by 2030.

Global Point of Care Coagulation Testing Devices market is growing at a CAGR of 6.3% during the forecast period 2021-2030.

The global point of care coagulation testing devicesmarket has been segmented based on device type, end-user, and regions. The viscoelastic function monitoring devices segment is expected to register the highest CAGR over the forecast period.

North America region emerged as the largest market for the point of care coagulation testing devices.

The market's growth will be influenced by increasing number of patients with bleeding disorders.

Increased adoption of home healthcare will provide huge opportunities to the market.

Key players areAbbott Laboratories, F. Hoffmann-La Roche AG, Haemonetics Corporation, HemoSonics, Koninklijke Philips N.V., LLC, Medtronic plc, Micropoint Bioscience, Inc, Siemens Healthineers, Sienco, Inc. and Werfen.

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 ByDevice Type
          4.3.2. Market Attractiveness Analysis ByEnd User
          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. Increasing number of patients with bleeding disorders
    5.3. Restraints
          5.3.1. High cost
    5.4. Opportunities
          5.4.1. Increased adoption of home healthcare

6. Global Point of Care Coagulation Testing Devices Market Analysis and Forecast, By Device Type
    6.1. Segment Overview
    6.2. Anticoagulation Monitoring Devices
    6.3. Viscoelastic Function Monitoring Devices
    6.4. Platelet Function Monitoring Devices
    6.5. Other Monitoring Devices

7. Global Point of Care Coagulation Testing Devices MarketAnalysis and Forecast, By End User
    7.1. Segment Overview
    7.2. Home Care
    7.3. Hospitals and Clinics
    7.4. Others

8. Global Point of Care Coagulation Testing Devices MarketAnalysis 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 Point of Care Coagulation Testing Devices Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in GlobalPoint of Care Coagulation Testing Devices 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. Abbott Laboratories
          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. F. Hoffmann-La Roche AG
          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. Haemonetics Corporation
          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. HemoSonics
          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. Koninklijke Philips N.V.
          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. LLC
          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. Medtronic plc
          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. Micropoint Bioscience, Inc
          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. Siemens Healthineers
          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. Sienco, 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. Werfen
          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
 

List of Table

1. Global Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

2. Global Anticoagulation Monitoring DevicesPoint of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

3. Global Viscoelastic Function Monitoring Devices Point of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

4. Global Platelet Function Monitoring Devices Point of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

5. Global Other Monitoring Devices Point of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

6. Global Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

7. GlobalHome CarePoint of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

8. Global Hospitals and ClinicsPoint of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

9. Global OthersPoint of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

10. Global Point of Care Coagulation Testing Devices Market, By Region, 2018–2030 (USD Billion)

11. Global Point of Care Coagulation Testing Devices Market, By North America, 2018–2030 (USD Billion)

12. North America Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

13. North America Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

14. U.S. Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

15. U.S. Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

16. Canada Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

17. Canada Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

18. Mexico Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

19. Mexico Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

20. Europe Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

21. Europe Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

22. Germany Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

23. Germany Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

24. France Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

25. France Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

26. U.K. Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

27. U.K. Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

28. Italy Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

29. Italy Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

30. Spain Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

31. Spain Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

32. Asia Pacific Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

33. Asia Pacific Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

34. Japan Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

35. Japan Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

36. China Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

37. China Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

38. India Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

39. India Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

40. South America Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

41. South America Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

42. Brazil Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

43. Brazil Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

44. Middle East and Africa Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

45. Middle East and Africa Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

46. UAE Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

47. UAE Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

48. South Africa Point of Care Coagulation Testing Devices Market, By Device Type, 2018–2030 (USD Billion)

49. South Africa Point of Care Coagulation Testing Devices Market, By End User, 2018–2030 (USD Billion)

List of Figures 

1. Global Point of Care Coagulation Testing Devices Market Segmentation

2. Point of Care Coagulation Testing Devices 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 Point of Care Coagulation Testing Devices Market Attractiveness Analysis By Device Type

9. Global Point of Care Coagulation Testing Devices Market Attractiveness Analysis By End User

10. Global Point of Care Coagulation Testing Devices Market Attractiveness Analysis By Region

11. Global Point of Care Coagulation Testing Devices Market: Dynamics

12. Global Point of Care Coagulation Testing Devices Market Share By Device Type (2021&2030)

13. Global Point of Care Coagulation Testing Devices Market Share By End User (2021&2030)

14. Global Point of Care Coagulation Testing Devices Market Share by Regions (2021&2030)

15. Global Point of Care Coagulation Testing Devices Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global point of care coagulation testing devicesmarket based on below mentioned segments:

Global Point of Care Coagulation Testing Devices Market byDevice Type:

  • Anticoagulation Monitoring Devices
  • Viscoelastic Function Monitoring Devices
  • Platelet Function Monitoring Devices
  • Other Monitoring Devices

Global Point of Care Coagulation Testing Devices Market byEnd user:

  • Home Care
  • Hospitals and Clinics
  • Others

Global Point of Care Coagulation Testing Devices 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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