Blood Group Typing Market
Blood Group Typing Market Forecasts to 2028 - Global Analysis By Product (Consumables, Instruments and Other Products), Techniques (Assay-Based Techniques, Massively Parallel Sequencing Techniques, PCR-Based & Microarray Techniques and Other Techniques), Test Type (Antibody Screening & Identification, Antigen Typing and Other Test Types), End User and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.80 BN |
|
Projected Year Value (2028) |
US $3.47 BN |
|
CAGR (2022 - 2028) |
11.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Blood Group Typing Market is accounted for $1.80 billion in 2022 and is expected to reach $3.47 billion by 2028 growing at a CAGR of 11.5% during the forecast period. Blood typing is a method of telling what type of blood a person has. Blood typing is done so one can safely donate their blood or receive a blood transfusion. It is also done to see if one has substance called Rh factor on the surface of red blood cells. Blood typing plays a crucial role in blood transfusion and donations. It is a fast and easy method used to make sure that the donor and recipient are compatible to avoid any complications. It is very critical in pregnant women as mismatched blood transfusion can result in agglutination or blood clumping, which is essentially fatal.
According to the article published by Sarah Megginson, 89% of Australian adults participate in sports every year, with 62% participating at least three times a week. Hence, these cases of accidents will contribute to the increasing demand for the blood banks segment. In addition, in the past few years, the burden of blood-borne diseases has also increased, coupled with the increasing prevalence of transfusion transmissible infection and surgeries, growing awareness about blood donation, and several government initiatives associated with blood donation.
Market Dynamics:
Driver:
Increasing in the number of emergencies, road accidents and trauma cases
An increasing number of road accidents, emergencies, and trauma cases requiring blood transfusions, and the need for grouping of the blood in pregnancy are driving the growth of the market. Growing demand for blood group typing in prenatal testing, rising usage of blood group typing in forensic sciences and strict governing standards for blood transfusion is also boosting the global blood group typing market growth.
Restraint:
Lack of infrastructure and trained personnel
Due to Lack of infrastructure and trained personnel there might be clerical errors or technical problems with a sample or during testing. Intrinsic problems within red cells or plasma may also lead to ABO discrepancies. The test cannot be conducted for weakly or rarely reactive antigens from which the results are difficult to interpret, and additionally, a low titer of anti-A or anti-B could lead to false positive or false negative results hampering the market.
Opportunity:
Safe donation
Blood group typing helps us in identifying the blood group and helps to know the compatibility of the blood when transfused to another person, if not there are chances of getting infected with diseases or the condition that the donor has, some of the blood transfused diseases are HIV, AIDS etc. which are life threatening. Hence as this blood group typing is a necessary element in blood transfusion there are greater opportunities of driving the market.
Threat:
Transmission of infectious disease due to lack of hygiene
The blood group typing is done not only to detect or identify the blood group but also to detect infections, diagnose autoimmune disorders, as well as to diagnose certain diseased conditions the rapid antigen test is suitable for diagnosing infections in care settings, like GP surgeries and out-of-hours services. It directly detects the presence or absence of an antigen. HIV antigen is useful because the p24 antigen rises soon after infection and sooner than antibodies thus this can also lead to transfusion of infection due to lack of hygiene at the premises of blood group typing and thus hinders the market growth.
Covid-19 Impact
The COVID 19 pandemic has resulted in a decline in the number of the blood transfusions and donations, manufacturing and supply chain issues, and a decrease in the number of the visits to healthcare facilities leading to reduced usage of these diagnostic products. On the other hand the demand for blood group typing has increased subsequently. Many individuals with weak immune systems have been infected by COVID-19 and hospitalized and may require a blood transfusion due to COVID-19. As a result, the demand for blood group typing has risen during COVID-19, following the pandemic..
The pcr-based & microarray techniques segment is expected to be the largest during the forecast period
The pcr-based & microarray techniques segment is estimated to have a lucrative growth, due to its idea property to screen a lot of genes in one step and is very sensitive, highly quantitative and requires up to 1000-fold less RNA. Both allow a relative and accurate quantification of mRNA molecules with a sufficiently high repeatability and low variability. This technique makes it possible to examine the expression of thousands of genes simultaneously.
The antigen typing segment is expected to have the highest CAGR during the forecast period
The antigen typing segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its use in identifying specific antigens on the red cell. Identification of specific red cell antigens of the father may be useful in assessing the risk of haemolytic disease of the newborn, which helps in obtaining phenotypically compatible units to search for rare blood types and to increase the reliability of repositories of antigen which in turn helps in booting the growth of the blood group typing market.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the availability of favourable compensation policies and increasing occurrence of chronic disorders in this region and escalating incidence of chronic diseases, many of which require blood type determination for effective treatment and surging number of trauma and accident victims, who require instant blood transfusion are driving the market growth in this region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to increase in the number of road accidents and the rising prevalence of chronic diseases are the major factors driving the growth of the market the increasing road fatalities and crashes are increasing the demand for blood group typing. This is expected to augment the demand for the blood group typing market over the forecast period.
Key players in the market
Some of the key players profiled in the Blood Group Typing Market include Quotient Limited, DIAGAST, Grifols, S.A, Immucor, Inc, CareDX Inc., Agena Bioscience.Inc., Bio-Rad Laboratories Inc, Thermo Fisher Scientific Inc, Merck KGaA, Beckman Coulter, Inc., QIAGEN, BAG Health Care GmbH
Key Developments:
In April 2022, Grifols, a global pioneer in plasma-derived pharmaceuticals, announced its acquisition of Tiancheng (Germany) Pharmaceutical Holdings AG's 100% share capital. Grifols' completed the acquisition of Biotest AG, which is owned by Tiancheng (Germany) Pharmaceutical Holdings AG.
In March 2022, Immucor Announces New Innovations in Transplant Diagnostics This new software offering gives users of MIA FORA NGS MFlex HLA Typing assays a faster and easier NGS analysis experience. MIA FORA NGS EXPRESS will also allow users the cost-saving option of a standard Windows desktop computing system in addition to the current Linux server.
In February 2022, Grifols announced collaboration with Endpoint Health, Inc. This collaboration would help in the expansion of the product portfolio for blood group typing.
Products Covered:
• Consumables
• Instruments
• Other Products
Techniques Covered:
• Assay-Based Techniques
• Massively Parallel Sequencing Techniques
• PCR-Based & Microarray Techniques
• Other Techniques
Test Types Covered:
• Antibody Screening & Identification
• Antigen Typing
• ABO Tests
• Cross-Matching Tests
• Other Test Types
End Users Covered:
• Blood Banks
• Hospitals
• Laboratories
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Blood Group Typing Market, By Product
5.1 Introduction
5.2 Consumables
5.3 Instruments
5.4 Other Products
6 Global Blood Group Typing Market, By Techniques
6.1 Introduction
6.2 Assay-Based Techniques
6.3 Massively Parallel Sequencing Techniques
6.4 PCR-Based & Microarray Techniques
6.5 Other Techniques
7 Global Blood Group Typing Market, By Test Type
7.1 Introduction
7.2 Antibody Screening & Identification
7.3 Antigen Typing
7.4 ABO Tests
7.5 Cross-Matching Tests
7.6 Other Test Types
8 Global Blood Group Typing Market, By End User
8.1 Introduction
8.2 Blood Banks
8.3 Hospitals
8.4 Laboratories
8.5 Other End Users
9 Global Blood Group Typing Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Quotient Limited
11.2 DIAGAST
11.3 Grifols, S.A
11.4 Immucor, Inc
11.5 CareDX Inc.
11.6 Agena Bioscience.Inc.
11.7 Bio-Rad Laboratories Inc
11.8 Thermo Fisher Scientific Inc.
11.9 Merck KGaA
11.10 Beckman Coulter, Inc.
11.11 QIAGEN
11.12 BAG Health Care GmbH
List of Tables
1 Global Blood Group Typing Market Outlook, By Region (2020-2028) ($MN)
2 Global Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
3 Global Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
4 Global Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
5 Global Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
6 Global Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
7 Global Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
8 Global Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
9 Global Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
10 Global Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
11 Global Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
12 Global Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
13 Global Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
14 Global Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
15 Global Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
16 Global Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
17 Global Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
18 Global Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
19 Global Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
20 Global Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
21 Global Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
22 North America Blood Group Typing Market Outlook, By Country (2020-2028) ($MN)
23 North America Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
24 North America Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
25 North America Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
26 North America Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
27 North America Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
28 North America Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
29 North America Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
30 North America Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
31 North America Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
32 North America Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
33 North America Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
34 North America Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
35 North America Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
36 North America Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
37 North America Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
38 North America Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
39 North America Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
40 North America Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
41 North America Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
42 North America Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
43 Europe Blood Group Typing Market Outlook, By Country (2020-2028) ($MN)
44 Europe Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
45 Europe Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
46 Europe Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
47 Europe Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
48 Europe Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
49 Europe Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
50 Europe Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
51 Europe Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
52 Europe Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
53 Europe Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
54 Europe Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
55 Europe Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
56 Europe Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
57 Europe Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
58 Europe Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
59 Europe Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
60 Europe Blood Group Typing Market Outlook, By Introduction (2020-2028) ($MN)
61 Europe Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
62 Europe Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
63 Europe Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
64 Europe Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
65 Asia Pacific Blood Group Typing Market Outlook, By Country (2020-2028) ($MN)
66 Asia Pacific Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
67 Asia Pacific Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
68 Asia Pacific Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
69 Asia Pacific Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
70 Asia Pacific Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
71 Asia Pacific Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
72 Asia Pacific Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
73 Asia Pacific Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
74 Asia Pacific Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
75 Asia Pacific Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
76 Asia Pacific Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
77 Asia Pacific Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
78 Asia Pacific Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
79 Asia Pacific Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
80 Asia Pacific Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
81 Asia Pacific Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
82 Asia Pacific Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
83 Asia Pacific Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
84 Asia Pacific Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
85 Asia Pacific Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
86 South America Blood Group Typing Market Outlook, By Country (2020-2028) ($MN)
87 South America Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
88 South America Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
89 South America Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
90 South America Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
91 South America Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
92 South America Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
93 South America Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
94 South America Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
95 South America Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
96 South America Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
97 South America Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
98 South America Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
99 South America Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
100 South America Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
101 South America Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
102 South America Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
103 South America Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
104 South America Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
105 South America Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
106 South America Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
107 Middle East & Africa Blood Group Typing Market Outlook, By Country (2020-2028) ($MN)
108 Middle East & Africa Blood Group Typing Market Outlook, By Product (2020-2028) ($MN)
109 Middle East & Africa Blood Group Typing Market Outlook, By Consumables (2020-2028) ($MN)
110 Middle East & Africa Blood Group Typing Market Outlook, By Instruments (2020-2028) ($MN)
111 Middle East & Africa Blood Group Typing Market Outlook, By Other Products (2020-2028) ($MN)
112 Middle East & Africa Blood Group Typing Market Outlook, By Techniques (2020-2028) ($MN)
113 Middle East & Africa Blood Group Typing Market Outlook, By Assay-Based Techniques (2020-2028) ($MN)
114 Middle East & Africa Blood Group Typing Market Outlook, By Massively Parallel Sequencing Techniques (2020-2028) ($MN)
115 Middle East & Africa Blood Group Typing Market Outlook, By PCR-Based & Microarray Techniques (2020-2028) ($MN)
116 Middle East & Africa Blood Group Typing Market Outlook, By Other Techniques (2020-2028) ($MN)
117 Middle East & Africa Blood Group Typing Market Outlook, By Test Type (2020-2028) ($MN)
118 Middle East & Africa Blood Group Typing Market Outlook, By Antibody Screening & Identification (2020-2028) ($MN)
119 Middle East & Africa Blood Group Typing Market Outlook, By Antigen Typing (2020-2028) ($MN)
120 Middle East & Africa Blood Group Typing Market Outlook, By ABO Tests (2020-2028) ($MN)
121 Middle East & Africa Blood Group Typing Market Outlook, By Cross-Matching Tests (2020-2028) ($MN)
122 Middle East & Africa Blood Group Typing Market Outlook, By Other Test Types (2020-2028) ($MN)
123 Middle East & Africa Blood Group Typing Market Outlook, By End User (2020-2028) ($MN)
124 Middle East & Africa Blood Group Typing Market Outlook, By Blood Banks (2020-2028) ($MN)
125 Middle East & Africa Blood Group Typing Market Outlook, By Hospitals (2020-2028) ($MN)
126 Middle East & Africa Blood Group Typing Market Outlook, By Laboratories (2020-2028) ($MN)
127 Middle East & Africa Blood Group Typing Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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