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Lateral Flow Assay Market

Lateral Flow Assay Market Share & Analysis – Industry Overview

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13043
  • Published Date: Nov, 2022
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest market for the global lateral flow assay market, with a 40.93% market revenue share in 2022. The region's well-established healthcare and pharma sector allows the population access to affordable lateral flow assay products. The countries in the region are developed with high per capita income, enabling the consumers to afford lateral flow assays with their rising disposable income. The COVID-19 pandemic boosted the technological advancements and product innovations in lateral flow tests, making them faster, cheaper and easy to use, thereby propelling the market's growth. The increasing prevalence of infectious diseases will augment the demand for lateral flow tests, facilitating the market's development. The extensive retail and hospital pharmacy network enhances the accessibility for consumers. Furthermore, the growing presence of lateral flow tests on online pharmacy platforms will advance the reach of the market. Significant market players offering several products, each with enhanced effectiveness, will increase the competitive landscape, resulting in better products at an affordable cost. The increase in government funding to develop lateral flow assay tests in the face of the covid-19 pandemic is expected to retain its moment as the threat of future pandemics looms worldwide. The Asia Pacific market is anticipated to grow the fastest during the forecast period. The lack of preventive healthcare measures in the region's low- and middle-income countries exposes the population to multiple infectious diseases. The increasing infectious disease prevalence will propel the market's growth. The increasing public healthcare expenditure will also augment the market's development. The region's vast population without proper medical supply, given the lack of proper public healthcare infrastructure, leads to a supply-demand mismatch. The unmet demands in the region offer the substantive market potential to private market companies. The region's potential consumer market is attracting key players, advancing the lateral flow assay market.

North America Region Lateral Flow Assay Market Share in 2022 - 40.93%

 

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Product type segment analysis

The product type segment is divided into kits & reagents and lateral flow readers. The lateral flow readers can be further divided into digital readers and benchtop readers. The kits & reagents segment dominated the market with a revenue share of around 57% in 2022. The ease of use and affordability are the primary factors driving the segment's popularity in the global lateral flow assay market. The growing presence of pharmacies offering these products as over-the-counter medical devices is convenient for consumers. The sensitive nature of certain tests, results of which consumers prefer to restrict to themselves, is enabled by the kits & reagents, therefore increasing their adoption globally. 

Technique segment analysis

The technique segment is divided into sandwich assays, multiplex detection assays and competitive assays. The sandwich assays segment dominated the market with a market share of around 46% in 2022. Sandwich assays represent the presence of an antibody of analyte by depicting a coloured line near the test line position. Sandwich assays are highly sensitive, meaning they detect the presence of targeted analyte even when it is in smaller quantities in the sample. The sandwich assays or tests can be used to detect unknown antibodies. They can be used to test complex samples as well. They offer flexibility. Sandwich assays are easy to use, affordable and offer fast and accurate results.

Application segment analysis

The application is divided into clinical testing, veterinary diagnostics, food safety & environment testing, drug development & quality testing, and others. The clinical testing segment dominated the market with a market share of around 54% in 2022. Clinical testing involves infectious disease testing, cardiac market testing, pregnancy & fertility testing, lipid profiling, drug abuse testing and others. The wide range of use of clinical testing, given the increasing prevalence of infectious diseases and a rise in cardiovascular diseases, is segmenting the growth of the segment. The increasing incidence of drug abuse will also propel the market's growth.

Distribution channel segment analysis

The distribution channel is divided into hospitals & clinics, home care, diagnostic laboratories, pharmaceutical & biotechnology companies and others. The hospitals & clinics segment dominated the market with a market share of around 48% in 2022. Hospitals and clinics are the preferred institutions for most populations regarding any disease/illness or condition. The increasing flow of patients with the rapid re-emergence of infectious diseases requires quick and accurate diagnosis to identify and prioritize the most critical cases. Therefore, hospitals and clinics heavily rely on lateral flow assays as a primary testing method to categorize patients and optimize hospital resources to save every life.

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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 Product Type
          4.3.2. Market Attractiveness Analysis by Technique
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by Distribution Channel
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing prevalence of infectious diseases
    5.3. Restraints
          5.3.1. Unreliable results
    5.4. Opportunities
          5.4.1. Technological advancements and product innovations
    5.5. Challenges
          5.5.1. Stringent regulatory guidelines

6. Global Lateral Flow Assay Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Kits & Reagents
    6.3. Lateral Flow Readers
          6.3.1. Digital Readers
          6.3.2. Benchtop Readers

7. Global Lateral Flow Assay Market Analysis and Forecast, By Technique
    7.1. Segment Overview
    7.2. Sandwich Assays
    7.3. Multiplex Detection Assays
    7.4. Competitive Assays

8. Global Lateral Flow Assay Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Clinical Testing
    8.3. Veterinary Diagnostics
    8.4. Food Safety & Environment Testing
    8.5. Drug Development & Quality Testing
    8.6. Others

9. Global Lateral Flow Assay Market Analysis and Forecast, By Distribution Channel
    9.1. Segment Overview
    9.2. Hospitals & Clinics
    9.3. Home Care
    9.4. Diagnostic Laboratories
    9.5. Pharmaceutical & Biotechnology Companies
    9.6. Others

10. Global Lateral Flow Assay Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Lateral Flow Assay Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Lateral Flow Assay Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Abbott Laboratories
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Becton, Dickinson and Company
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Biomérieux SA
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Bio-Rad Laboratories
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Danaher Corporation
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. F Hoffmann-La Roche Ltd.
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Merck
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Quidel Corporation
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Siemens Healthineers AG
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. Thermo Fisher Scientific Inc.
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
 

List of Table

1. Global Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Kits & Reagents Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

3. Global Lateral Flow Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

3.1. Global Digital Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

3.2. Global Benchtop Readers Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

4. Global Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

5. Global Sandwich Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

6. Global Multiplex Detection Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

7. Global Competitive Assays Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

8. Global Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

9. Global Clinical Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

10. Global Veterinary Diagnostics Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

11. Global Food Safety & Environment Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

12. Global Drug Development & Quality Testing Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

13. Global Others Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

14. Global Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

15. Global Hospitals & Clinics Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

16. Global Home Care Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

17. Global Diagnostic Laboratories Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

18. Global Pharmaceutical & Biotechnology Companies Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

19. Global Others Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

20. Global Lateral Flow Assay Market, By Region, 2019-2030 (USD Billion) 

21. North America Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

22. North America Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

23. North America Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

24. North America Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

25. U.S. Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

26. U.S. Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

27. U.S. Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

28. U.S. Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

29. Canada Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

30. Canada Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

31. Canada Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

32. Canada Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

33. Mexico Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

34. Mexico Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

35. Mexico Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

36. Mexico Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

37. Europe Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

38. Europe Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

39. Europe Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

40. Europe Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

41. Germany Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

42. Germany Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

43. Germany Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

44. Germany Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

45. France Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

46. France Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

47. France Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

48. France Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

49. U.K. Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

50. U.K. Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

51. U.K. Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

52. U.K. Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

53. Italy Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

54. Italy Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

55. Italy Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

56. Italy Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

57. Spain Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

58. Spain Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

59. Spain Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

60. Spain Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

61. Asia Pacific Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

62. Asia Pacific Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

63. Asia Pacific Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

64. Asia Pacific Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

65. Japan Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

66. Japan Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

67. Japan Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

68. Japan Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

69. China Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

70. China Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

71. China Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

72. China Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

73. India Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

74. India Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

75. India Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

76. India Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

77. South America Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

78. South America Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

79. South America Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion)

80. South America Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)

81. Brazil Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

82. Brazil Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

83. Brazil Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

84. Brazil Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)

85. Middle East and Africa Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

86. Middle East and Africa Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

87. Middle East and Africa Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

88. Middle East and Africa Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)

89. UAE Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

90. UAE Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

91. UAE Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

92. UAE Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion)

93. South Africa Lateral Flow Assay Market, By Product Type, 2019-2030 (USD Billion) 

94. South Africa Lateral Flow Assay Market, By Technique, 2019-2030 (USD Billion) 

95. South Africa Lateral Flow Assay Market, By Application, 2019-2030 (USD Billion) 

96. South Africa Lateral Flow Assay Market, By Distribution Channel, 2019-2030 (USD Billion) 

List of Figures 

1. Global Lateral Flow Assay Market Segmentation

2. Lateral Flow Assay 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 Lateral Flow Assay Market Attractiveness Analysis by Product Type

9. Global Lateral Flow Assay Market Attractiveness Analysis by Technique

10. Global Lateral Flow Assay Market Attractiveness Analysis by Application

11. Global Lateral Flow Assay Market Attractiveness Analysis by Distribution Channel

12. Global Lateral Flow Assay Market Attractiveness Analysis by Region

13. Global Lateral Flow Assay Market: Dynamics

14. Global Lateral Flow Assay Market Share by Product Type (2022 & 2030)

15. Global Lateral Flow Assay Market Share by Technique (2022 & 2030)

16. Global Lateral Flow Assay Market Share by Application (2022 & 2030)

17. Global Lateral Flow Assay Market Share by Distribution Channel (2022 & 2030)

18. Global Lateral Flow Assay Market Share by Regions (2022 & 2030)

19. Global Lateral Flow Assay Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the lateral flow assay market based on below mentioned segments:

Lateral Flow Assay Market by Product Type:

  • Kits & Reagents
  • Lateral Flow Readers
    • Digital Readers
    • Benchtop Readers

Lateral Flow Assay Market by Technique:

  • Sandwich Assays
  • Multiplex Detection Assays
  • Competitive Assays

Lateral Flow Assay Market by Application:

  • Clinical Testing
  • Veterinary Diagnostics
  • Food Safety & Environment Testing
  • Drug Development & Quality Testing
  • Others

Lateral Flow Assay Market by Distribution Channel:

  • Hospitals & Clinics
  • Home Care
  • Diagnostic Laboratories
  • Pharmaceutical & Biotechnology Companies
  • Others

Lateral Flow Assay 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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ProactiveWe manage our resources 24/7 to identify issues and address them before they become problems

Quality & ReliabilityWe are committed to providing reliable and highly accurate data with an excellent quality control system

Global Outreach6 Major regions and 40+ countries level analysis accomplished

Competitive PricingOur pricing strategy is highly competitive in the market, without compensating on the quality and the timeline of project delivery

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