Get More Information on Cancer Biomarker Market - Request Sample Report
The Cancer Biomarker Market Size was valued at USD 23.03 billion in 2023 and is expected to reach USD 58.93 billion by 2032 and grow at a CAGR of 11.60% over the forecast period 2024-2032.
Key factors driving market growth are rising cancer incidence across the globe, growing acceptance of cutting-edge treatments for cancers, and a shift from traditional measurements with criterion stigma to early diagnosis or viewpoint implication. The increasing use of biomarkers in drug development will further expand opportunities at the global level. As an example of this, The American Cancer Society estimates that nearly 1.9 million new cancer cases will be diagnosed in the United States (US) in 2022 according to its publication entitled: "Cancer Facts & Figures."
Moreover, the global incidence of cancer is expected to rise at an alarming rate; over 24 million new cases will be diagnosed by 2030 according to a prior report GLOBOCAN 2020. Therefore, with the emerging cancer connotation it is obvious that a good deal of demand for its early determination will come into light as treatment at an initial phase always proves to be economical and effective. Thus, the growing prevalence of cancer which is expected to increase the early diagnosis rate and rise in patients based on incidences of various forms would be a drive through its growth.
In addition, the market is expected to rise as several developments carried out by industry players at strategic levels back up their growth in the next few years. Vela Diagnostics introduces new NGS-based panels for solid tumors to detect cancer biomarkers from FFPE samples March 2022 Focus Panels (60 genes) Comp Panel Pro V2 (525 genes) OncoKey SL 60 Plus Panel / OncoKey SL 525 Plus panel: A targeted pan-cancer gene panel and a comprehensive pan-cancer gene-panel.
Likewise, collaboration and M&A in the industry are expected to drive the market during the forecasted period. In one example from June 2021, Medable partnered with Aural Analytics to assess remote data collection and digital biomarkers among cancer patients that it was working on treating as part of its work in the moonshot. This collaboration is to enable speech and language markers for motor, cognitive or breathing functions to be monitored in combination with relative outcomes data analysis improving the real-world measurement of patients via digital biomarkers. This is estimated to raise the surveillance for thorough disease knowledge that enables improved treatment which in turn propels the market growth. Therefore, with the rising incidence of affection due to new product launches, the cancer biomarker market is expected to witness lucrative growth in the future. However, the costs of these devices and payment or reimbursement issues regarding the user are limiting market growth.
MARKET DYNAMICS
KEY DRIVERS:
The surge in cancer cases across the globe is fueling the demand for cancer biomarkers market
The paradigm shift in healthcare from disease diagnosis to risk assessment is boosting the growth of the cancer biomarkers market.
RESTRAINTS:
The higher costs of cancer diagnosis with biomarkers are limiting the growth of the cancer biomarkers market
Lack of uneven reimbursement policies with biomarker testing is impeding the market growth.
OPPORTUNITY:
Technological Advancements in cancer biomarker devices are responsible for cancer biomarker market growth during the forecast period.
Rising healthcare awareness is paving a lucrative growth opportunity for cancer biomarker products.
By Type
Breast cancer
Prostate cancer
Colorectal cancer
Cervical cancer
Liver cancer
Lung cancer
Others
The market based on type has been segmented as colorectal, lung prostate, breast, cervical, and liver. Breast cancer has a larger segment by type in 2023. Also, in 2023, breast cancer, lung cancer, and prostate accounted for a revenue share of above >45% combined. The United States has an increasingly higher incidence of cancer cases. Men, as well as women, can get breast cancer. But those are mostly present in females whereas male breast cancer although a very rare case term. For example, in data provided by Breastcancer.org. According to Breastcancer. org, 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States along with an estimated 51,400 new cases of non-invasive (in situ) forms of breast cancer as well in 2022 - March 2022. Hence, the higher cases of breast cancer are bolstering the cancer biomarker market. The primary rationale for this is greater awareness about early diagnosis and a larger end-user base.
Lung cancer is anticipated to expand at the fastest pace over the forecast years. The increasing prevalence of diagnostic tests for EGFR and BRAF mutations will act as a critical biomarker in non-small cell lung cancer diagnosis, Similarly, strategic actions by businesses active in the market are likely to boost the expansion of the segment. Amgen Operates Biomarker Assist for Stage IV NSCLC Patients. In April 2021, Amgen debuted its initiative that is working to help metastatic (stage iv) non-small cell lung cancer patients get more testing of biomarkers. If you qualify for Biomarker Assist, it may help defray the costs of cancer-related biomarker testing. In addition, the growing prevalence of lung cancer and a pipeline launch by leading market players is expected to boost the demand for diagnostic devices thereby driving up this segment in the future.
By Biomolecule
Genetic Biomarkers
Epigenetic Biomarkers
Metabolic Biomarkers
Proteomic Biomarkers
Others
Based on biomolecules, the market is further segmented into genetic, epigenetic, metabolic, and proteomic biomarkers. Because of having weighed extensive usage, high-reliability rate, and easier analysis genetic biomarkers maintained a large piece in the market. More than 85% of the identified malignancies have been reported to be found through genomic and proteomic biomarkers.
There is high acceptance for epigenetics in cancer diagnostics. Analysis of leading modifications in cancer using research has resulted significantly with many players eyeing advanced biomarkers targeting drugs. The rising cooperation of pharmaceutical groups for the improvement of new drug treatment focusing on epigenetic biomarkers is anticipated to grow the call for in this segment.
Need any customization research on Cancer Biomarker Market - Enquiry Now
By Application
Drug Discovery and Development
Diagnostics
Personalized medicine
Others
Cancer biomolecules are used in different areas, such as drug discovery and development; diagnostic tools for the identification of disease or pathology marker modulation; and theragnostic to guide personalized medicine. Diagnostics was the highest revenue-generating application of this market due to the growing number of cancer biomarker-based tests that require exceptional analytic specificity and sensitivity.
The vigilant awareness gained in healthcare utilities and the high demand for personalized medicines is foreseen to propel the growth rate during the predicted forecast period. In addition, the increasing acceptance of cancer drugs that require companion diagnostic tests is likely to validate market expansion.
The regional segment is led by North America followed closely by Europe. The High Adoption of Advanced Technology and the large presence of major pharmaceutical companies in this region support strategies being developed for novel diagnostics products and the high demand for specific & early diagnostics are also responsible factors behind their dominance.
Asia Pacific region is expected to grow at the fastest CAGR owing to increasing incidence of cancer, favorable environment for clinical trials, and rise in government funding to support drug development programs. Further, the increasing focus of pharmaceutical companies on this region along with rising awareness for biomarker-based diagnosis are some other growth drivers which push the regional market to walk on a high CAGR path.
REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
To maintain their foothold players are employing various strategies such as new product development, collaborative agreements with the research institutes in developing a novel biomarker, and mergers & acquisitions of small entities. The major market players include Agilent Technologies, F.Hoffmann-La Roche Ltd., Becton, Dickinson and Company, QIAGEN, Affymetrix Inc., Illumina, Inc., Thermo Fisher Scientific Inc., Hologic, Inc., Merck & Co. Inc., Sino Biological Inc., Abbott Laboratories, and other players.
RECENT DEVELOPMENT
In March 2023, Servier collaborates with QIAGEN to develop new mIDH1 companion diagnostic test in Hemato-Oncology Portfolio, March 2023 This is a step towards creating a new companion diagnostic test for the detection of acute myeloid leukemia (AML) in patients.
In January 2022, Illumina has come into a co-development partnership and to establishing these two market leaders in biomarker discovery sector. Together, leading protein biomarker discovery company SomaLogic and NGS leader Illumina will fast-track the clinical opportunities.
Therefore, the aforementioned industry developments are bolstering the growth of the cancer biomarker market.
| Report Attributes | Details |
| Market Size in 2023 | US$ 23.03 billion |
| Market Size by 2032 | US$ 58.93 billion |
| CAGR | CAGR of 11.60% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments |
• By Type (Breast Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Liver Cancer, Lung Cancer, Others)
|
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Abbott Laboratories, F.Hoffmann-La Roche Ltd., QIAGEN, Thermo Fisher Scientific Inc., Affymetrix Inc., Illumina, Inc., Agilent Technologies, Merck & Co. Inc., Hologic, Inc., Sino Biological Inc., Becton, Dickinson and Company and other players |
| Key Drivers | •The surge in cancer cases across the globe is fueling the demand for cancer biomarkers market •The paradigm shift in healthcare from disease diagnosis to risk assessment is boosting the growth of the cancer biomarkers market. |
| Market Challenges | •The higher costs of cancer diagnosis with biomarkers are limiting the growth of the cancer biomarkers market •Lack of uneven reimbursement policies with biomarker testing is impeding the market growth. |
Ans: Increasing partnerships between market players and medicine that is personalized for the individual.
Ans: North America is dominating the cancer biomarker market.
Ans: Cancer biomarker market size was valued at USD 23.03 billion in 2023
Ans: Cancer biomarker market is expected to grow USD 58.93 billion by 2032
Ans: Cancer biomarker market is anticipated to expand by 11.60% from 2024 to 2032.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Cancer Biomarker Market Segmentation, By Type
7.1 Introduction
7.2 Breast cancer
7.3 Prostate cancer
7.4 Colorectal cancer
7.5 Cervical cancer
7.6 Liver cancer
7.7 Lung cancer
7.8 Others
8. Cancer Biomarker Market Segmentation, By Biomolecule
8.1 Introduction
8.2 Genetic Biomarkers
8.3 Epigenetic Biomarkers
8.4 Metabolic Biomarkers
8.5 Proteomic Biomarkers
8.6 Others
9. Cancer Biomarker Market Segmentation, By Application
9.1 Introduction
9.2 Drug discovery and Development
9.3 Diagnostics
9.4 Personalized medicine
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 Trend Analysis
10.2.2 North America Cancer Biomarker Market by Country
10.2.3 North America Cancer Biomarker Market By Type
10.2.4 North America Cancer Biomarker Market By Biomolecule
10.2.5 North America Cancer Biomarker Market By Application
10.2.6 USA
10.2.6.1 USA Cancer Biomarker Market By Type
10.2.6.2 USA Cancer Biomarker Market By Biomolecule
10.2.6.3 USA Cancer Biomarker Market By Application
10.2.7 Canada
10.2.7.1 Canada Cancer Biomarker Market By Type
10.2.7.2 Canada Cancer Biomarker Market By Biomolecule
10.2.7.3 Canada Cancer Biomarker Market By Application
10.2.8 Mexico
10.2.8.1 Mexico Cancer Biomarker Market By Type
10.2.8.2 Mexico Cancer Biomarker Market By Biomolecule
10.2.8.3 Mexico Cancer Biomarker Market By Application
10.3 Europe
10.3.1 Trend Analysis
10.3.2 Eastern Europe
10.3.2.1 Eastern Europe Cancer Biomarker Market by Country
10.3.2.2 Eastern Europe Cancer Biomarker Market By Type
10.3.2.3 Eastern Europe Cancer Biomarker Market By Biomolecule
10.3.2.4 Eastern Europe Cancer Biomarker Market By Application
10.3.2.5 Poland
10.3.2.5.1 Poland Cancer Biomarker Market By Type
10.3.2.5.2 Poland Cancer Biomarker Market By Biomolecule
10.3.2.5.3 Poland Cancer Biomarker Market By Application
10.3.2.6 Romania
10.3.2.6.1 Romania Cancer Biomarker Market By Type
10.3.2.6.2 Romania Cancer Biomarker Market By Biomolecule
10.3.2.6.4 Romania Cancer Biomarker Market By Application
10.3.2.7 Hungary
10.3.2.7.1 Hungary Cancer Biomarker Market By Type
10.3.2.7.2 Hungary Cancer Biomarker Market By Biomolecule
10.3.2.7.3 Hungary Cancer Biomarker Market By Application
10.3.2.8 Turkey
10.3.2.8.1 Turkey Cancer Biomarker Market By Type
10.3.2.8.2 Turkey Cancer Biomarker Market By Biomolecule
10.3.2.8.3 Turkey Cancer Biomarker Market By Application
10.3.2.9 Rest of Eastern Europe
10.3.2.9.1 Rest of Eastern Europe Cancer Biomarker Market By Type
10.3.2.9.2 Rest of Eastern Europe Cancer Biomarker Market By Biomolecule
10.3.2.9.3 Rest of Eastern Europe Cancer Biomarker Market By Application
10.3.3 Western Europe
10.3.3.1 Western Europe Cancer Biomarker Market by Country
10.3.3.2 Western Europe Cancer Biomarker Market By Type
10.3.3.3 Western Europe Cancer Biomarker Market By Biomolecule
10.3.3.4 Western Europe Cancer Biomarker Market By Application
10.3.3.5 Germany
10.3.3.5.1 Germany Cancer Biomarker Market By Type
10.3.3.5.2 Germany Cancer Biomarker Market By Biomolecule
10.3.3.5.3 Germany Cancer Biomarker Market By Application
10.3.3.6 France
10.3.3.6.1 France Cancer Biomarker Market By Type
10.3.3.6.2 France Cancer Biomarker Market By Biomolecule
10.3.3.6.3 France Cancer Biomarker Market By Application
10.3.3.7 UK
10.3.3.7.1 UK Cancer Biomarker Market By Type
10.3.3.7.2 UK Cancer Biomarker Market By Biomolecule
10.3.3.7.3 UK Cancer Biomarker Market By Application
10.3.3.8 Italy
10.3.3.8.1 Italy Cancer Biomarker Market By Type
10.3.3.8.2 Italy Cancer Biomarker Market By Biomolecule
10.3.3.8.3 Italy Cancer Biomarker Market By Application
10.3.3.9 Spain
10.3.3.9.1 Spain Cancer Biomarker Market By Type
10.3.3.9.2 Spain Cancer Biomarker Market By Biomolecule
10.3.3.9.3 Spain Cancer Biomarker Market By Application
10.3.3.10 Netherlands
10.3.3.10.1 Netherlands Cancer Biomarker Market By Type
10.3.3.10.2 Netherlands Cancer Biomarker Market By Biomolecule
10.3.3.10.3 Netherlands Cancer Biomarker Market By Application
10.3.3.11 Switzerland
10.3.3.11.1 Switzerland Cancer Biomarker Market By Type
10.3.3.11.2 Switzerland Cancer Biomarker Market By Biomolecule
10.3.3.11.3 Switzerland Cancer Biomarker Market By Application
10.3.3.12 Austria
10.3.3.12.1 Austria Cancer Biomarker Market By Type
10.3.3.12.2 Austria Cancer Biomarker Market By Biomolecule
10.3.3.12.3 Austria Cancer Biomarker Market By Application
10.3.3.13 Rest of Western Europe
10.3.3.13.1 Rest of Western Europe Cancer Biomarker Market By Type
10.3.3.13.2 Rest of Western Europe Cancer Biomarker Market By Biomolecule
10.3.3.13.3 Rest of Western Europe Cancer Biomarker Market By Application
10.4 Asia-Pacific
10.4.1 Trend Analysis
10.4.2 Asia-Pacific Cancer Biomarker Market by Country
10.4.3 Asia-Pacific Cancer Biomarker Market By Type
10.4.4 Asia-Pacific Cancer Biomarker Market By Biomolecule
10.4.5 Asia-Pacific Cancer Biomarker Market By Application
10.4.6 China
10.4.6.1 China Cancer Biomarker Market By Type
10.4.6.2 China Cancer Biomarker Market By Biomolecule
10.4.6.3 China Cancer Biomarker Market By Application
10.4.7 India
10.4.7.1 India Cancer Biomarker Market By Type
10.4.7.2 India Cancer Biomarker Market By Biomolecule
10.4.7.3 India Cancer Biomarker Market By Application
10.4.8 Japan
10.4.8.1 Japan Cancer Biomarker Market By Type
10.4.8.2 Japan Cancer Biomarker Market By Biomolecule
10.4.8.3 Japan Cancer Biomarker Market By Application
10.4.9 South Korea
10.4.9.1 South Korea Cancer Biomarker Market By Type
10.4.9.2 South Korea Cancer Biomarker Market By Biomolecule
10.4.9.3 South Korea Cancer Biomarker Market By Application
10.4.10 Vietnam
10.4.10.1 Vietnam Cancer Biomarker Market By Type
10.4.10.2 Vietnam Cancer Biomarker Market By Biomolecule
10.4.10.3 Vietnam Cancer Biomarker Market By Application
10.4.11 Singapore
10.4.11.1 Singapore Cancer Biomarker Market By Type
10.4.11.2 Singapore Cancer Biomarker Market By Biomolecule
10.4.11.3 Singapore Cancer Biomarker Market By Application
10.4.12 Australia
10.4.12.1 Australia Cancer Biomarker Market By Type
10.4.12.2 Australia Cancer Biomarker Market By Biomolecule
10.4.12.3 Australia Cancer Biomarker Market By Application
10.4.13 Rest of Asia-Pacific
10.4.13.1 Rest of Asia-Pacific Cancer Biomarker Market By Type
10.4.13.2 Rest of Asia-Pacific Cancer Biomarker Market By Biomolecule
10.4.13.3 Rest of Asia-Pacific Cancer Biomarker Market By Application
10.5 Middle East & Africa
10.5.1 Trend Analysis
10.5.2 Middle East
10.5.2.1 Middle East Cancer Biomarker Market by Country
10.5.2.2 Middle East Cancer Biomarker Market By Type
10.5.2.3 Middle East Cancer Biomarker Market By Biomolecule
10.5.2.4 Middle East Cancer Biomarker Market By Application
10.5.2.5 UAE
10.5.2.5.1 UAE Cancer Biomarker Market By Type
10.5.2.5.2 UAE Cancer Biomarker Market By Biomolecule
10.5.2.5.3 UAE Cancer Biomarker Market By Application
10.5.2.6 Egypt
10.5.2.6.1 Egypt Cancer Biomarker Market By Type
10.5.2.6.2 Egypt Cancer Biomarker Market By Biomolecule
10.5.2.6.3 Egypt Cancer Biomarker Market By Application
10.5.2.7 Saudi Arabia
10.5.2.7.1 Saudi Arabia Cancer Biomarker Market By Type
10.5.2.7.2 Saudi Arabia Cancer Biomarker Market By Biomolecule
10.5.2.7.3 Saudi Arabia Cancer Biomarker Market By Application
10.5.2.8 Qatar
10.5.2.8.1 Qatar Cancer Biomarker Market By Type
10.5.2.8.2 Qatar Cancer Biomarker Market By Biomolecule
10.5.2.8.3 Qatar Cancer Biomarker Market By Application
10.5.2.9 Rest of Middle East
10.5.2.9.1 Rest of Middle East Cancer Biomarker Market By Type
10.5.2.9.2 Rest of Middle East Cancer Biomarker Market By Biomolecule
10.5.2.9.3 Rest of Middle East Cancer Biomarker Market By Application
10.5.3 Africa
10.5.3.1 Africa Cancer Biomarker Market by Country
10.5.3.2 Africa Cancer Biomarker Market By Type
10.5.3.3 Africa Cancer Biomarker Market By Biomolecule
10.5.3.4 Africa Cancer Biomarker Market By Application
10.5.3.5 Nigeria
10.5.3.5.1 Nigeria Cancer Biomarker Market By Type
10.5.3.5.2 Nigeria Cancer Biomarker Market By Biomolecule
10.5.3.5.3 Nigeria Cancer Biomarker Market By Application
10.5.3.6 South Africa
10.5.3.6.1 South Africa Cancer Biomarker Market By Type
10.5.3.6.2 South Africa Cancer Biomarker Market By Biomolecule
10.5.3.6.3 South Africa Cancer Biomarker Market By Application
10.5.3.7 Rest of Africa
10.5.3.7.1 Rest of Africa Cancer Biomarker Market By Type
10.5.3.7.2 Rest of Africa Cancer Biomarker Market By Biomolecule
10.5.3.7.3 Rest of Africa Cancer Biomarker Market By Application
10.6 Latin America
10.6.1 Trend Analysis
10.6.2 Latin America Cancer Biomarker Market by country
10.6.3 Latin America Cancer Biomarker Market By Type
10.6.4 Latin America Cancer Biomarker Market By Biomolecule
10.6.5 Latin America Cancer Biomarker Market By Application
10.6.6 Brazil
10.6.6.1 Brazil Cancer Biomarker Market By Type
10.6.6.2 Brazil Cancer Biomarker Market By Biomolecule
10.6.6.3 Brazil Cancer Biomarker Market By Application
10.6.7 Argentina
10.6.7.1 Argentina Cancer Biomarker Market By Type
10.6.7.2 Argentina Cancer Biomarker Market By Biomolecule
10.6.7.3 Argentina Cancer Biomarker Market By Application
10.6.8 Colombia
10.6.8.1 Colombia Cancer Biomarker Market By Type
10.6.8.2 Colombia Cancer Biomarker Market By Biomolecule
10.6.8.3 Colombia Cancer Biomarker Market By Application
10.6.9 Rest of Latin America
10.6.9.1 Rest of Latin America Cancer Biomarker Market By Type
10.6.9.2 Rest of Latin America Cancer Biomarker Market By Biomolecule
10.6.9.3 Rest of Latin America Cancer Biomarker Market By Application
11. Company Profiles
11.1 Agilent Technologies
11.1.1 Company Overview
11.1.2 Financial
11.1.3 Types/ Services Offered
11.1.4 The SNS View
11.2 Hoffmann-La Roche Ltd.
11.2.1 Company Overview
11.2.2 Financial
11.2.3 Types/ Services Offered
11.2.4 The SNS View
11.3 Becton, Dickinson and Company
11.3.1 Company Overview
11.3.2 Financial
11.3.3 Types/ Services Offered
11.3.4 The SNS View
11.4 QIAGEN
11.4.1 Company Overview
11.4.2 Financial
11.4.3 Types/ Services Offered
11.4.4 The SNS View
11.5 Affymetrix Inc.
11.5.1 Company Overview
11.5.2 Financial
11.5.3 Types/ Services Offered
11.5.4 The SNS View
11.6 Illumina, Inc.
11.6.1 Company Overview
11.6.2 Financial
11.6.3 Types/ Services Offered
11.6.4 The SNS View
11.7 Thermo Fisher Scientific Inc.
11.7.1 Company Overview
11.7.2 Financial
11.7.3 Types/ Services Offered
11.7.4 The SNS View
11.8 Hologic, Inc.
11.8.1 Company Overview
11.8.2 Financial
11.8.3 Types/ Services Offered
11.8.4 The SNS View
11.9 Merck & Co. Inc.
11.9.1 Company Overview
11.9.2 Financial
11.9.3 Types/ Services Offered
11.9.4 The SNS View
11.10 Sino Biological Inc.
11.10.1 Company Overview
11.10.2 Financial
11.10.3 Types/ Services Offered
11.10.4 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. Use Case and Best Practices
14. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Surgical Procedures Market size was estimated at USD 10,827 thousand in 2022 and is expected to reach USD 14257.09 thousand by 2030 at a CAGR of 3.5% during the forecast period of 2023-2030.
The Near-infrared Imaging Market size was estimated at USD 2.13 billion in 2023 and is expected to reach USD 2.91 billion by 2031 with a growing CAGR of 4% during the forecast period of 2024-2031.
The Erectile Dysfunction Treatment Drugs Market was valued at USD 3.31 billion in 2023 and is expected to reach USD 5.97 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.84% from 2024 to 2032.
The Respiratory Care Device Market was esteemed at USD 21.5 billion in 2023, and is to reach USD 39.79 billion by 2031, enrolling an expected CAGR of 8% during the forecast period 2024-2031.
The Non-Invasive Fat Reduction Market Size was valued at USD 1.39 billion in 2023 and is expected to reach USD 4.67 billion by 2031, and grow at a CAGR of 16.3% over the forecast period 2024-2031.
The Interactive Patient Engagement Solutions Market size was assessed at USD 22.6 billion by 2023, and is supposed to arrive at USD 83.80 billion by 2031 and develop at a CAGR of 17.8% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
