REPORT SCOPE & OVERVIEW
The Metagenomics Market size was estimated USD 1.8 billion in 2022 and is expected to reach USD 5.9 billion by 2030 at a CAGR of 16.2% during the forecast period of 2023-2030.
The study of genetic material retrieved from environmental samples is referred to as metagenomics. The study is described as a microbial community tool for studying genes and microbial pathways. It provides a powerful lens with the potential to comprehend the entire living universe. The method helps researchers to gain a better grasp of microbial ecology and tap into a wide microbial diversity.
Strategic initiatives undertaken by academic institutions and companies to advance innovative technologies are expected to assist the metagenomics market's growth. For example, Illumina, Inc. stated in September 2022 that it will invest in six genomics startups from the United Kingdom, South Africa, Ireland, Israel, Indonesia, and the United States. The business had invested in 75 genomics-based startups as of September 2022. Along with the seed financing, the firms will have access to business assistance, Illumina's sequencing chemicals and systems, operational labs, and genomics expertise.'
Continuous technological innovations
Growing awareness regarding genetic diseases
The rising awareness of genetic abnormalities, which is predicted to fuel the expansion of the metagenomics market. The most important Technology area in which metagenomics plays an important role is clinical diagnosis. for example, in India, the prevalence of genetic illnesses has doubled. Because of increased genetic abnormalities and diseases, government support for genetic research and development, and the presence of advanced infrastructure, the American region is likely to hold a substantial proportion of the worldwide metagenomics market.
Application budget restraints in developing countries
In rising economies, academic research and development is heavily reliant on outside funding. in spite of ongoing efforts by government and commercial agencies to provide funding for research across the globe, many research and academic institutions face budget constraints when it comes to the purchase and use of cutting-edge and expensive equipment and technology.
The availability of cloud computing for data management.
With increased knowledge in developing nations, the demand for metagenomic methods has expanded in scientific communities worldwide. Cloud computing, on the other hand, provides a risky option for on-demand access to computational resources for metagenomic sequencing. Furthermore, in bioinformatics and computational biology, BLAST is a critical local alignment search tool (BLAST) on correct metagenomics data in a cloud context to verify the viability of metagenomic sequencing methodologies. It is considered to use the majority of the resources in that area. As a result, an opportunity such as the availability of cloud computing for data management propels the worldwide metagenomic market.
Storage of sequencing data
Dearth of skilled professionals
IMPACT OF RUSSIAN UKRAINE WAR
Because of their limited economic resources, low and middle-income nations will have the biggest impact on nutritional security due to their limited economic resources with malnutrition predicted to result in a short-term increase in death rates in these countries. Every year, 1-3 million children die as a result of severe acute malnutrition. An additional 48 million people are currently at risk of famine, with children being the most vulnerable to severe acute malnutrition, resulting in an unavoidable increase in child mortality. Hidden hunger and micronutrient malnutrition receive less attention than hunger because they are largely invisible; children, women, and girls of reproductive age will bear the brunt of the burden because they are disproportionately more vulnerable to micronutrient malnutrition than the general population due to their higher need for specific nutrients.
IMPACT OF ONGOING RECESSION
Takara Bio has made significant contributions to COVID-19 efforts during the crisis by delivering advanced PCR technology, which is the company's unique strength, to suit Japan's needs. Due in part to this series of moves, the company's name has appeared far more frequently in newspapers and other media than previously, and it appears that broad knowledge of Takara Bio is growing. They must maintain our emphasis on our existing drug development business, which employs biotechnology to develop cures for cancer and other disorders.
Kits & Reagents
Sequencing & Data Analytics Services
In 2022, kits & reagents segment is expected to held the highest market share of 61.4% during the forecast period. During the experimental preparation of the sample, a number of reagents are used in sequencing. The market is dominated by established businesses such as F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., and Illumina Inc., which offer a diverse range of reagents to meet the needs of sequencing.
In 2022, Sequencing segment is expected to dominate the market share of 53.8% during the forecast period. This can be attributed to the technological advancements in sequencing, which have made it more cost-effective and accurate. Companies routinely use sequencing methods for genetic research, which is an important component of genetic testing. Technology advancements have decreased the cost of sequencing by 28.2% yearly.
Whole Genome Sequencing
In 2022, Shotgun Sequencing segment is expected to dominate the market share of 16.2% during the forecast period. Many academic institutions and research centers are incorporating technology into their genetic research. For example, in July 2022, a paper published on the Arthritis & Rheumatology portal claimed that the genetic background, as well as disease activity, influences the makeup of gut microbiota. To reach such result, the team used shotgun sequencing.
Food & Nutrition
In 2022, the environmental segment is expected to dominate the market growth of 23.4% during the forecast period. The field of metagenomics research is fast expanding in agriculture and environmental protection. Metagenomics is a new technique for understanding microorganisms obtained from a specific environment using sequencing analysis or gene screening. According to a study conducted in December 2022 by Capital Medical University and Peking University Ditan Teaching Hospital, next-generation sequencing and third-generation sequencing have demonstrated the benefits of rapid identification of pathogenic bacteria.
Rest of Eastern Europe
Rest of Western Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East
Rest of Africa
Rest of Latin America
North America held a significant market share growing with a CAGR of 47.7% in 2022. due to the presence of significant enterprises in the region, as well as increasing R&D funding, and advances in sequencing technology. The market experienced partnership between corporations and academic institutions, which is one of the primary strategies adopted in the region. For example, in September 2022, the Broad Institute formed a partnership with the CDC and Theiagen Genomics to accelerate assistance for public health labs in the United States. The partnership's major goal is to enable pathogen genomics surveillance throughout the United States.
Asia-Pacific is witness to expand fastest CAGR rate of 18.9% and it is estimated to reach an expected value of USD 1,350 million by 2030 during the forecast period due to the tremendous breakthroughs by India and China in the usage of metagenomics in various Technologies. The growing emphasis on genomes and proteomics research, as well as increased strategic initiatives by academic institutions for new sequencing development, has provided the Asia Pacific metagenomics market with lucrative growth prospects throughout the projection period.
The major key players are Bio-Rad Laboratories, Illumina, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Novogene Co., Ltd., Promega Corporation, QIAGEN, Takara Bio, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd., and Others.
Bio-Rad Laboratories-Company Financial Analysis
Illumina, in November 2022 Illumina expanded its genomic innovation in the United Arab Emirates with the opening of a new cutting-edge solutions facility.
PerkinElmer, in November 2022, PerkinElmer accelerate gene therapy research by developing industry-first ready-to-use viral vector assays.
|Market Size in 2022||US$ 1.8 Billion|
|Market Size by 2030||US$ 5.9 Billion|
|CAGR||CAGR of 16.2% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Kits & Reagents, Sequencing & Data Analytics Services, Software)
• By Workflow (Pre-sequencing, Sequencing, Data Analysis)
• By Technology (Shotgun Sequencing, 16S Sequencing, Whole Genome Sequencing, Others)
• By Application (Environmental, Clinical Diagnostics, Drug Discovery, Biotechnology, Food & Nutrition, 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||Bio-Rad Laboratories, Illumina, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Novogene Co., Ltd., Promega Corporation, QIAGEN, Takara Bio, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd.|
|Key Drivers||• Continuous technological innovations
• Growing awareness regarding genetic diseases
|Market Challenges||• Storage of sequencing data
• Dearth of skilled professionals
Ans: The Metagenomics Market is expected to grow at 16.2% CAGR from 2023 to 2030.
Ans: According to our analysis, the Metagenomics Market is anticipated to reach USD 5.9 billion By 2030.
Ans: Metagenomics Market size was valued at USD 1.8 billion in 2022.
Ans: Factors such as the increase interest of researchers in associated novel research areas.
Ans: Yes, you may request customization based on your company's needs.
TABLE OF CONTENT
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Metagenomics Market Segmentation, by Product
8.1 Kits & Reagents
8.2 Sequencing & Data Analytics Services
9. Metagenomics Market Segmentation, by Workflow
9.3 Data Analysis
10. Metagenomics Market Segmentation, by Technology
10.1 Shotgun Sequencing
10.2 16S Sequencing
10.3 Whole Genome Sequencing
11. Metagenomics Market Segmentation, by Application
11.2 Clinical Diagnostics
11.3 Drug Discovery
11.5 Food & Nutrition
12. Regional Analysis
12.2 North America
12.2.1 North America Metagenomics Market by Country
12.2.2 North America Metagenomics Market by Product
12.2.3 North America Metagenomics Market by Workflow
12.2.4 North America Metagenomics Market by Technology
12.2.5 North America Metagenomics Market by Application
188.8.131.52 USA Metagenomics Market by Product
184.108.40.206 USA Metagenomics Market by Workflow
220.127.116.11 USA Metagenomics Market by Technology
18.104.22.168 USA Metagenomics Market by Application
22.214.171.124 Canada Metagenomics Market by Product
126.96.36.199 Canada Metagenomics Market by Workflow
188.8.131.52 Canada Metagenomics Market by Technology
184.108.40.206 Canada Metagenomics Market by Application
220.127.116.11 Mexico Metagenomics Market by Product
18.104.22.168 Mexico Metagenomics Market by Workflow
22.214.171.124 Mexico Metagenomics Market by Technology
126.96.36.199 Mexico Metagenomics Market by Application
12.3.1 Eastern Europe
188.8.131.52 Eastern Europe Metagenomics Market by Country
184.108.40.206 Eastern Europe Metagenomics Market by Product
220.127.116.11 Eastern Europe Metagenomics Market by Workflow
18.104.22.168 Eastern Europe Metagenomics Market by Technology
22.214.171.124 Eastern Europe Metagenomics Market by Application
126.96.36.199.1 Poland Metagenomics Market by Product
188.8.131.52.2 Poland Metagenomics Market by Workflow
184.108.40.206.3 Poland Metagenomics Market by Technology
220.127.116.11.4 Poland Metagenomics Market by Application
18.104.22.168.1 Romania Metagenomics Market by Product
22.214.171.124.2 Romania Metagenomics Market by Workflow
126.96.36.199.3 Romania Metagenomics Market by Technology
188.8.131.52.4 Romania Metagenomics Market by Application
184.108.40.206.1 Hungary Metagenomics Market by Product
220.127.116.11.2 Hungary Metagenomics Market by Workflow
18.104.22.168.3 Hungary Metagenomics Market by Technology
22.214.171.124.4 Hungary Metagenomics Market by Application
126.96.36.199.1 Turkey Metagenomics Market by Product
188.8.131.52.2 Turkey Metagenomics Market by Workflow
184.108.40.206.3 Turkey Metagenomics Market by Technology
220.127.116.11.4 Turkey Metagenomics Market by Application
18.104.22.168 Rest of Eastern Europe
22.214.171.124.1 Rest of Eastern Europe Metagenomics Market by Product
126.96.36.199.2 Rest of Eastern Europe Metagenomics Market by Workflow
188.8.131.52.3 Rest of Eastern Europe Metagenomics Market by Technology
184.108.40.206.4 Rest of Eastern Europe Metagenomics Market by Application
12.3.2 Western Europe
220.127.116.11 Western Europe Metagenomics Market by Country
18.104.22.168 Western Europe Metagenomics Market by Product
22.214.171.124 Western Europe Metagenomics Market by Workflow
126.96.36.199 Western Europe Metagenomics Market by Technology
188.8.131.52 Western Europe Metagenomics Market by Application
184.108.40.206.1 Germany Metagenomics Market by Product
220.127.116.11.2 Germany Metagenomics Market by Workflow
18.104.22.168.3 Germany Metagenomics Market by Technology
22.214.171.124.4 Germany Metagenomics Market by Application
126.96.36.199.1 France Metagenomics Market by Product
188.8.131.52.2 France Metagenomics Market by Workflow
184.108.40.206.3 France Metagenomics Market by Technology
220.127.116.11.4 France Metagenomics Market by Application
18.104.22.168.1 UK Metagenomics Market by Product
22.214.171.124.2 UK Metagenomics Market by Workflow
126.96.36.199.3 UK Metagenomics Market by Technology
188.8.131.52.4 UK Metagenomics Market by Application
184.108.40.206.1 Italy Metagenomics Market by Product
220.127.116.11.2 Italy Metagenomics Market by Workflow
18.104.22.168.3 Italy Metagenomics Market by Technology
22.214.171.124.4 Italy Metagenomics Market by Application
126.96.36.199.1 Spain Metagenomics Market by Product
188.8.131.52.2 Spain Metagenomics Market by Workflow
184.108.40.206.3 Spain Metagenomics Market by Technology
220.127.116.11.4 Spain Metagenomics Market by Application
18.104.22.168.1 Netherlands Metagenomics Market by Product
22.214.171.124.2 Netherlands Metagenomics Market by Workflow
126.96.36.199.3 Netherlands Metagenomics Market by Technology
188.8.131.52.4 Netherlands Metagenomics Market by Application
184.108.40.206.1 Switzerland Metagenomics Market by Product
220.127.116.11.2 Switzerland Metagenomics Market by Workflow
18.104.22.168.3 Switzerland Metagenomics Market by Technology
22.214.171.124.4 Switzerland Metagenomics Market by Application
126.96.36.199.1 Austria Metagenomics Market by Product
188.8.131.52.2 Austria Metagenomics Market by Workflow
184.108.40.206.3 Austria Metagenomics Market by Technology
220.127.116.11.4 Austria Metagenomics Market by Application
18.104.22.168 Rest of Western Europe
22.214.171.124.1 Rest of Western Europe Metagenomics Market by Product
126.96.36.199.2 Rest of Western Europe Metagenomics Market by Workflow
188.8.131.52.3 Rest of Western Europe Metagenomics Market by Technology
184.108.40.206.4 Rest of Western Europe Metagenomics Market by Application
12.4.1 Asia Pacific Metagenomics Market by Country
12.4.2 Asia Pacific Metagenomics Market by Product
12.4.3 Asia Pacific Metagenomics Market by Workflow
12.4.4 Asia Pacific Metagenomics Market by Technology
12.4.5 Asia Pacific Metagenomics Market by Application
220.127.116.11 China Metagenomics Market by Product
18.104.22.168 China Metagenomics Market by Workflow
22.214.171.124 China Metagenomics Market by Technology
126.96.36.199 China Metagenomics Market by Application
188.8.131.52 India Metagenomics Market by Product
184.108.40.206 India Metagenomics Market by Workflow
220.127.116.11 India Metagenomics Market by Technology
18.104.22.168 India Metagenomics Market by Application
22.214.171.124 Japan Metagenomics Market by Product
126.96.36.199 Japan Metagenomics Market by Workflow
188.8.131.52 Japan Metagenomics Market by Technology
184.108.40.206 Japan Metagenomics Market by Application
12.4.9 South Korea
220.127.116.11 South Korea Metagenomics Market by Product
18.104.22.168 South Korea Metagenomics Market by Workflow
22.214.171.124 South Korea Metagenomics Market by Technology
126.96.36.199 South Korea Metagenomics Market by Application
188.8.131.52 Vietnam Metagenomics Market by Product
184.108.40.206 Vietnam Metagenomics Market by Workflow
220.127.116.11 Vietnam Metagenomics Market by Technology
18.104.22.168 Vietnam Metagenomics Market by Application
22.214.171.124 Singapore Metagenomics Market by Product
126.96.36.199 Singapore Metagenomics Market by Workflow
188.8.131.52 Singapore Metagenomics Market by Technology
184.108.40.206 Singapore Metagenomics Market by Application
220.127.116.11 Australia Metagenomics Market by Product
18.104.22.168 Australia Metagenomics Market by Workflow
22.214.171.124 Australia Metagenomics Market by Technology
126.96.36.199 Australia Metagenomics Market by Application
12.4.13 Rest of Asia-Pacific
188.8.131.52 Rest of Asia-Pacific Metagenomics Market by Product
184.108.40.206 Rest of Asia-Pacific Metagenomics Market by Workflow
220.127.116.11 Rest of Asia-Pacific Metagenomics Market by Technology
18.104.22.168 Rest of Asia-Pacific Metagenomics Market by Application
12.5 Middle East & Africa
12.5.1 Middle East
22.214.171.124 Middle East Metagenomics Market by country
126.96.36.199 Middle East Metagenomics Market by Product
188.8.131.52 Middle East Metagenomics Market by Workflow
184.108.40.206 Middle East Metagenomics Market by Technology
220.127.116.11 Middle East Metagenomics Market by Application
18.104.22.168.1 UAE Metagenomics Market by Product
22.214.171.124.2 UAE Metagenomics Market by Workflow
126.96.36.199.3 UAE Metagenomics Market by Technology
188.8.131.52.4 UAE Metagenomics Market by Application
184.108.40.206.1 Egypt Metagenomics Market by Product
220.127.116.11.2 Egypt Metagenomics Market by Workflow
18.104.22.168.3 Egypt Metagenomics Market by Technology
22.214.171.124.4 Egypt Metagenomics Market by Application
126.96.36.199 Saudi Arabia
188.8.131.52.1 Saudi Arabia Metagenomics Market by Product
184.108.40.206.2 Saudi Arabia Metagenomics Market by Workflow
220.127.116.11.3 Saudi Arabia Metagenomics Market by Technology
18.104.22.168.4 Saudi Arabia Metagenomics Market by Application
22.214.171.124.1 Qatar Metagenomics Market by Product
126.96.36.199.2 Qatar Metagenomics Market by Workflow
188.8.131.52.3 Qatar Metagenomics Market by Technology
184.108.40.206.4 Qatar Metagenomics Market by Application
220.127.116.11 Rest of Middle East
18.104.22.168.1 Rest of Middle East Metagenomics Market by Product
22.214.171.124.2 Rest of Middle East Metagenomics Market by Workflow
126.96.36.199.3 Rest of Middle East Metagenomics Market by Technology
188.8.131.52.4 Rest of Middle East Metagenomics Market by Application
184.108.40.206 Africa Metagenomics Market by country
220.127.116.11 Africa Metagenomics Market by Product
18.104.22.168 Africa Metagenomics Market by Workflow
22.214.171.124 Africa Metagenomics Market by Technology
126.96.36.199 Africa Metagenomics Market by Application
188.8.131.52.1 Nigeria Metagenomics Market by Product
184.108.40.206.2 Nigeria Metagenomics Market by Workflow
220.127.116.11.3 Nigeria Metagenomics Market by Technology
18.104.22.168.4 Nigeria Metagenomics Market by Application
22.214.171.124 South Africa
126.96.36.199.1 South Africa Metagenomics Market by Product
188.8.131.52.2 South Africa Metagenomics Market by Workflow
184.108.40.206.3 South Africa Metagenomics Market by Technology
220.127.116.11.4 South Africa Metagenomics Market by Application
18.104.22.168 Rest of Africa
22.214.171.124.1 Rest of Africa Metagenomics Market by Product
126.96.36.199.2 Rest of Africa Metagenomics Market by Workflow
188.8.131.52.3 Rest of Africa Metagenomics Market by Technology
184.108.40.206.4 Rest of Africa Metagenomics Market by Application
12.6. Latin America
12.6.1 Latin America Metagenomics Market by country
12.6.2 Latin America Metagenomics Market by Product
12.6.3 Latin America Metagenomics Market by Workflow
12.6.4 Latin America Metagenomics Market by Technology
12.6.5 Latin America Metagenomics Market by Application
220.127.116.11 Brazil Metagenomics Market by Product
18.104.22.168 Brazil Metagenomics Market by Workflow
22.214.171.124 Brazil Metagenomics Market by Technology
126.96.36.199 Brazil Metagenomics Market by Application
188.8.131.52 Argentina Metagenomics Market by Product
184.108.40.206 Argentina Metagenomics Market by Workflow
220.127.116.11 Argentina Metagenomics Market by Technology
18.104.22.168 Argentina Metagenomics Market by Application
22.214.171.124 Colombia Metagenomics Market by Product
126.96.36.199 Colombia Metagenomics Market by Workflow
188.8.131.52 Colombia Metagenomics Market by Technology
184.108.40.206 Colombia Metagenomics Market by Application
12.6.9 Rest of Latin America
220.127.116.11 Rest of Latin America Metagenomics Market by Product
18.104.22.168 Rest of Latin America Metagenomics Market by Workflow
22.214.171.124 Rest of Latin America Metagenomics Market by Technology
126.96.36.199 Rest of Latin America Metagenomics Market by Application
13 Company Profile
13.1 Bio-Rad Laboratories
13.1.1 Company Overview
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Illumina Inc.
13.2.1 Company Overview
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 PerkinElmer Inc.
13.3.1 Company Overview
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Thermo Fisher Scientific, Inc.
13.4 Company Overview
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Novogene Co., Ltd.
13.5.1 Company Overview
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Promega Corporation
13.6.1 Company Overview
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7.1 Company Overview
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Takara Bio, Inc.
13.8.1 Company Overview
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Oxford Nanopore Technologies
13.9.1 Company Overview
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 F. Hoffmann-La Roche Ltd.
13.10.1 Company Overview
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11.1 Company Overview
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
14. Competitive Landscape
14.1 Competitive Bench marking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
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.
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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.
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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.
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Step 4: QA/QC Process
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