The Personalized Medicine Market size was estimated at USD 541.1 billion in 2022 and is expected to reach USD 933.19 billion by 2030 at a CAGR of 7.05% during the forecast period of 2023-2030.
Personalized medicine integrates genetic profiles of an individual to guide diagnostic, preventive, and treatment decisions. Expanding data repository of the Human Genome Project has enhanced the access to genetic profiles of patients, further facilitating patient-specific treatment regimen. Personalized medicine modalities offer insights on the unique genetic and molecular profile of, patients, which helps in predicting the patient's respone to the treatment.
Get more information on Personalized Medicine Market - Request Free Sample Report
DRIVERS
Increase in the adoption of advanced healthcare facilities
development of efficient and advanced technology
The primary growth drivers of the global personalized medicine market are the development of efficient and advanced technology, increased public awareness about personalized medicine, increasing government initiatives around the world, and the growing development of genetic databases. Furthermore, rising customized medicine usage in neurology, pulmonary, antiviral, and psychiatry, as well as emerging economies, would open up new potential for the global personalized medicine market.
RESTRAIN
high cost of customized pharmaceuticals
OPPORTUNITY
Favorable government reimbursement rules
increased public awareness about the use of personalized medicine therapy to treat various types of cancer and rapid innovations in personalized medicine for various other disorders, the personalized medicine market in emerging nations.
CHALLENGES
Only a Patient's Own Data Is Used for Personalized Medicine
Traditional medicine, on the other hand, is based on population-derived guidelines. Customized medicine can be defined differently depending on criteria such as clinical indications, treatments, and diagnostics used.
Abbott's businesses in Russia and Ukraine account for only 2% of total revenues and net assets, and the financial impact of Russia's invasion of Ukraine has not been material to Abbott's operations or financial condition to yet. Future ramifications are difficult to foresee, but Abbott does not expect the Russia-Ukraine conflict to have a major impact on its business or financial situation at this time.
IMPACT OF ONGOING RECESSION
The coronavirus (COVID-19) pandemic had a variety of effects on Abbott's diverse healthcare operations over the year. As a result of the COVID-19 pandemic, Abbott's Diagnostics segment had the most substantial change in revenues. During COVID-19, Abbott engaged teams across several fronts to develop and market numerous novel diagnostic tests to diagnose COVID-19.
By Product
Personalized Medicine Diagnostics
Genetic Testing
DTC Diagnostics
Others
Personalized Medicine Therapeutics
Pharmaceutical
Genomic Medicine
Medical Devices
In 2022, the personalized medicine diagnostics segment is expected to hold the highest market share during the forecast period owing to the growing burden of chronic diseases such as cancer, diabetes, and cardiovascular disease, and the concomitant rise in the need for customized medicine diagnostics for its diagnosis. Additionally, increased public and healthcare provider awareness of advanced personalized medical solutions is driving segment growth.
By Application
Oncology
Neurology
Cardiology
Antiviral
Psychiatry
Immunology
Others
In 2022, the oncology segment is expected to dominate the market growth during the forecast period. In cancer treatment, there is an increasing desire for personalized treatments. Furthermore, customized medicine enables exact cancer detection at the molecular level, allowing healthcare providers to pinpoint the individual genetic mutations or other biomarkers driving the cancer. This accelerates the expansion of the personalized medicine market. The cardiovascular segment, on the other hand, is expected to grow at the quickest rate during the forecast period, owing to a growth in the frequency of CVS problems and an increase in the use of personalized pharmaceuticals in its treatment.
By End User
Hospitals and Clinical Care
Diagnostic Companies and Testing Facilities
Academic Research Institutes and Research Laboratories
Contract Research Organizations
Bio and Health Informatics Companies
Others
.png)
Need any customization research on Personalized Medicine Market - Enquiry Now
In 2022, the hospitals and clinical care segment is expected to dominate the market growth during the forecast period owing to the specialist facilities supplied by hospitals for individualized treatments and solutions for various diseases. Others, on the other hand, are expected to grow at the fastest rate during the personalized medicine market forecast, owing to increased investment by pharma and biotech companies in personalized medicine fields, as well as a broad product offering by diagnostic tool companies in personalized medicines.
North America held a significant market share in 2022. The presence of several major players, such as Abbott, Qiagen, GE Healthcare and BASF SE is the prime factor boosting the growth of personalized medicine market in this region. In addition, the high prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes in North America, is increasing the demand for personalized medicines solutions that can provide more targeted and effective treatments. Furthermore, North America has a highly advanced healthcare infrastructure, with a strong emphasis on innovation and the adoption of new technologies. This has enabled the development and widespread adoption of personalized medicine technologies in the region.
Asia-Pacific is witness to expand fastest CAGR rate during the forecast period owing to presence of pharmaceutical companies in the region as well as growth in the purchasing power of populated countries, such as China and India. Moreover, rise in personalized medicine expenditure and adoption of high-tech processing to improve the production of personalized solutions, is anticipated to drive the growth of the market. Furthermore, Asia-Pacific region has a large and growing population, which is driving demand for more personalized healthcare solutions, including personalized medicines. Also, the prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes is increasing in the Asia-Pacific region, which is driving demand for more effective and targeted treatments.
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
The major key players are GE Healthcare, Illumina, Inc., ASURAGEN, INC., Abbott, Dako A/S, Exact Sciences Corporation, Danaher Corporation (Cepheid, Inc.), Decode Genetics, Inc., QIAGEN, Exagen Inc., Precision Biologics, Celera Diagnostics LLC., Biogen, Genelex, Genentech, Inc., 23andMe, Inc., and Others.
23andMe, Inc., In July 2023, 23andMe launched a new Simvastatin Medication Insight study, which is part of a collection of 23andMe, Inc. reports that investigate how genetics can influence people's response to various medications, as well as their risk of adverse effects. The Simvastatin Medication Insight report examines individual responses to simvastatin, a statin medicine used to decrease blood cholesterol that is also marketed under the brand names Zocor and Flolipid.
Qiagen, In June 2023, Qiagen announced that the Danish National Genome Center has chosen its 'QCI Interpret' software to provide sequencing-based solutions for cancer patients. For evaluating cancer results collected from whole-genome sequencing data, the variant interpretation and reporting program was employed. This advancement is part of Denmark's personalized medicine agenda, which includes making WGS the standard of care for certain patient categories.
GE Healthcare, in June 2023, GE Healthcare will present its latest solutions in precision care and personalized medicine at the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2023 annual meeting. In the field of personalized medicine, the business introduced the SIGNA PET/MR system, which is intended to help clinicians see the smallest lesions, explore new tracers, and develop more precise treatment routes for each patient.
Illumina, in June 2023, Illumina will debut its new PrimateAI-3D AI system, which accurately identifies disease-causing genetic abnormalities in patients. The method is trained on genomic sequences and using deep neural network designs. PrimateAI-3D seeks to solve the problems associated with the successful deployment of personalized genomic medicine by providing accurate predictions about disease-causing variations.
| Report Attributes | Details |
| Market Size in 2022 | US$ 541.1 Bn |
| Market Size by 2030 | US$ 933.19 Bn |
| CAGR | CAGR of 7.05% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Personalized Medicine Diagnostics, Personalized Medicine Therapeutics) • By Application (Oncology, Neurology, Cardiology, Antiviral, Psychiatry, Immunology, Others) • By End User (Hospitals and Clinical Care, Diagnostic Companies and Testing Facilities, Academic Research Institutes and Research Laboratories, Contract Research Organizations, Bio and Health Informatics Companies, 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 | GE Healthcare, Illumina, Inc., ASURAGEN, INC., Abbott, Dako A/S, Exact Sciences Corporation, Danaher Corporation (Cepheid, Inc.), Decode Genetics, Inc., QIAGEN, Exagen Inc., Precision Biologics, Celera Diagnostics LLC., Biogen, Genelex, Genentech, Inc., 23andMe, Inc. |
| Key Drivers | • Increase in the adoption of advanced healthcare facilities • development of efficient and advanced technology |
| Market Opportunities | • Favorable government reimbursement rules |
Ans: North America segment is expected to held the highest market share in 2022.
Ans: personalized medicine market is anticipated to expand by 11.0% from 2023 to 2030.
Ans: The growth rate of personalized medicine market is expected to grow USD 691.3 billion by 2030.
Ans: personalized medicine market size was valued at USD 300 billion in 2022.
Ans: high cost of customized pharmaceuticals.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Personalized Medicine Market Segmentation, By Product
8.1 Personalized Medicine Diagnostics
8.1.1 Genetic Testing
8.1.2 DTC Diagnostics
8.1.3 Others
8.2 Personalized Medicine Therapeutics
8.2.1 Pharmaceutical
8.2.2 Genomic Medicine
8.2.3 Medical Devices
9. Personalized Medicine Market Segmentation, By Application
9.1 Oncology
9.2 Neurology
9.3 Cardiology
9.4 Antiviral
9.5 Psychiatry
9.6 Immunology
9.7 Others
10. Personalized Medicine Market Segmentation, By End User
10.1 Hospitals and Clinical Care
10.2 Diagnostic Companies and Testing Facilities
10.3 Academic Research Institutes and Research Laboratories
10.4 Contract Research Organizations
10.5 Bio and Health Informatics Companies
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Personalized Medicine Market by Country
11.2.2North America Personalized Medicine Market by Product
11.2.3 North America Personalized Medicine Market by Application
11.2.4 North America Personalized Medicine Market by End User
11.2.5 USA
11.2.5.1 USA Personalized Medicine Market by Product
11.2.5.2 USA Personalized Medicine Market by Application
11.2.5.3 USA Personalized Medicine Market by End User
11.2.6 Canada
11.2.6.1 Canada Personalized Medicine Market by Product
11.2.6.2 Canada Personalized Medicine Market by Application
11.2.6.3 Canada Personalized Medicine Market by End User
11.2.7 Mexico
11.2.7.1 Mexico Personalized Medicine Market by Product
11.2.7.2 Mexico Personalized Medicine Market by Application
11.2.7.3 Mexico Personalized Medicine Market by End User
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Personalized Medicine Market by Country
11.3.1.2 Eastern Europe Personalized Medicine Market by Product
11.3.1.3 Eastern Europe Personalized Medicine Market by Application
11.3.1.4 Eastern Europe Personalized Medicine Market by End User
11.3.1.5 Poland
11.3.1.5.1 Poland Personalized Medicine Market by Product
11.3.1.5.2 Poland Personalized Medicine Market by Application
11.3.1.5.3 Poland Personalized Medicine Market by End User
11.3.1.6 Romania
11.3.1.6.1 Romania Personalized Medicine Market by Product
11.3.1.6.2 Romania Personalized Medicine Market by Application
11.3.1.6.4 Romania Personalized Medicine Market by End User
11.3.1.7 Turkey
11.3.1.7.1 Turkey Personalized Medicine Market by Product
11.3.1.7.2 Turkey Personalized Medicine Market by Application
11.3.1.7.3 Turkey Personalized Medicine Market by End User
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Personalized Medicine Market by Product
11.3.1.8.2 Rest of Eastern Europe Personalized Medicine Market by Application
11.3.1.8.3 Rest of Eastern Europe Personalized Medicine Market by End User
11.3.2 Western Europe
11.3.2.1 Western Europe Personalized Medicine Market by Product
11.3.2.2 Western Europe Personalized Medicine Market by Application
11.3.2.3 Western Europe Personalized Medicine Market by End User
11.3.2.4 Germany
11.3.2.4.1 Germany Personalized Medicine Market by Product
11.3.2.4.2 Germany Personalized Medicine Market by Application
11.3.2.4.3 Germany Personalized Medicine Market by End User
11.3.2.5 France
11.3.2.5.1 France Personalized Medicine Market by Product
11.3.2.5.2 France Personalized Medicine Market by Application
11.3.2.5.3 France Personalized Medicine Market by End User
11.3.2.6 UK
11.3.2.6.1 UK Personalized Medicine Market by Product
11.3.2.6.2 UK Personalized Medicine Market by Application
11.3.2.6.3 UK Personalized Medicine Market by End User
11.3.2.7 Italy
11.3.2.7.1 Italy Personalized Medicine Market by Product
11.3.2.7.2 Italy Personalized Medicine Market by Application
11.3.2.7.3 Italy Personalized Medicine Market by End User
11.3.2.8 Spain
11.3.2.8.1 Spain Personalized Medicine Market by Product
11.3.2.8.2 Spain Personalized Medicine Market by Application
11.3.2.8.3 Spain Personalized Medicine Market by End User
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Personalized Medicine Market by Product
11.3.2.9.2 Netherlands Personalized Medicine Market by Application
11.3.2.9.3 Netherlands Personalized Medicine Market by End User
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Personalized Medicine Market by Product
11.3.2.10.2 Switzerland Personalized Medicine Market by Application
11.3.2.10.3 Switzerland Personalized Medicine Market by End User
11.3.2.11. Austria
11.3.2.11.1 Austria Personalized Medicine Market by Product
11.3.2.11.2 Austria Personalized Medicine Market by Application
11.3.2.11.3 Austria Personalized Medicine Market by End User
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Personalized Medicine Market by Product
11.3.2.12.2 Rest of Western Europe Personalized Medicine Market by Application
11.3.2.12.3 Rest of Western Europe Personalized Medicine Market by End User
11.4 Asia-Pacific
11.4.1 Asia-Pacific Personalized Medicine Market by Country
11.4.2 Asia-Pacific Personalized Medicine Market by Product
11.4.3 Asia-Pacific Personalized Medicine Market by Application
11.4.4 Asia-Pacific Personalized Medicine Market by End User
11.4.5 China
11.4.5.1 China Personalized Medicine Market by Product
11.4.5.2 China Personalized Medicine Market by End User
11.4.5.3 China Personalized Medicine Market by Application
11.4.6 India
11.4.6.1 India Personalized Medicine Market by Product
11.4.6.2 India Personalized Medicine Market by Application
11.4.6.3 India Personalized Medicine Market by End User
11.4.7 Japan
11.4.7.1 Japan Personalized Medicine Market by Product
11.4.7.2 Japan Personalized Medicine Market by Application
11.4.7.3 Japan Personalized Medicine Market by End User
11.4.8 South Korea
11.4.8.1 South Korea Personalized Medicine Market by Product
11.4.8.2 South Korea Personalized Medicine Market by Application
11.4.8.3 South Korea Personalized Medicine Market by End User
11.4.9 Vietnam
11.4.9.1 Vietnam Personalized Medicine Market by Product
11.4.9.2 Vietnam Personalized Medicine Market by Application
11.4.9.3 Vietnam Personalized Medicine Market by End User
11.4.10 Singapore
11.4.10.1 Singapore Personalized Medicine Market by Product
11.4.10.2 Singapore Personalized Medicine Market by Application
11.4.10.3 Singapore Personalized Medicine Market by End User
11.4.11 Australia
11.4.11.1 Australia Personalized Medicine Market by Product
11.4.11.2 Australia Personalized Medicine Market by Application
11.4.11.3 Australia Personalized Medicine Market by End User
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Personalized Medicine Market by Product
11.4.12.2 Rest of Asia-Pacific Personalized Medicine Market by Application
11.4.12.3 Rest of Asia-Pacific Personalized Medicine Market by End User
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Personalized Medicine Market by Country
11.5.1.2 Middle East Personalized Medicine Market by Product
11.5.1.3 Middle East Personalized Medicine Market by Application
11.5.1.4 Middle East Personalized Medicine Market by End User
11.5.1.5 UAE
11.5.1.5.1 UAE Personalized Medicine Market by Product
11.5.1.5.2 UAE Personalized Medicine Market by Application
11.5.1.5.3 UAE Personalized Medicine Market by End User
11.5.1.6 Egypt
11.5.1.6.1 Egypt Personalized Medicine Market by Product
11.5.1.6.2 Egypt Personalized Medicine Market by Application
11.5.1.6.3 Egypt Personalized Medicine Market by End User
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Personalized Medicine Market by Product
11.5.1.7.2 Saudi Arabia Personalized Medicine Market by Application
11.5.1.7.3 Saudi Arabia Personalized Medicine Market by End User
11.5.1.8 Qatar
11.5.1.8.1 Qatar Personalized Medicine Market by Product
11.5.1.8.2 Qatar Personalized Medicine Market by Application
11.5.1.8.3 Qatar Personalized Medicine Market by End User
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Personalized Medicine Market by Product
11.5.1.9.2 Rest of Middle East Personalized Medicine Market by Application
11.5.1.9.3 Rest of Middle East Personalized Medicine Market by End User
11.5.2 Africa
11.5.2.1 Africa Transfusion Diagnostics Market by Country
11.5.2.2 Africa Personalized Medicine Market by Product
11.5.2.3 Africa Personalized Medicine Market by Application
11.5.2.4 Africa Personalized Medicine Market by End User
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Personalized Medicine Market by Product
11.5.2.5.2 Nigeria Personalized Medicine Market by Application
11.5.2.5.3 Nigeria Personalized Medicine Market by End User
11.5.2.6 South Africa
11.5.2.6.1 South Africa Personalized Medicine Market by Product
11.5.2.6.2 South Africa Personalized Medicine Market by Application
11.5.2.6.3 South Africa Personalized Medicine Market by End User
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Personalized Medicine Market by Product
11.5.2.7.2 Rest of Africa Personalized Medicine Market by Application
11.5.2.7.3 Rest of Africa Personalized Medicine Market by End User
11.6 Latin America
11.6.1 Latin America Personalized Medicine Market by Country
11.6.2 Latin America Personalized Medicine Market by Product
11.6.3 Latin America Personalized Medicine Market by Application
11.6.4 Latin America Personalized Medicine Market by End User
11.6.5 Brazil
11.6.5.1 Brazil Personalized Medicine Market by Product
11.6.5.2 Brazil Personalized Medicine Market by Application
11.6.5.3 Brazil Personalized Medicine Market by End User
11.6.6 Argentina
11.6.6.1 Argentina Personalized Medicine Market by Product
11.6.6.2 Argentina Personalized Medicine Market by Application
11.6.6.3 Argentina Personalized Medicine Market by End User
11.6.7 Colombia
11.6.7.1 Colombia Personalized Medicine Market by Product
11.6.7.2 Colombia Personalized Medicine Market by Application
11.6.7.3 Colombia Personalized Medicine Market by End User
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Personalized Medicine Market by Product
11.6.8.2 Rest of Latin America Personalized Medicine Market by Application
11.6.8.3 Rest of Latin America Personalized Medicine Market by End User
12 Company Profile
12.1 GE Healthcare
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Product / Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Illumina, Inc.
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 ASURAGEN, INC.
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Abbott
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Dako A/S
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Exact Sciences Corporation
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Danaher Corporation (Cepheid, Inc.)
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Decode Genetics, Inc.
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 QIAGEN
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Exagen Inc.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
12.11 Precision Biologics
12.11.1 Company Overview
12.11.2 Financials
12.11.3 Product/Services Offered
12.11.4 SWOT Analysis
12.11.5 The SNS View
12.12 Celera Diagnostics LLC.
12.12.1 Company Overview
12.12.2 Financials
12.12.3 Product/Services Offered
12.12.4 SWOT Analysis
12.12.5 The SNS View
12.12.5 The SNS View
12.13 Biogen
12.13.1 Company Overview
12.13.2 Financials
12.13.3 Product/Services Offered
12.13.4 SWOT Analysis
12.13.5 The SNS View
12.13.5 The SNS View
12.14 Genelex
12.14.1 Company Overview
12.14.2 Financials
12.14.3 Product/Services Offered
12.14.4 SWOT Analysis
12.14.5 The SNS View
12.15 Genentech, Inc.
12.15.1 Company Overview
12.15.2 Financials
12.15.3 Product/Services Offered
12.15.4 SWOT Analysis
12.15.5 The SNS View
12.16 23andMe, Inc.
12.16.1 Company Overview
12.16.2 Financials
12.16.3 Product/Services Offered
12.16.4 SWOT Analysis
12.16.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. 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 Ophthalmology PACS Market Size was esteemed at USD 143.83 million of every 2022, and is expected to arrive at USD 245.38 million by 2030, and develop at a CAGR of 6.9% over the gauge period 2023-2030.
The Interactive Patient Engagement Solutions Market size was assessed at USD 151.18 billion by 2022, and is supposed to arrive at USD 538.19 billion by 2030 and develop at a CAGR of 17.2% over the forecast period 2023-2030.
The Orthopedic Devices Market size was USD 34.1 Billion in 2022 and is expected to reach USD 50.38 Billion by 2030 and grow at a CAGR of 5% over the forecast period of 2023-2030.
The Bone Morphogenetic Protein Market size was estimated USD 460.1 million in 2022 and is expected to reach USD 624.8 million by 2030 at a CAGR of 3.9% during the forecast period of 2023-2030.
The Laboratory Informatics Market Size was esteemed at USD 3.30 billion 2022, and expected to arrive at USD 4.88 billion by 2030, and develop at a CAGR of 5% over the conjecture period 2023-2030.
The Hospital Furniture Market was estimated at USD 9.14 billion in 2022 and is anticipated to expand at a compound annual growth rate approx. CAGR of 6.90% for the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
