Research Methodology on Blood Glucose Test Strip Packaging Market
Introduction
The blood glucose test strip packaging market was evaluated in terms of value (USD million). The research methodology incorporated both top-down and bottom-up approaches for data triangulation, with assumptions made for various parameters based on secondary research.
Objectives
The primary objective of the research was to study the dynamics of the blood glucose test strip packaging market based on product type and end user. Other objectives included analyzing the market for the blood glucose test strip packaging market on the basis of geographic regions and providing qualitative and quantitative market insights to stakeholders.
Research Scope
The research scope covered drivers, restraints, opportunities, and regional analysis. In terms of regional analysis, the study includes North America, Europe, Asia-Pacific, and Rest of the World, with subsequent sub-segmentation. The market segmentation for the report is given below:
Market Segmentation
By Product Type
- Plastic Packaging
- Paper Packaging
- Metal Packaging
By End User
- Hospitals
- Clinics
- Research Institutes
By Regional Analysis
- North America
- Europe
- Asia-Pacific
- Rest of the World
Data Collection and Analysis
To generate reports, extensive primary and secondary research was carried out. In-depth interviews and discussions were conducted with a number of key industry experts and opinion leaders to collate information relevant to the research problem. Secondary research was conducted to understand customer behaviour, value chain, competitive landscape, and market dynamics such as drivers, restraints, and opportunities.
In order to understand the market, a top-down approach was followed by assessing each segment at a macro level. A bottom-up approach was adopted to arrive at an estimate, starting with individual segments and adding up the market sizes of all the segments, to arrive at the total market size.
Primary Research
Industry professionals from key market players, such as manufacturers, processors, suppliers, traders, and distributors were contacted for primary research. In-depth interviews and multiple round-table discussions were conducted with leading market experts, to obtain qualitative insights and in-depth knowledge about the global blood glucose test strip packaging market.
The interviews were conducted between January and June 2022. Various sources were referred to in order to identify and collect information that was useful for the extensive commercial study of the blood glucose test strip packaging market. These sources included industry databases, directories, technical handbooks, and primary and secondary study articles.
Secondary Research
Several secondary sources, such as corporate annual reports, industry publications, and other databases, such as Hoovers, Bloomberg, and Factiva, were referred to and profiled to determine the market size of the global blood glucose test strip packaging market. The market size estimation was done based on the bottom-up approach, wherein the overall market was divided into segments and sub-segments, and the revenue generated by each segment was calculated to arrive at the total market size.
Market Estimation
The total size of the market was determined both qualitatively and quantitatively. The qualitative data was collected from secondary sources and industry experts, and quantitative data was obtained from the primary research. The market size was determined by developing a data matrix for the global blood glucose test strip packaging market.
Testing
Data triangulation, validation, and market sizing were done to arrive at the final market size. Data triangulation involved collecting input from key industry experts, researchers, and other stakeholders. Data obtained from primary and secondary sources were labelled, categorized, and organized properly. The primary and secondary sources of information were validated by conducting multiple interviews with leading industry stakeholders.
Finally, the data were grouped into several key segments and sub-segments, with a special focus on depth, quality, and consistency. These segments and sub-segments were further analyzed using certain tools, such as Porter’s Five Forces Model and other market dynamics to estimate the total market size.
Result & Analysis
The qualitative and quantitative analysis of trends in the global blood glucose test strip packaging market, based on the object has been presented in this report. Using extensive primary and secondary research, market estimates and forecasts for the period 2023-2030 have been presented. An analysis of the competitive landscape has been included, along with strategic recommendations and updates on the recent developments in the industry.