Breast Pump Market
Breast Pump Market Forecasts to 2028 - Global Analysis By Type (Battery powered Breast Pump, Manual Breast Pump, Electrical Breast Pump), Product (Open System, Closed System), Technology (Single Electric, Manual, Wearable, Double Electric), Application (Consumer Grade, Hospital Grade Pump), End User (Hospitals, Maternity Centers, Homecare Settings, Other End Users), and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $845.82 BN |
|
Projected Year Value (2028) |
US $905.37 BN |
|
CAGR (2022 - 2028) |
8.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Breast Pump Market is accounted for $545.82 million in 2022 and is expected to reach $905.37 million by 2028 growing at a CAGR of 8.8% during the forecast period. A breast pump is a mechanical tool that nursing moms use to remove milk from their breasts. They come in two varieties: manually operated ones that are propelled by hand or foot motions, and automatically operated ones that are propelled by electricity. Breast pumps are also utilised to draw out flat or inverted nipples to make it simpler for a nursing infant to latch on to its mother's breast, alleviate engorged breasts & obstructed milk ducts, and maintain or increase a woman's milk production. In order to encourage milk supply when a baby is unable to latch on and eat, doctors advise breast pumps.
According to the U.S. Department of Labor (DOL) 2018 report, it is expected that by 2024, women in the age group of 25 to 34 years would constitute the major share of employed women in the U.S.
Market Dynamics:
Driver:
Increasing consumer awareness
The market for breast pumps is expected to increase due to rising consumer awareness and benevolent government initiatives. For instance, the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) created The Baby Friendly Hospital Initiative (BFHI), which promotes evidence-based practises for breastfeeding success, to increase breastfeeding rates and help families reach their breastfeeding goals. Similar to this, the Affordable Care Act now requires that the majority of insurance plans pay for specific breastfeeding assistance and supplies, such breast pumps. Thus, it is anticipated that these activities will expand the use of these items.
Restraint:
Damage of Breast Tissues Leading to Reduction of Milk Supply
Damage to the nipple and breast tissue, an increase in drug production, a reduction in the amount of milk produced manually, and a drop in the nutrients in breast milk are some variables that significantly hinder market expansion.
Opportunity:
Increasing breastfeeding complications
Breast pumps will soon be in demand due to rising nursing problems among women. Poor attachment, breast engorgement, and nipple pain in women are all breastfeeding difficulties. Therefore, these problems among women make breastfeeding more challenging. The majority of mothers stop breastfeeding their newborn children too soon, according to Nemours, a non-profit organisation dedicated to children's health, which increases demand for breast pumps. Engorgement is also anticipated to play a significant role in influencing the demand for breast pumps during the projected period.
Threat:
High cost of products
One of the main challenges restricting this industry is the cost of breast pumps. Users are reluctant to purchase breast pumps because of their high price, particularly in poor and underdeveloped nations. Additionally, it's anticipated that the growth of the breast pump market industry would be hindered by the potential of contamination with foreign chemicals.
Covid-19 Impact
Due to the COVID-19 epidemic, the market saw a negative impact. But once COVID-19 vaccinations were available, nations began to open their borders internationally, which helped to normalise the supply chain during the post-pandemic period. Moreover, after the epidemic, the birth rate also rose. For instance, some researchers at the University of Michigan Health Organization expected that births will increase again, resulting in a typical volume of babies being born. Thus, in the upcoming years, the market is projected to see a gradual increase in the demand for breast pumps.
The open system segment is expected to be the largest during the forecast period
The open system segment is estimated to have a lucrative growth, due to these systems are freer of pollution, and their growth can be attributable to their greater consumption rates. Products with closed systems may have a cover that serves as a barrier between a pumping unit and a variety kit or a motor that prevents the contamination of milk that has been collected. Additionally, this form of barrier stops dairy product particles from entering the motor or pump lines. These goods offer improved safety procedures, guarantee the least amount of contaminants, and are incredibly simple to clean. In the following years, it is anticipated that the segment expansion will be driven by the release of practical new products.
The single electric segment is expected to have the highest CAGR during the forecast period
The single electric segment is anticipated to witness the fastest CAGR growth during the forecast period, due to these products have much stronger suction and are motor-powered, which accelerates pumping considerably. Comparing the double moving model to the conventional pump, the time required is reduced. Although manufacturers continue to apply cutting-edge technologies to develop lightweight, noisier items, electric pumps are frequently fairly heavy and noisy. Solely Yours Ultra Breast Pump by Ameda AG and Isis iQ Duo Breast Pump by Philips AVENT are two important brands in this market. In the years to come, technological advancements with the introduction of lightweight products like the Platinum eagle electric breast pump motor by Ameda and the Electric swing chest pumps by Medela are anticipated to boost segment expansion.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to the high rates of female employment, high healthcare spending, sophisticated healthcare infrastructure, and high patient awareness levels in this region, North America dominated the global market in terms of revenue share. This is primarily due to the increased market penetration of breast pumps in this region. Leading companies in the market are also creating technologically advanced breast pumps, which will drive the market overall throughout the projection period.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the high prevalence of work for women, the acceptance of health care costs, and better reimbursement regulations. Russia is the most lucrative market among Eastern European nations, and Europe as a whole contributes a sizeable market share to the breast pump business. Due to features of breast penis pumps that enable women to maintain dairy production and provide nutritious food to infants in their absence, the European market for breast pumps has experienced significant growth in recent years.
Key players in the market
Some of the key players profiled in the Breast Pump Market include Ameda Breastfeeding Solutions, Baby Buddha Product, Horigen, Universal Corporation Ltd, Freemie, Lansinoh Laboratories, Philips Avent, Linco Baby Merchandise Work’s Co., Ltd, BelleMa, Snow-bear and Medela.
Key Developments:
In November 2021, Ameda launched 'The Ameda Purely Yours double electric breast pump' that has adjustable speed and suction power so that every mom can find a particular setting that works for them. It can also be operated utilizing battery power. This pump contains a dual hygiene-kit milk collection system that helps to ensure that the milk goes in the baby's mouth properly and the harmful bacteria stay out of the collection system.
In March 2021, Philips AVENT launched its New Electric Breast Pump for facilitating the Baby's Natural Feeding Motion. With a compact, portable design and innovative natural motion technology, the new breast pump was created for fulfilling the requirements of mothers who are balancing a busy lifestyle while breastfeeding. It contains a powerful combination of suction and nipple stimulation processes that exactly mimic the wave-like tongue motion of the baby while breastfeeding.
In November 2020, Medela and Aeroflow Breast pump successfully launched a dream at-home breastfeeding opportunity for mothers across the U.S. It facilitated the practice of feeding a sleeping infant by the mother to encourage the baby to sleep for long hours.
Types Covered:
• Battery powered Breast Pump
• Manual Breast Pump
• Electrical Breast Pump
• Other Types
Products Covered:
• Open System
• Closed System
Technologies Covered:
• Single Electric
• Manual
• Wearable
• Double Electric
Applications Covered:
• Consumer Grade Pump
• Hospital Grade Pump
End Users Covered:
• Hospitals
• Maternity Centers
• Homecare Settings
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Breast Pump Market, By Type
5.1 Introduction
5.2 Battery powered Breast Pump
5.3 Manual Breast Pump
5.4 Electrical Breast Pump
5.5 Other Types
6 Global Breast Pump Market, By Product
6.1 Introduction
6.2 Open System
6.3 Closed System
7 Global Breast Pump Market, By Technology
7.1 Introduction
7.2 Single Electric
7.3 Manual
7.4 Wearable
7.5 Double Electric
8 Global Breast Pump Market, By Application
8.1 Introduction
8.2 Consumer Grade Pump
8.3 Hospital Grade Pump
9 Global Breast Pump Market, By End User
9.1 Introduction
9.2 Hospitals
9.3 Maternity Centers
9.4 Homecare Settings
9.5 Other End Users
10 Global Breast Pump Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Ameda Breastfeeding Solutions
12.2 Baby Buddha Product
12.3 Horigen
12.4 Universal Corporation Ltd
12.5 Freemie
12.6 Lansinoh Laboratories
12.7 Philips Avent
12.8 Linco Baby Merchandise Work’s Co., Ltd
12.9 BelleMa
12.10 Snow-bear
12.11 Medela
List of Tables
1 Global Breast Pump Market Outlook, By Region (2020-2028) ($MN)
2 Global Breast Pump Market Outlook, By Type (2020-2028) ($MN)
3 Global Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
4 Global Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
5 Global Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
6 Global Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
7 Global Breast Pump Market Outlook, By Product (2020-2028) ($MN)
8 Global Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
9 Global Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
10 Global Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
11 Global Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
12 Global Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
13 Global Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
14 Global Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
15 Global Breast Pump Market Outlook, By Application (2020-2028) ($MN)
16 Global Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
17 Global Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
18 Global Breast Pump Market Outlook, By End User (2020-2028) ($MN)
19 Global Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
20 Global Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
21 Global Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
22 Global Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
23 North America Breast Pump Market Outlook, By Country (2020-2028) ($MN)
24 North America Breast Pump Market Outlook, By Type (2020-2028) ($MN)
25 North America Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
26 North America Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
27 North America Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
28 North America Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
29 North America Breast Pump Market Outlook, By Product (2020-2028) ($MN)
30 North America Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
31 North America Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
32 North America Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
33 North America Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
34 North America Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
35 North America Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
36 North America Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
37 North America Breast Pump Market Outlook, By Application (2020-2028) ($MN)
38 North America Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
39 North America Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
40 North America Breast Pump Market Outlook, By End User (2020-2028) ($MN)
41 North America Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
42 North America Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
43 North America Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
44 North America Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
45 Europe Breast Pump Market Outlook, By Country (2020-2028) ($MN)
46 Europe Breast Pump Market Outlook, By Type (2020-2028) ($MN)
47 Europe Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
48 Europe Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
49 Europe Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
50 Europe Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
51 Europe Breast Pump Market Outlook, By Product (2020-2028) ($MN)
52 Europe Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
53 Europe Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
54 Europe Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
55 Europe Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
56 Europe Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
57 Europe Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
58 Europe Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
59 Europe Breast Pump Market Outlook, By Application (2020-2028) ($MN)
60 Europe Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
61 Europe Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
62 Europe Breast Pump Market Outlook, By End User (2020-2028) ($MN)
63 Europe Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
64 Europe Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
65 Europe Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
66 Europe Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
67 Asia Pacific Breast Pump Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Breast Pump Market Outlook, By Type (2020-2028) ($MN)
69 Asia Pacific Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
70 Asia Pacific Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
71 Asia Pacific Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
72 Asia Pacific Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
73 Asia Pacific Breast Pump Market Outlook, By Product (2020-2028) ($MN)
74 Asia Pacific Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
75 Asia Pacific Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
76 Asia Pacific Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
77 Asia Pacific Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
78 Asia Pacific Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
79 Asia Pacific Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
80 Asia Pacific Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
81 Asia Pacific Breast Pump Market Outlook, By Application (2020-2028) ($MN)
82 Asia Pacific Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
83 Asia Pacific Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
84 Asia Pacific Breast Pump Market Outlook, By End User (2020-2028) ($MN)
85 Asia Pacific Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
86 Asia Pacific Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
87 Asia Pacific Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
88 Asia Pacific Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
89 South America Breast Pump Market Outlook, By Country (2020-2028) ($MN)
90 South America Breast Pump Market Outlook, By Type (2020-2028) ($MN)
91 South America Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
92 South America Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
93 South America Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
94 South America Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
95 South America Breast Pump Market Outlook, By Product (2020-2028) ($MN)
96 South America Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
97 South America Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
98 South America Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
99 South America Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
100 South America Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
101 South America Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
102 South America Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
103 South America Breast Pump Market Outlook, By Application (2020-2028) ($MN)
104 South America Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
105 South America Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
106 South America Breast Pump Market Outlook, By End User (2020-2028) ($MN)
107 South America Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
108 South America Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
109 South America Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
110 South America Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
111 Middle East & Africa Breast Pump Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Breast Pump Market Outlook, By Type (2020-2028) ($MN)
113 Middle East & Africa Breast Pump Market Outlook, By Battery powered Breast Pump (2020-2028) ($MN)
114 Middle East & Africa Breast Pump Market Outlook, By Manual Breast Pump (2020-2028) ($MN)
115 Middle East & Africa Breast Pump Market Outlook, By Electrical Breast Pump (2020-2028) ($MN)
116 Middle East & Africa Breast Pump Market Outlook, By Other Types (2020-2028) ($MN)
117 Middle East & Africa Breast Pump Market Outlook, By Product (2020-2028) ($MN)
118 Middle East & Africa Breast Pump Market Outlook, By Open System (2020-2028) ($MN)
119 Middle East & Africa Breast Pump Market Outlook, By Closed System (2020-2028) ($MN)
120 Middle East & Africa Breast Pump Market Outlook, By Technology (2020-2028) ($MN)
121 Middle East & Africa Breast Pump Market Outlook, By Single Electric (2020-2028) ($MN)
122 Middle East & Africa Breast Pump Market Outlook, By Manual (2020-2028) ($MN)
123 Middle East & Africa Breast Pump Market Outlook, By Wearable (2020-2028) ($MN)
124 Middle East & Africa Breast Pump Market Outlook, By Double Electric (2020-2028) ($MN)
125 Middle East & Africa Breast Pump Market Outlook, By Application (2020-2028) ($MN)
126 Middle East & Africa Breast Pump Market Outlook, By Consumer Grade Pump (2020-2028) ($MN)
127 Middle East & Africa Breast Pump Market Outlook, By Hospital Grade Pump (2020-2028) ($MN)
128 Middle East & Africa Breast Pump Market Outlook, By End User (2020-2028) ($MN)
129 Middle East & Africa Breast Pump Market Outlook, By Hospitals (2020-2028) ($MN)
130 Middle East & Africa Breast Pump Market Outlook, By Maternity Centers (2020-2028) ($MN)
131 Middle East & Africa Breast Pump Market Outlook, By Homecare Settings (2020-2028) ($MN)
132 Middle East & Africa Breast Pump Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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