Healthcare Staffing Market
Healthcare Staffing Market Forecasts to 2030 - Global Analysis By Service Type (Travel Nurse Staffing, Per Diem Nurse Staffing, Locum Tenens Staffing, Allied Healthcare Staffing, Physician Staffing, Therapist Staffing, Medical Technician Staffing, Administrative Staffing, Home Health Aide Staffing and Other Service Types), End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $43.78 BN |
|
Projected Year Value (2030) |
US $73.15 BN |
|
CAGR (2024 - 2030) |
8.93% |
|
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 Healthcare Staffing Market is accounted for $43.78 billion in 2024 and is expected to reach $73.15 billion by 2030 growing at a CAGR of 8.93% during the forecast period. The process of finding, employing, and overseeing medical professionals—such as physicians, nurses, allied health professionals, and administrative personnel—in order to satisfy the needs of clinics, hospitals, and other healthcare facilities is known as healthcare staffing. Due to aging populations, growing patient loads, and growing healthcare needs, healthcare staffing companies and platforms assist in matching skilled workers with employment openings, frequently offering temporary, permanent, or travel-based assignments.
According to the U.S. Bureau of Labor Statistics, overall employment in healthcare occupations is projected to grow much faster than the average for all occupations from 2023 to 2033.
Market Dynamics:
Driver:
Increasing need for medical experts
The demand for healthcare services has never been higher due to the growing global population and the rising prevalence of chronic illnesses like diabetes, heart disease, and cancer. The aging population necessitates extensive medical care, long-term care facilities, and specialized healthcare professionals like geriatric nurses, physical therapists, and home healthcare providers, especially in developed countries like the U.S., Canada, Japan, and several European nations. Additionally, the demand for a highly qualified workforce in hospitals, clinics, and outpatient care facilities is being further fueled by the increased focus on preventive healthcare, early disease diagnosis, and individualized treatment options.
Restraint:
Expensive contract-based and temporary staffing
There are serious financial ramifications for healthcare facilities associated with the growing use of temporary, locum tenens, and travel healthcare workers. The cost of hiring temporary workers is high for healthcare staffing companies, which puts a strain on long-term care facilities, clinics, and hospitals' budgets. Furthermore, contributing to the overall cost burden are the travel and lodging costs for locum tenens physicians and traveling nurses. Instead of continuously depending on costly temporary staffing solutions, many healthcare institutions would rather invest in full-time workforce development programs, which would limit the growth potential of staffing agencies.
Opportunity:
Increasing need for locum tenens physicians and travel nurses
Staffing firms have a significant opportunity as a result of the growing need for temporary medical personnel, especially locum tenens physicians and travel nurses. Hospitals, assisted living facilities, and outpatient clinics are on the lookout for flexible workforce solutions to deal with emergency situations, staff shortages, and seasonal change. The COVID-19 pandemic has expedited the growth of travel nursing, which is still expanding because of the high compensation packages, career flexibility, and chances for professionals to work in a variety of healthcare settings. Moreover, staffing companies can benefit from this trend by growing their networks of locum tenens physicians and qualified travel nurses and providing them with competitive benefits and appealing placement options.
Threat:
Increasing competition from direct recruiting and internal hiring
Long-term care facilities, hospitals, and healthcare systems are spending more money on internal hiring teams in an effort to lessen their reliance on outside staffing firms. Healthcare companies can reduce hiring expenses, simplify workforce management, and keep employees on board for longer by building internal hiring skills. Additionally, AI-driven applicant tracking systems, digital hiring platforms, and strategic workforce planning tools are being implemented by numerous large hospitals in order to handle staffing needs independently. Due to the intense competition from direct hiring procedures, healthcare staffing agencies may experience a decline in revenue.
Covid-19 Impact:
The COVID-19 pandemic had a huge effect on the healthcare staffing market, making it difficult for staffing agencies to meet the demand for healthcare professionals. Travel nurses, locum tenens physicians, and respiratory therapists are among the temporary and contract-based personnel that are urgently needed to fill staffing gaps brought on by overburdened healthcare systems and staff shortages as a result of the spike in hospitalizations, especially in critical care and emergency departments. Furthermore, a large number of healthcare professionals experienced stress, burnout, and health issues, which led to high turnover rates and early retirements. The pressure on staffing companies to promptly assign skilled workers to hospitals, testing facilities, and immunization locations increased as a result.
The Travel Nurse Staffing segment is expected to be the largest during the forecast period
The Travel Nurse Staffing segment is expected to account for the largest market share during the forecast period. The strong need for nurses, especially in places with acute shortages like rural and underserved areas, has led to a notable increase in this market. Temporary deployment of travel nurses to healthcare facilities is frequently done to fill staffing shortages brought on by staff turnover, medical emergencies, or seasonal variations. Moreover, many nurses are drawn to these professionals because they usually receive competitive compensation packages that include housing benefits, travel expenses, and higher pay rates.
The Home Care Settings segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the Home Care Settings segment is predicted to witness the highest growth rate. The growing need for home healthcare services, especially as the world's population ages and more people choose to receive care in the convenience of their own homes is what is driving this growth. Home healthcare is being used more and more to manage chronic illnesses, provide post-operative care, and care for the elderly, which lowers healthcare costs and hospital readmission rates. Additionally, advances in wearable health technology, telemedicine, and remote patient monitoring have further bolstered this trend by allowing medical professionals to provide high-quality care at home. To meet the increasing needs of patients who need individualized, at-home care, staffing agencies are concentrating more on providing qualified professionals, such as home health aides, nurses, physical therapists, and occupational therapists.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share. A large aging population, a well-established healthcare infrastructure, and a persistent lack of qualified medical personnel all contribute to the region's increased reliance on staffing agencies to fill vital positions in clinics, hospitals, and other healthcare facilities. The COVID-19 pandemic also made staffing shortages worse, which increased demand for contract and temporary healthcare workers, such as doctors, nurses, and allied health professionals. Furthermore, healthcare staffing in remote care settings has become more necessary as a result of North America's leadership in the adoption of healthcare technologies like telemedicine and digital health platforms.
Region with highest CAGR:
Over the forecast period, the Europe region is anticipated to exhibit the highest CAGR. The region's aging population, growing healthcare needs, and rising prevalence of chronic diseases are all contributing to the rapidly growing demand for healthcare professionals. There is a great need for qualified healthcare professionals in nations like Germany, the UK, France, and Italy to fill labor shortages, especially in nursing and elder care. Additionally, the expansion of staffing opportunities throughout Europe is being aided by the growing adoption of home healthcare services and telehealth. Europe is anticipated to sustain a robust growth trajectory in the healthcare staffing market with sustained investments in healthcare infrastructure and a heightened emphasis on healthcare quality.
Key players in the market
Some of the key players in Healthcare Staffing market include Envision Healthcare Corporation, LHC Group Inc., Adecco Group, inVentiv Health, CHG Management, Inc., Aya Healthcare, Inc., Jackson Healthcare, Syneos Health Inc., Allegis Group, Maxim Healthcare Group, Cross Country Healthcare, Inc. and AMN Healthcare Services Inc.
Key Developments:
In January 2025, Adecco Group announced an expanded partnership with Bullhorn, the global leader in software for the staffing and recruitment industry, to extend Bullhorn Recruitment Cloud across new markets and infuse AI across its entire recruitment workflow.
In December 2024, Aya Healthcare and Cross Country Healthcare have announced a definitive agreement for Aya to acquire Cross Country in an all-cash transaction valued at approximately $615 million. The acquisition will merge Aya's healthcare talent software and staffing services with Cross Country's nearly 40 years of clinical service, expanding Aya's coverage to include Cross Country's work in non-clinical settings.
In March 2023, Envision Healthcare has entered into a multiyear agreement with Aetna, a CVS Health company, to provide the health insurance plan’s commercial and Medicare member’s in-network care provided by Envision clinicians in communities throughout the nation.
Service Types Covered:
• Travel Nurse Staffing
• Per Diem Nurse Staffing
• Locum Tenens Staffing
• Allied Healthcare Staffing
• Physician Staffing
• Therapist Staffing
• Medical Technician Staffing
• Administrative Staffing
• Home Health Aide Staffing
• Other Service Types
End Users Covered:
• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Home Care 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 2022, 2023, 2024, 2026, and 2030
- 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
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 End User Analysis
3.7 Emerging Markets
3.8 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 Healthcare Staffing Market, By Service Type
5.1 Introduction
5.2 Travel Nurse Staffing
5.3 Per Diem Nurse Staffing
5.4 Locum Tenens Staffing
5.5 Allied Healthcare Staffing
5.6 Physician Staffing
5.7 Therapist Staffing
5.8 Medical Technician Staffing
5.9 Administrative Staffing
5.10 Home Health Aide Staffing
5.11 Other Service Types
6 Global Healthcare Staffing Market, By End User
6.1 Introduction
6.2 Hospitals
6.3 Clinics
6.4 Ambulatory Surgical Centers
6.5 Home Care Settings
6.6 Other End Users
7 Global Healthcare Staffing Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Envision Healthcare Corporation
9.2 LHC Group Inc.
9.3 Adecco Group
9.4 inVentiv Health
9.5 CHG Management, Inc.
9.6 Aya Healthcare, Inc.
9.7 Jackson Healthcare
9.8 Syneos Health Inc.
9.9 Allegis Group
9.10 Maxim Healthcare Group
9.11 Cross Country Healthcare, Inc.
9.12 AMN Healthcare Services Inc
List of Tables
1 Global Healthcare Staffing Market Outlook, By Region (2022-2030) ($MN)
2 Global Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
3 Global Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
4 Global Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
5 Global Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
6 Global Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
7 Global Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
8 Global Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
9 Global Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
10 Global Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
11 Global Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
12 Global Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
13 Global Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
14 Global Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
15 Global Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
16 Global Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
17 Global Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
18 Global Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($MN)
19 North America Healthcare Staffing Market Outlook, By Country (2022-2030) ($MN)
20 North America Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
21 North America Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
22 North America Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
23 North America Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
24 North America Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
25 North America Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
26 North America Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
27 North America Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
28 North America Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
29 North America Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
30 North America Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
31 North America Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
32 North America Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
33 North America Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
34 North America Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
35 North America Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
36 North America Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($MN)
37 Europe Healthcare Staffing Market Outlook, By Country (2022-2030) ($MN)
38 Europe Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
39 Europe Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
40 Europe Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
41 Europe Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
42 Europe Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
43 Europe Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
44 Europe Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
45 Europe Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
46 Europe Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
47 Europe Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
48 Europe Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
49 Europe Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
50 Europe Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
51 Europe Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
52 Europe Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
53 Europe Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
54 Europe Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($MN)
55 Asia Pacific Healthcare Staffing Market Outlook, By Country (2022-2030) ($MN)
56 Asia Pacific Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
57 Asia Pacific Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
58 Asia Pacific Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
59 Asia Pacific Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
60 Asia Pacific Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
61 Asia Pacific Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
62 Asia Pacific Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
63 Asia Pacific Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
64 Asia Pacific Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
65 Asia Pacific Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
66 Asia Pacific Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
67 Asia Pacific Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
68 Asia Pacific Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
69 Asia Pacific Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
70 Asia Pacific Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
71 Asia Pacific Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
72 Asia Pacific Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($MN)
73 South America Healthcare Staffing Market Outlook, By Country (2022-2030) ($MN)
74 South America Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
75 South America Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
76 South America Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
77 South America Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
78 South America Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
79 South America Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
80 South America Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
81 South America Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
82 South America Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
83 South America Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
84 South America Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
85 South America Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
86 South America Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
87 South America Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
88 South America Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
89 South America Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
90 South America Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($MN)
91 Middle East & Africa Healthcare Staffing Market Outlook, By Country (2022-2030) ($MN)
92 Middle East & Africa Healthcare Staffing Market Outlook, By Service Type (2022-2030) ($MN)
93 Middle East & Africa Healthcare Staffing Market Outlook, By Travel Nurse Staffing (2022-2030) ($MN)
94 Middle East & Africa Healthcare Staffing Market Outlook, By Per Diem Nurse Staffing (2022-2030) ($MN)
95 Middle East & Africa Healthcare Staffing Market Outlook, By Locum Tenens Staffing (2022-2030) ($MN)
96 Middle East & Africa Healthcare Staffing Market Outlook, By Allied Healthcare Staffing (2022-2030) ($MN)
97 Middle East & Africa Healthcare Staffing Market Outlook, By Physician Staffing (2022-2030) ($MN)
98 Middle East & Africa Healthcare Staffing Market Outlook, By Therapist Staffing (2022-2030) ($MN)
99 Middle East & Africa Healthcare Staffing Market Outlook, By Medical Technician Staffing (2022-2030) ($MN)
100 Middle East & Africa Healthcare Staffing Market Outlook, By Administrative Staffing (2022-2030) ($MN)
101 Middle East & Africa Healthcare Staffing Market Outlook, By Home Health Aide Staffing (2022-2030) ($MN)
102 Middle East & Africa Healthcare Staffing Market Outlook, By Other Service Types (2022-2030) ($MN)
103 Middle East & Africa Healthcare Staffing Market Outlook, By End User (2022-2030) ($MN)
104 Middle East & Africa Healthcare Staffing Market Outlook, By Hospitals (2022-2030) ($MN)
105 Middle East & Africa Healthcare Staffing Market Outlook, By Clinics (2022-2030) ($MN)
106 Middle East & Africa Healthcare Staffing Market Outlook, By Ambulatory Surgical Centers (2022-2030) ($MN)
107 Middle East & Africa Healthcare Staffing Market Outlook, By Home Care Settings (2022-2030) ($MN)
108 Middle East & Africa Healthcare Staffing Market Outlook, By Other End Users (2022-2030) ($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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