Hospital Stretchers Market
Hospital Stretchers Market Forecasts to 2030 - Global Analysis By Product Type (Fixed Height, Adjustable Height, Bariatric, Radiographic and Other Product Types), Technology (Non-Motorized and Motorized), Application, and By Geography.
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $3.00 MN |
|
Projected Year Value (2030) |
US $4.88 MN |
|
CAGR (2023 - 2030) |
7.2% |
|
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 |
Asia Pacific |
According to Stratistics MRC, the Global Hospital Stretchers Market is accounted for $3.00 billion in 2023 and is expected to reach $4.88 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Hospital stretchers are medical devices designed to transport and support patients within healthcare facilities, such as hospitals, clinics, or emergency response settings. They provide a safe and comfortable platform for moving patients during medical procedures, transfers between departments, diagnostics, surgeries, or emergencies. They are typically equipped with features like adjustable height, backrest, and side rails to ensure proper patient positioning, ease of access, and safety during transportation.
According to the WHO, every year, approximately 17.9 million people die owing to CVDs. Also, as per the CDC, every year, 805,000 Americans have a heart attack and about 655,000 Americans die from heart disease.
Market Dynamics:
Driver:
Rising healthcare expenditure
Rising healthcare spending globally is leading to higher investments in modernising healthcare infrastructure, including the acquisition of advanced hospital stretchers. As nations prioritise healthcare system enhancement to meet growing patient demands and improve medical facilities, budgets allocated to healthcare equipment procurement, such as stretchers, are expanding. Additionally, the need for efficient patient transfer, critical care support, and specialised features like motorised stretchers or bariatric stretchers drives healthcare facilities to invest in modern, sophisticated stretcher solutions. Thus, there is an escalating demand for advanced hospital stretchers and other medical equipment.
Restraint:
High cost of specialized stretchers
The hospital stretchers market faces a challenge in the form of the high cost associated with advanced stretchers. These specialized stretchers, equipped with advanced features and technology, incur substantial expenses in development, manufacturing, and maintenance. The high cost hampers widespread adoption, particularly in healthcare facilities with budget constraints or in regions with limited financial resources. This cost barrier poses a challenge for healthcare providers seeking to upgrade or expand their stretcher inventory, potentially affecting patient care and overall healthcare system efficiency. Therefore, it is hampering market growth.
Opportunity:
Growing demand for mobile and versatile stretchers
The market for hospital stretchers is experiencing substantial growth due to the increasing demand for mobile and versatile stretchers. The importance of patient flexibility and mobility within medical facilities is being prioritised by healthcare systems. Mobile stretchers provide increased flexibility, enabling effective movement throughout hospitals, among departments, and even in emergency situations. Versatile stretchers can be used for a variety of patient demands and medical procedures through features like height adjustability, backrest positioning, and ergonomic designs. Also, stretchers that are mobile and adaptable help to improve staff comfort and productivity, as well as patient flow and resource management. Additionally, the inclusion of cutting-edge technologies like built-in monitoring systems and networking possibilities has increased demand for these stretchers. Therefore, these are creating a significant market opportunity to meet the increasing demand for mobile and versatile stretchers in modern healthcare environments.
Threat:
Compliance with Regulations and Standards
The hospital stretchers market faces a significant threat from strict regulatory compliance and evolving standards. Adhering to a complex web of regulations, certifications, and safety standards can burden manufacturers with increased development costs and time-consuming approval processes. Meeting these requirements is critical for market entry and product acceptance. Failure to comply can result in delays, financial losses, or even product recalls, hindering market penetration and eroding consumer trust. Staying updated with evolving regulations and efficiently navigating compliance challenges is essential for sustaining a competitive position in the hospital stretchers market.
Covid-19 Impact
The COVID-19 pandemic will both directly and indirectly boost market expansion. The market initially experienced rapid expansion as a result of the rise in COVID-19 cases, which led to an increase in hospital patient volume. However, as COVID claims decreased, patients' relevance in hospitals decreased, which resulted in a lower need for hospital stretchers. However, due to the rising prevalence of diseases and injuries, the market is currently picking up its growth speed. Moreover, stretchers provide a dependable yet cost-effective alternative in several countries where patient bedding is in low supply owing to the severe impacts of the COVID-19 pandemic.
The Pediatric Care segment is expected to be the largest during the forecast period
The Pediatric Care segment is estimated to hold the largest share, this segment within the hospital stretchers market caters to specialised stretchers designed for infants and children. These stretchers prioritise the unique medical and safety needs of young patients, offering appropriate sizing, comfort, and features for paediatric care. The demand for these stretchers is driven by the rising emphasis on paediatric healthcare, which requires safe and efficient transport within hospitals. In order to provide young patients with the best treatment feasible while addressing the unique obstacles posed by their size, weight, and medical problems, manufacturers in this market sector place emphasis on developing flexible and adaptable stretchers. This improves the delivery of paediatric healthcare.
The Adjustable Height segment is expected to have the highest CAGR during the forecast period
The Adjustable Height segment is anticipated to have lucrative growth during the forecast period. This segment encompasses stretchers equipped with height-adjustment features to accommodate various medical procedures and facilitate ease of use for healthcare professionals. These stretchers enable customization to different working levels, enhancing patient accessibility and ergonomics during examinations, transfers, or surgeries. Additionally, the requirement for flexible and adaptable medical equipment that can be easily incorporated into healthcare workflows is the factor that fuels the market for adjustable-height stretchers. Thus, there is propelling segment growth.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to well-established healthcare infrastructure, a growing number of obese people, and high investments in hospital infrastructure. A rise in the geriatric population is a key factor responsible for market growth. Also, the increasing prevalence of chronic disease and favourable healthcare policies in the region are fuelling the growth of the studied market in the region. Thus, the rising ageing and the increasing prevalence of chronic diseases are associated with the increase in hospital admissions, which is increasing the demand for hospital stretchers, thereby driving the growth of the studied market in the region.
Region with highest CAGR:
Asia-Pacific region is expected to witness profitable growth over the projection period. The major market players in the Asia-Pacific area are China and India. An increase in hospitals and a rise in hospital admissions for emergency care are driving the market's expansion in this area. Some of the main factors enhancing the growth of this market are the swift development of the medical tourism sector in nations (such as India, Thailand, Singapore, and others) and the expanding geriatric population, which is more susceptible to ailments. Furthermore, an increase in the number of road traffic accidents, resulting in an increase in the patient population, is a major driver of market expansion.
Key players in the market
Some of the key players in the Hospital Stretchers Market include Hill-Rom Holdings, Mac Medical, Stryker Corporation, Narang Medical Limited, TransMotion Medical Inc., Invacare Corporation, Stiegelmeyer GmbH & Co. KG, Medline Industries Inc., Paramount Bed Holdings Co., Ltd., Joerns Healthcare LLC, Narang Medical Limited, Ferno-Washington, Inc., Gendron, Inc., GF Health Products, Inc., Besco Medical Co., Ltd., Favero Health Projects S.p.A., Fu Shun Hsing Technology Co. Ltd., Spencer Italia S.r.l., Givas S.r.l. and Advanced Instrumentations.
Key Developments:
In July 2022, A patient is safely and securely wrapped in an inflatable stretcher created by Shih Chien University student Yu-Hsin Wu to prevent patient falls while they are transported to the ambulance. Unlike the traditional stretchers now used in healthcare facilities, this inflatable stretcher is small, lightweight, and simple to install and operate.
In May 2022, as their best emergency and transportation stretcher, the ""Sprint 200"" from Linet was unveiled. It belongs to a new generation of stretchers that uses cutting-edge techniques to elevate patient care and transportation.
Product Types Covered:
• Fixed Height
• Adjustable Height
• Bariatric
• Radiographic
• Other Product Types
Technologies Covered:
• Non-Motorized
• Motorized
Applications Covered:
• Daycare/Inpatient
• Emergency/Trauma
• Surgery
• Ambulatory/Transport
• Pediatric Care
• Other Applications
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 2021, 2022, 2023, 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 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 Emerging Markets
3.10 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 Hospital Stretchers Market, By Product Type
5.1 Introduction
5.2 Fixed Height
5.3 Adjustable Height
5.4 Bariatric
5.5 Radiographic
5.6 Other Product Types
6 Global Hospital Stretchers Market, By Technology
6.1 Introduction
6.2 Non-Motorized
6.3 Motorized
7 Global Hospital Stretchers Market, By Application
7.1 Introduction
7.2 Daycare/Inpatient
7.3 Emergency/Trauma
7.4 Surgery
7.5 Ambulatory/Transport
7.6 Pediatric Care
7.7 Other Applications
8 Global Hospital Stretchers Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Hill-Rom Holdings
10.2 Mac Medical
10.3 Stryker Corporation
10.4 Narang Medical Limited
10.5 TransMotion Medical Inc.
10.6 Invacare Corporation
10.7 Stiegelmeyer GmbH & Co. KG
10.8 Medline Industries Inc.
10.9 Paramount Bed Holdings Co., Ltd.
10.10 Joerns Healthcare LLC
10.11 Narang Medical Limited
10.12 Ferno-Washington, Inc.
10.13 Gendron, Inc.
10.14 GF Health Products, Inc.
10.15 Besco Medical Co., Ltd.
10.16 Favero Health Projects S.p.A.
10.17 Fu Shun Hsing Technology Co. Ltd.
10.18 Spencer Italia S.r.l.
10.19 Givas S.r.l.
10.20 Advanced Instrumentations
List of Tables
1 Global Hospital Stretchers Market Outlook, By Region (2021-2030) ($MN)
2 Global Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
4 Global Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
5 Global Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
6 Global Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
7 Global Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
9 Global Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
10 Global Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
11 Global Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
12 Global Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
13 Global Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
14 Global Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
15 Global Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
16 Global Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
17 Global Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($MN)
18 North America Hospital Stretchers Market Outlook, By Country (2021-2030) ($MN)
19 North America Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
20 North America Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
21 North America Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
22 North America Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
23 North America Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
24 North America Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
25 North America Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
26 North America Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
27 North America Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
28 North America Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
29 North America Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
30 North America Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
31 North America Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
32 North America Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
33 North America Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
34 North America Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($MN)
35 Europe Hospital Stretchers Market Outlook, By Country (2021-2030) ($MN)
36 Europe Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
37 Europe Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
38 Europe Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
39 Europe Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
40 Europe Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
41 Europe Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
42 Europe Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
43 Europe Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
44 Europe Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
45 Europe Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
46 Europe Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
47 Europe Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
48 Europe Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
49 Europe Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
50 Europe Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
51 Europe Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($MN)
52 Asia Pacific Hospital Stretchers Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
54 Asia Pacific Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
55 Asia Pacific Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
56 Asia Pacific Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
57 Asia Pacific Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
58 Asia Pacific Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
59 Asia Pacific Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
60 Asia Pacific Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
61 Asia Pacific Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
62 Asia Pacific Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
63 Asia Pacific Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
64 Asia Pacific Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
65 Asia Pacific Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
66 Asia Pacific Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
67 Asia Pacific Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
68 Asia Pacific Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($MN)
69 South America Hospital Stretchers Market Outlook, By Country (2021-2030) ($MN)
70 South America Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
71 South America Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
72 South America Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
73 South America Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
74 South America Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
75 South America Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
76 South America Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
77 South America Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
78 South America Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
79 South America Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
80 South America Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
81 South America Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
82 South America Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
83 South America Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
84 South America Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
85 South America Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($MN)
86 Middle East & Africa Hospital Stretchers Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Hospital Stretchers Market Outlook, By Product Type (2021-2030) ($MN)
88 Middle East & Africa Hospital Stretchers Market Outlook, By Fixed Height (2021-2030) ($MN)
89 Middle East & Africa Hospital Stretchers Market Outlook, By Adjustable Height (2021-2030) ($MN)
90 Middle East & Africa Hospital Stretchers Market Outlook, By Bariatric (2021-2030) ($MN)
91 Middle East & Africa Hospital Stretchers Market Outlook, By Radiographic (2021-2030) ($MN)
92 Middle East & Africa Hospital Stretchers Market Outlook, By Other Product Types (2021-2030) ($MN)
93 Middle East & Africa Hospital Stretchers Market Outlook, By Technology (2021-2030) ($MN)
94 Middle East & Africa Hospital Stretchers Market Outlook, By Non-Motorized (2021-2030) ($MN)
95 Middle East & Africa Hospital Stretchers Market Outlook, By Motorized (2021-2030) ($MN)
96 Middle East & Africa Hospital Stretchers Market Outlook, By Application (2021-2030) ($MN)
97 Middle East & Africa Hospital Stretchers Market Outlook, By Daycare/Inpatient (2021-2030) ($MN)
98 Middle East & Africa Hospital Stretchers Market Outlook, By Emergency/Trauma (2021-2030) ($MN)
99 Middle East & Africa Hospital Stretchers Market Outlook, By Surgery (2021-2030) ($MN)
100 Middle East & Africa Hospital Stretchers Market Outlook, By Ambulatory/Transport (2021-2030) ($MN)
101 Middle East & Africa Hospital Stretchers Market Outlook, By Pediatric Care (2021-2030) ($MN)
102 Middle East & Africa Hospital Stretchers Market Outlook, By Other Applications (2021-2030) ($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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