Human Insulin Market
Human Insulin Market Forecasts to 2028 - Global Analysis By Product Type (Traditional Human Insulin, Insulin Analogs and Biosimilars and Other Product Types), Diabetes Type (Type I Diabetes, Type II Diabetes and Other Diabetes Types), Distribution Channel and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $18.7 BN |
|
Projected Year Value (2028) |
US $24.8 BN |
|
CAGR (2022 - 2028) |
4.7% |
|
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 |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Human Insulin Market is accounted for $18.7 billion in 2022 and is expected to reach $24.8 billion by 2028 growing at a CAGR of 4.7% during the forecast period. Human insulin (HI) is a short-acting form of insulin used to treat hyperglycemia caused by type-1 and type-2 diabetes. It is produced by recombinant DNA technology and identical to endogenously made insulin. It is used to take the place of insulin generally produced by the body and aids in insulating sugar from the blood into other body tissues, wherein it is utilized for energy. Insulin is a hormone made by the beta cells of the pancreas. It plays a vital role in the regulation of glucose levels. It controls the body’s systems and regulates the uptake of amino acids by body cells.
According to the Centers for Disease Control and Prevention, around 1.6 million adults aged 20 years or older have Type 1 diabetes and use insulin. According to the Asian Diabetes Prevention Initiative, people in Asia are at a high risk of developing diabetes due to lifestyle and diet trends.
Market Dynamics:
Driver:
Growing Diabetes Prevalence
The proportion of the population suffering from obesity and diabetes has increased significantly due to change in lifestyle and dietary habits. There has been a remarkable development in insulin production technology which is escalating its adoption rate. Newer technologies like recombinant DNA technology have enabled mass production of insulin to meet the huge demand. Consequently, this has made insulin reasonable and available to reach a wider population.
Restraint:
High cost
The patients suffering from diabetes need to take insulin supplements frequently, forever for their lifetime this puts a financial burden on the individuals. The need for highly skilled manpower and complicated manufacturing infrastructure increases the manufacturing cost. The high cost of insulin analogs is the major factor hindering the human insulin market growth. Furthermore, strict regulatory requirements for insulin approval are also a potential restraining factor.
Opportunity:
Rising Investments in R&D Activities
The rising investments in research and development activities by several organisations have led to an advanced and easier way of injecting insulin, which is boosting the market growth. In addition, the introduction of the safety pen devices and pen needles for effective delivery of insulin, growing awareness of diabetes is expected to bolster the demand. The significant improvements in the healthcare infrastructure and extensive research and development (R&D) activities in the field of biotechnology conducted by leading industry players are strengthening the growth of the market.
Threat:
Strict regulations
There are severe regulations in place for drug approvals. Medical device regulations must be improved so that users can achieve high-quality, effective, and safe technology. The growing number and modernization of medical devices have led to new regulatory challenges. The demand-supply ratio is also getting adversely affected due to the time taken for approval of drugs. These factors are bound to restrain the human insulin market.
Covid-19 Impact
Covid-19 had a reflective impact on the human insulin market. Due to restrictions in travel and movement of goods, there were wide disruptions in the supply chain. Moreover, the temporary shutdown of manufacturing units to curb the virus spread decreased the production rate. Thus, there was a huge shortage of human insulin worldwide for a short period. Lockdowns arising from the epidemic forced people to put off getting their health checked, reducing the amount of tests performed and reagent sales. However, as governments gradually loosen travel restrictions, there is a rebound in testing numbers.
The insulin analogs and biosimilars segment is expected to be the largest during the forecast period
The insulin analogs and biosimilars segment is estimated to have a lucrative growth, due to the higher efficiency of insulin and minimal adverse effects, such as hypoglycemia attacks and lower weight gain, as compared to conventional therapy. It has better observance to therapy and glycemic control. In addition, it does not pose as much a risk of hypoglycemia compared to traditional products, owing to the presence of more effective insulin analogs, the sales and prescription rate of these products are expected to refuse over the forthcoming years.
The retail & online pharmacies segment is expected to have the highest CAGR during the forecast period
The retail & online pharmacies segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the rising burden of disease, the feasibility of home care patients, and various discounts offered by retail pharmacies. The comfort, flexibility, and convenience provided by online purchase of medications are major factors driving the segment. In addition, the discounts offered by online pharmacies attract patients to purchase medications online, the rising hospitalization of diabetic patients are also expected to fuel market growth.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to due to factors such as rising geriatric & target populations, increasing number of collaborations for the development of biosimilars, geographic expansion of key players, and active participation of government and non-profit organizations in the market space. Additionally, health awareness campaigns and scientific conferences for the management of this disease may fuel market growth in the region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the factors like growing old age population, rising prevalence of diabetes, increasing healthcare awareness, improvement in reimbursement policies, and surge in clinical trials. The robust presence of the major insulin manufacturers, strong competition among the companies and increasing prevalence of type-1 diabetes are some aspects enhancing the region growth.
Key players in the market
Some of the key players profiled in the Human Insulin Market include Eli Lilly and Company, Novo Nordisk A/S, Tonghua Dongbao Pharmaceutical Co. Ltd., Julphar, Biocon Ltd, Sanofi, United Laboratories International Holdings Limited, Pfizer, Inc., Boehringer Ingelheim International GmbH, Wockhardt, Bristol-Myers Squibb Company., Oramed Pharmaceuticals, Inc., GlaxoSmithKline Plc., Gan & Lee Pharmaceuticals Co Ltd., Ypsomed AG and Shanghai Fosun Pharmaceutical Co., Ltd.
Key Developments:
In November 2021, Novo Nordisk A/s acquired Dicerna Pharmaceuticals, including its Dicerna’s ribonucleic acid interference (RNAi) platform, in addition to Novo Nordisk’s research technology platforms used across all therapeutic areas.
In February 2021, Biocon Biologics partnered with the International Diabetes Federation (IDF) as the first biosimilar insulin company to promote and support IDF’s important mission initiative. The collaboration marks the start of the centennial commemoration of the invention of insulin and advances Biocon Biologics’ aim of providing inexpensive insulin to individuals with diabetes around the world.
Product Types Covered:
• Traditional Human Insulin
• Insulin Analogs and Biosimilars
• Others Product Types
Diabetes Types Covered:
• Type I Diabetes
• Type II Diabetes
• Other Diabetes Types
Distribution Channels Covered:
• Retail & Online Pharmacies
• Hospitals Pharmacies
• Other Distribution Channels
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 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 Human Insulin Market, By Product Type
5.1 Introduction
5.2 Traditional Human Insulin
5.2.1 Short-Acting Biologics
5.2.2 Intermediate-Acting Biologics
5.2.3 Premixed Biologics
5.3 Insulin Analogs and Biosimilars
5.3.1 Rapid-Acting Biosimilars
5.3.2 Long-Acting Biosimilars
5.3.3 Premix Biosimilars
5.4 Other Product Types
6 Global Human Insulin Market, By Diabetes Type
6.1 Introduction
6.2 Type I Diabetes
6.3 Type II Diabetes
6.4 Other Diabetes Types
7 Global Human Insulin Market, By Distribution Channel
7.1 Introduction
7.2 Retail & Online Pharmacies
7.3 Hospitals Pharmacies
7.4 Other Distribution Channels
8 Global Human Insulin 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 Eli Lilly and Company
10.2 Novo Nordisk A/S
10.3 Tonghua Dongbao Pharmaceutical Co. Ltd.
10.4 Julphar
10.5 Biocon Ltd
10.6 Sanofi
10.7 United Laboratories International Holdings Limited
10.8 Pfizer, Inc.
10.9 Boehringer Ingelheim International GmbH
10.10 Wockhardt
10.11 Bristol-Myers Squibb Company.
10.12 Oramed Pharmaceuticals, Inc.
10.13 GlaxoSmithKline Plc.
10.14 Gan & Lee Pharmaceuticals Co Ltd.
10.15 Ypsomed AG
10.16 Shanghai Fosun Pharmaceutical Co., Ltd
List of Tables
1 Global Human Insulin Market Outlook, By Region (2020-2028) ($MN)
2 Global Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
4 Global Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
5 Global Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
6 Global Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
7 Global Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
8 Global Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
9 Global Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
10 Global Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
11 Global Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
12 Global Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
13 Global Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
14 Global Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
15 Global Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
16 Global Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
17 Global Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
18 Global Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
19 Global Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
20 North America Human Insulin Market Outlook, By Country (2020-2028) ($MN)
21 North America Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
22 North America Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
23 North America Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
24 North America Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
25 North America Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
26 North America Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
27 North America Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
28 North America Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
29 North America Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
30 North America Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
31 North America Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
32 North America Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
33 North America Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
34 North America Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
35 North America Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
36 North America Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
37 North America Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
38 North America Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
39 Europe Human Insulin Market Outlook, By Country (2020-2028) ($MN)
40 Europe Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
41 Europe Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
42 Europe Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
43 Europe Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
44 Europe Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
45 Europe Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
46 Europe Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
47 Europe Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
48 Europe Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
49 Europe Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
50 Europe Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
51 Europe Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
52 Europe Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
53 Europe Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
54 Europe Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
55 Europe Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
56 Europe Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
57 Europe Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
58 Asia Pacific Human Insulin Market Outlook, By Country (2020-2028) ($MN)
59 Asia Pacific Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
60 Asia Pacific Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
61 Asia Pacific Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
62 Asia Pacific Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
63 Asia Pacific Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
64 Asia Pacific Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
65 Asia Pacific Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
66 Asia Pacific Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
67 Asia Pacific Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
68 Asia Pacific Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
69 Asia Pacific Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
70 Asia Pacific Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
71 Asia Pacific Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
72 Asia Pacific Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
73 Asia Pacific Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
74 Asia Pacific Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
75 Asia Pacific Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
76 Asia Pacific Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
77 South America Human Insulin Market Outlook, By Country (2020-2028) ($MN)
78 South America Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
79 South America Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
80 South America Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
81 South America Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
82 South America Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
83 South America Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
84 South America Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
85 South America Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
86 South America Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
87 South America Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
88 South America Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
89 South America Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
90 South America Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
91 South America Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
92 South America Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
93 South America Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
94 South America Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
95 South America Human Insulin Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
96 Middle East & Africa Human Insulin Market Outlook, By Country (2020-2028) ($MN)
97 Middle East & Africa Human Insulin Market Outlook, By Product Type (2020-2028) ($MN)
98 Middle East & Africa Human Insulin Market Outlook, By Traditional Human Insulin (2020-2028) ($MN)
99 Middle East & Africa Human Insulin Market Outlook, By Short-Acting Biologics (2020-2028) ($MN)
100 Middle East & Africa Human Insulin Market Outlook, By Intermediate-Acting Biologics (2020-2028) ($MN)
101 Middle East & Africa Human Insulin Market Outlook, By Premixed Biologics (2020-2028) ($MN)
102 Middle East & Africa Human Insulin Market Outlook, By Insulin Analogs and Biosimilars (2020-2028) ($MN)
103 Middle East & Africa Human Insulin Market Outlook, By Rapid-Acting Biosimilars (2020-2028) ($MN)
104 Middle East & Africa Human Insulin Market Outlook, By Long-Acting Biosimilars (2020-2028) ($MN)
105 Middle East & Africa Human Insulin Market Outlook, By Premix Biosimilars (2020-2028) ($MN)
106 Middle East & Africa Human Insulin Market Outlook, By Other Product Types (2020-2028) ($MN)
107 Middle East & Africa Human Insulin Market Outlook, By Diabetes Type (2020-2028) ($MN)
108 Middle East & Africa Human Insulin Market Outlook, By Type I Diabetes (2020-2028) ($MN)
109 Middle East & Africa Human Insulin Market Outlook, By Type II Diabetes (2020-2028) ($MN)
110 Middle East & Africa Human Insulin Market Outlook, By Other Diabetes Types (2020-2028) ($MN)
111 Middle East & Africa Human Insulin Market Outlook, By Distribution Channel (2020-2028) ($MN)
112 Middle East & Africa Human Insulin Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
113 Middle East & Africa Human Insulin Market Outlook, By Hospitals Pharmacies (2020-2028) ($MN)
114 Middle East & Africa Human Insulin Market Outlook, By Other Distribution Channels (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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