Lung Cancer Screening Market
PUBLISHED: 2023 ID: SMRC24442
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Lung Cancer Screening Market

Lung Cancer Screening Market Forecasts to 2030 - Global Analysis By Cancer Type (Non-small Cell Lung Cancer (NSCLC), Small Cell Lung Cancer and Other Cancer Types), By Diagnosis Type (Low-dose computed tomography (LDCT), X-ray and Other Diagnosis Types), By Age Group (Below 50 and 50 and Older), End User and By Geography

4.1 (71 reviews)
4.1 (71 reviews)
Published: 2023 ID: SMRC24442

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $3.4 BN

Projected Year Value (2030)

US $6.8 BN

CAGR (2023 - 2030)

10.1%

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 Lung Cancer Screening Market is accounted for $3.4 billion in 2023 and is expected to reach $6.8 billion by 2030 growing at a CAGR of 10.1% during the forecast period. Lung cancer screening involves diagnostic tests to detect lung cancer in its early stages, typically through low-dose computed tomography (LDCT) scans. It is used for individuals at high risk, such as heavy smokers. Early detection allows for timely intervention, improving treatment outcomes.

According to the American Society of Clinical Oncology (2020), lung cancer is the second most common cancer in women and men is estimated to affect over 235,000 adults in the U.S in the year 2020.

Market Dynamics: 

Driver: 

Rising patient demand for preventive healthcare

With a growing awareness of the benefits of early detection, patients are actively seeking preventive measures, including routine screenings, to detect potential health risks such as lung cancer at an early and more treatable stage. The paradigm shift towards proactive health management, fueled by education and awareness campaigns, aligns with the rising emphasis on preventive care. As individuals prioritize their well-being and opt for preventive healthcare measures, the demand for accessible and comprehensive lung cancer screening services rises, driving the expansion and integration of screening programs into routine healthcare practices.

Restraint:

Risk of false positives

While screening programs aim to detect potential cases early, the inherent risk of false positives can lead to unnecessary anxiety, follow-up procedures, and invasive interventions. False positives can result from benign conditions or non-cancerous anomalies being detected as potentially cancerous, complicating patient experiences and potentially causing psychological distress. Beyond the emotional toll on individuals, false positives can lead to additional healthcare costs and resource utilization for follow-up tests and unnecessary treatments.

Opportunity:

Government initiatives and funding

Supportive policies and financial backing from governmental bodies enhance the accessibility and affordability of screening programs, encouraging widespread adoption. As governments recognize the societal and economic benefits of early cancer detection, they are increasingly investing in initiatives that promote lung cancer screening awareness and implementation. Funding can facilitate research, technological advancements, and the establishment of screening infrastructure. Collaborative efforts between public health agencies, healthcare providers, and policymakers contribute to the development of effective screening programs, making preventive measures accessible to a broader population.

Threat:

Radiation exposure concerns

While screening, particularly through computed tomography (CT) scans, provides valuable diagnostic information, it raises apprehensions about potential radiation-induced health risks. The cumulative exposure from frequent screenings poses a challenge, as ionizing radiation is associated with an increased risk of cancer development. Balancing the benefits of early cancer detection with the potential harm from radiation exposure is a critical consideration. Efforts to minimize radiation doses, such as the use of low-dose CT scans, are underway to address these concerns. However, the perceived risk may still deter individuals from participating in screening programs, hindering the broader adoption of lung cancer screenings.

Covid-19 Impact: 

The COVID-19 pandemic has impacted the market profoundly. Disruptions in healthcare services, reallocation of resources, and concerns about virus transmission have led to a decline in routine screenings. Delays in screening and diagnosis may result in the identification of lung cancer at later stages, affecting treatment outcomes. Additionally, the focus on COVID-19 response has redirected attention and resources away from preventive healthcare initiatives. As healthcare systems adapt to pandemic challenges, there is a need for strategies to resume and prioritize lung cancer screening efforts, ensuring the continued provision of timely and effective preventive healthcare services.

The x-ray segment is expected to be the largest during the forecast period

Over the projection period, it is predicted that the x-ray segment will experience a larger market size, providing a cost-effective and widely accessible diagnostic tool. While not as sensitive as computed tomography (CT) scans, X-rays play a crucial role in initial screenings, aiding in the detection of lung abnormalities. Portable chest X-rays are commonly used to identify early signs of lung cancer, particularly in high-risk populations. The ease of X-ray implementation contributes to its widespread adoption, facilitating routine screenings and early interventions, thus enhancing the overall effectiveness of lung cancer screening programs.

The hospitals segment is expected to have the highest CAGR during the forecast period

During the forecast period, it is expected that the hospitals segment will experience lucrative growth. Equipped with advanced imaging technologies such as CT scans and X-rays, hospitals facilitate comprehensive and accurate lung cancer screenings. Their multidisciplinary teams, including pulmonologists and radiologists, ensure a holistic approach to diagnosis and subsequent care. Hospitals play a crucial role in managing screenings, from risk assessment to result interpretation, and serve as key points for coordinating follow-up care and interventions. As centralized healthcare institutions, hospitals contribute significantly to the accessibility and effectiveness of lung cancer screening initiatives.

Region with largest share:

The North America region is expected to witness largest market share, driven by a robust healthcare infrastructure, increasing awareness of preventive healthcare, and a high prevalence of lung cancer. Well-established screening programs and advanced medical technologies contribute to early detection efforts. Supportive government policies and the proactive approach of healthcare organizations enhance accessibility to screening services. The region's emphasis on early diagnosis, coupled with a rising patient demand for preventive measures, positions North America at the forefront of lung cancer screening initiatives, fostering innovation and shaping the trajectory of the global lung cancer screening market.

Region with highest CAGR:
   
During the forecast period, a rapid growth rate is anticipated in the Asia-Pacific region. The region's expanding population, coupled with a growing prevalence of lung cancer, underscores the demand for screening services. Government initiatives, coupled with the adoption of advanced medical technologies, contribute to the market's growth. As healthcare systems in countries like China and India prioritize early detection, the lung cancer screening market in Asia Pacific is witnessing significant development, reflecting a proactive approach to address the increasing burden of lung cancer in the region.

Key players in the market

Some of the key players in Lung Cancer Screening market include FUJIFILM Holdings Corporation, GE Healthcare, Siemens Healthineers AG, Canon Medical Systems Corporation, Koninklijke Philips N.V., Medtronic, Nuance Communications, Inc., PenRad Technologies, Inc. and Volpara Solutions Limited.

Key Developments:

In August 2022, PenRad, a company that develops software to increase efficiency for breast imaging and lung screening, was acquired by Intelerad, a major international provider of enterprise medical imaging solutions. The purchase broadens Intelerad's product lines for lung analytics and mammography, enabling radiologists, technicians, and other healthcare workers to work more efficiently and fulfill increased demand for cancer screening while enhancing patient care.

In April 2023, Centers for Medicare & Medicaid Services (CMS) released a national coverage determination (NCD) that broadens coverage for lung cancer screening with Low Dose Computed Tomography (LDCT), to enhance health outcomes for those who have lung cancer,. In the U.S., lung cancer is one of the most prevalent malignancies and main reason for cancer-related mortality in both men and women. 

Cancer Types Covered:
• Non-small Cell Lung Cancer (NSCLC)
• Small Cell Lung Cancer
• Other Cancer Types
 
Diagnosis Types Covered:
• Low-dose computed tomography (LDCT)
• X-ray
• Other Diagnosis Types

Age Groups Covered:
• Below 50
• 50 and older
 
End Users Covered:
• Hospitals
• Diagnostic Centers
• 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 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 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 Lung Cancer Screening Market, By Cancer Type         
 5.1 Introduction        
 5.2 Non-small Cell Lung Cancer (NSCLC)        
 5.3 Small Cell Lung Cancer        
 5.4 Other Cancer Types        
          
6 Global Lung Cancer Screening Market, By Diagnosis Type         
 6.1 Introduction        
 6.2 Low-dose computed tomography (LDCT)        
 6.3 X-ray        
 6.4 Other Diagnosis Types        
          
7 Global Lung Cancer Screening Market, By Age Group         
 7.1 Introduction        
 7.2 Below 50        
 7.3 50 and older        
          
8 Global Lung Cancer Screening Market, By End User         
 8.1 Introduction        
 8.2 Hospitals        
 8.3 Diagnostic Centers        
 8.4 Other End Users        
          
9 Global Lung Cancer Screening Market, By Geography         
 9.1 Introduction        
 9.2 North America        
  9.2.1 US       
  9.2.2 Canada       
  9.2.3 Mexico       
 9.3 Europe        
  9.3.1 Germany       
  9.3.2 UK       
  9.3.3 Italy       
  9.3.4 France       
  9.3.5 Spain       
  9.3.6 Rest of Europe       
 9.4 Asia Pacific        
  9.4.1 Japan       
  9.4.2 China       
  9.4.3 India       
  9.4.4 Australia       
  9.4.5 New Zealand       
  9.4.6 South Korea       
  9.4.7 Rest of Asia Pacific       
 9.5 South America        
  9.5.1 Argentina       
  9.5.2 Brazil       
  9.5.3 Chile       
  9.5.4 Rest of South America       
 9.6 Middle East & Africa        
  9.6.1 Saudi Arabia       
  9.6.2 UAE       
  9.6.3 Qatar       
  9.6.4 South Africa       
  9.6.5 Rest of Middle East & Africa       
          
10 Key Developments         
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures        
 10.2 Acquisitions & Mergers        
 10.3 New Product Launch        
 10.4 Expansions        
 10.5 Other Key Strategies        
          
11 Company Profiling         
 11.1 FUJIFILM Holdings Corporation        
 11.2 GE Healthcare        
 11.3 Siemens Healthineers AG        
 11.4 Canon Medical Systems Corporation        
 11.5 Koninklijke Philips N.V.        
 11.6 Medtronic        
 11.7 Nuance Communications, Inc.        
 11.8 PenRad Technologies, Inc.        
 11.9 Volpara Solutions Limited.        
          
List of Tables          
1 Global Lung Cancer Screening Market Outlook, By Region (2021-2030) ($MN)         
2 Global Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
3 Global Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
4 Global Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
5 Global Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
6 Global Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
7 Global Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
8 Global Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
9 Global Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
10 Global Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
11 Global Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
12 Global Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
13 Global Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
14 Global Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
15 Global Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
16 Global Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)         
17 North America Lung Cancer Screening Market Outlook, By Country (2021-2030) ($MN)         
18 North America Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
19 North America Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
20 North America Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
21 North America Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
22 North America Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
23 North America Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
24 North America Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
25 North America Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
26 North America Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
27 North America Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
28 North America Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
29 North America Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
30 North America Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
31 North America Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
32 North America Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)         
33 Europe Lung Cancer Screening Market Outlook, By Country (2021-2030) ($MN)         
34 Europe Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
35 Europe Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
36 Europe Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
37 Europe Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
38 Europe Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
39 Europe Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
40 Europe Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
41 Europe Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
42 Europe Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
43 Europe Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
44 Europe Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
45 Europe Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
46 Europe Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
47 Europe Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
48 Europe Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)         
49 Asia Pacific Lung Cancer Screening Market Outlook, By Country (2021-2030) ($MN)         
50 Asia Pacific Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
51 Asia Pacific Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
52 Asia Pacific Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
53 Asia Pacific Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
54 Asia Pacific Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
55 Asia Pacific Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
56 Asia Pacific Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
57 Asia Pacific Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
58 Asia Pacific Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
59 Asia Pacific Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
60 Asia Pacific Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
61 Asia Pacific Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
62 Asia Pacific Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
63 Asia Pacific Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
64 Asia Pacific Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)         
65 South America Lung Cancer Screening Market Outlook, By Country (2021-2030) ($MN)         
66 South America Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
67 South America Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
68 South America Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
69 South America Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
70 South America Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
71 South America Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
72 South America Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
73 South America Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
74 South America Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
75 South America Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
76 South America Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
77 South America Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
78 South America Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
79 South America Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
80 South America Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)         
81 Middle East & Africa Lung Cancer Screening Market Outlook, By Country (2021-2030) ($MN)         
82 Middle East & Africa Lung Cancer Screening Market Outlook, By Cancer Type (2021-2030) ($MN)         
83 Middle East & Africa Lung Cancer Screening Market Outlook, By Non-small Cell Lung Cancer (NSCLC) (2021-2030) ($MN)         
84 Middle East & Africa Lung Cancer Screening Market Outlook, By Small Cell Lung Cancer (2021-2030) ($MN)         
85 Middle East & Africa Lung Cancer Screening Market Outlook, By Other Cancer Types (2021-2030) ($MN)         
86 Middle East & Africa Lung Cancer Screening Market Outlook, By Diagnosis Type (2021-2030) ($MN)         
87 Middle East & Africa Lung Cancer Screening Market Outlook, By Low-dose computed tomography (LDCT) (2021-2030) ($MN)         
88 Middle East & Africa Lung Cancer Screening Market Outlook, By X-ray (2021-2030) ($MN)         
89 Middle East & Africa Lung Cancer Screening Market Outlook, By Other Diagnosis Types (2021-2030) ($MN)         
90 Middle East & Africa Lung Cancer Screening Market Outlook, By Age Group (2021-2030) ($MN)         
91 Middle East & Africa Lung Cancer Screening Market Outlook, By Below 50 (2021-2030) ($MN)         
92 Middle East & Africa Lung Cancer Screening Market Outlook, By 50 and older (2021-2030) ($MN)         
93 Middle East & Africa Lung Cancer Screening Market Outlook, By End User (2021-2030) ($MN)         
94 Middle East & Africa Lung Cancer Screening Market Outlook, By Hospitals (2021-2030) ($MN)         
95 Middle East & Africa Lung Cancer Screening Market Outlook, By Diagnostic Centers (2021-2030) ($MN)         
96 Middle East & Africa Lung Cancer Screening Market Outlook, By Other End Users (2021-2030) ($MN)        

List of Figures

RESEARCH METHODOLOGY


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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