Melanoma Diagnostics And Therapeutics Market
Melanoma Diagnostics and Therapeutics Market Forecasts to 2028 - Global Analysis By Product (Diagnostics and Therapeutics), By Application (Diagnostic Center, Medical Institution, Hospitals, and Other Applications) and By Geography
|
Years Covered |
2020-2028 |
|
CAGR (2022 - 2028) |
17.1% |
|
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 |
South America |
According to Stratistics MRC, the Global Melanoma Diagnostics and Therapeutics Market is growing at a CAGR of 17.1% during the forecast period. Melanoma is a form of skin cancer that develops from melanocytes, cells that produce pigment. Melanomas can grow in the mouth, intestines, and eyes but are most frequently found on the skin. An abnormal proliferation of skin cells is referred to as skin cancer. It grows in areas that are exposed to the sun. The most prevalent type of cancer is skin cancer.
According to the American Cancer Society, about 99,780 new melanomas will be diagnosed in the United States in 2022, and around 7,650 people are expected to die of melanoma in the same year. These statistics highlight the need for drugs that help in the management of melanoma over the coming years.
Market Dynamics:
Driver:
Rising prevalence of melanoma cases and supporting government programmes
Due to the rising prevalence of melanoma cases, rising government programs for early diagnosis and skin cancer treatment, and rising technological innovations, the market for melanoma diagnostics and therapies is anticipated to rise rapidly. The introduction of cutting-edge therapies and diagnostics for the treatment of melanoma is also anticipated to promote market expansion. For instance, Bristol Myers Squibb obtained FDA approval in March 2022 for Opdualag (nivolumab and relatlimab-rmbw), a brand-new, first-in-class fixed-dose combination of nivolumab and relatlimab that is administered as a single intravenous infusion for the treatment of adult and pediatric patients 12 years of age and older with unresectable or metastatic melanoma.
Restraint:
Rise in cost of treating melanoma
Depending on the patient's diagnosis and treatment options, the cost of treating melanoma has changed over time. The number of people seeking treatment for malignant melanoma is rising as a result of extended flight times, an increase in UV radiation exposure from tanning beds, and a decrease in ozone levels. For instance, the cancer treatment cisplatin has been produced by numerous pharmaceutical companies around the world since it became non-patentable.
Opportunity:
Affordable medicines due to growing demand
The high incidence of melanoma, various types of skin cancer, and skin allergies in emerging nations offers a market opportunity for pharmaceutical companies to expand their presence there. Major businesses have been prompted to produce more affordable and effective medicines as a result of the growing demand for cost-effective therapies in developing regions, including the Middle East, Africa, and the Asia Pacific. In the upcoming years, these elements are anticipated to support the market's overall expansion.
Threat:
High therapy cost
Over the forecast period, market expansion is anticipated to be hampered by high therapy costs and strict regulatory requirements. Skin cancer diagnostics and therapeutics market growth is being constrained by causes like the high cost of skin cancer treatment, and a lack of knowledge about cutting-edge treatments for cancer-associated diseases.
Covid-19 Impact:
Due to the COVID-19 pandemic, patients with skin cancer have experienced delays in diagnosis and treatment, including delays in patient presentation, diagnostic referral delays brought on by diagnostic capacity constraints, and treatment delays caused by an increased risk of COVID-19 transmission or health policy restrictions on treatment capacity. Studies from the United Kingdom Northern Cancer Network and United States dermatology practices reported a significant decline in skin cancer diagnoses during the lockdown months in 2020, according to an article from July 2021 titled "The impact of the COVID-19 pandemic on a diagnostic delay of skin cancer: a call to restart screening activities."
The therapeutics segment is expected to be the largest during the forecast period
Therapeutics segment is expected to have largest share over the projection period, due to the efficiency of the medications employed in immunotherapy and a rise in their approvals, immunotherapy is determined to occupy the largest portion of the market. Additionally, immune therapy includes giving drugs to help the body's defenses recognize and efficiently combat cancer cells. Melanoma cancer can be treated with a variety of immunotherapies that are now accessible. However, there are currently numerous melanoma immunotherapy treatments that have received approval from the Food and Drug Administration, which supports the market's expansion.
The diagnosis segment is expected to have the highest CAGR during the forecast period
Diagnosis segment is expected to have highest CAGR over the forecast period. A handheld instrument called a dermatoscope functions as a magnifying glass for the skin. It can amplify by a factor of 10 at its maximum. AI-based categorization systems provide rapid and precise distinctions between benign and malignant tumors. Databases are a useful tool in this process because of advances in software. However, patients will provide their permission for the storage of their lesion photos in a database that will act as a repository and allow artificial intelligence systems to compare recently acquired images to those already maintained.
Region with largest share:
Due to the region's increasing melanoma and other skin cancer instances, North America will continue to maintain the largest share of the market over the projection period. The most frequent cancer in the United States, according to statistics from the American Academy of Dermatology Association (AAD) from 2022, is skin cancer. According to the AAD, skin cancer will affect one in five Americans at some point in their lives. Additionally, every day in the United States, about 9,500 people receive a skin cancer diagnosis.
Region with highest CAGR:
South America is expected to have lucrative growth over the projection period due to rise in the incidence of skin cancer in Brazil. Because of this factor brazil will drive the market expansion in this region. For instance, melanoma skin cancer accounts for 3% of malignant skin tumors in Brazil, according to an article in Sociedade Brasileira de Dermatologia, 2021. Additionally, during the course of the projected period, the market will develop as a result of the rising launches and initiatives in the nation. These recent breakthroughs are anticipated to increase demand for melanoma diagnostics and therapies across the nation, boosting market expansion across the area.
Key players in the market
Some of the key players in Melanoma Diagnostics and Therapeutics market include AB Sciences, Abbott Diagnostics, Amgen, Inc., bioMérieux SA , Bristol-Myers Squibb, Caliber Imaging & Diagnostics, Inc., Canfield Scientific, Inc., Dermlite, DermTech, F. Hoffman-La Roche Ltd., GlaxoSmithKline PLC, Merck & Co., Inc, Novartis AG and Pfizer, Inc..
Key Developments:
In January 2022, Pfizer Inc. received approval from the United States Food and Drug Administration (FDA) for CIBINQO (abrocitinib), which is an oral, once-daily, Janus kinase 1 (JAK1) inhibitor, for the treatment of adults living with refractory, moderate-to-severe atopic dermatitis (AD) whose disease is not adequately controlled with other systemic drug products, including biologics, or when the use of those therapies is inadvisable.
In January 2022, Immunocore received FDA approval for its KIMMTRAK (tebentafusp-tebn) for the treatment of unresectable or metastatic uveal melanoma.
Products Covered:
• Diagnostics
• Therapeutics
Applications Covered:
• Diagnostic Center
• Medical Institution
• Hospitals
• 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 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
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 Application Analysis
3.8 Emerging Markets
3.9 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 Melanoma Diagnostics and Therapeutics Market, By Product
5.1 Introduction
5.2 Diagnostics
5.2.1 Biopsy Devices
5.2.2 Dermatoscopy Devices
5.3 Therapeutics
5.3.1 Treatment
5.3.1.1 Early Melanoma
5.3.1.2 Advanced Melanoma
5.3.1.2.1 Biological Therapy
5.3.1.2.2 Chemotherapy
5.3.1.2.3 Freezing
5.3.1.2.4 Immune Therapy
5.3.1.2.5 Radiotherapy
5.3.1.2.6 Scraping
5.3.1.2.7 Surgery
5.3.1.2.8 Targeted Therapy
5.3.2 Diagnosis
5.3.2.1 Blood Tests
5.3.2.2 CT Scan
5.3.2.3 Dermatoscopy
5.3.2.4 Sentinel Lymph Node Biopsy
5.3.2.5 Ultrasound
5.3.2.6 X-rays
5.3.3 Cancer Type
5.3.3.1 Acral Lentiginous Melanoma
5.3.3.2 Amelanotic Melanoma
5.3.3.3 Lentigo Maligna Melanoma
5.3.3.4 Nodular Melanoma
5.3.3.5 Superficial Spreading Melanoma
5.3.3.6 Other Cancer Types
5.3.4 Cancer Stage
5.3.4.1 Stage 0
5.3.4.2 Stage I
5.3.4.3 Stage II
5.3.4.4 Stage III
5.3.4.5 Stage IV
5.3.5 Drug
5.3.5.1 Branded Drugs
5.3.5.1.1 Cotellic
5.3.5.1.2 Imlygic
5.3.5.1.3 Keytruda
5.3.5.1.4 Mekinist+Tafinlar
5.3.5.1.5 Opdivo
5.3.5.1.6 Yervoy
5.3.5.1.7 Zelboraf
5.3.5.2 Generic Drugs
6 Global Melanoma Diagnostics and Therapeutics Market, By Application
6.1 Introduction
6.2 Diagnostic Center
6.3 Medical Institution
6.4 Hospitals
6.5 Other Applications
7 Global Melanoma Diagnostics and Therapeutics 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 AB Sciences
9.2 Abbott Diagnostics
9.3 Amgen, Inc.
9.4 bioMérieux SA
9.5 Bristol-Myers Squibb
9.6 Caliber Imaging & Diagnostics, Inc.
9.7 Canfield Scientific, Inc.
9.8 Dermlite
9.9 DermTech
9.10 F. Hoffman-La Roche Ltd.
9.11 GlaxoSmithKline PLC
9.12 Merck & Co., Inc
9.13 Novartis AG
9.14 Pfizer, Inc.
List of Tables
1 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Region (2020-2028) ($MN)
2 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
3 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
4 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
5 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
6 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
7 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
8 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
9 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
10 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
11 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
12 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
13 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
14 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
15 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
16 Global Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($MN)
17 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Country (2020-2028) ($MN)
18 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
19 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
20 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
21 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
22 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
23 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
24 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
25 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
26 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
27 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
28 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
29 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
30 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
31 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
32 North America Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($MN)
33 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Country (2020-2028) ($MN)
34 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
35 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
36 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
37 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
38 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
39 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
40 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
41 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
42 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
43 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
44 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
45 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
46 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
47 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
48 Europe Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($MN)
49 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Country (2020-2028) ($MN)
50 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
51 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
52 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
53 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
54 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
55 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
56 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
57 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
58 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
59 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
60 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
61 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
62 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
63 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
64 Asia Pacific Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($MN)
65 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Country (2020-2028) ($MN)
66 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
67 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
68 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
69 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
70 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
71 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
72 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
73 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
74 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
75 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
76 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
77 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
78 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
79 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
80 South America Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($MN)
81 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Country (2020-2028) ($MN)
82 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Product (2020-2028) ($MN)
83 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostics (2020-2028) ($MN)
84 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Biopsy Devices (2020-2028) ($MN)
85 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Dermatoscopy Devices (2020-2028) ($MN)
86 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Therapeutics (2020-2028) ($MN)
87 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Treatment (2020-2028) ($MN)
88 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnosis (2020-2028) ($MN)
89 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Type (2020-2028) ($MN)
90 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Cancer Stage (2020-2028) ($MN)
91 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Drug (2020-2028) ($MN)
92 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Application (2020-2028) ($MN)
93 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Diagnostic Center (2020-2028) ($MN)
94 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Medical Institution (2020-2028) ($MN)
95 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
96 Middle East & Africa Melanoma Diagnostics and Therapeutics Market Outlook, By Other Applications (2020-2028) ($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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