Pharmacy Benefit Management Market
Pharmacy Benefit Management Market Forecasts to 2030 - Global Analysis By Service (Specialty Pharmacy Services, Benefit Plan Design & Administration, Pharmacy Claims Processing, Formulary Management and Other Services), By Business Model (Government Health Programs, Employer-Sponsored Programs and Health Insurance Management), By End User (Pharmacy Benefit Management Organization, Mail Order Pharmacies, Retail Pharmacies and Other End Users) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $502.1 BN |
|
Projected Year Value (2030) |
US $843.9 BN |
|
CAGR (2023 - 2030) |
7.7% |
|
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 |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Pharmacy Benefit Management Market is accounted for $502.1 billion in 2023 and is expected to reach $843.9 billion by 2030 growing at a CAGR of 7.7% during the forecast period. Pharmacy Benefit Management (PBM) is a service that administers prescription drug benefits for health insurance plans. PBMs negotiate with pharmacies, manage formularies, and process claims, aiming to optimize drug utilization and control costs. Their role streamlines drug access, enhances affordability, and promotes efficient healthcare delivery.
According to the Centers for Medicare and Medicaid Services (CMS) Medicare Advantage Enrollment Files, 30.8 million people in the U.S. were enrolled in a Medicare Advantage plan, which accounted for 51.0% of the eligible Medicare population in 2023.
Market Dynamics:
Driver:
Growing prevalence of chronic conditions boosts
The global burden of chronic diseases continues to rise, there is an increased demand for efficient management of medication access and adherence. PBMs play a pivotal role in this landscape by negotiating drug prices, optimizing formularies, and implementing strategies to control costs associated with chronic disease treatments. Their focus on improving patient outcomes through personalized medication plans aligns with the evolving healthcare landscape, making PBMs essential in addressing the complexities of chronic conditions and ensuring cost-effective access to necessary medications for a growing population with long-term health needs.
Restraint:
Lack of transparency in drug pricing
This opacity in pricing mechanisms creates challenges for both consumers and PBMs in understanding the true cost of medications. With intricate rebate structures and undisclosed pricing negotiations between PBMs and pharmaceutical manufacturers, stakeholders often face difficulties in comprehending the actual value of prescribed drugs. This lack of transparency not only hampers informed decision-making but also diminishes trust in the healthcare system. Patients may bear the brunt of high out-of-pocket costs, while PBMs may struggle to effectively negotiate and manage drug expenses.
Opportunity:
Supportive policies and regulations
Governments increasingly recognize the pivotal role of PBMs in enhancing healthcare efficiency and controlling drug costs, favorable regulatory frameworks can stimulate market growth. Policies that promote transparency, fair competition, and standardization within the PBM sector create a conducive environment for innovation and collaboration. By aligning regulations with the evolving needs of healthcare systems, policymakers can empower PBMs to optimize prescription drug benefits, ultimately benefiting patients and healthcare providers. This regulatory support not only fosters a more resilient and competitive PBM market but also contributes to the overall improvement of healthcare affordability and accessibility.
Threat:
Lack of Standardization
With diverse drug formularies, benefit structures, and reimbursement models, the absence of uniformity introduces complexities in PBM practices. This lack of standardization can impede interoperability, hindering seamless information exchange among various stakeholders in the healthcare ecosystem. It also creates challenges in comparing and benchmarking PBM performance, limiting transparency and inhibiting the establishment of best practices. Moreover, the absence of standardized processes may lead to inefficiencies and errors, impacting the quality of care and patient outcomes.
Covid-19 Impact:
The Covid-19 pandemic has exerted a multifaceted impact on the Pharmacy Benefit Management (PBM) market. Increased healthcare demands, disruptions in the drug supply chain, and altered patient behavior have reshaped the dynamics of prescription drug management. Telehealth expansion, accelerated digitalization, and a renewed focus on public health underscore the evolving role of PBMs in adapting to the challenges posed by the pandemic. While the crisis has prompted innovation, it has also highlighted the need for resilient and flexible PBM strategies to navigate the ongoing healthcare landscape.
The specialty pharmacy services segment is expected to be the largest during the forecast period
The specialty pharmacy services segment is expected to have a lucrative growth by addressing the unique needs of patients requiring complex, high-cost medications for chronic and rare conditions. These services optimize access to specialty drugs, ensuring timely delivery, patient education, and comprehensive support. PBMs offering specialty pharmacy services enhance medication adherence, manage costs, and contribute to improved patient outcomes, demonstrating a vital commitment to personalized care in the rapidly evolving landscape of pharmaceutical benefits.
The retail pharmacies segment is expected to have the highest CAGR during the forecast period
The retail pharmacies segment is anticipated to witness the fastest CAGR growth during the forecast period. PBMs collaborate with retail pharmacies to optimize prescription drug benefits, negotiate pricing, and streamline claims processing. This partnership ensures convenient access to medications for patients while enhancing cost-effectiveness and efficiency in the healthcare system. Retail pharmacies, as key players in the PBM ecosystem, contribute to the overall goal of providing affordable and accessible pharmaceutical care to a broad population.
Region with largest share:
North America secures the largest share in the market over the forecast period driven by a robust healthcare infrastructure, high healthcare spending, and a significant burden of chronic diseases. The region's well-established regulatory environment and widespread adoption of health insurance contribute to the strong presence of PBMs. Moreover, the constant emphasis on cost containment and the integration of advanced technologies in healthcare further propel the growth of PBMs, making North America a key player in shaping the evolution of pharmacy benefit management services.
Region with highest CAGR:
The Asia Pacific region exhibits the highest CAGR in the market over the forecast period due to multiple factors driven by increasing healthcare awareness, rising chronic diseases and expanding insurance coverage. Governments' efforts to control healthcare costs and improve access to medications further propel PBM adoption. The region's diverse and growing pharmaceutical market offers opportunities for PBMs to optimize drug benefits. However, challenges include navigating varied regulatory landscapes and diverse healthcare systems. As PBM awareness rises, the Asia Pacific presents a dynamic landscape for companies aiming to enhance pharmaceutical cost management and patient care.
Key players in the market
Some of the key players in Pharmacy Benefit Management market include Abarca Health LLC., SS&C Technologies, Inc., Anthem, Inc., Benecard Services, LLC, CaptureRx, Centene Corporation, ProCare Rx, Change Healthcare, OptumRx, Inc., Cigna, Medimpact, CVS Health, Elixir Rx Solutions, LLC and Express Scripts Holding Company.
Key Developments:
In July 2023, CVS Caremark announced a partnership with the discount drug service provider GoodRx to reduce out-of-pocket prescription costs for millions of people.
In October 2022, Omnicell, Inc., a provider of medication management and adherence tools for health systems and pharmacies, launched Specialty Pharmacy Services, a comprehensive offering designed to help health systems launch and/or optimize a fully managed, hospital-owned specialty pharmacy.
In March 2022, ProdigyRx, a pharmacy benefits manager, launched its business operations that offer PBM services and clinical solutions for workers' compensation insurers, third-party administrators, and self-insured/administered employers.
Services Covered:
• Specialty Pharmacy Services
• Benefit Plan Design & Administration
• Pharmacy Claims Processing
• Formulary Management
• Other Services
Business Models Covered:
• Government Health Programs
• Employer-Sponsored Programs
• Health Insurance Management
End Users Covered:
• Pharmacy Benefit Management Organization
• Mail Order Pharmacies
• Retail Pharmacies
• 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 Pharmacy Benefit Management Market, By Service
5.1 Introduction
5.2 Specialty Pharmacy Services
5.3 Benefit Plan Design & Administration
5.4 Pharmacy Claims Processing
5.5 Formulary Management
5.6 Other Services
6 Global Pharmacy Benefit Management Market, By Business Model
6.1 Introduction
6.2 Government Health Programs
6.3 Employer-Sponsored Programs
6.4 Health Insurance Management
7 Global Pharmacy Benefit Management Market, By End User
7.1 Introduction
7.2 Pharmacy Benefit Management Organization
7.3 Mail Order Pharmacies
7.4 Retail Pharmacies
7.5 Other End Users
8 Global Pharmacy Benefit Management 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 Abarca Health LLC.
10.2 SS&C Technologies, Inc.
10.3 Anthem, Inc.
10.4 Benecard Services, LLC
10.5 CaptureRx
10.6 Centene Corporation
10.7 ProCare Rx
10.8 Change Healthcare
10.9 OptumRx, Inc.
10.10 Cigna
10.11 Medimpact
10.12 CVS Health
10.13 Elixir Rx Solutions, LLC
10.14 Express Scripts Holding Company
List of Tables
1 Global Pharmacy Benefit Management Market Outlook, By Region (2021-2030) ($MN)
2 Global Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
3 Global Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
4 Global Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN)
5 Global Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
6 Global Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
7 Global Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
8 Global Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
9 Global Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
10 Global Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
11 Global Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
12 Global Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
13 Global Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN)
14 Global Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
15 Global Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
16 Global Pharmacy Benefit Management Market Outlook, By Other End Users (2021-2030) ($MN)
17 North America Pharmacy Benefit Management Market Outlook, By Country (2021-2030) ($MN)
18 North America Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
19 North America Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
20 North America Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN)
21 North America Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
22 North America Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
23 North America Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
24 North America Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
25 North America Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
26 North America Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
27 North America Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
28 North America Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
29 North America Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN)
30 North America Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
31 North America Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
32 North America Pharmacy Benefit Management Market Outlook, By Other End Users (2021-2030) ($MN)
33 Europe Pharmacy Benefit Management Market Outlook, By Country (2021-2030) ($MN)
34 Europe Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
35 Europe Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
36 Europe Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN)
37 Europe Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
38 Europe Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
39 Europe Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
40 Europe Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
41 Europe Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
42 Europe Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
43 Europe Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
44 Europe Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
45 Europe Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN)
46 Europe Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
47 Europe Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
48 Europe Pharmacy Benefit Management Market Outlook, By Other End Users (2021-2030) ($MN)
49 Asia Pacific Pharmacy Benefit Management Market Outlook, By Country (2021-2030) ($MN)
50 Asia Pacific Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
51 Asia Pacific Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
52 Asia Pacific Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN)
53 Asia Pacific Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
54 Asia Pacific Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
55 Asia Pacific Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
56 Asia Pacific Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
57 Asia Pacific Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
58 Asia Pacific Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
59 Asia Pacific Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
60 Asia Pacific Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
61 Asia Pacific Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN)
62 Asia Pacific Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
63 Asia Pacific Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
64 Asia Pacific Pharmacy Benefit Management Market Outlook, By Other End Users (2021-2030) ($MN)
65 South America Pharmacy Benefit Management Market Outlook, By Country (2021-2030) ($MN)
66 South America Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
67 South America Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
68 South America Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN)
69 South America Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
70 South America Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
71 South America Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
72 South America Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
73 South America Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
74 South America Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
75 South America Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
76 South America Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
77 South America Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN) 78 South America Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
79 South America Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
80 South America Pharmacy Benefit Management Market Outlook, By Other End Users (2021-2030) ($MN)
81 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Service (2021-2030) ($MN)
83 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Specialty Pharmacy Services (2021-2030) ($MN)
84 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Benefit Plan Design & Administration (2021-2030) ($MN) 85 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Pharmacy Claims Processing (2021-2030) ($MN)
86 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Formulary Management (2021-2030) ($MN)
87 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Other Services (2021-2030) ($MN)
88 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Business Model (2021-2030) ($MN)
89 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Government Health Programs (2021-2030) ($MN)
90 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Employer-Sponsored Programs (2021-2030) ($MN)
91 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Health Insurance Management (2021-2030) ($MN)
92 Middle East & Africa Pharmacy Benefit Management Market Outlook, By End User (2021-2030) ($MN)
93 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Pharmacy Benefit Management Organization (2021-2030) ($MN)
94 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Mail Order Pharmacies (2021-2030) ($MN)
95 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Retail Pharmacies (2021-2030) ($MN)
96 Middle East & Africa Pharmacy Benefit Management Market Outlook, By Other End Users (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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