Telehealth Market
PUBLISHED: 2023 ID: SMRC22530
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Telehealth Market

Telehealth Market Forecasts to 2028 - Global Analysis By Component (Hardware, Software, Services and Other Components), Modality (Remote Patient Monitoring, Real-Time and Store-And-Forward), Application (Telemedicine, Patient Monitoring, Continuous Medical Education and Other Applications), End User and Geography

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Published: 2023 ID: SMRC22530

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

2022-2028

Estimated Year Value (2022)

US $87.2 BN

Projected Year Value (2028)

US $394.4BN

CAGR (2022 - 2028)

28.6%

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

Europe


According to Stratistics MRC, the Global Telehealth Market is accounted for $87.2 billion in 2022 and is expected to reach $394.4 billion by 2028 growing at a CAGR of 28.6% during the forecast period. The use of communications technologies to deliver healthcare remotely is known as telehealth. Owing to developments in communications, computer science, informatics, and medical technology, telehealth has become a useful tool. In telehealth, blood pressure, heart rate, and other measures are frequently continuously monitored and electronically transmitted to medical staff by a patient's wearable gadget.

According to “The European digital health revolution in the wake of COVID-19” published in April 2021, the European Commission proposed the EU4Health program as part of a COVID-19 recovery response program. The initiative aims to raise EUR 5.1 billion for the digital transformation of the European health sector and ensure preparedness for future cross-border health threats.



Market Dynamics:

Driver:

Governmental Initiatives in Momentum for Telehealth Solutions

The distance barrier has been successfully broken down by telehealth, facilitating the provision of healthcare in outlying areas. The majority of people live in rural areas without access to high-quality healthcare, particularly in developing nations. As a result, several governments are increasingly putting their attention on developing virtual care platforms to deliver healthcare services in remote areas, in order to encourage the expansion of the market; the government is creating trial programmes and policies. The introduction of electronic intensive care units (e-ICUs), which allow for remote patient monitoring via two-way cameras, high-speed internet, and electronic devices, is also supported by the governments of many different countries thus, propelling the market growth.

Restraint:

Technological barrier

Despite the tremendous potential of teleconsultation, infrastructure and technological limitations are a major hindrance to the market's growth in underdeveloped nations. The introduction of digital health platforms necessitates the use of reducing telecommunications equipment, high-speed internet with lots of bandwidth, and storage space for storing and transmitting medical data, all of which are still in short supply in many developing nations. A significant market limitation is the high cost of implementing the required systems, devices, and equipment connected with real-time measurement of healthcare data which hampers the market.

Opportunity:

Rising Healthcare Cost

The rising incidence of chronic diseases and the rising number of elderly people drive up healthcare costs dramatically. Huge sums of money have been spent on the diagnosis, treatment, and management of numerous diseases. The demand for technology-driven systems that can deliver high-quality healthcare while also lowering costs has surged as a result of this. Telehealth is quickly implemented in all healthcare facilities because it satisfactorily satisfies these objectives which will be accelerating the telehealth market growth.

Threat:

Healthcare exploitation

Regarding telemedicine activities, health care is a crucial factor. There are many ways in which a patient's name or a doctor's account can be utilized to obtain payments from the insurance company, or how organisational providers who are not eligible or listed can interact in inappropriate billing and coding for false allegations. Such deceptive procedures may lead to a decline in telehealth services' credibility and trust. Victimized patients often frequently publicise their unpleasant encounters in the market, which discourages many new competitors and restricts market expansion.

Covid-19 Impact

The world has come to a complete halt as a result of the unexpected COVID-19 pandemic outbreak. This pandemic is being fought globally, putting further strain on hospitals and medical staff. But this has also given digital health platforms new market opportunities. The current crisis is expected to greatly increase demand for virtual consultations. Moreover, in the combat against the COVID-19 epidemic, this has shown to be a potent weapon. Teleconsultation and remote monitoring services are becoming more popular. One of the key reasons for the increased demand for services is the strong emphasis on social distance between patients and doctors thus Covid 19 has shown a positive impact on the telehealth market.

The services segment is expected to be the largest during the forecast period

The Services segment is estimated to have a lucrative growth, due to the key drivers of the segment which includes the rapid rise in virtual consultations, rising funding for start-ups, and developing reimbursement guidelines for teleconsultations. In addition, online visits in some clinics, telemedicine may be used to provide care remotely. Clinics might provide virtual visits, for instance as well as remote monitoring enables you to speak with a nurse, mental health counsellor, or healthcare professional via phone or video chat as result of the segment's expansion.

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

The telemedicine segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the provision of healthcare services, where distance is a significant barrier, by all healthcare professionals using information and communication technologies for the exchange of reliable knowledge for the diagnosis, treatment, and prevention of disease and injuries, research and evaluation, and for the continuing education of healthcare professionals, all in the pursuit of improving the health of individuals and their communities are providing a reliable growth of the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the rising inclination for teleconsultation, strategic presence of important companies, and attractive health reimbursement. A Smart Suite, a mock-up of a home outfitted with mobile Health technologies to monitor the occupants, the expansion of the market in this region is anticipated to be fuelled by the rising burden of chronic illnesses and the high awareness of digital health & virtual care platforms among healthcare professionals & patients.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period; owing to increase as a result of factors including the growing senior population in nations like India and Japan, as well as technological developments in the field of digital health and research projects launched by the major players. Government activities that favourably improve internet access as well as the rising demand for healthcare and medical support in rural areas are also anticipated to have a beneficial impact on market expansion. Additionally, it is anticipated that the region's market will grow faster than average due to the region's shortage of healthcare experts and the requirement to control healthcare spending by boosting the market.



Key players in the market

Some of the key players profiled in the Telehealth Market include Honeywell International Inc., American Well, Boston Scientific Corporation, Medtronic PLC, Care Innovations LLC, GlobalMed, Siemens, AMD Global Telemedicine Inc., Allscripts Healthcare Solutions, Doctor on Demand Inc, Teladoc Health Inc, MDLIVE Inc, OpenTeleHealth, Grand Rounds Inc., Cisco Systems, Telespecialists and Medweb

Key Developments:

In Dec 2020, Care Innovations Collaborates with PWNHealth and Fulgent Genetics to Provide At-Home COVID-19 Test Capabilities, Enabled through a collaboration with PWNHealth and Fulgent Genetics (NASDAQ: FLGT), the testing capabilities expand PRA’s existing COVID-19 clinical monitoring, symptom reporting and management services that are available on the patient-facing Health HarmonyTM mobile app.

In Oct 2017, Care Innovations® and PRA Health Sciences Announce Strategic Partnership, The partnership will enable PRA to utilize the Care Innovations Health Harmony Platform, logistics services, internal resources and expertise to engage with patients in the home as part of their connected trials solution.

In Oct 2016, Care Innovations Launches Behavior Training Course for Clinicians to Drive Patient Behavior Change and Engagement for Improved Clinical Outcomes, The behavior training course outlines the challenges associated with trying to increase engagement, identifies areas for improvement, and highlights technology’s role in supporting these efforts.

Components Covered:
• Hardware
• Software
• Services
• Other Components

Modalities Covered:
• Remote Patient Monitoring
• Real-Time
• Store-And-Forward

Applications Covered:
• Telemedicine
• Patient Monitoring
• Continuous Medical Education
• Other Applications

End Users Covered:
• Hospitals & Clinics
• Diagnostic Centers
• Home Care
• 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 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 Application Analysis
3.7 End User 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 Telehealth Market, By Component
5.1 Introduction
5.2 Hardware
5.2.1 Monitors
5.2.2 Medical Peripheral Devices
5.3 Software
5.4 Services
5.5 Other Components

6 Global Telehealth Market, By Modality
6.1 Introduction
6.2 Remote Patient Monitoring
6.3 Real-Time
6.4 Store-And-Forward

7 Global Telehealth Market, By Application
7.1 Introduction
7.2 Telemedicine
7.3 Patient Monitoring
7.4 Continuous Medical Education
7.5 Other Applications

8 Global Telehealth Market, By End User
8.1 Introduction
8.2 Hospitals & Clinics
8.3 Diagnostic Centers
8.4 Home Care
8.5 Other End Users

9 Global Telehealth 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 Honeywell International Inc.
11.2 American Well
11.3 Boston Scientific Corporation
11.4 Medtronic PLC
11.5 Care Innovations LLC
11.6 GlobalMed
11.7 Siemens
11.8 AMD Global Telemedicine Inc.
11.9 Allscripts Healthcare Solutions
11.10 Doctor on Demand Inc
11.11 Teladoc Health Inc
11.12 MDLIVE Inc
11.13 OpenTeleHealth
11.14 Grand Rounds Inc.
11.15 Cisco Systems
11.16 Telespecialists
11.17 Medweb

List of Tables
1 Global Telehealth Market Outlook, By Region (2020-2028) ($MN)
2 Global Telehealth Market Outlook, By Component (2020-2028) ($MN)
3 Global Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
4 Global Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
5 Global Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
6 Global Telehealth Market Outlook, By Software (2020-2028) ($MN)
7 Global Telehealth Market Outlook, By Services (2020-2028) ($MN)
8 Global Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
9 Global Telehealth Market Outlook, By Modality (2020-2028) ($MN)
10 Global Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
11 Global Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
12 Global Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
13 Global Telehealth Market Outlook, By Application (2020-2028) ($MN)
14 Global Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
15 Global Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
16 Global Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
17 Global Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
18 Global Telehealth Market Outlook, By End User (2020-2028) ($MN)
19 Global Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
20 Global Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
21 Global Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
22 Global Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
23 North America Telehealth Market Outlook, By Country (2020-2028) ($MN)
24 North America Telehealth Market Outlook, By Component (2020-2028) ($MN)
25 North America Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
26 North America Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
27 North America Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
28 North America Telehealth Market Outlook, By Software (2020-2028) ($MN)
29 North America Telehealth Market Outlook, By Services (2020-2028) ($MN)
30 North America Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
31 North America Telehealth Market Outlook, By Modality (2020-2028) ($MN)
32 North America Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
33 North America Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
34 North America Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
35 North America Telehealth Market Outlook, By Application (2020-2028) ($MN)
36 North America Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
37 North America Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
38 North America Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
39 North America Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
40 North America Telehealth Market Outlook, By End User (2020-2028) ($MN)
41 North America Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
42 North America Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
43 North America Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
44 North America Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
45 Europe Telehealth Market Outlook, By Country (2020-2028) ($MN)
46 Europe Telehealth Market Outlook, By Component (2020-2028) ($MN)
47 Europe Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
48 Europe Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
49 Europe Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
50 Europe Telehealth Market Outlook, By Software (2020-2028) ($MN)
51 Europe Telehealth Market Outlook, By Services (2020-2028) ($MN)
52 Europe Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
53 Europe Telehealth Market Outlook, By Modality (2020-2028) ($MN)
54 Europe Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
55 Europe Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
56 Europe Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
57 Europe Telehealth Market Outlook, By Application (2020-2028) ($MN)
58 Europe Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
59 Europe Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
60 Europe Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
61 Europe Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
62 Europe Telehealth Market Outlook, By End User (2020-2028) ($MN)
63 Europe Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
64 Europe Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
65 Europe Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
66 Europe Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
67 Asia Pacific Telehealth Market Outlook, By Country (2020-2028) ($MN)
68 Asia Pacific Telehealth Market Outlook, By Component (2020-2028) ($MN)
69 Asia Pacific Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
70 Asia Pacific Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
71 Asia Pacific Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
72 Asia Pacific Telehealth Market Outlook, By Software (2020-2028) ($MN)
73 Asia Pacific Telehealth Market Outlook, By Services (2020-2028) ($MN)
74 Asia Pacific Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
75 Asia Pacific Telehealth Market Outlook, By Modality (2020-2028) ($MN)
76 Asia Pacific Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
77 Asia Pacific Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
78 Asia Pacific Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
79 Asia Pacific Telehealth Market Outlook, By Application (2020-2028) ($MN)
80 Asia Pacific Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
81 Asia Pacific Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
82 Asia Pacific Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
83 Asia Pacific Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
84 Asia Pacific Telehealth Market Outlook, By End User (2020-2028) ($MN)
85 Asia Pacific Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
86 Asia Pacific Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
87 Asia Pacific Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
88 Asia Pacific Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
89 South America Telehealth Market Outlook, By Country (2020-2028) ($MN)
90 South America Telehealth Market Outlook, By Component (2020-2028) ($MN)
91 South America Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
92 South America Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
93 South America Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
94 South America Telehealth Market Outlook, By Software (2020-2028) ($MN)
95 South America Telehealth Market Outlook, By Services (2020-2028) ($MN)
96 South America Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
97 South America Telehealth Market Outlook, By Modality (2020-2028) ($MN)
98 South America Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
99 South America Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
100 South America Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
101 South America Telehealth Market Outlook, By Application (2020-2028) ($MN)
102 South America Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
103 South America Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
104 South America Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
105 South America Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
106 South America Telehealth Market Outlook, By End User (2020-2028) ($MN)
107 South America Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
108 South America Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
109 South America Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
110 South America Telehealth Market Outlook, By Other End Users (2020-2028) ($MN)
111 Middle East & Africa Telehealth Market Outlook, By Country (2020-2028) ($MN)
112 Middle East & Africa Telehealth Market Outlook, By Component (2020-2028) ($MN)
113 Middle East & Africa Telehealth Market Outlook, By Hardware (2020-2028) ($MN)
114 Middle East & Africa Telehealth Market Outlook, By Monitors (2020-2028) ($MN)
115 Middle East & Africa Telehealth Market Outlook, By Medical Peripheral Devices (2020-2028) ($MN)
116 Middle East & Africa Telehealth Market Outlook, By Software (2020-2028) ($MN)
117 Middle East & Africa Telehealth Market Outlook, By Services (2020-2028) ($MN)
118 Middle East & Africa Telehealth Market Outlook, By Other Components (2020-2028) ($MN)
119 Middle East & Africa Telehealth Market Outlook, By Modality (2020-2028) ($MN)
120 Middle East & Africa Telehealth Market Outlook, By Remote Patient Monitoring (2020-2028) ($MN)
121 Middle East & Africa Telehealth Market Outlook, By Real-Time (2020-2028) ($MN)
122 Middle East & Africa Telehealth Market Outlook, By Store-And-Forward (2020-2028) ($MN)
123 Middle East & Africa Telehealth Market Outlook, By Application (2020-2028) ($MN)
124 Middle East & Africa Telehealth Market Outlook, By Telemedicine (2020-2028) ($MN)
125 Middle East & Africa Telehealth Market Outlook, By Patient Monitoring (2020-2028) ($MN)
126 Middle East & Africa Telehealth Market Outlook, By Continuous Medical Education (2020-2028) ($MN)
127 Middle East & Africa Telehealth Market Outlook, By Other Applications (2020-2028) ($MN)
128 Middle East & Africa Telehealth Market Outlook, By End User (2020-2028) ($MN)
129 Middle East & Africa Telehealth Market Outlook, By Hospitals & Clinics (2020-2028) ($MN)
130 Middle East & Africa Telehealth Market Outlook, By Diagnostic Centers (2020-2028) ($MN)
131 Middle East & Africa Telehealth Market Outlook, By Home Care (2020-2028) ($MN)
132 Middle East & Africa Telehealth Market Outlook, By Other End Users (2020-2028) ($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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