Telepharmacy Market
Telepharmacy Market Forecasts to 2030 - Global Analysis By Service (Drug Therapy Monitoring, Patient Counselling and Other Services), By Delivery Mode (On-premises, Cloud-based and Web-based), Device, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $9.2 BN |
|
Projected Year Value (2030) |
US $30.1 BN |
|
CAGR (2023-2030) |
18.4% |
|
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 Telepharmacy Market is accounted for $9.2 billion in 2023 and is expected to reach $30.1 billion by 2030 growing at a CAGR of 18.4% during the forecast period. Telepharmacy encompasses remote pharmaceutical services delivered via telecommunications and digital platforms. It enables pharmacists to provide medication consultations, therapy management and dispensing remotely. Telepharmacy enhances accessibility to pharmacy services, especially in underserved regions, facilitates medication adherence, and offers virtual consultations, aiding in patient care and medication support through remote interactions and technological solutions.
According to the National Institute of Health (NIH) survey on patients’ perspectives and preferences in adopting telepharmacy versus in-person visits to the pharmacy during the COVID-19 pandemic, about 77% of respondents preferred appointments via telepharmacy.
Market Dynamics:
Driver:
Growing demand for remote healthcare solutions
The increasing demand for remote healthcare solutions drives the telepharmacy market. Factors such as geographic barriers, limited access to pharmacies and the need for convenient healthcare options, especially in rural or underserved areas, fuel this demand. Telepharmacy addresses these challenges by offering remote pharmaceutical services, including medication consultations, therapy management, and prescription refills. The growing preference for virtual interactions, coupled with the desire for accessible and timely healthcare, positions telepharmacy as a pivotal solution, propelling its adoption and market growth.
Restraint:
Challenges in obtaining licenses across different jurisdictions
Different regulations and licensing requirements in different regions or states demand complex compliance procedures. Telepharmacy services operating across multiple jurisdictions must navigate varied legal frameworks, which often involve rigorous and time-consuming processes for licensure. The need for adherence to distinct regulations complicates operations, increases administrative burdens, and hampers swift market expansion. This challenge of navigating diverse licensing requirements across jurisdictions impedes the seamless delivery of telepharmacy services, limiting geographic reach and scalability.
Opportunity:
Growing awareness regarding the telepharmacy
The increasing awareness surrounding telepharmacy presents a significant opportunity in the market. As remote healthcare solutions grow among patients and healthcare providers, there's heightened recognition of the benefits telepharmacy offers, including improved accessibility to pharmaceutical services, enhanced medication management and expanded healthcare reach, especially in underserved areas. This awareness fosters greater acceptance and adoption of telepharmacy solutions, encouraging both patients and healthcare organizations to embrace these remote services, thereby driving the market's growth and facilitating a more widespread implementation of telepharmacy initiatives.
Threat:
Privacy and data security risks
Handling sensitive patient information remotely increases vulnerability to cyber threats, data breaches and unauthorized access. Protecting patient confidentiality and complying with stringent privacy regulations have become paramount. Mishandling or unauthorized disclosure of health data erodes patient trust and could lead to legal repercussions, which further hinders market expansion.
Covid-19 Impact:
The COVID-19 pandemic significantly accelerated the adoption of telepharmacy solutions. The crisis highlighted the need for remote healthcare access, prompting increased reliance on telemedicine and telepharmacy services. Lockdowns, social distancing measures and healthcare facility limitations pushed patients and providers to embrace remote consultations, prescription refills and medication management through telepharmacy platforms. This surge in demand showcased telepharmacy's potential in ensuring continuity of care, shaping a long-term shift towards remote pharmaceutical services.
The patient counselling segment is expected to be the largest during the forecast period
The patient counselling segment is expected to dominate the telepharmacy market due to its pivotal role in medication management and patient-centric care. Telepharmacy facilitates personalized counseling, empowering patients with comprehensive medication guidance, dosage instructions, and adverse effects management. As healthcare increasingly focuses on patient engagement and adherence, telepharmacy's ability to offer remote counseling services, especially for chronic conditions or complex therapies, becomes crucial. This demand for tailored counseling propels the patient counselling segment, emphasizing its significance in ensuring effective pharmaceutical care through telepharmacy services.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is anticipated to experience substantial growth in the telepharmacy market due to evolving healthcare dynamics. Hospitals increasingly adopt telepharmacy to optimize patient care, streamline medication management, and extend services remotely. The integration of telepharmacy solutions within hospital systems enhances medication adherence and facilitates virtual consultations, especially for discharged patients or those with chronic conditions. Additionally, telepharmacy augments healthcare access, reducing readmission rates and ensuring continuous medication support, positioning the hospitals segment for significant expansion.
Region with largest share:
North America is expected to register the largest market share in the telepharmacy market, owing to its advanced healthcare infrastructure, tech-driven innovation, and mature telehealth landscape. The region boasts robust regulatory frameworks supporting telepharmacy adoption. Furthermore, increased healthcare spending, a growing aging population, and the emphasis on improving healthcare access drive the demand for remote pharmaceutical services. With established telehealth practices and widespread digital connectivity, North America is primed to lead in telepharmacy, leveraging its technological prowess and healthcare advancements to cater to evolving patient needs.
Region with highest CAGR:
Asia Pacific is set to witness substantial growth in the telepharmacy market due to the region's expanding healthcare infrastructure, increasing adoption of digital technology and rising demand for accessible healthcare services. Telepharmacy addresses geographical barriers, especially in remote areas, by offering convenient access to pharmaceutical expertise. Moreover, the region's tech-savvy population and the escalating need for efficient healthcare delivery systems further propel the adoption of telepharmacy solutions, positioning Asia Pacific for lucrative growth in remote pharmaceutical services.
Key players in the market
Some of the key players in telepharmacy market include Capsule Technologies, CPS Solutions, LLC, Digital Pharmacist Inc., McKesson Ventures, Medication Review, Inc., Medtel Communications, Omnicell, Inc., PharmaPoint, PioneerRx, Pipeline Healthcare, TelePharm (Cardinal Health), Transaction Data Systems, Inc. and ZipDrug.
Key Developments:
In May 2023, OneroRx is pleased to announce that Community Pharmacy of Dunlap is open to serve residents of Dunlap, Iowa, and its surrounding communities. Community Pharmacy has worked closely with Dunlap Community Development Corporation (DCDC) to bring pharmacy services back to the area.
In July 2022, RxLive, a provider of population health pharmacy solutions, today announced a $5 million Series A funding round. The digital health startup’s round was led by SpringTide, a healthtech-focused venture capital firm, with participation by Cardinal Health™, a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions in health care. RxLive has raised a total of $8 million to date.
Services Covered:
• Drug Therapy Monitoring
• Patient Counselling
• Refill Authorization for Prescription Drugs
• Remote Dispensing
• Other Services
Delivery Modes Covered:
• On-premises
• Cloud-based
• Web-based
Devices Covered:
• Computers
• Smartphones
• Tablets and Kiosk
End Users Covered:
• Primary Care Centers
• Hospitals
• 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 Telepharmacy Market, By Service
5.1 Introduction
5.2 Drug Therapy Monitoring
5.3 Patient Counselling
5.4 Refill Authorization for Prescription Drugs
5.5 Remote Dispensing
5.6 Other Services
6 Global Telepharmacy Market, By Delivery Mode
6.1 Introduction
6.2 On-premises
6.3 Cloud-based
6.4 Web-based
7 Global Telepharmacy Market, By Device
7.1 Introduction
7.2 Computers
7.3 Smartphones
7.4 Tablets and Kiosk
8 Global Telepharmacy Market, By End User
8.1 Introduction
8.2 Primary Care Centers
8.3 Hospitals
8.4 Other End Users
9 Global Telepharmacy 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 Capsule Technologies
11.2 CPS Solutions, LLC
11.3 Digital Pharmacist Inc.
11.4 McKesson Ventures
11.5 Medication Review, Inc.
11.6 Medtel Communications
11.7 Omnicell, Inc.
11.8 PharmaPoint
11.9 PioneerRx
11.10 Pipeline Healthcare
11.11 TelePharm (Cardinal Health)
11.12 Transaction Data Systems, Inc.
11.13 ZipDrug
List of Tables
1 Global Telepharmacy Market Outlook, By Region (2021-2030) ($MN)
2 Global Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
3 Global Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
4 Global Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
5 Global Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
6 Global Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
7 Global Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
8 Global Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
9 Global Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
10 Global Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
11 Global Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
12 Global Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
13 Global Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
14 Global Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
15 Global Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
16 Global Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
17 Global Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
18 Global Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
19 Global Telepharmacy Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America Telepharmacy Market Outlook, By Country (2021-2030) ($MN)
21 North America Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
22 North America Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
23 North America Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
24 North America Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
25 North America Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
26 North America Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
27 North America Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
28 North America Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
29 North America Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
30 North America Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
31 North America Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
32 North America Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
33 North America Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
34 North America Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
35 North America Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
36 North America Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
37 North America Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
38 North America Telepharmacy Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe Telepharmacy Market Outlook, By Country (2021-2030) ($MN)
40 Europe Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
41 Europe Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
42 Europe Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
43 Europe Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
44 Europe Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
45 Europe Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
46 Europe Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
47 Europe Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
48 Europe Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
49 Europe Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
50 Europe Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
51 Europe Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
52 Europe Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
53 Europe Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
54 Europe Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
55 Europe Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
56 Europe Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
57 Europe Telepharmacy Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific Telepharmacy Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
60 Asia Pacific Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
61 Asia Pacific Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
62 Asia Pacific Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
63 Asia Pacific Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
64 Asia Pacific Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
65 Asia Pacific Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
66 Asia Pacific Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
67 Asia Pacific Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
68 Asia Pacific Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
69 Asia Pacific Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
70 Asia Pacific Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
71 Asia Pacific Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
72 Asia Pacific Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
73 Asia Pacific Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
74 Asia Pacific Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
75 Asia Pacific Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
76 Asia Pacific Telepharmacy Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America Telepharmacy Market Outlook, By Country (2021-2030) ($MN)
78 South America Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
79 South America Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
80 South America Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
81 South America Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
82 South America Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
83 South America Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
84 South America Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
85 South America Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
86 South America Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
87 South America Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
88 South America Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
89 South America Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
90 South America Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
91 South America Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
92 South America Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
93 South America Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
94 South America Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
95 South America Telepharmacy Market Outlook, By Other End Users (2021-2030) ($MN)
96 Middle East & Africa Telepharmacy Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Telepharmacy Market Outlook, By Service (2021-2030) ($MN)
98 Middle East & Africa Telepharmacy Market Outlook, By Drug Therapy Monitoring (2021-2030) ($MN)
99 Middle East & Africa Telepharmacy Market Outlook, By Patient Counselling (2021-2030) ($MN)
100 Middle East & Africa Telepharmacy Market Outlook, By Refill Authorization for Prescription Drugs (2021-2030) ($MN)
101 Middle East & Africa Telepharmacy Market Outlook, By Remote Dispensing (2021-2030) ($MN)
102 Middle East & Africa Telepharmacy Market Outlook, By Other Services (2021-2030) ($MN)
103 Middle East & Africa Telepharmacy Market Outlook, By Delivery Mode (2021-2030) ($MN)
104 Middle East & Africa Telepharmacy Market Outlook, By On-premises (2021-2030) ($MN)
105 Middle East & Africa Telepharmacy Market Outlook, By Cloud-based (2021-2030) ($MN)
106 Middle East & Africa Telepharmacy Market Outlook, By Web-based (2021-2030) ($MN)
107 Middle East & Africa Telepharmacy Market Outlook, By Device (2021-2030) ($MN)
108 Middle East & Africa Telepharmacy Market Outlook, By Computers (2021-2030) ($MN)
109 Middle East & Africa Telepharmacy Market Outlook, By Smartphones (2021-2030) ($MN)
110 Middle East & Africa Telepharmacy Market Outlook, By Tablets and Kiosk (2021-2030) ($MN)
111 Middle East & Africa Telepharmacy Market Outlook, By End User (2021-2030) ($MN)
112 Middle East & Africa Telepharmacy Market Outlook, By Primary Care Centers (2021-2030) ($MN)
113 Middle East & Africa Telepharmacy Market Outlook, By Hospitals (2021-2030) ($MN)
114 Middle East & Africa Telepharmacy 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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