Veterinary Telehealth Market
PUBLISHED: 2023 ID: SMRC23677
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Veterinary Telehealth Market

Veterinary Telehealth Market Forecasts to 2030 - Global Analysis By Service Type (Teleconsulting, Telemonitoring and Other Service Types), Animal Type (Canine, Equine, Bovine and Other Animal Types), Application and By Geography

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4.1 (19 reviews)
Published: 2023 ID: SMRC23677

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

2021-2030

Estimated Year Value (2023)

US $177.90 MN

Projected Year Value (2030)

US $601.19 MN

CAGR (2023 - 2030)

19.0%

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 Veterinary Telehealth Market is accounted for $177.90 million in 2023 and is expected to reach $601.19 million by 2030 growing at a CAGR of 19.0% during the forecast period. Healthcare professionals, particularly veterinarians and their employees, have both possibilities and problems as a result of the rapid development of digital communications technology. It's crucial to comprehend basic definitions when you choose whether and how to use telemedicine in your practice. The advantages of telehealth are infinite, giving veterinarians an easy, secure, and speedy approach to diagnose any problems with your pet. Telehealth services may be utilized for a number of purposes, including as guidance for new puppies and kittens, behavioral consultations, dietary suggestions, post-surgical check-ups, allergies, and medication refills, however arranging an in-person appointment is typically necessary for more advanced treatment.

According to World Health Organization (WHO) statistics from 2021, zoonotic diseases cause approximately 1 million cases of illness and deaths each year, and zoonotic diseases cause approximately 60% of emerging infections worldwide.



Market Dynamics:

Driver:

Consumption of animal-derived goods is rising

Farmers are motivated to adopt diagnosis and treatment choices for their animals in order to enhance their earnings by the demand for animal products like milk, poultry, eggs, and meat. Consumers are becoming more aware of the nutritional benefits of animal protein as urbanization rises. Demand for wholesome, environmentally friendly, premium meat products with little to no medication content is also expanding quickly. Thus, it is projected that the worldwide market would be driven by the rising need for healthy animal reproduction. As a result, the increased need for these micronutrients is driving market growth by boosting consumer demand for meat from animals. Producers should be able to create animals immune to the majority of chronic illnesses thanks to technologies like gene editing, which will spur market expansion.

Restraint:

Insufficient uptake of telehealth in developing regions

Developing nations in the Middle East, Africa, Latin America, and Asia Pacific are sluggish to embrace cost-effective and cutting-edge veterinary services. Whether intended for animal or human monitoring environments, large-scale telehealth systems face similar execution challenges such interstate licensing, cost-effectiveness, biocompatibility, market momentum, ethical concerns, diagnostic feasibility, usability, and confidentiality. Increased broadband connectivity is necessary in developing nations like India to provide access to bandwidth-intensive telehealth programs, especially in remote and rural populations are hampering the market.

Opportunity:

Rising prevalence of zoonotic and chronic diseases

Because of the detrimental consequences of climate change and the accelerating pace of globalization, livestock and zoonotic diseases are becoming more common. It is projected that government measures requiring safe medical procedures for farm animals would propel the veterinary telehealth sector. For many governments throughout the world, preventing zoonotic diseases in humans and animals is a top concern. Initiatives are also being made to assist animal producers in educating the public about animal illnesses and how to recognize and treat them. Infected animals can come into touch with ticks, mosquitoes, and fleas, which can spread zoonotic diseases. Typically, ticks carrying the bacteria that cause Lyme disease are to blame. Since these infections may lead to conditions like rabies and Lyme disease, the demand for veterinary telemedicine is expected to rise.

Threat:

Interstate telehealth practice is governed by inconsistent licensing laws

The state-level licensure laws that regulate interstate telehealth practice are not uniform. Moreover, there is a lack of confidence in patients or livestock owners regarding the outcome of e-medicine as no high-tech development can change anything when the end-users don’t want to change. One psychological barrier is the self-consciousness of being on camera or video may be of concern for some veterinarians, livestock owners, and para veterinarians. Such factors result in low adoption of telehealth adoption in developing regions.

Covid-19 Impact

The veterinary telehealth sector is benefiting from the COVID-19 epidemic. During the continuing crisis, veterinarian telemedicine is becoming more popular. For instance, the usage of telemedicine has increased to safeguard and keep tabs on the health of veterinary patients and veterinary teams, according to a 2020 article by the Veterinary Medical Association (AVMA). Additionally, the U.S. Food and Drug Administration (U.S. FDA) announced that it does not intend to enforce certain requirements that may enable veterinarians to better utilize telemedicine to address animal health needs during the pandemic while also offering flexibility across FDA-regulated industries. Additionally, during the epidemic, a number of healthcare institutions started offering telemedicine services.

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

The telemedicine segment is estimated to have a lucrative growth, due to increased internet usage; it is projected that the telemedicine market would expand dramatically. With the use of telemedicine, a veterinarian may digitally transform radiographic, ultrasound, and microscopic pictures and transfer them to a veterinary professional for interpretation without having to leave the comfort of their veterinary institution. Wider usage of veterinary telemedicine services is being facilitated by the increase of internet users. Additionally, a number of service providers are incorporating telemedicine into their offerings. As a result, it is anticipated that such product releases and the use of telemedicine would considerably fuel category growth.

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

The canine segment is anticipated to witness the highest CAGR growth during the forecast period, due to the increased use of telehealth is a result of consumers being more aware of its accessibility and advantages. The common worry of pet owners regarding the general hygiene and health of their animals is also a factor in the market's expansion. Animal healthcare companies, both public and commercial, continually work to increase client understanding of the diagnostic tools available, including in-house analyzers, hematology, clinical chemistry analyzers, and quick lateral flow assays. Dogs are proven to reduce blood pressure and enhance heart health in patients, potentially increasing adoption chances.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the sizeable portion of the market in North America, and it is anticipated that it will continue to dominate over the projection period. This may be linked to elements including high healthcare costs, the dominance of big market competitors, developments in technology, and a rise in disposable income. Additionally, consumers in the United States have been pushed to choose pet insurance due to the desire for pet adoption due to the need for companionship and lifestyle in the area, which has fuelled the use of veterinary telemedicine services.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the ongoing modernization of the healthcare infrastructure; the market for veterinary telehealth is expected to grow over the course of the projected period. The market is expanding as a result of the increasing use of veterinary healthcare facilities and the quickening expansion of manufacturing facilities in developing nations like China and India. For instance, the government of Andhra Pradesh, an Indian state, introduced a veterinary telemedicine program in June 2021.



Key players in the market

Some of the key players profiled in the Veterinary Telehealth Market include GuardianVets, Airvet, TeleVet, FirstVet, VitusVet, TeleTails, Whiskers Worldwide LLC , PetDesk, Petriage Inc, Virtuwoof LLC, Animan Technologies Inc., Petzam, BabelBark, Inc., Activ4Pets, Vetster Inc, PawSquad, Linkyvet, WellHaven Pet Health and Petpro Connect

Key Developments:

In May 2022, Bonum Health, a Digital Healthcare business subsidiary of TRxADE HEALTH, INC. integrated drug procurement, delivery, and healthcare platform, launched Tele-Veterinary services for pets.

In May 2022, Penn Foster, one of the talent development platforms launched a new certification program designed to help veterinary professionals build critical telehealth skills. The curriculum, which is the first-ever accredited training program specifically tailored for remote pet care, will enable current veterinary technicians, assistants, and administrators, to provide cutting-edge virtual care to their patients.

Service Types Covered:
• Teleconsulting
• Telemonitoring
• Telemedicine
• Other Service Types

Animal Types Covered:
• Canine
• Equine
• Bovine
• Feline
• Swine
• Other Animal Types

Applications Covered:
• Computed Tomography (CT) Reporting
• Magnetic Resonance Imaging (MRI) Reporting
• Picture Archiving and Communication System (PACS)
• Radiographic Reporting
• X-Ray
• 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 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
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 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 Veterinary Telehealth Market, By Service Type
5.1 Introduction
5.2 Teleconsulting
5.3 Telemonitoring
5.4 Telemedicine
5.5 Other Service Types

6 Global Veterinary Telehealth Market, By Animal Type
6.1 Introduction
6.2 Canine
6.3 Equine
6.4 Bovine
6.5 Feline
6.6 Swine
6.7 Other Animal Types

7 Global Veterinary Telehealth Market, By Application
7.1 Introduction
7.2 Computed Tomography (CT) Reporting
7.3 Magnetic Resonance Imaging (MRI) Reporting
7.4 Picture Archiving and Communication System (PACS)
7.5 Radiographic Reporting
7.6 X-Ray
7.7 Other Applications

8 Global Veterinary Telehealth 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 GuardianVets
10.2 Airvet
10.3 TeleVet
10.4 FirstVet
10.5 VitusVet
10.6 TeleTails
10.7 Whiskers Worldwide LLC
10.8 PetDesk
10.9 Petriage Inc.
10.10 Virtuwoof LLC
10.11 Animan Technologies Inc.
10.12 Petzam
10.13 BabelBark, Inc.,
10.14 Activ4Pets
10.15 Vetster Inc
10.16 PawSquad
10.17 Linkyvet
10.18 WellHaven Pet Health
10.19 Petpro Connect

List of Tables
1 Global Veterinary Telehealth Market Outlook, By Region (2021-2030) ($MN)
2 Global Veterinary Telehealth Market Outlook, By Service Type (2021-2030) ($MN)
3 Global Veterinary Telehealth Market Outlook, By Teleconsulting (2021-2030) ($MN)
4 Global Veterinary Telehealth Market Outlook, By Telemonitoring (2021-2030) ($MN)
5 Global Veterinary Telehealth Market Outlook, By Telemedicine (2021-2030) ($MN)
6 Global Veterinary Telehealth Market Outlook, By Other Service Types (2021-2030) ($MN)
7 Global Veterinary Telehealth Market Outlook, By Animal Type (2021-2030) ($MN)
8 Global Veterinary Telehealth Market Outlook, By Canine (2021-2030) ($MN)
9 Global Veterinary Telehealth Market Outlook, By Equine (2021-2030) ($MN)
10 Global Veterinary Telehealth Market Outlook, By Bovine (2021-2030) ($MN)
11 Global Veterinary Telehealth Market Outlook, By Feline (2021-2030) ($MN)
12 Global Veterinary Telehealth Market Outlook, By Swine (2021-2030) ($MN)
13 Global Veterinary Telehealth Market Outlook, By Other Animal Types (2021-2030) ($MN)
14 Global Veterinary Telehealth Market Outlook, By Application (2021-2030) ($MN)
15 Global Veterinary Telehealth Market Outlook, By Computed Tomography (CT) Reporting (2021-2030) ($MN)
16 Global Veterinary Telehealth Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
17 Global Veterinary Telehealth Market Outlook, By Picture Archiving and Communication System (PACS) (2021-2030) ($MN)
18 Global Veterinary Telehealth Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
19 Global Veterinary Telehealth Market Outlook, By X-Ray (2021-2030) ($MN)
20 Global Veterinary Telehealth Market Outlook, By Other Applications (2021-2030) ($MN)
21 North America Veterinary Telehealth Market Outlook, By Country (2021-2030) ($MN)
22 North America Veterinary Telehealth Market Outlook, By Service Type (2021-2030) ($MN)
23 North America Veterinary Telehealth Market Outlook, By Teleconsulting (2021-2030) ($MN)
24 North America Veterinary Telehealth Market Outlook, By Telemonitoring (2021-2030) ($MN)
25 North America Veterinary Telehealth Market Outlook, By Telemedicine (2021-2030) ($MN)
26 North America Veterinary Telehealth Market Outlook, By Other Service Types (2021-2030) ($MN)
27 North America Veterinary Telehealth Market Outlook, By Animal Type (2021-2030) ($MN)
28 North America Veterinary Telehealth Market Outlook, By Canine (2021-2030) ($MN)
29 North America Veterinary Telehealth Market Outlook, By Equine (2021-2030) ($MN)
30 North America Veterinary Telehealth Market Outlook, By Bovine (2021-2030) ($MN)
31 North America Veterinary Telehealth Market Outlook, By Feline (2021-2030) ($MN)
32 North America Veterinary Telehealth Market Outlook, By Swine (2021-2030) ($MN)
33 North America Veterinary Telehealth Market Outlook, By Other Animal Types (2021-2030) ($MN)
34 North America Veterinary Telehealth Market Outlook, By Application (2021-2030) ($MN)
35 North America Veterinary Telehealth Market Outlook, By Computed Tomography (CT) Reporting (2021-2030) ($MN)
36 North America Veterinary Telehealth Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
37 North America Veterinary Telehealth Market Outlook, By Picture Archiving and Communication System (PACS) (2021-2030) ($MN)
38 North America Veterinary Telehealth Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
39 North America Veterinary Telehealth Market Outlook, By X-Ray (2021-2030) ($MN)
40 North America Veterinary Telehealth Market Outlook, By Other Applications (2021-2030) ($MN)
41 Europe Veterinary Telehealth Market Outlook, By Country (2021-2030) ($MN)
42 Europe Veterinary Telehealth Market Outlook, By Service Type (2021-2030) ($MN)
43 Europe Veterinary Telehealth Market Outlook, By Teleconsulting (2021-2030) ($MN)
44 Europe Veterinary Telehealth Market Outlook, By Telemonitoring (2021-2030) ($MN)
45 Europe Veterinary Telehealth Market Outlook, By Telemedicine (2021-2030) ($MN)
46 Europe Veterinary Telehealth Market Outlook, By Other Service Types (2021-2030) ($MN)
47 Europe Veterinary Telehealth Market Outlook, By Animal Type (2021-2030) ($MN)
48 Europe Veterinary Telehealth Market Outlook, By Canine (2021-2030) ($MN)
49 Europe Veterinary Telehealth Market Outlook, By Equine (2021-2030) ($MN)
50 Europe Veterinary Telehealth Market Outlook, By Bovine (2021-2030) ($MN)
51 Europe Veterinary Telehealth Market Outlook, By Feline (2021-2030) ($MN)
52 Europe Veterinary Telehealth Market Outlook, By Swine (2021-2030) ($MN)
53 Europe Veterinary Telehealth Market Outlook, By Other Animal Types (2021-2030) ($MN)
54 Europe Veterinary Telehealth Market Outlook, By Application (2021-2030) ($MN)
55 Europe Veterinary Telehealth Market Outlook, By Computed Tomography (CT) Reporting (2021-2030) ($MN)
56 Europe Veterinary Telehealth Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
57 Europe Veterinary Telehealth Market Outlook, By Picture Archiving and Communication System (PACS) (2021-2030) ($MN)
58 Europe Veterinary Telehealth Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
59 Europe Veterinary Telehealth Market Outlook, By X-Ray (2021-2030) ($MN)
60 Europe Veterinary Telehealth Market Outlook, By Other Applications (2021-2030) ($MN)
61 South America Veterinary Telehealth Market Outlook, By Country (2021-2030) ($MN)
62 South America Veterinary Telehealth Market Outlook, By Service Type (2021-2030) ($MN)
63 South America Veterinary Telehealth Market Outlook, By Teleconsulting (2021-2030) ($MN)
64 South America Veterinary Telehealth Market Outlook, By Telemonitoring (2021-2030) ($MN)
65 South America Veterinary Telehealth Market Outlook, By Telemedicine (2021-2030) ($MN)
66 South America Veterinary Telehealth Market Outlook, By Other Service Types (2021-2030) ($MN)
67 South America Veterinary Telehealth Market Outlook, By Animal Type (2021-2030) ($MN)
68 South America Veterinary Telehealth Market Outlook, By Canine (2021-2030) ($MN)
69 South America Veterinary Telehealth Market Outlook, By Equine (2021-2030) ($MN)
70 South America Veterinary Telehealth Market Outlook, By Bovine (2021-2030) ($MN)
71 South America Veterinary Telehealth Market Outlook, By Feline (2021-2030) ($MN)
72 South America Veterinary Telehealth Market Outlook, By Swine (2021-2030) ($MN)
73 South America Veterinary Telehealth Market Outlook, By Other Animal Types (2021-2030) ($MN)
74 South America Veterinary Telehealth Market Outlook, By Application (2021-2030) ($MN)
75 South America Veterinary Telehealth Market Outlook, By Computed Tomography (CT) Reporting (2021-2030) ($MN)
76 South America Veterinary Telehealth Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
77 South America Veterinary Telehealth Market Outlook, By Picture Archiving and Communication System (PACS) (2021-2030) ($MN)
78 South America Veterinary Telehealth Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
79 South America Veterinary Telehealth Market Outlook, By X-Ray (2021-2030) ($MN)
80 South America Veterinary Telehealth Market Outlook, By Other Applications (2021-2030) ($MN)
81 Middle East & Africa Veterinary Telehealth Market Outlook, By Country (2021-2030) ($MN)
82 Middle East & Africa Veterinary Telehealth Market Outlook, By Service Type (2021-2030) ($MN)
83 Middle East & Africa Veterinary Telehealth Market Outlook, By Teleconsulting (2021-2030) ($MN)
84 Middle East & Africa Veterinary Telehealth Market Outlook, By Telemonitoring (2021-2030) ($MN)
85 Middle East & Africa Veterinary Telehealth Market Outlook, By Telemedicine (2021-2030) ($MN)
86 Middle East & Africa Veterinary Telehealth Market Outlook, By Other Service Types (2021-2030) ($MN)
87 Middle East & Africa Veterinary Telehealth Market Outlook, By Animal Type (2021-2030) ($MN)
88 Middle East & Africa Veterinary Telehealth Market Outlook, By Canine (2021-2030) ($MN)
89 Middle East & Africa Veterinary Telehealth Market Outlook, By Equine (2021-2030) ($MN)
90 Middle East & Africa Veterinary Telehealth Market Outlook, By Bovine (2021-2030) ($MN)
91 Middle East & Africa Veterinary Telehealth Market Outlook, By Feline (2021-2030) ($MN)
92 Middle East & Africa Veterinary Telehealth Market Outlook, By Swine (2021-2030) ($MN)
93 Middle East & Africa Veterinary Telehealth Market Outlook, By Other Animal Types (2021-2030) ($MN)
94 Middle East & Africa Veterinary Telehealth Market Outlook, By Application (2021-2030) ($MN)
95 Middle East & Africa Veterinary Telehealth Market Outlook, By Computed Tomography (CT) Reporting (2021-2030) ($MN)
96 Middle East & Africa Veterinary Telehealth Market Outlook, By Magnetic Resonance Imaging (MRI) Reporting (2021-2030) ($MN)
97 Middle East & Africa Veterinary Telehealth Market Outlook, By Picture Archiving and Communication System (PACS) (2021-2030) ($MN)
98 Middle East & Africa Veterinary Telehealth Market Outlook, By Radiographic Reporting (2021-2030) ($MN)
99 Middle East & Africa Veterinary Telehealth Market Outlook, By X-Ray (2021-2030) ($MN)
100 Middle East & Africa Veterinary Telehealth Market Outlook, By Other Applications (2021-2030) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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