Acne Treatment Market

Acne Treatment Market Size by Product Type (Antibiotics, Isotretinoin, Retinoids, and Others), Route of Administration (Topical, Injectable, and Oral), End User (Hospitals, Specialty Centers, and Skincare Clinics), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13265
  • Published Date: Jan, 2023
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global acne treatment market was valued at USD 9.39 billion in 2022 and growing at a CAGR of 4.90% from 2022 to 2030. The market is expected to reach USD 13.76 billion by 2030. Market growth is mainly pushed by factors like the quick rise in the young population, the rising demand for personal health and soft, spotless skin due to the high psychological burden related to acne, the rise in the launch of new acne products, the increasing need for hormonal therapy for acne treatment, and the existence of synthetic chemicals in different skin care products. In expansion, growing consumer choice towards new organic products and low prices of acne treatment are additional factors pushing revenue growth of the market over the projection years.

Market Introduction:

Acne is a common skin condition where the pores of the skin become clogged by bacteria, sebum (an oily substance), hair, and dead skin cells. Those blockages create whiteheads, nodules, blackheads, and other pimples. It comes under the most common skin disease that people experience. Approximately 85% of individuals ages 12 to 32 will have at least a mild form of acne, and most individuals are affected by it at some point in their lives. The most common areas for acne are the forehead, face, chest, shoulders, and upper back. Oil glands are all over the body, but those are the places where there are the most. The best way to treat acne depends on how intense it is. Acne can be soft with occasional moderate (inflammatory papules), pimples, or severe (nodules and cysts). Acne treatment depends on how severe it is. It can take several months of treatment before acne symptoms improve. If someone has a few whiteheads, blackheads, and spots, a pharmacist should be able to suggest how to treat them successfully with over-the-counter gels or creams (topical treatments) that include benzoyl peroxide. For mild to moderate or moderate to severe acne, that is usually formed on a mixture of topical treatments, or antibiotic tablets and then mixed with topical treatments. Hormonal therapies or the combined oral contraceptive pill can also be effective in women having acne issues. Many of these treatments can take 2 to 3 months before they start to work. Be patient and continue with the recommended treatment, even if there's no immediate effect.

Acne Treatment Market Size

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Recent Development

In June 2020: Bausch Health Companies Inc. founded ARAZLO lotion in the United States for patients nine years of age and older suffering from acne vulgaris.

In June 2021, Almirall declared the launch of Seysara, a novel tetracycline-derived oral antibiotic and the first to be designed particularly for treating acne. The product is commercially founded in the United States market.

In January 2022: Galderma S.A. concluded its purchase of ALASTIN Skincare, Inc. after receiving an antitrust clearance from federal authorities of the U.S. Rising consumer interest and increasing popularity of aesthetic skin care procedures had led to an advancement in demand for valuable products.

Market Dynamics:

Drivers

Growing cases of acne vulgaris- Acne vulgaris is a common condition of skin impacting around 9.5% of the global population, with a high number of youngsters. It impacts over 95% of males and 85% of females in all racial groups. As per the American Academy of Dermatology Association (AADA), acne is the most familiar skin disease in the United States, impacting 55 million Americans yearly. It also said that around 86% of people under the age cluster of 14 and 30 experience acne. Once there is a peak in the androgen (estrogen, in women) levels during puberty, it starts the beginning of the condition by broadening oil glands under the skin.

Restraints:

The products safety concerns - The adverse effects of acne treatments vary depending on the procedure's selection and the medication's power. The most familiar side effects of topical acne medicines are skin irritation and dryness. The possible complication of oral drugs can be more severe. Antibiotics can make the stomach upset or cause patients to be light-headed and dizzy. Moreover, oral isotretinoin can cause extreme side effects, mainly if the person is pregnant. Severe congenital disabilities have been noted in infants whose moms took isotretinoin in the pregnancy period. The drug can also boost the chance of suicidal thoughts and depression and impact liver functioning and cholesterol levels. The safety concerns about acne treatment products are anticipated to hinder market development.

Opportunities:

Rising awareness about current and new acne treatment- Worldwide, the need for minimally invasive cosmetic treatment techniques is growing enormously. Dermatologists treat skin issues using less invasive or topical procedures instead of surgical procedures. More knowledge about the process, well-documented policies and better patient-doctor relationships are boosting the need for treatments for face and skin-related issues which has been pushing the use of less painful aesthetic combination therapy techniques.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global acne treatment market, with a 35.9% share of the market revenue in 2022.

North America will hold the largest acne treatment market share during the projection years owing to the region's increasing majority of acne and growing consumer problems related to beauty. Further, launching new products by major regional players and a substantial patient population rise will boost the market's growth. Similarly, Europe will witness a vital market share in terms of global contribution due to the region's rising patient pool and increasing investment in research and development used for treating dermatology problems. The increasing adoption of cutting-edge treatments and solutions will propel the market share to a higher volume.

North America Region Acne Treatment Market Share in 2022 - 35.9%

 

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Product Type Segment Analysis

The product type segment is divided into antibiotics, isotretinoin, retinoids, and others. The retinoid segment dominated the market, with a market share of around 26% in 2022. Retinoids have become a widespread practice among individuals to draw excessive oil secretions and dust clogged in the open pores of the skin. The procedure is considered secure and has negligible side effects, making it a significant market segment.

Route of Administration Segment Analysis

The route of administration segment is divided into topical, injectable, and oral. The topical segment dominated the market, with a market share of around 36% in 2022. The topical segment is noted to dominate the market across the projection years due to the rising number of firms manufacturing topical solutions for acne treatment  the reason being the patient is primarily captivated by topical solutions as these products are readily available and comfortable.

End User Segment Analysis

The end user segment is divided into hospitals, specialty centers, and skincare clinics. The skincare clinics segment dominated the market, with a market share of around 38% in 2022. The skin care clinics segment is anticipated to notice a fast growth rate over the projection years. People living in Tier 1 cities are undergoing severe skin problems owing to constant vulnerability to pollution, dust, and additional conditions, like performing in an air-conditioned atmosphere.

Some of the Key Market Players:
  • Almirall S.A.
  • Bausch Health Companies Inc.
  • Bayer AG
  • Cutera Inc.
  • Galderma Laboratories
  • GlaxoSmithKline plc.
  • Hoffman La Roche Ltd
  • Johnson & Johnson Services Inc
  • Lumenis Ltd
  • Pfizer Inc.
  • Teva Pharmaceutical Industries Ltd.
  • Valeant Pharmaceutical International, Inc.
  • Vyne Therapeutics Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 9.39 Billion
Market size value in 2030 USD 13.76 Billion
CAGR (2022 to 2030) 4.90%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Regional Segments The regions analyzed for the market are North America, Asia Pacific, Europe, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Product Type, Route of Administration, End-User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the acne treatment market was valued at USD 9.39 billion in 2022 to USD 13.76 billion by 2030.

Global acne treatment market is growing at a CAGR of 4.90% during the forecast period 2022-2030.

North America region emerged as the largest market for the acne treatment market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Route of Administration
          4.3.3. Market Attractiveness Analysis by End-User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Growing cases of acne vulgaris
    5.3. Restraints
          5.3.1. Safety concerns about the products to restrict the market
    5.4. Opportunities
          5.4.1. Rising awareness about current and new acne treatment

6. Global Acne Treatment Market Analysis and Forecast, By Product Type:
    6.1. Segment Overview
    6.2. Antibiotics
    6.3. Isotretinoin
    6.4. Retinoids
    6.5. Others

7. Global Acne Treatment Market Analysis and Forecast, By Route of Administration
    7.1. Segment Overview
    7.2. Topical
    7.3. Injectable
    7.4. Oral

8. Global Acne Treatment Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Hospitals
    8.3. Specialty Centers
    8.4. Skincare clinics

9. Global Acne Treatment Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Acne Treatment Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Acne Treatment Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Almirall S.A.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Bausch Health Companies Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Bayer AG
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Cutera Inc
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Galderma Laboratories
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. GlaxoSmithKline plc
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Hoffman La Roche Ltd
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Johnson & Johnson Services Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Lumenis Ltd
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Pfizer Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Teva Pharmaceutical Industries Ltd.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Valeant Pharmaceutical International, Inc.
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Vyne Therapeutics Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
 

List of Table

1. Global Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Antibiotics Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

3. Global Isotretinoin Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

4. Global Retinoids Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

5. Global Others Market, By Region, 2019-2030 (USD Billion) 

6. Global Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

7. Global Topical Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

8. Global Injectable Acne Treatment Market, By Region, 2019-2030 (USD Billion)

9. Global Oral Acne Treatment Market, By Region, 2019-2030 (USD Billion)

10. Global Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

11. Global Hospitals Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

12. Global Specialty Centers Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

13. Global Skincare Clinics Acne Treatment Market, By Region, 2019-2030 (USD Billion) 

14. North America Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

15. North America Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

16. North America Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

17. U.S. Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

18. U.S. Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

19. U.S. Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

20. Canada Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

21. Canada Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

22. Canada Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

23. Mexico Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

24. Mexico Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

25. Mexico Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

26. Europe Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

27. Europe Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

28. Europe Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

29. Germany Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

30. Germany Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

31. Germany Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

32. France Acne Treatment Market, By Product Type 2019-2030 (USD Billion) 

33. France Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

34. France Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

35. U.K. Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

36. U.K. Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

37. U.K. Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

38. Italy Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

39. Italy Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

40. Italy Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

41. Spain Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

42. Spain Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

43. Spain Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

44. Asia Pacific Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

45. Asia Pacific Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

46. Asia Pacific Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

47. Japan Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

48. Japan Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

49. Japan Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

50. China Acne Treatment Market, By Product Type 2019-2030 (USD Billion) 

51. China Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

52. China Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

53. India Acne Treatment Market, By Product Type 2019-2030 (USD Billion) 

54. India Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

55. India Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

56. South America Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

57. South America Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

58. South America Acne Treatment Market, By End-User, 2019-2030 (USD Billion)

59. Brazil Acne Treatment Market, By Product Type 2019-2030 (USD Billion) 

60. Brazil Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

61. Brazil Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

62. Middle East and Africa Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

63. Middle East and Africa Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

64. Middle East and Africa Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

65. UAE Acne Treatment Market, By Product Type, 2019-2030 (USD Billion) 

66. UAE Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

67. UAE Acne Treatment Market, By End-User, 2019-2030 (USD Billion) 

68. South Africa Acne Treatment Market, By Product Type 2019-2030 (USD Billion) 

69. South Africa Acne Treatment Market, By Route of Administration, 2019-2030 (USD Billion) 

70. South Africa Acne Treatment Market, By End-User, 2019-2030 (USD Billion)  

List of Figures 

1. Global Acne Treatment Market Segmentation

2. Acne Treatment Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Acne Treatment Market Attractiveness Analysis by Product Type 

9. Global Acne Treatment Market Attractiveness Analysis by Route of Administration

10. Global Acne Treatment Market Attractiveness Analysis by End-User 

11. Global Acne Treatment Market Attractiveness Analysis by Region

12. Global Acne Treatment Market: Dynamics

13. Global Acne Treatment Market Share by Product Type (2022 & 2030)

14. Global Acne Treatment Market Share by Route of Administration (2022 & 2030)

15. Global Acne Treatment Market Share by End-User (2022 & 2030)

16. Global Acne Treatment Market Share by Regions (2022 & 2030)

17. Global Acne Treatment Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global acne treatment market based on below mentioned segments:

Global Acne Treatment Market Product Type:

  • Antibiotics
  • Isotretinoin
  • Retinoids
  • Others

Global Acne Treatment Market Route of Administration:

  • Topical
  • Injectable
  • Oral

Global Acne Treatment Market End-User

  • Hospitals
  • Specialty Centers
  • Skincare clinics

Global Acne Treatment Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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