Care Management Solutions Market

Care Management Solutions Market Size by Delivery Mode (Web-based, On-Premise and Cloud-based), Component [Services (Managed Services and Professional Service) and Software (Standalone Software and Integrated Care Software)], Application (Utilization Management, Disease Management, Chronic Care Management and Others), End-user [Healthcare Payers, Healthcare Providers (Hospitals, Clinics and Ambulatory Care Centres) and Others], Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13415
  • Published Date: Apr, 2023
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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The global care management solutions market is expected to grow from USD 12.05 billion in 2022 to USD 40.61 billion by 2032, at a CAGR of 12.92% during the forecast period 2023-2032. North America dominated the market in 2022.

Market Introduction:

Care management refers to all of the actions taken to enhance the standard of care by assisting medical professionals and other carers in better-controlling patients' medical problems. The administrative tasks involved in managing care, such as making appointments, accessing and sharing reports, creating care plans, involving patients in the process, scheduling tests, giving treatments, etc., are streamlined and digitalized by care management software solutions. In other words, to better coordinate clinical activities and provide the most excellent care for each patient, a doctor or group of doctors might use care management systems. Care management effectively lowers hospital visits as it helps with the careful coordination of the healthcare provider team treating patients. Primary care providers, clinicians, patients, doctors, and behavioural health specialists, are all components of the care management solution.

Care Management Solutions Market Size

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Market Dynamics:

Drivers:

Increasing use of care management solutions

The most effective care management programmes optimize the relationships between care managers, members, and providers. As a result, more effective healthcare interventions, higher-calibre care, and lower costs are achieved using care management solutions. Although achieving these objectives can be challenging, doing so with a care management solution is attainable if many procedures are integrated and automated through the software. With the help of these technologies, care management is transformed into an automated, data-driven process that produces more specialized wellness programmes and successful health information. Thus, due to such attributes, the demand for care management solutions has increased among the end-users.

Restraints:

High cost of software installation– Care management solutions are capital-intensive and have a high maintenance cost. These care management solutions require regular maintenance to operate efficiently. Many mid-scale and small-scale end-users cannot invest in care management software due to the high installation cost.

Opportunities:

Increasing investment in healthcare AI– Healthcare delivery is changing due to investment in artificial intelligence. Many research organizations have claimed that advancements the care management solutions can lead to efficient treatment outcomes, higher patient satisfaction, and extensive accessibility to healthcare services. AI can assist healthcare professionals in having a better experience, allowing them to spend more time providing direct patient care and lowering burnout. Healthcare industry procedures will likely undergo a transformation fueled by disruptive technologies like artificial intelligence. Increased successful AI-use cases in the healthcare sector support growing confidence in AI.

Challenges:

Stringent regulations for product approval– Care management solutions are used in crucial applications such as disease management, chronic care management, etc. Also, the operability of the software should follow data privacy laws. The care management solutions must pass strict regulations of the concerned regional agencies. The care management software should adhere to the given regulations to be launched in the market.

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 most significant global care management solutions market, with a revenue share of 48.20% in 2022. The region has a high market growth rate due to the presence of advanced healthcare institutions and governing agencies. Many investments in the healthcare IT industry will drive the North American care management solutions market. The increased support from the federal government in improving the quality of healthcare services leads to higher adoption of care management solutions among the end-users. The Asia-Pacific region is anticipated to grow lucratively during the forecast period. Many countries in the region are witnessing economic development in their healthcare sector. Increasing investments by the regional government are boosting the growth of care management solutions. Many players are launching their products in Asia-Pacific due to the high adoption rate in countries such as China, Japan, India, and South Korea.

North America Region Care Management Solutions Market Share in 2022 - 48.20%

 

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Delivery Mode Segment Analysis

The delivery mode segment is divided into web-based, on-premise and cloud-based. The cloud-based segment dominated the market with a revenue share of 43.91% in 2022. Cloud care management solutions help in the remote monitoring of patients. The end-users prefer using cloud-based software as it is inexpensive compared to the other available software. The maintenance cost is also low, and they can even improve their access to information.

Component Segment Analysis

The component segment includes services and software. The services segment further includes managed services and professional services. The software segment further includes standalone software and integrated care software. The software segment dominated the market with a revenue share of 59.21% in 2022. Software is used in various disease management applications owing to its attributes and ease of use. The software helps provide efficient patient care and maintains a centralized database.

Application Segment Analysis

The application segment includes utilization management, disease management, chronic care management and others. The disease management segment dominated the market with a revenue share of 42.03% in 2022. Care management solutions are used in disease management solutions that track patients involved in various medical and health conditions. It includes regular check-ups, runs, health exam reminders, management of chronic illnesses and interim case management.

End-user Segment Analysis

The end-user segment includes healthcare payers, healthcare providers and others. The healthcare providers segment further includes hospitals, clinics and ambulatory care centres. The healthcare providers segment dominated the market with a revenue share of 43.55% in 2022. Healthcare providers adopt care management solutions for maintaining a centralized database and easing out patient handling solutions.

Some of the Key Market Players:
  • Medecision
  • Casenet LLC
  • Cognizant
  • ZeOmega
  • Cerner Corporation
  • Epic Systems Corporation
  • Athenahealth, Inc.
  • Allscripts Healthcare, LLC
  • Koninklijke Philips N.V.
  • Health Catalyst
  • IBM Corporation
  • General Electric
  • i2i Systems
  • McKesson Corporation
  • Pegasystems Inc.
  • Ergomed plc

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 12.05 Billion
Market size value in 2032 USD 40.61 Billion
CAGR (2023 to 2032) 12.92%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments The research segment is based on delivery mode, component, application, and end-user.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the care management solutions market was valued USD 12.05 billion in 2022 to USD 40.61 billion by 2032.

Global care management solutions market is growing at a CAGR of 12.92% during the forecast period 2023-2032.

North America region emerged as the largest market for the care management solutions.

The market's growth will be influenced by the growing usage of care management solutions among end-users.

The high cost of installation could hamper the market growth.

The increasing investment in healthcare AI industry is providing huge opportunities to the 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 Delivery Mode
          4.3.2. Market Attractiveness Analysis by Component
          4.3.3. Market Attractiveness Analysis by Application
          4.3.4. Market Attractiveness Analysis by End-user
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing use of care management solutions in various end-user
    5.3. Restraints
          5.3.1. High cost of installation
    5.4. Opportunities
          5.4.1. Increasing investment in healthcare AI industry
    5.5. Challenges
          5.5.1. Stringent regulations for approval

6. Global Care Management Solutions Market Analysis and Forecast, By Delivery Mode
    6.1. Segment Overview
    6.2. Web-based
    6.3. On-Premise
    6.4. Cloud-based

7. Global Care Management Solutions Market Analysis and Forecast, By Component
    7.1. Segment Overview
    7.2. Services
          7.2.1. Managed Services
          7.2.2. Professional Service
    7.3. Software
          7.3.1. Standalone Software
          7.3.2. Integrated Care Software

8. Global Care Management Solutions Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Utilization Management
    8.3. Disease Management
    8.4. Chronic Care Management
    8.5. Others

9. Global Care Management Solutions Market Analysis and Forecast, By End-user
    9.1. Segment Overview
    9.2. Healthcare Payers
    9.3. Healthcare Providers
          9.3.1. Hospitals
          9.3.2. Clinics
          9.3.3. Ambulatory Care Centres
    9.4. Others

10. Global Care Management Solutions Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Care Management Solutions Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Care Management Solutions Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Medecision
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. Casenet LLC
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Cognizant
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. ZeOmega
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. Cerner Corporation
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Epic Systems Corporation
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. Athenahealth, Inc.
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Allscripts Healthcare, LLC
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Koninklijke Philips N.V.
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. Health Catalyst
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
    12.11. IBM Corporation
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Product Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
    12.12. General Electric
          12.12.1. Business Overview
          12.12.2. Company Snapshot
          12.12.3. Company Market Share Analysis
          12.12.4. Company Product Portfolio
          12.12.5. Recent Developments
          12.12.6. SWOT Analysis
    12.13. i2i Systems
          12.13.1. Business Overview
          12.13.2. Company Snapshot
          12.13.3. Company Market Share Analysis
          12.13.4. Company Product Portfolio
          12.13.5. Recent Developments
          12.13.6. SWOT Analysis
    12.14. McKesson Corporation
          12.14.1. Business Overview
          12.14.2. Company Snapshot
          12.14.3. Company Market Share Analysis
          12.14.4. Company Product Portfolio
          12.14.5. Recent Developments
          12.14.6. SWOT Analysis
    12.15. Pegasystems Inc.
          12.15.1. Business Overview
          12.15.2. Company Snapshot
          12.15.3. Company Market Share Analysis
          12.15.4. Company Product Portfolio
          12.15.5. Recent Developments
          12.15.6. SWOT Analysis
    12.16. Ergomed plc
          12.16.1. Business Overview
          12.16.2. Company Snapshot
          12.16.3. Company Market Share Analysis
          12.16.4. Company Product Portfolio
          12.16.5. Recent Developments
          12.16.6. SWOT Analysis

List of Table

1. Global Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

2. Global Web-based, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

3. Global On-Premise, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

4. Global Cloud-based, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

5. Global Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

6. Global Services, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

7. Global Software, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

8. Global Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

9. Global Utilization Management, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

10. Global Disease Management, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

11. Global Chronic Care Management, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

12. Global Others, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

13. Global Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

14. Global Healthcare Payers, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

15. Global Healthcare Providers, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

16. Global Others, Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

17. Global Care Management Solutions Market, By Region, 2019-2032 (USD Billion) 

18. North America Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

19. North America Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

20. North America Care Management Solutions Market, By Application, 2019-2032 (USD Billion)

21. North America Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

22. U.S. Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

23. U.S. Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

24. U.S. Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

25. U.S. Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

26. Canada Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

27. Canada Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

28. Canada Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

29. Canada Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

30. Mexico Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

31. Mexico Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

32. Mexico Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

33. Mexico Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

34. Europe Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

35. Europe Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

36. Europe Care Management Solutions Market, By Application, 2019-2032 (USD Billion)

37. Europe Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

38. Germany Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

39. Germany Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

40. Germany Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

41. Germany Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

42. France Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

43. France Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

44. France Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

45. France Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

46. U.K. Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

47. U.K. Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

48. U.K. Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

49. U.K. Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

50. Italy Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

51. Italy Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

52. Italy Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

53. Italy Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

54. Spain Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

55. Spain Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

56. Spain Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

57. Spain Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

58. Asia Pacific Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

59. Asia Pacific Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

60. Asia Pacific Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

61. Asia Pacific Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

62. Japan Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

63. Japan Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

64. Japan Care Management Solutions Market, By Application, 2019-2032 (USD Billion)

65. Japan Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

66. China Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

67. China Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

68. China Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

69. China Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

70. India Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

71. India Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

72. India Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

73. India Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

74. South America Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

75. South America Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

76. South America Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

77. South America Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

78. Brazil Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

79. Brazil Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

80. Brazil Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

81. BrazilCare Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

82. Middle East and Africa Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

83. Middle East and Africa Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

84. Middle East and Africa Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

85. Middle East and Africa Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

86. UAE Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

87. UAE Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

88. UAE Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

89. UAE Care Management Solutions Market, By End-user, 2019-2032 (USD Billion) 

90. South Africa Care Management Solutions Market, By Delivery Mode, 2019-2032 (USD Billion) 

91. South Africa Care Management Solutions Market, By Component, 2019-2032 (USD Billion) 

92. South Africa Care Management Solutions Market, By Application, 2019-2032 (USD Billion) 

93. South Africa Care Management Solutions Market, By End-user, 2019-2032 (USD Billion)  

List of Figures

1. Global Care Management Solutions Market Segmentation

2. Care Management Solutions 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 Care Management Solutions Market Attractiveness Analysis by Delivery Mode

9. Global Care Management Solutions Market Attractiveness Analysis by Component

10. Global Care Management Solutions Market Attractiveness Analysis by Application

11. Global Care Management Solutions Market Attractiveness Analysis by End-user

12. Global Care Management Solutions Market Attractiveness Analysis by Region

13. Global Care Management Solutions Market: Dynamics

14. Global Care Management Solutions Market Share by Delivery Mode (2022 & 2032)

15. Global Care Management Solutions Market Share by Component (2022 & 2032)

16. Global Care Management Solutions Market Share by Application (2022 & 2032)

17. Global Care Management Solutions Market Share by End-user (2022 & 2032)

18. Global Care Management Solutions Market Share by Regions (2022 & 2032)

19. Global Care Management Solutions Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global care management solutions market based on below mentioned segments:

Global Care Management Solutions Market by Delivery Mode:

  • Web-based
  • On-Premise
  • Cloud-based

Global Care Management Solutions Market by Component:

  • Services
    • Managed Services
    • Professional Service
  • Software
    • Standalone Software
    • Integrated Care Software

Global Care Management Solutions Market by Application:

  • Utilization Management
  • Disease Management
  • Chronic Care Management
  • Others

Global Care Management Solutions Market by End-user:

  • Healthcare Payers
  • Healthcare Providers
    • Hospitals
    • Clinics
    • Ambulatory Care Centres
  • Others

Global Care Management Solutions 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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