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Computational Biology Market

Computational biology Market Size by Service (In-house, Contract), Application (Cellular & Biology Simulation, Drug Discovery and Disease Modeling, Pre-clinical Drug Development, Clinical trials, Human Body Simulation Software), End-user (Academics, Industry, Commercial), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2030

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12501
  • Published Date: Oct, 2021
  • Pages: 215
  • Category: Healthcare
  • Format: PDF
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The global computational biology market is expected to grow from USD 2.96 billion in 2020 to USD 34.87 billion by 2030, at a CAGR of 22.7% during the forecast period 2021-2030. Global computational biology market is witnessing a considerable growth owing to the increasing number of clinical studies in pharmacogenomics and pharmacokinetics all across the globe.

Market Overview:

Computational biology engages with the advancement and application of theoretical methods along with the implementation of data analysis and their models. The computational biology involves with the computational simulation methods along with the mathematical modelling to analyze the behavioral, ecological, biological, and social systems. The field of computational biology is generally includes foundations in applied mathematics, biology, computer science, biochemistry, biophysics, statistics, chemistry, genomics, molecular biology, genetics, and evolution. Computational biology is totally different in comparison to biological computing. Biological computing is a sub category of computer engineering and computer science which utilizes biology and bioengineering to build computers which is similar to bioinformatics. Computational biology comprises many aspects of bioinformatics, is the science that utilizes biological data to develop data algorithms and analytical models to understand relationships and biological systems. Back in the previous two decades, biologists didn’t have the access to this kind of the data and information. But in the present scenario, researchers and biologists have this kind of data and it’s available particularly in genomics and molecular biology. In recent times, researchers are able to develop the statistical and analytical models in order to interpret biological information.

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Market Dynamics:

Drivers:
  • Increasing Number of the Bioinformatics Research

The rise in number of the bioinformatics researches is the primary factor for the market growth and development in the present scenario. Bioinformatics is the subfield of bio-engineering which formulates the analytical methods along with software tools for understanding biological data. Bioinformatics combines computer science, biology, information engineering, statistics and mathematics to analyze and interpret biological data. Bioinformatics has been utilized for in silico analyses for biological queries using statistical and mathematical techniques. The emergence and advancements related to bioinformatics research fieldare related with the software developments and computerized programming that are needed for the handling and functional & structural analysis of large volumes of molecular sequences of RNA, DNA, metabolites and proteins.

  • Increasing Number of Clinical Studies in Pharmacogenomics

Pharmacogenomics holds the potential of utilizing genetic fingerprints to foresee different responses of an individual to pharmaceutical drugs in terms of efficacy, reliability, and pharmacokinetics. Early-phase clinical trial pharmacogenomics applications can recognize human genome variations that are meaningful and valuable to study selection of participants, and design models for clinical research studies.  This is because genetic polymorphisms associated with the pharmacogenomics helps in metabolizing enzymes and drug transporters. This has shown to have significant impact with the exposure of drugs as they have a high dependence on a single mechanism for their distribution or clearance, absorption, such that genotyping can lead to actionable steps in disease treatment. Thus, this factor may drive the growth and development of the market in the recent scenario.

Restraints:
  • Lack of Skilled Professionals

The global computational biology market growth is however, restrained because of lack of skilled professionals. In the last decade, life-science research has become progressively computational and data-intensive. However, basic bioinformatics and data stewardship are still only rarely taught in life-science degree programs creating a wide skills gap that spans educational levels and career roles. Thus, this factor is going to have a negative impact on the developmental growth of the market.

Opportunities:
  • Rise in contract research services

The rise in the contract research services is going to provide potential opportunities for market growth and development in future. The rise in contract based services in medical and healthcare is the key trend perceived in this industry. Computational biology requires high end technologies, which is not a core competency of every life-sciences or pharmaceutical organization. Additionally, the cost and affordability associated with these technologies is currently an issue for the major pharmaceutical organizations. Therefore, for several pharmaceutical players and life-science organizations are outsourcing the technologies and their advancements in of computational biology.

Challenges:
  • Lack of standardization

Lack of standardization and its issues may pose a serious threat for the market growth and development. On the technical side there are computational challenges and biological challenges associated with computational biology. Firstly is the massive volume of data that must be processed, stored, checked and validated, prior to any analysis. Then with analysis, any pharmaceutical and life-science organizations must have huge resources which can vigorously handle large pipelines with very large files. Cost balancing local and cloud resources is definitely a challenge to optimize. Thus, this factor is going to pose a challenge.

Segmentation Analysis:

The global computational biology market has been segmented based on service, application, end-user and regions.

  • The service segment is divided into contract and in-house. The contract segment dominated the global computational biology market with the market share of around 53% in 2020. The segmental growth is attributed to the fact that contract services are less expensive as compared to the in-house services. These contract based services increase the computational capabilities by eradicating considerable waste in the research enterprises. With the recent technological advancements in cloud computing and other IT technologies, contract services are projected to have the highest growth.
  • The application segment includes cellular & biology simulation, drug discovery and disease modeling, pre-clinical drug development, clinical trials, human body simulation software. The cellular and biological simulation segment dominated the market with a market share around 35% in 2020. The segment growth is attributed because computational cell modelling and biological simulation aids in decrypting the physiological and biological functions of cells. The rise in unmet medical needs coupled with the growing demand for personalized medicine are expected to fuel the segmental growth.
  • By end-user, the market is segmented into academics, industry and commercial. The academics segment is going to have the highest growth during the forecast period. The segment growth is mainly attributed owing to the increase in the drug designing, bioinformatics research, and usage in personalized medicine in academics and research institutions.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.North America region emerged as the largest market for the computational biology market with around 59% share of the market revenue in 2020.

  • The regional growth is attributed due to the strong government initiatives and funding activities for genetic-based studies coupled with the rise in public-private partnerships in and across the region. Additionally the industry-academia collaborations are predicted to indulgence the regional growth during the forecast period.
  • The market in the Asia Pacific is expected to grow at the highest CAGR over the forecast period owing to the foreign investments and government-funded population-based studies.

North America Computational Biology Market Share in 2020- 59%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global computational industry.

In August 2018, the European Union and India’s Department of Biotechnology (DBT) announced the fund of USD 17.2 million towards research and innovation for the development of next-generation influenza virus to protect individuals globally.

In February 2019, StemoniX Inc., an organization known for providing products and offering services for drug discovery and development, received USD 14.40 million funding from a group of investors. The organization is based on U.S. In order to speed up the drug development and discovery process, the funding was initiated by the investors.

List of Key Market Players:

  • Accelrys
  • Certara
  • Chemical Computing Group Inc
  • Compugen Ltd
  • Entelos
  • Genedata Ag
  • Insilico Biotechnology Ag
  • LeadscopeInc
  • Nimbus Discovery Llc
  • RhenoviaPharma Sa
  • Schrodinger
  • Simulation Plus Inc.

Key Target Audience

  • Pharmaceutical companies
  • Research and Development (R&D) Companies
  • Government Research Laboratories
  • Government Authorities And R&D Institutions
  • Academic & Medical Research Institutions
  • Investors

Report Description:

  • Global computational biology market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2030 are the forecast years. The global computational biology market is based on revenue (USD Billion). The report incorporates the market studyon the basis of revenue. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global computational biology market.
  • The regions analyzed for the market are Europe, Asia Pacific, North America, South Americaand Middle East &Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data &information, which have been validated bythe leading industry professionals and experts all across the globe. The research report alsodelivers an outline of the attractiveness of computational biology on the basis of service, application, end-user and regions which are deduced andformulated on the basis of their growth rate (CAGR), market size, and attractiveness byanalyzing the present and future prospects to fathom market growth and development infuture.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historicaldata, revenues, key developments, along with the crucial strategies adopted by keyorganizations catering to global computational biology market. This offers vital and in depth insights in order todepict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operatingin the global computational biology market and a comparative assessment based on their product offering,business overviews, geographic presence, business strategies, segment market share,product development &innovations, recent developments, joint venture, partnerships, mergers &acquisitions, strategic alliances, SWOT analysis, and key financial information.This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupledwith SWOT analysis so as to provide business related data and information’s. Porter’s fiveforces model is analyzed to understand the overall competitive scenario that is prevailing inthe market. Additionally, the SWOT analysis identifies both the positive and negativeattributes of the market development which influences the company growth anddevelopment in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growthlimitations (restraints), potential industry opportunities, significant trends and developmentwhich acts as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the products (marketrelated i.e., global computational biology market) is covered in order to comprehend the adoption rate andevaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the computational biology market was valued at USD 2.96 billion in 2020 to USD 34.87 billion by 2030.

Global computational biology market is growing at a CAGR of 22.7% during the forecast period 2021-2030.

The global computational biology market has been segmented based on service, application, end-user and regions. The contract segment is going to dominate the market share in 2020.

The North America region emerged as the largest market for the computational biology.

Increasing number of the bioinformatics research is the key driving factor for the computational biology market.

Lack of skilled professionals could hamper the market growth.

Rise in contract research services will provide huge opportunities to the market.

Key players are Accelrys, Certara, Chemical Computing Group Inc, Compugen Ltd, Entelos, Genedata Ag, Insilico Biotechnology Ag, LeadscopeInc

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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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 Service
          4.3.2. Market Attractiveness Analysis By Application
          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. Increasing number of the bioinformatics research
          5.2.2. Increasing number of clinical studies in pharmacogenomics
    5.3. Restrains
          5.3.1. Lack of skilled professionals
    5.4. Opportunities
          5.4.1. Rise in contract research services
    5.5. Challenges
          5.5.1. Lack of standardization

6. Global Computational biology Market Analysis and Forecast, By Service
    6.1. Segment Overview
    6.2. In-house
    6.3. Contract

7. Global Computational biology Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Cellular & Biology Simulation
          7.2.1. Computational Genomics
                   7.2.1.1. Database
                   7.2.1.2. Infrastructure / Hardware
                   7.2.1.3. Software & Services
          7.2.2. Computational Proteomics
                   7.2.2.1. Pharmacogenomics
                   7.2.2.2. Others
    7.3. Drug discovery and disease modelling
          7.3.1. Target identification
          7.3.2. Target Validation
          7.3.3. Lead Discovery
          7.3.4. Lead Optimization
    7.4. Pre-clinical drug development
          7.4.1. Pharmacokinetics
          7.4.2. Pharmacodynamics
    7.5. Clinical trials
          7.5.1. Phase I
          7.5.2. Phase II
          7.5.3. Phase III
    7.6. Human Body Simulation Software

8. Global Computational biology MarketAnalysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Academics
    8.3. Industrial
    8.4. Commercial

9. Global Computational biology MarketAnalysis 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 Computational biology Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in GlobalComputational biology 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. Accelrys
          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. Certara
          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. Chemical Computing Group Inc
          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. Compugen Ltd
          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. Entelos
          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. Genedata Ag
          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. Insilico Biotechnology Ag
          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. Leadscope 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. Nimbus Discovery Llc
          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. Rhenovia Pharma Sa
          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. Schrodinger
          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. Simulation Plus 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
 

List of Table

1. Global Computational biology Market, By Service, 2018–2030 (USD Billion)

2. Global In-house Computational biology Market, By Region, 2018–2030 (USD Billion)

3. Global Contract Computational biology Market, By Region, 2018–2030 (USD Billion)

4. Global Computational biology Market, By Application, 2018–2030 (USD Billion)

5. Global Cellular & Biology Simulation Computational biology Market, By Region, 2018–2030 (USD Billion)

6. Global Drug discovery and disease modeling, Computational biology Market, By Region, 2018–2030 (USD Billion)

7. Global Pre-clinical drug development Computational biology Market, By Region, 2018–2030 (USD Billion)

8. Global Clinical trials Computational biology Market, By Region, 2018–2030 (USD Billion)

9. Global Human Body Simulation Software Computational biology Market, By Region, 2018–2030 (USD Billion)

10. Global Computational biology Market, By End User, 2018–2030 (USD Billion)

11. Global Academics Computational biology Market, By Region, 2018–2030 (USD Billion)

12. Global Industrial Computational biology Market, By Region, 2018–2030 (USD Billion)

13. Global Commercial Computational biology Market, By Region, 2018–2030 (USD Billion)

14. Global Computational biology Market, By Region, 2018–2030 (USD Billion)

15. Global Computational biology Market, By North America, 2018–2030 (USD Billion)

16. North America Computational biology Market, By Service, 2018–2030 (USD Billion)

17. North America Computational biology Market, By Application, 2018–2030 (USD Billion)

18. North America Computational biology Market, By End User, 2018–2030 (USD Billion)

19. U.S. Computational biology Market, By Service, 2018–2030 (USD Billion)

20. U.S. Computational biology Market, By Application, 2018–2030 (USD Billion)

21. U.S. Computational biology Market, By End User, 2018–2030 (USD Billion)

22. Canada Computational biology Market, By Service, 2018–2030 (USD Billion)

23. Canada Computational biology Market, By Application, 2018–2030 (USD Billion)

24. Canada Computational biology Market, By End User, 2018–2030 (USD Billion)

25. Mexico Computational biology Market, By Service, 2018–2030 (USD Billion)

26. Mexico Computational biology Market, By Application, 2018–2030 (USD Billion)

27. Mexico Computational biology Market, By End User, 2018–2030 (USD Billion)

28. Europe Computational biology Market, By Service, 2018–2030 (USD Billion)

29. Europe Computational biology Market, By Application, 2018–2030 (USD Billion)

30. Europe Computational biology Market, By End User, 2018–2030 (USD Billion)

31. Germany Computational biology Market, By Service, 2018–2030 (USD Billion)

32. Germany Computational biology Market, By Application, 2018–2030 (USD Billion)

33. Germany Computational biology Market, By End User, 2018–2030 (USD Billion)

34. France Computational biology Market, By Service, 2018–2030 (USD Billion)

35. France Computational biology Market, By Application, 2018–2030 (USD Billion)

36. France Computational biology Market, By End User, 2018–2030 (USD Billion)

37. U.K. Computational biology Market, By Service, 2018–2030 (USD Billion)

38. U.K. Computational biology Market, By Application, 2018–2030 (USD Billion)

39. U.K. Computational biology Market, By End User, 2018–2030 (USD Billion)

40. Italy Computational biology Market, By Service, 2018–2030 (USD Billion)

41. Italy Computational biology Market, By Application, 2018–2030 (USD Billion)

42. Italy Computational biology Market, By End User, 2018–2030 (USD Billion)

43. Spain Computational biology Market, By Service, 2018–2030 (USD Billion)

44. Spain Computational biology Market, By Application, 2018–2030 (USD Billion)

45. Spain Computational biology Market, By End User, 2018–2030 (USD Billion)

46. Asia Pacific Computational biology Market, By Service, 2018–2030 (USD Billion)

47. Asia Pacific Computational biology Market, By Application, 2018–2030 (USD Billion)

48. Asia Pacific Computational biology Market, By End User, 2018–2030 (USD Billion)

49. Japan Computational biology Market, By Service, 2018–2030 (USD Billion)

50. Japan Computational biology Market, By Application, 2018–2030 (USD Billion)

51. Japan Computational biology Market, By End User, 2018–2030 (USD Billion)

52. China Computational biology Market, By Service, 2018–2030 (USD Billion)

53. China Computational biology Market, By Application, 2018–2030 (USD Billion)

54. China Computational biology Market, By End User, 2018–2030 (USD Billion)

55. India Computational biology Market, By Service, 2018–2030 (USD Billion)

56. India Computational biology Market, By Application, 2018–2030 (USD Billion)

57. India Computational biology Market, By End User, 2018–2030 (USD Billion)

58. South America Computational biology Market, By Service, 2018–2030 (USD Billion)

59. South America Computational biology Market, By Application, 2018–2030 (USD Billion)

60. South America Computational biology Market, By End User, 2018–2030 (USD Billion)

61. Brazil Computational biology Market, By Service, 2018–2030 (USD Billion)

62. Brazil Computational biology Market, By Application, 2018–2030 (USD Billion)

63. Brazil Computational biology Market, By End User, 2018–2030 (USD Billion)

64. Middle East and Africa Computational biology Market, By Service, 2018–2030 (USD Billion)

65. Middle East and Africa Computational biology Market, By Application, 2018–2030 (USD Billion)

66. Middle East and Africa Computational biology Market, By End User, 2018–2030 (USD Billion)

67. UAE Computational biology Market, By Service, 2018–2030 (USD Billion)

68. UAE Computational biology Market, By Application, 2018–2030 (USD Billion)

69. UAE Computational biology Market, By End User, 2018–2030 (USD Billion)

70. South Africa Computational biology Market, By Service, 2018–2030 (USD Billion)

71. South Africa Computational biology Market, By Application, 2018–2030 (USD Billion)

72. South Africa Computational biology Market, By End User, 2018–2030 (USD Billion)

List of Figures 

1. Global Computational biology Market Segmentation

2. Computational biology 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 Computational biology Market Attractiveness Analysis By Service

9. Global Computational biology Market Attractiveness Analysis By Application

10. Global Computational biology Market Attractiveness Analysis By End User

11. Global Computational biology Market Attractiveness Analysis By Region

12. Global Computational biology Market: Dynamics

13. Global Computational biology Market Share By Service (2021&2030)

14. Global Computational biology Market Share By Application (2021&2030)

15. Global Computational biology Market Share By End User(2021&2030)

16. Global Computational biology Market Share by Regions (2021&2030)

17. Global Computational biology Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2030. The Brainy Insights has segmented the global computational biology market on the basis of below mentioned segments:

Global Computational Biology Market by Service:

  • In-house
  • Contract

Global Computational Biology Market by Application:

  • Cellular & Biology Simulation
    • Computational Genomics
      • Database
      • Infrastructure / Hardware
      • Software & Services
    • Computational Proteomics
      • Pharmacogenomics
      • Others
  • Drug discovery and disease modeling
    • Target identification
    • Target Validation
    • Lead Discovery
    • Lead Optimization
  • Pre-clinical drug development
    • Pharmacokinetics
    • Pharmacodynamics
  • Clinical trials
    • Phase I
    • Phase II
    • Phase III
  • Human Body Simulation Software

Global Computational Biology Market by End-user:

  • Academics
  • Industrial
  • Commercial

Global Computational Biology 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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