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The global digital health market was valued at USD 159.75 billion in 2021, growing at a CAGR of 23.05% from 2022 to 2030. The global digital health market is expected to reach USD 1033.18 billion by 2030. The North America is expected to grow the fastest during the forecast period
Digital health can incorporate information technology and electronic communications with various healthcare processes. The broad scope of digital health contains health information technology (IT), telehealth and telemedicine, wearable devices, mobile health (mHealth), and personalized medicine. Advances in robotics, AI, big data, and machine learning continue to bring about significant changes in digital healthcare. The increasing popularity of digital health is due to a link between raised technology use & mental health issues, including attention and behavior problems.
Digital health instruments have the vast potential to improve the ability to diagnose and treat disease accurately and enhance health care delivery for the individual. Digital health technologies utilize software, computing platforms, connectivity, and sensors for health care & related uses. These technologies span a broad range of benefits, from applications in general wellness to applications as medical devices. Digital health presents real opportunities to improve medical outcomes & enhance efficiency. Overall digital health covers consultation, diagnosis, treatment, and long-term care services at the economy of price with greater access than an old location-based healthcare system. The Covid-19 epidemics and the conditions thereon have resulted in the rapid adoption of different digital health technologies.
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Drivers:
The increasing demand for mobile health apps: The quickly growing incidence rate of chronic diseases needing long-term care & patient monitoring services is the driving factor of the market growth. Moreover, the increasing awareness of women’s health worldwide, rising digitization, and increasing penetration of technology in daily life are substantially the driving factors of the market growth. In addition, the growing demand for lowering medical expenses and the ever-increasing need for proper and timely information procurement is also helping to propel the market growth. Further, the increasing demand for remote patient monitoring services & growing focus on patient-centric healthcare services is driving the market growth during the forecast period.
Restraints:
The strict government regulations across different countries: The market's restraining factor is the lack of security concerns such as cyber-attacks and financial restrictions to maintain digital health-related services. Further, strict data security is necessary for implementing digital health solutions such as e-prescriptions, electronic health records, and medical apps, which are also hampering the market growth. In addition, the lack of awareness of female health and hygiene is inhibiting the market growth. Also, the high cost associated with large equipped systems like EMR/ EHR and revenue cycle management systems is anticipated to hamper the market growth.
Opportunities:
The growing penetration of digital health in emerging economies: The increasing disposable income and smartphone penetration is the opportunity factor for market growth. Further, the substantial advances in processing and storage technology have made computing resources more efficient, economical, and accessible, permitting the on-demand delivery of these services to patients through the internet. Moreover, the positive adjustments to data privacy & cyber security protocols and increasing demand for remote patient monitoring services stimulate market growth during the forecast period.
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 digital health market, with a 45.37% share of the market revenue in 2021. North America currently dominates the digital health market due to the growing enactment of government policies. Further, the measures for improving the operations of the healthcare delivery system, the raised prevalence of chronic disease, and the requirement for continuous monitoring are boosting the market growth in this region. In addition, the highly developed network infrastructure and the rapid development of several healthcare mobile apps are propelling the market growth in this region. The Asia Pacific is expected to grow the fastest during the forecast period due to the increasing smartphone adoption and the expanding demand for healthcare analytics. Further, rising healthcare expenditure levels and the growing prevalence of chronic obstructive pulmonary disease (COPD) and diabetes are helping to propel the market growth in this region. Also, the increasing adoption of big data in the healthcare sector, the rapid adaption of electronic medical records, and the surge in demand for remote monitoring devices are helping to drive market growth.
North America Region Digital Health Market Share in 2021 - 45.37%
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Component segment analysis
The component segment is divided into hardware, software, and services. The software segment dominated the market, with a market share of around 39.14% in 2021. This growth is attributed to the increasing adoption of technological & I.T. solutions.
Technology segment analysis
The technology segment is divided into telehealthcare, mhealth, digital health systems, and healthcare analytics. In 2021, the mhealth segment dominated the market with the largest market share of 34.16% and market revenue of 1.81 billion. This growth is attributed to the increasing penetration of the internet and smartphones and the ever-increasing adoption of mHealth technology. Additionally, the growing awareness among individuals to use mobile health solutions & supportive government initiatives to introduce and encourage remote digital healthcare are some of the other factors that are helping to boost the market growth during the forecast period. Further, the high preference for mobile medical platforms and the positive attitude of healthcare professionals against real-time patient care are also expected to propel market growth. Moreover, the favorable government strategies and growing collaboration of the manufacturers with multiple healthcare institutions are boosting the market growth during the forecast period. Further, by 2030, the healthcare analytics segment will likely dominate the market due to the emergence of big data in healthcare & technological advancements. The adoption of healthcare analytics is expected to grow rapidly globally as it can potentially reduce the price of treatment, predict illness outbreaks, avoid preventable diseases and improve the overall quality of care and life of patients.
Delivery mode segment analysis
The delivery mode segment is divided into cloud-based and on-premise. In 2021, the cloud-based segment dominated the market, accounting for around 57.21% of global revenue. This growth is attributed to the proliferation of new payment models and the cost-efficiency of the cloud.
End-user segment analysis
The end-user segment is divided into healthcare payers, healthcare providers, and pharmaceutical companies. In 2021, the healthcare providers segment dominated the market, accounting for around 38.27% of global revenue. This growth is attributed to the increasing adoption of electronic health records (EHR) and other sanitarium information systems.
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion), Volume (Kg) |
| Market size value in 2021 | USD 159.75 Billion |
| Market size value in 2030 | USD 1033.18 Billion |
| CAGR (2022 to 2030) | 23.05% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Segments | The research created based on component, technology, delivery mode, end-user, and regions/country. |
| Regional Segments | Europe, Asia Pacific, North America, South America, and Middle East & Africa. |
As per The Brainy Insights, the size of the digital health market was valued at USD 159.75 billion in 2021 to USD 1033.18 billion by 2030.
Global digital health market is growing at a CAGR of 23.05% during the forecast period 2022-2030.
North America region emerged as the largest market for the digital health.
The global digital health market has been segmented based on component, technology, delivery mode, end-user, and regions. The software segment led component segment in 2021. The mhealth segment led the technology segment in 2021.
Key players are Apple Inc, Cerner Corporation, Epic Systems Corporation, McKesson Corporation, Allscripts, QSI Management, LLC, Telefonica S.A., Airstrip Technologies, HiMS, Google, Inc, Vodafone Group, Qualcomm Technologies, Inc, MQure
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 Component
4.3.2. Market Attractiveness Analysis By Technology
4.3.3. Market Attractiveness Analysis By Delivery Mode
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. The increasing demand for mobile health apps
5.2.2. The growing adoption of mHealth services
5.2.3. The growing demand for digital health solutions.
5.3. Restraints
5.3.1. The strict government regulations across different countries
5.4. Opportunities
5.4.1. The growing penetration of digital health in emerging economies
6. Global Digital Health Market Analysis and Forecast, By Component
6.1. Segment Overview
6.2. Hardware
6.3. Software
6.4. Services
7. Global Digital Health Market Analysis and Forecast, By Technology
7.1. Segment Overview
7.2. Telehealthcare
7.3. mHealth
7.4. Digital Health Systems
7.5. Healthcare Analytics
8. Global Digital Health Market Analysis and Forecast, By Delivery Mode
8.1. Segment Overview
8.2. Cloud-Based
8.3. On-Premise
9. Global Digital Health Market Analysis and Forecast, By End-User
9.1. Segment Overview
9.2. Healthcare Payers
9.3. Healthcare Providers
9.4. Pharmaceutical Companies
10. Global Digital Health 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 Digital Health Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in Global Digital Health 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. Apple Inc
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. Cerner Corporation
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. Epic Systems Corporation
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. McKesson Corporation
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. Allscripts
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. QSI Management, LLC
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. Telefonica S.A.
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. Airstrip Technologies
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. HiMS
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. Google, Inc
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. Vodafone Group
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. Qualcomm Technologies, Inc
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. MQure
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. CISCO Systems, Inc
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. Samsung Electronics Co. Ltd
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. Computer Programs and Systems, Inc
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
12.17. IBM Corporation
12.17.1. Business Overview
12.17.2. Company Snapshot
12.17.3. Company Market Share Analysis
12.17.4. Company Product Portfolio
12.17.5. Recent Developments
12.17.6. SWOT Analysis
12.18. Vocera Communications
12.18.1. Business Overview
12.18.2. Company Snapshot
12.18.3. Company Market Share Analysis
12.18.4. Company Product Portfolio
12.18.5. Recent Developments
12.18.6. SWOT Analysis
12.19. Softserve
12.19.1. Business Overview
12.19.2. Company Snapshot
12.19.3. Company Market Share Analysis
12.19.4. Company Product Portfolio
12.19.5. Recent Developments
12.19.6. SWOT Analysis
List of Table
1. Global Digital Health Market, By Component, 2019-2030 (USD Billion)
2. Global Hardware, Digital Health Market, By Region, 2019-2030 (USD Billion)
3. Global Software, Digital Health Market, By Region, 2019-2030 (USD Billion)
4. Global Services, Digital Health Market, By Region, 2019-2030 (USD Billion)
5. Global Digital Health Market, By Technology, 2019-2030 (USD Billion)
6. Global Telehealthcare, Digital Health Market, By Region, 2019-2030 (USD Billion)
7. Global mHealth, Digital Health Market, By Region, 2019-2030 (USD Billion)
8. Global Digital Health Systems, Digital Health Market, By Region, 2019-2030 (USD Billion)
9. Global Healthcare Analytics, Digital Health Market, By Region, 2019-2030 (USD Billion)
10. Global Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
11. Global Cloud-Based, Digital Health Market, By Region, 2019-2030 (USD Billion)
12. Global On-Premise, Digital Health Market, By Region, 2019-2030 (USD Billion)
13. Global Digital Health Market, By End-User, 2019-2030 (USD Billion)
14. Global Healthcare Payers, Digital Health Market, By Region, 2019-2030 (USD Billion)
15. Global Healthcare Providers, Digital Health Market, By Region, 2019-2030 (USD Billion)
16. Global Pharmaceutical Companies, Digital Health Market, By Region, 2019-2030 (USD Billion)
17. North America Digital Health Market, By Component, 2019-2030 (USD Billion)
18. North America Digital Health Market, By Technology, 2019-2030 (USD Billion)
19. North America Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
20. North America Digital Health Market, By End-User, 2019-2030 (USD Billion)
21. U.S. Digital Health Market, By Component, 2019-2030 (USD Billion)
22. U.S. Digital Health Market, By Technology, 2019-2030 (USD Billion)
23. U.S. Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
24. U.S. Digital Health Market, By End-User, 2019-2030 (USD Billion)
25. Canada Digital Health Market, By Component, 2019-2030 (USD Billion)
26. Canada Digital Health Market, By Technology, 2019-2030 (USD Billion)
27. Canada Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
28. Canada Digital Health Market, By End-User, 2019-2030 (USD Billion)
29. Mexico Digital Health Market, By Component, 2019-2030 (USD Billion)
30. Mexico Digital Health Market, By Technology, 2019-2030 (USD Billion)
31. Mexico Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
32. Mexico Digital Health Market, By End-User, 2019-2030 (USD Billion)
33. Europe Digital Health Market, By Component, 2019-2030 (USD Billion)
34. Europe Digital Health Market, By Technology, 2019-2030 (USD Billion)
35. Europe Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
36. Europe Digital Health Market, By End-User, 2019-2030 (USD Billion)
37. Germany Digital Health Market, By Component, 2019-2030 (USD Billion)
38. Germany Digital Health Market, By Technology, 2019-2030 (USD Billion)
39. Germany Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
40. Germany Digital Health Market, By End-User, 2019-2030 (USD Billion)
41. France Digital Health Market, By Component, 2019-2030 (USD Billion)
42. France Digital Health Market, By Technology, 2019-2030 (USD Billion)
43. France Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
44. France Digital Health Market, By End-User, 2019-2030 (USD Billion)
45. U.K. Digital Health Market, By Component, 2019-2030 (USD Billion)
46. U.K. Digital Health Market, By Technology, 2019-2030 (USD Billion)
47. U.K. Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
48. U.K. Digital Health Market, By End-User, 2019-2030 (USD Billion)
49. Italy Digital Health Market, By Component, 2019-2030 (USD Billion)
50. Italy Digital Health Market, By Technology, 2019-2030 (USD Billion)
51. Italy Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
52. Italy Digital Health Market, By End-User, 2019-2030 (USD Billion)
53. Spain Digital Health Market, By Component, 2019-2030 (USD Billion)
54. Spain Digital Health Market, By Technology, 2019-2030 (USD Billion)
55. Spain Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
56. Spain Digital Health Market, By End-User, 2019-2030 (USD Billion)
57. Asia Pacific Digital Health Market, By Component, 2019-2030 (USD Billion)
58. Asia Pacific Digital Health Market, By Technology, 2019-2030 (USD Billion)
59. Asia Pacific Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
60. Asia Pacific Digital Health Market, By End-User, 2019-2030 (USD Billion)
61. Japan Digital Health Market, By Component, 2019-2030 (USD Billion)
62. Japan Digital Health Market, By Technology, 2019-2030 (USD Billion)
63. Japan Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
64. Japan Digital Health Market, By End-User, 2019-2030 (USD Billion)
65. China Digital Health Market, By Component, 2019-2030 (USD Billion)
66. China Digital Health Market, By Technology, 2019-2030 (USD Billion)
67. China Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
68. China Digital Health Market, By End-User, 2019-2030 (USD Billion)
69. India Digital Health Market, By Component, 2019-2030 (USD Billion)
70. India Digital Health Market, By Technology, 2019-2030 (USD Billion)
71. India Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
72. India Digital Health Market, By End-User, 2019-2030 (USD Billion)
73. South America Digital Health Market, By Component, 2019-2030 (USD Billion)
74. South America Digital Health Market, By Technology, 2019-2030 (USD Billion)
75. South America Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
76. South America Digital Health Market, By End-User, 2019-2030 (USD Billion)
77. Brazil Digital Health Market, By Component, 2019-2030 (USD Billion)
78. Brazil Digital Health Market, By Technology, 2019-2030 (USD Billion)
79. Brazil Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
80. Brazil Digital Health Market, By End-User, 2019-2030 (USD Billion)
81. Middle East and Africa Digital Health Market, By Component, 2019-2030 (USD Billion)
82. Middle East and Africa Digital Health Market, By Technology, 2019-2030 (USD Billion)
83. Middle East and Africa Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
84. Middle East and Africa Digital Health Market, By End-User, 2019-2030 (USD Billion)
85. UAE Digital Health Market, By Component, 2019-2030 (USD Billion)
86. UAE Digital Health Market, By Technology, 2019-2030 (USD Billion)
87. UAE Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
88. UAE Digital Health Market, By End-User, 2019-2030 (USD Billion)
89. South Africa Digital Health Market, By Component, 2019-2030 (USD Billion)
90. South Africa Digital Health Market, By Technology, 2019-2030 (USD Billion)
91. South Africa Digital Health Market, By Delivery Mode, 2019-2030 (USD Billion)
92. South Africa Digital Health Market, By End-User, 2019-2030 (USD Billion)
List of Figures
1. Global Digital Health Market Segmentation
2. Global Digital Health 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 Digital Health Market Attractiveness Analysis By Component
9. Global Digital Health Market Attractiveness Analysis By Technology
10. Global Digital Health Market Attractiveness Analysis By Delivery Mode
11. Global Digital Health Market Attractiveness Analysis By End-User
12. Global Digital Health Market Attractiveness Analysis By Region
13. Global Digital Health Market: Dynamics
14. Global Digital Health Market Share By Component (2022 & 2030)
15. Global Digital Health Market Share By Technology (2022 & 2030)
16. Global Digital Health Market Share By Delivery Mode (2022 & 2030)
17. Global Digital Health Market Share By End-User (2022 & 2030)
18. Global Digital Health Market Share By Regions (2022 & 2030)
19. Global Digital Health 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 digital health based on below mentioned segments:
Global Digital Health Market by Component:
Global Digital Health Market by Technology:
Global Digital Health Market by Delivery Mode:
Global Digital Health Market by End-User:
Global Digital Health by Region:
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.
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Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
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:
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:
The demand side for the market is estimated through:
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:
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:
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:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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