Smart Inhalers Market

Smart Inhalers Market Size by Product Type (Dry Powdered Inhalers and Metered Dosage Inhalers), Application (Chronic Obstructive Pulmonary Disease, Asthma and Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, and Retail Pharmacy), End-user (Hospitals and Clinics, Homecare Settings and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13577
  • Published Date: Jul, 2024
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
Buy @ $4700.00 Request Sample PDF

The global smart inhaler market was valued at USD 135.69 Million in 2023 and grew at a CAGR of 16.16% from 2024 to 2033. The market is expected to reach USD 606.88 Million by 2032.The growth of the smart inhaler market can be attributed to the rise in patients suffering from chronic respiratory diseases.

Market Introduction:

Inhalers that incorporate connectivity with a mobile app, such as Bluetooth, are called smart inhalers. These inhalers have sensors incorporated into them to help record information about each user, including the time, date and the patient's location. This can be used to program a reminder for the subsequent dose. These inhalers can notify patients and remind them when to use them. Additionally, these devices might be used to address the problem of non-compliance. Smart inhalers enable patients and their doctors to follow their status and measure the effectiveness of treatment in specific patients over time. The time and location tracking may also assist in identifying trigger variables, promptly communicating the information with the physician, and gathering data for the study. Some advanced versions can even detect high concentrations of pollen or air pollution to alert patients to potential exacerbations.

Smart Inhalers Market Size 

Get an overview of this study by requesting a free sample

Recent Development
  • In February 2022, a significant player, Honeywell and AstraZeneca, partnered to develop next-gen smart inhalers using a propellant named HFO-1234ze.

Market Dynamics:

Drivers

Increasing usage of smart inhalers: Smart inhalers can nebulize in low drug quantities, consistent and increased aerosol generation efficiency, a primarily fine-particle fraction reaching the peripheral lung, and low residual volume. Smart inhalers' output rate, aerosol chamber, and reservoir sizes can be changed for various medications to provide patients with the best possible aerosol drug delivery. The conventional and smart inhaler comparisons revealed comparable medication delivery in ventilator-dependent patients. Smart inhalers are more effective than conventional ones and can give patients larger medication dosages. The dosages of drug formulations may need to be changed to prevent the development of adverse effects due to overdose due to the smart inhalers’ increased efficiency.

Restraints:

High cost: As there are more tolerance-critical parts, components, and assemblies related to both electronic control circuits, smart inhalers are much more expensive than conventional inhalers. The manufacture of smart inhalers requires a time-consuming multistage procedure to achieve constant thickness, physical qualities, and millions of holes with one-micron diameters.

Opportunities:

Increasing incidence of chronic respiratory diseases: Over the past ten years, persistent respiratory illnesses have become more common. Additionally, an increase in contagious microorganisms has increased the spread of infectious respiratory disorders. Cross-contamination in the medical setting has reportedly been reported, with severe repercussions. The demand for smart inhalers has also increased due to the rise in neonatal respiratory disorders and the requirement for respiratory support in premature babies. Chronic obstructive lung disorders are also alarmingly rising in emerging regions like Asia-Pacific. These elements have helped the market for smart inhalers to expand.

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 smart inhalers market, with a 40.12% market revenue share in 2023.

North American region will account for the largest market share with revenue growth. Nations such as U.S. and Canada have a tremendous demand for smart inhalers due to the rising incidence of chronic respiratory diseases, especially among the geriatric population. The high investment in research and development of high-end and next-generation medical devices will lead to a substantial growth rate in the market.

North America region Smart Inhalers Market Share in 2023 - 40.12%

 

www.thebrainyinsights.com

Check the geographical analysis of this market by requesting a free sample

Product Type Segment Analysis

The product type segment is divided into dry powdered inhalers and metered dosage inhalers. The metered dosage inhalers segment dominated the market, with a share of around 42.07% in 2023.Patients can control their dosage through the use of metered dosage inhalers, and thus, it can also be used in home care settings. MDIs are efficient and are used among patients of different ages.

Application Segment Analysis

The application segment is divided into chronic obstructive pulmonary disease, asthma and others. The chronic obstructive pulmonary disease segment dominated the market, with a share of around 47.88% in 2023. It is difficult to breathe if the patients have chronic obstructive pulmonary disease, which includes chronic bronchitis and emphysema. Millions more people have COPD but have not received a diagnosis or treatment.

Distribution Channel Segment Analysis

The distribution channel segment is divided into hospital pharmacy, online pharmacy, and retail pharmacy. The hospital pharmacy segment dominated the market, with a share of around 42.11% in 2023. Hospital pharmacies provide most smart inhalers objected for different indications. Hospital pharmacy consistently upholds and enhances patient pharmaceutical care and medication management to the highest standards in a hospital setting.

End-user Segment Analysis

The end-user segment is divided into hospitals and clinics, homecare settings and others. The hospitals and clinics segment dominated the market, with a share of around 52.31% in 2023. Hospitals and clinics witness high admissions of patients with chronic obstructive pulmonary disease and asthma. The growing investment in hospitals and clinics has contributed to the segment’s revenue.

Some of the Key Market Players:
  • H&T Presspart Manufacturing Ltd.
  • COHERO Health Inc.
  • Personal Air Quality Systems Private Limited
  • Adherium Limited
  • Cognita Labs
  • Teva Pharmaceuticals Industries Ltd.
  • Amiko Digital Health Limited
  • Novartis AG, Propeller Health
  • Pneuma Respiratory Inc.
  • AireHealth, Inc.
  • 3M Health Care Limited
  • FindAir Sp. z o.o

Report Description:

Attribute Description
Market Size Revenue (USD Million)
Market size value in 2023 USD 135.69 Million
Market size value in 2033 USD 606.88 Million
CAGR (2024 to 2033) 16.16%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Product Type, Application, Distribution Channel and End-user

Frequesntly Asked Questions

As per The Brainy Insights, the size of the smart inhalers market was valued 135.69 Million in 2023 to USD 606.88 Million by 2033.

Global smart inhalersmarket is growing at a CAGR of 16.16% during the forecast period 2024-2033.

North Americaregion emerged as the largest market for the smart inhalers.

The market's growth will be influenced by the high usage of smart inhalers.

The high cost of these inhalerscan hamper the market growth.

The increasing incidence of chronic respiratory disorders is providinghuge 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 Product Type
          4.3.2. Market Attractiveness Analysis by Application
          4.3.3. Market Attractiveness Analysis by Distribution Channel
          4.3.4. Market Attractiveness Analysis by End-users
          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 smart inhalers among patients
    5.3. Restraints
          5.3.1. High cost
    5.4. Opportunities
          5.4.1. Increasing investment in healthcare industry
    5.5. Challenges
          5.5.1. Stringent regulations

6. Global Smart Inhalers Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Dry Powdered Inhalers
    6.3. Metered Dosage Inhalers

7. Global Smart Inhalers Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Chronic Obstructive Pulmonary Disease
    7.3. Asthma
    7.4. Others

8. Global Smart Inhalers Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Hospital Pharmacy
    8.3. Online Pharmacy
    8.4. Retail Pharmacy

9. Global Smart Inhalers Market Analysis and Forecast, By End-users
    9.1. Segment Overview
    9.2. Hospitals and Clinics
    9.3. Homecare Settings
    9.4. Others

10. Global Smart Inhalers 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 Smart Inhalers Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Smart Inhalers 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. H&T Presspart Manufacturing Ltd.
          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. COHERO Health Inc.
          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. Personal Air Quality Systems Private Limited
          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. Adherium Limited
          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. Cognita Labs
          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. Teva Pharmaceuticals Industries Ltd.
          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. Amiko Digital Health Limited
          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. Novartis AG
          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. Propeller Health
          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. Pneuma Respiratory 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. AireHealth, Inc.
          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. 3M Health Care Limited
          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. FindAir Sp. z o.o
          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

List of Table

1. Global Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

2. Global Dry Powdered Inhalers, Based Smart Inhalers, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

3. Global Metered Dosage Inhalers, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

4. Global Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

5. Global Chronic Obstructive Pulmonary Disease, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

6. Global Asthma, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

7. Global Others, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

8. Global Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

9. Global Hospital Pharmacy, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

10. Global Online Pharmacy, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

11. Global Retail Pharmacy, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

12. Global Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

13. Global Hospitals and Clinics, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

14. Global Homecare Settings, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

15. Global Others, Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

16. Global Smart Inhalers Market, By Region, 2020 - 2033 (USD Million) 

17. North America Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

18. North America Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

19. North America Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million)

20. North America Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

21. U.S. Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

22. U.S. Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

23. U.S. Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

24. U.S. Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

25. Canada Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

26. Canada Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

27. Canada Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

28. Canada Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

29. Mexico Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

30. Mexico Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

31. Mexico Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

32. Mexico Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

33. Europe Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

34. Europe Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

35. Europe Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million)

36. Europe Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

37. Germany Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

38. Germany Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

39. Germany Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

40. Germany Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

41. France Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

42. France Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

43. France Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

44. France Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

45. U.K. Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

46. U.K. Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

47. U.K. Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

48. U.K. Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

49. Italy Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

50. Italy Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

51. Italy Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

52. Italy Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

53. Spain Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

54. Spain Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

55. Spain Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

56. Spain Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

57. Asia Pacific Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

58. Asia Pacific Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

59. Asia Pacific Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

60. Asia Pacific Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

61. Japan Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

62. Japan Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

63. Japan Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million)

64. Japan Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

65. China Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

66. China Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

67. China Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

68. China Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

69. India Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

70. India Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

71. India Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

72. India Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

73. South America Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

74. South America Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

75. South America Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

76. South America Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

77. Brazil Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

78. Brazil Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

79. Brazil Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

80. BrazilSmart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

81. Middle East and Africa Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

82. Middle East and Africa Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

83. Middle East and Africa Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

84. Middle East and Africa Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

85. UAE Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

86. UAE Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

87. UAE Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

88. UAE Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million) 

89. South Africa Smart Inhalers Market, By Product Type, 2020 - 2033 (USD Million) 

90. South Africa Smart Inhalers Market, By Application, 2020 - 2033 (USD Million) 

91. South Africa Smart Inhalers Market, By Distribution Channel, 2020 - 2033 (USD Million) 

92. South Africa Smart Inhalers Market, By End-user, 2020 - 2033 (USD Million)  

List of Figures

1. Global Smart Inhalers Market Segmentation

2. Smart Inhalers 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 Smart Inhalers Market Attractiveness Analysis by Product Type

9. Global Smart Inhalers Market Attractiveness Analysis by Application

10. Global Smart Inhalers Market Attractiveness Analysis by Distribution Channel

11. Global Smart Inhalers Market Attractiveness Analysis by End-user

12. Global Smart Inhalers Market Attractiveness Analysis by Region

13. Global Smart Inhalers Market: Dynamics

14. Global Smart Inhalers Market Share by Product Type (2023 & 2033)

15. Global Smart Inhalers Market Share by Application (2023 & 2033)

16. Global Smart Inhalers Market Share by Distribution Channel (2023 & 2033)

17. Global Smart Inhalers Market Share by End-user (2023 & 2033)

18. Global Smart Inhalers Market Share by Regions (2023 & 2033)

19. Global Smart Inhalers Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global smart inhalers market based on below mentioned segments:

Global Smart Inhalers Market by Product Type:

  • Dry Powdered Inhalers
  • Metered Dosage Inhalers

Global Smart Inhalers Market by Application:

  • Chronic Obstructive Pulmonary Disease
  • Asthma
  • Others

Global Smart Inhalers Market by Distribution Channel:

  • Hospital Pharmacy
  • Online Pharmacy
  • Retail Pharmacy

Global Smart Inhalers Market by End-user:

  • Hospitals and Clinics
  • Homecare Settings
  • Others

Global Smart Inhalers 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.

Some Facts About The Brainy Insights

50%

Free Customization

300+

Fortune 500 Clients

1

Free Yearly Update On Purchase Of Multi/Corporate License

900+

Companies Served Till Date