Transdermal Drug Delivery Systems Market

Transdermal Drug Delivery Systems Market Size by Type (Semisolid Formulations, and Patches), Application (Analgesics, Pain Management, Smoking Cessation, Hypertension, CNS, Hormone, Central Nervous System Disorders, Motion Sickness, Cardiovascular Diseases, Hormone Replacement Therapies, and Others), End-User (Hospital & Clinics, and Home Care Settings), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13316
  • Published Date: Feb, 2023
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global transdermal drug delivery systems market was valued at USD 6.8 billion in 2022 and growing at a CAGR of 5.10% from 2023 to 2032. The market is expected to reach USD 11.18 billion by 2032. The transdermal drug delivery systems delivery system market is mainly pushed by the rising majority of chronic conditions, where traditional drug delivery approaches, like oral drugs, have lower power due to the hepatic first-pass metabolism.

Market Introduction:

Transdermal drug delivery systems are applied directly and are used to treat a wide range of medical disorders. Transdermal drug delivery systems usage, however, can occasionally result in addiction and dependence. Transdermal drug delivery systems administration refers to substances that are absorbed through the skin. These are some of the most typical instances, including nicotine patches and patches containing painkillers like opioid drugs. To manage chronic pain, transdermal patches allow for a slower drug distribution over time. It can also refer to implants placed just under the top layers of skin or simple creams rubbed onto the skin. The treatment method has been earning popularity over treatment with pills taken orally. Having patients take pills multiple times daily increases the chance of forgetting or taking too many, which can result in dangerous symptoms, especially with opioids. Few substances can be successfully administered as the skin protects the body from outside entities. A drug must pass through multiple layers of skin to get to the bloodstream and thus ought to be incredibly potent to work in the manner. Transdermal drug delivery systems work via direct contact with the skin, as opposed to being consumed orally or injected directly into the bloodstream. Most transdermal medications are patches with either a substance reservoir or the drug in the adhesive that sticks to the skin. Both methods allow the medication to take impact quite effectively. The drug will often be combined with a transporting agent or pass via a membrane, which assists drug delivery and provides the dosage is released at an optimal rate. Some of the benefits of the drugs are medication in these patches lasts for many hours, days, or even weeks before they need to be changed, and less likelihood of mishandling since it is more challenging to misuse substances that come in patches or transplants; however, it’s not impossible although.

Transdermal Drug Delivery Systems Market Size

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Recent Development

In September 2021, Merck & Co's $11.5 billion takeover of Acceleron Pharma was one of the biggest M&A deals of the year and one of the most contentious. Merck finally got it over the line in November despite opposition from rebel investors.

Market Dynamics:

Drivers

Improved therapeutic bioavailability- The transdermal patches optimize the amount and speed at which the API is absorbed by the body and becomes available at the site of action. The patch transports the drug into the bloodstream bypassing the gastrointestinal system and the first-pass metabolism in the intestine and liver. For instance, through oral administration, the medicine may be contaminated upon entering the gastrointestinal tract due to an enzymatic reaction or by exposure to the stomach environment. Its solubility in the liquid of the intestine and its permeability via its membrane can also be limiting factors.

Restraints:

Causes skin related problems- Skin disturbance can arise even when taking transdermal drugs as prescribed and under physician supervision. Other side effects are typically decreased when drugs are administered transdermally, but misuse can increase the likelihood of these effects. Types of skin irritation found among people after taking transdermal drugs to include allergic reactions on the skin, dermatitis, or inflammation of the skin due to contact with mild irritants. Dry, cracked, flaking, or scaling of the skin, blisters, and swelling due to edema (fluid retention) in reaction to a skin infection.

Opportunities:

Development in transdermal drug systems- A growing number of medications are now available in the transdermal patch form, such as rivastigmine for Alzheimer’s diseaserotigotine for Parkinson’s disease, selegiline for primary depressive disorder, and oxybutynin for overactive bladder. Transdermal delivery delivers numerous benefits over oral delivery, including smooth, continuous drug delivery, improved bioavailability, and reduced drug-drug interactions. Patches can be easily used by the caregiver, providing a visual signal for that the medication has been issued.

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 transdermal drug delivery systems market, with a 35.8% share of the market revenue in 2022.

North America dominates the market due to the development in the region is primarily pushed by patent expirations, resulting in more players entering the market. In expansion, repositioning previously failed drugs, reformulating existing drug combinations, and massive investments undertaken by major and new market entrants are also essential elements responsible for the significant share held by the region.

North America Region Transdermal Drug Delivery Systems Market Share in 2022 - 35.8%

 

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Type Segment Analysis

The type segment is divided into semisolid formulations, and patches. The patches segment dominated the market, with a market share of around 58% in 2022. Transdermal patches are suitable for administering medication for different conditions. They stick to the skin and slowly release the drug in exact, pre-set doses via skin rather than other, more traditional methods.

Application Segment Analysis

The application segment is divided into analgesics, pain management, smoking cessation, hypertension, CNS, hormone, central nervous system disorders, motion sickness, cardiovascular diseases, hormone replacement therapies, and others. The pain management segment dominated the market, with a market share of around 11% in 2022. Due to the high usage of transdermal drug delivery systems in pain management, they can be used in multiple scenarios.

End-User Segment Analysis

The end-user segment is divided into hospital & clinics, and home care settings. The hospital & clinics segment dominated the market, with a market share of around 56% in 2022. due to the rising demand of transdermal drug delivery to treat patients dealing with different types of diseases.

Some of the Key Market Players:
  • Transdermal Technologies, Inc.
  • Transdermal Corporation
  • Skyepharma, Watson Pharmaceuticals, Inc.
  • Noven Pharmaceuticals, Inc.
  • Novartis AG
  • Mylan Pharmaceuticals, Inc.
  • Johnson & Johnson
  • Echo Therapeutics, Inc.
  • Boehringer Ingelheim GmbH
  • Biogel Technology, Inc.
  • 4P Therapeutics, LLC
  • 3M Company

Report Description: 

Attribute Description
Market Size Revenue (USD Billion), Volume (Units)
Market size value in 2022 USD 6.8 Billion
Market size value in 2032 USD 11.18 Billion
CAGR (2023 to 2032) 5.10%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments USD 6.8 Billion
Segments USD 11.18 Billion

Frequesntly Asked Questions

As per The Brainy Insights, the size of the transdermal drug delivery systems market was valued at USD 6.8 billion in 2022 to USD 11.18 billion by 2032.

Global transdermal drug delivery systems market is growing at a CAGR of 5.10% during the forecast period 2023-2032.

North America region emerged as the largest market for the transdermal drug delivery systems market.

Improved therapeutic bioavailability propels market growth.

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 Type
          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. Improved therapeutic bioavailability
    5.3. Restraints
          5.3.1. Causes skin related problems
    5.4. Opportunities
          5.4.1. Development in transdermal drug systems are pushing market growth

6. Global Transdermal Drug Delivery Systems Market Analysis and Forecast, By Type:
    6.1. Segment Overview
    6.2. Semisolid Formulations
    6.3. Patches

7. Global Transdermal Drug Delivery Systems Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Analgesics
    7.3. Pain Management
    7.4. Smoking Cessation
    7.5. Hypertension
    7.6. CNS
    7.7. Hormone
    7.8. Central Nervous System Disorders
    7.9. Motion Sickness
    7.10. Cardiovascular Diseases
    7.11. Hormone Replacement Therapies
    7.12. Others

8. Global Transdermal Drug Delivery Systems Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Hospital & Clinics
    8.3. Home Care Settings

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

10. Global Transdermal Drug Delivery Systems Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Transdermal Drug Delivery Systems 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. Transdermal Technologies, Inc
          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. Transdermal Corporation.
          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. Skyepharma, Watson Pharmaceuticals, 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. Noven Pharmaceuticals, Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Novartis AG
          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. Mylan Pharmaceuticals, Inc.
          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. Johnson & Johnson.
          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. Echo Therapeutics, 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. Boehringer Ingelheim GmbH
          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. Biogel Technology, Inc
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. 4P Therapeutics, LLC
          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. 3M Company.
          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 Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

2. Global Semisolid Formulations Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

3. Global Patches Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

4. Global Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

5. Global Analgesics Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

6. Global Pain Management Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

7. Global Smoking Cessation Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

8. Global Hypertension Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

9. Global CNS Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

10. Global Hormone Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

11. Global Central Nervous System Disorders Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

12. Global Motion Sickness Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

13. Global Cardiovascular Diseases Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

14. Global Hormone Replacement Therapies Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

15. Global Others Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion)

16. Global Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

17. Global Hospital & Clinics Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

18. Global Home Care Settings Transdermal Drug Delivery Systems Market, By Region, 2019-2032 (USD Billion) 

19. North America Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

20. North America Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

21. North America Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

22. U.S. Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

23. U.S. Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

24. U.S. Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

25. Canada Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

26. Canada Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

27. Canada Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

28. Mexico Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

29. Mexico Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

30. Mexico Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

31. Europe Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

32. Europe Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

33. Europe Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

34. Germany Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

35. Germany Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

36. Germany Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

37. France Transdermal Drug Delivery Systems Market, By Type 2019-2032 (USD Billion) 

38. France Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

39. France Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

40. U.K. Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

41. U.K. Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

42. U.K. Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

43. Italy Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

44. Italy Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

45. Italy Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

46. Spain Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

47. Spain Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

48. Spain Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

49. Asia Pacific Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

50. Asia Pacific Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

51. Asia Pacific Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

52. Japan Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

53. Japan Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

54. Japan Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

55. China Transdermal Drug Delivery Systems Market, By Type 2019-2032 (USD Billion) 

56. China Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

57. China Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

58. India Transdermal Drug Delivery Systems Market, By Type 2019-2032 (USD Billion) 

59. India Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

60. India Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

61. South America Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

62. South America Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

63. South America Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion)

64. Brazil Transdermal Drug Delivery Systems Market, By Type 2019-2032 (USD Billion) 

65. Brazil Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

66. Brazil Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

67. Middle East and Africa Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

68. Middle East and Africa Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

69. Middle East and Africa Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

70. UAE Transdermal Drug Delivery Systems Market, By Type, 2019-2032 (USD Billion) 

71. UAE Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

72. UAE Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion) 

73. South Africa Transdermal Drug Delivery Systems Market, By Type 2019-2032 (USD Billion) 

74. South Africa Transdermal Drug Delivery Systems Market, By Application, 2019-2032 (USD Billion) 

75. South Africa Transdermal Drug Delivery Systems Market, By End-User, 2019-2032 (USD Billion)  

List of Figures 

1. Global Transdermal Drug Delivery Systems Market Segmentation

2. Transdermal Drug Delivery Systems 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 Transdermal Drug Delivery Systems Market Attractiveness Analysis by Type 

9. Global Transdermal Drug Delivery Systems Market Attractiveness Analysis by Application

10. Global Transdermal Drug Delivery Systems Market Attractiveness Analysis by End-User 

11. Global Transdermal Drug Delivery Systems Market Attractiveness Analysis by Region

12. Global Transdermal Drug Delivery Systems Market: Dynamics

13. Global Transdermal Drug Delivery Systems Market Share by Type (2022 & 2032)

14. Global Transdermal Drug Delivery Systems Market Share by Application (2022 & 2032)

15. Global Transdermal Drug Delivery Systems Market Share by End-User (2022 & 2032)

16. Global Transdermal Drug Delivery Systems Market Share by Regions (2022 & 2032)

17. Global Transdermal Drug Delivery Systems Market Share by Company (2022)

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

Global Transdermal Drug Delivery Systems Market Type:

  • Semisolid Formulations
  • Patches

Global Transdermal Drug Delivery Systems Market Application:

  • Analgesics
  • Pain Management
  • Smoking Cessation
  • Hypertension
  • CNS
  • Hormone
  • Central Nervous System Disorders
  • Motion Sickness
  • Cardiovascular Diseases
  • Hormone Replacement Therapies
  • Others

Global Transdermal Drug Delivery Systems Market End-User:

  • Hospital & Clinics
  • Home Care Settings

Global Transdermal Drug Delivery Systems 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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