Medication Management Market Updates by 2031
Medication management is the method of reconciling, monitoring, and tracing an individual's medications. The medication management factors include, over the counter medications, nutritional supplements, vitamins, and other conventional therapies. This process assures patient compliance and aids in avoiding adverse drug interactions and side effects or other complexities. Medication management is an essential part of personalized care as it helps to achieve the goal of the care plan and attain desired health outcomes. The market is a perfect competition market with the presence of numerous market players and buyers. The market players are competing based on price, product innovation, and quality.
MARKET SCOPE
The "Global Medication Management Market Analysis to 2031" is a specialized and in-depth study of the medical device industry with a special focus on the global market trend analysis. The report aims to provide an overview of the medication management market with detailed market segmentation by software, mode of delivery, end user, and geography. The report provides key statistics on the market status of the leading medication management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on software, the global medication management market is segmented into computerized physician order entry, inventory management, clinical decision support system, medication administration software, other software.
- Based on mode of delivery, the global medication management market is segmented into cloud based, web based, and on premise.
- Based on end user, the market is bifurcated into pharmacies, hospitals, other.
MARKET DYNAMICS
Drivers
- Rising worldwide incidence of SARS-CoV-2.
- Rise in the number of challenges being faced by medical practitioners regarding the maintenance of patient records.
- Increase in the amount of investments by hospitals towards streamlining the clinical processes.
Restraints
- Reluctance To Adopt Medication Management Systems.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medication management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medication management market in these regions.
IMPACT OF COVID-19 ON MEDICATION MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 Pandemic has increased the demand medication management across the globe.
The current coronavirus disease 2021 (COVID-19) pandemic is placing a huge strain on health systems worldwide. Suggested solutions like social distancing and lockdowns in some areas to help contain the spread of the virus may affect special patient populations like those with chronic illnesses who are unable to access healthcare facilities for their routine care and medicines management. Retail pharmacy outlets are the likely facilities for easy access by these patients. The contribution of community pharmacists in these facilities to manage chronic conditions and promote medication adherence during this COVID-19 pandemic will be essential in easing the burden on already strained health systems.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The medication management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the medication management market in these regions.
IMPACT OF COVID-19 ON MEDICATION MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 Pandemic has increased the demand medication management across the globe.
The current coronavirus disease 2021 (COVID-19) pandemic is placing a huge strain on health systems worldwide. Suggested solutions like social distancing and lockdowns in some areas to help contain the spread of the virus may affect special patient populations like those with chronic illnesses who are unable to access healthcare facilities for their routine care and medicines management. Retail pharmacy outlets are the likely facilities for easy access by these patients. The contribution of community pharmacists in these facilities to manage chronic conditions and promote medication adherence during this COVID-19 pandemic will be essential in easing the burden on already strained health systems.
MARKET PLAYERS
The report covers key developments in the medication management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from medication management market are anticipated to lucrative growth opportunities in the future with the rising demand for medication management in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the medication management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Siemens AG
- McKesson Corporation
- Optum Inc
- Cerner Corporation
- BD
- QuadraMed Affinity Corporation
- Omnicell, Inc
- Medical Information Technology, Inc
- Talyst, LLC
- Swisslog Holding Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Medication Management Market - By Software
1.3.2 Medication Management Market - By Mode of Delivery
1.3.3 Medication Management Market - By End-User
1.3.4 Medication Management Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. MEDICATION MANAGEMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. MEDICATION MANAGEMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. MEDICATION MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. MEDICATION MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. MEDICATION MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. MEDICATION MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - SOFTWARE
7.1. OVERVIEW
7.2. SOFTWARE MARKET FORECASTS AND ANALYSIS
7.3. COMPUTERIZED PHYSICIAN ORDER ENTRY
7.3.1. Overview
7.3.2. Computerized Physician order Entry Market Forecast and Analysis
7.4. INVENTORY MANAGEMENT
7.4.1. Overview
7.4.2. Inventory Management Market Forecast and Analysis
7.5. CLINICAL DECISION SUPPORT SYSTEM
7.5.1. Overview
7.5.2. Clinical Decision Support System Market Forecast and Analysis
7.6. MEDICATION ADMINISTRATION SOFTWARE
7.6.1. Overview
7.6.2. Medication Administration Software Market Forecast and Analysis
7.7. OTHER SOFTWARE
7.7.1. Overview
7.7.2. Other Software Market Forecast and Analysis
8. MEDICATION MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - MODE OF DELIVERY
8.1. OVERVIEW
8.2. MODE OF DELIVERY MARKET FORECASTS AND ANALYSIS
8.3. CLOUD BASED
8.3.1. Overview
8.3.2. Cloud Based Market Forecast and Analysis
8.4. WEB BASED
8.4.1. Overview
8.4.2. Web Based Market Forecast and Analysis
8.5. ON PREMISE
8.5.1. Overview
8.5.2. On Premise Market Forecast and Analysis
9. MEDICATION MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - END-USER
9.1. OVERVIEW
9.2. END-USER MARKET FORECASTS AND ANALYSIS
9.3. PHARMACIES
9.3.1. Overview
9.3.2. Pharmacies Market Forecast and Analysis
9.4. HOSPITALS
9.4.1. Overview
9.4.2. Hospitals Market Forecast and Analysis
9.5. OTHER
9.5.1. Overview
9.5.2. Other Market Forecast and Analysis
10. MEDICATION MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Medication Management Market Overview
10.1.2 North America Medication Management Market Forecasts and Analysis
10.1.3 North America Medication Management Market Forecasts and Analysis - By Software
10.1.4 North America Medication Management Market Forecasts and Analysis - By Mode of Delivery
10.1.5 North America Medication Management Market Forecasts and Analysis - By End-User
10.1.6 North America Medication Management Market Forecasts and Analysis - By Countries
10.1.6.1 United States Medication Management Market
10.1.6.1.1 United States Medication Management Market by Software
10.1.6.1.2 United States Medication Management Market by Mode of Delivery
10.1.6.1.3 United States Medication Management Market by End-User
10.1.6.2 Canada Medication Management Market
10.1.6.2.1 Canada Medication Management Market by Software
10.1.6.2.2 Canada Medication Management Market by Mode of Delivery
10.1.6.2.3 Canada Medication Management Market by End-User
10.1.6.3 Mexico Medication Management Market
10.1.6.3.1 Mexico Medication Management Market by Software
10.1.6.3.2 Mexico Medication Management Market by Mode of Delivery
10.1.6.3.3 Mexico Medication Management Market by End-User
10.2. EUROPE
10.2.1 Europe Medication Management Market Overview
10.2.2 Europe Medication Management Market Forecasts and Analysis
10.2.3 Europe Medication Management Market Forecasts and Analysis - By Software
10.2.4 Europe Medication Management Market Forecasts and Analysis - By Mode of Delivery
10.2.5 Europe Medication Management Market Forecasts and Analysis - By End-User
10.2.6 Europe Medication Management Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Medication Management Market
10.2.6.1.1 Germany Medication Management Market by Software
10.2.6.1.2 Germany Medication Management Market by Mode of Delivery
10.2.6.1.3 Germany Medication Management Market by End-User
10.2.6.2 France Medication Management Market
10.2.6.2.1 France Medication Management Market by Software
10.2.6.2.2 France Medication Management Market by Mode of Delivery
10.2.6.2.3 France Medication Management Market by End-User
10.2.6.3 Italy Medication Management Market
10.2.6.3.1 Italy Medication Management Market by Software
10.2.6.3.2 Italy Medication Management Market by Mode of Delivery
10.2.6.3.3 Italy Medication Management Market by End-User
10.2.6.4 Spain Medication Management Market
10.2.6.4.1 Spain Medication Management Market by Software
10.2.6.4.2 Spain Medication Management Market by Mode of Delivery
10.2.6.4.3 Spain Medication Management Market by End-User
10.2.6.5 United Kingdom Medication Management Market
10.2.6.5.1 United Kingdom Medication Management Market by Software
10.2.6.5.2 United Kingdom Medication Management Market by Mode of Delivery
10.2.6.5.3 United Kingdom Medication Management Market by End-User
10.2.6.6 Rest of Europe Medication Management Market
10.2.6.6.1 Rest of Europe Medication Management Market by Software
10.2.6.6.2 Rest of Europe Medication Management Market by Mode of Delivery
10.2.6.6.3 Rest of Europe Medication Management Market by End-User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Medication Management Market Overview
10.3.2 Asia-Pacific Medication Management Market Forecasts and Analysis
10.3.3 Asia-Pacific Medication Management Market Forecasts and Analysis - By Software
10.3.4 Asia-Pacific Medication Management Market Forecasts and Analysis - By Mode of Delivery
10.3.5 Asia-Pacific Medication Management Market Forecasts and Analysis - By End-User
10.3.6 Asia-Pacific Medication Management Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Medication Management Market
10.3.6.1.1 Australia Medication Management Market by Software
10.3.6.1.2 Australia Medication Management Market by Mode of Delivery
10.3.6.1.3 Australia Medication Management Market by End-User
10.3.6.2 China Medication Management Market
10.3.6.2.1 China Medication Management Market by Software
10.3.6.2.2 China Medication Management Market by Mode of Delivery
10.3.6.2.3 China Medication Management Market by End-User
10.3.6.3 India Medication Management Market
10.3.6.3.1 India Medication Management Market by Software
10.3.6.3.2 India Medication Management Market by Mode of Delivery
10.3.6.3.3 India Medication Management Market by End-User
10.3.6.4 Japan Medication Management Market
10.3.6.4.1 Japan Medication Management Market by Software
10.3.6.4.2 Japan Medication Management Market by Mode of Delivery
10.3.6.4.3 Japan Medication Management Market by End-User
10.3.6.5 South Korea Medication Management Market
10.3.6.5.1 South Korea Medication Management Market by Software
10.3.6.5.2 South Korea Medication Management Market by Mode of Delivery
10.3.6.5.3 South Korea Medication Management Market by End-User
10.3.6.6 Rest of Asia-Pacific Medication Management Market
10.3.6.6.1 Rest of Asia-Pacific Medication Management Market by Software
10.3.6.6.2 Rest of Asia-Pacific Medication Management Market by Mode of Delivery
10.3.6.6.3 Rest of Asia-Pacific Medication Management Market by End-User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Medication Management Market Overview
10.4.2 Middle East and Africa Medication Management Market Forecasts and Analysis
10.4.3 Middle East and Africa Medication Management Market Forecasts and Analysis - By Software
10.4.4 Middle East and Africa Medication Management Market Forecasts and Analysis - By Mode of Delivery
10.4.5 Middle East and Africa Medication Management Market Forecasts and Analysis - By End-User
10.4.6 Middle East and Africa Medication Management Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Medication Management Market
10.4.6.1.1 South Africa Medication Management Market by Software
10.4.6.1.2 South Africa Medication Management Market by Mode of Delivery
10.4.6.1.3 South Africa Medication Management Market by End-User
10.4.6.2 Saudi Arabia Medication Management Market
10.4.6.2.1 Saudi Arabia Medication Management Market by Software
10.4.6.2.2 Saudi Arabia Medication Management Market by Mode of Delivery
10.4.6.2.3 Saudi Arabia Medication Management Market by End-User
10.4.6.3 U.A.E Medication Management Market
10.4.6.3.1 U.A.E Medication Management Market by Software
10.4.6.3.2 U.A.E Medication Management Market by Mode of Delivery
10.4.6.3.3 U.A.E Medication Management Market by End-User
10.4.6.4 Rest of Middle East and Africa Medication Management Market
10.4.6.4.1 Rest of Middle East and Africa Medication Management Market by Software
10.4.6.4.2 Rest of Middle East and Africa Medication Management Market by Mode of Delivery
10.4.6.4.3 Rest of Middle East and Africa Medication Management Market by End-User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Medication Management Market Overview
10.5.2 South and Central America Medication Management Market Forecasts and Analysis
10.5.3 South and Central America Medication Management Market Forecasts and Analysis - By Software
10.5.4 South and Central America Medication Management Market Forecasts and Analysis - By Mode of Delivery
10.5.5 South and Central America Medication Management Market Forecasts and Analysis - By End-User
10.5.6 South and Central America Medication Management Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Medication Management Market
10.5.6.1.1 Brazil Medication Management Market by Software
10.5.6.1.2 Brazil Medication Management Market by Mode of Delivery
10.5.6.1.3 Brazil Medication Management Market by End-User
10.5.6.2 Argentina Medication Management Market
10.5.6.2.1 Argentina Medication Management Market by Software
10.5.6.2.2 Argentina Medication Management Market by Mode of Delivery
10.5.6.2.3 Argentina Medication Management Market by End-User
10.5.6.3 Rest of South and Central America Medication Management Market
10.5.6.3.1 Rest of South and Central America Medication Management Market by Software
10.5.6.3.2 Rest of South and Central America Medication Management Market by Mode of Delivery
10.5.6.3.3 Rest of South and Central America Medication Management Market by End-User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL MEDICATION MANAGEMENT MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOINT VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. MEDICATION MANAGEMENT MARKET, KEY COMPANY PROFILES
13.1. SIEMENS AG
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. MCKESSON CORPORATION
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. OPTUM INC
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. CERNER CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. BD
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. QUADRAMED AFFINITY CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. OMNICELL, INC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. MEDICAL INFORMATION TECHNOLOGY, INC
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. TALYST, LLC
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SWISSLOG HOLDING LTD
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Siemens AG
2. McKesson Corporation
3. Optum Inc
4. Cerner Corporation
5. BD
6. QuadraMed Affinity Corporation
7. Omnicell, Inc
8. Medical Information Technology, Inc
9. Talyst, LLC
10. Swisslog Holding Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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