Referral Management Market - Size and Forecast [2024-2031]
The Referral Management Market is expected to register a CAGR of 12.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The Referral Management Market report covers analysis By Type, Component, Delivery Mode, and End User. Geographically, the market is segmented into North America, Europe, Asia Pacific, and South and Central America
Purpose of the ReportThe report Referral Management Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Referral Management Market Segmentation
Type- Professional-Referral
- Self-Referral
- Third Party-Referral
- Software
- Services
- Post-Sale and Maintenance
- On-Premise
- Cloud-Based
- Web-Based
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Referral Management Market Growth Drivers- Value-based Care Expands Referral Market: Value-based care mostly enters the referral management market as value-based care increasingly focuses more on provider volume and patient outcomes. For example, more focus is currently placed on referring patients with better healthcare services than the volume it does. This makes them need efficient referral processes for coordination of care. This has expanded the size of the market since healthcare systems seek solutions for efficient referral management. Market reports indicate a perfect correlation between proper referral management and improved patient satisfaction, making the referral management market all-important in the emergent healthcare landscape, thus showing substantial growth in the market.
- Health IT Solutions Drive Referral Growth: Technology advancements in health IT solutions, encompassing Electronic Health Records (EHR) and integrated referral platforms, are driving market expansion in the referral management sector. Within the global market, as healthcare organizations look to better the interoperability and the patient-care domains, such technologies are increasingly adopted across industries. Sophisticated referral management systems enhance provider-to-provider communication, optimizing workflow patterns, and thereby increasing its market shares. This trend is in line with broader and ongoing trends within the healthcare markets, which are increasingly digitizing healthcare.
- Patient Engagement Fuels Referral Management: Patient engagement is one of the factors that significantly contribute to market trends in referral management. As organizations realize their need to engage patients in managing their care, there is increased demand for tools that facilitate communication while also ensuring greater transparency. The increasing demand, in turn, affects market trends; hence more investments are directed towards solutions that enhance patient experience. Therefore, market reports conclude that companies that offer efficient referral management solutions get a competitive advantage that enhances their market share and the overall market overview.
- AI and Machine Learning Enhance Efficiency: The referral management market increasingly uses advanced technologies, including AI and machine learning, to improve processes for better patient outcomes. In other words, it enhances analytics capabilities related to data to make the right decisions. The dynamics of the market show that the main stakeholders are concentrating on integrated platforms as a means to ensure efficiency. Opportunities arise through innovation; however, various issues such as security and data privacy require strong market policies to achieve this.
- Patient-Centered Care Transforms Referral Management: It has been observed in this referral management market that with the integration of patient-centered care, healthcare providers are now transforming their focus towards bettering patient experiences and outcomes. The expectation of a seamless transition in care and individualized services by the consumers drives the rise of these. Through PEST analysis, it was seen that policy changes to favor value-based care are going to shape this trend. Key players are focusing on the market strategies of developing the communication process between the providers and enhancing collaboration among them to achieve strategic intent while handling regulatory complexities to enhance the engagement of the patient.
- Telehealth Growth Influences Referral Management: The growth of telehealth services, especially in the post-pandemic period, significantly influences referral management. Patients are adopting virtual consultations, thus compelling a shift in the way referrals are managed. Market dynamics involve changing with the times to stay in competition. SWOT analysis through this perspective indicates strengths by flexibility and accessibility while remaining a challenge to integrate telehealth into the existing referral system. Market strategies by key players involve innovative thoughts on how to capitalize on rising demand.
- Digital Transformation Boosts Referral Market: The increasing digital transformation in healthcare opens huge growth prospects in the market for referral management. The implementation of electronic health systems in wider scales by hospitals would require adequate referral management solutions to make the healthcare workflow agile. Companies specializing in advanced digital solutions would benefit from this phenomenon. A competitive analysis of the industry landscape will identify voids in innovation and potential leverage in the North American market, given the surge in demand for agile healthcare workflows.
- Telemedicine and Referral Systems Growth: One segment that the referral management market will certainly tag onto its virtual care platforms is area telemedicine, which promises to be a significant opportunity. As care moves more toward digital-first, a holistic referral system will be important in coordinating the patient's full course of care. Players who position themselves at this juncture of telemedicine and referral management will be well-positioned to capture the growth in North America. Monitoring the industry landscape will continue to place companies out front of this ever-evolving market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Referral Management Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Referral Management Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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.
Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Key companies in this market are: Advisory Board, Allscripts Healthcare Solutions Inc, CERNER CORPORATION, Eceptionist, eHealth Technologies, Harris Corporation, KYRUUS, McKesson Corporation, REFERRALMD
Key future trends in this market are - Increase in healthcare digitization, Improved patient coordination, Demand for automated systems
The Referral Management Market is expected to register a CAGR of 12.1% from 2023-2031.
The major factors impacting the Referral Management Market are: Increasing Demand for Value-Based Care, Rising Adoption of Health IT Solutions, and Growing Focus on Patient Engagement
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Referral Management Market - By Type
1.3.2 Referral Management Market - By Component
1.3.3 Referral Management Market - By Delivery Mode
1.3.4 Referral Management Market - By End User
1.3.5 Referral Management Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. REFERRAL 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. REFERRAL 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. REFERRAL MANAGEMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. REFERRAL MANAGEMENT - GLOBAL MARKET OVERVIEW
6.2. REFERRAL MANAGEMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. REFERRAL MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. PROFESSIONAL-REFERRAL
7.3.1. Overview
7.3.2. Professional-Referral Market Forecast and Analysis
7.4. SELF-REFERRAL
7.4.1. Overview
7.4.2. Self-Referral Market Forecast and Analysis
7.5. THIRD PARTY-REFERRAL
7.5.1. Overview
7.5.2. Third Party-Referral Market Forecast and Analysis
8. REFERRAL MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
8.1. OVERVIEW
8.2. COMPONENT MARKET FORECASTS AND ANALYSIS
8.3. SOFTWARE
8.3.1. Overview
8.3.2. Software Market Forecast and Analysis
8.3.3. Integrated Software Market
8.3.3.1. Overview
8.3.3.2. Integrated Software Market Forecast and Analysis
8.3.4. Standalone Software Market
8.3.4.1. Overview
8.3.4.2. Standalone Software Market Forecast and Analysis
8.4. SERVICES
8.4.1. Overview
8.4.2. Services Market Forecast and Analysis
8.4.3. Implementation Market
8.4.3.1. Overview
8.4.3.2. Implementation Market Forecast and Analysis
8.4.4. Consulting Market
8.4.4.1. Overview
8.4.4.2. Consulting Market Forecast and Analysis
8.4.5. Training and Education Market
8.4.5.1. Overview
8.4.5.2. Training and Education Market Forecast and Analysis
8.5. POST-SALE AND MAINTENANCE
8.5.1. Overview
8.5.2. Post-Sale and Maintenance Market Forecast and Analysis
9. REFERRAL MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - DELIVERY MODE
9.1. OVERVIEW
9.2. DELIVERY MODE MARKET FORECASTS AND ANALYSIS
9.3. ON-PREMISE
9.3.1. Overview
9.3.2. On-Premise Market Forecast and Analysis
9.4. CLOUD-BASED
9.4.1. Overview
9.4.2. Cloud-Based Market Forecast and Analysis
9.5. WEB-BASED
9.5.1. Overview
9.5.2. Web-Based Market Forecast and Analysis
10. REFERRAL MANAGEMENT MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. PAYERS
10.3.1. Overview
10.3.2. Payers Market Forecast and Analysis
10.4. PROVIDERS
10.4.1. Overview
10.4.2. Providers Market Forecast and Analysis
10.5. PATIENTS
10.5.1. Overview
10.5.2. Patients Market Forecast and Analysis
10.6. OTHER END USERS
10.6.1. Overview
10.6.2. Other End Users Market Forecast and Analysis
11. REFERRAL MANAGEMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Referral Management Market Overview
11.1.2 North America Referral Management Market Forecasts and Analysis
11.1.3 North America Referral Management Market Forecasts and Analysis - By Type
11.1.4 North America Referral Management Market Forecasts and Analysis - By Component
11.1.5 North America Referral Management Market Forecasts and Analysis - By Delivery Mode
11.1.6 North America Referral Management Market Forecasts and Analysis - By End User
11.1.7 North America Referral Management Market Forecasts and Analysis - By Countries
11.1.7.1 United States Referral Management Market
11.1.7.1.1 United States Referral Management Market by Type
11.1.7.1.2 United States Referral Management Market by Component
11.1.7.1.3 United States Referral Management Market by Delivery Mode
11.1.7.1.4 United States Referral Management Market by End User
11.1.7.2 Canada Referral Management Market
11.1.7.2.1 Canada Referral Management Market by Type
11.1.7.2.2 Canada Referral Management Market by Component
11.1.7.2.3 Canada Referral Management Market by Delivery Mode
11.1.7.2.4 Canada Referral Management Market by End User
11.1.7.3 Mexico Referral Management Market
11.1.7.3.1 Mexico Referral Management Market by Type
11.1.7.3.2 Mexico Referral Management Market by Component
11.1.7.3.3 Mexico Referral Management Market by Delivery Mode
11.1.7.3.4 Mexico Referral Management Market by End User
11.2. EUROPE
11.2.1 Europe Referral Management Market Overview
11.2.2 Europe Referral Management Market Forecasts and Analysis
11.2.3 Europe Referral Management Market Forecasts and Analysis - By Type
11.2.4 Europe Referral Management Market Forecasts and Analysis - By Component
11.2.5 Europe Referral Management Market Forecasts and Analysis - By Delivery Mode
11.2.6 Europe Referral Management Market Forecasts and Analysis - By End User
11.2.7 Europe Referral Management Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Referral Management Market
11.2.7.1.1 Germany Referral Management Market by Type
11.2.7.1.2 Germany Referral Management Market by Component
11.2.7.1.3 Germany Referral Management Market by Delivery Mode
11.2.7.1.4 Germany Referral Management Market by End User
11.2.7.2 France Referral Management Market
11.2.7.2.1 France Referral Management Market by Type
11.2.7.2.2 France Referral Management Market by Component
11.2.7.2.3 France Referral Management Market by Delivery Mode
11.2.7.2.4 France Referral Management Market by End User
11.2.7.3 Italy Referral Management Market
11.2.7.3.1 Italy Referral Management Market by Type
11.2.7.3.2 Italy Referral Management Market by Component
11.2.7.3.3 Italy Referral Management Market by Delivery Mode
11.2.7.3.4 Italy Referral Management Market by End User
11.2.7.4 Spain Referral Management Market
11.2.7.4.1 Spain Referral Management Market by Type
11.2.7.4.2 Spain Referral Management Market by Component
11.2.7.4.3 Spain Referral Management Market by Delivery Mode
11.2.7.4.4 Spain Referral Management Market by End User
11.2.7.5 United Kingdom Referral Management Market
11.2.7.5.1 United Kingdom Referral Management Market by Type
11.2.7.5.2 United Kingdom Referral Management Market by Component
11.2.7.5.3 United Kingdom Referral Management Market by Delivery Mode
11.2.7.5.4 United Kingdom Referral Management Market by End User
11.2.7.6 Rest of Europe Referral Management Market
11.2.7.6.1 Rest of Europe Referral Management Market by Type
11.2.7.6.2 Rest of Europe Referral Management Market by Component
11.2.7.6.3 Rest of Europe Referral Management Market by Delivery Mode
11.2.7.6.4 Rest of Europe Referral Management Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Referral Management Market Overview
11.3.2 Asia-Pacific Referral Management Market Forecasts and Analysis
11.3.3 Asia-Pacific Referral Management Market Forecasts and Analysis - By Type
11.3.4 Asia-Pacific Referral Management Market Forecasts and Analysis - By Component
11.3.5 Asia-Pacific Referral Management Market Forecasts and Analysis - By Delivery Mode
11.3.6 Asia-Pacific Referral Management Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Referral Management Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Referral Management Market
11.3.7.1.1 Australia Referral Management Market by Type
11.3.7.1.2 Australia Referral Management Market by Component
11.3.7.1.3 Australia Referral Management Market by Delivery Mode
11.3.7.1.4 Australia Referral Management Market by End User
11.3.7.2 China Referral Management Market
11.3.7.2.1 China Referral Management Market by Type
11.3.7.2.2 China Referral Management Market by Component
11.3.7.2.3 China Referral Management Market by Delivery Mode
11.3.7.2.4 China Referral Management Market by End User
11.3.7.3 India Referral Management Market
11.3.7.3.1 India Referral Management Market by Type
11.3.7.3.2 India Referral Management Market by Component
11.3.7.3.3 India Referral Management Market by Delivery Mode
11.3.7.3.4 India Referral Management Market by End User
11.3.7.4 Japan Referral Management Market
11.3.7.4.1 Japan Referral Management Market by Type
11.3.7.4.2 Japan Referral Management Market by Component
11.3.7.4.3 Japan Referral Management Market by Delivery Mode
11.3.7.4.4 Japan Referral Management Market by End User
11.3.7.5 South Korea Referral Management Market
11.3.7.5.1 South Korea Referral Management Market by Type
11.3.7.5.2 South Korea Referral Management Market by Component
11.3.7.5.3 South Korea Referral Management Market by Delivery Mode
11.3.7.5.4 South Korea Referral Management Market by End User
11.3.7.6 Rest of Asia-Pacific Referral Management Market
11.3.7.6.1 Rest of Asia-Pacific Referral Management Market by Type
11.3.7.6.2 Rest of Asia-Pacific Referral Management Market by Component
11.3.7.6.3 Rest of Asia-Pacific Referral Management Market by Delivery Mode
11.3.7.6.4 Rest of Asia-Pacific Referral Management Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Referral Management Market Overview
11.4.2 Middle East and Africa Referral Management Market Forecasts and Analysis
11.4.3 Middle East and Africa Referral Management Market Forecasts and Analysis - By Type
11.4.4 Middle East and Africa Referral Management Market Forecasts and Analysis - By Component
11.4.5 Middle East and Africa Referral Management Market Forecasts and Analysis - By Delivery Mode
11.4.6 Middle East and Africa Referral Management Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Referral Management Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Referral Management Market
11.4.7.1.1 South Africa Referral Management Market by Type
11.4.7.1.2 South Africa Referral Management Market by Component
11.4.7.1.3 South Africa Referral Management Market by Delivery Mode
11.4.7.1.4 South Africa Referral Management Market by End User
11.4.7.2 Saudi Arabia Referral Management Market
11.4.7.2.1 Saudi Arabia Referral Management Market by Type
11.4.7.2.2 Saudi Arabia Referral Management Market by Component
11.4.7.2.3 Saudi Arabia Referral Management Market by Delivery Mode
11.4.7.2.4 Saudi Arabia Referral Management Market by End User
11.4.7.3 U.A.E Referral Management Market
11.4.7.3.1 U.A.E Referral Management Market by Type
11.4.7.3.2 U.A.E Referral Management Market by Component
11.4.7.3.3 U.A.E Referral Management Market by Delivery Mode
11.4.7.3.4 U.A.E Referral Management Market by End User
11.4.7.4 Rest of Middle East and Africa Referral Management Market
11.4.7.4.1 Rest of Middle East and Africa Referral Management Market by Type
11.4.7.4.2 Rest of Middle East and Africa Referral Management Market by Component
11.4.7.4.3 Rest of Middle East and Africa Referral Management Market by Delivery Mode
11.4.7.4.4 Rest of Middle East and Africa Referral Management Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Referral Management Market Overview
11.5.2 South and Central America Referral Management Market Forecasts and Analysis
11.5.3 South and Central America Referral Management Market Forecasts and Analysis - By Type
11.5.4 South and Central America Referral Management Market Forecasts and Analysis - By Component
11.5.5 South and Central America Referral Management Market Forecasts and Analysis - By Delivery Mode
11.5.6 South and Central America Referral Management Market Forecasts and Analysis - By End User
11.5.7 South and Central America Referral Management Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Referral Management Market
11.5.7.1.1 Brazil Referral Management Market by Type
11.5.7.1.2 Brazil Referral Management Market by Component
11.5.7.1.3 Brazil Referral Management Market by Delivery Mode
11.5.7.1.4 Brazil Referral Management Market by End User
11.5.7.2 Argentina Referral Management Market
11.5.7.2.1 Argentina Referral Management Market by Type
11.5.7.2.2 Argentina Referral Management Market by Component
11.5.7.2.3 Argentina Referral Management Market by Delivery Mode
11.5.7.2.4 Argentina Referral Management Market by End User
11.5.7.3 Rest of South and Central America Referral Management Market
11.5.7.3.1 Rest of South and Central America Referral Management Market by Type
11.5.7.3.2 Rest of South and Central America Referral Management Market by Component
11.5.7.3.3 Rest of South and Central America Referral Management Market by Delivery Mode
11.5.7.3.4 Rest of South and Central America Referral Management Market by End User
12. IMPACT OF COVID-19 PANDEMIC ON GLOBAL REFERRAL MANAGEMENT MARKET
12.1 North America
12.2 Europe
12.3 Asia-Pacific
12.4 Middle East and Africa
12.5 South and Central America
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. REFERRAL MANAGEMENT MARKET, KEY COMPANY PROFILES
14.1. ADVISORY BOARD
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. ALLSCRIPTS HEALTHCARE SOLUTIONS, INC.
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. CERNER CORPORATION
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. ECEPTIONIST
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. EHEALTH TECHNOLOGIES
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. HARRIS CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. KYRUUS
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. MCKESSON CORPORATION
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. REFERRALMD
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. SCI SOLUTIONS, INC.
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
The List of Companies
1. Advisory Board
2. Allscripts Healthcare Solutions, Inc.
3. CERNER CORPORATION
4. Eceptionist
5. eHealth Technologies
6. Harris Corporation
7. KYRUUS
8. McKesson Corporation
9. REFERRALMD
10. SCI Solutions, Inc.
11. KEET HEALTH
12. FIBROBLAST, INC.
13. REFERWELL
14. ARCADIA
15. BLOCKIT, INC.
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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