- +1-315-215-1633
- sales@thebrainyinsights.com
The global depression treatment market is expected to grow from USD 11.31 billion in 2022 to USD 16.14 billion by 2030, at a CAGR of 4.55% from 2022-2030. The North American depression treatment market is expected to maintain its dominance during the forecast period.
There are many types of mental illnesses, such as depression, schizophrenia, bipolar disorders, PTSD, anxiety disorders, addiction and eating disorders. Depression is a mental health condition defined by the elevation or lowering a person's mood. There are different kinds of depression disorders. Clinical depression, bipolar disorder, persistent depressive disorder, postpartum depression and others are all classified under depression. Depression is associated with sadness, hopelessness, loss of appetite, suicidal thoughts, loss of interest, and restlessness. It can severely impact a person's life and can lead to suicide in extreme cases. Depression is treatable. The diseases can be treated with therapies, drugs, or both. Depression treatment promotes mental well-being. The increasing prevalence of depression will propel the growth of the global depression treatment market.
Get an overview of this study by requesting a free sample
December 2022 - The FDA has approved VRAYLAR® (cariprazine) as an adjunctive therapy to antidepressants for treating major depressive disorder (MDD) in adults. AbbVie develops the drug. This additional medication offers individuals who have a partial response to antidepressant medicines a new choice, and it is supported by clinical data indicating efficacy and well-established tolerability.
December 2022 - The FDA has received a rolling submission of a new drug application for zuranolone for treating major depressive disorder and postpartum depression from the pharmaceutical business Sage Therapeutics and the biotech company Biogen. According to a news release from the firms, Zuranolone is being tested as a rapid-acting, once-daily, 14-day oral short-course treatment for people with MDD and PPD after showing sustained and quick relief of depression symptoms in the clinical research programme so far.
The increasing prevalence of depression, anxiety and other mental health concerns – the population has grown over the past few decades without an equal rise in human development indexes. A lack of proper education and access to basic human necessities like nutrition, clean water, a liveable space, sanitation, economic stability, and healthcare, among other things. Such conditions increase the risk of physical and mental health issues. Besides that, the modern world's intense competition and busy schedules have led to stressful lives. The contemporary lifestyle has witnessed a rise in the prevalence of depression and anxiety disorders. There are several factors which have contributed to this trend. The rising awareness about mental health, the development of infrastructure that offers treatment and a platform to share experiences have encouraged people to acknowledge and address their mental health without any embarrassment. The openness about mental health has enabled several individuals to come forward, which then reflects in the official medical figures of patients dealing with depression and other conditions. Earlier, mental health was not acknowledged as a real medical problem in society, and the victims were dismissed or judged, which can explain the low numbers being reported. The market for global depression treatment will be driven by the rising prevalence of depression, anxiety and other mental health concerns.
The number of persons seeking mental health has increased due to the rising understanding of mental diseases, their impact on the body, and how they affect a person's total well-being. These treatments are highly effective since they help people open up about their problems and seek professional assistance in dealing with them. The confidential nature of treatment accords comforts to the patients. Depression treatment reduces stress and promotes mental well-being by initiating self-care habits and developing a positive mindset. It starts a virtuous cycle of better sleep, a good diet, improved relationships and enhanced mood, enabling the patients to manage and control their thoughts, emotions and life. The increase will also influence the rising number of people looking to improve their mental wellness in the unemployed and ageing population. High-profile public figures advocate mental health as a crucial component of general well-being to encourage others to be honest about their issues while - noting the severe repercussions of mental illness and how anybody can develop it. Open conversations about it are lessening the stigma associated with mental health. Governments, NGOs, businesses, civil society groups, and HNI all work to advance mental health through their respective projects or partnerships with governmental bodies and NGOs.
The drugs or therapies are expensive – the mismatch between the demand and supply in the depression treatment market has increased the prices of diagnostics, antidepressant medicines and therapies. The world's affluent population can access and afford these treatments. However, most of the mental health population cannot afford the drugs and therapies, considering they are aware of their mental health. The adverse effects of certain medications have rendered a large population sceptical about the treatments and, therefore, will restraint the market's growth.
Government and civil society initiatives promote mental well-being – the factors hindering access to mental well-being after being identified by the government to promote mental well-being. The factors include lack of access, unaffordability, unawareness and social restrictions. The government is targeting each one of these factors with a multi-pronged approach. The initiatives aim to create mental health awareness and remove social stigma -. The government is partnering with influential people to increase its reach. They offer free consultations through toll-free numbers and websites as a part of their mental well-being schemes. The government is offering subsidized or free treatments, drugs and other therapies to make them accessible and affordable. They are using technology to reach the last mile by providing telemedicine. Such a comprehensive and holistic approach will offer lucrative opportunities for the market. The government of India's MANAS initiative is a case in point.
Lack of qualified, trained and skilled medical professionals – Risks related to mental diseases can spread over to include serious issues with physical, emotional, and behavioural health. These significantly impact the patient's life if not diagnosed and treated in time. However, the number of qualified and trained professionals required to diagnose and treat these conditions is not keeping pace with the rising number of patients seeking treatment. The insufficient allocation of healthcare funds translates to a large amount diverted towards developing emergency and trauma care or other healthcare services that are not necessarily dedicated to mental health. Such inadequacy of funds and lack of human resources paves the way for private players to exploit the potential market gap. The prices are exorbitant and are widely inaccessible to the most vulnerable and marginalized demographic. The factors, including the lack of dedicated mental health infrastructure & skilled professionals, the dominance of profit-making private players, and the inaccessibility and unaffordability of depression treatment will limit the market's growth.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the most significant global depression treatment market, with a 44.11% market revenue share in 2022. Due to the increased adoption of cutting-edge healthcare technology pertinent to mental well-being, which has led to better drugs and therapies rooted in scientific research, North America now dominates the global depression treatment. The region's expanding depression treatment market results from the rising prevalence of mental illness. The increasing prevalence can be attributed to stressful work lives, social media, social isolation of the younger population, failed relationships, unemployed and much more. The market in the area is also being driven by awareness about depression, anxiety, PTSD and substance abuse and the need to seek treatment for them. The American government is consciously increasing efforts towards the betterment of veterans dealing with PTSD in large numbers. Substance abuse, including drugs, alcohol and smoking, has also prompted the federal authorities to develop the mental well-being infrastructure of the country. The market is expanding due to of MNCs, other commercial enterprises, governmental organizations, and private homes increasingly promoting depression treatment. The expansion of the depression treatment industry in the area will be aided by the region's well-established healthcare infrastructure and attractive reimbursement regulations. The promotion of mental well-being by athletes, social media influencers, public figures, and other celebrities has helped the business expand. The market will grow due to the increasing number of wellness facilities that provide drugs, therapies and treatments for mental wellness.
North America Region Depression Treatment Market Share in 2022 - 44.11%
www.thebrainyinsights.com
Check the geographical analysis of this market by requesting a free sample
The indication segment is divided into major depression, bipolar disorder, postpartum depression, situational depression, treatment-resistant depression, persistent depressive disorder, seasonal affective disorder, premenstrual dysphoric disorder, atypical depression, anxiety disorder and others. The major depression segment dominated the market with a market share of around 42% in 2022. Major depression is also termed clinical depression. The symptoms include regular spells of sadness. The individual losses interest in activities. There is a loss of appetite, sadness, low self-esteem, sleep loss, and other behavioural changes. There is hopelessness, loss of concentration, and restlessness. The causes can be environmental, social, or psychological. It is a widespread condition prevalent worldwide. For instance, there are around 1 million cases annually in India.
The drug class segment is divided into bupropion, monoamine oxidase inhibitors, trazodone, antipsychotics, mirtazapine, antidepressants, anxiolytics, anticonvulsants, noradrenergic agents and others. The antidepressants segment dominated the market with a market share of around 45% in 2022. Antidepressants have a wide range of applications. They can alleviate the symptoms of several types of depression, including clinical and seasonal. They are also helpful in treating a variety of anxiety disorders. Selective norepinephrine and serotonin reuptake inhibitors are examples of antidepressants. They are highly effective in relieving symptoms, even with severe depression. They are widely adopted in medicine. Several governments and civil society initiatives have responsibly increased accessibility and affordability to promote mental well-being.
The distribution channel segment is divided into hospitals, drug stores, speciality clinics, retail pharmacies, e-commerce, and others. The retail pharmacies segment dominated the market with a market share of around 59% in 2022. The extensive network of retail pharmacies offering prescription-based depression treatment drugs will propel the segment's growth. The vast area coverage and last-mile delivery provided by retail pharmacies contributed to the rising accessibility of medications for all seeking them. The retail pharmacies are convenient and accessible. These pharmacies offer doorstep delivery, which makes it comfortable for the patients to access them.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 11.31 Billion |
| Market size value in 2030 | USD 16.14 Billion |
| CAGR (2022 to 2030) | 4.55% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Regional Segments | The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. |
| Segments | The research segment is based on the indication, drug class and distribution channel. |
As per The Brainy Insights, the size of the depression treatment market was valued at USD 11.31 billion in 2022 to USD 16.14 billion by 2030.
Global depression treatment market is growing at a CAGR of 4.55% during the forecast period 2022-2030.
The market's growth will be influenced by the increasing prevalence of depression, anxiety and other mental health concerns.
The drugs or therapies are expensive and that could hamper the 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 Indication
4.3.2. Market Attractiveness Analysis by Drug Class
4.3.3. Market Attractiveness Analysis by Distribution Channel
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. The increasing prevalence of depression, anxiety and other mental health concerns
5.3. Restraints
5.3.1. The drugs or therapies are expensive
5.4. Opportunities
5.4.1. Government and civil society initiatives promoting mental well-being
5.5. Challenges
5.5.1. Lack of qualified, trained and skilled medical professionals
6. Global Depression Treatment Market Analysis and Forecast, By Indication
6.1. Segment Overview
6.2. Major Depression
6.3. Bipolar Disorder
6.4. Postpartum Depression
6.5. Situational Depression
6.6. Treatment-Resistant Depression
6.7. Persistent Depressive Disorder
6.8. Seasonal Affective Disorder
6.9. Premenstrual Dysphoric Disorder
6.10. Atypical Depression
6.11. Anxiety Disorder
6.12. Others
7. Global Depression Treatment Market Analysis and Forecast, By Drug Class
7.1. Segment Overview
7.2. Bupropion
7.3. Monoamine Oxidase Inhibitors
7.4. Trazodone
7.5. Antipsychotics
7.6. Mirtazapine
7.7. Antidepressants
7.8. Anxiolytics
7.9. Anticonvulsants
7.10. Noradrenergic Agents
7.11. Others
8. Global Depression Treatment Market Analysis and Forecast, By Distribution Channel
8.1. Segment Overview
8.2. Hospitals
8.3. Drug Stores
8.4. Specialty Clinics
8.5. Retail Pharmacies
8.6. E-Commerce
8.7. Others
9. Global Depression Treatment 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 Depression Treatment Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Depression Treatment 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. Drug Class Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Abbott Laboratories
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. AbbVie Inc.
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. AstraZeneca
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. Bristol-Myers Squibb
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. Cipla Limited
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. Eli lily and Company
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. GlaxoSmithKline PLC
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. Johnsons & Johnson
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. Merck and Co. Inc.
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. Zydus Lifesciences
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
List of Table
1. Global Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
2. Global Major Depression Treatment Market, By Region, 2019-2030 (USD Billion)
3. Global Bipolar Disorder Depression Treatment Market, By Region, 2019-2030 (USD Billion)
4. Global Postpartum Depression Treatment Market, By Region, 2019-2030 (USD Billion)
5. Global Situational Depression Treatment Market, By Region, 2019-2030 (USD Billion)
6. Global Treatment-Resistant Depression Treatment Market, By Region, 2019-2030 (USD Billion)
7. Global Persistent Depressive Disorder Depression Treatment Market, By Region, 2019-2030 (USD Billion)
8. Global Seasonal Affective Disorder Depression Treatment Market, By Region, 2019-2030 (USD Billion)
9. Global Premenstrual Dysphoric Disorder Depression Treatment Market, By Region, 2019-2030 (USD Billion)
10. Global Atypical Depression Treatment Market, By Region, 2019-2030 (USD Billion)
11. Global Anxiety Disorder Depression Treatment Market, By Region, 2019-2030 (USD Billion)
12. Global Others Depression Treatment Market, By Region, 2019-2030 (USD Billion)
13. Global Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
14. Global Bupropion Depression Treatment Market, By Region, 2019-2030 (USD Billion)
15. Global Monoamine Oxidase Inhibitors Depression Treatment Market, By Region, 2019-2030 (USD Billion)
16. Global Trazodone Depression Treatment Market, By Region, 2019-2030 (USD Billion)
17. Global Antipsychotics Depression Treatment Market, By Region, 2019-2030 (USD Billion)
18. Global Mirtazapine Depression Treatment Market, By Region, 2019-2030 (USD Billion)
19. Global Antidepressants Depression Treatment Market, By Region, 2019-2030 (USD Billion)
20. Global Anxiolytics Depression Treatment Market, By Region, 2019-2030 (USD Billion)
21. Global Anticonvulsants Depression Treatment Market, By Region, 2019-2030 (USD Billion)
22. Global Noradrenergic Agents Depression Treatment Market, By Region, 2019-2030 (USD Billion)
23. Global Others Depression Treatment Market, By Region, 2019-2030 (USD Billion)
24. Global Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
25. Global Hospitals Depression Treatment Market, By Region, 2019-2030 (USD Billion)
26. Global Drug Stores Depression Treatment Market, By Region, 2019-2030 (USD Billion)
27. Global Specialty Clinics Depression Treatment Market, By Region, 2019-2030 (USD Billion)
28. Global Retail Pharmacies Depression Treatment Market, By Region, 2019-2030 (USD Billion)
29. Global E-Commerce Depression Treatment Market, By Region, 2019-2030 (USD Billion)
30. Global Others Depression Treatment Market, By Region, 2019-2030 (USD Billion)
31. Global Depression Treatment Market, By Region, 2019-2030 (USD Billion)
32. North America Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
33. North America Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
34. North America Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
35. U.S. Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
36. U.S. Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
37. U.S. Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
38. Canada Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
39. Canada Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
40. Canada Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
41. Mexico Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
42. Mexico Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
43. Mexico Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
44. Europe Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
45. Europe Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
46. Europe Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
47. Germany Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
48. Germany Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
49. Germany Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
50. France Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
51. France Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
52. France Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
53. U.K. Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
54. U.K. Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
55. U.K. Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
56. Italy Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
57. Italy Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
58. Italy Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
59. Spain Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
60. Spain Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
61. Spain Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
62. Asia Pacific Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
63. Asia Pacific Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
64. Asia Pacific Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
65. Japan Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
66. Japan Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
67. Japan Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
68. China Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
69. China Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
70. China Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
71. India Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
72. India Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
73. India Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
74. South America Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
75. South America Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
76. South America Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
77. Brazil Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
78. Brazil Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
79. Brazil Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
80. Middle East and Africa Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
81. Middle East and Africa Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
82. Middle East and Africa Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
83. UAE Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
84. UAE Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
85. UAE Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
86. South Africa Depression Treatment Market, By Indication, 2019-2030 (USD Billion)
87. South Africa Depression Treatment Market, By Drug Class, 2019-2030 (USD Billion)
88. South Africa Depression Treatment Market, By Distribution Channel, 2019-2030 (USD Billion)
List of Figures
1. Global Depression Treatment Market Segmentation
2. Depression Treatment 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 Depression Treatment Market Attractiveness Analysis by Indication
9. Global Depression Treatment Market Attractiveness Analysis by Drug Class
10. Global Depression Treatment Market Attractiveness Analysis by Distribution Channel
11. Global Depression Treatment Market Attractiveness Analysis by Region
12. Global Depression Treatment Market: Dynamics
13. Global Depression Treatment Market Share by Indication (2022 & 2030)
14. Global Depression Treatment Market Share by Drug Class (2022 & 2030)
15. Global Depression Treatment Market Share by Distribution Channel (2022 & 2030)
16. Global Depression Treatment Market Share by Regions (2022 & 2030)
17. Global Depression Treatment Market Share by Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global depression treatment market based on below mentioned segments:
Depression Treatment Market by Indication:
Depression Treatment Market by Drug Class:
Depression Treatment Market by Distribution Channel:
Depression Treatment Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
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:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
Free Customization
Fortune 500 Clients
Free Yearly Update On Purchase Of Multi/Corporate License
Companies Served Till Date
