Home Medical Equipment Market

Home Medical Equipment Market Size by Functionality (Therapeutic Equipment, Patient Monitoring Equipment, Mobility Assist & Patient Support Equipment), Distribution Channel (Pharmacies, Retail Medical Stores and Online Retailers), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12571
  • Published Date: Oct, 2021
  • Pages: 110
  • Category: Healthcare
  • Format: PDF
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Global home medical equipment market is projected to reach USD 53.14 billion by 2028, at a CAGR of 6.16% from 2021 to 2028. This is because of the growing geriatric population and technological advancements in the healthcare field. Growing healthcare expenses and increasing incidences of chronic diseases often fuel the market. In addition, the need for affordable treatment choices in healthcare is also projected to fuel global home medical equipment market growth over the forecast timeframe.

Market Overview:

Home medical equipment is a type of devices used by patients whose treatment is handled by a non-professional caregiver or family member from a home or another private facility. This is often referred to as "durable" medical equipment (DME), since it is built to survive repeated usage by non-professionals or the patient, and is suitable for home-usage. It is any device that provides an individual therapeutic advantages owing to some medical problems and/or illness. These devices provide patients within their home with a secure, convenient, cost-efficient and suitable environment. Numerous equipment, such as infusion pumps, wheelchairs, apnea monitors, glucose meters, and cannula are used for home patient care. Glucose meters or glucometers, for example, are regularly used in the household to measure blood glucose levels for diabetes. This equipment mainly include therapeutic equipment, patient monitoring equipment and mobility assist & patient support equipment. Therapeutic equipment mainly includes home respiratory therapy equipment, home dialysis equipment, home IV equipment, and other home therapeutic equipment. Patient monitoring equipment mainly consist of blood glucose monitors, holter monitors, blood pressure monitors, peak flow meters, heart rate monitors, apnea monitors, baby monitors, coagulation monitors and electronic thermometers. Mobility assist & patient support equipment mainly includes wheelchairs, walking assist devices, mobility scooters, medical furniture, and bathroom safety equipment.

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Market Dynamics:

Drivers:
  • Increase in prevalence of chronic diseases

Huge rise in the prevalence of chronic diseases has spurred home healthcare practices. Individuals suffering from chronic illnesses such as diabetes and hypertension are searching for cost-effective medical treatment that will not affect quality of safety and care. Home medical equipment approved by regulatory authorities gain broad adoption in terms of convenience and cost factor. Thus, driving the growth of the global home medical equipment market.

Restraints:
  • Limited expertise

Limited expertise for home consumers and problems related to the usage of medical equipment may hinder the growth of the global home medical equipment market.

Opportunities:
  • Technological advancements

A key factor providing opportunity to the market is technical developments in home medical equipment. Because of technical advancements combined with technological knowledge among individuals, usage of home medical equipment is increasingly pacing. Adoption of expensive technological home medical equipment requires one-time savings to cover losses incurred as a consequence of frequent hospital visits. These factors will provide huge opportunity to the market.

Segmentation Analysis:

The global home medical equipment market has been segmented based on functionality, distribution channel and regions.

  • The functionality segment is divided into therapeutic equipment, patient monitoring equipment, mobility assist & patient support equipment. The therapeutic equipment segment held the largest market share of around 40.2% in 2020. This is due to the increased use of home care therapeutic equipment such as home respiratory therapy products, and ventilators.
  • The distribution channel segment includes online stores and retail outlets. The online stores segment is expected to grow at the highest CAGR of around 7.5% over the forecast period because of the growth of the industry and the growing desire for convenience, the potential for healthcare companies to enter into the e-commerce sector is massive.
Regional Segmentation Analysis:

The regions evaluated for the home medical equipment market include Europe, North America, Middle East and Africa, South America and Asia Pacific. The North America region emerged as the largest market for the home medical equipment, with a 37.4% share of market revenue in 2020.

  • This is due to the increase of chronic diseases in this region such as asthma, diabetes, high blood pressure and others.
  • Asia Pacific is anticipated to grow at the highest CAGR over the forecast period due to an increase in disposable income, an increase in awareness of homecare medical devices' benefits among people.

North America Home Medical Equipment Market Share in 2020- 37.4%

 

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Competitive Analysis:

Smiths Medical, a major manufacturer of medical devices has collaborated with Medline Industries to distribute the Portexacapella positive expiratory pressure therapy device. The distribution partnership would aim to provide better access for patients within home care settings to Smiths Medical’s proprietary acapella devices.

  • Abbott
  • B. Braun Melsungen AG
  • Baxter
  • Hill-Rom Holdings Incorporated
  • Medline Industry Inc.
  • Philips Healthcare
  • ResMed
  • Stryker
  • Sunrise Medical LLA.

Key Target Audience

  • Home Medical Equipment Manufacturers
  • Home Medical Equipment Raw Material Providers
  • Traders and Distributors
  • Research and Consulting Firms
  • Government Authorities and R&D Institutions

Report Description

  • Global Home Medical Equipment Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global home medical equipment market is based on revenue (USD billion). The report incorporates the market study on the basis of revenue. The study covers the market share revenue/market share for each of the segments, regions and countries catering to global home medical equipment market. The regions evaluated for the home medical equipment market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of home medical equipment and regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global home medical equipment market. This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global home medical equipment market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development &innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global home medical equipment market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the home medical equipment market was valued at USD 31.78 billion in 2020 and is anticipated to reach USD 53.14 billion by 2028.

Global home medical equipment market is growing at a CAGR of 6.16% during the forecast period 2021-2028.

The global home medical equipment market has been segmented based on functionality, distribution channel and regions. The therapeutic equipment segment held the largest market share in 2020.

The North America region emerged as the largest market for the home medical equipment.

Increase in prevalence of chronic diseases is the key driving factor for the home medical equipment market.

Limited expertise could hamper the market growth.

Technological advancements will provide huge opportunities to the market.

Key players are Abbott, B. Braun Melsungen AG, Baxter, Hill-Rom Holdings Incorporated, Medline Industry Inc., Philips Healthcare, ResMed

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 Functionality
          4.3.2. Market Attractiveness Analysis By Distribution Channel
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increase in Prevalence of Chronic Diseases
    5.3. Restrains
          5.3.1. Limited Expertise
    5.4. Opportunities
          5.4.1. Technological Advancements

6. Global Home Medical Equipment Market Analysis and Forecast, By Functionality
    6.1. Segment Overview
    6.2. Therapeutic Equipment
    6.3. Patient Monitoring Equipment
    6.4. Mobility Assist & Patient Support Equipment

7. Global Home Medical Equipment Market Analysis and Forecast, By Distribution Channel
    7.1. Segment Overview
    7.2. Online Stores
    7.3. Retail Outlets

8. Global Home Medical Equipment Market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Home Medical Equipment Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Home Medical Equipment Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. Abbott
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. B. Braun Melsungen AG
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Baxter
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Hill-Rom Holdings Incorporated
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Medline Industry Inc.
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. ResMed
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Philips Healthcare
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Stryker
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Sunrise Medical LLA.
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
 

List of Table

1. Global Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

2. Global Therapeutic Equipment, Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

3. Global Patient Monitoring Equipment, Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

4. Global Mobility Assist & Patient Support Equipment, Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

5. Global Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

6. Global Online Stores Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

7. Global Retail Outlets Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

8. Global Home Medical Equipment Market, By Region, 2018–2028 (USD Billion)

9. Global Home Medical Equipment Market, By North America, 2018–2028 (USD Billion)

10. North America Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

11. North America Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

12. U.S. Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

13. U.S. Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

14. Canada Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

15. Canada Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

16. Mexico Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

17. Mexico Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

18. Europe Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

19. Europe Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

20. Germany Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

21. Germany Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

22. France Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

23. France Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

24. U.K. Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

25. U.K. Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

26. Italy Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

27. Italy Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

28. Spain Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

29. Spain Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

30. Asia Pacific Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

31. Asia Pacific Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

32. Japan Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

33. Japan Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

34. China Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

35. China Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

36. India Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

37. India Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

38. South America Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

39. South America Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

40. Brazil Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

41. Brazil Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

42. Middle East and Africa Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

43. Middle East and Africa Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

44. UAE Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

45. UAE Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

46. South Africa Home Medical Equipment Market, By Functionality, 2018–2028 (USD Billion)

47. South Africa Home Medical Equipment Market, By Distribution Channel, 2018–2028 (USD Billion)

List of Figures 

1. Global Home Medical Equipment Market Segmentation

2. Home Medical Equipment 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 Home Medical Equipment Market Attractiveness Analysis By Functionality

9. Global Home Medical Equipment Market Attractiveness Analysis By Distribution Channel

10. Global Home Medical Equipment Market Attractiveness Analysis By Region

11. Global Home Medical Equipment Market: Dynamics

12. Global Home Medical Equipment Market Share By Functionality(2021 &2028)

13. Global Home Medical Equipment Market Share By Distribution Channel (2021 &2028)

14. Global Home Medical Equipment Market Share by Regions (2021 &2028)

15. Global Home Medical Equipment Market Share by Company (2020)

This study forecasts revenue growth at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global home medical equipment market on the basis of below mentioned segments:

Global Home Medical Equipment Market by Functionality:

  • Therapeutic Equipment
  • Patient Monitoring Equipment
  • Mobility Assist & Patient Support Equipment

Global Home Medical Equipment Market by Distribution Channel:

  • Pharmacies
  • Retail Medical Stores
  • Online Retailers

Global Home Medical Equipment Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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