Spay and Neuter Market

Spay and Neuter Market Size by Animal Type [Dogs (Spaying and Neutering), Cats (Spaying and Neutering) and Others], Service Provider (Veterinary Clinics and Veterinary Hospitals), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13412
  • Published Date: Apr, 2023
  • Pages: 237
  • Category: Healthcare
  • Format: PDF
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The global spay and neuter market is expected to reach USD 3.41 billion by 2032, at a CAGR of 4.20% from 2023 to 2032. Spay and neuter market growth would be driven by the rising rate of pet adoption and the increased population of stray animals. One of the main concerns is the growing number of stray animals, which are born and reproduce on the street and have never been owned or abandoned. Stray animals are animals that are no longer wanted and are left on the street.

Market Introduction:

From the Latin word "neuter," neutering means to remove all or a significant portion of an animal's reproductive organ. Castration refers specifically to male animals, whereas spaying is typically reserved for female animals. The primary objective of neutering animals is to stop them from reproducing, which is an essential part of any program for humanely managing the animal population. There are free-roaming dog populations in many countries, and if they aren't controlled, they can hurt public health, local wildlife, and the dogs' health and well-being. A male dog's testicles are surgically removed by a veterinarian through an incision on the front of the scrotum during neutering, also known as castration. For the surgery to occur, the male dog will need to be put under, but the entire procedure is usually quick, and the owner can generally take the dog home that same day to rest. Recuperation commonly requires only a couple of days. However, the owner must restrict actions like hopping, swimming, running, and climbing. A veterinarian uses anesthesia during surgery to remove the female dog's uterus and ovaries through an incision in her stomach. The procedure typically takes less than 90 minutes to complete. In addition, while some veterinarians will keep the dog overnight, most pets can return home the same day to recuperate.

During recovery, the female dog must refrain from jumping, bathing, or swimming, running, and playing rough. Having a dog spayed or neutered has numerous health benefits. Many studies have shown that spaying and neutering lower a dog's risk of cancer (testicular cancer in male dogs and breast cancer in female dogs). Additionally, neutered male animals have a lower risk of prostate problems. Further, de-sexing can assist with behavioral issues. Neutering male dogs can help with making them less aggressive and dominant. Additionally, spaying a female dog will stop her heat cycle.

Spay and Neuter Market Size

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Market Dynamics:

Drivers

Various benefits associated with the procedures - Both humans and animals benefit from spaying and neutering. The absence of any disease will be beneficial to animals. For animals, it will give them a chance to get vaccinated, making the animal population healthier and improving their well-being. Additionally, it slows the spread of serious diseases that threaten public health, like rabies. Several studies have shown that spaying and neutering lowers a dog's cancer risk. Pyometra is a common uterine infection that affects unspayed females. Domesticated dogs and cats have been an integral part of human society for hundreds of years. Humans and animals initially depended on one another for labor, hunting, and protection. Throughout the long term, this relationship developed to additional positions like rescue dogs and police dogs. Therefore, spaying, and neutering cats and dogs reduces the overpopulation of these animals and improves individual health. Numerous nations across the globe have free-wandering dog populations, which, whenever left uncontrolled, can adversely affect well-being, local wildlife, and general well-being.

Restraints:

Lack of knowledge among pet owners - Many need the correct information about spaying and neutering. They believe several myths about the procedures, including that animals become less active after being spayed or neutered, that the procedure is painful, and that it costs a lot of money. Because of this knowledge, pet owners cannot make sound decisions, which can negatively affect their pet's health.

Opportunities:

Increasing public awareness of the advantages of spaying and neutering- To provide pet owners with uniform, understandable information about spaying and neutering, investing in an effective educational program is critical. Private or public organizations can carry it out. In addition, the program will be more successful if veterinarians provide pet owners with consistent, understandable information regarding spaying and neutering. The target of this program isn't to drive pet owners into spaying & neutering pets, yet to instead make a uniform process for teaching individuals of current realities, and ideally influence them to spay or neuter and go with more intelligent decisions about their pet's wellbeing. Pet owners will be able to clarify any questions they may have and gain a better understanding of the procedures. Later, pet owners can also have one-on-one private sessions with veterinarians.

Challenges:

Access to veterinary healthcare is relatively limited - Minimal veterinary healthcare facilities are available across the globe. Both developed and developing nations suffer from this condition. The severe shortage of veterinarians is to blame for this restricted access. Poor pay and low job satisfaction are the two primary causes of this shortage. Veterinarian leaders must accept the challenge of balancing the team's needs to ensure a sustainable and satisfying work environment with the community's expectations. A necessary consequence of low production is low compensation.

Regional segmentation analysis:

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 spay and neuter market, with a 40% market revenue share in 2022. Due to the greater prominence of significant market players in the region, the spay and neuter market is currently dominated by North America.

Being a developed region, the adoption rate of pets is exceptionally high, and regular education campaigns about the benefits of spaying and neutering are held. People in the U.S. have high disposable income, which permits them to adopt pets. The COVID-19 pandemic's early weeks saw significant shifts in U.S. shelters, according to Best Friends Animal Society. Best Friends' efforts to collect and analyze national shelter data provide the most comprehensive look at the nation's lifesaving gap and the remarkable progress made in just five years.

During the pandemic, this progress made an unexpectedly significant leap forward. More shelters than ever before achieved the no-kill standard of a 90% save rate. The most considerable rate ever recorded was the decrease in the number of dogs and cats that entered shelters and died unnecessarily. The year 2020 dataset shows the critical lifesaving progress that can be made by overseeing admission. As a result of the COVID-19 pandemic, many shelters altered their operations, resulting in fewer animals dying and fewer dogs and cats entering shelters.

North America Region Spay and Neuter Market Share in 2022 – 40%

 

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Animal Type segment analysis

The animal type segment is divided into dogs, cats and others. The dog segment further includes spaying and neutering. The cat segment further includes spaying and neutering. In 2022, dogs dominated the market, accounting for around 60% of global revenue. The dog is the most beloved pet in the world. There are many different breeds of dogs in the world, from pets to stray dogs to packs in the wild. When it comes to dogs and the fascinating characteristics that make them distinctive and appealing to people, there is a lot to learn. Dogs are more commonly referred to as "man's best friend" because they were the first species to be domesticated.

Service Provider segment analysis

The service provider segment is divided into veterinary clinics and veterinary hospitals. In 2022, veterinary clinics dominated the market, accounting for around 58% of global revenue. The most typical type of pet care facility is a veterinary clinic. Vet facilities center around deterrent medication and well-being checks for pets and can carry out minor surgeries. Because they offer fewer services, veterinary clinics are typically smaller than animal hospitals. Additionally, clinics offer convenient routine appointments and desired ones when sick. One-on-one sessions provided by veterinary clinics allow pet owners to clarify any questions about the disease or surgical procedures.

End-User segment analysis

The end-user segment is divided into animal welfare & shelter groups and pet owners. In 2022, the animal welfare & shelter groups segment dominated the market, accounting for around 55% of global revenue. The shelter's large size and the variety of animal species housed there are the dominating factors. Animal welfare and shelter organizations try to find homes for unwanted, abandoned, abused, or stray pets. Many rescue groups are made and run by volunteers, who bring animals into their homes and care for them, including dealing with clinical issues, playing, training, and tackling behavior issues until a reasonable long-lasting home can be found.

Some of the Key Market Players:
  • Animal Spay-Neuter Clinic
  • Companions Spay & Neuter
  • S/Nipped Clinic
  • East Valley Veterinary Clinic
  • Spay & Neuter Center of Southern Nevada
  • The Spay & Neuter Center of New Jersey
  • ST. Croix Animal Friends
  • Fix Long Beach
  • Neuter Clinic Spain
  • Indian Street Animal Clinic
  • Holt Road Pet Hospital
  • Brown Veterinary Hospital
  • Aloropi Vet Center
  • Pets Health Veterinary Clinic FZE
  • Vet Plus Center

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 2.26 Billion
Market size value in 2032 USD 3.41 Billion
CAGR (2023 to 2032) 4.20%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Regional Segments The regions are segmented into South America, Europe, Asia Pacific, North America, the Middle East and Africa.
Segments Animal Type, Service Provider, End-User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the spay and neuter market was valued at USD 2.26 billion in 2022 to USD 3.41 billion by 2032.

The global spay and neuter market is growing at a CAGR of 4.20% during the forecast period 2023-2032.

The North American region emerged as the largest market for the spay and neuter.

The various benefits associated with the procedures will drive 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 Animal Type
          4.3.2. Market Attractiveness Analysis by Service Provider
          4.3.3. Market Attractiveness Analysis by End-User
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising pet adoption
    5.3. Restraints
          5.3.1. Presence of non-surgical treatment
    5.4. Opportunities
          5.4.1. Rise in demand from developing countries
    5.5. Challenges
          5.5.1. Less number of hospitals and clinics

6. Global Spay and Neuter Market Analysis and Forecast, By Animal Type
    6.1. Segment Overview
    6.2. Dogs
          6.2.1. Spaying
          6.2.2. Neutering
    6.3. Cats
          6.3.1. Spaying
          6.3.2. Neutering
    6.4. Others

7. Global Spay and Neuter Market Analysis and Forecast, By Service Provider
    7.1. Segment Overview
    7.2. Veterinary Clinics
    7.3. Veterinary Hospitals

8. Global Spay and Neuter Market Analysis and Forecast, By End-User
    8.1. Segment Overview
    8.2. Animal Welfare & Shelter Groups
    8.3. Pet Owners

9. Global Spay and Neuter 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 Spay and Neuter Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Spay and Neuter Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Animal Spay-Neuter Clinic
          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. Companions Spay & Neuter
          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. S/Nipped Clinic
          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. East Valley Veterinary Clinic
          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. Spay & Neuter Center of Southern Nevada
          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. The Spay & Neuter Center of New Jersey
          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. ST. Croix Animal Friends
          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. Fix Long Beach
          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. Neuter Clinic Spain
          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. Indian Street Animal Clinic
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. Holt Road Pet Hospital
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Brown Veterinary Hospital
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. Aloropi Vet Center
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. Pets Health Veterinary Clinic FZE
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Vet Plus Center
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis

List of Table

1. Global Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

2. Global Dogs Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

3. Global Cats Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

4. Global Others Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

5. Global Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

6. Global Veterinary Clinics Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

7. Global Veterinary Hospitals Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

8. Global Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

9. Global Animal Welfare & Shelter Groups Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

10. Global Pet Owners Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

11. Global Spay and Neuter Market, By Region, 2019-2032 (USD Billion) 

12. North America Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

13. North America Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

14. North America Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

15. U.S. Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

16. U.S. Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

17. U.S. Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

18. Canada Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

19. Canada Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

20. Canada Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

21. Mexico Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

22. Mexico Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

23. Mexico Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

24. Europe Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

25. Europe Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

26. Europe Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

27. Germany Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

28. Germany Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

29. Germany Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

30. France Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

31. France Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

32. France Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

33. U.K. Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

34. U.K. Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

35. U.K. Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

36. Italy Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

37. Italy Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

38. Italy Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

39. Spain Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

40. Spain Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

41. Spain Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

42. Asia Pacific Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

43. Asia Pacific Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

44. Asia Pacific Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

45. Japan Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

46. Japan Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

47. Japan Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

48. China Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

49. China Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

50. China Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

51. India Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

52. India Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

53. India Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

54. South America Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

55. South America Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

56. South America Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

57. Brazil Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

58. Brazil Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

59. Brazil Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

60. Middle East and Africa Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

61. Middle East and Africa Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

62. Middle East and Africa Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

63. UAE Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

64. UAE Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

65. UAE Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

66. South Africa Spay and Neuter Market, By Animal Type, 2019-2032 (USD Billion) 

67. South Africa Spay and Neuter Market, By Service Provider, 2019-2032 (USD Billion) 

68. South Africa Spay and Neuter Market, By End-User, 2019-2032 (USD Billion) 

List of Figures 

1. Global Spay and Neuter Market Segmentation

2. Spay and Neuter 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 Spay and Neuter Market Attractiveness Analysis by Animal Type

9. Global Spay and Neuter Market Attractiveness Analysis by Service Provider

10. Global Spay and Neuter Market Attractiveness Analysis by End-User

11. Global Spay and Neuter Market Attractiveness Analysis by Region

12. Global Spay and Neuter Market: Dynamics

13. Global Spay and Neuter Market Share by Animal Type (2022 & 2032)

14. Global Spay and Neuter Market Share by Service Provider (2022 & 2032)

15. Global Spay and Neuter Market Share by End-User (2022 & 2032)

16. Global Spay and Neuter Market Share by Regions (2022 & 2032)

17. Global Spay and Neuter Market Share by Company (2022)

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

Global Spay and Neuter Market by Animal Type:

  • Dogs
    • Spaying
    • Neutering
  • Cats
    • Spaying
    • Neutering
  • Others

Global Spay and Neuter Market by Service Provider:

  • Veterinary Clinics
  • Veterinary Hospitals

Global Spay and Neuter Market by End-User:

  • Animal Welfare & Shelter Groups
  • Pet Owners

Global Spay and Neuter 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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