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Video Telemedicine Market

Video Telemedicine Market Size By Component (Services, Products), By Communication Technology (Broadband ISDN, 3G, 4G, 5G, ADSL, Satellite Communication), By Application (Cardiology, Neurology and Psychiatry, Orthopedics, Radiology, Dermatology, Gynecology, Dentistry, Oncology, Pathology), End-user, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12873
  • Published Date: Aug, 2022
  • Pages: 235
  • Category: Healthcare
  • Format: PDF
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The global video telemedicine market is expected to reach USD 8.5 billion by 2030, at a CAGR of 16.3% during the forecast period 2022 to 2030. The market is anticipated to be driven by the rising incidences of chronic diseases. Furthermore, the increasing demand for various healthcare services like radiology and cardiology propels the market's growth.

Market Overview:

Video telemedicine is an essential aspect of telemedicine facilities used for treating patients and facilitates reliable quality and clinical efficiency in acute care, in-home care, and ambulatory care. Telehealth has always gained importance in the healthcare industry. Over time patients realize the importance of virtual care for them and substitute them for in-patient care options. Video telemedicine provides healthcare facilities to rural patients and people from remote locations. It also helps in increasing the accessibility of healthcare facilities at lower costs. Furthermore, video telemedicine is widely used by patients and physicians to share accurate time information from one computer screen to another. Healthcare professionals are increasingly using video telemedicine software and applications to provide treatment to patients when they lack a proper healthcare infrastructure for treatment. So, a patient can consult a doctor for disease diagnosis and treatment without visiting the clinic or hospital and in the comfort of their home. Physicians and doctors use video telemedicine to transmit digital imaging for the consultation of patients and for diagnosing them remotely. The most crucial benefit of video telemedicine is the convenience of using it. Any patient can undergo video telemedicine treatment regardless of age or illness. However, in some severe and critical cases, doctors suggest patients visit the hospital and get themselves treated on time.

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Market Dynamics:

Drivers:
  • Increasing prevalence of chronic diseases

The increasing prevalence of chronic diseases such as diphtheria, diabetes, cardiovascular diseases, influenza, tetanus, pertussis, etc., drives the market's growth. Furthermore, the rising occurrence of infectious and non-infectious diseases also propels the market's growth. The increasing geriatric population is also expected to drive the market's growth. Video telemedicine is very much helpful for patients in case of emergency.

Restraints:
  • Lack of physical examination

Video telemedicine is still an emerging technology and needs to develop to provide complete patient satisfaction. Several people find video telemedicine inadequate for treating diseases, restraining the market's growth. Video telemedicine can be easily used for minor illnesses, but it limits the physical examination of patients for any chronic conditions, thus restraining the market's growth.

Opportunities:
  • Outbreak of Covid-19

The outbreak of Covid-19 provided an opportunity for the market's growth as lockdown restrictions were imposed and people were restricted to their homes. During this time, many patients avoided visiting hospitals for minor diseases as they wanted to prevent contacting patients suffering from Covid-19. During this time, the market for video telemedicine garnered importance, and more and more people started consulting doctors via phone. This is expected to provide an opportunity for the market's growth during the forecast period.

Challenges:
  • Lack of awareness

In developing countries, there is low market penetration for video telemedicine. This is mainly due to the lack of awareness, which makes people often unsure of trying it. Most often, the geriatric population, which suffers from chronic ailments, is unaware of any kind of treatment via technology. Furthermore, they are not so much into technology which also challenges the market's growth.

Segmentation Analysis:

The global video telemedicine market has been segmented based on components, communication technology, application, and regions.

  • The component segment is divided into services and products. The services segment dominated, with a market share of around 63% in 2021. The services segment is growing with the presence of various telemedicine services, such as tele-consulting, tele-education, and telemonitoring, widely preferred by patients rather than diagnosis.
  • The communication technology segment is divided into Broadband ISDN, 3G, 4G, 5G, ADSL, and satellite communication. Over the forecast period, the 4G segment is expected to grow at the fastest CAGR of 18.6%. The segment has increased owing to the healthcare industry's broader access to 4G technology.
  • The application segment is divided into cardiology, neurology and psychiatry, orthopedics, radiology, dermatology, gynecology, dentistry, oncology, and pathology​. In 2021, the gynecology segment dominated the market, accounting for around 16% of global revenue. The rising awareness about women's health risks propels the segment's growth.
Regional Segmentation Analysis:

The regions analyzed for the video telemedicine market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global video telemedicine market, with a 36% share of the market revenue in 2021.

  • North America currently dominates the video telemedicine market with a 36% market revenue share in 2021. The need for video telemedicine in the region has been growing owing to the high deployment rate of video telemedicine in the region. Furthermore, the growing demand for smartphones coupled with the increasing use of mobile apps for health in the US also propels the market's growth in the region. In addition, the presence of advanced healthcare facilities and infrastructure supports the market growth in the region. Furthermore, the strong support from governmental organizations for the deployment of video telemedicine also provides an opportunity for the market's growth.

North America Region Video Telemedicine Market Share in 2021 - 36%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global video telemedicine market.

List of Key Market Players:

  • Logitech International
  • Cisco Systems Inc.
  • Vidyo Inc. (Enghouse Systems Ltd)
  • Huawei Technologies Co Ltd.
  • Polycom (Plantronics)
  • Life-Size Communication Inc.
  • AMD Global Telemedicine
  • GlobalMed Inc.
  • Premier Global Services Inc.
  • VSee Lab Inc.

Key Target Audience

  • Market Players
  • Investors
  • End-Users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Video Telemedicine Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global video telemedicine market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global video telemedicine market. The regions analyzed for the 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 the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of video telemedicine based on the component, communication technology, application, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and 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 the global video telemedicine market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global video telemedicine 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 porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. 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 influence the company's growth and development 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 act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global video telemedicine market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the video telemedicine market was valued at USD 2.2 billion in 2021 to USD 8.5 billion by 2030.

The global video telemedicine market is growing at a CAGR of 16.3% during the forecast period 2022-2030.

The global video telemedicine market has been segmented based on components, communication technology, application, and regions. The services segment led the market in 2021. The 4G segment led the market in 2021.

North America emerged as the largest market for video telemedicine.

The increasing prevalence of chronic diseases will influence the market's growth.

Lack of physical examination could hamper the market growth.

The outbreak of Covid-19 will provide considerable opportunities to the market.

Key players are Logitech International, Cisco Systems Inc., Vidyo Inc. (Enghouse Systems Ltd), Huawei Technologies Co Ltd., Polycom (Plantronics), Life-Size Communication Inc., AMD Global Telemedicine, GlobalMed Inc.

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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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 Component
          4.3.2. Market Attractiveness Analysis By Communication Technology
          4.3.3. Market Attractiveness Analysis By Application
          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. Increasing prevalence of chronic diseases
    5.3. Restraints
          5.3.1. Lack of physical examination
    5.4. Opportunities
          5.4.1. Outbreak of Covid-19
    5.5. Challenges
          5.5.1. Lack of awareness

6. Global Video Telemedicine Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Services
    6.3. Products

7. Global Video Telemedicine Market Analysis and Forecast, By Communication Technology
    7.1. Segment Overview
    7.2. Broadband ISDN
    7.3. 3G
    7.4. 4G
    7.5. 5G
    7.6. ADSL
    7.7. Satellite Communication

8. Global Video Telemedicine Market Analysis and Forecast, By Application
    8.1. Segment Overview
    8.2. Cardiology
    8.3. Neurology and Psychiatry
    8.4. Orthopedics
    8.5. Radiology
    8.6. Dermatology
    8.7. Gynecology
    8.8. Dentistry
    8.9. Oncology
    8.10. Pathology

9. Global Video Telemedicine 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 Video Telemedicine Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Video Telemedicine Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Logitech International
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Cisco Systems Inc.
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Vidyo Inc. (Enghouse Systems Ltd)
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Huawei Technologies Co Ltd.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Polycom (Plantronics)
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Life-Size Communication Inc.
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. AMD Global Telemedicine
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. GlobalMed Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Premier Global Services Inc.
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. VSee lab Inc.
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

2. Global Services Video Telemedicine Market, By Region, 2019-2030 (USD Billion) 

3. Global Products Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

4. Global Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

5. Global Broadband ISDN Video Telemedicine Market, By Region, 2019-2030 (USD Billion) 

6. Global 3G Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

7. Global 4G Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

8. Global 5G Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

9. Global ADSL Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

10. Global Satellite Communication Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

11. Global Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

12. Global Cardiology Video Telemedicine Market, By Region, 2019-2030 (USD Billion) 

13. Global Neurology and Psychiatry Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

14. Global Orthopedics Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

15. Global Radiology Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

16. Global Dermatology Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

17. Global Gynecology Disease Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

18. Global Dentistry Video Telemedicine Market, By Region, 2019-2030 (USD Billion)

19. Global Oncology Video Telemedicine Market, By Region, 2019-2030 (USD Billion) 

20. Global Pathology Video Telemedicine Market, By Region, 2019-2030 (USD Billion) 

21. North America Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

22. North America Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

23. North America Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

24. U.S. Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

25. U.S. Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

26. U.S. Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

27. Canada Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

28. Canada Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

29. Canada Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

30. Mexico Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

31. Mexico Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

32. Mexico Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

33. Europe Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

34. Europe Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

35. Europe Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

36. Germany Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

37. Germany Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

38. Germany Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

39. France Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

40. France Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

41. France Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

42. U.K. Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

43. U.K. Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

44. U.K. Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

45. Italy Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

46. Italy Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

47. Italy Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

48. Spain Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

49. Spain Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

50. Spain Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

51. Asia Pacific Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

52. Asia Pacific Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

53. Asia Pacific Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

54. Japan Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

55. Japan Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

56. Japan Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

57. China Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

58. China Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

59. China Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

60. India Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

61. India  Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

62. India Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

63. South America Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

64. South America Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

65. South America Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

66. Brazil Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

67. Brazil Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

68. Brazil Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

69. The Middle East and Africa Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

70. The Middle East and Africa Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

71. The Middle East and Africa Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

72. UAE Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

73. UAE Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

74. UAE Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

75. South Africa Video Telemedicine Market, By Component, 2019-2030 (USD Billion) 

76. South Africa Video Telemedicine Market, By Communication Technology, 2019-2030 (USD Billion) 

77. South Africa Video Telemedicine Market, By Application, 2019-2030 (USD Billion) 

List of Figures 

1. Global Video Telemedicine Market Segmentation

2. Video Telemedicine 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 Video Telemedicine Market Attractiveness Analysis By Component

9. Global Video Telemedicine Market Attractiveness Analysis By Communication Technology

10. Global Video Telemedicine Market Attractiveness Analysis By Application

11. Global Video Telemedicine Market Attractiveness Analysis By Region

12. Global Video Telemedicine Market: Dynamics

13. Global Video Telemedicine Market Share by Component (2022 & 2030)

14. Global Video Telemedicine Market Share by Communication Technology (2022 & 2030)

15. Global Video Telemedicine Market Share by Application (2022 & 2030)

16. Global Video Telemedicine Market Share by Regions (2022 & 2030)

17. Global Video Telemedicine Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global video telemedicine market based on the below-mentioned segments:

Global Video Telemedicine Market by Component :

  • Services
  • Products

Global Video Telemedicine Market by Communication Technology:

  • Broadband ISDN
  • 3G
  • 4G
  • 5G
  • ADSL
  • Satellite Communication

Global Video Telemedicine Market by Application:

  • Cardiology
  • Neurology and Psychiatry
  • Orthopedics
  • Radiology
  • Dermatology
  • Gynecology
  • Dentistry
  • Oncology
  • Pathology​

Global Video Telemedicine 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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