Clinical Trial Management Systems Market By Product (enterprise Based, Site Based), Component (software, Hardware, Services), Delivery Mode ( Web-based, Cloud-based, On Premise) And End User (pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, Healthcare Providers) - Global Industry Analysis And Forecast To 2023
Published On : July 2018 Pages : 190 Category: Healthcare IT Report Code : HC071108
Industry Outlook and Trend Analysis
The Clinical Trial Management System Market was worth USD 0.45 billion in 2017 and is expected to reach approximately USD 1.31 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 12.56% during the forecast period. Clinical trial management alludes to the integration, collection and integration of clinical trial data. Long durations and huge costs related with clinical trials have provoked the requirement for enhancing the operational productivity of clinical trials. Accordingly the industry is reflecting expanding dependence on a wide range of IT empowered clinical trial management systems (CTMS) with a specific end goal to guarantee better administrative control on the trial runs. These systems allow the researchers to proficiently prepare for, plan, perform and report the clinical trials. CTMS is an online programming application which has the fundamental clinical work process forms installed in its activities. CTMS frameworks are employed to upgrade clinical research foundation through IT driven endeavor reconciliation that gives undertaking wide preliminary administration answer for the clinical research community.
Component Outlook and Trend Analysis
The Software section represented lion's share of the overall industry in 2017 attributable to benefits provided by these parts to components oversee clinical trials data created by biotech and pharmaceutical organizations. In addition, accessibility of easy to use programming frameworks enables spare to time and quickens the launch of new products. Such factors are foreseen to push business development.
Delivery Mode Outlook and Trend Analysis
Web-based mode represented biggest income share in 2017 and will witness powerful development later on years inferable from its easy to use plan and useful adaptability. Expanding profitability, quicker data exchange and effective administration of clinical trials by these frameworks will quicken industry development. On-premise conveyance method of CTMS market will witness significant development over the gauge time frame. They give appealing answers for some vast pharma players and permits internal control of data security and data privacy.
Type Outlook and Trend Analysis
Enterprise based CTMS represented dominant part of income share in 2017 and is assessed to follow a comparable pattern over the gauge time frame. Favorable circumstances provide by these frameworks incorporate speedier access to patient recruitment, subject data, improved protocol design, and data capture and exchange will empower industry development. Site based solutions will develop at a fast rate over the coming years. Increasing usage of such systems to little site or site organize empowering compelling budgetary administration, subject and visit administration, and in addition convention administration will encourage the development of the market.
End User Outlook and Trend Analysis
Biopharmaceutical and pharmaceutical organizations held the biggest income share in 2017 and is anticipated to witness a comparable pattern in the upcoming years. This development is ascribed to expanding implementation of clinical trial management systems for new medications clinical trials. Developing demand for clinical trial solutions for track clinical progress and take quick and viable choices will encourage portion development.
Regional Outlook and Trend Analysis
U.S. will rule the general CTMS market in 2017 because of rising interest for overseeing expansive measure of clinical trial data by preliminary directors. Rising number of clinical trials combined with expanding subsidizing for clinical trials by different affiliations including NIH will cultivate interest for CTMS in the future. Moreover, existence of major providers of enterprise technology, for example, Oracle offering advanced trial management cloud solutions will heighten local development U.S. CTMS market.
Competitive Insights
The leading players in the market are Merge Healthcare (IBM Watson), MedNet Solutions Inc, Medidata Solutions, Omnicomm Systems, Forte Research Systems Inc, Oracle Corporation, PAREXEL and DataTrak International Inc. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Clinical Trial Management System Market is segmented as follows-
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Columbia
- South Africa
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Nigeria
- South Africa
- Rest of MEA
Some of the key questions answered by the report are:
- What was the market size in 2017 and forecast from 2017 to 2023?
- What will be the industry market growth from 2017 to 2023?
- What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
- What are the major segments leading the market growth and why?
- Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Market Classification
· Clinical Trial Management Systems Market, By Product, Estimates and Forecast, 2014-2023 ($Million)
· Enterprise Based
· Site Based
· Clinical Trial Management Systems Market, By Component, Estimates and Forecast, 2014-2023 ($Million)
· Software
· Hardware
· Services
· Clinical Trial Management Systems Market, By Delivery Mode, Estimates and Forecast, 2014-2023 ($Million)
· Web- Based
· Cloud-Based
· On-Premise
· Clinical Trial Management Systems Market, By End User, Estimates and Forecast, 2014-2023 ($Million)
· Pharmaceutical & Biopharmaceutical Companies
· Clinical Research Organizations
· Healthcare Providers
· Clinical Trial Management Systems Market, By Region, Estimates and Forecast, 2014-2023 ($Million)
o North America
§ North America Clinical Trial Management Systems Market, By Country
o U.S. Clinical Trial Management Systems Market
o Canada Clinical Trial Management Systems Market
o Mexico Clinical Trial Management Systems Market
o Europe
§ Europe Clinical Trial Management Systems Market, By Country
o Germany Clinical Trial Management Systems Market
o UK Clinical Trial Management Systems Market
o France Clinical Trial Management Systems Market
o Russia Clinical Trial Management Systems Market
o Italy Clinical Trial Management Systems Market
o Rest of Europe Clinical Trial Management Systems Market
o Asia-Pacific
§ Asia-Pacific Clinical Trial Management Systems Market, By Country
o China Clinical Trial Management Systems Market
o Japan Clinical Trial Management Systems Market
o South Korea Clinical Trial Management Systems Market
o India Clinical Trial Management Systems Market
o Southeast Asia Clinical Trial Management Systems Market
o Rest of Asia-Pacific Clinical Trial Management Systems Market
o South America
§ South America Clinical Trial Management Systems Market
o Brazil Clinical Trial Management Systems Market
o Argentina Clinical Trial Management Systems Market
o Columbia Clinical Trial Management Systems Market
o South Africa Clinical Trial Management Systems Market
o Rest of South America Clinical Trial Management Systems Market
o Middle East and Africa
§ Middle East and Africa Clinical Trial Management Systems Market
o Saudi Arabia Clinical Trial Management Systems Market
o UAE Clinical Trial Management Systems Market
o Egypt Clinical Trial Management Systems Market
o Nigeria Clinical Trial Management Systems Market
o South Africa Clinical Trial Management Systems Market
o Rest of MEA Clinical Trial Management Systems Market
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2017-2023)
4.1.2. Canada Market States and Outlook (2017-2023)
4.1.3. Mexico Market States and Outlook (2017-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2017-2023)
4.2.2. France Market States and Outlook (2017-2023)
4.2.3. UK Market States and Outlook (2017-2023)
4.2.4. Russia Market States and Outlook (2017-2023)
4.2.5. Italy Market States and Outlook (2017-2023)
4.2.6. Rest of Europe Market States and Outlook (2017-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2017-2023)
4.3.2. Japan Market States and Outlook (2017-2023)
4.3.3. Korea Market States and Outlook (2017-2023)
4.3.4. India Market States and Outlook (2017-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2017-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2017-2023)
4.4.2. Argentina Market States and Outlook (2017-2023)
4.4.3. Columbia Market States and Outlook (2017-2023)
4.4.4. Rest of South America Market States and Outlook (2017-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2017-2023)
4.5.2. UAE Market States and Outlook (2017-2023)
4.5.3. Egypt Market States and Outlook (2017-2023)
4.5.4. Nigeria Market States and Outlook (2017-2023)
4.5.5. South Africa Market States and Outlook (2017-2023)
4.5.6. Rest of MEA Market States and Outlook (2017-2023)
5. Clinical Trial Management Systems Market, By Product
5.1. Introduction
5.2. Global Clinical Trial Management Systems Revenue and Market Share by Product (2017-2027)
5.2.1. Global Clinical Trial Management Systems Revenue and Revenue Share by Product (2017-2027)
5.3. Enterprise Based
5.3.1. Global Enterprise Based Revenue and Growth Rate (2017-2027)
5.4. Site Based
5.4.1. Global Site Based Revenue and Growth Rate (2017-2027)
6. Clinical Trial Management Systems Market, By Component
6.1. Introduction
6.2. Global Clinical Trial Management Systems Revenue and Market Share by Component (2017-2027)
6.2.1. Global Clinical Trial Management Systems Revenue and Revenue Share by Component (2017-2027)
6.3. Software
6.3.1. Global Software Revenue and Growth Rate (2017-2027)
6.4. Hardware
6.4.1. Global Hardware Revenue and Growth Rate (2017-2027)
6.5. Services
6.5.1. Global Services Revenue and Growth Rate (2017-2027)
7. Clinical Trial Management Systems Market, By Delivery Mode
7.1. Introduction
7.2. Global Clinical Trial Management Systems Revenue and Market Share by Delivery Mode (2017-2027)
7.2.1. Global Clinical Trial Management Systems Revenue and Revenue Share by Delivery Mode (2017-2027)
7.3. Web-Based
7.3.1. Global Web Revenue and Growth Rate (2017-2027)
7.4. Cloud-Based
7.4.1. Global Cloud Revenue and Growth Rate (2017-2027)
7.5. On Premise
7.5.1. Global On Premise Revenue and Growth Rate (2017-2027)
8. Clinical Trial Management Systems Market, By End User
8.1. Introduction
8.2. Global Clinical Trial Management Systems Revenue and Market Share by End User (2017-2027)
8.2.1. Global Clinical Trial Management Systems Revenue and Revenue Share by End User (2017-2027)
8.3. Pharmaceutical & Biopharmaceutical Companies
8.3.1. Global Pharmaceutical & Biopharmaceutical Companies Revenue and Growth Rate (2017-2027)
8.4. Clinical Research Organizations
8.4.1. Global Clinical Research Organizations Revenue and Growth Rate (2017-2027)
8.5. Healthcare Providers
8.5.1. Global Healthcare Providers Revenue and Growth Rate (2017-2027)
9. Clinical Trial Management Systems Market, By Region
9.1. Introduction
9.2. Global Clinical Trial Management Systems Revenue and Market Share by Regions
9.2.1. Global Clinical Trial Management Systems Revenue by Regions (2017-2027)
9.3. North America Clinical Trial Management Systems by Countries
9.3.1. North America Clinical Trial Management Systems Revenue and Growth Rate (2017-2027)
9.3.2. North America Clinical Trial Management Systems Revenue by Countries (2017-2027)
9.3.3. North America Clinical Trial Management Systems Revenue (Million USD) by Countries (2017-2027)
9.3.4. U.S.
9.3.4.1. United States Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.3.5. Canada
9.3.5.1. Canada Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.3.6. Mexico
9.3.6.1. Mexico Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4. Europe Clinical Trial Management Systems by Countries
9.4.1. Europe Clinical Trial Management Systems Revenue and Growth Rate (2017-2027)
9.4.2. Europe Clinical Trial Management Systems Revenue by Countries (2017-2027)
9.4.3. Europe Clinical Trial Management Systems Revenue (Million USD) by Countries (2017-2027)
9.4.4. Germany
9.4.4.1. Germany Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4.5. UK
9.4.5.1. UK Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4.6. France
9.4.6.1. France Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4.7. Russia
9.4.7.1. Russia Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4.8. Italy
9.4.8.1. Italy Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.4.9. Rest of Europe
9.4.9.1. Rest of Europe Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5. Asia-Pacific
9.5.1. Asia-Pacific Clinical Trial Management Systems Revenue and Growth Rate (2017-2027)
9.5.2. Asia-Pacific Clinical Trial Management Systems Revenue by Countries (2017-2027)
9.5.3. Asia-Pacific Clinical Trial Management Systems Revenue (Million USD) by Countries (2017-2027)
9.5.4. China
9.5.4.1. China Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5.5. Japan
9.5.5.1. Japan Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5.5.2.
9.5.6. Korea
9.5.6.1. Korea Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5.7. India
9.5.7.1. India Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5.8. Southeast Asia
9.5.8.1. Southeast Asia Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.5.9. Rest of Asia-Pacific
9.5.9.1. Rest of Asia-Pacific Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.6. South America
9.6.1. South America Clinical Trial Management Systems Revenue and Growth Rate (2017-2027)
9.6.2. South America Clinical Trial Management Systems Revenue by Countries (2017-2027)
9.6.3. South America Clinical Trial Management Systems Revenue (Million USD) by Countries (2017-2027)
9.6.4. Brazil
9.6.4.1. Brazil Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.6.5. Argentina
9.6.5.1. Argentina Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.6.6. Columbia
9.6.6.1. Columbia Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.6.7. Rest of South America
9.6.7.1. Rest of South America Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7. Middle East and Africa
9.7.1. Middle East and Africa Clinical Trial Management Systems Revenue and Growth Rate (2017-2027)
9.7.2. Middle East and Africa Clinical Trial Management Systems Revenue by Countries (2017-2027)
9.7.3. Middle East and Africa Clinical Trial Management Systems Revenue (Million USD) by Countries (2017-2027)
9.7.4. Saudi Arabia
9.7.4.1. Saudi Arabia Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7.5. United Arab Emirates
9.7.5.1. United Arab Emirates Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7.6. Egypt
9.7.6.1. Egypt Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7.7. Nigeria
9.7.7.1. Nigeria Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7.8. South Africa
9.7.8.1. South Africa Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
9.7.9. Rest of Middle East and Africa
9.7.9.1. Rest of Middle East and Africa Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2017-2027)
10. Company Profiles
10.1. Bio Clinica Inc.
10.1.1. Business Overview
10.1.2. Product Portfolio
10.1.3. Strategic Developments
10.1.4. Revenue and Market Share
10.2. Bio-Optronics, Inc.
10.2.1. Business Overview
10.2.2. Product Portfolio
10.2.3. Strategic Developments
10.2.4. Revenue and Market Share
10.3. DataTrak Internationals, Inc.
10.3.1. Business Overview
10.3.2. Product Portfolio
10.3.3. Strategic Developments
10.3.4. Revenue and Market Share
10.4. DSG Inc.
10.4.1. Business Overview
10.4.2. Product Portfolio
10.4.3. Strategic Developments
10.4.4. Revenue and Market Share
10.5. Forte Research Systems Inc.
10.5.1. Business Overview
10.5.2. Product Portfolio
10.5.3. Strategic Developments
10.5.4. Revenue and Market Share
10.6. MasterControl Inc.
10.6.1. Business Overview
10.6.2. Product Portfolio
10.6.3. Strategic Developments
10.6.4. Revenue and Market Share
10.7. Medidata Solutions, Inc.
10.7.1. Business Overview
10.7.2. Product Portfolio
10.7.3. Strategic Developments
10.7.4. Revenue and Market Share
10.8. MedNet Solutions, Inc.
10.8.1. Business Overview
10.8.2. Product Portfolio
10.8.3. Strategic Developments
10.8.4. Revenue and Market Share
10.9. Merge Healthcare (IBM Watson)
10.9.1. Business Overview
10.9.2. Product Portfolio
10.9.3. Strategic Developments
10.9.4. Revenue and Market Share
10.10.Omnicomm Systems Inc.
10.10.1. Business Overview
10.10.2. Product Portfolio
10.10.3. Strategic Developments
10.10.4. Revenue and Market Share
11. Global Clinical Trial Management Systems Market Competition, by Manufacturer
11.1. Global Clinical Trial Management Systems Revenue and Market Share by Manufacturer (2017-2017)
11.2. Global Clinical Trial Management Systems Price by Region (2017-2017)
11.3. Top 5 Clinical Trial Management Systems Manufacturer Market Share
11.4. Market Competition Trend
12. Clinical Trial Management Systems Market Forecast (2027-2023)
12.1. Global Clinical Trial Management Systems Revenue (Millions USD) and Growth Rate (2027-2023)
12.2. Clinical Trial Management Systems Market Forecast by Regions (2027-2023)
12.2.1. North America Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.1.1. United States Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.1.2. Canada Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.1.3. Mexico Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2. Europe Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.1. Germany Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.2. United Kingdom Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.3. France Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.4. Russia Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.5. Italy Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.2.6. Rest of the Europe Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3. Asia-Pacific Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.1. China Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.2. Japan Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.3. Korea Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.4. India Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.5. Southeast Asia Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.3.6. Rest of Asia-Pacific Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.4. South America Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.4.1. Brazil Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.4.2. Argentina Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.4.3. Columbia Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.4.4. Rest of South America Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5. Middle East and Africa Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.1. Saudi Arabia Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.2. UAE Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.3. Egypt Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.4. Nigeria Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.5. South Africa Clinical Trial Management Systems Market Forecast (2027-2023)
12.2.5.6. Rest of MEA Clinical Trial Management Systems Market Forecast (2027-2023)
12.3. Clinical Trial Management Systems Market Forecast by Product (2027-2023)
12.3.1. Global Clinical Trial Management Systems Revenue Forecast by Product (2027-2023)
12.3.2. Global Clinical Trial Management Systems Revenue Market Share Forecast by Product (2027-2023)
12.4. Clinical Trial Management Systems Market Forecast by Component (2027-2023)
12.4.1. Global Clinical Trial Management Systems Revenue Forecast by Component (2027-2023)
12.4.2. Global Clinical Trial Management Systems Revenue Market Share Forecast by Component (2027-2023)
12.5. Clinical Trial Management Systems Market Forecast by Delivery Mode (2027-2023)
12.5.1. Global Clinical Trial Management Systems Revenue Forecast by Delivery Mode (2027-2023)
12.5.2. Global Clinical Trial Management Systems Revenue Market Share Forecast by Delivery Mode (2027-2023)
12.6. Clinical Trial Management Systems Market Forecast by End User (2027-2023)
12.6.1. Global Clinical Trial Management Systems Revenue Forecast by Toxicity End User (2027-2023)
12.6.2. Global Clinical Trial Management Systems Revenue Market Share Forecast by Toxicity End User (2027-2023)
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Clinical Trial Management Systems Market.
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
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Data Collection Matrix |
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Demand Side |
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Secondary Data Sources |
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Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
Data Validation
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Data Triangulation
Industry Analysis
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Qualitative Data |
Quantitative Data (2017-2025) |
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