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Medication Management System Market By Software, Mode Of Delivery And End Users- Global Industry Analysis And Forecast To 2023.
Published On : April 2018 Pages : 154 Category: Healthcare IT Report Code : HC04709
SEGMENTS & REGIONS:
- Regions: North America, Europe, Asia- Pacific, Latin America, Middle East & Africa
Industry Trend Analysis:
The global medication management system was estimated USD billion in 2017 and is expected to reach USD billion in 2023, registering a compound annual growth rate of %. The role of the medication management software is to regulate Adverse Drug Events, maintain management and to furnish medicines. There has been scarcity of pharmacist and professional healthcares in recent times. Thus to overcome this condition there has been rise in demand of the medication management system. The adaptation of IT in the healthcare sector for management services is one of the prime factors for the growth of the market. Furthermore, increase in investments by the hospitals in order to upgrade or advance their management system and to reduce any errors related to management will drive the market growth.
Software Outlook and Trend Analysis:
On the basis of software the global medication management system is categorized into Computerized Physician Order Entry, Inventory Management, Administration Software, Assurance System Software and Clinical Decision Support System. Among them the inventory management segment has acquired the largest share of the market and is expected to grow at a significant compound annual growth rate. The healthcare facilities are improvising their management techniques in order to reduce their errors and thus by providing better management service which is one of the key factors for the growth of this segment. On the other hand, the clinical decision support system segment will witness fastest growth over the forecast period.
Mode of Delivery Outlook and Trend Analysis:
On the basis of mode of delivery the global medication management system is segmented into cloud based, on-premises and by wed based. The cloud based segment has dominated the entire market and will continue to grow at a substantial compound annual growth rate. Various healthcare organizations are opting for cloud based solutions in order to share information’s with their clients and other holders. Additionally security of the patient’s data and acquaintance of laws relating with will probably help the growth of the market. The web based segment has acquired the second largest market.
End Users Outlook and Trend Analysis:
Based on the end users the global medication management system is segregated into pharmacy, hospitals and other end users. The hospitals segment has acquired the largest share from the overall market and is expected to grow at a high compound annual growth rate. Hospitals have invested immense capital for development and improvisation of their management systems which is one of the key factors for the growth of this segment. Pharmacy sector will witness considerable growth in the near future.
Regional Outlook and Trend Analysis:
North America has acquired the largest share and dominated the entire medication management system market. U.S. under this region has the largest market. The key factors for the growth of this region are adaptation of IT sector, improvisation of management services, and increase in number of prescriptions and rise in chronic diseases. The market in Asia-Pacific and Europe region will grow at a higher compound annual growth rate. Advancements in healthcare management technology and rise in patient pool is one of the prime factors for the growth in these regions.
Competition Insights:
The leading competitors in the global medication management system are Dickinson and Company (CareFusion), QuadraMed Affinity Corporation, GE Healthcare, Allscripts, Cerner Corporation, Becton, Talyst, LLC., McKesson Corporation and Omnicell, Inc. Due to mergers and launch of new products the market size will expand in the near future.
The Medication Management System is segmented into:
Based on Software:
- Computerized Physician Order Entry
- Inventory Management
- Administration Software
- Assurance System Software
- Clinical Decision Support System
Based on Mode of Delivery:
- cloud based
- on-premises
- wed based
Based on End Users:
- pharmacy
- hospitals
- other end users
Based on Regions:
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- 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
· Medication Management System Market, By Software, Estimates and Forecast, 2014-2023 ($Million)
o Computerized Physician Order Entry
o Inventory Management
o Administration Software
o Assurance System Software
o Clinical Decision Support System
· Medication Management System Market, By Mode of Delivery, Estimates and Forecast, 2014-2023 ($Million)
o Cloud Based
o On premises
o Web Based
· Medication Management System Market, By End Users, Estimates and Forecast, 2014-2023 ($Million)
o Pharmacy
o Hospitals
o Other End Users
· Medication Management System Market, By Region, Estimates and Forecast, 2014-2023 ($Million)
o North America
§ North America Medication Management System Market, By Country
o U.S. Medication Management System Market
o Canada Medication Management System Market
o Mexico Medication Management System Market
o Europe
§ Europe Medication Management System Market, By Country
o Germany Medication Management System Market
o UK Medication Management System Market
o France Medication Management System Market
o Russia Medication Management System Market
o Italy Medication Management System Market
o Rest of Europe Medication Management System Market
o Asia-Pacific
§ Asia-Pacific Medication Management System Market, By Country
o China Medication Management System Market
o Japan Medication Management System Market
o South Korea Medication Management System Market
o India Medication Management System Market
o Southeast Asia Medication Management System Market
o Rest of Asia-Pacific Medication Management System Market
o South America
§ South America Medication Management System Market
o Brazil Medication Management System Market
o Argentina Medication Management System Market
o Columbia Medication Management System Market
o South Africa Medication Management System Market
o Rest of South America Medication Management System Market
o Middle East and Africa
§ Middle East and Africa Medication Management System Market
o Saudi Arabia Medication Management System Market
o UAE Medication Management System Market
o Egypt Medication Management System Market
o Nigeria Medication Management System Market
o South Africa Medication Management System Market
o Rest of MEA Medication Management System 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
3.2.1.1. Investments by the hospitals in order to improvise their management services
3.2.1.2. Innovation in technology will augment the market growth
3.2.2. Restraints
3.2.2.1. High Cost of Implementation
3.2.2.2. Issues related to patient privacy
3.2.3. Opportunities
3.2.3.1. Developing countries are supporting the medical management system market
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. Medication Management System Market, By Software
5.1. Introduction
5.2. Global Medication Management System Sales, Revenue and Market Share By Software (2017-2027)
5.2.1. Global Medication Management System Sales and Sales Share By Software (2017-2027)
5.2.2. Global Medication Management System Revenue and Revenue Share By Software (2017-2027)
5.3. Computerized Physician Order Entry
5.3.1. Global Computerized Physician Order Entry Sales and Growth Rate (2017-2027)
5.4. Inventory Management
5.4.1. Global Inventory Management Sales and Growth Rate (2017-2027)
5.5. Administration Software
5.5.1 Global Administration Software Sales and Growth Rate (2017-2027)
5.6. Assurance System Software
5.5.1 Global Assurance System Software Sales and Growth Rate (2017-2027)
5.7. Clinical Decision Support System
5.5.1 Global Clinical Decision Support System Sales and Growth Rate (2017-2027)
5.8. Medication Management System Market, By Mode of Delivery
5.9. Introduction
5.10. Global Medication Management System Sales, Revenue and Market Share By Mode of Delivery(2017-2027)
5.10.1. Global Medication Management System Sales and Sales Share By Mode of Delivery(2017-2027)
5.10.2. Global Medication Management System Revenue and Revenue Share By Mode of Delivery(2017-2027)
5.11. Cloud Based
5.11.1. Global Cloud Based Sales and Growth Rate (2017-2027)
5.12. On premises
5.12.1. Global On premises Sales and Growth Rate (2017-2027)
5.13. Web Based
5.13.1. Global Web Based Sales and Growth Rate (2017-2027)
6. Medication Management System Market, By End Users
6.1. Introduction
6.2. Global Medication Management System Sales, Revenue and Market Share By End Users(2017-2027)
6.2.1. Global Medication Management System Sales and Sales Share By End Users(2017-2027)
6.2.2. Global Medication Management System Revenue and Revenue Share By End Users(2017-2027)
6.3. Pharmacy
6.3.1. Global Pharmacy Sales and Growth Rate (2017-2027)
6.4. Hospitals
6.4.1. Global Hospitals Sales and Growth Rate (2017-2027)
6.5. Other End Users
6.5.1. Global Other End Users Sales and Growth Rate (2017-2027)
7. Medication Management System Market, By Region
7.1. Introduction
7.2. Global Medication Management System Sales, Revenue and Market Share by Regions
7.2.1. Global Medication Management System Sales by Regions (2017-2027)
7.2.2. Global Medication Management System Revenue by Regions (2017-2027)
7.3. North America Medication Management System by Countries
7.3.1. North America Medication Management System Sales and Growth Rate (2017-2027)
7.3.2. North America Medication Management System Revenue and Growth Rate (2017-2027)
7.3.3. North America Medication Management System Sales by Countries (2017-2027)
7.3.4. North America Medication Management System Revenue (Million USD) by Countries (2017-2027)
7.3.5. U.S.
7.3.5.1. United States Medication Management System Sales and Growth Rate (2017-2027)
7.3.5.2. United States Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.3.6. Canada
7.3.6.1. Canada Medication Management System Sales and Growth Rate (2017-2027)
7.3.6.2. Canada Medication Management System Sales (Millions USD) and Growth Rate (2017-2027)
7.3.7. Mexico
7.3.7.1. Mexico Medication Management System Sales and Growth Rate (2017-2027)
7.3.7.2. Mexico Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4. Europe Medication Management System by Countries
7.4.1. Europe Medication Management System Sales and Growth Rate (2017-2027)
7.4.2. Europe Medication Management System Revenue and Growth Rate (2017-2027)
7.4.3. Europe Medication Management System Sales by Countries (2017-2027)
7.4.4. Europe Medication Management System Revenue (Million USD) by Countries (2017-2027)
7.4.5. Germany
7.4.5.1. Germany Medication Management System Sales and Growth Rate (2017-2027)
7.4.5.2. Germany Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4.6. UK
7.4.6.1. UK Medication Management System Sales and Growth Rate (2017-2027)
7.4.6.2. UK Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4.7. France
7.4.7.1. France Medication Management System Sales and Growth Rate (2017-2027)
7.4.7.2. France Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4.8. Russia
7.4.8.1. Russia Medication Management System Sales and Growth Rate (2017-2027)
7.4.8.2. Russia Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4.9. Italy
7.4.9.1. Italy Medication Management System Sales and Growth Rate (2017-2027)
7.4.9.2. Italy Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.4.10. Rest of Europe
7.4.10.1. Rest of Europe Medication Management System Sales and Growth Rate (2017-2027)
7.4.10.2. Rest of Europe Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5. Asia-Pacific
7.5.1. Asia-Pacific Medication Management System Sales and Growth Rate (2017-2027)
7.5.2. Asia-Pacific Medication Management System Revenue and Growth Rate (2017-2027)
7.5.3. Asia-Pacific Medication Management System Sales by Countries (2017-2027)
7.5.4. Asia-Pacific Medication Management System Revenue (Million USD) by Countries (2017-2027)
7.5.5. China
7.5.5.1. China Medication Management System Sales and Growth Rate (2017-2027)
7.5.5.2. China Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5.6. Japan
7.5.6.1. Japan Medication Management System Sales and Growth Rate (2017-2027)
7.5.6.2. Japan Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5.7. Korea
7.5.7.1. Korea Medication Management System Sales and Growth Rate (2017-2027)
7.5.7.2. Korea Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5.8. India
7.5.8.1. India Medication Management System Sales and Growth Rate (2017-2027)
7.5.8.2. India Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5.9. Southeast Asia
7.5.9.1. Southeast Asia Medication Management System Sales and Growth Rate (2017-2027)
7.5.9.2. Southeast Asia Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.5.10. Rest of Asia-Pacific
7.5.10.1. Rest of Asia-Pacific Medication Management System Sales and Growth Rate (2017-2027)
7.5.10.2. Rest of Asia-Pacific Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.6. South America
7.6.1. South America Medication Management System Sales and Growth Rate (2017-2027)
7.6.2. South America Medication Management System Revenue and Growth Rate (2017-2027)
7.6.3. South America Medication Management System Sales by Countries (2017-2027)
7.6.4. South America Medication Management System Revenue (Million USD) by Countries (2017-2027)
7.6.5. Brazil
7.6.5.1. Brazil Medication Management System Sales and Growth Rate (2017-2027)
7.6.5.2. Brazil Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.6.6. Argentina
7.6.6.1. Argentina Medication Management System Sales and Growth Rate (2017-2027)
7.6.6.2. Argentina Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.6.7. Columbia
7.6.7.1. Columbia Medication Management System Sales and Growth Rate (2017-2027)
7.6.7.2. Columbia Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.6.8. Rest of South America
7.6.8.1. Rest of South America Medication Management System Sales and Growth Rate (2017-2027)
7.6.8.2. Rest of South America Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7. Middle East and Africa
7.7.1. Middle East and Africa Medication Management System Sales and Growth Rate (2017-2027)
7.7.2. Middle East and Africa Medication Management System Revenue and Growth Rate (2017-2027)
7.7.3. Middle East and Africa Medication Management System Sales by Countries (2017-2027)
7.7.4. Middle East and Africa Medication Management System Revenue (Million USD) by Countries (2017-2027)
7.7.5. Saudi Arabia
7.7.5.1. Saudi Arabia Medication Management System Sales and Growth Rate (2017-2027)
7.7.5.2. Saudi Arabia Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7.6. United Arab Emirates
7.7.6.1. United Arab Emirates Medication Management System Sales and Growth Rate (2017-2027)
7.7.6.2. United Arab Emirates Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7.7. Egypt
7.7.7.1. Egypt Medication Management System Sales and Growth Rate (2017-2027)
7.7.7.2. Egypt Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7.8. Nigeria
7.7.8.1. Nigeria Medication Management System Sales and Growth Rate (2017-2027)
7.7.8.2. Nigeria Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7.9. South Africa
7.7.9.1. South Africa Medication Management System Sales and Growth Rate (2017-2027)
7.7.9.2. South Africa Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
7.7.10. Rest of Middle East and Africa
7.7.10.1. Rest of Middle East and Africa Medication Management System Sales and Growth Rate (2017-2027)
7.7.10.2. Rest of Middle East and Africa Medication Management System Revenue (Millions USD) and Growth Rate (2017-2027)
8. Company Profiles
8.1. Dickinson and Company (CareFusion)
8.1.1. Business Overview
8.1.2. Product Portfolio
8.1.3. Strategic Developments
8.1.4. Sales, Revenue and Market Share
8.2. QuadraMed Affinity Corporation
8.2.1. Business Overview
8.2.2. Product Portfolio
8.2.3. Strategic Developments
8.2.4. Sales, Revenue and Market Share
8.3. GE Healthcare
8.3.1. Business Overview
8.3.2. Product Portfolio
8.3.3. Strategic Developments
8.3.4. Sales, Revenue and Market Share
8.4. Allscripts, Cerner Corporation
8.4.1. Business Overview
8.4.2. Product Portfolio
8.4.3. Strategic Developments
8.4.4. Sales, Revenue and Market Share
8.5. Becton
8.5.1. Business Overview
8.5.2. Product Portfolio
8.5.3. Strategic Developments
8.5.4. Sales, Revenue and Market Share
8.6. Talyst, LLC
8.6.1. Business Overview
8.6.2. Product Portfolio
8.6.3. Strategic Developments
8.6.4. Sales, Revenue and Market Share
8.7. McKesson Corporation
8.7.1. Business Overview
8.7.2. Product Portfolio
8.7.3. Strategic Developments
8.7.4. Sales, Revenue and Market Share
8.8. Omnicell, Inc
8.8.1. Business Overview
8.8.2. Product Portfolio
8.8.3. Strategic Developments
8.8.4. Sales, Revenue and Market Share
9. Global Medication Management System Market Competition, by Manufacturer
9.1. Global Medication Management System Sales and Market Share by Manufacturer (2017-2017)
9.2. Global Medication Management System Revenue and Market Share by Manufacturer (2017-2017)
9.3. Global Medication Management System Price by Manufacturer (2017-2017)
9.4. Top 5 Medication Management System Manufacturer Market Share
9.5. Market Competition Trend
10. Medication Management System Market Forecast (2027-2023)
10.1. Global Medication Management System Sales, Revenue (Millions USD) and Growth Rate (2027-2023)
10.2. Medication Management System Market Forecast by Regions (2027-2023)
10.2.1. North America Medication Management System Market Forecast (2027-2023)
10.2.1.1. United States Medication Management System Market Forecast (2027-2023)
10.2.1.2. Canada Medication Management System Market Forecast (2027-2023)
10.2.1.3. Mexico Medication Management System Market Forecast (2027-2023)
10.2.2. Europe Medication Management System Market Forecast (2027-2023)
10.2.2.1. Germany Medication Management System Market Forecast (2027-2023)
10.2.2.2. United Kingdom Medication Management System Market Forecast (2027-2023)
10.2.2.3. France Medication Management System Market Forecast (2027-2023)
10.2.2.4. Russia Medication Management System Market Forecast (2027-2023)
10.2.2.5. Italy Medication Management System Market Forecast (2027-2023)
10.2.2.6. Rest of the Europe Medication Management System Market Forecast (2027-2023)
10.2.3. Asia-Pacific Medication Management System Market Forecast (2027-2023)
10.2.3.1. China Medication Management System Market Forecast (2027-2023)
10.2.3.2. Japan Medication Management System Market Forecast (2027-2023)
10.2.3.3. Korea Medication Management System Market Forecast (2027-2023)
10.2.3.4. India Medication Management System Market Forecast (2027-2023)
10.2.3.5. Southeast Asia Medication Management System Market Forecast (2027-2023)
10.2.3.6. Rest of Asia-Pacific Medication Management System Market Forecast (2027-2023)
10.2.4. South America Medication Management System Market Forecast (2027-2023)
10.2.4.1. Brazil Medication Management System Market Forecast (2027-2023)
10.2.4.2. Argentina Medication Management System Market Forecast (2027-2023)
10.2.4.3. Columbia Medication Management System Market Forecast (2027-2023)
10.2.4.4. Rest of South America Medication Management System Market Forecast (2027-2023)
10.2.5. Middle East and Africa Medication Management System Market Forecast (2027-2023)
10.2.5.1. Saudi Arabia Medication Management System Market Forecast (2027-2023)
10.2.5.2. UAE Medication Management System Market Forecast (2027-2023)
10.2.5.3. Egypt Medication Management System Market Forecast (2027-2023)
10.2.5.4. Nigeria Medication Management System Market Forecast (2027-2023)
10.2.5.5. South Africa Medication Management System Market Forecast (2027-2023)
10.2.5.6. Rest of MEA Medication Management System Market Forecast (2027-2023)
10.3. Medication Management System Market Forecast By Software (2027-2023)
10.3.1. Global Medication Management System Sales Forecast By Software(2027-2023)
10.3.2. Global Medication Management System Sales Market Share Forecast By Software (2027-2023)
10.4. Medication Management System Market Forecast By Mode of Delivery(2027-2023)
10.4.1. Global Medication Management System Sales Forecast By Mode of Delivery(2027-2023)
10.4.2. Global Medication Management System Sales Market Share Forecast By Mode of Delivery(2027-2023)
10.5. Medication Management System Market Forecast by End Users(2027-2023)
10.5.1. Global Medication Management System Sales Forecast by End Users(2027-2023)
10.5.2. Global Medication Management System Sales Market Share Forecast by End Users(2027-2023)
*You can glance through the list of Tables and Figures when you view the sample copy of Medication Management System Market.
List of Tables
*You can glance through the list of Tables and Figures when you view the sample copy of Medication Management System 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 |
Supply Side |
Demand Side |
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Primary Data Sources |
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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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