Human Recombinant Insulin Market, by Product Type (Rapid-Acting Human Insulin, Short-Acting Human Insulin, Intermediate-Acting Human Insulin, Long-Acting Human Insulin, and Premixed Human Insulin), by Brand (Humalog, Novolog, Apidra, Humulin R, Novolin R, Humulin N, Novolin N, Levemir, Lantus, Humalog Mix, Novolog Mix, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region - Global Forecast to 2026

  • Published On : Jun 2018 |
  • Pages : 205 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Human Recombinant Insulin Market – Industry Insights

Discovery of insulin is considered to be one of the most important events in the history of the diabetes treatment. Furthermore, major advances in human insulin technology is the synthesis of human insulin analogue by recombinant technology. Currently, human insulin delivery system available for the administration of insulin include insulin syringes, insulin pumps, jet injections, and pens. Key players are focused on developing recombinant human insulin instead of animal-based insulin, owing to increasing demand for human insulin in the treatment of diabetes. Human recombinant insulin has a faster onset of action and lower immunogenicity than pork or beef insulin. Currently human recombinant insulin is gaining significant traction with the development of biosimilar analogue of human insulin.

According to the Addressing the Challenge and Constraints of Insulin Sources and Supply (ACCISS): 2016 report, the insulin market including human recombinant insulin largely contributes around 40 local manufacturers, with largely local markets apart from three largest global insulin manufactures: Novo Nordisk A/S, Sanofi S.A. and Eli Lilly and Company. Furthermore, various manufacturers offer a recombinant analog of human insulin-like growth factor that has been specifically engineered for the research and industrial cell culture market, providing a consistent, compliant, and reliable alternative to recombinant insulin. Such manufacturers include: Merck KGaA, Thermo Fisher Scientific, Inc., among others. These manufacturers offers recombinant human insulin analogue products as a raw material or blended with custom media formulations for small scale process development and commercial biomanufacturing applications. Launch of biosimilar and other insulin products and research for recombinant insulin products is expected to drive growth of the market during the forecast period.

Moreover, rising diabetes population, worldwide combined with increasing research and development (R&D) activities by various government and private organizations in human insulin development is expected to boost growth of the human recombinant insulin market in the near future.

The global human recombinant insulin market was valued at US$ 27.4 billion in 2018, and is expected to witness a CAGR of 7.2% over the forecast period (2018 – 2026).

Figure 1: Global Human Recombinant Insulin Market Share, By Product Type:

human recombinant insulin market

Source: Coherent Market Insights Analysis (2018)

Increasing Investment in Diabetes Research Activities is expected to Boost the Growth of Human Recombinant Insulin Market

Various government and private research organizations are engaged research and development activities for developing advanced treatment in diabetes care to increase the effectiveness of human insulin, reduce diabetes burden, and minimize the risk of diabetes associated disorders such as diabetes-associated blindness, kidney disease, heart attacks, strokes or limb loss. For instance, American Diabetes Association (ADA) invested US$ 807.4 million in more than 4,700 research projects in diabetes research since 1952 till 2017. According to ADA, 2017 review, ADA invested more than US$ 37.4 million for diabetes research in 2017, and supported 371 diabetes related research projects. The European Foundation for the Study of Diabetes (EFSD): a division of European Association for the Study of Diabetes (EASD), provides funding initiatives in all areas of diabetes research. EFSD aims to accelerates and support research in the field of diabetes to introduce innovative diabetic management portfolio. 

In September 2017, Biocon Limited: an India-based biopharmaceutical firm received funding from Juvenile Diabetes Research Foundation (JDRF) to study oral insulin drug candidate: Tregopil, to evaluate the safety and tolerability in people suffering with type 1 diabetes. The collaboration between Biocon and JDRF is a part of JDRF's Industry Discovery and Development Partnership (IDDP) programme, through which JDRF provides financial support to Biocon to accelerate research in type 1 diabetes management.

Increasing Incidence of Diabetes Worldwide is expected to Drive Growth of the Human Recombinant Insulin Market

Insulin plays a vital role in diabetes management by controlling blood sugar level. Both type 1 and type 2 diabetes people are benefited by maintaining blood sugar levels. Increasing incidence of diabetes is expected to be major factor driving growth of the market in the near future. For instance, according to the World Health Organization (WHO), 2016, an estimated 422 million adults are suffering from diabetes. The major spike in incidence of type 2 diabetes over the last decade is mainly attributed to increasing prevalence of obesity. According to the International Diabetes Federation (IDF) Atlas 2017, global burden of diabetes is affecting more than 425 million people, among which one-third are older than 65 years of age. Moreover, the number of people with diabetes may rise to 629 million in 2045. Furthermore, 352 million with impaired glucose tolerance are at high risk of developing diabetes. Furthermore, continuous increase in incidence rate of diabetes, owing to unhealthy lifestyle, binge eating, obesity, overweight, physical inactivity, and insulin resistivity among global population is expected to further boost growth of the human recombinant insulin market over the forecast period.

However, high cost of insulin may restrain growth of the market, as patients from low and middle countries are unable to afford it. According to the Pharmaceutical Care Management Association (PCMA) May 2018 report, prices of insulin have increased over 10-fold since 1985 and prices have exhibited significant rise during the last past 10 years (2008 to 2018). According to PCMA, prices for Humulin/Novolin have increased from around US$ 25 per prescription in 1985 to nearly US$ 300 in 2016. Furthermore, prices for long-acting insulins have increased from around US$ 100 per prescription in 2007 to nearly US$ 400 in 2016.

Key players operating in human recombinant insulin market include Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd., and Dongbao Enterprise Group Co., Ltd.

Recombinant human insulin is the synthetic insulin, developed using recombinant DNA technology by growing insulin proteins within Escherichia coli. Recombinant human insulin has a faster onset of action and lower immunogenicity than other types of insulin such as pork or beef insulin. Human insulin is available primarily in two forms: a short acting (regular) form and an intermediate acting (NPH) form. Moreover, the premixed human insulin is formed by combining two types of insulin, among which one is controls blood sugar level throughout the day, while second type of insulin helps to control blood sugar at meal times. Human recombinant insulin market is gaining traction due to development of biosimilar analogue of insulin, worldwide.

Market Dynamics

Sedentary and unhealthy lifestyle, binge eating, obesity, impaired glucose tolerance, diabetes family history, and increased insulin resistance are some of the risk factors for developing diabetes among the global population. Moreover, increasing number of diabetic population, and growing research and development (R&D) studies in human recombinant insulin to introduce improved version of insulin in the market is expected to boost the growth of human recombinant insulin market in near future. Key manufactures are launching innovative and improved human recombinant insulin in the market to fulfill the increasing demand for insulin. According to the Addressing the Challenge and Constraints of Insulin Sources and Supply (ACCISS): 2016 report, global insulin market is largely dominated by three pharmaceutical companies: Novo Nordisk A/S, Sanofi S.A. and Eli Lilly and Company. Furthermore, Southeast Asia and Latin America accounts with higher number of smaller human recombinant insulin manufactures, than other regions. 

Key features of the study:

  • This report provides in-depth analysis of human recombinant insulin in pharmaceutical sector and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global human recombinant insulin market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
  • Key companies covered as a part of this study include Novo Nordisk A/S, Eli Lilly and Company, Sanofi S.A., Julphar Gulf Pharmaceutical Industries, Biocon Limited, Bioton S.A., Gan & Lee Pharmaceuticals, Ltd., Zhuhai United Laboratories Co., Ltd., Wanbang Biopharmaceuticals Co., Ltd. and Dongbao Enterprise Group Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics
  • The global human recombinant insulin market report caters to various stakeholders in this industry including investors, suppliers, human recombinant insulin manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the human recombinant insulin market.

Detailed Segmentation:

  • Global Human Recombinant Insulin Market, By Product Type:
    • Rapid-Acting Human Insulin
    • Short-Acting Human Insulin
    • Intermediate-Acting Human Insulin
    • Long-Acting Human Insulin
    • Premixed Human Insulin
  • Global Human Recombinant Insulin Market, By Brand:
    • Humalog 
    • Novolog
    • Apidra
    • Humulin R
    • Novolin R
    • Humulin N
    • Novolin N
    • Levemir
    • Lantus
    • Humalog Mix
    • Novolog Mix
    • Others
  • Global Human Recombinant Insulin Market, By Distribution Channel:
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • Global Human Recombinant Insulin Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Europe
      • By Country:
        • Germany
        • France
        • Italy
        • UK
        • Spain
        • Russia
        • Rest of Europe
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • South Korea
        • Australia
        • Rest of Asia Pacific
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
    • Africa
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
      • By Product Type:
        • Rapid-Acting Human Insulin
        • Short-Acting Human Insulin
        • Intermediate-Acting Human Insulin
        • Long-Acting Human Insulin
        • Premixed Human Insulin
      • By Brand
        • Humalog 
        • Novolog
        • Apidra
        • Humulin R
        • Novolin R
        • Humulin N
        • Novolin N
        • Levemir
        • Lantus
        • Humalog Mix
        • Novolog Mix
        • Others
      • By Distribution Channel:
        • Hospital Pharmacies
        • Retail Pharmacies
        • Online Pharmacies
  • Company Profiles
    • Novo Nordisk A/S *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Developments
      • Strategies
    • Eli Lilly and Company
    • Sanofi S.A.
    • Julphar Gulf Pharmaceutical Industries
    • Biocon Limited
    • Bioton S.A.
    • Gan & Lee Pharmaceuticals, Ltd.
    • Zhuhai United Laboratories Co., Ltd.
    • Wanbang Biopharmaceuticals Co., Ltd.
    • Dongbao Enterprise Group Co., Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Brand
      • Market Snippet By Distribution Channel
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Insulin Market Profile
    • Marketing Code Breaches
    • Market Trends
    • Key Highlights 
    • Top Global Insulin Manufacturers
    • Pipeline Analysis
    • Regulatory Scenario
    • Reimbursement Scenario
    • Epidemiology
    • PEST Analysis
  4. Global Human Recombinant Insulin Market, By Product Type, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Rapid-Acting Human Insulin
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Short-Acting Human Insulin
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Intermediate-Acting Human Insulin
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Long-Acting Human Insulin
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Premixed Human Insulin
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  5. Global Human Recombinant Insulin Market, By Brand, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Humalog
      • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
    • Novolog
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Apidra
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Humulin R
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Novolin R
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Humulin N
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Novolin N
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Levemir
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Lantus
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Humalog Mix
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Novolog Mix
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  6. Global Human Recombinant Insulin Market, By Distribution Channel, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Hospital Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Retail Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Online Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  7. Global Human Recombinant Insulin Market, By Regions, 2016 - 2026 (US$ Million)
    • Market Share Analysis, By Region, 2017 and 2026 (%)
    • Y-O-Y Growth Analysis, For Regions, 2017 - 2026
    • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
    • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
    • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
    • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
      • U.S.
      • Canada
    • Introduction
    • North America
    • Europe
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Brand, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Distribution Channel, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
  8. Competitive Landscape
    • Company Profiles
      • Novo Nordisk A/S
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Eli Lilly and Company
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Sanofi S.A.
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Julphar Gulf Pharmaceutical Industries
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Biocon Limited
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Bioton S.A.
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Gan & Lee Pharmaceuticals, Ltd.
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Zhuhai United Laboratories Co., Ltd.
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Wanbang Biopharmaceuticals Co., Ltd.
        • Company Overview
        • Technology Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Dongbao Enterprise Group Co., Ltd.
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse 35 market data tables and 42 figures on "Human Recombinant Insulin Market - Global forecast to 2026”.

Research Methodology

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  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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