For pharmaceutical, healthcare, and clinical review organizations, understanding industry trends, insight into your competitors’ practices, and knowing how you can better serve your clients and consumers are all critical components to your organization’s success. Often, you can establish a foundation of knowledge through syndicated market research, and ISR is the trusted source for the information you need in the pharmaceutical and healthcare industry.
What is Syndicated Market Research?
Syndicated research is a research study which is designed, administered, and funded by a market research company. All the findings are compiled into a report, presentation, or are simply left as raw data and made available to purchase through an open market. Typically, these studies are broad, covering industry-wide topics and sampled from a more generalized audience in order to provide information at the categorical level.
At ISR, our syndicated research reports span a wide variety of topics related to clinical research, pharmaceuticals, and healthcare in order to provide our clients with foundational information related to specific topics and to provide context to emerging trends.
How Syndicated Market Research Reports Benefit Your Company
Even though you won’t gain customized insight and company-specific details from syndicated research, it’s still highly recommended for exploratory research. If your organization wants to expand into a market, using syndicated data can provide you with a broad look at what consumers like or don’t like, what they’re looking for, and what brands and organizations stand out to them. You can use this data to see if expansion is right at the time or how you can improve your likelihood of success.
Additionally, you can use reports and data for context. If changes are happening in the pharmaceutical industry, such as the rapid growth of biologics, you can find a broad report that breaks down the direction of bioprocessing market trends. Information like this shows you whether a trend is most likely to continue and thus, you should invest more heavily, or if it appears to be short-lived, and thus, risky for investing.
Most often, you can use these reports as the foundation to your own custom research study. For example, you can learn how your brand and products are viewed compared to your competitors and where your organization stands in the market overview. With this information, you can form a custom market research strategy to gain insight into company specific information.
Syndicated Market Research vs. Custom Market Research
If you are in need of data for your organization, should you choose syndicated data or custom research? You need to consider three key criteria:
Scale of Data Needed
If you need a “birds eye” view of the industry, need to get a better understanding of trends or know where your organization stands in the consumer’s viewpoint in comparison to competitors, the large scale and broad scope of a syndicated study will provide you with valuable insights.
Syndicated research highlights trends and changes on an industry basis, which allows you to position yourself more strategically against competitors.
Syndicated research is significantly less expensive than custom research. Instead of investing a large sum into a custom project you design with a syndicated research company like ISR, you can purchase one of our reports to gain the insight you need. After using the report, you can work with ISR to create a more detailed, data-backed study that will provide you with the answers you need.
Gain the Insight You Need with Our Syndicated Market Research Services
Whether you need a starting point to access data in the pharmaceutical industry or you need an in-depth look at industry trends, our broad selection of syndicated research reports will provide you with the information you need. For questions related to our reports or to set up a consultation for custom market research, reach out to us today at 919-301-0106 or email us at firstname.lastname@example.org