Competitive Intelligence for Healthcare: Data. Intelligence. Decisions.

Competitive Intelligence for Healthcare: Data. Intelligence. Decisions.

In recent times, the healthcare (life sciences, pharmaceutical. medical devices) companies are struggling to raise funds, especially early-state discovery and development, thus moving away from the blockbuster model. The sector is not only characterized by an enormous diversity, but also uncertainty. Consolidations (M&A, JVs), collaborations (co-development, co-marketing) and licensing (In- and Out-licensing) agreements are on the rise to enrich the pipelines, while new pharmaceuticals, biologics, medical devices and diagnostics are becoming the main growth driver.

The comprehensive analysis can provide timely and accurate intelligent information to companies for making the prediction of future development and decision making rather easy.  The analysis also presents an opportunity to acquire valuable additions to the product portfolio and technological base.

Two areas of competitive intelligence

  • Science and Technology related
  • Business related

Comprehensive business intelligence and industry value chain

  • Research: Focused on disease analysis, platforms, technologies, targets – New Product development: diagnostic, drug, biologic, or device
  • Licensing: Focused on potential products, mechanism of action, company reviews, competitive bidders, IP (patents), technology transfer
  • Clinical development: Focused on clinical endpoints, potential claims, time to market, clinical issues
  • Manufacturing: Focused on bulk sources, cost analysis, capacity, technical assessments
  • Marketing: Focused on phase III & IV, market dynamics, regulatory environment

Sources of Information

Annual reports, scientific papers, key opinion leaders, trusted industry sources, primary source interviews, public and proprietary databases (patents, regulatory filings, clinical trials), financial reports, press releases, product information, and investor relations documents, other sources including analysts, industry and government reports, trade publications, marketplace surveys, expert- customer- supplier-interviews, etc.

Patents and Competitive Intelligence

The healthcare industry is facing significant challenges to conduct the business as it is entering a low-margin environment as a result of factors such as loss of patent protection, lack of new product development, and greater thresholds for commercialization of new products.

Patents are the most valuable and comprehensive source of the technological information and thus offer a business competitive intelligence by revealing a competitor’s strengths and strategies. A very strong patent portfolio and IPR system is needed for an industry to compete in the global marketplace. The information can be used in locating partners for cross-licensing and collaboration.

The pervasive use of business intelligence and big data analytics in the life sciences or pharmaceuticals industry is an effective mean to improve efficiency and productivity. There is a need to drive the industry to gain more insight from large and more diverse data sets to bring down the cost of discovery and development.

The solutions would typically cover the following functional, technological and services areas:

  • Technology Profiling
    • Patent landscaping
    • Closer inspection of specific technology
    • Yearly trends in patenting
    • Comparing the portfolio against the competitors in the same field
    • Freedom-To-Operate
  • Commercial Potential
    • Partnership agreements – (R&D decisions)
    • Licensing agreements (in-, Out-, and Cross-)
    • Technology competencies and market opportunities
  • International Market
    • Technology component of M&A
    • Marketing plans
    • Entry strategies

At the same time, the solutions for the ‘Big data’ could be delivered ‘On the Cloud’ comprising of enterprise performance management, predictive analytics, and query tools to better and faster decision making for life sciences industry.

Typically, whoever knows more in advance and responds to that knowledge quickly wins!

2016-12-29T16:44:08+00:00 Categories: Analyst Insights|