Life Science Tools & Services
Innovations in research tools and technologies are rapidly transforming healthcare and life sciences, improving sensitivity, precision, and throughput, and allowing scientists in industry and academia to answer questions that were previously not addressable. Such innovation is critical for scientific and medical advances, but as the market evolves, it creates new business challenges for life science tools and services companies.
At Health Advances, we work with companies and investors to develop strategies advancing innovation, accelerating transformation, and achieving long-term success.
Who We Are
Life science research is highly technical and requires seasoned consultants that can leverage both a technical and business background to understand the nuances of customer requirements and key product features. Our staff of PhDs, MBAs, and senior leaders with direct experience in the life sciences industry are ideally positioned to provide the sound recommendations needed to drive exceptional growth.
Who We Serve
Our firm supports clients across the entirety of the life science research value chain, including:
- Biotech companies
- Instrumentation and parts manufacturers and suppliers
- Reagents providers
- CROs, CDMOs, and other service providers
- Logistics and supply chain firms
- Software developers
What We Do
Our firm supports clients across the entirety of the life science research value chain, including product manufacturers, service providers, software developers, supply chain organizations, and investors.
Health Advances aims to deliver unique and transformative solutions for life science clients to address the most challenging questions throughout the lifecycle of the products.
Common Health Advances Project Types
Global corporate strategy: Develop outline of management activities to meet major goals and initiatives, including portfolio assessment and cost reductions
- Expansion strategy: Assist companies with expansion, from new market assessment to identifying and valuing specific M&A targets for bolt-on additions and determining essential quality criteria for novel product and service development
- Commercial roadmap: Outline commercial plan and identify requirements to increase utilization and drive new customers, including market landscape analysis, customer segmentation, customer targeting, and partnership strategies
- Distribution and partnership strategy: Map customers, distribution channels, and processes across geographies and develop a partnership strategy that helps reach target customers while meeting company objectives
- Opportunity assessment: Assist innovators in identifying the most attractive opportunity for new research tools, methods, and services, including pricing strategy and go-to-market planning
- Buy and sell side commercial due diligence (CDD): Perform commercial assessment of Target businesses, including revenue and market size forecasting, market dynamics, Target right to win, and potential growth opportunities for the business
. . . and many more
Life Science Tools & Services Case Studies
Working with a global life science tools company, Health Advances developed a go-to-market strategy for a single-cell transcriptomics sequencing technology and analysis software. Our team developed a detailed guide and interviewed over 40 decision-making academic and biopharma experts to probe on key workflow challenges, competitors, and opportunities for our client. Additionally, we conducted a conjoint survey with over 100 experts to evaluate preferred product features and pricing models. The project deliverables include mekko charts of customer preferences, recommendations on analysis software configuration, and roadmaps for several products’ launch.
A market leader in lab analytical tools and automation explored opportunities to invest in sample preparation automation, and asked Health Advances to evaluate potential target companies. Our team first evaluated several end markets to identify attractive segments that have the most potential and opportunities. By talking to directors and division heads of biopharma and CDMOs, we narrowed down to the top three most attractive markets and relevant innovative tools that aid sample preparation automation. Finally, our team profiled over 30 potential targets and recommended the top 10 to our client based on customer needs, technical differentiation and strategic fit.
Health Advances helped an innovator with a unique next generation sequencing technology to assess both clinical and research market including applications, market size, workflow benefits and strategic implications. Our team prioritized three near-team and three visionary applications based on client’s value proposition, differentiated technology, market attractiveness across several geographic regions. Our final deliverables include several market sizing models with detailed sourcing and rationales on assumptions, as well as market opportunity summaries of top clinical and research areas.
A specialized CRO aimed to enter mass spectrometry (MS) market and engaged Health Advances for opportunity assessment. Our team first leveraged several secondary resources to identify key competitors, potential unmet needs and growth drivers in the MS space. Next, we interviewed biopharma R&D experts across all company sizes and therapeutic modalities to understand use and outsourcing practices of MS. Our final deliverables demonstrated the client’s unique value proposition and provided a strategy to best capture new opportunities in the MS space.
A large biopharma company wanted to evaluate potential analytics partners in the life sciences in the US and Europe. Health Advances helped build analytics landscape framework to guide the assessment. Partnered with our internal digital health experts, our team clustered and prioritized several analytics platforms and solutions, which were delivered and iterated via three strategy workshops.
Life Science Tools & Services Leadership
- Biotech & Pharmaceuticals
- Diagnostics, Research Tools, & Precision Medicine
- Digital Health & Enterprise HIT