Market Research

The pharmaceutical industry is changing. In the wake of the pandemic, new records have been set and barriers have been broken around researching, developing, and deploying therapeutics.

These changes have altered the pathway for regulatory approval within the life sciences industry. In the race to find a vaccine, widespread collaboration became the norm, with pharmaceutical companies, not-for-profits, and academic institutions openly sharing their data and research.

To stay competitive in an ever-changing marketplace, life science companies need to demonstrate their detailed knowledge of customers: HCPs (healthcare professionals), patients, and caregivers.

Market research helps build an understanding of both past and current markets from the perspective of key stakeholders. It also helps companies gather the necessary information to analyse (and identify) their market as well as their competition.

Since 2004, the team at Lifescience Dynamics has been helping companies across the pharmaceutical, biotech, and medtech sectors to understand their audiences more deeply, so they can interact with them more effectively.

Our primary market research engagements are tailored to the individual needs of our clients. We bring deep expertise in both qualitative and quantitative research coupled with strong disease area subject matter expertise. Our market research helps brands build a sustainable competitive advantage – generating insights and converting them into the foresight that ignites growth.

Primary market research

Understanding key stakeholder needs and behaviour requires primary market research, which is a first-hand collection of qualitative or quantitative data sourced from surveys or interviews. Deep knowledge of therapy areas and prevailing market dynamics enables our teams to design tailored and robust online surveys and interview discussion guides to get at the heart of the client’s business questions.

For qualitative market research, the moderator is an integral part of the process. Our moderators are drawn from our in-house pool of life science MSc and PhD holders. There are over 15 native languages spoken collectively across the team, which helps immensely in striking rapport with our respondents. Our moderators create a warm atmosphere and make sure the respondents are comfortable, relaxed, and able to open up during these interactions.

We also execute ad hoc primary market research, tailored to the individual needs of our clients. We are experts in both qualitative and quantitative research methodologies and have experience working with healthcare professionals in addition to patients and their caregivers across a wide spectrum of therapeutic areas.

We sometimes recommend the use of iAdBoard®, our proprietary cloud-based platform that allows dynamic discussions between payers, key opinion leaders, physicians, and patients. Unlike a standard online bulletin board, iAdBoard® fields a pre-designed questionnaire but also allows healthcare-specialised moderators to ask follow-up probes and encourage participants to react to each other’s responses. This enables a whole new dimension to primary research that is not available with traditional research techniques.

Regardless of the fielding technique used, we apply ethical questioning approaches, which have been proven to extract difficult-to-access feelings and deep-seated beliefs. Our expert team triangulates and vets each piece of information, connecting the dots to convert actionable insights to strategic foresight, and empowering our clients to succeed.

Secondary market research

We provide high-value intelligence by collating and analysing data that has already been collected or generated. Our secondary analysis triangulates across numerous sources, including the public domain and a vast range of paid databases that most market research firms do not have. Our proprietary tools such as DynamicTracker allow us to accurately and efficiently track changes in clinical trials in real-time and identify key new studies.

Our team is highly skilled and well-trained in both scientific & commercial disciplines. This allows us to declutter data streams, mix in findings from relevant primary research, and work to uncover patterns and spot trends, bringing vast, unstructured, and conflicting data alive. Through our blend of expertise and strategic focus, our team proactively delivers both tactical and strategic support in complex competitive environments.

Our ad-hoc market research engagements are designed to suit your needs. We combine the below methodologies to create a tailored hybrid approach as required:

Secondary market research

  • Market landscape and epidemiology
  • BD&L: Indication / Asset prioritisation
  • Therapy utilisation and brand performance tracking

Primary market research – qualitative

  • Concept & Message testing
  • TPP assessment
  • Congress research
  • Market landscape
  • Opportunity assessment
  • Patient journey / Buying process
  • Positioning
  • Promotional effectiveness evaluation
  • Segmentation

Primary market research – quantitative

  • Demand research
  • Patient chart studies – Patient Record Form
  • Message testing
  • Performance tracking & ATUs
  • Pricing
  • Segmentation and targeting

What sets us apart?

Elevated insights

Since 2004, we have delivered high-value, high-impact insight converted into foresight. Our deep scientific and therapeutic understanding influences everything we do, from our discussion guides to our questionnaires and advanced analytics. We draw upon our disease area experience and considerable expertise to extract insights that bridge diverse sources of data and inform decisive action.

Innovative tools and techniques

In addition to the traditional qualitative and quantitative market research techniques, we have developed (and perfected) special tools that generate richer insights. Our proprietary platform, iAdBoard®, gathers information from hard-to-reach respondents and methodologies. This allows us to augment the customer perspective and provide intelligence on competitor activity for a unique, holistic perspective on the market. 

Holistic market overview & thought partnership

Operating across four different practice areas, our team goes beyond traditional market research to provide tailored insights and recommendations. Our work is guided by our strong business acumen, in-depth understanding of market dynamics, and intimate therapy area knowledge. We present complex data in a clear, graphical, intuitive manner, and adapt our analysis, foresight, and actionable recommendations to your specific situation. Our reports are factually correct, action-focused, and C-suite-ready.

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Focus groups and advisory boards at your fingertips

Our web-based virtual advisory platform allows dynamic discussions between payers, KOLs, physicians and patients. All under the moderation of healthcare-specialised moderators.

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  • London, UK
  • Toronto, CA
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