Life sciences is a booming industry with a highly positive outlook. According to a 2018 report by Deloitte, life sciences is fully embracing the fourth industrial revolution and experiencing exponential changes in technology, research, manufacturing, product distribution, and meeting consumer expectations. It’s an exciting time to be in a transformative industry where companies are preparing for the future and open to new operating models and strategic alliances that can help them grow.
By 2022, the life sciences industry is expected to reach $1.5 trillion driven by innovative partnerships as well as R&D and IT investments, according to the “Global Life Sciences Industry Outlook, 2018” report by ResearchAndMarkets.com. So, the question is, how do you get involved in the life sciences industry?
There are a handful of global firms and a large variety of small- to medium-sized life sciences consulting firms that specialize in the industry—some that focus their efforts across the whole value chain and others that focus on a specific portion of the lifecycle. In either case, these consulting companies help the life sciences industry navigate the private and public sector and understand the critical issues of the day. The key is to choose the best life sciences consulting firm for you.
To get you started, we’ve highlighted two of the top life sciences consulting firms from within Ivy Exec’s premium company profiles that you should have on your radar in 2019. Each of these firms offers something unique to the industry and has a business, employees, and culture that makes it stand out.
Decision Resources Group
Decision Resources Group is a global information and technology services company dedicated to providing solutions for the life sciences industry. They’re known for their end-to-end solutions to complex challenges for both biopharmaceutical and medical technology organizations. They offer a variety of services from R&D to commercial strategy, HEOR, market access, new product planning, marketing data insights and analytics, business development, and channel & segment customer engagement.
With 17 offices in six countries, this well-known consulting group is a thought leader in the life sciences industry with clients that span the healthcare landscape. They’ve worked with companies on cancer research, Peripheral Arterial Disease (PAD), Alzheimer’s, health plan profiles, drug development, outpatient surgeries, and more.
As for why Decision Resources Group is a great company to work for, there are many reasons. According to a current senior consultant they offer “incredibly interesting work, a high level of trust from clients, ample focus from leadership team on encouraging professional development, and phenomenal culture driving by supportive, intelligent, and fun colleagues.” And that opinion isn’t alone. 96% of employees would recommend the company to a friend; 84% of employees say it’s a “great place to work;” and 88% are proud to have Decision on their resume.
At the end of last year, the company released a report about the eight drug pricing disrupters coming to the commercial market in 2019, and that’s just one of their thought leadership reports. They’ve also released snapshots of the US market for spinal implants and neurostimulation.
As a boutique consulting firm, CBPartners is a stand out in the life sciences industry. The company is committed to providing strategic support to multinational pharmaceutical, biopharmaceutical, and medical device companies along with government health authorities. A quarter of the firm’s business is located in emerging markets, and 2018 showed a redoubling of focus on their Latin American Centre of Excellence as Brazil became CBPartners’ fourth-largest market for business engagements. Their services cover value, access, and pricing, commercial planning, portfolio optimization, and government policy.
CBPartners has clients that span the entire lifecycle from discovery and development to licensing, product launch, and government policy development. With offices in New York City, San Francisco, London, as well as a strong presence in Shanghai China, CBPartners has a reach that crosses the globe.
As for what it’s like to work for CBPartners, it’s a place that employees love. That’s why 100% of employees would recommend the company to their friends and 88% are proud to have it on their resume. According to one current consultant, “everyone is extremely approachable” and the company has a “culture of learning” with people regularly talking to each other and experiencing new things.
And at the end of 2018, the company delved into the evolving reimbursement dynamics in China, and have since followed up with further insights about the impact of policy updates in this country, indicating their experience and continued interest in the emerging markets through thought leadership.
Working in the life sciences sector can be an exciting and rewarding career choice over the next few years. And if you choose a firm that has a large variety of clients and covers a cast array of services, there’s no knowing what challenges you could solve.