Webinar: Prospering in a Down Market: Strategies for Life Science Suppliers
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Transcript of Webinar: Prospering in a Down Market: Strategies for Life Science Suppliers
Confidentialwww.gene2drug.com Slide 1
Research in Action
Copyright NoticeThe following presentation is prepared as a professionalcourtesy to our valued clients. The material in thispresentation is protected under U.S. and Internationalcopyright law and may not be reproduced in any formwithout permission of BioInformatics, LLC.
Please contact a BioInformatics representative for information on the re-use of this material.
Prospering in a Down Market:Strategies for Life Science
Suppliers
Confidentialwww.gene2drug.com Slide 2
Introduction Report Goals Report Leadership Team Questionnaire Design The Science Advisory Board
Today’s Agenda
*This presentation is meant to provide a broad overview and includes onlya small sample of the findings from the report.
What We Found Out* Changes in Sources of Funding Planned Changes in Expenditures by Product Category How Worried are the Scientists? A Window of Opportunity — How You Can Help
Wrap Up Report Summary Putting the Report to Work for You
Confidentialwww.gene2drug.com Slide 3
Report Goals
This Report Will Enable You To:
Understand current sources of funding for life science research anddrug discovery efforts
Compare and contrast FY2008 (actual) and FY2009 (projected) budgets
Measure scientists’ level of concern with the impact of the economiccrises on their lab’s operating budgets
Anticipate purchases in capital equipment and consumables across 14product categories
Identify strategies labs will employ to “stretch” budgets and cut costs
Confidentialwww.gene2drug.com Slide 4
Report Leadership Team
Tamara Zemlo, Ph.D. M.P.HAs Director of Syndicated Research and Analysis, Tamara serves as the company's senior technical andscientific analyst. Tamara has authored over 75 published reports for BioInformatics in addition to manyarticles on life science technologies for leading trade publications and scientific journals. Prior to joiningBioInformatics, Tamara was Associate Director of Science Policy for The Federation of AmericanSocieties for Experimental Biology (FASEB). She was also a Cancer Prevention Research Fellow at theNational Cancer Institute (NCI). Tamara received her Ph.D. in Oncology from the University ofWisconsin-Madison and her M.P.H. from Harvard University.
Stacy HankinAs Senior Business Analyst, Stacy's primary responsibilities include performing statistical analysis ofsurvey data, designing quantitative and qualitative studies, and ensuring client satisfaction with dataanalysis. She is often the lead analyst for studies designed to measure brand strength, customer loyalty andsatisfaction using a variety of analytical techniques and statistical models. Her work has been used tolaunch new brand platforms, measure the effectiveness of advertising campaigns, formulate customerretention strategies and acquire new customers through targeted messaging based on segmentationanalysis. Stacy received her bachelor's degree with a double major in Marketing and Logistics,Transportation and Supply Chain Management from the University of Maryland. She is currentlypursuing a Graduate Certificate in Survey Design and Data Analysis from George WashingtonUniversity.
Confidentialwww.gene2drug.com Slide 5
Questionnaire Design
Confidentialwww.gene2drug.com Slide 6
Questionnaire Design (continued)
Pharma(15%)
Biotech(18%)
University(38%)
Hospital(12%)
Source: The ScienceAdvisory Board
Segment influences experience with the economic recession: Funding sources Budget size Types of products used Lab culture
AcademiaIndustry
Hypothesis
Survey Populationn = 500+
Key Targets
Confidentialwww.gene2drug.com Slide 7
The Science Advisory Board
Confidentialwww.gene2drug.com Slide 8
Funding Sources
Pharma(15%)
Biotech(18%)
University(38%)
Hospital(12%)
Federal government grants Departmental funds Institutional funds Private foundation grants
R&D expenditure Departmental funds Institutional funds Venture capital
1. What are scientists’ sources of funding?2. What percent does each source constitute? 3. How will these funding sources change over time?
Industry Academia
Key Questions:
Confidentialwww.gene2drug.com Slide 9
Funding Sources (continued)
Contracts expectedto increase 18.6%over the next 2-3years
Research in Action:
Identify shiftingcustomer patterns:“CROs may become akey target market forsome product areas.”
Project realisticrevenue goals
Refine marketingstrategy
Confidentialwww.gene2drug.com Slide 10
Budget Size
Pharma(15%)
Biotech(18%)
University(38%)
Hospital(12%)
39%………………Evaluate……..…………36%
59%…………Budget Authority……….…61%
AcademiaIndustry
1. What are scientists’ annual operational budgets?2. What percent is devoted to capital equipment,
instrumentation, and consumables? 3. How will these budgets change over time?
Key Questions:
Confidentialwww.gene2drug.com Slide 11
Budget Size (continued)
Research in Action:
Estimate how muchyour customers haveavailable to spend Project spendingestimates by productcategory“Aren’t things better?”
Stimulus affects mainlyacademic labs
Grants already approvedfunded first
Benefits from stimulusexpected late FY2009 (atearliest)
Lab budgets expectedto decrease fromFY2008 to FY2009 by6.3%
Confidentialwww.gene2drug.com Slide 12
Types of Products — Consumables
Consumables
Cell biology kits and reagents Cell culture media and reagents Gene expression analysis products Nucleic acid separation and purification products Plasticware Protein purification and separation products RNAi products
1. Who are the top suppliers in each category?2. What are the expected changes in product spending?3. What are common cost-saving measures for consumables? 4. How willing are respondents to switch suppliers?
Key Questions:
Confidentialwww.gene2drug.com Slide 13
Consumables (continued)
Ordering in bulk isa common cost-saving measurefor plasticware
Research in Action:
Adapt productdevelopment andpositioning tocustomer behavior
Attract newcustomers withtargeted pricereductions
Confidentialwww.gene2drug.com Slide 14
Types of Products - Instrumentation/Capital Equipment
Instrumentation/Capital Equipment
Cell biology instruments (Flow cytometer-based) Cell biology instruments (Microscope-based) Computer hardware High throughput screening and analysis systems Image analysis systems Instrumentation for genomic analysis Instrumentation for protein analysis
1. Who are the top suppliers in each category?2. What is the expected change in spending for
FY2009 compared to FY2008?3. When was the most recent equipment purchase(s)? 4. Are respondents planning on purchasing equipment in
FY2009 and FY2010?
Key Questions:
Confidentialwww.gene2drug.com Slide 15
Instrumentation/Capital Equipment (continued)
Research in Action:
Help anticipatedecline in sales byproduct category
Make plans forsecuring future sales
Analyze one’s marketshare relative to keycompetitors Instrumentation
for genomicanalysis is theleast affectedproduct category
Confidentialwww.gene2drug.com Slide 16
Lab Culture - Cost Saving Measures
Research in Action:
Develop compellingmarketing strategiesto encourage sales bysegment
Create reassuring adcopy and salesmessages
Understand regionalimpacts
Adoption ofcost-cuttingmeasures canvary greatly bymarket segment
Confidentialwww.gene2drug.com Slide 17
Lab Culture - Key Trends
More West Coastrespondents areinterested in USED highthroughput screeninginstrumentation
Research in Action:
Uncover productlines vulnerable toused instrumentationmarket
Re-evaluate value ofservice offerings
Assess success ofgreen strategies
Data presented bymarket and region
Confidentialwww.gene2drug.com Slide 18
Lab Culture - What Suppliers Can Do
Research in Action:
Learn how to enticelabs to buy more
Understand yourcustomer credibility
Discover unique waysto increase customerloyalty
More academicthan industrialrespondents areinterested in buyone get one freeoffers
Data presented bymarket and region
Confidentialwww.gene2drug.com Slide 19
Report At a Glance
Impact of Economic Crises on Laboratory Budgets
FY2008 & FY2009 annual operational budgets by market segment
Percentage of budgets spent on major product categories
Sources of lab funding for FY2008 & FY2009
Confidentialwww.gene2drug.com Slide 20
Report At a Glance (continued)
Scientists’ Reaction to Economic Crises
Impact of recession on current research by geographic region
Level of concern regarding recession’s effects on research
Top 3 areas in the lab most affected by economic climate
Impact of budgetary restrictions on organizations
Economic philosophy for managing lab budgets
Confidentialwww.gene2drug.com Slide 21
Report At a Glance (continued)
Anticipated Changes in Laboratory Purchases
Top supplier(s) in each product category
Expected changes in product purchases from FY2008 to FY2009
Capital Equipment: Most recent purchases
Intent to purchase in FY2009 &FY2010
Consumables: Cost-saving measures used
Willingness to switch suppliers
Confidentialwww.gene2drug.com Slide 22
Report At a Glance (continued)
Adoption of Cost-Saving Lab Practices
Current laboratory-wide cost-saving measures
Interest in adopting additional cost-saving measures
Effect of cost-cutting on service contracts
Attractiveness of special offers from suppliers
Interest in & credibility of suppliers’ advice for how to conservereagents and extend the shelf-life of instrumentation
Interest in & willingness to pay for green products
Confidentialwww.gene2drug.com Slide 23
How This Report Works for You
This Report will enable you to…
Provide valuable information to Boards of Directors, analysts andinvestors
Pinpoint areas of growth, stability and decline by market segment,geographic region and product category
Reposition marketing and sales resources
Tailor marketing programs to increase customer loyalty & preventswitching to lower cost suppliers
Target R&D and Product Development towards growth areas
Confidentialwww.gene2drug.com Slide 24
Thank you
Questions? Or to purchase this report:
Mary Follin703-778-3080 ext. 13
Electronic/Enterprise: $5,200
Print Copy: $3,200