The life sciences market is longing for digital innovation as the industry jumps from a world of making long-term bets to a new era where the successful players are categorized by fast fails and ‘minimum viable product
Dallas, TX (PRWEB) April 10, 2017
Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing, has identified the hottest startups in the life sciences industry—companies that have gained significant market traction and are driving disruption.
Everest Group assessed more than 150 candidates on technology and business disruption as well as market buzz to arrive at the final list of hot life sciences startups, 20 companies comprising three key investment areas: drug discovery/research; clinical and pre-clinical trials; and sales and marketing.
The drug discovery/product development phase of life sciences has traditionally been the bottleneck that impedes innovation within life sciences companies. Innovative startups in this space leverage analytics, cloud computing and automation principles to help life sciences companies overcome innovation challenges. This not only results in better research turnaround time but also enhances operational efficiency, compliance and accuracy. These 10 startups are leading the way:
- Emerald Therapeutics
- GNS Healthcare
Clinical and pre-clinical trials
Clinical trials execution faces the dual challenge of cost optimization and non-availability of trial targets. Leading startups in this space are leveraging natural language processing, analytics, social media and IoT technologies to deliver a patient-centric clinical trials approach that results in faster trial execution. Startups are also addressing data standardization and real-time data capture and processing issues. These five companies are the hottest startups in this space:
- Comprehend Systems
Sales and marketing
Life sciences firms serve a range of market constituents, with distinct needs requiring differential sales and marketing strategies to actively engage with customers. Startups in this area leverage machine learning and predictive analytics to help life sciences firms build coherent customer relationship management solutions that focus on outcomes. Startups also play a key role in combating counterfeit drugs by leveraging IoT and mobile technologies. These five companies are driving disruption in the sales and marketing category:
- Zephyr Health
“The life sciences market is longing for digital innovation as the industry jumps from a world of making long-term bets to a new era where the successful players are categorized by fast fails and ‘minimum viable product,’” said Abhishek Singh, practice director, healthcare & life sciences research, at Everest Group. “Life sciences companies are recognizing the need for agility and innovation in their businesses and are addressing the issue through technology leverage, seeing startups as a key partner to drive their agendas.”
In its newly published research, “Hot Life Sciences Startups: Friends, Foes, and Frenemies in the Innovation Ecosystem,” Everest Group explores the life sciences industry with respect to its challenges, technology implications, and investments being made by life sciences firms. The report also addresses the hot healthcare startups, identifying the key players driving disruption. In addition, the research provides an overview of funding scenarios and leading investment areas.
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- Technology in Life Sciences: alliances with startups can help to address challenges
- Hot Startups: clinical and pre-clinical trials
- Hot Startups: drug discovery/product development
- Hot Startups: sales and marketing
About Everest Group
Everest Group is a consulting and research firm focused on strategic IT, business services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well-informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness. What sets Everest Group apart is the integration of deep sourcing knowledge, problem-solving skills and original research. Details and in-depth content are available at http://www.everestgrp.com.
Andrea M. Riffle, Everest Group
Robert Cathey, Cathey Communications for Everest Group