Sedulo Group's Life Sciences Competitive Intelligence Report Reveals Key Metrics and Unique Insights from 90 Companies

Sedulo Group's First Life Sciences Competitive Intelligence Report based on 109 responses from 90 companies with data on CI structure, budgets, trends, and more

LOUISVILLE, KY, UNITED STATES, September 11, 2024 /EINPresswire.com/ -- Sedulo Group, a leading competitive strategy consultancy, has released the 2024 Life Sciences Competitive Intelligence Survey Report, providing valuable insights on the state of competitive intelligence (CI) practices and trends in the life sciences industry. Based on data from 109 respondents representing 90 different life sciences companies, the report identifies the real-world practices, budgets, and structure of competitive intelligence in the Pharmaceutical, Biotechnology, and Medical Device industries.

The data provides a rich representation of experiences and perspectives, delivering insights that reflect a broad composition from the life sciences industry. Most respondents work in dedicated insights functions, such as competitive intelligence, market research, and analytics. However, some came from other departments, including marketing, strategy, commercial operations, and R&D, where competitive intelligence supports their decision-making. Over 70% of respondents have more than a decade of experience in the industry.

Key Findings from the Report Include:

* CI Structure: While organizations of all sizes commonly embed the CI function into brand, marketing, and R&D teams, once a company exceeds 1,000 employees, there is a clear shift to CI structured as a standalone function.
* CI Vendors: 64% of the time, companies engage external CI vendors in the earlier stages of development, between Pre-clinical, Phase 1, and Phase 2, to focus on early identification of potential competitors, assessment of the competitive landscape, and validation of their target product profiles.
* CI Growth: Less than 2% of organizations reduced headcount in 2024, while almost a quarter grew more than 10%, half of those over 20%.
* CI Budget: 85% of respondents maintained or increased their budgets this year, with 25% increasing their budgets by over 10%.

"The 2024 Life Sciences Competitive Intelligence Survey Report is a game-changer for organizations looking to improve their CI capabilities and stay current on best practices," said Travis Koberg, CEO of Sedulo Group. "This report provides actionable insights and demographic data, allowing companies to compare themselves across the industry and make informed decisions."

"This report was created by life sciences CI professionals for life sciences CI professionals. The data and insights in this report are essential for anyone in the industry," added Heath Gross, Founder and Chief Strategy Officer of Sedulo Group. "By understanding the CI landscape and trends, organizations can stay ahead of the competition and make strategic decisions to drive growth and success."

The 2024 Life Sciences Competitive Intelligence Survey Report is available for free at sedulogroup.com/life-sciences-ci-survey-report/.

About Sedulo Group:
Sedulo Group is a full-service competitive strategy consultancy offering competitive intelligence (CI), market intelligence (MI), and strategy consulting services. As a thought leader in the life sciences space since 2006, Sedulo specializes in blending expert primary and secondary intelligence services with strategic analytical tools to deliver fact-based insights and implications that support strategic business decisions. To learn more about how Sedulo Group provides “Insights to Maximize Competitive Advantage,” visit https://sedulogroup.com/.

Media Contact:
Jennifer Sayers
jsayers@sedulogroup.com

Jennifer Sayers
Sedulo Group
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