PEL’s Healthcare Insights & Analytics business has evolved from being a provider of syndicated market research reports into a diversified data, and analytics business, offering best-in-class, high-value healthcare analytics, data and insights products and services to the world’s leading pharmaceutical, biotech and medical technology companies, enabling them to make informed business decisions.
PEL’s Healthcare Insights & Analytics business has expanded to meet the growing needs among life sciences companies. The business helps clients better assess market opportunities, quantify the value of their products, target niche patients and medical specialist segments, and identify unmet customer needs. It has a global team of industry experts and data scientists, including world-class epidemiologists, engineers, industry-leading healthcare market forecasters and predictive modelers, among others.
PEL provides business information services in the life sciences, healthcare provider and payer industries, competing in an addressable market in excess of $16 Billion across various solution areas, which is expected to reach $24.7 Billion by 2021. Healthcare businesses increasingly need up-to-date and easily-accessible solutions leveraging complex data sets and advanced analytics and therefore, there is increased demand for high-quality analytics and decision support tools and services.
CEO, Healthcare Insights & Analytics
PEL has several milestones to its credit, which are highly valued by its clients:
Long-Term Revenue Visibility
Comprehensive Product Suite
PEL Analytics Helping in Successful Product Launches
PEL’s Healthcare Insights & Analytics business is undergoing a transformation and aims to drive revenue growth through technology-based offerings and delivering end-to-end solutions that directly address high-value client problems. This best-in-class client support earned PEL the 2018 Best Partner Award in Market Access and Reimbursement – TGAS Vendor Insights.
During the year, PEL undertook several steps to strengthen its offerings:
In FY2019, PEL undertook a broad cost-reduction initiative to streamline operating processes, flatten organisational structure, and prioritise resources and investments on increasing client engagement, improving client satisfaction and driving innovation.
For FY2019, revenue from Healthcare Insights & Analytics business stood at `1,332 Crores, up 10% y-o-y from `1,209 Crores in FY2018. Revenue growth was primarily driven by strong growth in Life Sciences Data & Analytics and Consulting Services.
Over the past few years, PEL’s Healthcare Insights & Analytics business has undergone a transformation from a syndicated market research company into a data- and technology-enabled insights firm. This transformation has helped accelerate business growth and expand product and services offerings in response to client needs. As the Company continues on this path, it is focusing on the strategic priorities defined below.
A unified commercial team offering one of the most diverse proprietary, integrated data sets in the industry
Creation of syndicated products, based on bespoke analytics and consulting services and best-in-class oncology offering
Ongoing expansion of the business’s Bengaluru and Gurugram offices and a focus on 'Build Once, Sell Many' products to enable margin improvement
Combining data assets in the process of development and enhancement of products
Strong relationships with customers resulting in high client retention