Discover Strategies and Opportunities for Life Science Businesses in the U.S.
Watch our insightful video to explore the evolving landscape of health tech, biotechnology, and life sciences in the U.S.
Understand the market dynamics and opportunities in areas like medical devices, AI diagnostics, and telehealth.
Key Insights from the Video
- Blurring lines between health tech, medical devices, and life sciences.
- Emerging sectors in healthcare: prevention, diagnosis, treatment, research.
- Navigating the U.S. market: insurance market and providers.
- Strategies for European companies entering the U.S. market.
- Role of venture capital in scaling businesses.
- Geographical shift in life sciences towards the U.S. heartland.
- Identifying the right buyer in the U.S. market.
- The growing importance of tech hubs in Net Zero, sustainability, and smart manufacturing.
Why This Insight Matters to Your Business
Embrace this strategic toolkit for navigating the dynamic U.S. health tech and life sciences industry:
- Discover Industry Convergence: Explore the merging of medical devices, health tech, and life sciences, and understand their significance in shaping the U.S. healthcare market.
- Explore Key Healthcare Sectors: Delve into burgeoning areas like prevention, AI-driven diagnosis, telehealth, and more. Learn how these sectors are revolutionizing healthcare.
- Master the U.S. Market: Gain deep insights into the complexities of the U.S. market, focusing on insurance markets, healthcare providers, and regulatory aspects crucial for effective market entry and cost control.
- Adapt Strategies for U.S. Expansion: Benefit from the learnings of European companies in the U.S. market, and understand how to leverage venture capital for scalability and growth.
- Capitalize on Geographical Shifts: Discover new opportunities in the U.S. heartland, driven by quality of life, academic excellence, and economic incentives.
- Identify Your Buyer: Learn the importance of pinpointing the right buyer in the U.S. market, a key to successful market penetration.
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Mark Stimpfig, GTM Global: I’d like to ask Mindy to come back and give us a bit more of a commercial overview of the US in terms of these commercial opportunities. Mindy?
Mindy Daeschner, GTM Global: Yes, no problem. Thanks, Mark. I’ll keep this short and sweet. Over the last five to ten years, we’ve seen a blurring of lines between what constitutes a medical device, health tech, and life sciences. This is crucial, especially in setting up hubs and navigating access to both funding and markets.
In healthcare, we’re witnessing a growth in prevention, focusing on wellness, nutrition, and lifestyle. Diagnostics, spurred by events like COVID, are evolving with AI. Treatment involves infrastructure and traditional facilities, but Telehealth is gaining paramount importance. The research domain, especially with genomics, bio, and AI, is also undergoing significant changes.
Health hubs in the US are specialising in unique areas, which adds an interesting dynamic. One key question often raised is, who benefits from your solution? In the US, insurance plays a massive role, always aiming to reduce claims. Understanding and tapping into both insurance and provider channels are crucial for success. Many European companies overlook the insurance channel, a significant funder of care and provision in the US.
Funding is a critical aspect, and post-COVID, we’ve observed increased VC activity in large hospitals and insurers. When scaling from Europe to the US, acknowledging the role of insurance as a major funder is vital, especially for VC-backed ventures.
The changing landscape is also evident in the rise of health hubs, strategically located around academic excellence and economic development zones. Traditional top 10 places in health and life sciences are shifting, with emerging tech hubs driving growth in the heartland. States like Kansas and Missouri are becoming unexpected tech hubs due to their appeal as great places to live, excellent universities, and a hunger for innovation.
In conclusion, it’s crucial to carefully consider the buyer of your solution. The buyer may differ between Europe and the US, especially when it comes to controlling costs.
Mark Stimpfig, GTM Global: Mindy, that’s great insight, particularly your focus on life sciences. However, other tech hubs like Net Zero, sustainability, and smart manufacturing are gaining prominence, and they’re dispersed more regionally. Thank you for that powerful summary of the commercial aspects.