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Together with Forrester Research, Cipher commissioned a study in March 2021 exploring how life science companies and third-party market and competitive intelligence (M/CI) vendors can best work together.

The research was conducted with over 200 M/CI decision-makers working at global life science organizations across North America and Europe. Participants came from all areas of the life sciences industry, including the pharmaceutical, biotechnology, and medical device spaces, in addition to contract research organizations.

In the infographic below, we’ll explore the benefits these professionals in life science companies realized once they were using a marketing and competitive intelligence platform.

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Benefits Medical Device Manufacturers Realized When Using a M/CI Platform

According to our study, here is a breakdown of the benefits discovered from M/CI platforms:

  • 61% Better ability to manage 3rd party vendor progress
  • 57% Said they had greater visibility into the insights across the organization
  • 52% Saw an overall improvement in 3rd party vendor management

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Realized or Expected Benefits of M/CI Tools

  • 61% Saw better data quality
  • 57% Believe the company has greater visibility into insights
  • 52% Their M/CI tool improved their ability to manage 3rd party vendors
  • 48% Realized or expect a M/CI tool to improve stakeholder support
  • 47% Saw an increase in productivity due to automation of low-value work
  • 45% Receive more timely insights

Dive deeper into the data

Want to learn more about the benefits of using a M/CI platform? Or maybe you're interested in other trends and disruptions we uncovered from our study? You can now download the full report to get all the details!

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