Market Research

We specialize in research focused on market sizing, segmentation analysis, and understanding end-user needs and preferences. See below for examples of past projects BALSA has completed. 

Market entry analysis for a molecular diagnostics platform company

Our team evaluated three potential target markets for a novel molecular diagnostic technology by interviewing over a dozen medical professionals, understanding potential customers, and profiling competitors. The technology was compared to the gold standard and recommendations to the client included pricing considerations, a determination of end-user conversion, and evaluation of the marketability of proposed major functions of the diagnostic tool. Our recommendations were incorporated into the client’s business plan, helped to inform their marketing plan, and focused their technology development on its core components.

Market entry strategy for healthcare software startup

BALSA consultants performed target market assessment and market segmentation analysis for a new Electronic Medical Records platform. Our team identified important market trends, which were confirmed by interviewing experts in the field. The analysis pinpointed key system features and informed potential innovations. Our recommendations included a market entry strategy aligned with the current reimbursement landscape and focused software development on the most relevant market segments.

End-user segment analysis for gene synthesis technology

Our team determined the market size and need for a novel gene synthesis technology by conducting primary market research.  More than 600 electronic survey responses were collected with half of responses coming from principal investigators, the key decision-makers in academic research settings. Our analysis concentrated on market segmentation, taking into account region, experience level, field of study, and technical requirements. The recommendations included market entry strategies allowing the client to capture multiple market segments and to develop key partnerships with academic researchers.