Balan Biomedical Provides Insight to Inform Business Decisions
Long story short, Balan provides clarity. We help you strip away obscuring layers of common, predictable and often unhelpful data and uncover the information critical to the core of the matter you want to focus on. Balan is not interested in selling you a bundle of stock services. We want to bring our clinical and engineering skills to bear on the topics and projects that mean the most to your success. Helping you achieve your goals is achieving ours.
Directed Innovation at Work
Innovation more often is an ideal than a reality as a product or device evolves slowly over time. Once in a while great leaps are made. Our Directed Innovation method allows you to approach new concept identification and validation in a robust and systematic fashion letting you innovate, not iterate. Medical device and consumer health product companies, technology partners and investors are all benefiting from Balan’s interactive process.
Balan doesn’t bundle our expertise into careful little boxes with catchy names. Gaining insight into thorny medical device and consumer product life cycle issues cannot be resolved by ordering services from a menu like your favorite take-out food. In discussions with our clients we strive to understand what question or unmet need you’re interested in. We develop a guiding conceptual framework and then deploy, on your behalf, our wide array of research and analytic services to get you an answer or find solutions for your evaluation. Along the way we often bring to light other insightful data and options you may not have previously considered. That’s one of the valuable perks you get from using Balan, not only do you get the answers you need but also you gain an intelligent ally. Like any good ally we have your best interests in mind and enjoy bringing research, materials or techniques we think you’d want to know about to your attention. We find creative solutions to your non-routine problems.
Balan identifies a $billion line extension opportunity for a client.
The best way to reach your destination quickly and with limited risk is to know the terrain. We research into data sources, compiling a 360 degree view, to provide the detail needed to flesh out the topography of your destination. In the process we often uncover hidden information identifying previously unknown risks or opportunities. Armed with this information the decision making time of your skilled professionals is greatly enhanced.
Our client wanted to identify entirely new markets for its existing medical product line. Balan began the process by mapping all product features against existing markets and used this map to identify untapped market opportunities. Once these opportunities were defined, Balan validated and tested market readiness by querying its network of medical professionals. The professionals were asked about unmet market needs, awareness of existing product solutions, readiness for cross-market application and willingness to use and recommend the cross-marketed product solutions. The response from the Medical Professional Network was extremely positive. This information, together with specific recommendations for best ways to approach the new market from the perspective of the medical professionals most involved with product selection and use was provided to our client. As a result, a potential new market of $21 billion in annual sales was identified. Balan is now assisting our client in exploring business models to capture the full potential of this opportunity.