LibGuides: Biomedical Technology Commercialization: Examples

American FactFinder

Note regarding the U.S. Census Bureau's American FactFinder tool mentioned below:

**American FactFinder ceased releasing new data in June 2019**

American FactFinder remained as an "archive" system for accessing historical data until March 31, 2020, when it was decommissioned and taken offline. Use data.census.gov to locate new data. The 2017 Economic Census data will be released on data.census.gov on a flow basis between September 2019 and December 2021.

Example 1: Gardasil

Technology: Gardasil vaccine (from Merck)

Industry sector represented: Biological Product (except Diagnostic) Manufacturing [NAICS 325414]

***Tip: use the Census Bureau's NAICS Lookup Tool if you are unsure of the industry sector***

What industry research can I find?

IBISWorld This link opens in a new window
Comprehensive U.S. industry reports and related content for 16 NAICS sectors, 700 NAICS industries and many specialized industries at the national level, state-level industry reports for states contributing most to the U.S. economy (includes reports for top-contributing industries in the state), and state economic profiles. Content includes interactive, searchable, and downloadable industry reports featuring industry performance and outlook, supply chains, product and market characteristics and segmentation, SWOT analysis, disruptive technology analysis, competitive landscape, major companies, operating conditions, and key statistics including industry financial ratios from RMA Annual Statement Studies, as well as condensed iExpert Summary Reports SWOT analyses and call preparation questions, Business Environment Profiles identifying key external factors determining industry performance, and Industry Insider section containing spotlight reports, featured articles, and more. Interactive data, charts, and tables are downloadable in various formats. Drexel subscribes to U.S. content only.
Keywords: company, five forces, industry, market research, state, SWOT

I search by the first five digits of the NAICS code (32541) or the keyword "Gardasil" and I find the following report:

Brand Name Pharmaceutical Manufacturing in the US - 32541a

The "Industry at a Glance" section of this report provides: industry revenue, industry profits, annual industry growth, market share for major companies in the industry, and an industry-level SWOT analysis.

Other report sections that may be useful: "Industry Performance," "Industry Outlook," "Operating Conditions," and "Key Statistics"

This IBISWorld report also helps me build my supply chain so I focus my market and industry analyses appropriately: the "About" section of the report features an interactive Supply Chain chart. This chart displays industry linkages:

Supply Industries: which industries this industry buys from
Demand Industries: which industries this industry sells to

IBISWorld's Supply Chain chart uses colors and symbols to indicate the level of risk of each linked industry:

red triangle = high risk
orange circle = something to keep an eye on
green check mark = low risk

Primary Customers for Gardasil: hospitals, urgent care centers, emergency & outpatient centers, physician offices, pharmacies, parents of patients

I can use IBISWorld to research many of these target markets to identify their size, annual growth, etc. Key sections of IBISWorld industry reports support Michael Porter's Five Forces model of industry analysis.

Secondary Customers: male and female patients in relevant age range (per the CDC, Gardasil vaccine may be administered beginning at age 9 through age 26), with some exceptions (those who are allergic to the vaccine or any components)

To identify the size of this secondary market, I can use this library resource to locate Census population counts and intercensal population estimates:

Statistical Abstract of the United States This link opens in a new window
Authoritative and comprehensive summary of statistics on the social, political, and economic conditions of the United States. Content includes more than 1,400 individually indexed tables (with attached spreadsheets) that are searchable and browsable. Includes the following editions: 2013 to present. For the 1878 to 2012 editions, visit the U.S. Census Bureau website.
Keywords: statistic, census

For example, see this table in the 2020 Edition:

Table 6: Resident Population By Sex and Age: 2000 To 2018

Competitors: Cervarix vaccine (from GlaxoSmithKline) {identified through Google search}

I can do a keyword search within IBISWorld's "Brand Name Pharmaceutical Manufacturing in the US" Industry Report (mentioned above) to identify whether it contains information about GlaxoSmithKline. It does...providing me with projected revenue for my competition.

To research the competition a bit more, I'll use:

Mergent Intellect This link opens in a new window
Data and information about active and inactive public and private U.S. and international companies, company and industry news, and more. In addition to profiles containing descriptive and financial details about active and inactive companies, Mergent Intellect features consumer data, Nielsen demographic and U.S. Census data, industry reports (U.S., Canada, global), and key business ratios. Includes D&B Million Dollar Database, Hoover's Online, and Mergent Key Business Ratios on the Web
Keywords: company, demographic, finance, industry, job

I'll use the Advanced Search tool in Mergent Intellect:

-Include International Companies
-Location Type: Headquarter
-Company Name: Merck OR Glaxo

Run the search, then select: Merck & Co., Inc. and GlaxoSmithKline PLC to view or download company information including recent financials

Also, notice the "Industry Details" tab in Merck's record in Mergent Intellect, which provides access to another report for my industry (NAICS 325414).

Business Source Complete This link opens in a new window

I'll use Business Source Complete to retrieve MarketLine Company Profile reports for GlaxoSmithKline Plc and Merck & Co., Inc.:
-navigate to the top menu bar, hover over "More" and click "Company Profiles"
-use the search box or alphabetical index to navigate to GlaxoSmithKline Plc and open a PDF of the MarketLine report. Follow the same process to access the MarketLine Company Profile report for Merck & Co., Inc.

For private companies, the following library database is excellent for company research:

PrivCo This link opens in a new window
To use this database, you must create a PrivCo account using your Drexel email address. Each user may download 150 records per month. Data and information about U.S. private companies and private investors plus larger funding deals and archived profiles for select private international companies. In addition to financials, funding rounds, valuations, and competitors for private companies, contains private investor profiles, and private equity, merger and acquisition, and venture capital funding deals.
Keywords: acquisition, company, equity, funding, investor, merger, private, venture capital

Census Bureau Resources

Now, I can go to the Census Bureau's Industry Statistics Portal and search for NAICS 325414 to discover Census Bureau statistics for this industry.

The resulting page tells me what types of statistics are available for this NAICS code and where to find the data.

Is the market growing?

Answer: Manufacturers' Shipments, Inventories, and Orders (M3)

Full Report Highlights: Excel Selection Menu--> Full - All Tables. Download the file.

Look at: Table 1: Value of Manufacturers' Shipments for Industry Groups

Nondurable Goods Industries --> Chemical Products --> Pharmaceuticals and Medicines

What are state-level sales figures for companies within this industry?

Answer: Economic Census

The following table provides the sales figures I need ["Total value of shipments and receipts for services, ($1,000)], taken from the 2012 Economic Census (Note: comparable data from the 2017 Economic Census is not yet available):

EC1231A1 Manufacturing: Geographic Area Series: Industry Statistics for the States, Metropolitan and Micropolitan Statistical Areas, Counties, and Places: 2012: NAICS Code 325414: Biological Product (except Diagnostic) Manufacturing

The table above also answers the question: What are the geographic concentrations for this market?

["Number of establishments" and "Establishments with 20 employees or more"]

What is the size of this market?

Answer: Economic Census

"The Economic Census is the U.S. Government's official five-year measure of American business and the economy. It is conducted by the U.S. Census Bureau, and response is required by law."

EC1731BASIC - Manufacturing: Summary Statistics for the U.S., States, and Selected Geographies: 2017 - NAICS Code 325414: Biological Product (except Diagnostic) Manufacturing

I can get more granular by downloading 2012 Economic Census: Industry and Primary Product Class Data via the Census Bureau's now-decommissioned "American FactFinder" tool (Note: comparable data from the 2017 Economic Census is not yet available on data.census.gov):

EC1231SG7 - Manufacturing: Summary Series: General Summary: Industry Statistics by Industry and Primary Product Class Specialization: 2012 Products and Services Code 3254144: Vaccines, toxoids, and antigens, excluding allergens, for human use (attached PDF file contains this table)

2012 Economic Census table EC1231SG7

Example 2: Health Game/App

Technology: specific app or game for health

Industry sector represented: Software Publishers [NAICS 511210] (this includes "Applications development and publishing, except on a custom basis" and "Games, computer software, publishing.")

***Tip: use the Census Bureau's NAICS Lookup Tool if you are unsure of the industry sector***

What industry research can I find?

IBISWorld This link opens in a new window
Search by 5-digit NAICS (51121)

I find the following report:

Software Publishing in the US - 51121

Navigate to the About section of the report and read the Industry Definition. Since this definition isn't an exact match with our technology, let's see what other industry reports we can find in IBISWorld:

-keyword search for "mobile app" yields this report: Smartphone App Developers in the US - OD5817 (This is an IBISWorld "Specialized Industry" report. IBISWorld develops Specialized Industry reports to cover small or new industries for which NAICS identifiers are often too broad.)

-keyword search for game yields these reports:

Video Game Software Publishing in the US - 51121e
Video Games Software Developers in the US - OD4570 (Specialized Industry report)

The "Industry at a Glance" section of these reports provide: industry revenue, profit margin, and annual industry growth.

Primary Customers: this will be based on the application of your technology. For example, the technology may be developed for for direct use by patients with a relevant health condition, in which case those patients will be the primary customers. The U.S. National Library of Medicine provides links to various sources of health and medical statistics.

Alternatively, some technologies may be developed to be used in conjunction with specific treatments or devices, in which case healthcare providers will be the primary customers. I can use IBISWorld to research many of these target markets to identify their size, annual growth, etc.

Secondary Customers: if the technology will be developed to be used in conjunction with specific treatments or devices, patients with a relevant health condition will be the secondary customers. As noted above, the U.S. National Library of Medicine provides links to various sources of health and medical statistics.

Competitors: publishers of similar apps/games

Once I've identified the names of my competitors, I'll use one of these library resources to locate more details about these companies:

Mergent Intellect This link opens in a new window
Data and information about active and inactive public and private U.S. and international companies, company and industry news, and more. In addition to profiles containing descriptive and financial details about active and inactive companies, Mergent Intellect features consumer data, Nielsen demographic and U.S. Census data, industry reports (U.S., Canada, global), and key business ratios. Includes D&B Million Dollar Database, Hoover's Online, and Mergent Key Business Ratios on the Web
Keywords: company, demographic, finance, industry, job
PrivCo This link opens in a new window
To use this database, you must create a PrivCo account using your Drexel email address. Each user may download 150 records per month. Data and information about U.S. private companies and private investors plus larger funding deals and archived profiles for select private international companies. In addition to financials, funding rounds, valuations, and competitors for private companies, contains private investor profiles, and private equity, merger and acquisition, and venture capital funding deals.
Keywords: acquisition, company, equity, funding, investor, merger, private, venture capital