Survey of C-Suite leaders highlights why life sciences commercial model requires an urgent shift SAN FRANCISCO , Aug. 6, 2024 /PRNewswire/ -- Grey Matter Marketing , the exclusive life sciences category design firm, today published The 2024 State of Life Sciences C-Suite Report , an industry report which uncovers a revenue reliability crisis that is impacting financial performance, market cap growth, company valuation, and innovation within the industry. Of concern, two-thirds of C-Suite executives surveyed reported that less than 60% of sales reps hit their quotas in the past three consecutive quarters, and only 17% of respondents cited 70% or greater of their reps met their quota in the same time period.
The report, based on a survey of C-Suite executives at life sciences companies across the U.S., reveals that unreliable revenue is a major concern, despite the estimated growth for the life sciences market at a robust CAGR of 11.
75% between 2023 and 2028. Reliable revenue ranked high on the list of top priorities for 2024 along with innovative pipeline production. Without reliable revenue, leaders find it challenging to make management and investment decisions—critical for funding future innovation.
The symbiotic relationship between these initiatives puts even more pressure on the C-Suite to develop reliable revenue. The life sciences landscape is undergoing significant changes, including regulatory shifts, value-based reimbursement models, and reduced physician access�.