2010 Guide To The Life Sciences Industry For Technology Providers - Market Research Reports On Aarks

Introduction

Introduction

As drug sales drop and pressures to fill the product pipelines rise, executives are becoming more open-minded about the use of IT solutions. However, without the proper industry background, it can be difficult for technology vendors to enter this conservative market. This brief provides an overview of the life sciences industry in order for vendors to understand how to enter this market.

Scope

*Offers an overview of the pharmaceutical and biotechnology sectors

*Discusses key areas where there is greatest need for technology in the life sciences industry

*Provides go-to-market strategies to help enter the pharma and biotech markets and be successful

Highlights

The life sciences industry has been experiencing slower growth in recent years, a trend that will continue if changes are not made to the cherished blockbuster model. A fundamental step in transitioning from this model is to adopt technologies that will aid in streamlining processes throughout the drug lifecycle and increasing R&D productivity.

As pressures grow to fill their dwindling product pipelines with innovative drugs, pharma companies are embracing biotechnology, biomedical research and the concept of personalized medicine. This has led to a greater demand for innovative developments from the IT sector to provide the biotech industry with the tools it requires.

The industry is known to be conservative and skeptical of commercial technologies. Historically companies built their own solutions, resulting in legacy systems that are difficult to maintain and integrate with new systems. Executives are beginning to understand the benefits of pharma-specific solutions, but need time, education and convincing.

Reasons to Purchase

*Understand the pharmaceutical and biotechnology product lifecycle and business processes

*Identify emerging areas of concern for pharmaceutical and biotechnology companies

*Gain insight into what solutions and services will appeal most to life sciences companies

Table of Contents :

"SUMMARY 2

Impact 2

Ovum view 2

Key Messages 2

THE LIFE SCIENCES INDUSTRY IS IN TRANSITION 3

A quick glance at the life sciences industry 3

Understanding the industry means understanding the pharma product lifecycle 4

Regulations define the life sciences industry 6

Dwindling product pipelines keep executives up at night 6

A NEW BUSINESS MODEL EMERGES AS EXECUTIVES MOVE FORWARD 8

To cut costs, steamlining operations is a necessity 8

External partnerships are on the rise 9

Success relies on a sound emerging markets strategy 10

Life sciences continue to outsource to the emerging markets 10

TECHNOLOGY IS FUNDAMENTAL TO THE INDUSTRY'S SUCCESSFUL TRANSFORMATION 11

Early go/no-go decisions require a globally integrated data management 11

in silico methods help researchers make decisions early in the product lifecycle 13

Paperless clinical trials save companies millions 14

Drug manufacturing must be supply-driven rather than demand-driven 16

The complex pharma supply chain involves many stakeholders 16

Globalization adds more complexity to supply chain management 17

New sales and marketing models focus on engaging with all stakeholders 18

Social media has a promising future with the life sciences industry 20

RECOMMENDATIONS 21

Understand and know the life sciences industry 21

Educate life sciences companies on the benefits of pharma-specific commercial IT solutions 21

Show potential clients ROI studies and cost savings 22

Focus on technology solutions that enable the shift towards personalized medicine 22

Cater to the end users, not just the executives or IT department 22

Target the emerging markets in order to see rapid growth 23

APPENDIX 24

Definitions 24

Further Reading 25

Methodology 25

Ovum Consulting 26

Disclaimer 26

List of Tables

Table 1: Pharmaceutical and biotechnology industry sub-segments 4

List of Figures

Figure 1: The drug discovery and development process 5

Figure 2: Top priorities of the life sciences executive 7

Figure 3: Siloed R&D departments and IT systems restrict data management 12

Figure 4: To streamline the clinical trial data capture process, EDC is a must 15

Figure 5: An in-depth look at the clinical trials process 15

Figure 6: The drug supply chain can become complex fast 17

Figure 7: The sales and marketing strategy involves leveraging multiple channels 20

For more information please visit :

http://www.aarkstore.com/reports/2010-Guide-to-the-Life-Sciences-Industry-for-Technology-Providers-45168.html

by: Aarkstore Enterprise

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