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Life Sciences Industry IT Spending Forecast in the US through 2014
Datamonitor, Feb 2010, Pages: 22
As pharmaceutical and biotechnology companies increasingly turn to IT to reduce costs and the time-to-market of a drug, it is important for technology vendors to understand where growth opportunities exist in the global life science market. This Databook provides a forecast and analysis of IT spending in the pharma/biotech industries through to 2014.
Scope
- Forecast of IT spending within the the US pharmaceutical and biotechnology markets by sector, and IT segments (hardware, software, services)
- Sectors covered are Big Pharma, Mid Pharma, Big Biotech, and Small Pharma & Biotech
Highlights of this title
Although the current economic climate and credit crunch has halted major IT projects for a couple of years, technology investments will continue to grow on a worldwide basis over the next five years, particularly in the biotechnology sector which is becoming a core area of research for future drugs.
Big Pharma will spend the highest amount of money on IT as they are turning to technology solutions to increase efficiencies within the drug lifecycle, reduce costs, and bring the drug to market faster, but the overall CAGR will be the lowest of the four sectors.
Once companies have the appropriate hardware technologies in place, they will begin to spend a larger portion of their budget on software and services.
Key reasons to purchase this title
- Understand the opportunity size for technology spending in the life sciences industry
- Identify potential areas for spending growth amongst pharmaceutical and biotechnology companies
- Segment the life science industry by spending opportunities
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