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


Report 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.
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