Introduction
Technology markets are changing fast. This brief is essential reading for you to identify the key forces shaping the prospects for your business. In this piece, Datamonitor’s analyst specializing in pharmaceutical technology will outline the changes in your market, explain which trends will have the biggest impact and highlight who will benefit from the developments in pharmaceutical technology.
Scope
*An overview of the challenges facing the life science industry in 2009
*Datamonitor’s take on the technology priorities of pharmaceutical and biotechnology companies
*Strategies to help technology vendors penetrate the life science industry
Highlights
To thrive and survive turbulent times, a top priority of pharmaceutical and biotechnology companies will be to continue to streamline operations, particularly back-end, non-research activities, to reduce costs and time-to-market.
Biotechnology methodologies will play a key role in the development of breakthrough drugs and shaping the future of the life science industry as the popularity of personalized medicine grows and drug development becomes increasingly focused on niche patient populations based on their biological makeup.
Pharma companies will need to leverage advanced IT tools as the global sales & marketing landscape dramatically changes to encompass a broader array of stakeholders and markets.
Reasons to Purchase
*Learn about the top trends in the life science industry in 2009
*Tailor your go-to-market strategy to address critical issues facing pharmaceutical and biotechnology companies
*Identify strategies for expanding business opportunities in the life science industry
DATAMONITOR VIEW 1
CATALYST 1
SUMMARY 1
ANALYSIS 2
Thriving in turbulent times requires streamlining operations 3
Restructuring and layoffs remain core tactics to streamline operations 4
Innovative sales and marketing strategies are necessary for companies to survive 5
Outsourcing will become more mainstream as companies become leaner 6
Biotech and biomedical research will play a key role in shaping the future of the industry 6
Joint ventures and mergers and acquisitions between pharma and biotech will continue well into 2009 7
Stem cell and biomedical research will flourish under Barack Obama’s new administration 7
Uncertainty looms for small biotech companies amidst the current financial crisis 8
Pharma companies turn to the emerging markets to remain competitive on a global scale 8
Generic drugs secure India and China’s dominance in the global pharmaceutical market 9
ACTIONS 10
Impact on the life science industry 10
Improving R&D and increasing innovation are of the utmost importance 10
Pharma companies must embrace biotechnology to survive during these turbulent times 10
A change in pharmaceutical sales and marketing strategies must take place to target all stakeholders 11
Recommendations for technology vendors serving the life science industry 11
IT solutions must optimize life science business processes 11
Vendors need to be flexible to cater to the life science industry in the emerging markets 12
IT vendors must educate companies on the benefits of pharma-specific commercial IT solutions 13
APPENDIX 14
Definitions and Abbreviations 14
Methodology 14
Further reading 14
Ask the analyst 15
Datamonitor consulting 15
Disclaimer 15
List of Figures
Figure 1: The pharmaceutical industry faces many challenges and has a long, difficult road ahead 2
Figure 2: The long and costly drug discovery and development process 4
Figure 3: Pharma companies continue to announce big layoffs, but now the mid-market enters the game 5
Figure 4: Adoption level of SCM solutions in China and India 9
Figure 5: IT budget allocation for R&D and non-R&D processes in China and India 13
Other selected research from the 'Markets' category:
Pharmaceuticals: Canada Industry Guide
The CNS Market Outlook to 2010