U.S. Life Science 2008 Top 10 Predictions

Publication Date	January 2008
Publisher	IDC
Product Type	Report
Pages	15
ISBN Number	not applicable
Product Code	IDC03699

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Summary

This Health Industry Insights report identifies the major trends in 2008 that will impact the life science ecosystem, transforming business and technology. The overarching themes for our predictions have expanded from 2007 to include the need for improved organizational effectiveness and increasing globalization. Data integration and interoperability continue to force major changes in IT spending. Driving these imperatives will be a sharpened industry focus on cost containment, process improvements, and improved patient outcomes.

"With the life science industry poised for significant change, the major industry stakeholders are taking both near-term pragmatic and long-term opportunistic steps to better position themselves for the future. The challenges are great with numerous potential pitfalls both recognized and new. However, failure has never been an option for this consistently growing and highly profitable industry, and successful paths will be found,"according to Scott Lundstrom, vice president of research, Health Industry Insights.

Content

Predictions
In This Report
Situation Overview
Table: Select Blockbuster Drug Patent Protection Expiration Date and 2006 U.S. Revenue
Future Outlook
- Prediction #1: The Use of Business Intelligence/Analytics Tools to More Efficiently Manage the Life Science Industry Will Increase Rapidly
  - BI Will Begin to Permeate Pharma Discovery to Enable Management to Quantify Incremental Progress and Increase Information Transparency Across the Organization
  - Clinical Development Will Finally Realize the Value of BI Tools
  - Pharmaceutical Sales Look for a Boost from BI Tools
- Prediction #2: Outsourcing Becomes Instrumental to Long-Term Company Success as Industry Focus on Cost Reduction Continues to Increase
  - 2008 Will See Significant Investment and Growth in Global R&D by Major Pharma Seeking Low-Cost and Emerging Market Solutions
  - Clinical Development Will Continue to Struggle with Outsourcing Strategies
  - IT Outsourcing in Pharma Manufacturing Continues Its Climb
- Prediction #3: Drug Safety Will Remain Front and Center as a Primary Concern in 2008
  - Clinical Safety Management Will Dominate the Discussion in 2008
  - Public Perception of Drug Safety Will Continue to Slow the Development and Approval of New Drugs
- Prediction #4: Revenue Leakage Will Find Its Way onto the Radar Screen at Most Pharmaceutical Companies and Will Become a Strategic Component of Cost-Cutting Strategies
- Prediction #5: Spending on Commercial Software and Integration Services Will Overtake Homegrown and Custom Software Development Efforts
- Prediction #6: Investment in SFA Applications Will Increase as Companies Upgrade, Enhance, and Rip and Replace Outdated IT Solutions with Next-Generation Applications to Improve Sales Force Efficiency and Effectiveness
- Prediction #7: Progress in Genetic Discovery Will Accelerate the Development of Profiling Diagnostics and Targeted Therapeutics
- Prediction #8: Knowledge-Based Processes Will Continue to Grow, Based on the Need to More Effectively Use Rapidly Growing Available Data
- Prediction #9: Clinical Data Becomes Increasingly Commoditized in 2008
- Prediction #10: Operational Issues Surrounding the Use of Biomarkers Will Limit Utility
Essential Guidance
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- Related Research
- Synopsis