Analytics & Infrastructure Services in High Demand as Life Sciences Firms Seek Leverage in Challenging Market
DALLAS, JULY 9, 2014 — The data-rich life sciences industry—plagued with multi-faceted challenges such as stifled R&D efficiency, a changing portfolio mix, and a rise in merger, acquisition and restructuring activity—is increasingly looking to analytics and technology initiatives to provide competitive leverage. Accordingly, 2013 saw a 35 percent growth in information technology outsourcing (ITO) among pharmaceutical, medical device and biotechnology firms.
These findings and more are discussed in a new Everest Group report, IT Outsourcing (ITO) in the Life Sciences Industry – Annual Report 2014: Analytics Driving the Innovation Engine.
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In addition, a free Everest Group webinar on “What’s Driving the Surge in Life Sciences IT Outsourcing?” is available for viewing on demand.
“Analytics has entrenched itself as a key lever to provide real-time, actionable insights and improve operational efficiency,” said Jimit Arora, vice president at Everest Group. “Analytics will be a primary tool for life sciences firms driving key strategic initiatives, particularly with respect to cost reduction, top-line growth, and risk and compliance management.”
High-resolution graphics illustrating the report’s key takeaways can be included in news coverage, with attribution to Everest Group. Graphics include:
- Twelve percent CAGR anticipated in healthcare ITO market 2013-20
- Increasing demand for infrastructure services expected in healthcare IT outsourcing
- Analytics present triple value in healthcare ITO
- New demands are driving changes in location maturity for life sciences ITO