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Leading Indicators in Life Science IT Spending Survey - 1Q06


Publication Date   March 2006
Publisher   Life Science Insights
Product Type   Strategic Report
Pages   21
ISBN Number   not applicable
Product Code   LSI018
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Price £2,580.00

approximately: $5,110 | €3,279

Summary


This study provides guidance on life science IT spending trends based on a detailed evaluation of survey results. This research further evaluates how spending sentiment and behavior differs by various industry subsegments based on company size (1,000 or more employees and fewer than 1,000 employees), organization type (pharmaceutical, biotech, government, academia/research hospital, and CRO/CMO), and functional area (basic research, preclinical drug development, clinical trials, manufacturing/distribution, and sales and marketing).

Leading Indicators in Life Science IT Spending Survey is a quarterly research effort that probes end-user opinions throughout the life science value chain on planned IT spending, technology adoption attitudes, perspectives on leading vendors, and other IT-related topics. This data was gathered via a Web-based survey, which yielded 183 participants, 58% of whom were manager level or above within their respective organizations.

Eric Newmark, a senior research analyst at Health Industry Insights, stated, "This quarter's results illustrate an encouraging turn in industry outlook and confidence surrounding business prospects for 2006. Last quarter, an alarming 67% of respondents stated they believed business prospects six months out would be negative. This pessimistic sentiment was in part due to industry woes regarding Merck's plant closings, its legal battles surrounding Vioxx, and uncertainty concerning what types of ripple effects those events would have on the industry. Merck's difficulties have since become less concerning, the economy has become more stable, and industry leaders are now seeing greener pastures ahead."

Content


In This Study

Methodology
Weighting Methodology
Organizational Demographics
Table: Respondents by Type of Organization
Table: Respondents by Company Revenue, 2004
Respondent Demographics
Table: Respondents by Functional Area
Table: Respondents by Level of Responsibility
Executive Summary

Situation Overview

Introduction
Figure: Reasons for Expected Functional Area Budget Increase, 1Q05, 3Q05, and 1Q06
IT Budget Focus: Hardware, Software, and Services
Survey Findings
Compliance and IT Spending
Figure: Expected Change in Organizational IT Budget over the Next 12 Months by Segment
Figure: Compliance Drivers of IT Spending
IT Spending by Type of Technology
Figure: First and Second Budget Priorities by Core IT Spending Segment
Favored Vendors for Overall IT Spending
RFID in Life Sciences
Figure: Vendors Planned for IT Spending over the Next Six Months by Segment
Figure: Current Involvement with RFID
RFID in Research/Drug Development
Figure: RFID Application Areas Within R&D
RFID in Clinical Trials
Figure: RFID Benefit Expectations Within Clinical Trials
RFID in Supply Chain Management
Figure: RFID Confidence Expectations Within Supply Chain
Figure: Time Expectations Surrounding RFID Tagging by Packaging Level
RFID in Sales and Marketing

Future Outlook


Essential Guidance


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Synopsis