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Worldwide Contract Research Organization IT Spending 2004-2008 ForecastPublished by: IDC Published: Nov. 1, 2004 - 11 Pages Table of ContentsTable of Contents IDC Opinion In This Study Methodology Forecast Segmentation Definitions Situation Overview Table: Examples of Encouraging Contract Research Organization Operating Results in 2004 Figure: Worldwide Contract Research Organization IT Budget Spent on Regulatory Compliance Issues, 2004 Future Outlook Forecast and Assumptions Table: Worldwide Contract Research Organization IT Spending by Region, 2003-2008 ($M) Table: Key Forecast Assumptions for the Worldwide Contract Research Organization IT Spending Market, 2004-2008 Worldwide CRO IT Spending by Category Table: Worldwide Contract Research Organization IT Spending by Category, 2003-2008 ($M) Software Spending Focuses on Upgrades and Standardization Services Spending Centers on Outsourcing to Reduce Costs Hardware Spending Driven by Storage and Data Management Needs Essential Guidance Learn More Related Research Synopsis AbstractThis Life Science Insights study presents a five-year forecast for worldwide spending on IT for the contract research organization (CRO) industry, a subsegment of the life science industry. The goals for this study are to provide predictions and assumptions relating to market forces impacting CRO spending on IT. "Corporate profits for CROs are on the rise, and we expect CRO spending on information technology to increase in the near term. However, CROs are still conservative about where to make their investments," said Ellen Julian, research director for Life Science Insights, an IDC company. We expect CROs to take the following actions as they examine their strategies for future growth: Invest in IT outsourcing services to improve cost and performance metrics. Invest in clinical trials management to enable communication to sponsors of up-to-date information on trial progress at each site, enrollment, and interim data results crucial to maintaining good relationships with clinical trial sponsors. Increase spending on robust storage and data management solutions to facilitate electronic regulatory submissions and maintain archives.This study provides the following: An overview of how recent trends in the pharmaceutical and contract research markets are impacting CRO spending on IT Life Science Insights' forecast for worldwide CRO IT spending, broken down by geography Assumptions relating to economic growth factors and IT investment relating to hardware, software, and IT servicesGet Full Details About This Report >> |
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