Convergence Will Become the Hallmark of the New Life Sciences IT Market Model.Business Editors/Health/Medical Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Sept. 22, 2003 With market attrition rates Noun 1. attrition rate - the rate of shrinkage in size or number rate of attrition rate - a magnitude or frequency relative to a time unit; "they traveled at a rate of 55 miles per hour"; "the rate of change was faster than expected" of close to 70 percent for startups, the commercial Life Sciences IT market will be characterized by rapid convergence and consolidation over the next decade. New analysis from Frost & Sullivan (http://www.frost.com), R&D Information Technology Markets for the U.S. Life Sciences Industry, reveals that this commercial industry generated revenues totaling $3.2 billion in 2002. Total market revenues are expected to reach approximately $5.1 billion annually in 2006. The emerging commensalist model of the industry is showing that smaller technology vendors and large multiverticals will need each other for sustained growth. It is becoming increasingly crucial for niche vendors to pursue partnerships that will allow them to be visible to key customers. Ones that cannot successfully transition to partnership channels may find themselves in financial jeopardy as the market becomes increasingly saturated with similar products. Reciprocally, it will become critical for large multiverticals to integrate themselves with best of breed niche technologies in order to build brand equity in the enterprise market. "Companies that are looking to gain a foothold in the growing R&D IT business for Life Sciences have realized that gaining partnerships through niche participants will be vital to new client acquisition," states Frost & Sullivan Industry Manager Amith Viswanathan. On the technology front, Life Sciences IT vendors have been investing heavily in Web-based technologies such as user authentication See authentication. , infrastructure, and integration to middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a . Improved security, dependability, and scalability features are expected to make this technology the linchpin linch·pin or lynch·pin n. 1. A locking pin inserted in the end of a shaft, as in an axle, to prevent a wheel from slipping off. 2. of market growth. If vendors can convince the market to go Web, Internet-based technologies Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. can provide the cost-effective network scalability that users need today. "If this happens, Web technology may explode into other sensitive R&D areas as well, which have historically been a bastion of privately integrated tools- and paper-based processes," remarks Viswanathan. From an overall perspective, integration will become the key buzzword A term that refers to the latest technology or a term that sounds catchy. If not a flash in the pan, new technologies become mainstream. For example, Java was a hot buzzword in the 1990s, but should remain a major topic for decades. of the day, as vendors must be able to work within the existing infrastructure of their customers' networks to provide value and cost-efficiency. Organizations that understand this concept will succeed in penetrating the industry. Frost & Sullivan will hold this conference call at 12:00 pm (CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT )/1:00 pm (EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT ) on Thursday, Sept. 25, 2003, which will provide industry participants an overview of the R&D Information Technology Markets for the U.S. Life Sciences Industry. To participate, please e-mail Danielle White Danielle Marie White (born February 2, 1992 in Cincinnati, Ohio) is an American singer who was raised in Bradenton, Florida. In 2003, White appeared on the reality television series American Juniors at dwhite@frost.com with the following information: Name, Company, Title, Telephone Number, and e-mail. Upon receipt of the above information, a confirmation/pass code will be e-mailed to you. R&D Information Technology Markets for the U.S. Life Sciences Industry is part of the Life Sciences Information Technologies subscription, which includes market insights on emerging end-user applications and infrastructure technologies for the pharmaceutical/biotech markets. Interviews are available to the press. Frost & Sullivan, an international growth consultancy, has been supporting clients' expansion for more than four decades. Our market expertise covers a broad spectrum of industries, while our portfolio of advisory competencies include custom strategic consulting, market intelligence and management training. Our mission is to forge partnerships with our clients' management teams to deliver market insights, and to create value and drive growth through innovative approaches. Frost & Sullivan's network of consultants, industry experts, corporate trainers A corporate trainer is a specialized skill development position in a corporation where the goal is to help improve the "soft skills" or "people skills" of the workers in the corporation. and support staff, spans the globe with offices in every major country around the world. R&D Information Technology Markets for the U.S. Life Sciences Industry Report: A579 |
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