IDC Launches Company-Wide Initiative Focused on IT Opportunities in Life Sciences
FRAMINGHAM, MA – MARCH 11, 2002 – Global IT market intelligence and advisory firm IDC today announced a company-wide initiative to address technology infrastructure issues and opportunities in the emerging global life-sciences sector. IDC’s Bio-IT initiative will provide end users and IT vendors with ongoing analysis of market dynamics, forecasts, user requirements, and projections essential to shaping effective business strategies. Debra S. Goldfarb, group vice president, Worldwide Systems and Life Sciences research, will lead the initiative.
According to IDC, the Bio-IT market – the market where information technology converges with life sciences – will expand at a compound annual growth rate (CAGR) of 24%, reaching nearly $38 billion globally by 2006. "We are embarking on a scientific and technological revolution in life sciences that could match the transportation, mass manufacturing, electronics, and computer revolutions of the previous century," Goldfarb said. "The life-science era will spawn new industries, new types of products and services, and dramatic incremental growth in the IT markets that support these applications."
IDC’s Bio-IT initiative will comprise:
A new research subscription and advisory service titled Bio-IT Infrastructure
Custom research and consulting services in such areas as brand positioning, product channel and alliance strategy, and best practice implementation
An industry workgroup for end users and technology infrastructure vendors operating in the life-sciences industry
Commenting on the initiative, IDC president and CEO, Kirk Campbell, said "The launch of IDC’s Bio-IT initiative is a direct response to our research findings and feedback from leaders in the field that their work is becoming increasingly dependent on information technology. We are committed to providing them with knowledge to define how IT will play in the sector over the long term, and support in defining and implementing the strategies providers should follow as IT revolutionizes life-sciences processes. IDC’s 38-year history of predicting and analyzing new IT markets will serve us well in delivering timely, relevant insight and analysis on the emerging life-sciences industry."
The Bio-IT Infrastructure research and advisory service will provide insight and guidance in key IT infrastructure areas, such as:
Servers used to support a wide range of workloads, including computational, database, and security
All storage devices
A broad set of software technologies and products, including databases, Web services, middleware, analytics, and security
Services to support or enhance the overall IT infrastructure
Clients, including workstations, PCs, personal workstations, and thin clients
Standard networking equipment
IDC Research: Highlights of IDC research reports are available to members of the press.
IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world’s leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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