IDC Launches New Subsidiary, Life Science Insights, to Enable Fact-Based Decision Making for the Life Science Industry
FRAMINGHAM, MA – FEBRUARY 3, 2004 – IDC today launched Life Science Insights, a new independent research and advisory practice focused on providing life science companies with market and technology intelligence, commentary and analysis, to help support business decisions. Life Science Insights will work with pharmaceutical and biotech companies, life science tools and technology vendors, IT vendors and consultant and professional services companies, and will provide market sizing and up to date market intelligence. These services will be provided by Life Science Insights’ analysts, each with specific technology and market expertise.
Life Science Insights was created to address the explosion of biological data that needs to be analyzed, managed, stored and transformed from the growing number of new opportunities in the fields of proteomics, systems biology and other emerging scientific areas, such as E-diaries and nanotechnology. These new science and technology endeavors are accelerating the field of bioinformatics or bio-IT and will play a pivotal role in the next wave of progress for biotechnology and pharmaceutical companies, diagnostic firms and clinical research organizations. Life Science Insights will provide research and analysis that enables these vendors and end users to optimize their business strategies and investments in markets and technologies.
In addition, IT vendors need to better comprehend the evolving requirements of life science companies. However, relatively few IT suppliers have implemented effective strategies for meeting the needs of the unique life science end user audience. To stay ahead of important issues and trends, they will need special knowledge of the biological and growing IT requirements to sell successfully to companies in the early stages of drug discovery and development.
“Biological complexity has raised the IT bar, and life science companies need to overcome the information hurdles to more quickly and effectively deliver the next wave of scientific achievements, and hence a new generation of therapeutics,” said Paul Gillyon, chief operating officer and managing director, Life Science Insights. “Our mission is to help our clients more intelligently comprehend their unique and evolving opportunities so they can make fact-based decisions and become more successful in the marketplace.”
IDC is the premier global market intelligence and advisory firm in the information technology and telecommunications industries with a strong reputation built on reliability of market sizing and forecasting and an excellent forward view of market developments.
Building on IDC’s 40-year track record, Life Science Insights will deliver research and advisory services to life science companies with the same high level of integrity, reliability and market insight.
Life Science Insights’ services include the following:
The Green Book – Market Sizing and Forecasts. The Green Book serves as a quantitative resource to assist in business planning. The Green Book provides detailed market sizing and forecast data on key life science technology markets.
Continuous Intelligence Services. These are subscription services, which provide regular market and technology intelligence covering important developments in life sciences and the implications for vendors and end users of technology. There are a range of CIS services, which either provide broad coverage of life science or are focused on specific fields including drug discovery and development, clinical trials, bio-IT, chem-IT and laboratory automation.
Leading Indicators and Benchmarking Studies. Life Science Insights carries out regular leading indicator and benchmarking studies to provide business decision makers with primary research gathered from carefully constructed panels of life science users in all fields. Examples include studies around budgeting intentions of users, adoption rates of key technologies, benchmarking of IT investments or key resource deployments and user perceptions of technologies or products.
Consulting and Custom Research. Clients that have unique needs can call on Life Science Insights consultancy team to create and deliver customized research projects. For each project, a team is assembled and works with clients to develop a clear brief and a project plan that most effectively addresses the needs of the client
About Life Science Insights, an IDC Company
Life Science Insights provides global market and technology intelligence to decision makers in the life science industry, including pharmaceutical and biotechnology companies, clinical research organizations, and medical diagnostic companies, as well as the technology vendors supplying solutions to the industry. With a dedicated team of analysts trained in the life sciences, Life Science Insights offers insight and advice on the latest industry trends and market developments. Founded in January 2004, Life Science Insights is headquartered in Framingham, Mass. Visit www.life-science-insights.com for more information.
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