Technology markets are changing fast. This brief is essential reading for you to identify the key forces shaping the prospects for your business. In this piece, the analyst specializing in pharmaceutical technology will outline the changes in your market, explain which trends will have the biggest impact and highlight who will benefit from the developments in pharmaceutical technology.

• An overview of the challenges facing the life science industry in 2009
• Datamonitor's take on the technology priorities of pharmaceutical and biotechnology companies
• Strategies to help technology vendors penetrate the life science industry

To thrive and survive turbulent times, a top priority of pharmaceutical and biotechnology companies will be to continue to streamline operations, particularly back-end, non-research activities, to reduce costs and time-to-market.

Biotechnology methodologies will play a key role in the development of breakthrough drugs and shaping the future of the life science industry as the popularity of personalized medicine grows and drug development becomes increasingly focused on niche patient populations based on their biological makeup.

Pharma companies will need to leverage advanced IT tools as the global sales & marketing landscape dramatically changes to encompass a broader array of stakeholders and markets.

• Learn about the top trends in the life science industry in 2009
• Tailor your go-to-market strategy to address critical issues facing pharmaceutical and biotechnology companies
• Identify strategies for expanding business opportunities in the life science industry

TABLE OF CONTENTS

CATALYST
1
SUMMARY
1
ANALYSIS
2
Thriving in turbulent times requires streamlining operations
3
Restructuring and layoffs remain core tactics to streamline operations
4
Innovative sales and marketing strategies are necessary for companies to survive
5
Outsourcing will become more mainstream as companies become leaner
6
Biotech and biomedical research will play a key role in shaping the future of the industry
6
Joint ventures and mergers and acquisitions between pharma and biotech will continue well into 2009
7
Stem cell and biomedical research will flourish under Barack Obama's new administration
7
Uncertainty looms for small biotech companies amidst the current financial crisis
8
Pharma companies turn to the emerging markets to remain competitive on a global scale
8
Generic drugs secure India and China's dominance in the global pharmaceutical market
9
ACTIONS
10
Impact on the life science industry
10
Improving R&D and increasing innovation are of the utmost importance
10
Pharma companies must embrace biotechnology to survive during these turbulent times
10
A change in pharmaceutical sales and marketing strategies must take place to target all stakeholders
11
Recommendations for technology vendors serving the life science industry
11
IT solutions must optimize life science business processes
11
Vendors need to be flexible to cater to the life science industry in the emerging markets
12
IT vendors must educate companies on the benefits of pharma-specific commercial IT solutions
13
APPENDIX
14
Definitions and Abbreviations
14
Methodology
14
Further reading
14
Ask the analyst
15
Datamonitor consulting
15
Disclaimer
15
List of Figures
 
Figure 1: The pharmaceutical industry faces many challenges and has a long, difficult road ahead
2
Figure 2: The long and costly drug discovery and development process
4
Figure 3: Pharma companies continue to announce big layoffs, but now the mid-market enters the game
5
Figure 4: Adoption level of SCM solutions in China and India
9
Figure 5: IT budget allocation for R&D and non-R&D processes in China and India
13