Powerful Lab IT Systems Needed to Handle Complexities of Biomanufacturing
NEW YORK, NY — (Marketwire) — 04/18/11 — The most important asset for drug companies is the data behind their products, according to healthcare market research publisher Kalorama Information, from the discovery stage all the way to market. The laboratory information system (LIS) is the tool that manages this critical data. Additionally, growth in biopharmaceuticals, which require more complex R&D processes that produce more data, will create demand for more complex data management, and Kalorama Information reports that specialized CROs that make investments in sophisticated LIS will have an advantage, driving sales of new systems.
Kalorama values the market for LIS in drug discovery at $570 million in 2010 in its report, “Laboratory Information Systems (LIS / LIMS) Markets.” And growth of LIS sales to drug discovery labs will continue around 3% to 4% annually.
“Laboratories must examine their LIS structure for the complex data processing and connectivity they will need,” says Bruce Carlson, publisher of Kalorama Information. “Drug company labs that are operating older legacy LIS will not have the flexibility and interconnectivity to compete in biopharmaceutical manufacturing.”
Biomanufacturing is the fastest growing segment of the world contract manufacturing sector, expanding at a compound annual rate of 12% between 2003 and 2007. According to Kalorama, last year it represented a $3.7 billion market and it should nearly double in the next six years. Biopharmaceuticals are estimated to represent 13% of all prescription drug sales in the US today.
“Companies with a long-term view are developing a next-generation of LIS that will meet the evolving needs of drug companies and CMOs of the future, with functionalities that even many of today’s systems cannot provide — in other words, there is opportunity for vendors who are flexible and innovative,” notes Carlson.
Kalorama Information’s “Laboratory Information Systems (LIS / LIMS) Markets” focuses on the market for LIS for clinical health care labs (software and hardware) and pharmaceutical drug discovery laboratories. It provides market size and forecast data, an analysis of suppliers competing in the LIMS market, an overview of the industry and important trends. It is available at: http://www.kaloramainformation.com/redirect.asp?progid=81418&productid=2713876.
About Kalorama Information
Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter (http://www.twitter.com/KaloramaInfo) and LinkedIn (http://www.linkedin.com/groups?gid=2177845&trk=hb_side_g).
