News Column

Everest Group: IT Outsourcing in Life Sciences Industry Grows 35%

July 19, 2014

Everest Group reported that 2013 saw a 35 percent growth in information technology outsourcing (ITO) among pharmaceutical, medical device and biotechnology firms.

The group said that the data-rich life sciences industry-plagued with multi-faceted challenges such as stifled R&D efficiency, a changing portfolio mix, and a rise in merger, acquisition and restructuring activity-is increasingly looking to analytics and technology initiatives to provide competitive leverage.

The group noted that these findings and more are discussed in a new Everest Group report, IT Outsourcing (ITO) in the Life Sciences Industry - Annual Report 2014: Analytics Driving the Innovation Engine.

In addition, a free Everest Group webinar on "What's Driving the Surge in Life Sciences IT Outsourcing?" is available for viewing on demand.

"Analytics has entrenched itself as a key lever to provide real- time, actionable insights and improve operational efficiency," said Jimit Arora, vice president at Everest Group. "Analytics will be a primary tool for life sciences firms driving key strategic initiatives, particularly with respect to cost reduction, top-line growth, and risk and compliance management."

Everest Group is an advisor to business leaders on the next generation of global services.

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Source: Manufacturing Close - Up

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