[July 09, 2014]

IT Outsourcing in Life Sciences Industry Records 35 Percent Growth in 2013: Everest Group

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

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.

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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."

Download Publication-Quality Graphics
High-resolution graphics illustrating the report's key takeaways can be included in news coverage, with attribution to Everest Group. Graphics include:

• Twelve percent CAGR anticipated in healthcare ITO market 2013-20
• Increasing demand for infrastructure services expected in healthcare IT outsourcing
• Analytics present triple value in healthcare ITO
• New demands are driving changes in location maturity for life sciences ITO

About Everest Group
Everest Group, an advisor to business leaders on the next generation of global services, has a worldwide reputation for helping Global 1000 firms improve performance by optimizing back- and middle-office business services. Through practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Visit www.everestgrp.com and research.everestgrp.com.

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