Navigation Links
Frost & Sullivan: Australian Pharmaceuticals and Life Sciences IT Market Is Still Growing
Date:2/18/2009

CANBERRA, Australia, Feb. 18 /PRNewswire/ -- Growth is expected in Australian pharmaceuticals and life sciences market. In 2007, pharmaceuticals spending on IT accounted for 80 percent or $258.6 million and will continue to drive the growth of this market. For the same period, life sciences spending on IT accounted for $64.6 million or 20 percent of the total spending in the pharmaceuticals and life sciences market. It is expected to grow at a compound annual growth rate of around 14.3 percent from 2007 through to 2014 with potential revenues of $825.1 million in 2014.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO)

According to Frost & Sullivan Consulting Analyst, Sourabh Janardan Kankhar, "The pharmaceuticals industry is one of the leading exporters in the Australian manufacturing sector. At present, Australia is the 15th largest pharmaceuticals market globally. The Australian pharmaceuticals industry is expected to double its share in the world pharmaceuticals market by 2012. Currently, the Australian pharmaceuticals industry represents one percent of the world pharmaceuticals market.

Kankhar further explains, "The majority of multinational industry participants in Australia are subsidiary organisations. The leading participants include Sanofi-Aventis, Novartis, Roche, Lily, Wyeth and CSL being the largest Australian biotechnology company. Whereas, research-oriented biomedical science companies and institutes such as IDT, Zenyth, Therapeutics and Cerylid Bio Sciences often work in collaboration with hospitals, universities and other government organizations. This collaboration plays a critical role in biomedical discovery R&D and clinical trials R&D in Australia."

The cost-effective drug discovery solutions through in-silico research are driving SME life sciences companies to increase IT spending on enterprise compliances and quality management systems.

Pharmaceuticals companies are continuing to invest in CRM solutions to address the needs of their end clients such as physicians and patients in a better way to maximise sales. Most large pharmaceuticals companies have ERP systems to support SCM, CRM, manufacturing and R&D processes, yet are in silos and often disconnected from each another. However, due to the extensive reach (both geographic and speciality) of MNC operations, efficient data management system is necessary to maximize knowledge sharing among department and locations.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

    Contact:
    Emmie Kaur
    Corporate Communications - Healthcare, Asia Pacific
    DID: +603 6204 5913
    Email: emmie.kaur@frost.com

    Jasminder Kaur
    Corporate Communications - Healthcare, Asia Pacific
    DID: +65 6890 0937
    Email: jkaur@frost.com


'/>"/>
SOURCE Frost & Sullivan
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Frost & Sullivan Recognizes Strategic Healthcare Programs for Best Practices in Focused Innovation
2. Frost & Sullivan Says, Innovative Therapies Needed to Deal With the Rapid Spread of Cancer in Europe
3. Frost & Sullivan Helps You Know Your End-Market: Medical Trends Impacting the Chemicals and Materials Markets
4. Frost & Sullivan - Consumer Preference for Healthy Bakery
5. Frost & Sullivan Finds Compliance Requirements Drive the Healthcare Security Boom
6. Frost & Sullivan Bestows Product Line Strategy Leadership Award to VTS Medical Systems, LLC
7. Frost & Sullivan Forecasts Increased Demand for Portable and PC-based Ultrasound Units in Eastern Europe
8. Verified Physicians a Must for Ensuring Quality Data From Online Surveys, Finds Frost & Sullivan
9. Ready-To-Use Products Spur the European Tissue Sealants and Topical Hemostats Markets, Says Frost & Sullivan
10. Frost & Sullivan to Host Analyst Briefing on the European Orphan Diseases Market: Niche-Busters - An Attractive Future?
11. VTS Medical Systems, LLC Awarded Frost & Sullivan Excellence in Healthcare, Product Line Strategy Leadership Award for 2009
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal their media with ... X," said Christina Austin - CEO of Pixel Film Studios. , ProSlice Color ... users can now reveal the media of their split screens with growing colorful ...
(Date:6/26/2016)... ... , ... Quality metrics are proliferating in cancer care, and are derived from ... of the beholder, according to experts who offered insights and commentary in the current ... For the full issue, click here . , For the American Society of ...
(Date:6/26/2016)... ... June 26, 2016 , ... Many women are confused ... endometriosis. These women need a treatment plan to not only alleviate symptoms and ... help for preservation of fertility and ultimately achieving a pregnancy. The specialists at ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , ... Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. , ... our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article ... people are unfamiliar with. The article goes on to state that individuals are now ... of these less common operations such as calf and cheek reduction. The Los Angeles ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 Any dentist who has ... of the current process. Many of them do not even ... technical difficulties and high laboratory costs involved. And those who ... it at such a high cost that the majority of ... Dr. Parsa Zadeh , founder of Dental Evolutions ...
(Date:6/23/2016)... 2016 Capricor Therapeutics, Inc. ... biotechnology company focused on the discovery, development and ... enrollment in its ongoing randomized HOPE-Duchenne clinical trial ... of its 24-patient target. Capricor expects the trial ... of 2016, and to report top line data ...
(Date:6/23/2016)... , June 23, 2016  Astellas today announced the establishment of Astellas Farma Colombia (AFC), a new affiliate with ... Latin America . ... ... ... ...
Breaking Medicine Technology: