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The demand for an integrated way to collate data in the pharmaceutical industry is driving the production of a new generation of IT system.
Firms that produce laboratory information management systems (Lims) hope to soon provide solutions that work seamlessly with other business process software.
New analysis from Frost & Sullivan finds that the markets generated revenues of £70.8m in 2007 and are estimated to reach £124.18 in 2014.
Frost & Sullivan research analyst, Prabakar Sampath, said: “The need to manage the information deluge is the key driver for the Lims market.
“Lims applications are considered mission-critical systems, since efficient storage, retrieval and sharing of information with other business intelligence software is crucial to the business process.”
The need to deduce system-level knowledge for biological processes requires information to be annotated and formatted using standard procedures. Lims vendors are therefore improving their product portfolios to offer efficient integration with business process software.
However, mounting research costs and waning R&D productivity in Europe is a cause of concern for developers of Lims. Despite efforts by the EC and EFPIA, there has been a consistent decrease in the number of research R&D sites in Europe.
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