MARKET REPORT: Pharma Industry Looks to PLM
The report offers insight into four key attributes that pharmaceutical companies should look for in a PLM technology vendor, discusses successful PLM strategies, and argues that partnering with a technology vendor is beneficial to both the pharmaceutical company and the vendor. It notes that while PLM at its core aligns closely with the pharmaceutical industry's business processes, most current PLM technologies lack configurability attributes and other essential features.
"Product lifecycle management software and services solutions are still a nascent market for the pharmaceutical industry," says Markella Kordoyanni, pharmaceutical technology analyst at Datamonitor and author of the study. "Although the industry is starting to recognize the potential benefits of PLM in drug development, unless pharmaceutical companies adopt a strategic mindset about PLM, with all the process management changes and cultural adaptations it requires, PLM will remain a tactical solution whose potential is not maximized."