A new report by independent market analysis firm Datamonitor, highlights three key trends that will shape the pharmaceutical technology market in 2007 in the U.S.,Canada and Western Europe. According to the report "2007 Trends to Watch: Pharmaceutical Technology," translational medicine will drive adoption of robust data analytic solutions among other business intelligence (BI) technologies. The report says the pharmaceutical industry's future prosperity will also depend on product lifecycle management (PLM) technology investments taken sooner rather than later while pressure to improve the effectiveness of sales and marketing will drive investments in customer relationship management (CRM) technologies.

Global pressures for safer drugs as well as scientific and technological advances are forcing the pharmaceutical industry to re-think the role of IT solutions during the discovery and development stages of the supply chain. The shift towards translational medicine necessitates ways of integrating IT earlier in the product life cycle.

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