Report
Description
Report Description
Product Lifecycle Management (PLM) is basically used to maximise the revenue
generating capacity of pharmaceuticals companies, especially at the maturity stage of the
product and also at its early stage. Pharmaceutical companies are using various PLM
strategies ranging from new combination of drugs, reformulations, expanded indication
ranges, and it also includes the use of alliances, mergers and acquisitions and licensing. A
PLM solutions also helps in increasing the productivity of a system by providing
methodologies and various tools to reduce redundancies. Also nowadays the PLM
vendors have started providing customized PLM solutions as per the requirements of the
enterprises. Oracle is offering a tailored PLM package to pharmaceutical companies that
can help their clients to shorten their time to market, simplify business networks and
reduce their operating costs. This package simplifies analysis of materials, suppliers, and
supports processes to scale up production volume. Previously PLM was used to manage
equipment reservations, material allocations, and recipe variations at the time of clinical
trials, use of PLM for these tasks shortens the time. The global pharma PLM market is
anticipated to expand at a modest CAGR during the forecast period.
Global Pharma PLM Market – Drivers and Restrains
The increasing need for productivity enhancement, product innovation and reduction in
operational cost are the key driving factors for the global pharma PLM market. The
growing reduction in budget, global competition and rising commercial slowdown in
pharmaceutical industries are expected to bolster the global pharma PLM market in the
forecast period.