How Life Sciences Companies Buy Translation and Localization Services

New report from Common Sense Advisory provides detailed look at market opportuni
ties for translation and localization services in the pharmaceutical and medical
device sectors.
Boston, MA – October 28, 2010 -- Demand for language services in the pharmaceutica
l and medical device sectors is exploding. Analysis of the U.S. market by market
research firm Common Sense Advisory showed that pharmaceutical and medicine man
ufacturing translation was worth US$75.8 million in 2009, while medical equipmen
t and supplied manufacturing translation was worth US$100.4 million. The firm es
timates show that the European pharmaceutical translation sector was worth US$26
5.11 million in 2009, and there are more than 10,000 pharmaceutical manufacturin
g companies.
A new research report from Common Sense Advisory, “How Life Sciences Firms Buy Tra
nslation,” gives language services providers (LSPs) a detailed look at the market
opportunities for translation and localization services in life sciences industr
ies. The report, which is based on interviews with major buyers of translation a
nd related services in the life sciences field, outlines the views of these buye
rs, describe what they look for in language service providers, and reviews curre
nt trends in the life sciences industry that affect the provision of medical tra
nslation and localization.
“According to our interviews, life sciences firms anticipate a fast-growing demand
for translation, localization, and cultural customization in Asian languages, e
specially those languages spoken by large populations of potential consumers and
clinical trial participants in India and China,” comments report analyst and Chie
f Research Officer Nataly Kelly. “Multi-language vendors will need to expand thei
r pools of translators and specialists in Asian languages to prepare for higher
volumes from life sciences buyers in these languages,” she explains. “Asian-language
specialists stand to benefit the most from this growth.”
Key research findings detailed in the report include:
* Reliance on multiple translation and localization vendors is typical in life s
ciences, but centralized purchasing processes are not. Many large firms often ha
ve no idea how many suppliers they have across the organization.
* Price is not the most important criterion for life sciences companies when the
y purchase translation and localization services.
* Pharmaceutical and medical device companies report low levels of confidence in
their translation vendors’ quality. They also often distrust certificates of accu
racy and ISO certifications, relying more heavily on sample translations to asse
ss quality.
* Life sciences firms seek five major things from their translation vendors: tec
hnical expertise, willingness to collaborate, financial stability, adaptability,
and a commitment to quality.
The report also contains multiple tools, charts, and takeaways, including:
* A list of 72 commonly requested life sciences translation projects
* Examples of supplier websites that successfully employ search engine optimizat
ion, targeted image selection, and messaging that showcases vertical and regiona
l expertise
* An assessment of differentiation strategies for marketing and selling translat
ion and localization services in life sciences
* Insight into the buyer’s mind – a detailed understanding of what they expect from
translation providers and the challenges they face within their organization
* An overview of the six key life sciences industry trends that are affecting th
e way translation services are provided
* Listings of 96 unique languages with one million or more speakers in China and
India
For more on the firm’s research, visit www.commonsenseadvisory.com.
About Common Sense Advisory
Common Sense Advisory, Inc. is an independent research and analysis firm special
izing in the on- and offline operations driving business globalization, internat
ionalization, localization, translation, and interpretation. Its research, consu
lting, and training help organizations improve the quality of their global busin
ess operations. For more information, visit:€www.commonsenseadvisory.com or€www.twit
ter.com/CSA_Research.
Media Contact:
Melissa Gillespie
Common Sense Advisory
Boston, MA
+1 760-522-4362
melissa@commonsenseadvisory.com
http://www.commonsenseadvisory.com