Life sciences, which includes drug research based on genetic data, is one of the fastest-growing industry sectors at IBM, as well as a promising field for the IT industry in general. Big Blue's new information-based medicine unit will target potential customers such as academic medical research centers, said Mike Svinte, IBM's vice president of information-based medicine. He estimated that the overall market for IT spending in the sector will jump from slightly more than $4.5 billion in 2003 to about $8 billion by 2006.
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