The primary aim of this study is to establish the size of laboratory budgets for the purchasing of products in 7 categories and the baselines for developing trends (2013 to 2014). Additionally, this research investigates the factors that drive selection of laboratory products and how these products are associated with factors driving selection. Overall, laboratory budgets are expected to grow in 2014 with the largest increases budgeted toward chemicals and life science reagents/kits. Patient care, biopharmaceutical, and industrial laboratory facilities have the largest budgets and are mostly self–funded. Product quality and brand reputation are attributes that are driving laboratory product selection.
The primary goals of this research are to establish the size of laboratory budgets for the purchase of products in X categories and to establish baselines for developing trends (2013 to 2014): • Instruments • Equipment • Chemicals • Life science reagents and kits • Glass labware • Plastic labware • General laboratory supplies
Additionally, this research investigates the factors that drive the selection of laboratory products and how these laboratory products are associated with the factors that drive selection.
Methodology Readers of Lab Manager magazine were invited to participate in an online survey in September 2013. To qualify for survey participation, readers must play a role in their laboratory purchasing process, be familiar with their laboratory products budgets, and represent a laboratory that either uses or plans to use products in X or more of the X specified laboratory product categories.
Reporting Notes • Readers are cautioned that the results for the biopharmaceutical and government sectors are based on a small number of observations; therefore, they should be taken as directional rather than as actionable. • Respondents indicate a wide range of job titles such as researcher, scientist, investigator, director, manager, or technician. For convenience, they are generally referred to as “researchers” in this study, but this term should be understood to include all respondents. • In total,X% of respondents work in the United States. The #2 country cited is Canada, at X%. Nevertheless, this is called a global study because the survey was open to respondents from all countries. • Monetary values are reported in US dollars. • A similar study was conducted among the same targeted respondents in 2012 (n=X); thus, where applicable, year-over-year findings will be presented to determine any early trend developments.
Laboratories are Optimistic about Budget Growth in 2014 Overall, average laboratory budgets are expected to grow nearly $X in 2014, with the largest increases budgeted toward chemicals and life science reagents/kits. However, academic and biopharmaceutical institutions are forecasting budget reductions.
Self-funded Laboratories are Driving Growth Patient care, biopharmaceutical, and industrial laboratory facilities have the largest budgets and are mostly self-funded.
Brand Reputation Matters While product quality and brand reputation are attributes that are expected to drive laboratory product selection, quick delivery ranked surprisingly high in importance. This may be due to laboratories purchasing products on an as-need basis instead of holding large product stocks, which is a result of past and current budget uncertainties.
Patient Care has the Largest Forecast Growth Patient care lab budgets are showing the strongest growth forecasts at a nearly $X increase (i.e., a X% growth rate). However, there is little growth in chemical budgets here—labs are instead planning increased purchases of equipment and life science reagents/kits. These growth estimates may be in relation to increasing patient demand resulting from the US Affordable Healthcare Act.
Online Ordering is a Reality Buyers continue to shift away from in-person and phone-in catalog purchases in favor of online buying, with nearly X% of labs preferring eCommerce channels. As a result, ease-of-ordering, transparency, quick delivery, convenience, and no-hassle shopping are growing demands.
Research Provides Recommendations for Suppliers in 2014 Suppliers looking to grow in 2014 should focus on large, privately funded clients and streamline their online ordering processes.
Table Of Contents
2014 Projected Global Laboratory Products Budgets Table of Contents
1. Research Background, Objectives, and Methodology 2. Executive Summary 3. Prevalence of Laboratory Products and the Influential Factors of Selection 4. Products Budget and Volumes 5. Verbatim Responses from Academic Institutions 6. Verbatim Responses from Federal and State Government Institutions 7. Verbatim Responses from Biopharmaceutical Laboratories 8. Verbatim Responses from Industrial Laboratories 9. Verbatim Responses from Hospital and Clinical Laboratories 10. Respondents' Profiles 11. The Frost and Sullivan Story