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Researchers Expect a Marginal Increase in Laboratory Product Budgets for 2013, Finds Frost & Sullivan
Date:3/14/2013

MOUNTAIN VIEW, Calif., March 14, 2013 /PRNewswire/ -- Among laboratory types, including academic, biopharmaceutical, industrial, patient care, government and others, patient care had the largest product budget on average in 2012, followed by pharmaceutical labs. Furthermore, when putting the budgets to use, Frost & Sullivan's analysis finds that researchers are most keen on acquiring laboratory products such as chemicals and general lab supplies, while life science reagents and kits are at the bottom of their lists.

New analysis from Frost & Sullivan's (http://www.lifesciences.frost.com) 2013 Projected Global Laboratory Products Budgets research, which is based on a survey of laboratory researchers, finds the average budget for lab products was $257,500 in 2012, up by 1.0 percent from 2011. On average, researchers anticipate budget growth of 1.2 percent for 2013. This analysis establishes the size of laboratory budgets for the purchase of products in seven categories: instruments, equipment, chemicals, life science reagents and kits, glass labware, plastic labware, and general laboratory supplies. Service and repair budgets for instruments and equipment also are covered.

For more information on this research, please email Britni Myers , Corporate Communications, at britni.myers@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

The budget cuts imposed by the Sequestration Act could reduce academic and government laboratories' budgets by as much as 10.0 percent and lower products' uptake. Meanwhile, cuts to the National Institutes of Health (NIH) will result in 2,300 fewer grants, which will bring grant applicant success rates to an all-time low.  Nonetheless, respondents from bo
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