Navigation Links
Researchers Expect a Marginal Increase in Laboratory Product Budgets for 2013, Finds Frost & Sullivan

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 ( 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, 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 both academic and government labs expect their product budgets to increase in 2013.

"Academic labs had the smallest budgets on average in 2012, but respondents from this segment forecast their 2013 product budgets will grow by 3.0 percent, more than any other lab type," said Frost & Sullivan Life Sciences Principal Analyst Jonathan Witonsky . "Academic labs anticipate an unparalleled 6.0 percent increase in spending on instruments, which is also the biggest lab expense."

Respondents from government labs expect a mere 0.1 percent growth in their 2013 product budgets. However, their intention to spend more than they did in 2012 is encouraging, given the bleak outlook for federal funding.

Respondents from biopharmaceutical labs aim to increase their product budgets by 0.6 percent in 2013. This is a modest hike, considering Frost & Sullivan forecast a 4.6 percent growth in the overall biopharmaceutical market. Due to continued industry consolidation, R&D spending is not commensurate with revenue growth.

Respondents from industrial labs also expect an ordinary product budget increase of 1.1 percent in 2013. Industrial labs deal with a broad range of applications – from chemical and petrochemical to food and beverage – and so, product budgets vary accordingly. Overall, industrial lab product budget growth rates mirror economic growth, which is forecast to remain below 3.0 percent.

"Patient care labs are the only type to report an anticipated budget decline in 2013," noted Witonsky. "Survey respondents expect their product budgets to shrink by 0.6 percent in 2013, but it is unlikely the trend will persist, as the Affordable Care Act in 2014 will add 19.5 million patients."

In the service and repair sector, laboratories allocate most of their budget to manufacturer service contracts, but in-house service departments and do-it-yourself services are also widely used. The latter appears to be much more cost-effective, resulting in fairly low revenues relative to the degree of use.

2013 Projected Global Laboratory Products Budgets is part of the Life Sciences Growth Partnership Service program, which also includes: Global Quantitative and dPCR Instrumentation and Consumables Purchasing Trends, Overview of the In-vitro Diagnostics Market in India, Analysis of European Hepatitis B and C Diagnostics Market, and Global Life Sciences Trends and Opportunities 2012-2015. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

Connect with Frost & Sullivan on social media, including Twitter, Facebook, SlideShare, and LinkedIn, for the latest news and updates.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

Join Us:           Join our community

Subscribe:       Newsletter on "the next big thing"

Register:         Gain access to visionary innovation

2013 Projected Global Laboratory Products Budgets

Britni Myers
Corporate Communications – North America
P: 210.477.8481
F: 210.348.1003
Twitter: @Frost_Sullivan
Facebook: Frost & Sullivan

SOURCE Frost & Sullivan
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Bio-Rad Receives the 2012 Frost & Sullivan North America Laboratory Researchers Choice Award for Future Market Leader
2. Researchers study bed alarms for nocturnal seizures
3. Leading Researchers in Vision Impairment and Blindness to Present at EURETINA Winter Meeting
4. Researchers at Scripps to Study Possible New Treatment for Parkinsons Disease
5. As Prescription Painkiller Overdoses Mount, Researchers Outline Effective Approaches to Curb Epidemic
6. Leading Researchers Outline Principles for Conduct of Comparative Effectiveness Research
7. Researchers and Patient Advocates Honored with PhRMA Award
8. Researchers Set Record for Detecting Smallest Virus, Opening New Possibilities for Early Disease Detection
9. Latest Breakthroughs and Treatments in Spinal Cord Injury Medicine Bring Top Clinicians and Researchers Together in Las Vegas
10. Researchers Discover All-Natural Weapon In The War Against Ovarian Cancer
11. Researchers Developing New Multiple Sclerosis Drug That Can Be Taken Orally
Post Your Comments:
(Date:11/24/2015)... and BERN, Switzerland , ... the ARTORG Center for Biomedical Engineering Research of the ... the Division of Endocrinology, Diabetes and Clinical Nutrition of ... the start of an exclusive collaboration to develop a ... algorithm for the personalised delivery of insulin for diabetic ...
(Date:11/24/2015)... st  Scientific Assembly and Annual Meeting of the Radiological Society ... Chicago on Nov-29 th through Dec-4 ...  Scientific Assembly and Annual Meeting of the Radiological Society of ... Chicago on Nov-29 th through Dec-4 th , ... present its revolutionary whole body CZT digital SPECT/CT solution at the ...
(Date:11/24/2015)... , November 24, 2015 The uptake of recently ... be a key driver of market growth to 2021, ... approved and pipeline premium products for Type 1 Diabetes Mellitus (T1DM), will ... says GBI Research . --> The uptake of ... will be a key driver of market growth to 2021, ...
Breaking Medicine Technology:
(Date:11/24/2015)... M.D. (PRWEB) , ... November 24, 2015 , ... ... new award for its exceptional customer service: the TrustDale certification. The award recognizes ... The Baltimore stone honing , tile and grout, and hard surface restoration ...
(Date:11/24/2015)... ... November 24, 2015 , ... Autism Speaks, the world’s leading ... driven by social media and the generosity of people around the world. On December ... media networks to give – and share the personal stories behind those gifts. ...
(Date:11/24/2015)... ... ... Peck’s mother wondered if she was a descendant of Samuel Fuller, a passenger on the ... for information, Don and his aunt discovered that she was not, in fact, related to ... Don’s father who was descended from not one, but four passengers on the famed ship ...
(Date:11/24/2015)... ... 2015 , ... Dehydration, defined as a loss of body water content, can ... sun, and heat stroke and death will quickly follow. A normal human body is ... cell, system and structure requires water to function properly. Kleyne, who believes that medical ...
(Date:11/24/2015)... CA (PRWEB) , ... November 24, 2015 , ... ... College District , the only authorized OSHA Training Institute Education Center in Northern ... injuries during the holiday season’s major sales events. As the volume of ...
Breaking Medicine News(10 mins):