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Frost & Sullivan: Where Will Laboratory Budgets be Allocated?

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3 Pages
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Frost & Sullivan: Where Will Laboratory Budgets be Allocated? PR Newswire MOUNTAIN VIEW, California, Sept. 6, 2012 - Analysis found modest budget increases, with the majority of spending on laboratory consumables MOUNTAIN VIEW, California, Sept. 6, 2012 /PRNewswire/ -- Slow growth in laboratory spending can be explained consistently by budget cuts; however, the reasons for these cuts are varied. In a Frost & Sullivan survey of laboratory decision makers, respondents cite the general recession, reductions in state or city funding, fewer federal grants, and consolidation due to corporate mergers and takeovers as reasons for their weak spending power. New analysis from Frost & Sullivan's (http://www.drugdiscovery.frost.com) Global Laboratory Product Purchasing Trends research finds that the average total budget among surveyed laboratories was $313,500 in 2010. This figure declined slightly to $313,200 in 2011. The outlook for 2012 is not terribly positive, as survey respondents expect only a modest increase of roughly 1 percent to $316,000. This analysis is derived from a survey of laboratory leadership from academic, biopharmaceutical, industrial, patient care, and government laboratories. Most respondents were located in the U.S., although participation in the survey was open to respondents globally. If you are interested in more information on this research, please send an email to Britni Myers, Corporate Communications, at britni.myers@frost.

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Frost & Sullivan: Where Will Laboratory Budgets be Allocated?
PR Newswire MOUNTAIN VIEW, California, Sept. 6, 2012
- Analysis found modest budget increases, with the majority of spending on laboratory consumables MOUNTAIN VIEW, California,Sept. 6, 2012/PRNewswire/ -- Slow growth in laboratory spending can be explained consistently by budget cuts; however, the reasons for these cuts are varied. In a Frost & Sullivan survey of laboratory decision makers, respondents cite the general recession, reductions in state or city funding, fewer federal grants, and consolidation due to corporate mergers and takeovers as reasons for their weak spending power. New analysis from Frost & Sullivan's (http://www.drugdiscovery.frost.com) Global Laboratory Product Purchasing Trendsresearch finds that the average total budget among surveyed laboratories was$313,500in 2010.This figure declined slightly to$313,200in 2011. The outlook for 2012 is not terribly positive, as survey respondents expect only a modest increase of roughly 1 percent to$316,000analysis is derived from a survey of laboratory. This leadership from academic, biopharmaceutical, industrial, patient care, and government laboratories. Most respondents were located in the U.S., although participation in the survey was open to respondents globally. If you are interested in more information on this research, please send an email to 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. "In addition to managing the day-to-day operations and challenges of their laboratories, laboratory managers are now confronted with an increasingly volatile budgeting process," said Frost & Sullivan Principal Analyst Jonathan Witonsky. "Whencompared to the early part of the last decade, which was shaped by dependable and steady growth, the past three years are easily characterized as uncertain — and, at times, tumultuous — due to numerous market swings." On average, academic laboratories reported spending$272,000on laboratory products in 2011.The corresponding figures for other laboratory types include $250,000for biopharmaceutical;$123,000for industrial;$861,000for patient care; and$1,098,000for government. The majority of laboratory spending, more than 60 percent, is on consumables: chemicals, life science reagents and kits, glassware, plasticware, and general laboratory supplies. Investment in these products is expected to remain stable — as much as 19 percent of budgets will be allocated to the purchase of general laboratory supplies, 16 percent to the purchase of chemicals, 16 percent to the purchase of life science reagents and kits, 6 percent to the purchase of plasticware, and 5 percent to the purchase of glassware. Instruments and equipment make up about 40 percent of spending. Up to 27 percent of a budget is allocated to the purchase of instruments, and 13 percent is allocated to the purchase of equipment. Instruments are the single largest ex enseof laboratories, with the averae instrument budet totalinmore