Prospering in a Down Market: Strategies for Life Science Suppliers
BioInformatics, LLC
March 1, 2009 159 Pages - SKU: BIF2476772
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| This report will help life science suppliers weather the financial storm of 2009. Pharmaceutical, biotechnology, academic and government labs are bracing for budget freezes and staff reductions. Use this report to understand how scientists plan to control lab costs, what products will be affected and the degree of concern scientists have about the economic climate.
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- I. The Impact of the Economic Crisis on Laboratory Budgets
- • Fiscal year starts/ends
- • FY08 Lab budget
- • FY09 Lab budget
- • Percentage spent on
- Capital equipment (>$25,000)
- Instrumentation (<$25,000)
- Consumables
- Other
- • Sources of funding FY08 and FY09
- Percent of funding by source
- Anticipated change in FY09
- Anticipated change in through 2011
- II. Scientists’ Reactions to the Current Economic Climate
- • Impact economic recession on current research
- • Level of concern
- Perception of overall impact compared to other
- Specific budget cutbacks in the lab
- Specific budget cutbacks in the institution
- • Overall impact on purchasing
- • Changes in grant applications
- III. Anticipated Changes in Laboratory Purchases in
- 14 Product Categories
- • Products in use/Primary Supplier
- Cell biology instruments—Flow cytometer-based
- Cell biology instruments—Microscope-based
- Cell biology kits and reagents
- Cell culture media and reagents
- Computer hardware
- Gene expression analysis products
- High throughput screening and analysis systems
- Image analysis systems
- Instrumentation for genomic analysis
- Instrumentation for protein analysis
- Laboratory plasticware
- Nucleic acid purification and separation products
- Protein purification and separation products
- RNAi products
- • Anticipated change in purchases by product category
- • Planned capital equipment purchases by product category
- • Potential for customer switching
- IV. The Adoption of Cost-Saving Lab Practices
- • Cost saving measures employed
- • Planned Cost saving measures
- Bulk ordering
- Change direction of inquiry
- Conservation measures
- Decrease/stop long-term experiments
- Defer capital equipment purchases
- Delay/cancel nonessential purchases
- Downsize staff
- Halt new initiatives
- Increase energy efficiency
- Increase the use of core facilities
- Lease instrumentation
- Outsource work
- Participate in “reagent rental” programs
- Postpone or suspend projects
- Postpone or suspend specific experiments
- Purchase through alternative channels
- Purchase/acquire used instrumentation
- Purchasing groups
- Reduce/cease experiments with animals
- Rent instrumentation for the duration of a project
- Reuse products
- Share resources with other labs
- Standing orders
- Switch to less expensive alternatives
- • Interest in used lab equipment
- • Impact of cost saving measures on service contracts
- • Attractiveness of special offers from suppliers
- • Interest in assistance/advice of suppliers
- • Credibility of supplier advice
- • Interest in environmentally-friendly products
- Additional Analysis by
- Years of experience
- Lab size
- Purchasing authority (consumables)
- Purchasing authority (instrumentation)
- Product category
- Market segment
- U.S. geographic region
- Appendix A. Verbatim responses to the questions:
- • Despite this economic recession, is your lab planning on adopting new technologies this year? Why or why not? If so, which technology(ies) will your lab will be adopting?
- • Do you think your research or the research in your field will change due to policies implemented by the new presidential administration? Why or why not?
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