Prospering in a Down Market: Strategies for Life Science Suppliers

Published by: BioInformatics, LLC

Published: Mar. 1, 2009 - 159 Pages

Table of Contents

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?

Abstract

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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