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BIOTECHNOLOGY 49


environment, are also helping market prospects.”


Product Budgets Meanwhile, 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.


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 per cent from 2011. On average, researchers anticipate budget growth of 1.2 per cent for 2013. Tis 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.


Te budget cuts imposed by the Sequestration Act could reduce academic and government laboratories’ budgets by as much as 10.0 per cent 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 per cent, more than any other lab type,” said Frost


For more information ✔ at www.scientistlive.com/eurolab


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