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50 BIOTECHNOLOGY


also expect an ordinary product budget increase of 1.1 per cent 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 per cent.


“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.”


& Sullivan Life Sciences Principal Analyst Jonathan Witonsky. “Academic labs anticipate an unparalleled 6.0 per cent increase in spending on instruments, which is also the biggest lab expense.”


Respondents from government labs expect a mere 0.1 per cent 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


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0.6 per cent in 2013. Tis is a modest hike, considering Frost & Sullivan forecast a 4.6 per cent growth in the overall biopharmaceutical market. Due to continued industry consolidation, R&D spending is not commensurate with revenue growth.


Respondents from industrial labs


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. Te latter appears to be much more cost-effective, resulting in fairly low revenues relative to the degree of use.


For more information, visit www.frost.com


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