Frost & Sullivan: Where Will Laboratory Budgets be Allocated?

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.