US Laboratory Product Purchasing Trends, 2023 2024
An End-User Perspective on Spending and Growth Opportunities
21-Feb-2024
Global
Market Research
Qualified respondents to this Frost & Sullivan survey were invited to participate in a telephone interview examining their laboratory’s product purchasing process in 2023 and expectations for 2024. Frost & Sullivan has conducted similar studies among the same targeted respondents since 2012. The survey provides companies with actionable and trending information from laboratory professionals to help drive business strategies and develop growth expectations.
The study presents year-over-year data to illustrate yearly laboratory budget trend developments where applicable. Note that the recruitment approach for 2023 shifted from inviting magazine readers to participate in an online survey to direct recruitment of professionals for telephone interviews. Survey participants play a role in their laboratory’s purchasing process, are familiar with the laboratory’s product budgets, and represent a laboratory that uses or plans to use products in one or more of the seven laboratory product categories: instruments, equipment, chemicals, reagents and kits, general lab supplies, plasticware, and glassware. A total of 120 decision makers participated, answering questions on purchases, budgets, buying behaviors, and purchasing preferences.
Respondents were segmented by laboratory type: academic/government, biopharmaceutical, industrial, and hospital/clinical. Manufacturing, environmental testing, chemical or petrochemical, and food, beverage, or agricultural laboratories are classed as industrial laboratories for this analysis. Biotechnology, pharmaceutical, and contract research organizations are categorized as biopharmaceutical laboratories. State government and federal government laboratories are grouped as government laboratories. Hospital laboratories and clinical reference laboratories are included in the hospital/clinical group. Respondents encompassed various job titles: researcher, scientist, investigator, director, manager, and technician.
Data collected for budgets were quantitative and qualitative for end-user trends, such as budget expectations, brand selection preferences, purchasing process steps, evaluation and sourcing of lab products, recent and expected instrument and equipment purchases, frequency of price comparisons, funding trends, unmet needs, product purchasing preferences, the impact of inflation and supply chain issues on laboratories, the impact of inflation on budgets and spending, and conference attendance expectations.
Author: Christi Bird
Survey Objectives and Methodology
Respondent Profile
Key Findings
Product Budget Changes
2023 Laboratory Product Budget Breakdown and 2024 Trend
Information Sources for Lab Products
Information Sources for Lab Products (continued)
Most Frequently Used Information Sources
Most Frequently Used Information Sources (continued)
Products Purchased/Expected to Be Purchased
Historical Comparison of Purchases
Products Purchased/Expected to Be Purchased, by Organization Type
Historical Experience with Lab Product Purchases
Importance of Product Features
Importance of Product Features (continued)
Importance of Product Features—Country of Origin
Importance of Manufacturer Features
Importance of Ordering and Shipment Features
Frequency of Price Comparisons
Purchase Channels
Most Frequently Used Purchase Channels
Most Frequently Used Purchase Channels (continued)
Importance of Purchasing Experience Aspects
Importance of Purchasing Experience Aspects (continued)
Improvements to Laboratory Product Purchases
Purchasing Experience Assessment
Purchasing Experience Assessment (continued)
Purchasing Experience Opportunity Areas
Purchasing Experience Opportunity Areas (continued)
Purchasing Experience Opportunity Areas (continued)
2023 Laboratory Product Budget
2023 Laboratory Product Budget by Organization Type
2023 Laboratory Product Budget Breakdown and 2024 Trend
2023 Laboratory Product Budget Breakdown and 2024 Trend (continued)
Laboratory Funding Sources
Q4 2023 Laboratory Product Spending
Supplier Relationships
Supplier Relationships (continued)
Impact of Supply Chain Challenges on Laboratories
Impact of Supply Chain Challenges on Laboratories (continued)
Impact of Supply Chain Challenges on Laboratories (continued)
Impact of Inflation on Budget and Spending
Impact of Inflation on Budget and Spending (continued)
Conference Attendance
Conference Attendance (continued)
Conference Attendance (continued)
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Deliverable Type | Market Research |
---|---|
Author | Christi Bird |
Industries | Chemicals and Materials |
No Index | No |
Is Prebook | No |
Keyword 1 | US Laboratory Product Purchasing Trends Analysis |
Keyword 2 | laboratory supplies |
Keyword 3 | Laboratory Product Purchasing Dynamics |
Podcast | No |
Predecessor | K8C7-01-00-00-00 |
WIP Number | KA04-01-00-00-00 |