Laboratory Product Purchases Expected to Increase for 2005

A survey from Biocompare, Inc. finds that life scientists are planning on making big purchases next year.

SOUTH SAN FRANCISCO, Calif., Oct. 25 /PRNewswire/ -- A significant number of researchers expect to have bigger budgets in 2005, according to a recent survey of more than 2,000 life scientists. The survey, conducted by Biocompare Inc., found that 38% of the survey participants indicated that they would have more money to spend next year than they did this year.

Of those expecting larger budgets, clinical diagnostic testing institutions had the highest percentage of increased budgets followed by biotech companies and private research institutions. Academic labs, however, were less likely to report an increase in their 2005 budgets. This is in contrast to last year's survey where academic labs reported an increase in their budgets more often than biotech labs. When asked what they had planned for the additional funds, this year's survey takers mostly listed basic equipment as their priority purchases. These include gel electrophoresis systems, centrifuges, microscopes, thermal cyclers, incubators and balances.

"This study shows that there are definitely opportunities out there for life science suppliers to increase sales and gain new customers," said Mike Okimoto, Ph.D., Vice President of Content Development at Biocompare.

While basic equipment may constitute most of the purchases, the survey shows those who are planning on spending more than $500,000 on equipment in 2005 are setting their sights on mass spectrometers. Of those planning on purchasing software, most will purchase image analysis software.

Overall, the budget picture for life science researchers in 2005 looks slightly better than it did one year ago. This year 51% of those surveyed said that their budgets were going to remain the same next year and 9% indicated that their budgets would decline. When asked the same question in 2003, 60% of researchers indicated that their budgets were going to stay the same and 8% indicated that they would decline.

Nearly two-thirds of the survey respondents indicated that they would be implementing a new technique during 2005. These respondents listed real-time PCR most often as the new technique that they would introduce in their labs next year. The use of siRNA mediated RNAi came second, while mass spectrometry was third.

Respondents completed the "2004 Fall Purchasing Survey" online between September 20 and 24. Email invitations to complete the survey were sent to members of Biocompare's opt-in email list in addition to members of external opt-in email lists.

About Biocompare:

Based in South San Francisco, Biocompare is an online buyer's guide for life scientists. Their website, https://www.biocompare.com contains product information and a comparison tool that allow researchers, PI's, lab directors, and procurement personal to review life science products and specifications online. The site helps users decide which products are appropriate for their research. The product database is focused on several topics: Molecular Biology, Antibodies, Lab Equipment, Microarrays, Immunochemicals, Cell Biology, Protein Biochemistry, Lab Automation, Software, Bio Services, siRNA Technology, Tissue Culture. News and targeted eNewsletters are also part of Biocompare's online network of information.