Lab Equipment Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Every organization and its procurement team look forward to negotiating the best deal while procuring a set of products or subscribing to services. Rate benchmarking involves price/cost comparison of more than one set of products/services to analyze the most efficient combination that can potentially help the procurement team in getting the optimum rate.

The price of test tubes offered in the category ranges from USD 0.25 - USD 2.25 per piece depending on the size and type (disposable or reusable). The price of a magnetic stirrer with a hot plate aluminum stirrer ranges from USD 20 - USD 330, based on the volume, RPM speed, and plate size. The price of centrifuges offered in the category ranges from USD 27 to USD 63,000 depending on the type of centrifuge (mini, micro and benchtop), RPM speed and relative centrifugal field (RCF). The price of incubators offered in the category ranges from USD 31 to USD 49,900 depending on chamber size, temperature ranges, and features (smartphone notification, alarms, etc.)

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Labor cost is one of the key components of the total incurred costs while offering a product or service. Therefore, an organization must decide on whether the focus category should be retained in-house or outsourced if the organization is providing its products or services at competitive prices. If the organization decides in favor of outsourcing, it must understand the difference in the salary structures of suppliers before selecting a supplier and formulating a negotiation strategy.

According to our research, Production Supervisors working in Agilent Technologies, Inc. and Thermo Fisher Scientific Inc. receive a 10% - 15% higher base salary compared to the salary received by Production Supervisors working in Global Scientific Ltd. and Hilton Instruments Ltd. However, the year-on-year increment rate in all these companies majorly depends on the Key Result Areas (KRAs).

Organizations may find it cumbersome to track all the latest developments in their supplier landscape continuously. Outsourcing the activities related to gathering intelligence allows organizations to focus on their core offerings. At this juncture, our newsletter service can help organizations stay updated with the latest developments and innovations and subsequently assist in preventing disruptions in the supply chain. We have identified the following developments within the Lab Equipment category over the last two years:

In March 2023, Agilent Technologies Inc. announced the acquisition of e-MSion. The acquisition has provided Agilent with an ‘ExD cell’ (an innovative electron capture dissociation technology), which the company has integrated into its collection of cutting-edge tools, processes, and analytical solutions for the creation and characterization of biotherapeutics.

In August 2022, Bio-Rad Laboratories, Inc. announced the acquisition of Curiosity Diagnostics, Sp. Z. o. o. The acquisition will support Bio-Rad's efforts to develop and introduce a new generation of rapid PCR technologies. The technology is anticipated to expand the company's reach into near-patient molecular diagnostics labs, expanding its reach beyond high-complexity labs. It will also offer streamlined workflow and quick turnaround times.

In February 2022, Sartorius AG's subgroup Sartorius Stedim Biotech announced acquisition of chromatography division of Novasep. The acquisition has provided Sartorius with cutting-edge equipment for the continuous production of biologics as well as chromatography systems that are primarily appropriate for smaller biomolecules like insulin, peptides, and oligonucleotides.