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Investment confidence among laboratory decision makers
1. Investment Confidence Among Laboratory Decision Makers
The laboratory industry enjoyed several years of robust growth from the late 1990s until 2003. The
combination of record research and development (R&D) investments by the biopharmaceutical industry
with the doubling of the United States National Institutes of Health (NIH) budget allowed continual
double-digit growth rates. While laboratory investments were dampened from 2003 through 2008,
growth rates remained relatively stable in the mid-to-high single digit range.
During the latter half of 2008, the laboratory industry embarked on a rollercoaster ride with multiple
ups and downs. The economic downturn had a tremendous impact on the laboratory industry with
across-the-board budget cuts. Facing impending doom after the downfall in the fourth quarter of 2008,
the industry was revived with the 2009 United States American Recovery and Reinvestment Act (ARRA)
containing $xx.x billion dedicated to the NIH to be spent immediately in 2009 and 2010. However, with
funding slow to be distributed to laboratories, the industry saw little benefit until the fourth quarter of
2009, resulting in the first market contraction in over a decade.
Report Details:
Published: February 2012
No. of Pages: 46
Price: US $ 10000
The year 2010 was marked by a huge bounce-back: academic researchers were flush with AARA funds
and the industrial sector rebounded from its 2009 purchasing freezes. The combination of stimulus
dollars and pent-up demand resulted in an exceptionally strong year for the laboratory industry. While
consolidation among biopharmaceutical companies remained a major obstacle for growth, by the end of
2010 the general industry consensus was that the market had returned to a state of normalcy.
Accordingly, 2011 started off strong with residual impact from stimulus dollars and the general
economic recovery. Come the fall months, though, the market began to soften with laboratory hiring
freezes and deterioration across most purchasing budgets. Despite drastic changes, the overall market
remained relatively flat compared to 2010. If there was any growth, it was low: around x percent
globally. In more mature regional markets, like in the United States, Europe, and Japan, growth rates
were certainly lower. Despite a recovery, industry growth did not return to pre-recessionary levels.
The study investigates investment decisions of healthcare-related laboratory decision makers. It shows
that 2011 was tumultuous for the laboratory industry. In comparison, the outlook for 2012 looks only
slightly positive. In particular, laboratory decision makers generally expect their funding conditions to
either remain the same or minimally improve. Nonetheless, with this year still kicking-off, there are
reasons to believe that 2012 has some good things in store for the laboratory industry. Laboratory
2. decision makers are fairly confident that their laboratories will be sufficiently funded to maintain proper
work environments and acquire the necessary technology to reach the research objectives.
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