[October 19, 2017]

Lab Supplies Market Procurement Report - Pricing, Trends, and Forecast by SpendEdge

Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Lab Supplies Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of lab supplies and acts as an all-inclusive guide for making smart purchasing decisions.

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Global Lab Supplies Procurement Market Intelligence Report (Graphic: Business Wire)

"The demand for lab supplies is mainly due to the predominant use of these in secondary sectors such as pharmaceuticals, academics, and consumer," says SpendEdge procurement research analyst Tridib Bora. "The demand for lab supplies are also being fuelled by its use in various tests such as controlling food adulteration and quality control of food," added Tridib.

Key Report Features

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Report Insights

• The demand for lab supplies is mainly from sectors such as pharmaceutical, consumer, and academic due to the increased need for better quality of testing during research in the laboratory.
• Procurement managers should engage with suppliers that provide comprehensive purchase orders which facilitate buyers' clarity on all relevant costs and creates opportunities for better price negotiation. Also adopting systematic procurement practices that allow them to choose suppliers that have a well-defined distribution channel, helps to overcome most of the major challenges.
• One of the major challenges faced in this market is difficult to identify suppliers that adhere to the required regulatory standards. Therefore engaging with suppliers that are noncompliant to existing regulations may affect buyers' reputation and brand image.

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Global Lab Supplies Market Pricing Trends

The volume-based pricing model and unit-based pricing model find comparable adoption in the global lab supplies market, though volume-based pricing is the most preferred pricing model for consumables in the global lab supplies market. The volume-based pricing model helps to avail discounts due to bulk purchases. Whereas the unit-based pricing model the buyers gain a better clarity regarding the cost structure of the product on a per-unit basis.

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• Global Clinical Research Services Category - Procurement Market Intelligence Report

• Global Laboratory Equipment Services Category - Procurement Market Intelligence Report

About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

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