Lab Consumables Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

Lab Consumables Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRCMSTR21828

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Lab Consumables Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The lab consumables procurement category is projected to grow at a CAGR of 6.17% during 2022-2026. The prices are outlined to rise by 5%-7% during the forecast period and suppliers will have moderate bargaining power in this market. Thermo Fisher Scientific, Danaher, and Avantor are a few of the key suppliers in the lab consumables market.

Lab Consumables Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth AnalysisLab Consumables Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

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Who are the Top Suppliers in the Lab Consumables Market?

This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the lab consumables procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading lab consumables suppliers profiled extensively in this report include:

Top Suppliers in the Lab Consumables Market

Furthermore, this lab consumables procurement market report provides a detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for lab consumables requirements. In addition, the most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.

What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?

The lab consumables procurement market report provides a detailed analysis of various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline the procurement process, and reduce category TCO while sourcing for lab consumables requirements.

Lab Consumables Market Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA

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What are the Most Adopted Procurement Strategies by Buyers Across Industries?

The report provides a detailed insight into the most adopted procurement strategies by buyers across industries and an analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings while sourcing for lab consumables requirements.

What are the Major Pricing Models Adopted by Buyers in Lab Consumables Market?

The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full lab consumables procurement market report now to get comprehensive details on pricing models

Price Strategies and Benchmark

Lab Consumables Procurement Pricing Model

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To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects an incremental spend of 11.02 $ billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through an analysis of the below factors:

  • Identify favorable opportunities in lab consumables TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

What will the Spend Growth and Demand be by Region?

The lab consumables market will register an incremental spend of about 11.02 $ billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!

The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Spend growth and regional spend segmentation over the coming years

Lab Consumables Procurement Spend Growth Analysis

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What are the Major Category Management Objectives for Lab Consumables Sourcing?

A targeted strategic approach to lab consumables sourcing will provide several opportunities. However, in the absence of actionable intelligence on lab consumables, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as top-line growth, scalability of inputs, and category innovations, which will assist buyers to formulate a strategic procurement strategy

The report explains the following key category management objectives that should form the base for sourcing strategy.

Category Management Objectives for Lab Consumables Sourcing

To explore the extent of influence of category management objectives that can improve the efficiencies of the retailers, Request for a FREE Sample Report!

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.

Scope of Lab Consumables

Report Specs

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Spend growth (CAGR)

6.17%

Incremental spend

11.02 $ billion

Pricing growth outlook

5%-7%

Pricing models

Volume-based pricing, Unit-based pricing, and Cost-plus pricing

Supplier selection scope

After-sales service, Logistic capabilities, Distribution capabilities, and Pricing terms

Supplier opportunities

Supplier synergies, Reducing total ownership cost, Negotiate on pricing and contractual terms, Reduction in ad-hoc spend, Quality management, Adoption of automation, Backward integration, Managing commodity price volatility, and Manage ad hoc spend

Supplier selection criteria

Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, Acceptance criteria, and Evaluation criteria

Category management scope

Top-line growth, Scalability of inputs, Category innovations, Demand forecasting and governance, Supply base rationalization, Cost savings, Reduction of TCO, Customer retention, Minimalization of ad hoc purchases, Green initiatives, Supply assurance, and Adherence to regulatory nuances

Top suppliers

Thermo Fisher Scientific, Danaher, Avantor, Merck, Sartorius, PerkinElmer, Eppendorf, DWK Life Sciences, Bio-Rad Laboratories, and Greiner Bio One International

Market dynamics

Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years.

Customization scope

We can create customized sourcing/procurement reports with specific requirements for your business.

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Lab Consumables Procurement

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            INFORMATION SOURCES

                            Primary sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            Lab Consumables Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026
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                            The lab consumables procurement market will grow at a CAGR of about 4.94% during 2020-2024.
                            During 2020-2024, the lab consumables procurement market will register an incremental spend of about 3.
                            Thermo Fisher Scientific Inc., Danaher Corp., Avantor Inc., Merck KGaA, Eppendorf AG, Sartorius AG, PerkinElmer Inc., DWK Life Sciences GmbH, Bio-Rad Laboratories Inc., and Greiner Bio One International GmbH are some of the prominent suppliers in lab consumables market.
                            Volume-based pricing, unit-based pricing, and cost-plus pricing are the widely adopted pricing models in lab consumables procurement.
                            During the forecast period, the price for lab consumables procurement will increase by 5%-7%.