Running a lab is not cheap. Experts estimate that operational costs can range anywhere from $10,000 to $40,000 per day to run a biotech and as much as $100,000 per day for some pharmaceuticals. A huge component of these costs are lab supplies, specifically the preclinical R&D lab supply space with a market size of around $60 billion. Our Q3 2021 analysis of customer data identified three key insights into the life sciences procurement process that can be used to achieve significant savings.
“Requests coming from scientists have not changed, they are looking for availability, quality, and speed. Yet the technology is evolving and now we know that we can look into solutions like ZAGENO for quick turnaround of the products and still realize savings”, shared Marc Casals, Head of R&D Procurement for UCB Pharma. With supply chain disruptions promising to get worse before getting better, the R&D procurement process must incorporate available tools to gain much needed price transparency while also managing tens of thousands of necessary SKUs.