Outsourcing demand boosts analytical lab market
Outsourcing has now drawn in the analytical laboratory market and over the next few years this area is expected to keep growning.
"According to a report published by Frost & Sullivan, the revenue generated by the analytical services market in the US was $603.1m (€471.8m) in 2005, a 2.9 per cent increase from the previous year, and is estimated to reach $743.3m in 2012."
The outsourcing of laboratory services to contract research organisations (CROs) and small laboratories to reduce costs by pharmaceutical companies is what is causing the increase in this field.
"Indeed, the escalating cost of running a laboratory and maintaining cost has become an important factor under consideration by many companies, the report said."
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"According to a report published by Frost & Sullivan, the revenue generated by the analytical services market in the US was $603.1m (€471.8m) in 2005, a 2.9 per cent increase from the previous year, and is estimated to reach $743.3m in 2012."
The outsourcing of laboratory services to contract research organisations (CROs) and small laboratories to reduce costs by pharmaceutical companies is what is causing the increase in this field.
"Indeed, the escalating cost of running a laboratory and maintaining cost has become an important factor under consideration by many companies, the report said."
To view the full article click here
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