Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Lab Equipment Maintenance Market Currently Estimated at $7.3 Billion, Says Beroe Inc

This image opens in the lightbox

News provided by

Beroe Inc.

09 Oct, 2019, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

RALEIGH, North Carolina, Oct. 9, 2019 /PRNewswire/ -- The global market for lab equipment maintenance is currently growing at a CAGR of 5–6%, according to Beroe Inc., a procurement intelligence firm. Increasing budgetary and cost-saving pressures, along with advancements in maintenance technology, and emphasis on good laboratory practices are driving the growth of the market.

Governments across North America and Europe have not increased Funds/grants for lab equipment maintenance as per expectations in the past five years and research organizations are also becoming less intended towards buying new lab equipment. Emerging countries are popular grounds for clinical trials and local authorities are stressing on good laboratory practices, including Standard Operating Procedures (SOPs) on the operation, calibration, and maintenance of equipment. In developed countries, regulatory authorities are more focused on data security, traceability, and integrity of electronic records.

https://www.beroeinc.com/category-intelligence/lab-equipment-maintenance-market/

Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com

Demands for lab equipment maintenance are present from multiple industries including pharmaceuticals, biotechnology, food and beverage, and chemicals. Mature buyers from the pharma/biotech industry prefer the MVS model, while buyers from the food and beverage industry prefer to have a strong internal maintenance team along with OEMs support. In a competitive financial environment, pharmaceutical companies are focusing on laboratory sustainability. Apposite lab asset management could increase laboratory efficiency and bring opportunities for soft cost savings. Lab equipment requires sophisticated and regularized maintenance.

Maintenance cost for high-end equipment such as mass spectrometer and automation is high, at around 20% of their total cost of ownership. Meanwhile, the maintenance cost for low-end equipment such as cell-based research and material characterization equipment is lower, at around 10% of their total cost of ownership. Buyers are recommended to engage with OEMs for high-end equipment as they have the required experience and technical expertise. Third-party service providers are recommended to maintain low-end equipment, as they only require calibration and minor corrective maintenance over a period.

Key Findings:

  • Lab equipment maintenance suppliers offer services such as asset management, asset management software maintenance, calibration, inventory management, washing, mailroom services, and maintenance of lab chemicals.
  • Technological advancements have made an impact on the market with the use of IT tools enabling proper tracking of laboratory inventory and equipment. Maintenance programs can also be scheduled to increase the uptime of the equipment.
  • MVS providers prefer to target for at least 1,500 hours of maintenance work at a laboratory site to deploy on-site engineers. The typical utilization rate for an on-site engineer is around 80%, compounding to around 1,600–1,700 hours of maintenance work.
  • The most popular sourcing strategy for laboratory maintenance services is regional/site-wise with a typical contract duration of 3–5 years which can then be extended based on the performance during the contract term.
  • Most popular suppliers in the market are Unity Lab Services (Thermo Fisher Scientific), CrossLab Services, (Agilent Technologies), OneSource (PerkinElmer), GE Healthcare, and VWRCATALYST (VWR).

The research methodology adopted for the report included:

  • Experts with twenty years of domain experience
  • Interaction with buyers
  • Inputs from supply chain partners

Most of the large pharma companies (top 20) spend around $4–8 million per site on MVS programs, while total program cost could be in the range of $10–30 million per annum. MVS providers are likely to provide best-in-class quality services at cost-effective pricing. Primarily, CROs are keeping strong internal teams for maintenance and asset management teams because their revenue depends on the number of samples tested, which is directly dependent on the uptime of the equipment.

The report also includes:

Market Analysis:

  • Market Landscape
  • Equipment Maintenance Market
  • Lab Equipment Maintenance Demand
  • Lab Equipment Maintenance by Equipment

Sourcing Landscape:

  • Lab Equipment Maintenance: Multi-Vendor Service
  • Sourcing Best Practices

Sourcing Case Studies:

  • Best Practice Solution Roadmap
  • Case Study: A mid-sized Pharma
  • Case Study: Boehringer Ingelheim Success with MVS Model

Supplier Landscape:

  • MVS Service Providers

About Beroe Inc.:

Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.

To learn more about Beroe Inc., please visit: http://www.beroeinc.com

Media Contact:
Debobrata Hembram
debobrata.hembram@beroe-inc.com

Logo: https://mma.prnewswire.com/media/777512/Beroe_Logo.jpg

Modal title

Also from this source

Beroe Acquires nnamu to Turbocharge Procurement Negotiations with Game Theory and AI

Beroe Acquires nnamu to Turbocharge Procurement Negotiations with Game Theory and AI

Beroe Inc., a global leader in procurement decision intelligence, has acquired nnamu GmbH, a pioneering negotiation technology business that has...

Beroe Pioneers the Future of AI-Powered Procurement Intelligence with Microsoft Copilot Integration

Beroe Pioneers the Future of AI-Powered Procurement Intelligence with Microsoft Copilot Integration

Beroe, a global leader in procurement decision intelligence, has made Abi, its AI-powered procurement assistant, available as an Agent within the...

More Releases From This Source

Explore

STEM (Science, Tech, Engineering, Math)

STEM (Science, Tech, Engineering, Math)

Utilities

Utilities

Medical Equipment

Medical Equipment

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.