Scientific lab supply pricing used to be relatively predictable, with modest annual increases. However, as the adage goes, “nothing is constant but change,” and this stability is no longer the norm.
Across the life sciences sector, labs are encountering dramatic pricing fluctuations, some predictable, many not. According to exclusive lab supply trend data from the ZAGENO R&D procurement platform, more than half of supplier portfolios saw price increases in 2024, with spikes of 20% or more in certain categories. Concurrently, some suppliers dropped prices to move excess inventory, making it even harder for R&D procurement teams to forecast spend and evaluate true value.
If your lab supply budget feels harder to manage than ever, you're not alone. Here’s how smart labs are adapting.
Several overlapping trends are fueling the volatility:
This unpredictability makes price comparisons tricky. A quote that looks competitive today could be outdated tomorrow. Add in the variability in shipping costs, minimum order sizes, and fulfillment times, and procurement becomes a moving target.
Here’s what the most effective procurement teams are doing right now to stay ahead.
Even if inflation and tariffs ease, the era of predictable pricing may be behind us. Procurement teams should expect more dynamic pricing models in 2025, especially as suppliers test AI-powered quoting and demand-based pricing tools.
The best way to stay ahead?