GEN Readers Confident Biotech Tool Companies Will Survive Through Consolidation
Biotechnology firms developing tools and technologies will survive the slowdown in demand through consolidation, an overwhelming majority of GEN readers believe. As much as 70.4% of voters said that will be how these companies address reduced demand from the academic segment of their customers and portions of the industry. On the other side of the divide, 4.8% said this strategy would not work, while 14.8% were undecided.
Those that are performing well despite the downturn have a varied portfolio that includes instrumentation, consumables, and services. While the global contract research organization market is expected to grow at a compound annual growth rate of 10.5% until 2017, according to a Frost & Sullivan report, conditions look challenging at best for vendors dependent on installation of new systems.