Arlington, VA (PRWEB) February 27, 2013
Life scientists responding to a recent survey warned Congress and the Administration that the impending budget sequestration could have grave consequences for the future of biological and medical research in the U.S. “The need for well-educated scientists in the U.S. is often discussed as being a priority with both the Administration and Congress. What better way to deter potential researchers than to continuously cut or keep static funding to the life sciences?" asks Kathryn Scott, a Laboratory Manager at a leading university medical center. "Spending needs to be controlled; however, the need to keep the best and brightest in science and technology is greater. Cutting funding will deter those considering careers in the life sciences and those already employed as scientists to look elsewhere for a use of their talents.”
BioInformatics LLC, the premier research and advisory firm in the life science industry, conducted a survey of U.S. academic, government and pharmaceutical scientists to gauge the impact of the planned cutbacks in federal funding for research and their implications for life science tools companies. The free report can be downloaded here:
“69% of U.S. life scientists expect that sequestration will have a ‘substantial impact’ on their research,” says Bill Kelly, President of BioInformatics LLC. “When we asked about the immediate effects they expect as the result of the sequester, scientists across all market segments predict the cutbacks will limit their ability to hire new staff for their labs, obtain new grants and attend scientific conferences.”
Life science tools companies can expect lower sales as a near-term reaction to the budget sequestration. But the situation is unlikely to be as dire as some have feared. “Assuming funding is not restored quickly, surprisingly, only one-quarter of academic and government life science labs say they will consider deferring or postponing capital equipment and/or instrument purchases this year," says Kelly.
Instead, other actions taken as a result of sequestration—such as hiring freezes, lab closings, project cancellations or reductions in new labs—are likely to have a longer lasting effect on the life science market. “Scientific research isn’t something that can be turned on and off – it’s a long term investment,” says Kelly. “Budget uncertainty begins to erode the supporting infrastructure, drives researchers out of the field and threatens the U.S. leadership position in the biosciences.”
ABOUT BIOINFORMATICS LLC
BioInformatics LLC is the premier research and advisory firm serving the life science industry. By leveraging our professional social network of more than 72,000 life scientists, we have supported more than 500 companies and provided insights that lead to better business decisions. Our assignments include assessing the size and attractiveness of markets, optimizing product configurations and pricing, validating corporate acquisitions, measuring customer loyalty, and evaluating brand strength and positioning.