ARLINGTON, Va., Feb. 23 /PRNewswire/ -- A recent survey finds that New England Biolabs is the dominant supplier in the market for restriction enzymes. The growth in genomics research is driving demand for restriction enzymes, which are an essential component of many molecular biology techniques including cloning, genotyping, mutation analysis, and sequencing. For suppliers, the restriction enzyme market is particularly lucrative, as the market continues to grow steadily, while relatively little spending is required for new R&D, process development or marketing. It is also a market where every percentage point of market share growth, or loss, can have a dramatic effect on profitability.
In order to benchmark the market for restriction enzymes, BioInformatics, LLC (http://www.gene2drug.com) -- an Arlington, VA-based market research and consulting firm -- published its latest report, “The Market for Restriction Enzymes: Cutting Out Your Competition.” This report offers the first comprehensive evaluation of all of the key market drivers, and goes beyond the conventional wisdom that price and brand image are the sole factors influencing purchase decisions. The report also presents a detailed brand share analysis based upon usage rates and relative expenditure by market segment and geographic region.
New England Biolabs leads the market across all sectors, however the rankings of other brands vary considerably by sector. The report reveals that academic scientists show a slight preference for restriction enzymes from Promega over Invitrogen and vice versa for industrial respondents. Restriction enzymes from Roche Applied Science and Fermentas have a solid following in Europe while Promega’s restriction enzymes do comparatively well in regions other than North America and Europe.
In general, respondents display a relatively high degree of customer loyalty -- only 8% of respondents have switched suppliers for their restriction enzymes in the past 12 months. Of the small number of respondents who did switch brands, the top two reasons were to attain lower prices and better performance. According to Dr. Tamara Zemlo, Director of Syndicated Research and Analysis, “While it is important to attract new customers in order to increase market share, suppliers should be sure to invest in retaining long-term customers as well. Long-term customers generally prefer variety over favorable pricing and are less influenced by institutional mandates.”
Despite scientists’ inclinations to continue purchasing from the same restriction enzyme supplier year after year, most do not face high barriers to switching brands. The greatest concern scientists expressed was that the money and time invested in developing their current system would be lost if they switched to another supplier. “Nonetheless, suppliers should be encouraged to note that this report demonstrates that with the right tactics, they can attract customers from other suppliers either by using new customer acquisition strategies or a win-back approach for former customers,” stated Dr. Zemlo.
For a complimentary Executive Summary of this report, please visit http://www.gene2drug.com/reports
ABOUT BIOINFORMATICS, LLC
BioInformatics, LLC is a market research firm located in Arlington, Virginia. BioInformatics supports marketing, sales and R&D executives in the life science, medical device and pharmaceutical industries through published research reports, custom research and consulting. BioInformatics sponsors the world’s largest market research panel of scientific customers - The Science Advisory Board (http://www.scienceboard.net) - which consists of more than 28,000 scientists, physicians and other life science and medical professionals from 62 countries who participate in surveys that address emerging technologies, test customer reactions to new product concepts, measure brand awareness and assess advertising effectiveness.
For more information, please contact: Amanda Donathen BioInformatics, LLC 2111 Wilson Blvd., Suite 250 Arlington, VA 22201 703.778.3080 x14 (phone) 703.778.3081 (fax) a.donathen@gene2drug.comhttp://www.gene2drug.com/
BioInformatics, LLC
CONTACT: Amanda Donathen of BioInformatics, LLC, +1-703-778-3080 x14, orfax, +1-703-778-3081, or a.donathen@gene2drug.com
