SOURCE: BioInformatics, LLC

June 04, 2007 15:15 ET

Online Sales of Life Science Products Continue to Grow

ARLINGTON, VA--(Marketwire - June 4, 2007) - A new study by BioInformatics, LLC projects that 34% of products purchased by life scientists this year will be ordered online. Projected growth rates for online spending vary widely depending upon the product category but custom products, biologicals, research/specialty kits, and accessories/replacement parts will see growth in excess of 10%.

"Some of our clients are reporting that half of all their orders are now processed online," says Tamara Zemlo, Ph.D., Director of Syndicated Reports & Analysis at BioInformatics, LLC. "Clearly, effectively using eCommerce has become a major determinant of competitive advantage in the life science market."

BioInformatics, LLC -- an Arlington, VA-based market research and consulting firm -- has published "eCommerce Strategies for the Life Science Market" to provide suppliers with insights into what scientists see as the obstacles to conducting more of their purchases online. Based on the input of almost 1,800 life scientists, this report projects future growth and benchmarks current online ordering statistics, including percent of orders placed online, frequency of online ordering, and average amount spent per online order. Because life science suppliers are making sizable investments in eCommerce, assessing how these expenditures improve business performance will allow suppliers to evaluate the design and execution of their Internet-based strategies.

Life scientists report that the eCommerce tools offered by Sigma-Aldrich and Invitrogen are the market leaders in the online realm, with the majority of life scientists having placed online orders from one or both suppliers. Side-by-side comparisons of 27 life science companies reveal the strategies that distinguish the market's leaders in the online medium, making this report an invaluable resource to any company using the Web to reach the scientific community.

In this report, BioInformatics also introduces the concepts of Product Value Rankings and Customer Value Rankings. Product value rankings are designed to inform suppliers which product categories are more valuable for selling online. The larger the product value score, the more likely it is that customers will make significant purchases from this product category online, either as repeat customers or as high dollar spenders. Likewise, customer value rankings can help identify a supplier's best online customers by key demographic variables.

"As scientists become more accustomed to online ordering -- whether through their personal and/or professional lives -- expectations of what constitutes an optimal eCommerce experience evolves," observes Zemlo. "Suppliers in this market must continue to adapt their existing infrastructure and adjust internal business processes to ensure the long-term success of their eCommerce initiatives."

For a complimentary Executive Summary of this report, please visit http://www.gene2drug.com/report/164/

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 tens of thousands of 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.

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