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Culture Media Market Procurement Intelligence Report | Increase in Raw Material Expenses Will Inflate Suppliers’ OPEX

January 8, 2020 GMT

LONDON--(BUSINESS WIRE)--Jan 8, 2020--

SpendEdge has been monitoring the global culture media market and the market is poised to experience spend growth of more than USD 3 billion between 2019-2024 at a CAGR of over 8% during the forecast period. Request Free Sample Pages.

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Read the 130-page research report with TOC and LOE on “The Global Culture Media Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”

Spend growth in the culture media market will be directly proportional to the growth of the biotechnology industry during the forecast period. This industry will observe an increase in the investments done in livestock gene mapping and the development of improved crop varieties that are tolerant of pests and diseases. This will continue to create an exponential requirement for culture media across the geographies during the forecast period.

The extensive R&D activities conducted in the biotechnology industry will drive the growth prospects for culture media suppliers in the US market. Favorable government policies are resulting in the sanction of more funds to conduct R&D activities that are aimed at developing new medicines. This will have a positive impact on spend growth in the culture media market.

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Insights into the market price trends

What are the strategies to adopt to optimize procurement spend in this market?

Conduct should-cost modeling

Buyers are advised to conduct should-cost modeling that encompasses all the raw materials and costs involved in the production of culture media. This will enable buyers to understand all the costs incurred by suppliers in the category production. Such an understanding will give buyers the necessary insights required to develop their price negotiation strategies. In the event of a decline in the price of raw materials, buyers can negotiate with suppliers to reduce category prices and save up to 10% on procurement costs.

Structured monitoring of raw material prices

Buyers can monitor the market dynamics of raw materials as most of these inputs will face supply shortages and are derived from crude oil. This can help buyers to calculate the actual cost of culture media manufacturing. Thus, by such monitoring of prices and developing appropriate procurement strategies, buyers can effectively negotiate category prices with their suppliers.

Buy 1 report and get the second for 50% off. Buy 2 reports and get the third for free. Download the free sample of this report on the culture media market.

Some of the key topics covered in this report are:

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About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20200108005339/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: CHEMICALS/PLASTICS HEALTH MANUFACTURING AGRICULTURE NATURAL RESOURCES BIOTECHNOLOGY

SOURCE: SpendEdge

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PUB: 01/08/2020 11:00 AM/DISC: 01/08/2020 11:00 AM

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