Laboratory

Basic Laboratory supply Business

The sale of laboratory equipment: This is the primary source of revenue for most laboratory
equipment supply and service businesses. Businesses in this sector typically sell a wide range of
laboratory equipment, including microscopes, centrifuges, incubators, and other essential tools for
scientific research.
The provision of laboratory services: These services can include sample preparation, testing, and
analysis. In other words, this can be called Application support. It will require a team of highly
trained scientists and technicians who can provide customers with the highest quality of service.
The provision of maintenance and repair services: Laboratory equipment is essential for scientific
research, but it can also be expensive to purchase and maintain. The maintenance and repair
services to help customers keep their laboratory equipment in good working order. These services
can help to extend the lifespan of laboratory equipment and reduce the cost of ownership.

 

Sectors

Private sector

New Laboratory setup (consultation)

Selling of general equipment and specialized equipment

Selling of reagents and consumables

• Product training and Application support

Preventative maintenance and servicing equipment

Public heath

Same as Private sector but with main focus on

HIV (Viral load)

CANCER

NON-COMMUNICABLE DISEASE

MALARIA

TB

HEPATITIS

Providing sustainable, innovative and affordable diagnostic tools to enable them to reach everyone.

Models for instrument sale

Reagent rental is a short-term option that allows the customer to use reagents without having to purchase them the instrument outright. This can be a good option if they need to use a specific reagent for a limited period of time, or if they are not sure if you will need to use the reagent again in the future. The other option for reagent rental is for the company to incorporate the cost of the machine into the reagents used for a period of time. When that time has lapsed the customer has full ownership of the instrument.
Outright purchase is the most expensive option, but it gives them the most control over the instrument. This can be a good option if they plan to use the instrument for a long period of time.
Placement is a similar option to reagent rental, but it typically includes the use of an instrument as well. This can be a good option if the customer needs to use a specific instrument for a limited period of time, or if they are not sure if they will need to use the instrument again in the future.
Instrument lease is a longer-term option that allows them to use an instrument without having to purchase it outright. This can be a good option if they need to use an instrument regularly, or if they are sure that you will need to use the instrument again in the future.
The last two will require the company to invest into buying the machine but it will guarantee them continuous business and growth. The company can upgrade the machine machines to already existing customers and build new customers with refurbished instruments.

 

Marketing strategy

Target your audience: The first step is to identify the target audience. Who are the decision-makers who will be responsible for approving the use of specialized IVD testing
in the public sector? Once we know who the audience is, we can tailor the marketing messages to their specific needs and concerns.
• Highlight the benefits of specialized IVD testing.
• Improved accuracy and reliability of test results
• Reduced turnaround times for test results
• Increased efficiency and productivity
• Improved patient outcomes
• Reduced costs
• Demonstrate the value of specialized IVD testing.
• Partner with key stakeholders: Partnering with key stakeholders, such as healthcare providers, public health officials, and insurance companies, NGOs can help to raise awareness of specialized IVD testing and its benefits.
• Focus on the bottom line: When marketing specialized IVD testing to the public sector, it is important to focus on the bottom line. Show how specialized IVD testing can save
money,

 

RISKS

Regulatory compliance: IVD instruments and services are subject to strict regulatory requirements.
Failure to comply with these requirements can result in fines, penalties, and even criminal charges.
• Product liability: IVD instruments and services can have a significant impact on patient health. If a product is defective or fails to perform as intended, it can lead to serious injury
or death. This can result in product liability lawsuits, which can be costly and timeconsuming.

• Financial risk: The sale of IVD instruments and services can be a risky business. The market for these products is cyclical, and there is always the potential for a product to be
discontinued or replaced by a newer technology. This can lead to financial losses for businesses that sell IVD instruments and services.
• Loss to expiry of reagents.
• Intellectual property risk: IVD instruments and services are often protected by intellectual property rights, such as patents and trademarks. If these rights are infringed, it can lead to legal action, which can be costly and time-consuming.

Customer service risk: IVD instruments and services can be complex and require specialized training and support. If a business is unable to provide adequate customer service, it can lead to customer dissatisfaction and lost sales.

MITIGATING THE RISKS

Do your research: Before entering the market, it is important to do your research and
understand the regulatory requirements, the market, and the risks involved.
• Partnering with a reputable distributor can help to reduce the risks associated with selling IVD
instruments and services. A reputable distributor will have experience in the market and will
be able to provide support and guidance.
• Have a strong customer service program: this can help to reduce customer dissatisfaction and
lost sales. Make sure your customer service representatives are well-trained and able to answer
customer questions and resolve problems quickly and efficiently.