The biotech industry grew by almost 7% in the first decade of the century – this, according to the U.S. Department of Commerce. As a result, a growing number of firms are entering the market to fill the growing need for laboratory equipment. In addition, many independent resellers are utilizing online platforms like Amazon and eBay.
Unfortunately, increased sources of used lab equipment have left the space plagued by “dirty dealers”. Resellers of lab equipment have been known to burn their share of bootstrapping scientists. Sometimes, dealers with little electrical or scientific background simply “shine up and plug in” expensive machines (just to make sure the lights come on) before sending the equipment out the door in hopes of a quick profit.
Even more unfortunate, these “used car types” of dealers usually prey on smaller laboratories which have limited funding. When setting up a lab, new equipment costs can run from half a million to several million dollars. Some pieces – such as new machines that are crucial in biochemistry – can fetch over $150,000. The shady dealers out there will resell them for around $30,000 – and not really guarantee that they even work!
When it comes to laboratory needs, the reality is that the smaller labs can not survive without the used lab equipment space. Prices usually range around half of that of retail, and properly refurbished equipment can run well for years. BaneBio is proud to not only offer affordable prices, but we are also pleased to assist our customers with equipment acquisition and consulting, financing options, repair and testing, and logistics management and appraisals.
In an industry with some “dirty” players, BaneBio is proud to stand out as a trusted source for a wide variety of laboratories. From start-ups to large pharmaceutical and biotech companies, and from universities and colleges to hospitals,BaneBio is trusted not only in the United States, but also around the world. We have built our customer base by providing high quality products with matching service, and we look forward to maintaining our standard of excellence for the years to come.