Are you buying more lab equipment than in the past? You’re probably not alone according to the latest Forecast & Analysis report from Frost & Sullivan. Worldwide revenue for all laboratory products reached $36.2 billion in 2010, up 5.4% over last year. That number figures to keep climbing over the next few years as biopharmaceutical products become more prevalent and the Asian markets continue expanding. The United States continues to be the biggest spenders for laboratory products at $15.7 billion, followed closely by the European Union at $14.8 billion. However, for the best market potential we may look to India and China, where growth rates are in the double digits (the U.S. and Europe are only growing around 2-3%). Sadly, the report isn’t all good news. Government laboratories are seeing their budgets frozen or cut due to the weakened economy. As governments in the US and abroad continue to tighten their wallets, these laboratories, which include government-funded universities, are likely going to have less money to spend. While it's certainly understandable considering the tough budget forces most countries are facing, it is a shame to see cuts in this area since the Research & Development that these facilities conduct are an investment in our future welfare. One thing we can take away from this report is that we are lucky in today’s world to be working in a market with steady demand for its output, something none of us should take for granted.