Next-generation equipment promises researchers faster time to results, higher throughput, or increased multiplexing that can deliver deeper insights into precious sample material. But new equipment comes at a price and purchasing the very latest off-the-shelf model may not always be an option. A greener and more cost-effective way of updating the lab is to bring in equipment that has already been used. Across the world, life science organizations are sitting on billions of dollars’ worth of surplus equipment that may simply be held in storage or, worse still, be destined to become landfill. Here, we explain why researchers have historically been reluctant to purchase used equipment, before noting the advantages that doing so can offer. We also highlight the value of partnering with a surplus asset management provider to streamline the process of buying or selling used equipment while avoiding any associated risk.
A typical piece of lab equipment has a useful life of approximately 3–7 years from when it is first installed. Over that time, it depreciates to around 10% of its original value, and may ultimately be superseded by a newer model offering enhanced features and benefits. Researchers then face two choices—they may either purchase a brand-new substitute, or they may replace the existing equipment with equipment that another organization no longer needs. A main barrier to the latter approach is that most labs don’t know what to do with their old equipment, meaning it is often placed into storage before eventually being thrown away. Not only is this a waste of the initial investment, but it is also bad for the planet.
Factors that have historically put researchers off buying used equipment include doubt over the condition of the product or the integrity of the seller, and the likelihood of the manufacturer’s warranty being non-transferrable or having expired. However, in recent years, a growing dissatisfaction with the prevalent disposable economy has led many to appreciate the benefits that used equipment can offer. As well as having a considerably lower price tag, equipment that has already been in circulation can represent a major improvement on existing instrumentation, even if the pre-used product in question is not the very latest model available. A further advantage of buying used equipment is that doing so helps reduce the environmental impact of manufacturing, waste, and pollution—an important consideration as the life science industry strives to become more sustainable.
Unlike the established cradle-to-grave lifecycle, where equipment is acquired, used, maintained, and then disposed of, a circular economy promises to dramatically extend the useful life of essential pieces of equipment. Within a circular economy, surplus equipment from regular operations, or from mergers and acquisitions, is instead redeployed—either via transfer to a new user or through harvesting its useful parts. Where the equipment will continue to perform its original role, servicing or refurbishment can be fundamental in giving it a new lease of life. The ultimate goal of a circular economy is to make landfill a last resort, ensuring that researchers get the most out of their initial investment while at the same time maximizing productivity and preserving the planet’s resources.
A surplus asset management provider can be a key enabler for life science companies looking to reuse or redistribute laboratory equipment without increasing the burden on internal resources. Attributes to look for in a potential partner include whether white glove removal of items and subsequent storage are available, and whether testing and valuation are offered. It is also worth finding out how the provider helps labs to achieve the most sustainable outcomes. For example, do they employ a multifaceted disposition strategy that provides options such as donating, selling on a secondary market, parts harvesting, or redeploying within the original organization? Where a surplus asset management provider is experienced in both lab transfers and site closures, they will likely employ modern technology to streamline redeployment of equipment across the globe. And where an up-to-date online inventory is available, this allows prospective buyers to quickly and easily search for equipment in real-time while also ensuring traceability.
REUZEit® is an industry leader in equipment redistribution and redeployment. To learn how your organization can be part of the REUZEit® network and the future circular economy, visit reuzeit.com
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