There are many research institutions and workplaces where the cost of the tool isn't really thought about at all. In fact, the cost of Matlab and toolbox fees is a small fraction of a senior scientist/engineer's total compensation.
The main competitor is Python. However, using a general purpose programming language is often too hard for non-programming oriented scientists. They are not able to compile a Python package on Windows, never mind actually package and distribute their work to colleagues. On Windows, if the package isn't in one of the distributions like Anaconda, it may as well not exist.