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06

Dec-2021

Biological Safety Cabinets Market Size To Grow USD 240.58 Mn By 2026

Global Biological Safety Cabinets Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, End User & Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Industry Forecast (2021 to 2026)

As per our research report, the global biological safety cabinets market size is forecasted to be growing at a CAGR of 8.24% from 2021 to 2026 and was worth USD 161.93 million in 2021.

Due to COVID-19, sudden changes in the world economy have affected several industries, and the reduction of production units has created enormous uncertainty in today’s world. Such a condition prompted surveys and vaccinations against deadly viruses and several organizations have increased their research and research-related activities to combat this infection. As a result, there has been an increased market demand for biological safety cabinets. COVID samples are processed in laboratories that require significant protection for contamination during the testing process. In addition, pharmaceutical manufacturers also use diagnostic laboratories to check the microbiological quality of drugs. The current COVID-19 pandemic and several other viral infections are expected to increase the overall growth of this market.

The global biological safety cabinet market has seen significant changes over the past several years, in which automation is adopted in laboratories for sample storage, transport, and preparation. A remarkable transformation is observed in the market as a high level of human participation is now reduced through automation with the added benefit of cost reduction. In addition, increased automation has helped increase the demand for automatic medical devices, which has also improved the conditions that lead to contamination and reduced the risk of infection.

Factors such as the increased risk of foreign agents entering the samples and a higher probability of contamination by various infections mandate a higher level of protection. According to the World Health Organization (WHO), in 2017, 28.6% of the global disease burden was due to communicable diseases. In 2018, around 10 million people contracted tuberculosis (TB), including 5.78 million men, 3.28 million women, and 1.18 million children. The increased risk of communicable diseases and pandemics has led to biotechnology and pharmaceutical companies' continuous research and development activities to provide more and better solutions. The World Health Organization has reported that infectious diseases are likely responsible for the deaths of more than 32 million people each year. According to a new report from the Centres for Disease Control and Prevention (CDC), the number of people with ticks and fleas, Zika, mosquitoes, chikungunya, avian flu, Lyme disease, and others tripled between 2005 and 2017. Additionally, in 2018 the UK Innovation Agency funded over £ 12.6 million to enable the fusion of technologies in the life sciences and health sector. Other factors such as favorable government policies with adequate clinical trials, the rapid growth in the quantity of biologics, and the arrival of several new innovative players are likely to impact the global biological safety cabinet market positively.

On the other hand, the high cost of the products, installation, and maintenance of biological safety cabinets coupled with the availability of alternative options are expected to limit the growth rate of the global biological safety cabinets market.

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KEY MARKET INSIGHTS:

  • Based on the type, the Class II type of biological safety cabinets is projected to grow at the highest CAGR during the analysis period. The segmental growth can be attributed to the high level of protection these cabinets offer against infectious agents and the increase in biologicals.
  • Based on end-user, the pharmaceuticals and biopharmaceuticals segment is projected to register the highest CAGR during the forecast period. This is mainly due to the increasing number of research and development activities and the need to ensure the safety of laboratory personnel.
  • Based on the region, regional markets in North America, Asia-Pacific, and Europe are significant shareholders and are predicted to remain dominant in the years to come. There is a significant increase in biomedical research and R&D by pharmaceutical companies in North America, making it a more significant contributor to the biological safety cabinets market. Factors anticipated to support the North American regional market include increasing stem cell research, growing government contribution, investments for research-based studies in the U.S., and a focus on protein drug-based research and development in Canada.
  • With the efforts of automation and stiff competition between small and large players, it is projected that the biological safety cabinet market will see new avenues opening up. The market may go through a phase of solid competition due to the launch of new products, the updating of old products, and the integration of newer applications into various product offerings. As a result, the market may continue to experience a higher level of competition, with an increasing number of players focusing on securing a more significant market share.
  • Thermo Fisher Scientific (US), Esco Micro (Singapore), Labconco (US), The Baker Company (US), Kewaunee Scientific (US), NuAire (US), Germfree Laboratories (US), EUROCLONE (Italy), Cruma (Spain), Air Science (US), Berner International (Germany) and BIOBASE (China) are some of the noteworthy players in the global biological safety cabinets market.

The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/biological-safety-cabinets-market/customization

MARKET SEGMENTATION:

By Product Type:

  • Class I
  • Class II
    • Class II Type A
    • Class II Type B
  • Class III

By End-User:

  • Pharmaceutical and Biopharmaceutical Companies
  • Diagnostics & Testing Laboratories
  • Academic & Research Organizations

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
Automotive

WRITTEN BY: Market Data Forecast

Market Data Forecast