The report predicts the global Biological Safety Cabinet Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“The biological safety cabinets market projected to grow at a CAGR of 7.4%.”
The biological safety cabinets market is projected to reach USD 205.9 million by 2031 from USD 144.3 million in 2022, at a CAGR of 7.4% during the forecast period. Factors such as favorable regulations, increased risk of pandemics and communicable diseases, increasing number of R&D activities in biotechnological and pharmaceutical companies, and rapid growth in the number of biologics are expected to drive the growth of this market during the forecast period. On the other hand, the high cost of biological safety cabinets and alternative containment cabinets are expected to restrict the growth of the market to a certain extent.
“By end user, pharmaceutical & biopharmaceutical companies segment is expected to grow at the highest CAGR during the forecast period (2022–2031).”
Based on end user, the global biological safety cabinets market is segmented into pharmaceutical & biopharmaceutical companies, diagnostic & testing laboratories, and academic & research institutions. The pharmaceutical & biopharmaceutical companies segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for drug development and the need to ensure the safety of laboratory personnel.
“Asia Pacific to witness the highest growth during the forecast period (2022-2031)”
While North America held the largest share of the market in 2017, Asia Pacific is expected to witness the highest growth during the forecast period. The high growth rate of this region can be primarily attributed to the rising investments by pharmaceutical companies in Asia Pacific countries, rising burden of infectious disease, high growth of the healthcare industry in China; growing pharmaceutical and medical devices industry in Japan; development of bioclusters to boost the biotechnology sector in India; biomedical research in Australia; and increasing pharmaceutical and biotechnology R&D activities in South Korea.
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Break of primary participants was as mentioned below:
- By Company Type – Tier 1–65%, Tier 2–25% and Tier 3–10%
- By Designation – C-level–30%, Director Level–48%, Others–22%
- By Region – North America–48%, Europe–20%, Asia Pacific–25%, Row–7%
The major market players in the biological safety cabinets market include 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).
The report analyzes the biological safety cabinets market and aims at estimating the market size and future growth potential of this market based on various segments such as type, end user, and region. The report also includes the competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the biological safety cabinets market. The report analyzes the market based on type, end user, and region
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the biological safety cabinets market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various biological safety cabinets across regions
- Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the biological safety cabinets market
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