(PharmaNewsWire.Com, October 26, 2020 ) Growth in the biological safety cabinets market is mainly driven by factors such as favorable regulations, increased risk of pandemics and communicable diseases, and pharmaceutical companies, and rapid growth in the number of biologics.
The biological safety cabinets market is projected to reach USD 205.9 Million by 2022 from USD 144.3 Million in 2017, at a CAGR of 7.4% during the forecast period.
Market is segmented into Class I, Class II, and Class III biological safety cabinets. The Class II biological safety cabinets market is expected to grow at the highest CAGR during the forecast period. The primary reason for this is the high level of protection offered by these cabinets against infectious agents and the increase in the number of biologics used to treat various diseases.
The global biological safety cabinets market is categorized on the basis of end users into pharmaceutical & biopharmaceutical companies, diagnostic and testing laboratories, and academic & research institutions.
The highest CAGR during the forecast period is likely to be registered by the pharmaceutical & biopharmaceutical companies segment. This is primarily due to the increasing number of research and development activities and the need to ensure the safety of laboratory personnel.
The development of efficient and reliable alternatives to biological safety cabinets such as the compounding isolators pose a major restraint to the growth of the global biological safety cabinets market. In addition, the high cost of the biological safety cabinets limits the uptake of these systems and is likely to restrain the market to a certain extent.
Region Covered in Biosafety Cabinet Market
Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. In 2017, North America held the largest share of the market. The large share of the North American segment can be primarily attributed to the increasing biomedical research and R&D by pharmaceutical companies in that region, growing stem cell research, government support for research in the US, and government support for the development of protein drugs in Canada.
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).
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