Growth in the biological safety cabinets market is primarily driven by factors such as favorable regulations driving the use of biological safety cabinets in the healthcare industry, 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.
How much is the Biological Safety Cabinet Market worth ?
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. Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. In 2017, North America held the largest share of the market.
Objectives of the Study
- To define, describe, and forecast the global biological safety cabinet market by type, end user, and region
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast size of market segments with respect to the four key regions – North America, Europe, Asia Pacific, and RoW
- To analyze the market structure and profile key players of the global biological safety cabinets market and comprehensively analyze their core competencies
- To analyze the competitive landscape of the major players operating in the biological safety cabinets market
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The Class II biological safety cabinets segment accounted for the largest share of the market in 2017
On the basis of type, the biological safety cabinets market has been segmented into Class I, Class II, and Class III biological safety cabinets. The Class II biological safety cabinets segment accounted for the largest share of the biological safety cabinet’s market in 2017. The large share and high growth of this segment can primarily be attributed to the high level of protection offered by these cabinets.
Pharmaceutical & biopharmaceutical companies held the largest share of the market in 2017
On the basis of end user, the biological safety cabinet market has been segmented into pharmaceutical & biopharmaceutical companies, diagnostic and testing laboratories, and academic & research institutions. In 2017, the pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the biological safety cabinets market. This segment is also projected to grow at the highest CAGR during the forecast period. The large share and high growth of the market can be attributed to the increasing demand for drug development and the need to ensure the safety of laboratory personnel.
North America to dominate the market in 2017
In 2017, North America accounted for the largest share of the biological safety cabinet market, followed by Europe. The large share of the North American region can be attributed to the increasing biomedical research and R&D by pharmaceutical companies in the region, growing stem cell research, government support for research in the US, and government support for the development of protein drugs in Canada, which increases the need for biological safety cabinets.
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The major market players in the biological safety cabinet 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).