Biological Safety Cabinet Industry Landscape
As per the newest report available by Market Research Future on “Biological Safety Cabinets Market 2020” has included report inputs. The market’s growth prospects are estimated to be recorded at a rate of 7.4%. The analysis is recorded, taking into consideration the ongoing COVID 19 outbreak that has affected almost the market worldwide. The growth of the market is estimated to be from 2018 to 2023.
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Biological Safety Cabinet Market Growth Boomers
Biological safety cabinets are enclosed and ventilated laboratory equipment that provides safety while working with the contaminated or biohazard materials. Biological safety cabinets are categorized over airflow patterns, construction, velocities, and exhaust systems. These are equipped with towering efficiency particulate arrestance (HEPA) filters to maintain the sterility of the environment from biohazard materials.
The market is witnessing stupendous growth during ongoing COVID 19 owing to a rise in investments in R&D. This is leading to a course in the number of labs being set up. The escalating need to safeguard agent, product, personnel, and environment from biohazard exposure and cross-contamination during procedures has led to the production of more and more bio-safety cabinets, which lead to a surge in the market.
At the same time, the biological safety cabinets market have applications in pharmaceutical, industrial, clinical and life-science laboratories. Pharmaceuticals and biopharmaceutical companies held a vital share in the year 2019, and the growth of this segment can be attributed to excessive usage of biological safety cabinets in the process of manufacturing new drugs that take account of harmful components. In fact, many e-commerce industries are continuously creating opportunities for laboratory equipment manufacturers with regards to supply and expansion, which is also leading to the market’s growth for the future.
On the contrary, the factor of towering costs of biological safety cabinets can affect the industry growth to a great extent. Consolidation of the biological safety cabinet industry will force key industry players to implement innovations in the cabinets, thus escalating its cost that may restrain the demand over the assessment period. The cost of biological safety cabinets by market players such as Thermo Fisher Scientific is sky-scraping, which is estimated to range from ~ USD 9,500 to USD 12,000.
Biological Safety Cabinet Market Segments Review
The global biological safety cabinet market is studied over the segment of type, application, and end-user.
By the type segment, the market has included class I, class II, and class III. The class II segment has included class II type A and class II type B.
By the application segment, the market is categorized into research and development, industrial, and academic.
By the segment of end-user, the market is included diagnostic and testing laboratories, pharmaceutical and biotechnology companies, and more.
Biological Safety Cabinet Market Regional Front
In this market study, the analysts have estimated the Americas to be the largest market for biological safety cabinet. They are likely to reach close to USD 51 million by the end of 2020. The factors such as hefty investments in research and testing in this region will encourage the prospects for market augmentation until the ending of the forecast period. The market for biological safety cabinet will be a market share of approximately 32% by 2020.
The prevalence of a well-developed healthcare sector and dominant market players such as Thermo Fisher Scientific, Air Science drive the market within the region. As per the International Trade Administration in the year 2016, the U.S. pharmaceutical industry added a probable worth of USD 790 billion to the economy. Such expanding pharmaceutical sector offers suitable backgrounds for the market to cultivate by escalating the exploitation of bio-safety cabinets in R&D and quality control processes.
Following the similar trends in the year 2017, Europe stood second in the biological safety cabinet market. The occurrence of developed economies such as Italy, the U.K, Spain, and Germany within the region further boosts the market.
The Asia Pacific might be the fastest-growing region for the global biological safety cabinet market due to the development of the market are exponential growth and support of the government for biotechnology and research within the region. As per the Indian Brand Equity Foundation in 2017, India’s biotechnology industry is predictable to accomplish USD 100 billion in 2025 from USD 11 billion that was gained in the year 2016.
Biological Safety Cabinet Market Top Players
Top players in the global biological safety cabinet market are Esco Micro (Singapore), Labconco (U.S.), NuAire (U.K), Kewaunee Scientific (U.S.), Air Science (U.S.), Cruma (Spain), BIOBASE (China), Azbil Telstar (Spain), Berner International (U.S.), and others.
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
…TOC Continued
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