Global Biological Safety Cabinet Market 2018 Size, Growth Rate, Restraints, Driving Forces 2025
The global biological safety cabinet market is expected to grow from USD 139.08 Million in 2017 to USD 265.37 Million by 2025 at a CAGR of 8.37% during the forecast period from 2018-2025. North market is expected to hold the largest share in the forecast period. Rise. Growing need to handle bio-hazardous products and to ensure safety regulations during procedures are major factors for the growth of the market in the region. Flourishing biotechnology, life science and pharmaceutical industries in the region and need to safeguard personnel and environment are accelerating the demand.
Global Biological Safety Cabinet Market by Type (Class I, Class II, Class III), End User (Pharmaceutical & Biopharmaceutical Companies, Diagnostic and Testing Laboratories, Academic & Research Institutions), and Region‚?? and Global Forecast 2018-2025.
Prominent companies in the industry include ACMAS Technologies, Thermo Fisher Scientific, Labconco, MRC, Erlab, Esco, Kewaunee Scientific, Polypipe, Azbil Telstar, Aztec Microflow, Esco Micro Pte Ltd., NuAire, AirClean Systems, Air Science Berner International, The Baker Company, Bassaire, Cruma, Flow Sciences, Haldeman-Homme, Kewaunee Scientific Germfree Laboratories, EUROCLONE, BIOBASE among others. Significant increase in investments in R&D is leading to increase in number of labs set up which is driving the demand of biological safety cabinates. For instance, in 2017, STERIS Corporation launched the addition of the VHP X10 Biodecontamination Unit to its VHP portfolio of Biodecontamination Units. It is a sealed Class II Type A2 biological safety cabinets which can process multiple cabinets per day. It is designed to meet the challenging requirements of today‚??s research facilities.
Type segment includes Class I, Class II and Class III. The Class I segment is dominating the biological safety cabinet market and is anticipated to grow with the highest CAGR of 10.31% over the forecast period. Increasing requirement to safeguard environment from biohazard exposure and reduce human efforts for various processes are driving the growth of the segment. Biosafety cabinets offer personnel protection, environmental protection and product protection. End user segment is divided into segments such as pharmaceutical & biopharmaceutical companies, diagnostic & testing laboratories, academic & research institution. The pharmaceutical & biopharmaceutical companies based segment held the largest market in 2017. Increasing demand for safety cabinets during drug development and the need to ensure the safety of laboratory personnel are the key factors to drive the demand of the segment.
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Increasing investments in life sciences and increasing investments in R&D initiatives in research, academia and industrial applications to introduce novel products in the market and handling of critical and bio-hazardous elements are some of the factors for the growth of the market. The high cost of biological safety cabinets and presence of alternative containment cabinets may hamper the growth of market. However, demand of new drug delivery systems, new formulations combined with innovation and developments from emerging economies are boosting the growth of the market in coming years.
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