WASHINGTON, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The Global Biological Safety Cabinet Market is valued at USD 176.5 Million in 2021 and is projected to reach a value of USD 278.5 Million by 2028 at a CAGR (Compound Annual Growth Rate) of 7.9% over the forecast period 2022-2028.
One of the most significant economic areas is the Biological Safety Cabinet business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers and their current situation and future prospects. It also details the global drivers of the demand for Biological Safety Cabinet, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated accelerating the Biological Safety Cabinet Market growth over the forecast period. The growing worry about the global spread of pandemics and other viral diseases has helped drive demand for Biological Safety Cabinets. Epidemics and dangerous illnesses are increasing at an alarming rate today. However, as chronic disease prevalence is also rising, medication producers are increasing output in response to the growing demand for their products. These factors can be largely blamed for how the market for Biological Safety Cabinets has grown.
We forecast that the pharmaceutical and biotechnology category in Biological Safety Cabinet Market sales will account for more than 30% of total sales by 2028. The market for Biological Safety Cabinets will rise faster thanks to the expanding biotechnology and pharmaceutical sectors. The market for Biological Safety Cabinets is becoming increasingly popular due to attracting investment in the healthcare and life sciences sectors. For diverse quality control methods, R&D activities, and other uses, there are numerous Biological Safety Cabinets used in the pharmaceutical and biotechnology industries.
North America region dominates the marke tthroughout the projection period. This is mostly attributable to reputable healthcare businesses, robust support for R&D initiatives, a solid foundation for immunization and demography centers, and the increased incidence of epidemics. Additionally, the region's rapid adoption of cutting-edge technology and the rising prevalence of chronic diseases support regional market expansion.
Top Players in the Global Biological Safety Cabinet Market
- Thermo Fisher Scientific Inc. (US)
- Labconco Corporation (US)
- NuAire Inc. (US)
- The Baker Company Inc. (US)
- Azbil Telstar (Spain)
- Jinan Biobase Biotech Co. Ltd. (China)
- Germfree Laboratories Inc. (US)
- Air Science Inc. (US)
- Haier Biomedical (UK)
- Cruma S.A. (Spain)
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Market Dynamics
Increase in R&D expected to fuel the growth of Biological Safety Cabinets Market
Due to the modernization of laboratory equipment processes and reagents, there have been major improvements in R&D over time that will impact the market for Biological Safety Cabinets soon. The proliferation of new and enhanced setups to provide precise findings with significant use of innovation is a result of the development of medical facilities. To save time and money, automation is widely used in laboratories for various tasks such as storage, characterization methods, sampling movement, and machine movement.
Developed regions are major growth engines of the Biological Safety Cabinets Market
Globally, there are numerous geographic segments within the market for Biological Safety Cabinets, including the United States, Latin America, Europe, the Mid East, Africa, and the Southeast. North America is the largest market for lab equipment, followed by North America, Latin America, and the senior population. This market leadership is attributed to North America's superior healthcare facilities, high economic development, and the rapid growth of the life sciences sector.
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Recent Development
- May 2021, Labconco has launched Purifier Axiom Biosafety Cabinet. The Axiom biosafety cabinets have upgraded the MyLogic OS operating system and enhanced their legendary safety features, such as Active Protection Protocol (APP) for the Axiom and Omni-Flex.
- April 2021, Thermofisher Scientific has launched Thermo Scientific 1300 Series Class II, Type A2 Biological Safety Cabinet Packages. The Package includes a cabinet; manual, adjustable height stand; factory-installed UV light; and one set of armrests.
Top Trends in Global Biological Safety Cabinet Market
- One Trend That Vantage Market Research (VMR) expects to see in the Biological Safety Cabinet industry is the presence of many players worldwide. Because of the existence of numerous manufacturers worldwide, the market for Biological Safety Cabinets is very fragmented, which has led to a highly competitive landscape. The market for Biological Safety Cabinets is anticipated to remain competitive and provide companies with significant market share opportunities. Biological Safety Cabinets have undergone a few improvements, including reduced noise and improved designs.
- Another trend that VMR predicts will continue in the Biological Safety Cabinet industry is the rise in the prevalence rate of infectious diseases. The market need for Biological Safety Cabinets will further increase due to the rising lifetime prevalence of infectious diseases. The most frequent reasons for illness outbreaks include pathogens spread through contact with people or animals, the environment, or other media. Serious infectious illnesses have recently appeared in a community and are expanding rapidly.
Top Report Findings
- Based on Product Types, most of the Biological Safety Cabinet Market's revenue is controlled by the class II category because these systems offer total protection and are frequently employed in fundamental research projects. The Class II biosafety cabinet is mostly used for tasks requiring a sterile work area, such as collecting pathogenic blood specimens.
- Based on End Users, the Pharmaceutical & Biotechnology category controls most of the Biological Safety Cabinet Market's revenue. The pharmaceutical and biotechnology segment is primarily driven by advances in innovation goods, expanding R&D activity, and rising disposable income in the life and health sciences industries.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Biological Safety Cabinet Market Forecast Report (2022-2028).
Top 10 Players Generates More Than 45% of the Global Biological Safety Cabinet Market Revenue
The report also found that the largest players in the Biological Safety Cabinet Market are technology providers such as Thermo Fisher Scientific Inc. (US), Labconco Corporation (US), NuAire Inc. (US), The Baker Company Inc., Azbil Telstar (Spain). These companies are expected to benefit from increased demand for their products and services and growing investments in new products. Other major players include Jinan Biobase Biotech Co. Ltd. (China), Germfree Laboratories Inc. (US), Air Science Inc. (US), Haier Biomedical (UK), Cruma S.A. (Spain). As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Pharmaceutical and Biotechnology Category in Biological Safety Cabinet Market To Generate Over 30% Revenue
Biological Safety Cabinet are an expensive investment. Vantage Market Research has analyzed the market for Biological Safety Cabinet to understand its current state and potential future growth factors. For better understanding, based on the end users, the Biological Safety Cabinet Market is divided into Pharmaceutical & Biopharmaceutical Companies, Diagnostic & Testing Laboratories, and Academic Research Institutes.
During the forecast period, the market for Biological Safety Cabinets is anticipated to experience the highest CAGR for the Pharmaceutical & Biotechnology category. The Pharmaceutical & Biotechnology industries depend on the microbiology quality of pharmaceuticals or biologics for efficacy, and patient safety since the microbial invasion of drugs negatively impacts client health in terms of hospitalization and fatalities as well as long-term negative effects. Pharma and biopharma enterprises require a strong R&D facility, which necessitates the employment of cutting-edge facilities and technology.
On the other hand, the academic research instates category is anticipated to grow significantly over the forecast period. The life sciences are seeing more research, enhancing the commercialization of the Biological Safety Cabinet. Utilizing techniques from the biological sciences, like tissue culture and microbial investigations, researchers can study microbes, vegetables, and vertebrates, including humans.
Global Biological Safety Cabinet Market Segmentation
By Type
- Class I
- Class II
- Class III
By End User
- Pharmaceutical and Biopharmaceutical Companies
- Diagnostic and Testing Laboratories
- Academic Research Institutes
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Regional Analysis
- North America led the Biological Safety Cabinet Market in 2021 with a share of 37.4%. The rise in the number of biotechnology and pharmaceutical industries, along with the increasing awareness about biosafety among researchers, is driving the growth of the market in this region.
- Europe is expected to be the second-largest market for Biological Safety Cabinets during the forecast period. The increasing demand for these cabinets from the food and beverage industry is driving the growth of the market in this region.
- The Asia-Pacific region is expected to witness the highest growth rate during the forecast period. The factors such as rising research and development activities in the biotechnology and pharmaceutical industries, and increasing government support for biosafety research are expected to drive market growth in this region.
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 176.5 Million |
| Revenue Forecast by 2028 | USD 278.5 Million |
| CAGR | 7.9% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Thermo Fisher Scientific Inc., Labconco Corporation, NuAire Inc., The Baker Company Inc., Azbil Telstar, Jinan Biobase Biotech Co. Ltd., Germfree Laboratories Inc., Air Science Inc., Haier Biomedical, Cruma S.A. |
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