Growing biotechnology and pharmaceutical sectors are expected to drive the market during the forecast period

Pune, India, May 2023 /MRFR Press Release/- Market Research Future published a half-cooked research report on the global biological safety cabinet market.

Market Highlights

Factors such as growing biotechnology and pharmaceutical sectors and rising investments in the medical sector and life sciences are expected to drive the market during the forecast period. However, the high cost of biological safety cabinets and presence of alternative containment cabinets in the market are estimated to restrain the market growth during the forecast period.

The global biological safety cabinet market is expected to grow at a CAGR of 7.60% and to reach USD 191.36 billion during the forecast period.

Segmentation

The global biological safety cabinet market is segmented on the basis of type, application, and end-user.

On the basis of type, the market is segmented into class I, class II, and class III. The class II segment is sub-segmented into class II type A and class II type B.

By application, the market is categorized into industrial, research and development, and academic.

By end-user, the market is categorized into pharmaceutical and biotechnology companies, diagnostic and testing laboratories, and others.

Explore In-depth Details: Biological Safety Cabinet Market Research Report

Regional Analysis

The Americas dominates the global market for biological safety cabinet owing to the presence of a well-developed healthcare sector and major market players within the region. Moreover, an expanding pharmaceutical sector provides suitable backgrounds for the market.

Following the similar, Europe stood second in the biological safety cabinet market, in 2017. Factors such as the presence of developed economies such as the U.K., Italy, Spain, and Germany within the region further boosts the market.  Asia Pacific is estimated to be the fastest growing region for the global biological safety cabinet market. This can be attributed to the rising support of government for biotechnology within the region. On the other hand, the Middle East and Africa holds the least share in the global biological safety cabinet market. The presence of poor economies, and low per capita income, especially within the African region makes the market to lag within the region. A majority of the market share within this region is estimated to be held by the Middle East.

Key Players

Some of the key players in the global biological safety cabinet market are Thermo Fisher Scientific (U.S.), Labconco (U.S.), Esco Micro (Singapore), The Baker Company (U.S.), Kewaunee Scientific (U.S.), NuAire (U.K), Germfree Laboratories (U.S.), Cruma (Spain), Air Science (U.S.), Berner International (U.S.), BIOBASE (China), Azbil Telstar (Spain), and others.