Market Research Future (MRFR) has published on the “Global Biosafety Cabinets Market”.
The Biosafety Cabinets Market is estimated to register a CAGR of 7.00% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Biosafety Cabinets Market— Thermo Fisher Scientific (US), Kewaunee Scientific (US), Labconco (US), Esco Micro (Singapore), The Baker Company (US), NuAire (US), Germfree Laboratories (US), Cruma (Spain), Air Science (US), Berner International (US)
Biosafety Cabinets Market Highlights
The global Biosafety Cabinets Market is accounted to register a CAGR of 7.00% during the forecast period and is estimated to reach USD 0.43 billion by 2032.
Biological safety cabinets are becoming more significant as a result of tighter laws and increased worker safety awareness, particularly in laboratories and pharmaceutical production plants. Biological safety cabinets demand a significant initial investment and continuing upkeep. This can be a substantial impediment to its adoption, especially for small research facilities and laboratories with low financial resources. Furthermore, the market for biological safety cabinets is growing as investments in healthcare infrastructure construction increase, resulting in higher global healthcare spending. Strict rules and certification processes for biological safety cabinets can increase compliance costs and lengthen manufacturers' time to market, limiting firm growth, especially for smaller businesses.
Segment Analysis
The global Biosafety Cabinets Market has been segmented based on type and end-user.
The market is segmented into Class I, Class II and Class III based on type. The Class II sector dominated the market in 2023. These systems provide total safety and are frequently used in basic research activities, which has contributed to their rise. In developing nations, this category expansion is fueled by the safe handling of biologically hazardous chemicals; these devices are required and recommended.
The global Biosafety Cabinets Market is divided into three end-user segments: pharmaceutical and biopharmaceutical companies, diagnostic and testing laboratories, and academic research institutes. Pharmaceutical and biotechnology firms generated the most income as a result of increased R&D efforts and medical sector investments in both developed and developing countries.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Biosafety Cabinets Market Research Report
Regional Analysis
The global Biosafety Cabinets Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Biosafety Cabinets Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Biosafety Cabinets Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Biosafety Cabinets Market comprises the Middle East, Africa, and Latin America.
In 2023, North America dominated the market, accounting for 45.80%. The local presence of significant enterprises engaged in substantial research of innovative pharmaceutical candidates for a variety of diseases has helped the BSC market's growth. Furthermore, several biotechnology projects in the United States have helped the region maintain its dominant market position. For example, in March 2023, the US government announced priorities and goals for American biomanufacturing and biotechnology. It comprised a strategy for boosting biosafety and biosecurity in the economy, extending education and training opportunities for the biomanufacturing and biotechnology workforce, and building national biomanufacturing facilities, among other initiatives.
Moreover, Europe's biological safety cabinet market has the second-largest market share as a consequence of increased government funding and favorable actions to promote fundamental research, which promotes market growth. Furthermore, the German market for biological safety cabinets had the biggest market share, while the UK market for biological safety cabinets grew the quickest in Europe.
Furthermore, the market for biological safety cabinets in Asia Pacific is predicted to grow significantly. Ongoing drug discovery studies, private-public collaboration, and government initiatives are also expected to drive the Asian biological safety cabinets market. For example, in December 2023, WHO announced that it would collaborate with the Ministry of Health and Population (MoHP) and the Country Office for Nepal to give training on fundamental BSC certification methods to encourage trained professionals among in-country certifiers.
Furthermore, the rest of the world's Biosafety Cabinet Market is divided into the Middle East, Africa, and Latin America. During the projection period, the rising number of compounds undergoing clinical trial studies and ramping up R&D, together with the expanding trend of smart laboratories, will generate numerous opportunities for the Middle East, Africa, and Latin America biosafety cabinet market.
Key Findings of the Study
- The global Biosafety Cabinets Market is expected to reach USD 0.43 billion by 2032, at a CAGR of 7.00% during the forecast period.
- The market for biological safety cabinets in Asia Pacific is predicted to grow at the fastest CAGR because ongoing drug discovery studies, private-public collaboration, and government initiatives are driving the Asian biological safety cabinets market
- Pharmaceutical and biopharmaceutical companies had the highest revenue in 2023 based on end-user.
- Thermo Fisher Scientific (US), Kewaunee Scientific (US), Labconco (US), Esco Micro (Singapore), The Baker Company (US), NuAire (US), Germfree Laboratories (US), Cruma (Spain), Air Science (US), Berner International (US) are the key market players.
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Base Year | 2023 |
Companies Covered | 15 |
Pages | 128 |
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