Biological Safety Cabinet Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3302
Biological Safety Cabinet Market size is expected to grow significantly from 2019 to 2025.
Biological safety cabinet market will experience significant growth owing to increasing number of R&D activities for drug discovery and new drug development. Escalating use of biological safety cabinets for discovering new drugs and treating rare diseases will influence the industry growth positively. As of 2018, around 70 million Indians suffer from at least one rare disorder that will surge the need for developing new therapeutics, thereby stimulating business growth.
Biological safety cabinet industry should grow considerably over the forecast timeframe due to extended use of biological safety cabinets in tissue culture laboratories. Animal tissue culture laboratories are usually equipped with biological safety cabinets as people working in these laboratories handle hazardous waste that may have life-threatening consequences.
High costs of biological safety cabinets can affect the industry growth. Consolidation of biological safety cabinet industry will force key industry players to implement innovations in the cabinets, thereby increasing its cost that may restrain the demand over the forecast period.
Class III biological safety cabinets demand will increase in near future owing to growing R&D activities. Evolution of biological safety cabinets over the years have enabled maximum safety for fellow researchers ensuring zero chances of infection, thereby increasing the devices’ preference.
Pharmaceuticals and biopharmaceutical companies held a momentous share in 2018 and the growth of this segment can be attributed to excessive use of biological safety cabinets in the process of manufacturing new drugs that include harmful components.
U.S. biological safety cabinet market will account for the largest market share owing to favorable regulatory scenario that improves the quality of biological safety cabinets that are being manufactured in the country. Moreover, increasing introduction of biologics will create a hike in the demand of safety cabinets for preventing infections, thereby ensuring considerable market growth.
Some of the key industry players are Thermo Fisher Scientific, Inc., Labconco, Esco Micro, The Baker Company, Kewaunee Scientific, NuAire, Germfree Laboratories, EUROCLONE, Cruma Air Science, Berner International and BIOBASE. These industry players have adopted several strategic initiatives such as new product launch, mergers and acquisitions that will increase their market share globally. For instance, NuAire has introduced Class II biological safety cabinet that minimizes the risks of potential infections. Introduction of such new products will increase company’s revenue.
Biological Safety Cabinet Market by Product Type, 2014-2025 (USD Million)
- Class I
- Class II
- Class III
Biological Safety Cabinet Market by End-use, 2014-2025 (USD Million)
- Pharmaceutical & Biopharmaceutical Companies
- Diagnostic & Testing Laboratories
- Academic & Research Institutes
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Thermo Fisher Scientific, Inc.
- Esco Micro
- The Baker Company
- Kewaunee Scientific
- Germfree Laboratories
- Air Science
- Berner International
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