Given the debilitating impact of COVID-19 (Coronavirus) on Biological Safety Cabinet Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Biological Safety Cabinet Market Analysis
Global biological safety cabinet market size is anticipated to grow at a favorable 7.4% CAGR between 2018- 2023, according to the new report by Market Research Future (MRFR). Biological safety cabinets, simply put, are ventilated and enclosed laboratory equipment that offers safety at the time of working with biohazard or contaminated materials. It is generally categorized based on exhaust systems, velocities, airflow pattern, and construction. Biological safety cabinets are equipped with HEPA filters for maintaining the environment’s sterility against biohazard materials.
Various factors are propelling the global biological safety cabinet market growth. According to the new MRFR report, such factors include increasing investments in life sciences and the medical sector, booming pharmaceutical & biotechnology sectors, adoption of innovative research set up products, demand for modernization of laboratories for reducing human efforts, growing research and development activities, and favorable regulations.
On the contrary, high cost and availability of alternatives are factors that may limit the global biological safety cabinet market growth over the forecast period. Besides, the social distancing and lockdown due to the COVID-19 outbreak have resulted in a temporary shutdown of industries that, in turn has impacted the market growth considerably.
Also Read news on: https://www.medgadget.com/2020/08/covid-19-crisis-may-trigger-growth-for-biological-safety-cabinets-market-2020-global-size-swot-analysis-industry-growth-top-key-players-regional-revenue.html
Biological Safety Cabinet Market Key Players
Leading players profiled in the global biological safety cabinet market report include Azbil Telstar (Spain), BIOBASE (China), Berner International (U.S.), Air Science (U.S.), Cruma (Spain), Germfree Laboratories (U.S.), NuAire (U.K), Kewaunee Scientific (U.S.), The Baker Company (U.S.), Esco Micro (Singapore), Labconco (U.S.), and Thermo Fisher Scientific (U.S.).
Biological Safety Cabinet Market Segmentation
The MRFR report gives an inclusive segmental analysis of the global biological safety cabinet market report based on end user, application, and type.
By type, the global biological safety cabinet market is segmented into class I, II, and III. The class II segment is again segmented into class II type A & type B. Of these, the class II segment will lead the market over the forecast period.
By application, the global biological safety cabinet market is segmented into academic, research and development, and industrial.
By end user, the global biological safety cabinet market is segmented into diagnostic & testing laboratories, pharmaceutical & biotechnology companies, and others. Of these, the pharmaceutical and biotechnology companies will dominate the market over the forecast period.
Biological Safety Cabinet Market Regional Analysis
Based on the region, the global biological safety cabinet market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa. Of these, the Americas will spearhead the market over the forecast period. The presence of eminent industry players in the region and well-established healthcare sector, expanding pharmaceutical sector, and the growing elderly population is adding to the region's biological safety cabinet market growth. Additional factors adding market growth include high economic development and surging need for advanced healthcare facilities.
The global biological safety cabinet market in Europe is predicted to hold the second-largest share over the forecast period. The presence of developed economies like Germany, Spain, Italy, and the UK is adding to the global biological safety cabinet market growth in the region.
The global biological safety cabinet market in the Asia Pacific region is predicted to grow at a fast pace over the forecast period. Increasing government support for biotechnology coupled with the burgeoning demand from various emerging economies like Japan, India, and China in pharmaceutical, life-science, and biotechnology industries are adding to the global biological safety cabinet market growth in the region.
The global biological safety cabinet market in the MEA is predicted to have the smallest share over the forecast period for low per capita income and the presence of poor economies in the African region. The market in the Middle East meanwhile will have a major share.
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