Global biological safety cabinet market is expected to register an approximate CAGR of 7.4% during the forecast period owing to the growing biotechnology and pharmaceutical sector and rising investments in the medical sector and life sciences. A majority of the biological safety cabinets are utilized by the pharmaceutical and biotechnology sectors for various quality control processes, R&D practices, and others. In 2017, according to the Biotechnology and Biological Sciences Research Council, the U.K pharmaceutical market is expected to grow with an average annual growth rate of 4 to 7% by 2021. Such trends in the growth of the pharmaceutical sector provide favorable backgrounds for the market, by increasing the demand for biological safety cabinets.
Moreover, increasing investments in life sciences boost the market growth. Recently in 2018, Innovate U.K. funded over 12 million pounds to enable merging technologies in health and life sciences sectors. Life sciences involve a scientific study of microorganisms, plants, and animals including human beings through experimentations and activities such as tissue culturing, microbial studies, and others. These activities are tedious and easily prone to contaminations. The reason for the same can range from the use of contaminated media to improper handling. An easy way to avoid the contamination is the use of biosafety cabinets that provide a sterile platform for such experiments. Therefore, the demand for biological safety cabinets is estimated to increase with the rising investments followed by the growth of life sciences.
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 cost of biological safety cabinets by market players such as Thermo Fisher Scientific is high. It is estimated to range from ~ USD 9,500 to USD 12,000. In the presence of such high price, a reluctance is seen in the market in terms of product acceptance. This is estimated to restrain the market growth during the forecast period.
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.
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.
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