Biological Safety Cabinet Market Highlights
The 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.
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.
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Global Biological Safety Cabinet Market 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.
Biological Safety Cabinet Market Key players:
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.
Regional Analysis Biological Safety Cabinet Market:
The Americas dominates the global market for biological safety cabinets. The presence of a well-developed healthcare sector and major market players such as Thermo Fisher Scientific, Air Science, and others within the region drive the market within the region. According to the International Trade Administration in 2016, the U.S. pharmaceutical industry added an estimated worth of USD 790 billion to the economy in 2014. Such expanding pharmaceutical sector provides suitable backgrounds for the market to grow by increasing the exploitation of biosafety cabinets in R&D and quality control processes, besides others.
Following the similar trends in 2017, Europe stood second in the biological safety cabinet market. 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. Some of the major factors influencing the growth of the market are exponential growth and support of the government for biotechnology and research within the region. According to the Indian Brand Equity Foundation in 2017, India’s biotechnology industry is estimated to reach USD 100 billion by 2025 from USD 11 billion in 2016. 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.
Major Table of Content For Biological Safety Cabinet Market Research Report – Forecast to 2023:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
TOC Continued…!
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