From 2022 to 2027, the global biological safety cabinets market size is predicted to grow at a CAGR of 8.24%, reaching USD 161.93 million in 2022 and USD 240.58 million in 2027.
COVID-19 has affected several companies and industries. Widespread uncertainty has resulted from abrupt changes in the global economy and a drop in production units. Researchers and vaccinations against deadly viruses have been produced due to this predicament. Several organizations have increased their investment in research and research-related activities. The market for biological safety cabinets has increased in prominence due to these challenges. COVID-19 samples are processed in laboratories, requiring a high level of security for people taking part in the tests. Such factors enhance the overall growth of the biological safety cabinet market during the pandemic. Diagnostic labs are often used by pharmaceutical businesses to assess the microbiological quality of their products. The widespread pandemic and escalating viral illnesses have aided the overall growth of the global biological safety cabinets market.
The demand for biosafety cabinets has risen dramatically in the region due to the COVID-19 pandemic. The objective of healthcare is to save lives and run as many tests as possible each day to maximize diagnosis and treat the disease. Furthermore, the Centres for Disease Control and Prevention (CDC) and the World Health Organization (WHO) require live sample testing in a controlled environment, increasing the demand for biosafety cabinets in North America. In the Asia Pacific, the coronavirus infection is expected to have a negative impact on the biosafety cabinet sector. The growth of the biosafety cabinets market in the area is expected to be hindered by interrupted supply chain operations, reliance on developed countries, and limited use of equipment.
One of the key factors driving the expansion of the global biological safety cabinets market is the growing threat of pandemics and viral diseases.
In recent years, infectious diseases and pandemics have become more widespread. On the other hand, chronic sickness is on the rise, and pharmaceutical companies are responding by increasing output to meet demand, which is estimated to accelerate the market’s growth rate. In addition, the rising prevalence of chronic diseases including cancer, respiratory issues, and Alzheimer’s disease has motivated more study, resulting in a higher demand for more safety equipment. Additionally, favorable rules stimulate biological safety cabinets in the healthcare business, which contributes to the market’s growth.
The microbiological purity of medications is crucial for their efficacy and patient safety, so pharmaceutical companies emphasize it. A set of rules and regulations governs quality control. Microbial contamination of the medicine could endanger patients’ health and lead to long-term repercussions such as cancer or other health issues. These factors make the expansion of the industry a viable prospect. The development in R&D activities of biopharmaceutical and pharmaceutical firms, the rapid growth of biologics, the increase in healthcare infrastructure investment in developing economies, and the increase in life sciences are other key factors driving the biological safety cabinets market. In addition, the biological safety cabinets market is expected to benefit from increased research & development activities and improved healthcare outcomes.
The World Health Organization (WHO) estimates that infectious diseases caused 28 percent of worldwide disease burden in 2017. Furthermore, the UK’s Innovation Agency invested approximately 12 million pounds in the health and life sciences sector in 2018. The other primary driving factors in the biological safety cabinet market are the rising risk of infectious and pandemic diseases and increased research and development activities in biotechnology and pharmaceutical firms.
A research group has opened a cabinet in the year 2020 to evaluate COVID samples and other virus-containing materials. Preclinical and clinical trials are conducted in labs with the highest level of security, thanks to the restricted access cabinet.
On the other hand, increasing cabinet setup and production costs and frequent cabinet maintenance need concerted efforts and considerable investments. These are the major impediments to the market’s growth. Acceptance of the product on the market is also seen as a barrier to the market’s overall expansion. Constraints and restrictions governing the usage of UV lamps in safety cabinets are also considered a significant impediment to the market’s growth. Alternative containment cabinets and the high cost of biological safety cabinets are significant problems expected to hamper market growth and represent an additional obstacle to the global biological safety cabinets market’s expansion.
In recent years, the growing tendency of compounding isolators has hampered the expansion of the biological safety cabinet market. The compounding isolator can continually supply higher air quality and uncompromised isolation; the isolators’ superior quality and performance are currently regarded competitors for market growth.
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KEY MARKET INSIGHTS:
- Based on the product type, the class II segment dominated the global biological safety cabinet market in 2020. The segment’s growth can be attributed to an increase in the number of research and development facilities around the world. Furthermore, the rising number of product launches and widespread use of class II biosafety cabinets are likely to create a lucrative opportunity for segment expansion throughout the forecast period.
- Based on the region, North America is predicted to hold a considerable market share in the worldwide biological safety cabinet market due to increased research and development activities in the pharmaceutical and biotechnology industries and the heightened risk of pandemics and communicable illnesses in this region. Furthermore, widespread adoption of technologically advanced biological safety cabinets and a well-developed healthcare sector are propelling the regional market ahead.
- An increasing geriatric population in North America and enhanced medical infrastructure and technology are propelling the market for biological safety cabinets forward. Because of increased research and development activities in the pharmaceutical and biotechnology industries and an increased risk of pandemics and infectious diseases in this region, North America is expected to hold a significant share of the global biological safety cabinet market during the forecast period. In addition, the well-developed healthcare industry and widespread use of technologically improved biological safety cabinets move the regional market forward.
- The Asia Pacific area will have the highest CAGR during the projection period. This is attributable to growing spending by both domestic and international corporations, a vast pool of talented individuals, and governments’ shift toward basic research and entrepreneurship.
- The increasing awareness of biosafety cabinets and the developing research infrastructure are driving the Asia Pacific biosafety cabinets market. Furthermore, rising investments in research and development and vaccine development are expected to provide a profitable opportunity for the Asia Pacific biosafety cabinets market throughout the forecast period. The expensive expense of installing and maintaining biosafety cabinets, on the other hand, is expected to limit market expansion.
- The market for biological safety cabinets is highly fragmented and competitive, with several prominent manufacturers. In terms of market share, the market is currently dominated by a few significant competitors. To expand their footprints in this market, some leading companies have employed various methods such as expansions, agreements, joint ventures, acquisitions, new product launches, collaborations, and others. Thermo Fisher Scientific, Esco Micro, Labconco, The Baker Company, Kewaunee Scientific, NuAire, Germfree Laboratories, Cruma, Air Science, and BIOBASE are the market leaders.
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SEGMENTS COVERED UNDER THIS REPORT:
By Product Type:
- Class I
- Class II
- Class II Type A
- Class II Type B
- Class III
By End-User:
- Pharmaceutical and Biopharmaceutical Companies
- Diagnostics & Testing Laboratories
- Academic & Research Organizations
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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