iCrowdNewswire Oct 29, 202010:05 AM ET
Biosafety cabinets are efficient devices that are used for controlling the contamination in laboratories dealing with infectious agents. These devices act as a primary barrier for restricting the escape of biological aerosols in the lab environment. The biosafety cabinets are broadly classified into class I cabinets, class II cabinets, and class III cabinets. The biosafety cabinets market is expected to witness a huge growth due to increasing prevalence of infectious diseases and rising technological advancements in biosafety cabinets. However, high cost involved in the installation and maintenance of biosafety cabinets is likely to restraint the growth of the market during the forecast period.
The biosafety cabinets market was valued at US$ 166.67 million in 2019and is projected to reach US$ 312.90 millionby 2027; it is expected to grow at a CAGR of 8.2%from 2020to 2027.
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Baker, NuAire; Labconco Corporation; Esco Micro Pte Ltd.; GERMFREE; Berner International GmbH; Thermo Fisher Scientific, Inc.; Azbil Telstar; S.L. Diantech Solutions S.L.; and ACMAS Technologies (P) Ltd. are among the leading companies operating in the biosafety cabinets market.
Based on the end user, the global biosafety cabinets market is segmented into diagnostic and testing laboratories, academic and research institutions, pharmaceutical and biopharmaceutical companies, and other end users. The pharmaceutical and biopharmaceutical companiessegment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the forecast period. Certain factors such as rising investments for infrastructure expansion by pharmaceutical and biopharmaceutical companies and rising focus on research collaborations are estimated to drive the segment growth.
The demand for biosafety cabinets has seen a sharp increase in the period of pandemic due to focus on COVID-19 diagnostics. Additionally, the guidelines of healthcare authorities across the world to offer protective environment for healthcare workers as well as researchers are also estimated to drive the market growth over the period. However, implementation of total shut down of businesses in order to contain the viral infection disrupted supply chain operations. These measures impacted the market by certain extent.
Disease outbreaks are usually caused by an infection, transmitted through person-to-person contact, animal-to-person contact, or from the environment or other media. Emerging infectious diseases are infections that have recently appeared within a population and are rapidly increasing. The World Health Organization warned in its 2007 report that infectious diseases are emerging at a rate that has not been seen before. Since 1970s, about 40 infectious diseases have been discovered, including SARS, MERS, Ebola, chikungunya, avian flu, swine flu, zika, and most recently, COVID-19. Moreover, as per CDC estimates, between 2016 and 2017, nearly 30 million people suffered from influenza in the US. Antibiotics techniques, such as vaccinations against influenza; helps reduce the illness by 17% and medical visits and hospitalizations by 18% and 19% respectively. The growing prevalence of Ebola and Zika virus infections is also likely to contribute to the market growth.
The report segments Global Biosafety Cabinets Market as follows:
- Class I
- Class II
- Class III
By End User
- Diagnostic and Testing Laboratories
- Academic and Research Institutions
- Pharmaceutical and Biopharmaceutical Companies
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Keywords: Biosafety Cabinets Market, Biosafety Cabinets