Health

Biosafety Cabinets Market to Witness Huge Growth by 2027

The biosafety cabinets market was valued at US$ 166.67 million in 2019and is projected to reach US$ 312.90 million by 2027; it is expected to grow at a CAGR of 8.2%from 2020to 2027.

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.

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Biosafety Cabinets Market – By Type

  • Class I
  • Class II
  • Class III


Biosafety Cabinets Market – By End User

  • Diagnostic and Testing Laboratories
  • Academic and Research Institutions
  • Pharmaceutical and Biopharmaceutical Companies
  • Other End Users

 

Based on end user, the biosafety cabinets market is further 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. 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 the supply chain operations. These measures impacted the market by certain extent.

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Strategic Insights

Product launches and expansion strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is most commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the biosafety cabinets marketadopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

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