According to The Insight Partners market research study of “Biosafety Cabinets Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type and End User, the global biosafety cabinets market is expected to reach US$ 312.90 millionby2027 from US$ 166.67 million in 2019. The market is estimated to grow at a CAGR of 8.2% from 2020 to 2027. The report highlights trends prevailing in the global biosafety cabinets market and the factors driving market along with those that act as hindrances.
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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 companies segment 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 biosafety cabinets market is expected to grow owing to factors such as increasing prevalence of infectious diseases and technology 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 years.
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.
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.
Rising Prevalence of Infectious Diseases
Infectious diseases are rapidly increasing worldwide. The World Health Organization reported that infectious diseases are likely to be responsible for killing over 30 million people each year. According to a new report by Centers of Disease Control and Prevention (CDC), there has been a three-fold increase in the number of people suffering from ticks and fleas, mosquitoes, Zika, Lyme disease, and others between 2004 and 2016. The appropriate care and management in terms of handling the patient samples to conduct vast number of experiments and studies for formulating anti-dotes and vaccines to curb these diseases require appropriate workstation and sanitized environment. These controlled and disinfected environments are mostly possible with the use of biological safety cabinets, which is likely to propel the growth of the market over the coming years.
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:
By End User
Diagnostic and Testing Laboratories
Academic and Research Institutions
Pharmaceutical and Biopharmaceutical Companies
Rest of Europe
Asia Pacific (APAC)
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of Middle East & Africa
South & Central America…