Given the debilitating impact of COVID-19 (Coronavirus) on the Biological Safety Cabinet Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Biological Safety Cabinet Market Analysis
Biological safety cabinets (BSC) are majorly utilized by the pharmaceutical and biotechnology sectors for various quality control processes, R&D practices, and others where some hazardous research materials may produce aerosols which can contain, such as infectious agents that laboratory workers could inhale.
Biological safety cabinets facilitate laboratory techniques for safe handling the potentially infectious research materials in order to prevent exposure of laboratory personnel and the contamination of the general environment. Some biological safety cabinets also provide a clean work environment to protect cell cultures or sterile apparatus.
Global biological safety cabinet market is growing rapidly mainly due to the growing biotechnology and pharmaceutical sector. Increasing research activities in the Biotechnology led by the burgeoning pharmaceutical sector provide favorable backgrounds for the market to grow exponentially, increasing the demand for biological safety cabinets. Moreover, the rising investments in the medical sector and life sciences are escalating the market on the global platform.
Acknowledging the rapid expansions, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global biological safety cabinet market will reach significant growth heights by 2023 registering 7.4% CAGR during the review period (2018 – 2023). Advances in technology majorly drive the market growth, improving such safety equipments.
The increasing demand for effective and advance technology-based products is anticipated to boost the market size of the global biological safety cabinet market. The global biological safety cabinet market has been evaluated as a swiftly growing market in the coming years, and it is expected that the market will have high demand globally.
The global biological safety cabinet market is undergoing a rapid change. Ongoing discussions and proceedings have brought into examination’s competence of existing regulatory frameworks for medical equipments in well-developed as well as in developing regions guaranteeing the performance, quality, and safety.
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Global Biological Safety Cabinet Market – Segments
MRFR has segmented the analysis into four key dynamics for better understanding:
By Type: Class I, Class II, and Class III.
By Application Industrial, R&D, and Academic among others.
By End-users: Pharmaceutical & Biotechnology Companies, Diagnostic & Testing Laboratories, and others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global Biological Safety Cabinet Market – Geographical Analysis
The North American region leads the global biological safety cabinet market. The US among other North American countries, backed by the expanded healthcare industry in the country accounts for the significant market share in the regional market. Moreover, the presence of a well-developed healthcare sector and major market players positively impacts the market growth in the region.
Factors substantiating the market growth include the growing research activities in the Pharmaceutical and biotechnology companies backed by the well-established healthcare sector. The expanding pharmaceutical sector in the region provides suitable backgrounds for the market to grow by increasing the usages of biosafety cabinets in R&D and quality control processes, besides others.
Europe is the second-largest market for biological safety cabinet, which is led by the presence of promising players mainly the UK, and Germany. Other factors contributing to the regional market growth include a well-developed healthcare sector, huge demand for drug discoveries, increasing healthcare expenditures, and funding for research activities by public & private sectors.
Western Europe holds the significant market share owing to the major contributions from the UK, Germany, France, and Italy. Eastern Europe, on the other hand, accounts for the fastest growing region owing to the huge opportunities from the untapped market.
The Asia Pacific region is rapidly emerging as a promising market for biological safety cabinet. Substantial investments by Asian pharma companies are resultantly sufficing the exponential progress. Besides, the governmental support for the research in biotechnology led by the continually improving economic conditions is providing impetus to the market growth.
The biological safety cabinet market in the MEA region is expected to witness impeding growth due to the political conditions and poor economy in the African region.
On the other hand, the market in the Middle Eastern region is poised to witness phenomenal growth due well-developed healthcare sector backed by the government’s initiatives and funding. Countries such as Kuwait, Saudi Arabia, Dubai, and Qatar are majorly contributing to the market growth, which in turn, is transforming the market, facilitating it to reach the global space. Cost competitive product development is undoubtedly the key factor driving the regional market growth.
Global Biological Safety Cabinet Market – Competitive Analysis
Characterized by the presence of numerous big and small-scale players, the global of biological safety cabinet market appears fiercely competitive and fragmented. Well-established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain a competitive advantage and to maintain their positions in this market. The Key players operating in the market compete based on pricing, product launch, technology launch, and reputation.
Manufacturers adopt modern manufacturing process to ensure safety and convenience. Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new solutions to meet the changing needs of end-users. Manufacturers strive to fulfill the most restrictive hygienic and sterility standards while ensuring that ergonomics, simplicity, and reliability define the design of their products.
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Some of the players leading the market include Labconco (U.S.), Thermo Fisher Scientific (U.S.), Esco Micro (Singapore), Kewaunee Scientific (U.S.), The Baker Company (U.S.), NuAire (U.K), Cruma (Spain), Germfree Laboratories (U.S.), Air Science (U.S.), BIOBASE (China), Berner International (U.S.), and Azbil Telstar (Spain).
Industry/ Innovation/ Related News:
November 27, 2018 – Equashield, LLC (US), a leading global provider of Closed System Transfer Devices (CSTDs) for hazardous drugs, announced that it will launch a new version of its CSTD-enabled Equashield® Pro Robot at the upcoming ASHP Meeting.
Approximately the size of a standard Biological Safety Cabinet, the Equashield Pro is an Automated Pharmacy Compounding System that is used for the safe and efficient preparation of injectable drugs, including hazardous drugs. Moreover, the Equashield Pro facilitates the simple and cost-effective adoption of robotics in hospital pharmacies without the need for costly renovations and maintenance.
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