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Biological safety cabinets or microbiological safety cabinets are closed ventilated workspace that limit exposure to personnels, sample, or working environment with harmful microbes by either venting or enclosing hazardous sample space, thereby protecting the personnels from getting infected. Rising number of R&D in the field of biotechnology and life sciences in order to cater efficacious and safe drugs to patients are some of the factors that will drive the the market during forecast period. For instance, in 2019, it was seen that 4 out of 10 drugs under development are biotech-derived, as growing demand for personalized medicines and orphan drugs is driving the increased number of R&D in large molecules.
The biological safety cabinets market is expected to register a significant growth during the forecast period due to factors such as growing aging population coupled with the increasing prevalence of chronic diseases, rising R&D investments in life sciences and biotechnology sector, and atomization and regulatory compliance in research laboratories. For instance, according a study by BDO, the R&D investment in life science industry has increased to 22% from 2018 to 2019.
However, high cost and availability of alternatives such as compounding isolators are factors that restrict the growth of biological safety cabinets market.
Key Market Driver -
Rising number of R&D in the field of biotechnology and life science, Growing prevalence of chronic disease
Key Market Restraint -
High cost and availability of alternative products.
Globally, the biological safety cabinets market can be segmented on the basis of the product type, end user, and region. Based on the product type, the market can be segmented into Class I, Class II, and class III. Based on class II, the market can be further segmented into Class II type A and Class II type B. Based on end user, the market can be segmented into pharmaceutical and biopharmaceutical companies, diagnostic and testing laboratories, and others. Geographically, the biological safety market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the biological safety cabinets market are Thermo Fisher Scientific Inc., Labconco, Esco Micro Pte. Ltd., Baker, Kewaunee International Group, Nuaire, Germfree Laboratories, Inc., Euroclone S.p.A., and other prominent players.
Geographically, the biological safety cabinets market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to account for maximum share of the biological safety cabinets market. The availability of hi-tech / advanced healthcare infrastructure and higher penetration of key market players are some of the factors that augment the market growth of the region. For instance, in April 2019, Lonza Group Ltd. expanded a 300,000-square foot facility in Pearland, Texas in order to double the manufacturing of its viral gene and virally modified cell therapy products. Europe is anticipated to hold second largest market share in global market. Increasing collaborations and acquisitions in biologics manufacturing and R&D is likely to spur the market growth in this region. Moreover, U.K. is at the forefront of advancing gene therapy technology accounting for 12% of global gene and cell trials. To carry out this experimental work, companies require specialist systems and infrastructure. For instance, in June 2020, Biopharma installed 10 premium 212 Microbiology Safety Cabinets to a gene therapy based company in London.
On the other hand, Asia Pacific is expected to register the highest CAGR. Increasing biomedical research and R&D by pharmaceutical companies and growing government support and initiatives for research activities is anticipated to propel the market growth of this region. For Instance, according to India Brand Equity foundation, under the Union budget 2020-21, the Indian government announced the plans to set up nine biosafety level-3 (BSL-3 laboratories) under the Pradhanmantri Atmanirbhar Swasth Bharat Yojana. The market in Latin America and the Middle East & Africa are in nascent stage. However, a step towards improving the healthcare infrastructure and focus on better patient care by investments from key market players, and other government initiatives in these regions are likely to help witness a considerable growth in the market in the upcoming years.
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