{"id":51095,"date":"2020-07-22T18:00:00","date_gmt":"2020-07-22T18:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2665821"},"modified":"2020-07-22T18:00:00","modified_gmt":"2020-07-22T18:00:00","slug":"biological-safety-cabinet-market-growing-at-a-cagr-of-7-during-forecast-period-2020-2025","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2020\/07\/22\/biological-safety-cabinet-market-growing-at-a-cagr-of-7-during-forecast-period-2020-2025\/","title":{"rendered":"Biological Safety Cabinet Market Growing at a CAGR of 7% During Forecast Period 2020-2025"},"content":{"rendered":"

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Biological Safety Cabinet Market<\/strong><\/a>size in 2019 is estimated to be $168.3 million, growing at a CAGR of 7% during the forecast period 2020-2025.Biological safety cabinet are also known as microbiological cabinet which are enclosed ventilated workstations that facilitate safe handling of biological samples, contaminants and others. These cabinets are equipped with HEPA filters (High-efficiency particulate arresting) to maintain the sterility of environment. Adoption of automation in laboratories and growing R&D activities in pharmaceutical industry are the major factors driving the growth of the market. Moreover, favourable regulation and increasing need to safeguard product, agent from biohazard exposure further enhance the overall market demand for biological safety during the forecast period 2020-2025.<\/p>\n

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Type – Segment Analysis<\/strong><\/p>\n

Based on the Type, biological safety cabinet market is segmented into class I, class II, class III. The class I segment is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 6.3% during the forecast period 2020-2025. This is mainly owing to increasing usage of class I in general microbial research with low and moderate risk agents. Class I biological safety cabinet provides environmental protection and the exhaust air must be HEPA filtered to protect the environment that are contributing to the growth of this segment.<\/p>\n

End-Use Industries – Segment Analysis<\/strong><\/p>\n

Based on the end-use Industries, biological safety cabinet market is segmented into Pharmaceutical & Biopharmaceutical Companies, Diagnostic & Testing Laboratories, Academic & Research Institution and others. In 2019, Pharmaceutical & Biopharmaceutical Companies held the largest share in the biological safety cabinet market. Increasing demand for safety cabinets during drug development and the need to ensure the safety of laboratory personnel are the key factors driving the growth of the segment. Increasing usage in the pharmaceutical companies for the process of manufacturing new drugs that include harmful components is also contributing to the growth of this segment.<\/p>\n

Geography – Segment Analysis<\/strong><\/p>\n

North America dominated the biological safety cabinet market share accounting for 35% of the market in 2019. This is mainly owing to the increasing research and development facilities, increase in demand for advanced healthcare facilities and high economic development. According to Public Health and Safety Organization, North america operates two accreditation programs that evaluate the proficiency of individuals and enhanced accreditation program for biosafety cabinet field certifiers.<\/p>\n

However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is owing to the increasing development in the healthcare sector and increasing investment in R&D.<\/p>\n

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Drivers –Biological Safety Cabinet Market<\/strong><\/p>\n