Jul 13, 2020 6:00 PM ET
iCrowd Newswire – Jul 13, 2020
Major players of the Biological Safety Cabinet Market are facing hurdles keeping their production facilities operational due to the paucity of adequate personnel and resources amidst the COVID-19 (Coronavirus) outbreak. Get a first-hand peek into the key drivers and threats to the Biological Safety Cabinet Market to make your company future-ready post the pandemic. Avail our market reports at unbelievable prices to capitalize on opportunities.
Biological Safety Cabinet Market Overview
Global biological safety cabinet market share is speculated to mark a significant growth rate at CAGR of 7.4% during the forecast period of 2023. It’s the expanding biotechnology and pharmaceutical sector that is said to be the prime reason behind the growth of the market. Growing investment in the healthcare sector is also said to be a prime reason behind the growth of the market. Most of the biological safety cabinets are being made use of by the pharma and biotech domain.
With the growing standard of quality control, research, and development, the prospect for the market looks quite encouraging. The market scenario looks encouraging in the European domains. Especially, the market in the United Kingdom is speculated to witness growth at an average yearly growth rate of around 7 percent by the year 2021. The significant growth trend offers to accomplish prospects upon growing dependencies on biological safety cabinets. Noteworthy boost in investment in life science enhances the market pretty significantly, all across the globe.
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Greater application of it in the life science domain is one of the prime reasons behind the growth of the global biological safety cabinet market. Considering the fact that life science is an all-inclusive segment involving studies of all life forms, ranging from microbes, plants, to animals, the growth prospect of the market turns even bigger. The association of the market with functionalities like microbiological study, tissue culture, etc. also provide scope for the growth of the biological safety cabinet market.
Biological Safety Cabinet Market Key players
Some of the key players in the global biological safety cabinet market are Thermo Fisher Scientific (U.S.), Labconco (U.S.), Esco Micro (Singapore), The Baker Company (U.S.), Kewaunee Scientific (U.S.), NuAire (U.K), Germfree Laboratories (U.S.), Cruma (Spain), Air Science (U.S.), Berner International (U.S.), BIOBASE (China), Azbil Telstar (Spain), and others.
Biological Safety Cabinet Market Segmentation
The international biological safety cabinet market is segmented on the basis of type, application, and end-user.
On the basis of type, the international biological safety cabinet market is segmented on the basis of class I, class II, and class III. It is here to note that the class II segment is sub-segmented into class II type A and class II type B.
On the basis of application, the international biological safety cabinet market is segmented into industrial, research and development, and academic.
In terms of end-user, the market is segmented into pharmaceutical and biotechnology companies, diagnostic and testing laboratories, and others.
Biological Safety Cabinet Market Regional Summary
From a regional perspective, the global market for biological safety cabinets is segmented into the US, Asia Pacific, the Middle East and Africa, and Europe. The US among these is the biggest player in this segment. Starting from the establishment of the high-end healthcare sector is the reason behind the nation being the leading one in this segment. It is expected to grow by double the rate during the forecasted period. India and China are the leading Asia Pacific markets, with Japan showing incredible trends as well. Among European markets, the UK is the most established with a huge scope of research and development. The Middle East and Africa look promising as well.
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Biological Safety Cabinet Industry News
3rd Watch News publishes reports on the global market for biological safety cabinets. It analyses all the intrinsic aspects associated with the growth of the market. Te report predicts the growth rate during the forecasted period. It identifies the key domains where the growth rate is expected to be at the peak.
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