Biological Safety Cabinet Market Will Touch USD 507.1 Million Value by 2030, Says P&S Intelligence

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- In 2022, the biological safety cabinet market had a total size of USD 276.8 million, and it is projected to hit USD 507.1 million by 2030, progressing at a rate of 7.9% from 2022 to 2030, according to a research report by P&S Intelligence.

This can be credited to the increase in the R&D activities in the fields of life sciences, biotechnology, and pharmaceuticals, in order to discover effective and safe drugs. Furthermore, the rapid advancement in the making of communicable disease vaccines and the rise in the occurrence of chronic diseases boost the growth of the market.

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Increasing Expenditure on R&D Will Boost Industry

Because of the substantial growth in the research and development environment in the past few years, laboratories and the associated equipment and reagents have been updated, which will boost the sales of biosafety cabinets.

Likewise, the healthcare ecosystem is swiftly advancing with the initiatives and investment of governments in almost every country.

Expansion of Healthcare Infrastructure Worldwide

In emerging economies, governments are spending heavily to advance the technologies used for the production of pharmaceutical and biologic drugs, establish new laboratories, and provide improved healthcare all over.

These countries are also altering their guidelines in order to enhance their healthcare infrastructure, via investment, and motivate the innovation of pharma items, such as vaccines.

Class II Cabinets Are Highest Revenue Generators

The class II category, in 2022, held the largest revenue share, of approximately 50%, and it is projected to continue at the leading spot throughout the decade.

This is credited to the higher acceptance of class II biosafety cabinets, as they offer solid defense to the sample, the utilizer, and the nearby atmosphere. Such variants are majorly utilized to guard those carrying out microbiological work from infections.

Browse detailed report on Biological Safety Cabinet Market Growth, Development and Demand Forecast to 2030

Biosafety Cabinet Sales Are Highest in North America

In 2022, North America had the largest market share, of approximately 45%, and it is projected to develop at a robust CAGR in the coming years. This can be credited to the significant R&D activities in the biotechnology and pharmaceutical industries and the high risk of infectious illnesses in this continent.

Other key boosters for product sales in the region are the presence of a well-established healthcare industry and a strong epidemiologic and vaccination research basis.

Moreover, the fast uptake of innovative technologies and the surging frequency of chronic diseases both help in the growth in the demand for these cleanroom devices in the continent.

Biological Safety Cabinet Market Segment Coverage in the Report

Biological Safety Cabinet Market by Type

• Class I
• Class II
• Class III

Biological Safety Cabinet Market by End User

• Pharmaceutical and Biotechnology Companies
• Academic and Research Laboratories
• Others

Biological Safety Cabinet Market by Application

• Industrial
• R&D
• Academic

Biological Safety Cabinet Market Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence