The biological safety cabinet market is projected to grow at a CAGR of 6.81% to reach US$177.822 million by 2024, from US$119.774 million in 2018. Growing pharmaceutical and biotechnology sectors and rising investment in the health care sector are the prime factors to drive the growth of the market. For instance, Innovate UK recently invest £12 million to SMEs working on projects that solve healthcare challenges under its first biomedical catalyst. Moreover, increased risk of the influenza pandemic and communicable disease also works as the driving factor for the growth of the market. However high cost of biological safety cabinets is considered as the restraining factor for the growth of the market.
The Biological Safety Cabinet Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, end-user, and geography.
The biological safety cabinet market has been segmented based on type, end-user, and geography. Based on type, the market has been segmented into class I, class II, and class III. By end-user, the market has been segmented into pharmaceutical companies, diagnostics & testing laboratories, and academic & research institutions.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 11 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the biological safety cabinet market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the biological safety cabinet market.
The biological safety cabinet market has been analyzed through the following segments: