$400 Million Biological Safety Cabinet (Class I, Class II, Class III) Markets - Global Forecast to 2027: Increased Risk of Pandemics and Communicable Diseases to Drive Market - ResearchAndMarkets.com

2022-12-02

DUBLIN--(BUSINESS WIRE)--The "Biological Safety Cabinet Market by Type (Class I, Class II (Type A, Type B), Class III), End User (Pharmaceutical & Biopharmaceutical Companies, Diagnostic & Testing Laboratories, Academic Research Institutes), and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

'Biological Safety Cabinet Market by Type (Class I, Class II (Type A, Type B), Class III), End User (Pharmaceutical & Biopharmaceutical Companies, Diagnostic & Testing Laboratories, Academic Research Institutes), and Region - Global Forecast to 2027'

The global biological safety cabinet market is projected to reach USD 0.4 billion by 2027 from USD 0.2 billion in 2022, at a CAGR of 8.2%.

Market growth is driven by factors such as increased production of biosimilar products and increased research for vaccines. On the other hand, the challenges associated with biological safety cabinet is alternative containment cabinets is the major factors hampering the growth of this market.

The class II segment accounted for the highest growth rate in the biological safety cabinet market, by type, during the forecast period

The biological safety cabinet market is segmented into class I, class II and class III. In 2021, class II segment accounted for the highest growth rate in the biological safety cabinet market. The growing pharmaceutical and biopharmaceutical industry and growing concerns over cell culture contamination are a major factor contributing to the growth of this segment.

The pharmaceutical and biopharmaceutical companies segment accounted for the highest growth rate in the biological safety cabinet market, by end-user, during the forecast period

The biological safety cabinet market is segmented into pharmaceutical and biopharmaceutical companies, diagnostic and testing laboratories and academic research institutes based on the type of waste.

In 2021, the pharmaceutical and biopharmaceutical companies segment accounted for the highest growth rate in the biological safety cabinet market. Emerging markets offer lucrative growth opportunities are major factors contributing to the growth of this segment.

Asia Pacific: The fastest-growing region in biological safety cabinet market

The Asia Pacific region is projected to register the highest CAGR during the forecast period. Increasing number of conferences focused on creating awareness of biosafety is driving the growth of the biological safety cabinet market in this region.

Competitive landscape