The global Laboratory Safety Cabinets market size was valued at USD 158.88 million in 2019 and is projected to grow at a CAGR of 7.5% during the forecat period from 2020 to 2027.

Laboratory Safety Cabinets Market Overview:

Laboratory safety cabinets or miniature laboratory safety cabinets are enclosed and ventilated work spaces that protect personnel from infection by limiting exposure of personnel, samples, or the work environment to harmful microorganisms by ventilating or enclosing hazardous sample spaces. Rising number of R&D efforts in biotechnology and life sciences to provide effective and safe medicines to patients are some of the factors driving the market during the forecast period. For example, in 2019, 4 out of 10 drugs in development were biotech-derived, driven by growing demand for personalized medicine and orphan drugs, driving an increase in the number of large molecules in development.

The laboratory safety cabinet market is expected to witness significant growth over the forecast period owing to factors such as increasing aging population, rising prevalence of chronic diseases, increasing R&D investments in life sciences and biotechnology, and research experiments on aerosolization and regulatory compliance room. For example, R&D investment in the life sciences industry has increased to 22% from 2018 to 2019, according to a BDO study.

Laboratory Safety Cabinets market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Laboratory Safety Cabinets market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

The global Laboratory Safety Cabinets market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.

Significant Laboratory Safety Cabinets Market Dynamics and Growth Factors:

Drivers: Favorable Provisions
Government regulation of the healthcare industry, with a particular focus on safety, has increased significantly. Pharmaceutical and biopharmaceutical companies have increased the use of laboratory safety cabinets owing to the increased demand for high-quality healthcare products. These regulatory requirements for the use of laboratory safety cabinets will drive market growth.

Opportunity: Emerging markets offer lucrative growth opportunities
Rising funding and R&D spending from governments and private institutions is expected to offer significant growth opportunities. The pharmaceutical industry in emerging markets invests heavily in drug development and the growing demand for new drug molecules presents a huge opportunity for laboratory safety cabinets.

Constraint: Alternative Containment Locker
The development of efficient and reliable alternatives to biosafety cabinets has increased significantly. These devices provide better sterility than biological safety cabinets and are mainly used in pharmaceutical and biopharmaceutical companies.

Top Key Players include in the Laboratory Safety Cabinets Market are
ESCO , Donglian Har Instrument , Thermo Fisher Scientific Inc , Telstar Life-Sciences , NuAire (Polypipe) , AIRTECH , Heal Force Bio-Meditech , Baker Company , BIOBASE , Kewaunee Scientific , Labconco, and others.

The Laboratory Safety Cabinets market research report is categorized based on type, applications and region.

On the Basis of Type:

• Class I Biological Safety Cabinets
• Class II Biological Safety Cabinets
• Class III Biological Safety Cabinet

On the Basis of Application:

• Pharmaceutical factory
• Hospital
• Disease Prevention and Control
• Academic Research

On the Basis of Region:

Geographically, the global Laboratory Safety Cabinets market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Laboratory Safety Cabinets region is dominating this market in the upcoming future.

North America led the market in 2019, accounting for 32.7% of the global market share. It is expected to maintain its leading position throughout the forecast period. Rising incidence of chronic diseases, rapid adoption of advanced technologies, and extensive R&D by major companies in North America are contributing to the growth of the regional market.

Asia Pacific is expected to witness the fastest CAGR during the forecast period. This is attributed to increased spending by domestic and foreign companies, a large skilled workforce, and the government's shift to promote basic research and entrepreneurship.

Further the regions are divided into countries as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Laboratory Safety Cabinets Market report scope

Report Attributes	Details
Growth Rate	CAGR of 7.5% during the forecast period.
By Type	Class I Biological Safety Cabinets, Class II Biological Safety Cabinets, Class III Biological Safety Cabinet
By Application	Pharmaceutical factory, Hospital, Disease Prevention and Control, Academic Research
By Companies	ESCO , Donglian Har Instrument , Thermo Fisher Scientific Inc , Telstar Life-Sciences , NuAire (Polypipe) , AIRTECH , Heal Force Bio-Meditech , Baker Company , BIOBASE , Kewaunee Scientific , Labconco, and others.
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

The major key questions addressed through this innovative research report:

What are the major challenges in front of the global Laboratory Safety Cabinets market?

Who are the key vendors of the global Laboratory Safety Cabinets market?

What are the leading key industries of the global Laboratory Safety Cabinets market?

Which factors are responsible for driving the global Laboratory Safety Cabinets market?

What are the key outcomes of SWOT and Porter’s five analysis?

What are the major key strategies for enhancing global opportunities?

What are the different effective sales patterns?

What will be the global market size in the forecast period?

Any special requirements about this report, please let us know and we can provide custom report.