Biological Safety Cabinet Market Forecast 2023 - 2031

By Product Type :

The product type is categorized into class I, class II, and class III. The class II segment is further bifurcated into type A and type B. In 2022, the class II segment accounted for the highest market share of 47.63% in the biological safety cabinet market. Class II BSCs are popular because they offer a good balance of protection for laboratory workers and the environment, while also being relatively affordable and easy to use. Class II BSCs work by creating a negative pressure environment within the cabinet and using HEPA filters to remove contaminants from the air. The negative pressure environment prevents hazardous materials from escaping into the surrounding environment, and the HEPA filters remove contaminants from the air inside the cabinet. The increasing launch of new Class II biological safety cabinets is driving the segment growth across the globe. For instance, in February 2021, Thermo Fisher Scientific launched the Thermo Scientific Herasafe 2025 BSC, an advanced biological safety cabinet (BSC) for safe sample handling in life science applications. The BSC is part of Thermo Fisher Scientific's Class II BSC portfolio. Thus, the growing innovations in the product are driving the segment growth across the globe.

Moreover, the Class III segment is expected to hold the highest CAGR over the forecast period. The demand for Class III biological safety cabinets is increasing due to the rising concerns about the global spread of pandemics and viral diseases. For instance, in October 2023, the World Health Organization stated that from 12 to 15 September 2023, the Ministry of Health and Family Welfare, Government of India, reported six laboratories confirmed Nipah virus cases, including two deaths, in Kozhikode district, Kerala. Thus, the growing prevalence of viral disease is expected to provide lucrative growth opportunity for segment growth across the globe.

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By End-user Industry :

The end-user industry segment is categorized into pharmaceutical and biopharmaceutical, laboratories, diagnostic and testing laboratories, academic and research institutions, hospitals, and others. In 2022, the pharmaceutical and biopharmaceutical segment accounted for the highest market share in the overall biological safety cabinet market, and it is also expected to hold the highest CAGR over the forecast period. The growing investments in pharmaceutical and biotechnology research and development activities are driving the demand for biological safety cabinets from these industries. For instance, according to the 2021 European Union Industrial R&D Investment Scoreboard, health industries invested USD 199.24 billion in R&D in 2020, which accounted for 20.8% of total business R&D expenditure worldwide. Thus, the significant growth in research and development expenditure is driving the demand for biological safety cabinets from the pharmaceutical and biopharmaceutical industries across the globe.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 36.13% valued at USD 63.68 Million in 2022 and USD 68.66 Million in 2023, it is expected to reach USD 129.59 Million in 2031. In North America, the U.S. accounted for a major market share of 64.73% in the year 2022. The biological safety cabinet market across the North America region growing owing to the significant growth in investments for pharmaceutical research and developments. The growing government investments in pharmaceutical research and development is driving the market across the region. For instance, according to the report by the National Center for Science and Engineering Statistics in September 2023, in financial year (FY) 2022, the 42 federally funded research and development centers (FFRDCs) in the United States spent USD 26.5 billion on research and development (R&D). This was a 6.4% increase from the previous year. Furthermore, according to the data published by the Congressional Budget Office in April 2021, The U.S. pharmaceutical industry spent $83 billion on R&D in 2019. This was more than 10 times the amount spent in the 1980s, adjusted for inflation. Thus, the growing pharmaceutical research and development spending across the region is driving market growth.

Furthermore, the Asia Pacific region is expected to witness significant growth over the forecast period, growing at a CAGR of 8.7% during 2023-2031. The significant growth in the pharmaceutical and healthcare sector across the region is expected to increase the demand for biological safety cabinets across the region. For instance, according to the report by the Trade Promotion Council of India in August 2023, The Indian hospital industry has seen a significant increase in investments, particularly from private equity firms. In the last two years, the industry has transacted deals worth over USD 3.24 billion. All these above-mentioned factors are collectively driving the demand for biological safety cabinets from the pharmaceutical and healthcare industry in the Asia Pacific region and creating lucrative growth opportunities for the biological safety cabinet market in the Asia Pacific region.