The biological safety cabinets market was valued at USD 137.5 Million in 2016 and is projected to reach USD 205.9 Million by 2022 at a CAGR of 7.4% during the forecast period.Growth in the biological safety cabinets market is primarily driven by factors such as favorable regulations driving the use of biological safety cabinets in the healthcare industry, increased risk of pandemics and communicable diseases, increasing number of R&D activities in biotechnological and pharmaceutical companies, and rapid growth in the number of biologics.

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Pharmaceutical & biopharmaceutical companies held the largest share of the market in 2017

On the basis of end user, the biological safety cabinets market has been segmented into pharmaceutical & biopharmaceutical companies, diagnostic and testing laboratories, and academic & research institutions. In 2017, the pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the biological safety cabinets market. This segment is also projected to grow at the highest CAGR during the forecast period. The large share and high growth of the market can be attributed to the increasing demand for drug development and the need to ensure the safety of laboratory personnel.

North America to dominate the market in 2017

In 2017, North America accounted for the largest share of the biological safety cabinets market, followed by Europe. The large share of the North American region can be attributed to the increasing biomedical research and R&D by pharmaceutical companies in the region, growing stem cell research, government support for research in the US, and government support for the development of protein drugs in Canada, which increases the need for biological safety cabinets.

The major market players in the biological safety cabinets market include Thermo Fisher Scientific (US), Esco Micro (Singapore), Labconco (US), The Baker Company (US), Kewaunee Scientific (US), NuAire (US), Germfree Laboratories (US), EUROCLONE (Italy), Cruma (Spain), Air Science (US), Berner International (Germany), and BIOBASE (China).