Report ID: SQMIG35J2119
Report ID:
SQMIG35J2119 |
Region:
Global |
Published Date: September, 2024
Pages:
210
|
Tables:
63 |
Figures:
70
Global Biological Safety Cabinet Market size was valued at USD 0.20 Billion in 2022 and is poised to grow from USD 0.22 Billion in 2023 to USD 0.41 Billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
As the name suggests, biological safety cabinets are vital for working safely with harmful substances and infectious materials. The market is engaged in the production and supply of dedicated laboratory equipment specially designed to protect workers, the environment, and samples from harmful biological elements. The market is fueled by several key factors, including the growing cases of infectious diseases, the rising number of research activities, and stringent laboratory safety norms. The market is witnessing substantial growth backed by improvements in technology, expansion of biotechnology and pharmaceuticals sectors, and the growing funding for healthcare research. Nonetheless, the market is restrained by factors like costly equipment, especially the ones equipped with higher levels of safety and enhanced features. Moreover, the operational and maintenance costs of this equipment are high, thus restraining the adoption of biological safety cabinets. Despite these restraints, the market will considerably grow due to prospects like growing technological improvements like integration of IoT and AI and progressing biopharmaceutical sector.
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Report ID: SQMIG35J2119