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Extensive market analysis carried out by the analysts at Technavio has shown that the global biological safety cabinet market will grow at a moderate CAGR of around 7% until the end of 2020. The significant investments made in the field of research and development in the last twenty years is driving the market for biological safety cabinet globally. For instance, China will emerge as the global force when it comes to R&D and has plans to invest 2.5% of its GDP on research. With continuing emphasis on knowledge expansion and innovation, the trend of increasing spending on R&D will continue over the forecast period.
Factors such as the widespread adoption of automation in laboratories for sample preparation, storage, and movement of sample and equipment is both cost-effective and saves time. Automation in labs allows for efficient workflow with less need for human input, thereby minimizing errors and levels of contamination. Also, several biological safety cabinets allow the integration of automated accessories and other instruments to improve safety. With the emergence of biosafety cabinets and laminar flow cabinets which integrate an automated air barrier that reduces the risk of infection from airborne contaminants. Also, the digital interfaces on the cabinets allow for easy control of various factors within the cabinet, thereby reducing the complexity of operation. The rising demand for automation in laboratories will bolster this market’s growth potential during the forecast period.
In this market study, the analysts have estimated the Americas to be the largest market for biological safety cabinet and is expected to reach close to USD 51 million by the end of 2020. Factors like large investments in research and testing in this region will spur the prospects for market growth until the end of the forecast period. The market for biological safety cabinet will account for a market share of approximately 32% by 2020.
The biological safety cabinet market is highly fragmented due to the presence of several large and small players. The competitive environment is expected to intensify due to an increase in product extensions, new product launches, and new applications of integrated product offerings. The market is expected to remain competitive with all the players competing to gain more market share.
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Related reports
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Key leading countries
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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