A report on the Global Laboratory Safety Cabinets Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Laboratory Safety Cabinets market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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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.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Accutek Packaging Equipment Aesus Labelette Labeling Machines Rotary Criveller Clearpack group Krones Group KHS Biner Ellison Multi-Tech Systems Sacmi Labelling. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
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.
Laboratory Safety Cabinets Market Segmentation:
By Type:
- Class I Biological Safety Cabinets
- Class II Biological Safety Cabinets
- Class III Biological Safety Cabinet
- Other
By Applications:
- Pharmaceutical factory
- Hospital
- Disease Prevention and Control
- Academic Research
- Other
Frequently Asked Questions (FAQ):
- What is the growth rate predicted for the Global Laboratory Safety Cabinets Market?
- Who are the top performing companies in Laboratory Safety Cabinets Market?
- Which region dominated the worldwide market for Laboratory Safety Cabinets in 2022?
Related Sources:
- https://www.digitaljournal.com/pr/global-pie-packaging-market-is-expected-to-grow-at-a-cagr-of-6-during-forecast-period
- https://www.openpr.com/news/2858651/suspension-ball-joint-market-analysis-and-industry-research
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