Class II Type Segmentto Witness Higher CAGR during Forecast Period
According to the latest report on “North America Biosafety Cabinets Market Forecast to 2027 – COVID-19 Impact and Analysis – Type and End Users,”the market was valued at US$ 76.62 million in 2019 and is projectedto reach US$ 147.31 millionby2027; it is expected to grow at a CAGR of 8.5%during 2020–2027. The report highlights trends prevailing in the North Americabiosafety cabinets market and the factors driving market along with those that act as hindrances.
Based on type, the North Americabiosafety cabinets market is segmented into class I, class II, and class III. In 2019, the class II type segment held a largershare of the market. Also, the same segment is expected to grow at a fasterrate duringthe forecast period.
The growth of the North Americabiosafety cabinets market is attributed to the rising research and development activities coupled with growing adoption of biosafety cabinets is estimated to offer lucrative opportunity for market growth during the forecast period.However, the high cost involved in the installation and maintenance of biosafety cabinets limits the growth of market in this region.
The demand biosafety cabinets has increased in the region due to COVID-19 as the focus of healthcare is to save lives in COVID 19 pandemic, and conduct maximum number of tests possible each day to maximize diagnosis thereby managing the disease. In addition, as per the regulations by Centers of Disease Control and Prevention (CDC) and World Health Organization (WHO), live sample testing is mandatory to be performed in a controlled environment thereby leading to surge in the demand for biosafety cabinets in the North America.
Esco Group of Companies, Thermo Fisher Scientific Inc., Azbil Telstar, Baker, and NuAireInc. are among the leading companies operating in the North Americabiosafety cabinets market.
The report segments North AmericaBiosafety Cabinets Marketas follows:
By Type
- Class I
- Class II
- Class III
By End User
- Diagnostic and Testing Laboratories
- Academic and Research Institutions
- Pharmaceutical and Biopharmaceutical Companies
- Other End Users
By Country
- US
- Canada
- Mexico