Market Research Report
Europe Biosafety Cabinets Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type ; End Users, and Country
|Published by||The Insight Partners||Product code||979118|
|Published||Content info||107 Pages
Delivery time: 1-2 business days
|Europe Biosafety Cabinets Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type ; End Users, and Country|
|Published: November 17, 2020||Content info: 107 Pages||
The Europe biosafety cabinets marketis expected to reachUS$ 89.30 millionby 2027 from US$ 48.92 millionin 2019. The market is estimated to grow at a CAGR of 7.8% from 2020 to 2027.
The factors that are driving growth of the market are anexpansion of research and development activities due to huge investments by private players and government authorities and rising technological developments in biosafety cabinets. In addition, rising demand for advanced protective equipment for researchers is also anticipated to offer lucrative opportunity for the Europe biosafety cabinets market during the forecast period. However, the high cost involved in the installation and maintenance of biosafety cabinets is likely to have a negative impact on the market growth.
Infectious diseases are rapidly increasing worldwide. The World Health Organization reported that infectious diseases are likely to be responsible for killing over 30 million people each year. According to a new report by Centers of Disease Control and Prevention (CDC), there has been a three-fold increase in the number of people suffering from ticks and fleas, mosquitoes, Zika, Lyme disease, and others between 2004 and 2016. Further, the ease of international travel has led to an additional layer of complexity in terms of tackling with the infectious diseases. The appropriate care and management in terms of handling the patient samples to conduct vast number of experiments and studies for formulating anti-dotes and vaccines to curb these diseases require appropriate workstation and sanitized environment. These controlled and disinfected environments are mostly possible with the use of biological safety cabinets, which is likely to propel the growth of the market over the coming years.
The Europebiosafety cabinets market, based on type,is segmented into class I, class II, and class III. In 2019, the class II segment held a larger share of the market; also, the same segment is expected to register a higher CAGRin the market during the forecast period.
A few major primary and secondary sources referred to in the process of preparing the report on the biosafety cabinets market are theWorld Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe biosafety cabinets market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Europe biosafety cabinets market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.