Market Research Report
South and Central America 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||979180|
|Published||Content info||93 Pages
Delivery time: 1-2 business days
|South and Central America Biosafety Cabinets Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; End Users, and Country|
|Published: November 5, 2020||Content info: 93 Pages||
The South and Central America biosafety cabinets market is expected to reach US$ 10.20 million by 2027 from US$ 6.23 million in 2019. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2027.
The growth of the market is attributed to the growing number of product launches in the region and developing research and infrastructure facilities in countries such as Brazil and Argentina. Moreover, growing investments for research and development as well as for vaccine development are estimated to propel the growth of the South and Central America 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 various diseases caused by ticks and fleas, mosquitoes, Zika, and others between 2004 and 2016. 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.
Based on type, the South and Central America biosafety cabinets market is segmented into class I, class II, and class III. The class II segment held the largest share of the market in 2019 and is expected to register the highest CAGR in 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 the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare.
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