Biological Safety Cabinet Market Trends

Growth Drivers

• Increasing Incidence of Infectious Diseases: Tuberculosis (TB) is a bacterial infection that primarily affects the lungs. According to the WHO, there were an estimated 10 million cases of TB worldwide in 2020, with 1.5 million deaths. The COVID-19 pandemic has significantly impacted the world, with over 466 million confirmed cases and over 6.1 million deaths globally as of November 2021, according to the World Health Organization (WHO). Human immunodeficiency virus (HIV) is a virus that attacks the immune system, and acquired immunodeficiency syndrome (AIDS) is the most advanced stage of HIV infection. According to UNAIDS, there were approximately 38 million people living with HIV/AIDS globally in 2020, with 680,000 deaths.
• Increasing Awareness about Laboratory Safety: The increasing awareness about laboratory safety and the need to prevent the spread of infectious diseases is driving the demand for biological safety cabinets. According to a survey by the Centers for Disease Control and Prevention (CDC), 73% of laboratory workers reported taking precautions to avoid exposure to infectious agents.
• Growing Demand for Gene Editing and Cell Therapy Research: The increasing demand for gene editing and cell therapy research is driving the growth of the biological safety cabinet market. According to a report, the global cell industry accounted for nearly USD 7.5 billion in 2020.
• Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for biological safety cabinets. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.
• Spiking Healthcare Spending – According to the latest spending data, global healthcare spending has increased over the past two decades, effectively doubling from 8.5% in 2000 to USD 8.5 trillion in the year 2019, increasing GDP reached 9.8%. The boom will continue during the forecast period.

Challenges

• High cost: Biological safety cabinets are expensive, and their high cost can be a significant barrier to adoption, especially for smaller laboratories and research institutions.
• Complexity and maintenance
• Lack of awareness and training