Market Trends of Global Biological Safety Cabinet Industry
This section covers the major market trends shaping the Biological Safety Cabinet Market according to our research experts:
Pharmaceutical and Biotechnology Segment is Expected to Hold a Major Market Share in the Biological Safety Cabinet Market
Microbiological quality of drugs or biologics is necessary for pharmaceutical and biotechnology industries for efficacy and patient safety because microbial contamination of drugs causes adverse effects on patient health in terms of morbidity and mortality and as well as long-term adverse effects. Pharma and biopharma companies require a strong Research & Development facility because of which they need advanced facilities and equipment. In September 2021, According to the Federal Research and Development, the government had funded USD 54,565 million to businesses for new scientific development. The pharmaceutical and biotechnology segment is also likely to register significant growth in the forecast period.
As per the centers for disease control and prevention data published in March 2022, A total of 7,860 Tuberculosis cases were reported in 2021, 687 more than in 2020 (7,173) and 1,040 fewer than in 2019 (8,900) in the United States. From 2020 to 2021, Tuberculosis incidence (cases per 100,000 population) rose 9.4%, from 2.16 to 2.37, but remained 12.6% lower than during 2019 (2.71). In 2021, 71% of Tuberculosis cases occurred among non-United States-born persons, the same proportion as in 2020 and 2019. Incidence (cases per 100,000 population) among UniteStates-bornrn persons increased from 0.71 in 2020 to 0.79 in 2021 and among non-United States.-born persons from 11.71 in 2020 to 12.16 in 2021. Thus, the increasing cases of Tuberculosis are driving the demand for biological safety cabinets.
The pharmaceutical and Biotechnology Segment holds a significant market share in the biological safety cabinet market and is anticipated to show a similar trend over the forecast period. Advance technology-based products, increasing research and development activities, and rising investments in the medical sector and life sciences are the key driving factors in the Pharmaceutical and Biotechnology Segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global biological safety cabinet market due to high research and development activities in the pharmaceutical and biotechnology industries and increased risk of pandemic and communicable diseases in this region. For instance, As per the Global Statistics report published in 2021 by the U.S. Department of Health & Human Services and supported by the Minority HIV/AIDS Fund, There were around 37.7 million people across the globe with HIV in 2020. Of these, 36 million were adults and 1.7 million were children aged 0-14 years. More than half (53%) were women and girls. Similarly, According to the World Malaria Report published in 2021 by the Centers for Disease Control and Prevention (CDC), malaria caused an estimated 241 million clinical episodes and 627,000 deaths globally. An estimated 95% of deaths in 2020 were in the World health organization (WHO) African Region. Additionally, According to the World Health Organization, around 71 million people have chronic hepatitis infections around the globe in 2020. While around 223 million people are living with viral hepatitis B and C 617,143 deaths per year are caused by hepatitis B virus infection 7 % of people live with hepatitis B and 19% live with hepatitis C. Moreover, According to the Centers for Disease Control and Prevention article published in 2020, Healthcare-associated infections (HAIs) are complications of healthcare and linked with high morbidity and mortality. Each year, about 1 in 25 U.S. hospital patients is diagnosed with at least one infection related to hospital care alone; additional infections occur in other healthcare settings. Many HAIs are caused by the most urgent and serious antibiotic-resistant (AR) bacteria and may lead to sepsis or death. However, Reports of sexually transmitted diseases dropped in the early months of the pandemic but saw a resurgence toward the end of 2020, according to new data from the Centers for Disease Control and Prevention (CDC). Furthermore, according to the CDC's 2020 STD Surveillance Report, cases of gonorrhea and syphilis were up 10 percent and 7 percent, respectively, at the end of 2020 when compared to 2019. In addition to this, In 2021, As per the world health organization estimates, According to the data, 59,07,572 cases of acute diarrheal diseases were reported in 2021, 89,34,341 cases were recorded in 2020, and 1,76,47,630 such cases were reported in 2019 in India. Thus, rising incidences of chronic diseases and the quick adoption of advanced technologies, in the region further contribute to the regional market growth.
