World Biological Safety Cabinet Market to See 7% CAGR to 2020
PUNE, India, April 5, 2016 /PRNewswire/ --
Significant investments made in the field of R&D in last twenty years are driving global biological safety cabinet market growth. For instance, China will emerge as the global force when it comes to R&D and has plans to invest 2.5% of its GDP on research. With continuing emphasis on knowledge expansion and innovation, the trend of increasing spending on R&D will continue over the forecast period. The increase in R&D activities will lead to the setting of new and expansion of existing research facilities, which will, in turn, result in an augmented demand for biological safety cabinets during the forecast period.
Complete report on biological safety cabinet market spread across 63 pages, analyzing 5 major companies and providing 21 data exhibits is now available at http://www.reportsnreports.com/reports/521048-global-biological-safety-cabinet-market2016-2020.html
The analysts forecast global biological safety cabinet market to grow at a CAGR of 7.02% during the period 2016-2020. The rapid growth of the e-commerce industry has opened up a whole new world of opportunities for laboratory equipment manufacturers with respect to supply and expansion. This channel has largely contributed to the growth of the biological safety cabinet market with almost 35% of the global sales and orders of laboratory equipment coming through e-commerce retailers.
The biological safety cabinet market report analyst said factors such as the widespread adoption of automation in laboratories for sample preparation, storage, and movement of sample and equipment is both cost effective and saves time. Automation in labs allows for efficient workflow with less need for human input, thereby minimizing errors and levels of contamination. Also, the digital interfaces on the cabinets allow for easy control of various factors within the cabinet, thereby reducing the complexity of operation. The rising demand for automation in laboratories will bolster this market's growth potential during the forecast period. Order a copy of Global Biological Safety Cabinet Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=521048
In this market study, the analysts have estimated the Americas to be the largest biological safety cabinet market and are expected to reach close to USD 51 million by the end of 2020. Factors like large investments in research and testing in this region will spur the prospects for market growth until the end of the forecast period. The market for biological safety cabinet will account for a market share of approximately 32% by 2020.
The biological safety cabinet market is highly fragmented due to the presence of several large and small players. The competitive environment is expected to intensify due to an increase in product extensions, new product launches, and new applications of integrated product offerings. The market is expected to remain competitive with all the players competing to gain more market share.
Key players in the global biological safety cabinet market: ESCO Technologies, LABCONCO, Polypipe, The Baker Company, and Thermo Fisher Scientific. Other prominent vendors in the market are: ACMAS Technologies, AirClean Systems, Air Science, Azbil Telstar, Aztec Microflow, Bassaire, Cruma, Flow Sciences, Germfree, and Haldeman Homme.
Further, the biological safety cabinet market report states that the specific features of the product catering to a niche end-user market make it difficult for vendors to market these products on a wide scale. Unlike other testing equipment, brand and product visibility have a limited role in the sale of these devices.
Another related report is Global Laboratory Automation Market 2015-2019: analysts forecast global laboratory automation market to grow at a CAGR of 5.48% over the period 2014-2019. Browse complete report @ http://www.reportsnreports.com/reports/420130-global-laboratory-automation-market-2015-2019.html
Key players in the global laboratory automation market: Danaher, PerkinElmer, Tecan Group and Thermo Fisher. Other prominent vendors in the market are: Abbott Diagnostics, Agilent Technologies, Aurora Biomed, Becton, Dickinson and Co., bioMérieux, Biotek Instruments, Brooks Automation, Cerner, Eppendorf, Hamilton Storage Technologies, LabVantage Solutions, Labware, Olympus, Qiagen, Roche Holding, Sartorius Stedim-Biotech, Siemens Healthcare, Sotax and Xtri.
Explore other new reports on Medical Devices Market @ http://www.reportsnreports.com/market-research/medical-devices/
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