According to FutureWise analysis the market for biological safety cabinets in 2023 is US$ 0.22 billion, and is expected to reach US$ 0.41 billion by 2031 at a CAGR of 8.4%.
The rising pandemic risks across the world, favorable healthcare regulations and rapid expansion of pharmaceutical companies and biologics are some of the key factors responsible for the growth of the market. Biologics is required for patient safety and efficacy in pharma and biotech industries as drug contamination at a microbial level can cause severe effects on the health of patients with respect to mortality and morbidity along with other severe long-term effects like cancer. As per the WHO in 2018, over 10 million people were infected with tuberculosis across the world, out of which over 5.8 million people were men, over 3 million people were women and over 1 million were children. Furthermore, technological advancements in biologics, growing investments in the healthcare sector along with increased R D activities are some other factors responsible for the biological safety cabinets market growth.