Surge in Infectious Diseases is projected to drive the Demand for Laboratory Hoods and Enclosure Market

Increasing cases of infectious diseases are the leading cause of death worldwide, especially in low-income countries. Infectious diseases affected by organisms, such as viruses, parasites, fungi, and bacteria, are directly or indirectly passed from one person to another.  Clinical laboratories utilize different methods to perform analysis through a range of tests and assays required for diagnosis and monitoring of infectious diseases.  Consequently, rising infectious diseases worldwide are leading to upsurge in the number of laboratories across the globe, which is driving the growth of the global laboratory hoods and enclosure market.

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Data Bridge Market Research analyses that the laboratory hoods and enclosure market is expected to grow at a CAGR of 7.7% in the forecast period of 2021 to 2028 and is expected to reach USD 1,104.79 million by 2028. Various teaching/educational sessions, awareness campaigns, and conferences are expected to inform people with life-threatening diseases; eventually, increasing the number of diagnostic tests and drug development activities around the world, boosting the demand for laboratory hoods and enclosure. Therefore, raising awareness about diagnosis and treatment of the disease is acts as a driving factor for the growth of the global laboratory hoods and enclosure market.

Key Findings of the Study

• The laboratory hoods and enclosure market is anticipated to reach a value of USD 1,104.79 million by 2028, with a CAGR of around 7.7% during the forecast period from 2021 to 2028.
• North America dominated the laboratory hoods and enclosure market owing to the increasing healthcare expenditure.
• The pharmaceutical companies segment in the end user is expected to dominate the market growing with the highest CAGR of 9.2% due to growing research and development activities.
• Asia-Pacific is expected to grow during the forecast period due to the rising technological advancements in this region.

Surge in Early and Accurate Disease Diagnosis globally is expected to drive the market's growth rate

Growing demand for early and accurate disease diagnosis directly impacts the demand for laboratory hoods and enclosure. Early diagnosis usually increases the chances of a successful treatment. By the early diagnosis, patients will know the accurate condition of their disease, which will help them in further treatment. Delay in the diagnosis will harm their health, which may result in the worsening of the condition.  Delays in accessing cancer care are very common in the late-stage presentation, especially in lower vulnerable populations and resource settings. Easy cancer diagnostics has changed for the treatment and identification of symptomatic patients as early as possible. Inaccessible or delayed cancer care creates consequences of survival, higher costs of care, and treatment morbidity result in less disability and deaths from cancer. Early and accurate diagnosis improves cancer results through care as early as a possible stage. Early diagnosis aims at reducing the percentage of patients diagnosed at a late stage, due to which rise in demand for early and accurate disease diagnosis will enhance the demand for laboratories, and consequently act as a driver to the growth of the global laboratory hoods and enclosure market.

Report Scope and Market Segmentation

Segment Analysis:

The global laboratory hoods and enclosure market is segmented based on the product, modularity, material, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• On the basis of product, the global laboratory hoods and enclosure market is segmented into Ventilated Balance Enclosures (VBEs), biological safety cabinets, laminar flow cabinets, enclosures, hoods, and others. In 2021, the hoods segment is expected to dominate the global laboratory hoods and enclosure market growing with the CAGR of 9.1%

The hoods segment is expected to dominate the growing with the CAGR of 9.1%

In 2021, the hoods segment is expected to dominate the global laboratory hoods and enclosure market growing with the CAGR of 9.1% in the forecast period of 2021 to 2028 due to the advanced technology utilized to make the hood.

• On the basis of modularity, the global laboratory hoods and enclosure market is segmented into benchtop and portable. In 2021, the benchtop segment is expected to dominate the global laboratory hoods and enclosure market growing with the CAGR of 7.8% in the forecast period of 2021 to 2028 due to the increase in awareness among accurate diagnoses, increasing its demand across the globe.
• On the basis of material, the global laboratory hoods and enclosure market is segmented into PVC, stainless steel, and others. In 2021, the stainless steel segment is expected to dominate the global laboratory hoods and enclosure market growing with the CAGR of 8.1%

The stainless steel segment is expected to dominate the growing with the CAGR of 8.1%

In 2021, the stainless steel segment is expected to dominate the global laboratory hoods and enclosure market growing with the CAGR of 8.1% in the forecast period of 2021 to 2028 due to its properties, including rigidity and strength.

• On the basis of end user, the global laboratory hoods and enclosure market is segmented into pharmaceutical companies, research institutes, academic centers, and others. In 2021, the pharmaceutical companies segment in the end user is expected to dominate the market growing with the highest CAGR of 9.2% in the forecast period of 2021 to 2028 due to growing research and development activities to find the solutions to various emerging infectious diseases and prevent personnel from LAIs.

Major Players

Data Bridge Market Research recognizes the following companies as the major laboratory hoods and enclosure market players in laboratory hoods and enclosure market are Thermo Fisher Scientific (U.S.)., WALDNER Holding GmbH & Co. KG (Germany), Köttermann GmbH (Germany), SHIMADZU RIKA CORPORATION (Japan), Yamato Scientific co., ltd. (Japan), Nuaire (U.S.), Sentry Air Systems, Inc. (U.S.), Sheldon Laboratory Systems (U.S.), Bigneat Ltd. (U.K.), Royston Group | Hamilton Lab Solutions (U.S.), Mott Manufacturing Ltd. & Mott Manufacturing LLC. (Canada), Terra Universal, Inc. (U.S.), Labconco (U.S.), Esco Micro Pte. Ltd. (Singapore), Flow Science Inc. (U.S.), Air Science U.S. LLC(U.S.), LOC SCIENTIFIC(U.S.), Monmouth Scientific Limited (U.K.) and Kewaunee International Group (India).

Market Development

• In 2021, Labconco underwent partnership with the National Arbor Day Foundation and planted its 10,000th tree in February. Labconco planted tree for every Echo Filtered Fume Hoods ordered. This green initiative to plant a grove of trees for every Protector Echo Filtered Fume Hood that’s ordered helped the company to recognize globally for its environmental approach and has increased the growth of the company.
• In 2021, Caron Products and Services completed the acquisition of Bigneat, which includes laboratory fume hoods, controlled atmosphere enclosures, and robotic and automation enclosures. The combination of strong European network and Caron's market leadership in the U.S. provides immediate opportunities to both businesses to better serve customers.
• In May 2021, Labconco launched newly updated Axiom Biosafety Cabinets with exclusive features. This product launch created persistence revenue flow for the company.
• In February 2021, Thermo Fisher Scientific Inc. acquired leading cell sorting technology from Propel Labs. The high-speed electronics and innovative design of the Bigfoot Spectral Cell Sorter can accelerate sorting by up to 10 times. It also has an integrated Class II biocontainment system that eliminates the need for separate biosafety cabinets. This acquisition will help the company to strengthen leadership in innovative lab equipment.

Regional Analysis

Geographically, the countries covered in the laboratory hoods and enclosure market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in laboratory hoods and enclosure market during the forecast period

North America dominated the laboratory hoods and enclosure market owing to the increasing healthcare expenditure. North America will continue to dominate the laboratory hoods and enclosure market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the surge in infectious diseases across region.

Asia-Pacific is estimated to be the fastest growing region in laboratory hoods and enclosure market

Asia-Pacific is expected to grow during the forecast period due to the rising technological advancements in this region. In addition to this, growing presence of major market players and rising disposable income are expected propel the market's growth rate in this region.

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