South Korea Biological Safety Cabinet Market Size & Outlook
South Korea biological safety cabinet market, 2018-2030 (US$M)
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South Korea biological safety cabinet market highlights
- The South Korea biological safety cabinet market generated a revenue of USD 1.9 million in 2023 and is expected to reach USD 3.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, class ii was the largest revenue generating product in 2023.
- Class I is the most lucrative product segment registering the fastest growth during the forecast period.
Biological safety cabinet market data book summary
| Market revenue in 2023 | USD 1.9 million |
| Market revenue in 2030 | USD 3.2 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Class ii |
| Fastest growing segment | Class I |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Class I, Class II, Class III |
| Key market players worldwide | Thermo Fisher Scientific Inc, Nuaire, Labconco, The Baker Company, Azbil Corp, Biobase Group, Germfree Laboratories Inc, Air Science, Haier Biomedical |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.9% of the global biological safety cabinet market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biological safety cabinet market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 21.5 million by 2030.
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Biological Safety Cabinet Market Scope
Biological Safety Cabinet Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea biological safety cabinet market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biological safety cabinet market will help companies and investors design strategic landscapes.
Class ii was the largest segment with a revenue share of 63.16% in 2023. Horizon Databook has segmented the South Korea biological safety cabinet market based on class i, class ii, class iii covering the revenue growth of each sub-segment from 2018 to 2030.
In March 2017, the country inaugurated its first BSL-4 laboratory in Osong. This facility is equipped with many advanced equipment, which is anticipated to contribute towards the market growth.
As of March 16, 2020, the country had 4,812 confirmed cases of COVID-19. In addition, The Korea Centers for Disease Control and Prevention released biosafety guidelines for management of COVID-19.
As per the guidelines, any kind of work which can potentially cause aerosol occurrence was mandated to be conducted in the biosafety platforms belonging to class II and/or above. Such supportive government initiatives coupled with high prevalence of infectious diseases is anticipated to favor the market growth.
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Our clientele includes a mix of biological safety cabinet market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea biological safety cabinet market , including forecasts for subscribers. This country databook contains high-level insights into South Korea biological safety cabinet market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea biological safety cabinet market size, by product, 2018-2030 (US$M)
South Korea Biological Safety Cabinet Market Outlook Share, 2023 & 2030 (US$M)
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