The fume hood market is expected to record a CAGR of 2.8% during the forecast period.
The COVID-19 pandemic had a significant impact on the market. Due to the pandemic, many pharmaceutical companies increased their R&D capacities, which led to the development of more laboratories worldwide. With the increasing number of laboratories, the adoption of fume hoods also increased. For instance, in October 2022, BioNTech SE announced its plans to set up research and manufacturing centers in Australia based on the same technology used to develop the mRNA COVID-19 vaccine. The company and Australia's Victoria state signed a partnership to create a center to conduct clinical research on experimental messenger ribonucleic acid, mRNA, vaccines, and therapies to attract experts worldwide. Such R&D initiatives by various market players boosted the adoption of fume hoods in laboratories. Hence, the COVID-19 pandemic impacted the growth of the market significantly. However, with the pandemic subsiding, the studied market is expected to have stable growth over the forecast period.
Factors such as the rising safety measures of the laboratory by government and private organizations and the increasing investments to develop pharmaceutical laboratory infrastructures are the major factors driving the market's growth. With the increasing demand for developing medicines, the pharmaceutical and biopharmaceutical industry is constantly showing a significant contribution, which is expected to propel the fume hood market.
The increasing prevalence of various chronic and infectious diseases across the world is expected to boost the R&D processes of pharmaceutical companies, which may ultimately lead to increased adoption of fume hoods in research laboratories. For instance, according to the report published by the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancers. In 2022, there were approximately 4,820,000 new cancer cases in China, with the most common being lung cancer.
According to the data published by the Korea Disease Control and Prevention Agency in December 2022, in week 48 of 2022, the overall weekly influenza-like illness (ILI) rate was 15.0%, higher than the 13.9% recorded in the previous week in South Korea. It was also reported that in week 48 of 2022, out of the 271 respiratory specimens, 20 samples (7.4%) were positive for the influenza virus. Hence, the increasing prevalence of such chronic and infectious diseases is expected to increase the expenditure of pharmaceutical companies in R&D, which may lead to increased adoption of fume hoods in their R&D laboratories.
Hence, the increasing prevalence of chronic and infectious diseases is expected to boost the market's growth. However, the high instrument cost is expected to restrict the growth of the fume hood market in the future.
The increasing advantages of ductless fume hoods and the rising prevalence of chronic and infectious diseases worldwide are the major factors driving the segment's growth. For instance, according to a blog post published by Kewaunee International Group, a manufacturer of fume hoods, in August 2022, ductless fume hoods have several advantages over duct fume hoods, such as easy installation and mobility, less energy used, and significantly cheaper compared to ducted variants.
The increasing prevalence of chronic and infectious diseases across the world is expected to increase the expenditure by pharmaceutical companies on R&D, leading to the adoption of technologically advanced products such as ductless fume hoods in research laboratories. For instance, according to the data published by the National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer were recorded in Japan in 2022, out of which 158,200 were new cases of colon/rectum cancer, 132,100 were stomach cancer cases, 128,800 were lung/trachea cancer cases, 96,400 were prostate cancer cases, and 95,000 were breast cancer cases.
According to data published by the WHO in October 2022, an estimated 227,153 specimens were processed for testing influenza in Australia in 2022, and 11,382 specimens were found to be positive. Thus, the rising prevalence of diseases such as influenza and HIV is expected to boost the R&D activities of pharmaceutical companies, which may boost the adoption of technologically advanced products such as ductless fume hoods in R&D laboratories.
According to the data updated by the Asthma and Allergy Foundation of America in April 2022, approximately 25 million people in the United States have asthma, equalling about 1 in 13 people, and about 20 million US people aged 18 and older have asthma. Hence, the high prevalence of chronic diseases like asthma in the United States is expected to increase the adoption of fume hoods in laboratories.
The rising prevalence of chronic diseases like cancer is also expected to boost the R&D expenditure of pharmaceutical companies, leading to the increasing adoption of fume hoods in research laboratories. For instance, according to the report published by the American Cancer Society in 2022, an estimated 1.9 million new cancer cases were diagnosed in the United States in 2022. According to the Canadian Cancer Society data published in November 2022, 233,900 people were to be diagnosed with cancer in 2022. This growing incidence is largely due to Canada’s growing and aging population and emphasizes the importance of cancer prevention.
Hence, the fume hood market is expected to grow in North America due to the development of technologically advanced products and the increasing burden of occupational, chronic, and infectious diseases.
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The COVID-19 pandemic had a significant impact on the market. Due to the pandemic, many pharmaceutical companies increased their R&D capacities, which led to the development of more laboratories worldwide. With the increasing number of laboratories, the adoption of fume hoods also increased. For instance, in October 2022, BioNTech SE announced its plans to set up research and manufacturing centers in Australia based on the same technology used to develop the mRNA COVID-19 vaccine. The company and Australia's Victoria state signed a partnership to create a center to conduct clinical research on experimental messenger ribonucleic acid, mRNA, vaccines, and therapies to attract experts worldwide. Such R&D initiatives by various market players boosted the adoption of fume hoods in laboratories. Hence, the COVID-19 pandemic impacted the growth of the market significantly. However, with the pandemic subsiding, the studied market is expected to have stable growth over the forecast period.
Factors such as the rising safety measures of the laboratory by government and private organizations and the increasing investments to develop pharmaceutical laboratory infrastructures are the major factors driving the market's growth. With the increasing demand for developing medicines, the pharmaceutical and biopharmaceutical industry is constantly showing a significant contribution, which is expected to propel the fume hood market.
The increasing prevalence of various chronic and infectious diseases across the world is expected to boost the R&D processes of pharmaceutical companies, which may ultimately lead to increased adoption of fume hoods in research laboratories. For instance, according to the report published by the Chinese Medical Journal in March 2022, China is experiencing a greater incidence of cancers. In 2022, there were approximately 4,820,000 new cancer cases in China, with the most common being lung cancer.
According to the data published by the Korea Disease Control and Prevention Agency in December 2022, in week 48 of 2022, the overall weekly influenza-like illness (ILI) rate was 15.0%, higher than the 13.9% recorded in the previous week in South Korea. It was also reported that in week 48 of 2022, out of the 271 respiratory specimens, 20 samples (7.4%) were positive for the influenza virus. Hence, the increasing prevalence of such chronic and infectious diseases is expected to increase the expenditure of pharmaceutical companies in R&D, which may lead to increased adoption of fume hoods in their R&D laboratories.
Hence, the increasing prevalence of chronic and infectious diseases is expected to boost the market's growth. However, the high instrument cost is expected to restrict the growth of the fume hood market in the future.
Key Market Trends
Ductless Fume Hood Segment is Expected to Hold Significant Market Share During the Forecast Period
A ductless fume hood is an alternative to conventional fume hoods. This type of fume hood utilizes carbon or HEPA filtration to protect laboratory personnel from toxic chemical fumes, odors, and particles. It has several advantages over duct fume hoods, such as a plug-and-play feature, mobility, hassle-free installation, and no lab work interruption.The increasing advantages of ductless fume hoods and the rising prevalence of chronic and infectious diseases worldwide are the major factors driving the segment's growth. For instance, according to a blog post published by Kewaunee International Group, a manufacturer of fume hoods, in August 2022, ductless fume hoods have several advantages over duct fume hoods, such as easy installation and mobility, less energy used, and significantly cheaper compared to ducted variants.
The increasing prevalence of chronic and infectious diseases across the world is expected to increase the expenditure by pharmaceutical companies on R&D, leading to the adoption of technologically advanced products such as ductless fume hoods in research laboratories. For instance, according to the data published by the National Cancer Center Japan in June 2022, an estimated 1,019,000 new cases of cancer were recorded in Japan in 2022, out of which 158,200 were new cases of colon/rectum cancer, 132,100 were stomach cancer cases, 128,800 were lung/trachea cancer cases, 96,400 were prostate cancer cases, and 95,000 were breast cancer cases.
According to data published by the WHO in October 2022, an estimated 227,153 specimens were processed for testing influenza in Australia in 2022, and 11,382 specimens were found to be positive. Thus, the rising prevalence of diseases such as influenza and HIV is expected to boost the R&D activities of pharmaceutical companies, which may boost the adoption of technologically advanced products such as ductless fume hoods in R&D laboratories.
North America is Expected to Hold Significant Share in the Market During the Forecast Period
North America is expected to have a significant share in the fume hood market, owing to technologically advanced products and the increasing burden of occupational, chronic, and infectious diseases.According to the data updated by the Asthma and Allergy Foundation of America in April 2022, approximately 25 million people in the United States have asthma, equalling about 1 in 13 people, and about 20 million US people aged 18 and older have asthma. Hence, the high prevalence of chronic diseases like asthma in the United States is expected to increase the adoption of fume hoods in laboratories.
The rising prevalence of chronic diseases like cancer is also expected to boost the R&D expenditure of pharmaceutical companies, leading to the increasing adoption of fume hoods in research laboratories. For instance, according to the report published by the American Cancer Society in 2022, an estimated 1.9 million new cancer cases were diagnosed in the United States in 2022. According to the Canadian Cancer Society data published in November 2022, 233,900 people were to be diagnosed with cancer in 2022. This growing incidence is largely due to Canada’s growing and aging population and emphasizes the importance of cancer prevention.
Hence, the fume hood market is expected to grow in North America due to the development of technologically advanced products and the increasing burden of occupational, chronic, and infectious diseases.
Competitive Landscape
The fume hood market is fragmented and consists of several major players. Companies are adopting growth strategies to increase their presence in the market. In terms of market share, a few of the major players are currently dominating the market, including Waldner Inc., Labconco Corporation, ThermoFisher Scientific, Airclean Systems Inc., Hemco Corporation, NuAire, Erlab, Flow Science Inc., and Air Science.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Air Science
- Airclean Systems Inc.
- Erlab
- Flow Sciences Inc.
- Hemco Corporation
- Labconco Corporation
- NuAire
- ThermoFisher Scientific
- Thomas Scientific
- Waldner Inc.
Methodology
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