Lebanon's ministers warned on Thursday that the next 48 hours will be particularly dangerous following two days of exploding communications devices throughout the country that left at least 37 people dead and 3,000 injured in the apparent sabotage.

Members of the country's leadership told CNBC that the risk of escalation is extremely high after thousands of pagers and two-way radios used by members of the Lebanese militant group Hezbollah exploded in a wave of widespread attacks on Tuesday and Wednesday.

"It's definitely a very serious escalation," Lebanon's minister of economy, Amin Salam, told the outlet. "I don't see any act of escalation that will not lead to provocation, and that is what we fear most, because what happened yesterday will only trigger more escalation into the conflict.

"This will be a really, very, very dangerous ... 48 hours that this country will witness to see how the reaction will be," he added.

While Iran-backed Hezbollah has described the blasts as an act of "Israeli aggression,"  Israel has declined to comment.

According to CNBC, Iran's ambassador to Lebanon, Mojtaba Amani, was injured in the attacks, while a son of a Hezbollah member of Parliament was killed.

Hezbollah, a Shiite group that also wields considerable political power in Lebanon, is already carrying out almost daily firefights with Israel, but it has sparked fears of a wider regional conflict with its vow to retaliate.

Salam said the explosions have had the effect of uniting many Lebanese behind Hezbollah who ordinarily would not support the organization.

"It created a massive, massive reaction, even with people in Lebanon that were against Hezbollah — now they are taking a stand more with Hezbollah," he told CNBC. "Yesterday, we witnessed an unparalleled kind of unification among Lebanese political parties towards what happened.

"I think yesterday broke all rules, all borders," Salam added. "It went beyond because in Lebanon, this is considered, you know, an act of terror. ... That's why I'm terribly concerned that this will lead to further violence, and this will definitely escalate the situation."

Lebanon's health minister, Firas Abiad, said the attacks and the resulting casualties rocked the country's hospital system.

"We had around 2,800 patients who presented to the emergency rooms, which eventually we had 12 fatalities," after the first wave of device explosions, Abiad told CNBC.

"We had almost 300 patients in critical conditions and almost 450 patients who required operations for eye injuries, hand injuries, amputations. ... There were more than 90 hospitals that were involved in receiving patients."

Although U.S. officials are reportedly scrambling to cool flaring tensions, Abiad did not seem optimistic that a diplomatic solution could be found.

"The position of the Lebanese government has been very clear from day one that Lebanon does not want war ... we've believed that a diplomatic solution is the best option," Abiad said.

"But, unfortunately, the escalation that we have seen in the last two days ... I'm not sure that this is going to help us reach that diplomatic solution," he told CNBC.

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