Cleanroom Consumables Market: Overview
Chronic diseases such as heart diseases, diabetes, strokes, and chronic respiratory problems are increasing by the dozen. In order to fight them and help in the eradication of such problems, there is a great demand for cleanroom consumables. Electronic medical devices with nanotechnology have become a significant part of the healthcare industry, proving to be a blessing to the global market for cleanroom consumables.
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Biological drugs have time and again demonstrated to be a better option to fight against chronic diseases. Thus, strict regulatory restrictions are being put on the processing and manufacturing of biological drugs used for fighting the growing occurrence of chronic illnesses. Pharmaceutical companies owning cleanroom consumables are growing in number to cater to the growing demand in the market.
There has been an increase in advanced and compliant devices and processes in cleanroom consumables due to strict regulatory norms, which are being religiously followed by Asia Pacific, the growing market share holder of cleanroom consumables.
In the report, Transparency Market Report (TMR) provides a detailed analysis of drivers and restrictions in the cleanroom consumables market. It also delivers insight to the segments and regions of the market.
Cleanroom Consumables Market: Drivers and Restrictions
The healthcare sector essentially needs cleanroom consumables as the rate of chronic illnesses is increasing manifold. By the growing use of cleanroom consumables in the field of biotechnology, roughly US$1 bn is expected to be generated by the end of 2023 from the said field. All across the globe, biotech research and developments activities have multiplied, hence increasing the demand for cleanroom consumables. Strict regulatory norms have also pushed the demand for cleanroom consumables. There has also been a significant rise in the number of companies manufacturing cleanroom consumables to counter the demand in the years to come. Also, advanced devices such as monitors, blood glucose monitors, multi-parameter patient monitors, and wearable medical devices have changed the method of diagnosis considerably.
One of the major factors restricting the growth of cleanroom consumables is international trade. Regulatory norms differ from country to country, prohibiting many types of cleanroom consumables to be imported or exported. This poses several trade challenges for vendors, thereby impeding the growth of this market.
The above factors can be accounted for the estimated 4.76% CAGR shown by the global cleanroom consumables market from 2015 to 2023. The cleanroom consumables market was valued at US$2.21 bn by the end of 2016 and is expected to be valued at US$3.04 bn by 2023.
Global Cleanroom Consumables Market: Regional Outlook
The consumption rate of cleanroom consumables has always remained high in North America and Europe. According to the report, it is estimated that, by the end of 2023, North America will hold the leading share of 34% in cleanroom consumables value, with Europe following suit. However, in spite of leading the market, the two regions will show a sluggish rate of growth in the coming years as they have reached their prime.
On the other hand, with its strong growth rate in the healthcare and pharmaceutical industries, Asia Pacific is quickly proving to be a hotbed of activities in many advanced medical fields and applications, which also includes up-to-date components to enter the cleanroom consumables market. Due to rapidly increasing demand, Asia Pacific is projected to hold a large share in the market in the years to come.
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Owning to the small number of research facilities and in-house manufacturers, the growth rate is expected to be slow in the Rest of the World, which includes Latin America and the MEA.
Companies Mentioned in Report
The key players in the cleanroom consumables market are Berkshire Corporation, Thermo Fisher Scientific, Cantel Medical, Nitritex Ltd., Contec, Inc., DuPont, Kimberly-Clark Corporation, KM Corporation, Micronova Manufacturing, Inc., Texwipe, Valutek, and Micronclean (skegness) Ltd.
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