LONDON–(BUSINESS WIRE)–Nov 20, 2020–
The new cleanroom technology equipment market research from Technavio indicates Neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Cleanroom Technology Equipment Market 2020-2024 (Graphic: Business Wire)
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“One of the primary growth drivers for this market is the Emphasis on Safety of Working Personnel,” says a senior analyst for the Industrials industry at Technavio.
The demand for better-quality products and the emphasis on safety of working personnel are the key factors fueling the growth of this market. The development of new biologics and their increasing use in the medical devices industry, along with growing demand for sterilized pharmaceutical formulations, is also driving the expansion of the market. The demand from the pharmaceutical and biotechnology industries is anticipated to aid market growth during the forecast period. In both these industries, production should be geared toward effective control of any contamination, whether from people, raw materials, or finished products along with process plant and equipment and accommodating services. Cleanroom technology serves the purpose as it enables a controlled environment to arrest contamination from pollutants such as dust, microbes, airborne particles, chemical vapor, and water vapor.
As the markets recover, Technavio expects the cleanroom technology equipment market size to grow by USD 1.36 billion during the period 2020-2024.
Cleanroom Technology Equipment Market Segment Highlights for 2020
- The cleanroom technology equipment market is expected to post a year-over-year growth rate of 4.14%.
- The increasing number of biotech, pharmaceutical, and medical device companies facilitating the use of disposable protective clothing is contributing to the cleanroom technology equipment market by the consumables segment.
- Some of the consumables are gloves and sleeves, facemasks, coveralls and coats, hoods and beard covers, and overshoes and overboots.
- The cleanroom technology equipment market share growth by the consumables segment will be faster than the growth of the market by the equipment segment.
Regional Analysis
- 37% of the growth will originate from the APAC region.
- The growing adoption of technologically advanced medical equipment, the increasing prevalence and incidence of chronic respiratory diseases, and the rising number of COVID-19 cases. will significantly drive cleanroom technology equipment market growth in this region over the forecast period.
- China is the key market for cleanroom technology equipment in APAC. Market growth in this region will be faster than the growth of the market in North America and Europe.
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Related Reports onIndustrialsInclude:
Global Cleanroom Consumables Market: The cleanroom consumables market size has the potential to grow by USD 2.64 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
Notes:
- The cleanroom technology equipment market size is expected to accelerate at a CAGR of almost 6% during the forecast period.
- The cleanroom technology equipment market is segmented by Product (Consumables and Equipment) and Geographic (North America, APAC, Europe, South America, and MEA).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Alpiq Holding Ltd., Ansell Ltd., Ardmac, Azbil Corp., Clean Air Products, CME Corp., Connect 2 Cleanrooms Ltd., Exyte Group, Kimberly-Clark Corp., and Taikisha Ltd.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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KEYWORD:
INDUSTRY KEYWORD: SCIENCE OTHER SCIENCE RESEARCH HEALTH MEDICAL DEVICES CHEMICALS/PLASTICS MANUFACTURING CLINICAL TRIALS
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 11/20/2020 04:15 PM/DISC: 11/20/2020 04:15 PM
Copyright Business Wire 2020.
