Global Cleanroom Consumables Market Analysis and Forecast 2015 - 2023 Explored in Latest Research

Cleanroom Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023

The growing applications of nanotechnology in electronic medical devices have created a highly positive mark on the global market for cleanroom consumables, making these devices an inseparable part of the healthcare industry. Numerous medical device manufacturers and CMOs have formed over the past years in China, increasing the demand for medical electronic components and devices. The Asia Pacific region as a whole is also adhering to stringent regulatory norms, further increasing the need for advanced and compliant devices and processes in cleanroom consumables.

The regulatory restrictions are also being strengthened for processing and manufacture of biological drugs that are used for fighting the growing prevalence of chronic illnesses. Biological drugs have proven themselves as a better option against chronic diseases and the resultant growth in demand has to be met by a growth in the number of cleanrooms owned by pharmaceutical companies.

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It is, however, the complicated nature of the stringent regulatory norms themselves that are also restricting the growth of cleanroom consumables from the perspective of international trade. The regulations differ vastly from region to region, thereby disallowing many types of cleanroom consumables to be exported or imported.

The resultant effect of all such factors of influence reflect in the estimated 4.76% CAGR shown by the global cleanroom consumables market from 2015 to 2023. This market is expected to be valued at US$2.21 bn by the end of 2016 and US$3.04 bn by 2023.

North America, Europe Cleanroom Consumables Demand Growth Slows Down

While North America and Europe have consistently led the consumption rate of cleanroom components, the market in both regions has reached maturity, therefore showing a sluggish rate of growth over the coming years. On the other hand, Asia Pacific, with its robust growth rate in the healthcare and pharmaceutical industries, is quickly proving to be a hotbed of activities in many advanced medical fields and applications. This includes the latest components to arrive in the cleanroom consumables market.

By the end of 2023, North America will hold the leading share of 34% in cleanroom consumables value, followed by Europe. The share held by Asia Pacific is expected to increase till 2023 due to a rapidly increasing demand. Additionally, the rest of the world, which includes the MEA and Latin America, is showing a weaker growth rate owing to the low number of in-house manufacturing and research facilities.

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Biotech Applications of Cleanroom Consumables Set to Increase

By the end of 2023, approximately US$1 bn is expected to be generated from the use of cleanroom consumables in the field of biotechnology. The demand for cleanroom consumables in biotechnology is always expected to be very high, owing to the high growth rate of biotech research and development activities in the world, coupled with the strict regulatory norms. Both factors have pushed up the demand for cleanroom consumables in biotechnology. Over the recent past, the number of cleanrooms owned by companies has increased significantly enough to expect similar demand in the coming years.

The method of diagnosis has changed significantly with the advent of advanced devices such as monitors, multi-parameter patient monitors, blood glucose monitors, and wearable medical devices. With the growing market penetration and the growing instances of most chronic diseases, the growing healthcare sector is in need of cleanroom consumables.

The key providers of cleanroom consumables across the world include Kimberly-Clark Corporation, Texwipe, Nitritex Ltd., Valutek, DuPont, Contec, Inc., KM Corporation, Micronclean (skegness) Limited, and Micronova Manufacturing, Inc.

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by Pooja M (few months ago!)

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