World News: 14:53 GMT Tuesday 3rd December 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.The cleanroom technologies market is projected to reach USD 7.94 billion by 2024 from USD 5.76 billion in 2019, at a CAGR of 6.6% during the forecast period.
The stringent regulatory framework, growth of the biologics sector, rising demand for sterilized pharmaceutical formulations, growing demand for medical devices, and technological advancements in cleanroom technology are the primary growth factors for this market. The increasing demand in developing economies and the growing focus on energy-efficient cleanrooms are expected to offer significant growth opportunities for players in this market. However, the customization of cleanroom designs according to product and facility requirements is a major market challenge.Based on the product, the cleanroom technologies market is segmented into consumables, equipment, and controls. The consumables segment is projected to witness the highest growth in the cleanroom technologies market during the forecast period. Growth in this segment is driven mostly by the growing number of pharmaceutical, biotech, and medical device companies facilitating the use of disposable protective clothing. Also, the large number of R&D activities in healthcare industry is resulting in a stable demand for cleanroom consumables among end-users. Based on construction type, the cleanroom technologies market is segmented into standard/drywall cleanrooms, hardwall cleanrooms, softwall cleanrooms, and pass-through cabinets. The standard/drywall cleanrooms segment accounted for the largest share of the cleanroom technologies market in 2018. This can be attributed to the traditionally high demand for fixed structures and the need for quick onsite construction among end-users. However, this trend is changing, and there is a higher demand for hardwall cleanrooms, as they are more design-flexible than standard and softwall cleanrooms, quick and easy to install, freestanding for easy portability, and easy to expand or reconfigure.The biotechnology end-user industry segment is expected to grow at the highest CAGR during the forecast period, primarily due to the growing demand for biologics and biosimilars. Increasing investments in biotechnology are expected to provide an impetus to the growth of the segment over the forecast period. North America accounted for the largest share of the cleanroom technologies market in 2018. Factors such as stringent regulatory standards for product approvals, technological advancements in cleanrooms, initiatives taken by private organizations to create awareness regarding cleanrooms, and growth of the healthcare sector on a global scale are among the few factors expected to contribute to the growth of this market.
This report analyzes the market for various cleanroom products and their adoption patterns. It aims at estimating the market size and future growth potential of the global cleanroom technologies market and its product, construction type, end-user, and regional segments. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening their market presence.
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Globe Newswire: 14:53 GMT Tuesday 3rd December 2019
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