Global cleanroom technology market to be worth US$4.29bn by 2020, report forecasts
North America is the largest market segment owing to technological advances
The global cleanroom technology market is expected to grow at a CAGR of 5.2% from 2014 to 2020 to $4.29bn, according to a new market report from Persistence Market Research.
The Global Market Study on Cleanroom Technology: Consumables to Witness Highest Growth by 2020, says that globally, the cleanroom technology market is growing significantly due to regulatory concerns over the packaging, manufacturing, and processing of better-quality products, and the safety of workers.
Growth is also being driven by increasing demand for sterilised pharmaceutical formulations, and the development of new biologics and their wide applications in the medical devices industry.
But factors such as the lack of skilled professionals and the high cost associated with the setting up and maintenance of cleanrooms are restraining the growth of the market.
North America is the largest market segment due to technological advancements and growing applications of cleanroom technology in the region, the report finds. The market was valued at $1.21bn in 2014 and is expected to reach $1.58bn by 2020, growing at a CAGR of 4.6%.
Asia is expected to experience high growth in the future owing to an improving healthcare infrastructure, rising popularity of certified products, and the increasing adoption of cleanroom technology by the healthcare industry in Asian countries.
Cleanroom consumables are the fastest-growing segment, while in terms of construction, the standard/drywall cleanroom is the largest area, according to the report.
