Healthcare Cleanroom Consumables Market is likely to exhibit growth at a CAGR of 4.76% during the period from 2015 to 2023
TMR estimates that the healthcare cleanroom consumables market features fragmented and highly competitive vendor landscape. The large number of companies present in the market is leading to increase level of competition in the global market. Some of the key players dominating the global healthcare cleanroom consumables market are Valutek, Texwipe, Nitritex Ltd., DuPont, and Kimberly-Clark Corp. These key players collectively accounted for 52% of the overall revenue. Additionally, the key players are getting benefit from commercialization of products coupled with implication of cost-cutting measures during manufacturing. However, lack of product differentiation is creating challenge for key players. Thus, the players are increasingly trying to offer products at competitive pricing, and in turn, the intense price war is taking shape on a global level.
The analysts at TMR estimates, the global healthcare cleanroom consumables market is likely to exhibit growth at a CAGR of 4.76% during the period from 2015 to 2023. At this growth rate, the market is likely to reach a valuation of US$3 bn by 2023 from rising from a valuation of US$2 bn in 2014. This growth is attributable to rising need for new and effective drugs.
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On the basis of applications, the market is dominated by the segment of biotechnology and is estimated to remain dominant in the coming years. On the basis of geography, the market in North America is estimated to be the leading region in terms of revenue and to be dominant in coming years. The regional market stood at the US$0.7 bn in 2014 and is expected to grab a value of US$10.3 bn by the end of 2023. The Europe is expected to account for second-leading share and is estimated to grab a value of US$0.9 bn by 2023 from a value of US$0.6 bn in 2014. This growth is attributable to high demand for cleanroom consumables in the region coupled with increasing demand from the pharmaceuticals and biotechnology industry.
Booming Research Activities in Healthcare Drives Market Growth
The healthcare cleanroom consumable market has gained pace from past few years as the external factors such as chemicals, vapors, dust and other microorganisms in air is lowering the production capacity. Additionally, these external factors influence negatively on the products and facilities of drugs and medical devices. Thus, demand for the cleanroom consumables especially in the healthcare is growing substantially, which in turn is propelling growth of the healthcare cleanroom consumable market.
Cleanroom consumables have robust applications in the healthcare and medical industry as the importance of cleanliness is higher in the sector, which is benefiting growth of the global healthcare cleanroom consumable market. The other sectors of the healthcare industry such as pharmaceuticals, devices, and hospitals are driving growth of the global healthcare cleanroom consumable market. Additionally, high demand for the cleanroom consumables from biotechnological labs is high as the devices can easily get affected due to organisms in the room or air. This is key factors driving growth of the healthcare cleanroom consumable market and is expected to be major factors influencing growth in coming years.
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Need of High Investment Restrains Market Growth
However, requirement of high investment on healthcare cleanroom consumables and devices is restraining growth of the healthcare cleanroom consumable market. Additionally, availability of customized healthcare cleanroom consumables as per requirement is difficult which is hampering growth to some extent. Further, the healthcare cleanroom consumables such as gloves are not the reusable and require long time for recycling, which creates the challenge for key players. This is another key concerns and major factor slowing the growth of the healthcare cleanroom consumable market. Nonetheless, the continuous research and development coupled with robust investment and commercialization of biotechnological products for development of chronic diseases such as cancer is estimated to offer lucrative opportunities for growth in the healthcare cleanroom consumable market in coming years.
This information is encompassed in the report by TMR, titled, “Healthcare Cleanroom Consumables Market (Product – Wipers (Dry and Wet), Cleanroom Apparels(Coverall, Frock, Boot Cover, Shoe Cover, Bouffant, Sleeves, Pants, Face Masks, and Hood), Cleaning Products (Cleanroom Mops, Buckets, Wringers, Squeegees, Validation Swabs, and Cleaning Chemicals), and Cleanroom Stationery (Paper, Notebook and Adhesive Pads, Binders and Clipboards, and Labels); Application – Pharmaceutical, Biotechnology, Medical Devices, Academia, and Hospitals) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015–2023.”
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