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Lateral Flow Diagnostic Tests Market | Analysis & Key Trends 2023
Analysts at TMR expect this demand remain increasing over the next few years. According to TMR, the opportunity in healthcare cleanroom consumables will expand at a CAGR of 4.76% during the period from 2015 to 2023, rising from an approximate value of US$2 bn in 2014 to US$3 bn by 2023.
Increasing Commercialization of Biotechnology-based Products to Boost Demand for Cleanroom Consumables in Biotechnology
Cleanroom consumables find widespread application in the medical and healthcare industry, specifically, in biotechnology, pharmaceuticals, medical devices, and other areas such as hospitals and academia. Biotechnology surfaced as the key application area of these consumables in 2014, holding a share of 33% in the overall consumption.
The increase in research and development as well as commercialization of biotechnology-based products for the treatment of chronic diseases such as cancer and various other neurological disorders is boosting the demand for cleanroom consumables in the field of biotechnology. The segment is likely to remain the foremost application area of these consumables in the coming years.
Analysts estimate the opportunity for cleanroom consumables in biotechnology to increase at a CAGR of 4.91% during the period from 2015 to 2023 and increase from US$0.6 bn in 2014 to US$1.01 bn by the end of 2023.
This exhaustive report includes a 360° view of the Lateral Flow Diagnostic Tests Market. Browse through this 82-page report to know what factors will shape the market during the period 2015-2023
http://www.transparencymarketresearch.com/apac-lateral-flow-diagnostic-tests-market.html
Demand for Healthcare Cleanroom Consumables to Remain High in North America and Europe
The global healthcare cleanroom consumables market is spread across Europe, North America, Asia Pacific, and the Rest of the World. In 2014, North America emerged as the leading consumer of these consumables, accounting for a share of 34%. Europe followed closely with a share of 30%. Being home to the leading pharmaceutical and biotechnology companies, both the regions are expected to maintain their shares as well as positions in this market by the end of 2023.
In North America, the opportunity in healthcare cleanroom consumables is projected to increase from US$0.7 bn in 2014 to US$10.3 bn by 2023, whereas in Europe, it will rise from a US$0.6 bn in 2014 to US$0.9 bn by 2023. Apart from these, Asia Pacific is also anticipated to witness strong growth in the demand for these consumables over the next few years. The market’s opportunity in this region is likely to expand at the fastest CAGR of 5.35% between 2015 and 2023.
The competitive landscape of the global cleanroom consumables market exhibits a highly fragmented structure on account of the presence of a large number of participants. The top three players, namely, Texwipe, Kimberly-Clark Corp., and Nitritex Ltd., collectively accounted for a share of only 36% in the overall market. Valutek, Contec Inc., DuPont, KM Corp., Micronova Manufacturing Inc., and Micronclean Ltd. are some of the other prominent healthcare cleanroom consumable manufacturers across the world.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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