Cleanroom Consumables Market to gain US$3.04 bn by 2023

The global cleaner consumables market is fragmented and since the growth opportunities in this market is vast, it is attracting a lot of new entrants. The existence of a large number of global players as well as a few regional ones threatening the presence of new entrants to some extent, states Transparency Market Research (TMR) in its latest research report on the global cleanroom consumables market. New entrants are also expected to face challenges in the form of stringent regulatory restrictions and requirement of high capital investment. The names of the leading companies which holds considerable shares in the market are Kimberly-Clark Corporation, Nitritex Ltd., and Texwipe.

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According to Transparency Market Research, the global cleanroom consumables market is anticipated to be worth US$3.04 bn by 2023. On the basis of product, gloves is witnessing high demand. The glove segment is also anticipated to expanded the fastest pace in the years to come. On the basis of application, the biotechnology industry is leading. The biotechnology industry segment is anticipated to cross US$1 bn by the end of the forecast period.

Asia Pacific Witnessing Robust Growth in Cleanroom Consumables Market

In terms of geography, North America is leading followed by Europe. However, these regions are mature markets for cleanroom consumables and are therefore expected to exhibit sluggish growth in the years to come. Asia-pacific, on the other hand, is anticipated to exhibit a robust growth in the years to come on account of the fast developing healthcare sector, rising medical tourism, increasing geriatric population, and the escalating prevalence of various chronic diseases and obesity among others.

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Introduction of Sustainable Nanotechnology Boosting Growth of Market

According to the lead author of this report, “one of the key factors boosting the growth of the cleanroom consumables market is the introduction of sustainable nanotechnology in the healthcare sector. Manufacturers of medical devices have increased manifolds in the last few years as a result of the rising demand for advanced devices. This in turn has led to a stupendous demand for cleanroom consumables. The demand for cleanroom consumables is also increasing from the biological drug sector.

Lack of Global Standard Acting as Challenge

On the other hand, strict regulatory standards which are pushing manufacturers to create top quality cleanroom consumables will act as a double-edged sword. There is no one global standard in the regulations and mandates and each region has its own regulations. This is expected to be the biggest challenge of the global cleanroom consumables market. On a bright note however, it is expected that setting up manufacturing plants in the developing nations of Asia Pacific will prove to be lucrative for market players within the global cleanroom consumables market.

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About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.