APAC region to clock highest CAGR of 8.2 per cent: MarketsandMarkets report
According to a MarketsandMarkets report, the global cleanroom technology market was valued at $2,726.9 million in 2013 and is expected to grow at a CAGR of 5.5 per cent during the forecast period of 2014 to 2019. The report titled, “Cleanroom Technology Market by Equipment (HVAC System, HEPA Filter, Air Shower, Air Diffuser), Consumables (Apparel, Gloves, Wipes, Disinfectants), Construction (Hardwall, Softwall), and by End User (Pharmaceutical, Biotech) – Global Forecast to 2019”, analyses and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the World (RoW) over the forecast period of 2014-2019.
The global market has experienced steady growth in the past few years mainly attributed to the stringent healthcare regulations, emergence of biologics, growing healthcare industry in the developing countries, and rising application of cleanrooms in medical devices industry. However, high cost associated with installation and use of cleanrooms hinders the growth of healthcare cleanrooms market to a certain extent during the forecast period.
The global market is segmented by technology, by type of construction, end user, and geography. It also discusses the key market drivers, restraints, and opportunities of this market and its submarkets. The market is expected to grow at a moderate CAGR of 5.5 per cent from 2014 to 2019.
In 2013, North America was a major market for cleanroom technology with around 38 per cent share of the global market, followed by Europe, Asia-Pacific, and RoW.
Asia-Pacific region represents the highest growth opportunity for the market during 2014 to 2019 and is expected to grow at a CAGR of 8.2 per cent during the forecast period. The growth in this market is majorly driven by increasing development of pharmaceutical and biotechnology industries in this region.