COVID-19 Impact and Recovery Analysis - Global Cleanroom Technology Equipment Market 2020-2024 | Evolving Opportunities with Alpiq Holding Ltd. and Ansell Ltd. | Technavio
The global cleanroom technology equipment market is expected to grow by USD 1.36 billion as per Technavio. Steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic.
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Technavio has announced its latest market research report titled Global Cleanroom Technology Equipment Market 2020-2024 (Graphic: Business Wire)
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Demand for cleanroom technology from the pharmaceutical and biotechnology industries is expected to drive the market. Cleanroom technology enables users to control the environment and prevent contamination from pollutants such as dust, microbes, airborne particles, chemical vapor, and water vapor. As a result, the market is expected to grow at a neutral rate, unlike different industrial sectors, that are expected to witness a steep decline in terms of market growth due to the outbreak of COVID-19.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by the growing healthcare industry. In addition, the introduction of new universal standards for air filters is anticipated to boost the growth of the cleanroom technology equipment market.
The aging population and the increasing prevalence of various diseases have been fueling the growth of the global healthcare industry. For instance, the national health expenditures in the US grew at a rate of 4.8% in 2019 compared to 4.4% in 2018. In addition, the 20-year patents of many branded drugs are expected to expire in the coming years. This is expected to attract significant investments in the development of generic drugs. In the pharmaceutical and biotechnology industries, cleanrooms are used to eliminate contaminants from operators as well as from the air to ensure the quality of products. Therefore, the growth of the global healthcare industry is expected to have a positive impact on the cleanroom technology market during the forecast period.
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Major Five Cleanroom Technology Equipment Companies:
Alpiq Holding Ltd.
Alpiq Holding Ltd. operates its business through segments such as Generation Switzerland, Generation International, and Digital and Commerce. The company offers and supports the installation of cleanrooms for the pharmaceutical, electronics and food industries, hospitals, plastic manufacturers, and research laboratories through its product Alpiq InTec.
Ansell Ltd. operates its business through segments such as Industrial and Healthcare. The company offers a line of products such as BioClean cleanroom grade gloves with high standards.
Ardmac operates its business through a unified segment. The company offers industry-leading cutting edge cleanroom solutions to global clients with modular HVAC systems, while delivering cost-effective solutions through standardization.
Azbil Corp. operates its business through segments such as Building Automation, Advanced Automation, and Life Automation. The company offers a line of products such as Multi-Loop Controller and Multifunction Display Model C7G/C7S with resistive touch-panel which is easy to operate in cleanrooms.
Clean Air Products operates its business through a unified segment. The company offers a line of products such as air showers for modular cleanrooms to reduce or eliminate the product defects for increased yields.
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Cleanroom Technology Equipment Product Outlook (Revenue, USD bn, 2020-2024)
Cleanroom Technology Equipment Market Regional Outlook (Revenue, USD bn, 2020-2024)
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