European Cleanroom Technology Market Size and Growth

The rising incidence of infectious diseases is one of the key factors resulting in the increasing demand for the cleanroom technology in Europe. As per the European Centre for Disease Prevention and Control (ECDC), human immunodeficiency virus (HIV) infection is one of the most prevalent diseases in the region, with almost 30,000 new cases recorded every year. It was reported that approximately 29,444 people were suffering from HIV in 31 countries of the European Union (EU) in 2016. The other most common diseases prevalent in the region are hepatitis B, respiratory tract infections, and tuberculosis, which is raising the demand for drugs and medical devices.

Due to the above-mentioned factors, the revenue generated from the sale of cleanroom consumables and equipment in Europe is predicted to increase from $1,126.6 million in 2017 to $1,701.8 million by 2023. The European cleanroom technology market is additionally expected to advance at a CAGR of 7.2% during the forecast period (2018–2023). Between consumables and equipment, consumables are expected to register faster growth in requirement during the forecast period, owing to their rising adoption, in order to maintain a contamination-free environment in hospitals, research laboratories, and pharmaceutical, medical devices, and biotechnology industries. 

The other major factors propelling the demand for cleanroom consumables and equipment in Europe are the soaring investments in research and development (R&D) aimed at producing new medicines for the treatment of various diseases and ailments, and the growing biotechnology and pharmaceutical industries in the region. As per the European Federation of Pharmaceutical Industries and Associations (EFPIA), investments worth $41,822.4 million were made by the industry in R&D in 2016, which significantly pushed the adoption of cleanroom technology in the region.

In Europe, pharmaceutical production is increasing at a rapid rate, mainly due to the rising demand for drugs, on account of the increasing prevalence of chronic diseases and surging geriatric population. As per the EFPIA, the region reported pharmaceutical production worth $337,825 million in 2016. Apart from pharmaceutical, cleanrooms are required in the medical devices and biotechnology industries. Out of these, the pharmaceutical industry recorded the highest usage of cleanroom consumables and devices in 2017, primarily due to the rising number of pharmaceutical companies in Europe, which are mandated to have cleanrooms.

Germany recorded the highest adoption of the cleanroom technology in Europe in the past, and this trend is expected to continue during the forecast period. This is mainly attributed to the increasing number of cleanroom technology providing companies and ballooning incorporation of cleanroom products in the biotechnology and pharmaceutical companies in the country. France is predicted to register the fastest growth in the adoption of the cleanroom technology in the continent in years to come, owing to the presence of numerous companies offering and using these solutions. As a result, the European cleanroom technology market will grow rapidly in France.

Access Report Summary - European Cleanroom Technology Market Segmentation Analysis Report

Article source: https://article-realm.com/article/Finance/32904-European-Cleanroom-Technology-Market-Size-and-Growth.html