LONDON--(BUSINESS WIRE)--The new cleanroom consumables market research report from Technavio indicates positive growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the growth of pharmaceutical and biotechnology industries in APAC, says a senior analyst for Industrials at Technavio.

The pharmaceutical and biotechnology industries are witnessing high growth in APAC, especially in developing countries such as China and India. This can be attributed to various initiatives taken by regulatory bodies to strengthen the pharmaceutical industry. For instance, the Government of India allocated about USD 8.8 billion in its Union Budget 2019-2020 for the development of the healthcare sector. The country has also eased the FDI rules to attract investments in the healthcare sector. Many such factors have been contributing to the growth of the pharmaceutical and biotechnology industries in APAC. The pharmaceutical and biotechnology industries are the major end-users of cleanroom consumables. Thus, all these factors are expected to drive the demand for cleanroom consumables during the forecast period. As the markets recover Technavio expects the cleanroom consumables market size to grow by USD 2.64 billion during the period 2020-2024.

Cleanroom Consumables Market Segment Highlights for 2020

Regional Analysis

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Cleanroom Consumables Market Report by Technavio Identifies the Growth of Pharmaceutical and Biotechnology Industries in APAC as Key Driver |...