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Cleanroom Technologies Market worth $11.4 billion | MarketsandMarkets

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CHICAGO, Aug. 4, 2023 /PRNewswire/ — In the near future, the Cleanroom Technologies industry is poised to witness a remarkable transformation, driven by rapid advancements in technology and the growing emphasis on stringent quality standards across various sectors. With the increasing demand for contamination-free environments in pharmaceuticals, biotechnology, electronics, aerospace, and healthcare, cleanroom facilities are expected to experience substantial growth and sophistication. Innovative solutions like state-of-the-art air filtration systems, nanotechnology-based cleaning agents, and advanced monitoring tools will revolutionize the way cleanrooms are designed, operated, and maintained. Furthermore, the integration of automation, artificial intelligence, and robotics will enhance efficiency and minimize human intervention, ensuring even higher levels of cleanliness and precision. As sustainability becomes a key priority, eco-friendly cleanroom materials and energy-efficient practices will gain prominence, aligning the industry with global environmental goals. The cleanroom technologies industry is destined to play a pivotal role in shaping the future of various sectors, enabling safer, more reliable, and cutting-edge products and services while fostering a cleaner and healthier world.

Cleanroom Technologies Market in terms of revenue was estimated to be worth $8.2 billion in 2023 and is poised to reach $11.4 billion by 2028, growing at a CAGR of 6.8% from 2023 to 2028 according to a new report by MarketsandMarkets™.

The cleanroom technologies market is mainly driven by factors such as the stringent government regulations for effective infection control, growing demand for medical devices, advancements in cleanroom technology, and rising demand for parenteral & injectable pharmaceutical formulations growth of the biological sector, rising demand for parenteral, growing demand for medical devices, and increasing R&D spending in the pharmaceutical industry. However, the high operational costs associated with cleanrooms is expected to restrain market growth to a certain extent.

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Browse in-depth TOC on “Cleanroom Technologies Market”
289 – Tables
41 – Figures
302 – Pages

Cleanroom Technologies Market Scope:

Report Coverage

Details

Market Revenue in 2023

$8.2 billion

Estimated Value by 2028

$11.4 billion

Growth Rate

Poised to grow at a CAGR of 6.8%

Market Size Available for

2021–2028

Forecast Period

2023–2028

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product, Type, End User & Region

Geographies Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Increasing demand for cleanrooms in developing economies

Key Market Drivers

Stringent regulatory framework

 

The consumables segment has accounted for the largest market share during the forecast period.

Based on Product, the cleanroom technologies market is segmented into equipment, controls, and consumables. The consumables segment accounted for the largest share of the cleanroom technologies market. Consumables segment is also estimated to grow at the highest CAGR during the forecast period. The high and growing number of biotech, pharmaceuticals and medical device companies facilitating the use of disposable protective clothing drives the growth of the consumables segment in the cleanroom technologies market.

The modular cleanrooms segment has accounted for the largest share of the global cleanroom technologies market

Based on type, the cleanroom technologies market has been segmented into standard cleanrooms, modular cleanrooms and mobile cleanrooms. The standard cleanrooms segment accounted for the largest share of the cleanroom technologies market in 2022. The high demand for cleanrooms that are more design-flexible than standard cleanrooms, quick and easy to install, freestanding for easy portability, and easy to expand or reconfigure has incaresed the adoption of modular cleanrooms among end users.

Pharmaceutical industry segment was the largest end user segment of the cleanroom technologies market.

Based on end user, the cleanroom technologies market is segmented into medical device manufacturers, hospitals, pharmaceutical industry, the biotechnology industry, and other end users. In 2022, pharmaceutical industry was the largest end user segment of the cleanroom technologies market. The manufacture of various pharmaceutical formulations across the globe and high adoption of cleanrooms during the development of pharamceuticals fuel the adoption of cleanroom technologies among this end user segment.

North America accounted for the largest share of the cleanroom technologies market

North America, followed by Europe, held the largest market share in 2022. North America accounted for the largest share of the cleanroom technologies market. This is due to the stringent regulatory standards for product approvals in the US and Canada. Also, a large number of major global players are based in the US, because of which the country is a center for innovation in the cleanroom technologies market.

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Cleanroom Technologies Market Dynamics:

Drivers:

  1.  Stringent regulatory framework

Restraints:

  1. High operational costs associated with cleanrooms

Opportunities:

  1. Increasing demand for cleanrooms in developing economies

Challenges:

  1. Customization of cleanroom designs per requirements

Key Market Players:

Some of the prominent players operating in the cleanroom technologiesmarket include Kimberly-Clark Corporation (US), Illinois Tool Works, Inc. (US), Taikisha Ltd. (Japan), Angstrom Technology (US), Octanorm-Vertriebs-GMBH (Germany), Camfil (Sweden), Azbil Corporation (Japan), Bouygues Group (France), Clean Air Technology, Inc.(US), Weiss Technik (Germany), Atlas Environments, Ltd. (UK) Exyte AG (Germany), Terra Universal, Inc. (US).

Recent Developments:

  • In 2023, ABN Cleanroom Technology launched the first ready-to-use low dewpoint cleanroom solution in Europe.
  • In 2022, Bouygues Energies & Services, a subsidiary of Bouygues Construction, has successfully installed a cutting-edge manufacturing cleanroom facility to Novanta (US) in Taunton.
  • In 2022, ABN Cleanroom Technology launched the first off-the shelf cleanroom solution, INTEGRA that can reach cleanliness classifications up to ISO Class 4 and cGMP grade B.
  • In 2022, Clean Rooms International launched Flow-Thru Light Troffer suitable for Class 10 – Class 100,000 environments for for cleanroom, pharmaceutical, laboratory, hospital, and other environments.
  • In 2021, Exyte Group and Wynnchurch Capital reached an agreement for the acquisition of the Critical Process Systems Group (CPS) by Exyte. CPS is a group of manufacturing and design companies with USD 150 million in annual sales in 2020. The acquisition will allow the company to further enhance its services to existing and new customers in semiconductor, biopharma, and life sciences businesses.

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Cleanroom Technologies Market Advantages:

  • Contamination control: Cleanroom technologies provide highly controlled environments that effectively prevent the ingress of contaminants such as dust, microbes, and particles. This is crucial in industries like pharmaceuticals, biotechnology, and electronics manufacturing, where even minor impurities can lead to product defects or compromised safety.
  • Product quality and reliability: By maintaining stringent cleanliness standards, cleanroom technologies ensure consistent and superior product quality, reducing the risk of defects and costly recalls. This is especially important in critical applications like medical devices, aerospace components, and semiconductors.
  • Regulatory compliance: Many industries are subject to strict regulatory requirements concerning cleanliness and contamination control. Cleanroom technologies facilitate compliance with these regulations, helping businesses avoid penalties and maintain a positive reputation in the market.
  • Enhanced safety for workers and consumers: Cleanrooms protect both workers and end-users from exposure to hazardous substances, pathogens, and contaminants. This creates a safer working environment and boosts consumer confidence in the safety and reliability of the products.
  • Increased productivity and efficiency: The precise control of cleanroom environments reduces the occurrence of errors and unplanned interruptions during the manufacturing process. This leads to higher productivity, lower rework rates, and optimized operational efficiency.
  • Advanced research and development: In research laboratories and facilities, cleanroom technologies enable scientists and researchers to work with sensitive materials and conduct experiments with high accuracy, reproducibility, and reliability.
  • Facilitation of emerging technologies: Cleanrooms play a critical role in the development and production of cutting-edge technologies such as nanotechnology, microelectronics, and biopharmaceuticals, where the smallest contaminants can significantly impact results.
  • Customizability and scalability: Cleanroom technologies offer flexibility in design and can be tailored to suit specific industry needs and applications. Additionally, they can be easily expanded or modified to accommodate growing demands and changing requirements.
  • International market access: Compliance with cleanroom standards enhances a company’s international competitiveness by facilitating access to global markets, where high-quality and contamination-free products are increasingly in demand.
  • Environmental sustainability: With the rising focus on sustainability, cleanroom technologies are evolving to incorporate eco-friendly practices, such as energy-efficient systems and the use of environmentally friendly materials, further aligning the industry with responsible environmental practices.

Overall, the advantages of cleanroom technologies make them indispensable for industries seeking to maintain high product quality, safety, and efficiency while adhering to stringent regulatory and environmental standards.

Related Reports:

Particle Counters Market – Global Forecasts to 2027

Sterilization Services Market – Global Forecasts to 2027

Infection Control Market – Global Forecasts to 2027

Particle Size Analysis Market – Global Forecasts to 2026

Hospital Acquired Infection Control Market – Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
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Binance Announces Adjustment of Tick Size for Spot Trading Pairs

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Binance, a leading cryptocurrency exchange, has announced adjustments to the tick size (the minimum change in the unit price) of specific spot trading pairs. These adjustments are aimed at enhancing market liquidity and improving the overall trading experience for users. The changes are scheduled to be completed by 05:00 (UTC) and 07:00 (UTC) on May 23, 2024.

Traders can find details about the tick sizes of all spot trading pairs on Binance in the platform’s Trading Rules. Importantly, the adjustment will not impact spot trading and related functionalities. API users will also observe changes in the tick size, and they can stay updated with the latest tick size using the GET /api/v3/exchangeInfo endpoint. Additional details and updates can be found in the API Changelog.

Existing spot orders will not be affected by the tick size update. Orders placed before the update will continue to be matched with the original tick size. However, traders are advised to adjust their trading strategies accordingly to avoid any unnecessary impact on their trading activities.

Binance emphasizes the importance of referencing the English version of the announcement for the most accurate and up-to-date information, as there may be discrepancies in translated versions. The exchange remains committed to providing a seamless trading experience and appreciates the support of its users. Users are reminded to exercise caution and make informed decisions when trading on the platform.

Source: blockchain.news

The post Binance Announces Adjustment of Tick Size for Spot Trading Pairs appeared first on HIPTHER Alerts.

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Blockchain

OKX Announces Support for New USDC Spot Trading Pairs

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According to an official announcement released on May 16, 2024, OKX will introduce new USDC trading pairs in the spot trading section between 7:00 am and 8:00 am UTC on May 20, 2024. This addition aims to broaden trading options for OKX users and contribute to the expanding USDC ecosystem.

In light of the risks associated with digital asset trading, OKX has issued a cautionary note to all users. They emphasize that information provided by OKX and third parties is for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information and does not provide financial, investment, or other forms of advice.

OKX highlights the speculative nature and high volatility of digital assets, cautioning that they may become illiquid at any time, potentially resulting in the loss of the entire investment. Therefore, OKX advises users to conduct thorough research and assess their risk tolerance before engaging in digital asset trading.

For inquiries regarding the new USDC spot trading pairs or any other concerns, users can contact OKX through their support center or engage with the OKX team on various platforms. OKX’s proactive approach in addressing user inquiries and fostering community interaction underscores its commitment to user satisfaction and the overall growth of the crypto ecosystem.

Source: blockchain.news

The post OKX Announces Support for New USDC Spot Trading Pairs appeared first on HIPTHER Alerts.

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ShibaSwap rolls out major upgrade, moves to Shibarium

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ShibaSwap, the decentralized exchange (DEX) affiliated with the Shiba Inu ecosystem, has announced a significant upgrade by migrating to the Shibarium blockchain. This move is expected to introduce a range of new utilities for users, as stated in a recent press release.

The upgrade includes features such as a revamped dashboard, enhanced user experience, discovery charts for trending tokens, and an improved process for onboarding new tokens onto the DEX.

Lead developer Shytoshi Kusama expressed enthusiasm for the upgrade, highlighting its potential to empower DEFI innovators and facilitate community token interaction on Shibarium. Kusama also invited the community to explore the new swap and encouraged existing Shibarium tokens to transition to the platform seamlessly, while assuring that further updates are in the pipeline.

A portion of transaction fees will be utilized to enhance liquidity pool (LP) value in swap transactions, benefiting users and the yield farming community, according to the press release.

The upgrade rollout will prioritize enhancing discovery and can be expected to include more regular updates and upgrades, as noted by fellow developer and contributor Kaal.

The upgrade aims to minimize gas fees and ensure faster transactions, in addition to supporting various segments of the Shiba Inu Ecosystem, including $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, ShibaSwap DEX, and the Shiba Eternity game.

Shibarium’s layer 2 mainnet, launched in August 2023, saw the creation of 21 million wallets and was trialed by millions of users. It introduced a new consensus mechanism called proof-of-participation (PoP), which selects validators based on their holdings of the associated cryptocurrency.

As of the latest data, the price of SHIB stands at $0.0002548, reflecting an almost 7% increase in the last 24 hours, with SHIB being the 11th largest in terms of market cap, according to CoinMarketCap.

Source: cointelegraph.com

The post ShibaSwap rolls out major upgrade, moves to Shibarium appeared first on HIPTHER Alerts.

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