NEW YORK, Dec 15, 2021 / PRNewswire / – The global Process Analytics Technologies Market is expected to reach a CAGR of 17.1% between 2021 and 2030 to achieve $ 13,626.5 million by 2030 from estimated $ 3,283.8 million in 2021. The main reason for this would be the increasing number of drug research and development (R&D) activities. With the increasing number of chronic and acute illnesses, the demand for effective drugs with as few side effects as possible is increasing.
In this regard, the COVID-19 pandemic has acted as a powerful growth driver for the market. In response to rising infection and death rates, the race for effective preventive and curative drugs is intensifying. Since PAT is primarily used to monitor and evaluate the drug development process, the demand for it increased massively in 2020.
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Key Findings of Process Analytical Technologies market report
- Spectroscopy is the most widely used PAT because it helps determine the atomic structure of a sample and the molecular structure of a muscle, alter the structure of drugs to improve efficacy, and characterize proteins.
- In the process analytical technology market, biopharmaceutical manufacturers are expected to be the fastest growing end users. This is attributed to the increasing need for biochemical analysis in the booming biotechnology industry in developing countries.
- The demand for PAT in Asia Pacific (APAC) due to the existence of numerous pharmaceutical companies, the advancing biotech sector and the increasing incidence of chronic and acute diseases.
- To save operational costs and focus more on marketing, pharmaceutical and biotech companies are outsourcing production to contract manufacturing organizations (CROs), which as a result are becoming significant users of PAT.
- With the increasing demand for PAT, products are being introduced that offer greater accuracy and can be used in a variety of environments. This is supported by increasing government investments in the biopharmaceutical and pharmaceutical industries.
- In the coming years, the demand for chemometrics, statistical data processing, instrument repair and maintenance, and training services is expected to grow faster than the instruments themselves
Browse through the detailed report Market size and growth forecast for process analytics through 2030
Currently, North America holds the largest share of the market for process analytical technologies, as the world’s largest biotechnology and pharmaceutical industry is located here. In addition, the advanced technological infrastructure in the region enables drug manufacturers to adopt PAT throughout the R&D process. In addition, the regional market is being driven by the increasing focus on the Quality by Design (QbD) ideology.
Major companies in the process analytics technology market include PerkinElmer Inc., Carl Zeiss AG, Shimadzu Corporation, Mettler-Toledo International Inc., Danaher Corporation, Emerson Electric Co., Thermo Fisher Scientific Inc., Bruker Corporation, ABB Ltd. and Agilent Technologies Inc. They introduce new analytical systems, merge or acquire other companies, and enter into partnerships and collaborations to dominate the competition.
PAT market segmentation analysis
PAT market by technology
- Liquid chromatography (LC)
- Gas chromatography (GC)
- Capillary electrophoresis
- Particle size analysis
PAT market after measurement
- In line
PAT Market by End User
- Pharmaceutical Manufacturers
- Biopharmaceutical Manufacturers
- Contract research and manufacturing organizations
PAT market according to offer
- Sensors and probes
PAT market Regional outlook
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- middle East & Africa (MY)
- Saudi Arabia
- United Arab Emirates
- South Africa
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SOURCE P&S Intelligence