New York, United States , Aug. 29, 2024 (GLOBE NEWSWIRE) -- The Global Process Analytical Technology Market Size is to Grow from USD 7.51 Billion in 2023 to USD 14.15 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.54% during the projected period.
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Using cutting-edge instruments and technologies to monitor and control industrial processes in real-time is known as "process analysis technology" (PAT). Chromatography and spectroscopy are two of the many methods and procedures used in PAT. To optimize production and guarantee product quality, these are utilized to deliver accurate, timely, and helpful data. With real-time monitoring and control over manufacturing processes, PAT technologies can help verify that pharmaceuticals are produced consistently and up to specified standards, thus improving drug quality. To deal with post-production testing, the technique expedites the delivery of products and helps to minimize costs in the manufacturing process. Moreover, it lowers the energy needed to operate the machinery and its cycle time. Thus, process automation lowers the overall cost of labor. PAT technology can be used to improve biologics, including vaccines and monoclonal antibodies. However, the global market for process analytical technology is expected to be restricted by the lack of qualified workers with a background in the creation and execution of this technology.
Browse key industry insights spread across 215 pages with 115 Market data tables and figures & charts from the report on the "Global Process Analytical Technology Market Size, Share, and COVID-19 Impact Analysis By Technology (Spectroscopy, Chromatography, Particle Size Analysis, Capillary Electrophoresis, and Others), By Measurement (On-line, In-line, At-line, and Off-line), By End User (Pharmaceutical Manufacturers, Biopharmaceutical Manufacturers, Contract Research & Manufacturing Organizations, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The spectroscopy segment is anticipated to hold the greatest share of the global process analytical technology market during the projected timeframe.
On the basis of technology, the global process analytical technology market is divided into spectroscopy, chromatography, particle size analysis, capillary electrophoresis, and others. Among these, the spectroscopy segment is anticipated to hold the greatest share of the global process analytical technology market during the projected timeframe. The analysis of pharmaceutical and biopharmaceutical products using spectroscopy is common, both qualitative and quantitative.
The on-line segment is anticipated to hold the largest share of the global process analytical technology market during the projected timeframe.
On the basis of measurement, the global process analytical technology market is divided into on-line, in-line, at-line, and off-line. Among these, the on-line segment is anticipated to hold the largest share of the global process analytical technology market during the projected timeframe. A sample is removed from the production process utilizing a bypass flow in the on-line portion of this monitoring procedure. Automatic sampling in the by-pass is measured by process sensors.
The pharmaceutical manufacturers segment is predicted to hold the greatest share of the global process analytical technology market during the estimated period.
On the basis of end users, the global process analytical technology market is divided into pharmaceutical manufacturers, biopharmaceutical manufacturers, contract research & manufacturing organizations, and others. Among these, the pharmaceutical manufacturers segment is predicted to hold the greatest share of the global process analytical technology market during the estimated period. Pharmaceutical manufacturers represent the bulk of PAT tools and technology users. They use these tools to ensure that their products meet stringent regulatory requirements and quality standards.
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North America is expected to hold the largest share of the global process analytical technology market over the forecast period.
North America is expected to hold the largest share of the global process analytical technology market over the forecast period. The rapid growth of the pharmaceutical and biotechnology industries, significant investments in research and development, and regulatory support for the use of PAT in the market are some of the factors driving the growth of the North America market.
Asia Pacific is predicted to grow at the fastest pace in the global process analytical technology market during the projected timeframe. In the Asia-Pacific region, China, Japan, and India are the countries that have contributed most to the development of the process analytical technology market.
Europe is expected to hold a significant share of the global process analytical technology market over the forecast period. Process analytical technology is being utilized more frequently to keep up regulatory standards in Europe, where pharmaceutical and biotech businesses are subject to strict regulations.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global process analytical technology market include Thermo Fisher Scientific, CGT Catapult, Rentschler Biopharma, Danaher Corporation, Agilent Technologies, Inc., Pharmacopeia (USP), Shimadzu Corporation, Waters Corporation, Bruker Corporation, Emerson Electric Co., ABB Ltd., PerkinElmer, Inc, Mettler-Toledo International Inc., Carl Zeiss AG, and Others.
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Recent Developments
- In June 2024, Thermo Fisher Scientific announced the development of a new mass spectrometry platform at the American Society for Mass Spectrometry (ASMS) conference in Anaheim, California, in addition to other enhancements to their current product line.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global process analytical technology market based on the below-mentioned segments:
Global Process Analytical Technology Market, By Technology
- Spectroscopy
- Chromatography
- Particle Size Analysis
- Capillary Electrophoresis
- Others
Global Process Analytical Technology Market, By Measurement
- On-line
- In-line
- At-line
- Off-line
Global Process Analytical Technology Market, By End User
- Pharmaceutical Manufacturers
- Biopharmaceutical Manufacturers
- Contract Research & Manufacturing Organizations
- Others
Global Process Analytical Technology Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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