Global Process Analyzer Market Size to Reach USD 13.46 Billion in 2032 | Emergen Research

Vancouver, Oct. 11, 2023 (GLOBE NEWSWIRE) -- The global process analyzer market size was USD 8.37 Billion in 2022 and is expected to register a steady revenue CAGR of 4.8% during the forecast period, according to latest analysis by Emergen Research. Rising public health awareness and increasing government initiatives to protect sustainable methods and application in drug safety are key factors drive market revenue growth. According to the United Nations (UN), countries with higher incomes treat, on an average, 70% of their wastewater production.

 This ratio drops to 38% in middle-income countries while it drops to 28% in lower-income countries. The need for process analyzers in the wastewater treatment process is rising as a result of recent government initiatives aimed at enhancing public health and lifestyle. For instance, the U.S. Department of Energy (DOE) is collaborating with water resource recovery facilities under the Sustainable Wastewater Infrastructure of Future (SWIFt) Initiative to hasten the transition to sustainable infrastructure.

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Process equipment operators are always in need of qualified professionals. For the correct use of analytical equipment, personnel with competence, appropriate experience, and process analytical tool expertise are required. Selecting the best operational strategies (unique to a given activity) is a crucial component. In the pharmaceutical industry, a lack of knowledge about the appropriate method of selection increases expenses both directly and indirectly and lengthens the time it takes to launch new drugs. As a result, the method development, approval, operation, and diagnosis roles in the process analyzer industry demand highly qualified employees. Such factors are limiting demand for process analyzer, which could restrain market revenue growth.

Scope of Research

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Major Companies and Competitive Landscape

The global process analyzer market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective process analyzer solutions. Some major players included in the global process analyzer market report are:

• ABB
• Endress+Hauser Group Services AG
• Siemens
• Yokogawa Electric Corporation
• AMETEK.Inc.
• Applied Analytics, Inc.
• Emerson Electric Co.
• METTLER TOLEDO
• Thermo Fisher Scientific Inc.
• Modcon Systems LTD.

Strategic Development

• On 8 April 2022, Thermo Fisher Scientific announced the product launch of User-Friendly Raman Spectroscopic Analyzer, which will reduce most of the complexity involved in Raman spectroscopic measurements. This analyzer provides continuous, non-destructive analysis without the requirement for sample preparation. By utilizing various unique probes, the system is able to fully automate in-situ measurements and calculate concentrations in a reaction vessel, while maximizing the speed and sensitivity of results. The analyzer comes equipped with a fiber optic probe, a portable monitor, a mouse, a keyboard, and laser safety goggles in addition to a Raman spectrometer. Its solid-state design is intended to provide continuous precise measurements without regular calibration over a lengthy period of time. To test multiple reaction vessels at once or to integrate several probes in one vessel, multiple systems can be utilized in parallel.
• On 28 October 2020, Thermo Fisher Scientific announced the launch of process analyzer software. It aims to promote fast, informed decision-making to avoid facility damage, lower product failure, and increase yield. Thermo Scientific has released the Chromeleon 7 Process Analyzer (PA) software, for process monitoring employing online Ion Chromatography (IC) and/or High-Performance Liquid Chromatography (HPLC) Process Analytical (PA) equipment.

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Some Key Highlights From the Report

• The oxygen analyzer segment is expected to account for largest revenue share in the global process analyzer market over the forecast period. This is due to increasing use of oxygen analyzer to measure the trace or percentage levels of oxygen present in gas streams or the surrounding atmosphere. The oxygen analyzer's measurement of oxygen concentration can be used to initiate other processes, such as sounding an alert, if it is outside of predetermined limits. Applications for combustion control, process quality, safety, and the environment can all benefit from measurements provided by oxygen analyzers.
• The spectroscopy segment is expected to register steadily fast revenue growth rate in the global process analyzer market during the forecast period. This is because physical and analytical chemistry use spectroscopy as each atom and each molecule have a unique spectrum. Thus, these spectra are used to detect, identify, and quantify information about the atoms and molecules. Earthly remote sensing and astronomy both use spectroscopy. Furthermore, wide applications other benefits of this technology are rising demand for process analyzers, thus is expected to drive revenue growth of this segment during the forecast period.
• The pharmaceuticals segment is expected to account for significantly large revenue share in the global process analyzer market  over the forecast period. This is because process analyzers are essential for the manufacturing of medicinal products. Liquid analyzers are widely utilized in the pharmaceutical industry, because of the necessity to maintain product quality and abide by laws and regulations for medicinal treatments.
• The North America market accounted for largest revenue share in the global process analyzer market in 2022 owing to rising demand for drug safety. The utilization of process analyzer solutions is required owing to improvements in industrial technology, large-scale developments, and rising concerns among individuals regarding water and wastewater treatment. Manufacturers are acquiring businesses from various areas to expand their existing business. For instance, on 11 July 2022, Process Insights announced the acquisition of Schneider Electric, including their assets of process analyzer business. The acquired FTIR/FT-NIR analyzers and process mass spectrometers further increases process insights' core gas and liquid-phase analysis and measurement capabilities

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Emergen Research has segmented the global process analyzer market on the basis of type, technology, industry vertical, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Liquid Analyzer
    1. Potential of Hydrogen (pH)/ Oxidation-Reduction Potential (ORP) Analyzer
    2. Conductivity Analyzer
    3. Turbidity Analyzer
    4. Dissolved Oxygen Analyzer
    5. Liquid Density Analyzer
    6. Mixed Liquor Suspended Solids (MLSS) Analyzer
    7. Total Organic Carbon (TOC) Analyzer
  • Gas Analyzer
    1. Oxygen (O2) Analyzer
    2. Carbon Dioxide (CO2) Analyzer
    3. Moisture Analyzer
    4. Toxic Gas Analyzer
    5. Hydrogen Sulfide Analyzer
  • Others
• Technology Outlook (Revenue, USD Billion; 2019-2032)
  • Spectroscopy
  • Chromatography
  • Mass Spectrometry (MS)
  • Nuclear Magnetic Resonance (NMR)
  • Particle Sizing and Counting
  • Others
• Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)
  • Oil & Gas (O&G)
  • Petrochemicals
  • Pharmaceuticals
  • Water & Wastewater
  • Power
  • Food & Beverages (F&B)
  • Paper & Pulp
  • Metals & Mining
  • Cement & Glass
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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