Pune, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Process Analytical Technology Market Size & Share Analysis:
“According to SNS Insider, The Process Analytical Technology Market was valued at USD 3.50 Billion in 2023, anticipated to reach USD 10.19 Billion by 2032 with a CAGR of 13.29% during the forecast period 2024-2032. “
Growing competition all around the world forces companies to lower project costs, which, in turn, increases the popularity of Process Analytical Technology. Yet, the main issues that this type of system faces are security and privacy issues, especially the issues of cloud deployment. There are also complexity and cost issues that may stop companies from adopting the solutions. These issues are likely to hamper the adoption of PPM solutions. The rising number of multi-regional businesses and the growing popularity of automated solutions generate the demand for analytical and monitoring solutions, driving market growth.
The Process Analytical Technology market heightens in the forecast period due to the increasing need for project management software and services that allow managing and reducing project complexities. The rising number of public and private investments in R&D has spurred the development of advanced solutions. For example, mobile application-based solutions are becoming increasingly popular among organizations that eagerly purchase the solutions, encouraging vendors to develop new solutions to reach a broad consumer base.
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Major Players Analysis Listed in this Report are:
- Thermo Fisher Scientific
- Agilent Technologies
- Danaher Corporation
- PerkinElmer, Inc.
- Bruker Corporation
- ABB Group
- Mettler-Toledo International, Inc.
- Siemens AG
- Shimadzu Corporation
- Emerson Electric Co.
- Photonics Inc.
- Endress & Hauser AG
- Extrel CMS LLC
- Hach Company
- Horiba Ltd
Process Analytical Technology Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 3.50 Billion |
| Market Size by 2032 | US$ 10.19 Billion |
| CAGR | CAGR of 13.29% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Dynamics
Pharmaceutical & Biotechnology led the segment by 35% in 2023. Biopharmaceutical manufacturing relies on analytical testing to enhance productivity, optimize processes, monitor and characterize biologics and biosimilars, and perform real-time quality control. These objectives are crucial for improving the biomanufacturing process, leading to reduced costs, more consistent and higher product quality, and overall, more efficient manufacturing. The industry has historically sought ways to enhance product quality, and with advancements in instrument accuracy and precision, the focus has shifted towards efficiency, resulting in increased pharmaceutical R&D expenditure and potentially positive market outcomes.
An important consideration in current market research is the growing significance of key analytical tools. For example, GC chromatography is used to analyze small and light molecules in finished products, making it a standard for quality control, particularly in identifying volatile impurities. Optical spectroscopy encompasses various techniques, with NIR and FTIR absorption spectroscopy being widely accepted for specific applications. However, broader use of other methods, such as terahertz Raman spectroscopy, can also enhance overall pharmaceutical manufacturing processes.
Process Analytical Technology Market Key Segmentation:
By Type
- Gas Chromatographs
- Gas Analyzers
- Liquid Analyzers
- Spectrometers
By End-User Industry
- Oil & Gas
- Chemicals & Petrochemicals
- Pharmaceutical & Biotechnology
- Metal & Mining
- Water & Wastewater
- and Others
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Regional Insights
North America holds 39% in 2023. In North America, the use of Process Analytical Technology (PAT) and instrument vendors has resulted in significant improvements in technology's usability, accuracy, reliability, and effectiveness over the past few years. These companies have introduced various technologies and innovations to assist in laboratory and quality control operations. In industries such as oil and gas, metal and mining, and pharmaceuticals, the traditional approach involves manufacturing the end product and then conducting lab analysis to determine its quality. However, this approach has encountered problems such as frequent manufacturing issues, the need for continuous process optimization, and occasional batch failures. To address these challenges, the US Food and Drug Administration has introduced new PAT technology that is being implemented.
Emerging Trends:
- Automation in Manufacturing: Integration of real-time data monitoring systems to enhance quality control.
- AI and Machine Learning: AI-enhanced analytics for predicting production outcomes and optimizing processes.
- Data Management: Increased focus on data integrity, analytics, and secure data exchange.
Recent Developments
In April 2024, the United States Pharmacopeia announced the introduction of a dedicated General Chapter on Process Analytical Technology (PAT). This paper aims to define PAT, describe its main drivers, and explain how it is relevant to the pharmaceutical industry as a whole. The main objective is to align with current scientific and regulatory standards to improve real-time monitoring, control, and assurance in pharmaceutical manufacturing. Additionally, it's important to consider the significant role of PAT as a key tool in enhancing process understanding and optimization, specifically in Continuous Process Verification and Real-Time Release Testing.
Key Takeaways
- In 2023, North America holds a 39% share and remains the largest regional market for the next seven years. The growth of this region can be attributed to advancements in technology and support from regulatory authorities that facilitate expedited approval of biopharmaceutical products.
- The pharmaceutical & biotechnology segment holds the largest share in 2023 at 35%. The growth of this segment is the result of the necessity to optimize the process of manufacturing biopharmaceutical products. The demand for the latter will increase, resulting in a need for more rigid process control and real-time monitoring.
- Market Growth: The market is expected to grow due to rising incidences of pancreatic cancer, advancements in treatment options, and increased research funding.
- Key Drivers: Aging population, increasing awareness of early detection, advancements in targeted therapies and immunotherapy.
- Technologies: Chemotherapy, targeted therapies, immunotherapy, radiation therapy, and surgery.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Process Analytical Technology Market Segmentation, by Type
8. Process Analytical Technology Market Segmentation, by End-Use Industry
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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