PUNE, Aug. 27, 2024 (GLOBE NEWSWIRE) –Process Analytical Technology Market Size and Share Analysis:
“According to SNS Insider, the process analytical technology market is expected to be valued at $3.5 billion in 2023 and reach $10.19 billion by 2032, growing at a CAGR of 13.29% during the forecast period 2024-2032.”
Increasing competition across the globe is forcing companies to reduce project costs, resulting in the popularity of process analytical technologies. However, the major issues faced by this type of system are security and privacy issues, especially in cloud deployments. There are also complexity and cost issues that may prevent companies from adopting the solution. These issues may hinder the adoption of PPM solutions. The rise in multi-geography businesses and the growing popularity of automation solutions are creating a demand for analytical and monitoring solutions, thus fueling the market growth.
The process analytical technology market will expand during the forecast period due to the growing need for project management software and services that can manage and reduce project complexity. Increasing public and private investments in research and development are driving the development of advanced solutions. For example, mobile application-based solutions are becoming increasingly popular among organizations that are keen to buy the solutions, prompting vendors to develop new solutions to reach a wider consumer base.
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The analysis of the key players covered in this report includes:
Thermo Fisher ScientificAgilent TechnologiesDanaher CorporationPerkinElmer, Inc.Bruker CorporationABB GroupMettler-Toledo International, Inc.Siemens AGShimadzu CorporationEmerson Electric Co.Photonics Inc.Endress & Hauser AGExtrel CMS LLCHach CompanyHoriba Ltd
Process Analytical Technology Market Report Coverage:
Report Attributes Details Market Size in 2023 US$ 3.5 Billion Market Size by 2032 US$ 10.19 Billion CAGR CAGR 13.29% from 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Key Regions 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
Pharmaceuticals and biotechnology led this segment by 35% in 2023. Biopharmaceutical manufacturing relies on analytical testing to increase productivity, optimize processes, monitor and characterize biologics and biosimilars, and perform real-time quality control. These goals are essential to improving biomanufacturing processes, leading to reduced costs, more consistent and higher quality products, and overall more efficient production. While the industry has historically sought ways to improve product quality, improvements in instrument precision and accuracy have shifted the focus to efficiency, which could increase pharmaceutical R&D spending and positively impact the market.
An important consideration in current market research is the growing importance of key analytical tools. For example, GC chromatography is used to analyze small, light molecules in finished products and has become the standard for quality control, especially in identifying volatile impurities. Optical spectroscopy encompasses a range of techniques, with NIR and FTIR absorption spectroscopy gaining wide acceptance for certain applications. However, other methods such as terahertz Raman spectroscopy can also be used widely to enhance the overall pharmaceutical manufacturing process.
Key Segmentations of the Process Analytical Technology Market:
By Type
Gas chromatograph Gas analyzer Liquid analyzer Spectrometer
By end user industry
Oil & GasChemical, Petrochemicals & BiotechnologyMetals & MiningWater & WastewaterOther
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Regional Insights
North America will account for 39% in 2023. In North America, the use of process analytical technology (PAT) and instrument vendors have significantly improved the ease of use, accuracy, reliability, and effectiveness of the technology over the past few years. These companies have introduced various technologies and innovations to aid in laboratory and quality control operations. In industries such as oil and gas, metals and mining, and pharmaceuticals, the traditional approach is to manufacture the end product and then perform laboratory analysis to determine its quality. However, this approach has presented challenges such as frequent manufacturing issues, the need for continuous process optimization, and occasional batch failures. To address these challenges, the U.S. Food and Drug Administration is introducing and implementing new PAT technologies.
Emerging trends:
Manufacturing automation: Integrate real-time data monitoring systems to enhance quality control. AI and machine learning: AI-enhanced analytics to predict production outcomes and optimize processes. Data management: 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). The document aims to define PAT, explain its main drivers, and explain how it is relevant across the pharmaceutical industry. The main objective is to improve real-time monitoring, control, and assurance in pharmaceutical manufacturing, aligning it with current scientific and regulatory standards. Furthermore, it is important to consider the crucial role of PAT as a key tool for enhanced process understanding and optimization, especially in continuous process validation and real-time release testing.
Key Takeaways
In 2023, North America will account for a 39% share and remain the largest regional market for the next seven years. Growth in this region can be attributed to technological advancements and support from regulatory authorities facilitating faster approval of biopharmaceuticals. The pharmaceutical and biotechnology segment will account for the largest share with 35% in 2023. Growth in this segment is a result of the need to optimize the manufacturing process of biopharmaceuticals. The demand for the latter will increase, requiring stricter process control and real-time monitoring. Market Growth: The market is expected to grow due to rising incidence of pancreatic cancer, advances in treatment options, and increasing research funding. Key Drivers: Aging population, growing awareness of early detection, advances in targeted therapy and immunotherapy. Technologies: Chemotherapy, targeted therapy, immunotherapy, radiation therapy, surgery.
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Table of Contents – Main Points
1. Introduction
2. Overview
3. Research Methods
4. Market Trend Impact Analysis
5. Statistical insights and trend reports
5.1 Incidence and prevalence (2023)
5.2 Prescription trends by region (2023)
5.3 Number of devices by region (2020-2032)
5.4 Health expenditure by region (government, private, private, self-pay), 2023
6. Competitive Environment
7. Process Analytical Technology Market Segmentation by Type
8. Process Analytical Technology Market Segmentation by End-Use Industry
9. Regional Analysis
10. Company Profile
11. Use Cases and Best Practices
12. Conclusion
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