A growing number of pharmaceutical and biopharmaceutical R&D activities and technological advances leading to process optimization are the key factors driving the growth of the market. However, the lack of skilled professionals and the high cost of PAT deployment are hampering the market growth.
New York, Nov. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report, Process Analytical Technology Market, by Technology, Measurement, Product & Service, End User – Global Forecast to 2027 – https:/ /www.reportlinker.com/p04734936/?utm_source=GNW
The spectroscopy segment is expected to hold the largest market share in 2022
Based on the type of technology, the global PAT market has been classified into five major segments – spectroscopy, chromatography, particle size analysis, capillary electrophoresis and other technologies. By technology, spectroscopy will hold a large market share in 2022.
Increased adoption of molecular spectroscopy technologies such as near-infrared (NIR) spectroscopy, Fourier transform infrared (FTIR) spectroscopy, Raman spectroscopy and nuclear magnetic resonance (NMR) spectroscopy in drug quality assessment contributes significantly to the growth of this segment.
The services segment is expected to register the highest CAGR during the forecast period
Process analytical technology services are offered to end users for better implementation of Quality by Design (QbD) framework. These services include PAT implementation consulting and software services, regulatory frameworks and process management.
The services segment is expected to grow the most due to the increasing demand for consulting and software services required for the development of PAT models and the implementation of PAT strategies in the pharmaceutical manufacturing process.
In terms of application, the small molecule segment held the largest market share in 2021
Based on application, the process analysis technology market is broadly segmented into small molecule, large molecule, manufacturing, and other applications. The small molecule segment held the largest market share in 2021.
Strict drug development and safety policies to improve the efficiency and effectiveness of the pharmaceutical manufacturing process, growing pharmaceutical research activities and growth in pharmaceutical manufacturing to meet the increasing demand for drugs are the main drivers of the segment’s growth.
The market in the APAC region is expected to register the highest growth during the forecast period.
China, India and Japan are the key markets in Asia Pacific. Strategic expansion through key market players in emerging Asian countries; the growing Contract Research and Manufacturing Services (CRAMs) industry in India, Korea, Singapore and China; the major biopharmaceutical industry in Singapore; and analytical instrument conferences, exhibitions and meetings are some key factors driving the growth of Asia-Pacific market.
Below is a breakdown of the key participants covered by this report:
• By company type: Tier 1 – 30%, Tier 2 – 42% and Tier 3 – 28%
• By title: C-Level – 10%, Manager – 76% and Other – 14%
• By region: North America – 40%, Europe – 30%, Asia Pacific – 22%, Latin America – 6% and Middle East and Africa – 2%
The leading players in the process analysis technology market are Thermo Fisher Scientific, Inc. (USA), Danaher Corporation (USA), Agilent Technologies, Inc. (USA), Shimadzu Corporation (Japan), Waters Corporation (USA), Bruker Corporation (USA ), Emerson Electric Co. (USA), ABB Ltd. (Switzerland), PerkinElmer, Inc. (USA), Mettler-Toledo International Inc. (USA) and Carl Zeiss AG (Germany).
This report studies the Process Analysis Technology Market based on technology, measurement, product and service, application, and region. It also covers the factors influencing market growth, analyzes the various opportunities and challenges in the market, and details the competitive landscape for market leaders.
In addition, the report analyzes micro markets in terms of their individual growth trends and forecasts sales of the market segments with respect to five major regions (and the respective countries within these regions).
Reasons to buy the report
The report will allow both established companies and newcomers/smaller companies to take the pulse of the market, which in turn would help them in gaining a larger market share. Companies purchasing the report could employ one or a combination of the strategies below to strengthen their market presence.
This report provides insight into the following indications:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the Process Analytics market
• Product Development/Innovation: Detailed insights into the upcoming trends, R&D activities and product launches in the process analysis technology market
• Market Development: Comprehensive information on lucrative emerging markets
• Market Diversification: Comprehensive information on new products, growing regions and current developments in the process analysis technology market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis and products of the leading market players.
Read the full report: https://www.reportlinker.com/p04734936/?utm_source=GNW
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