DUBLIN–(BUSINESS WIRE)–The “Process Analytical Technology Market Size, Share & Trends Analysis Report by Product (Analyzers, Sensors & Probes), by Technique, by Monitoring Method, by End Use, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global process analytical technology market is expected to reach USD 5.0 billion by 2030, expanding at a CAGR of 10.2% from 2022 to 2030
The rising R&D spending by pharmaceutical companies, government investment in emerging markets, growing adherence to reliability by design (QbD) principles, increasing emphasis on improving quality and manufacturing process efficiency, and technological developments in the analytical technology industry are the main drivers in the market.
Process analytical technology is crucial to the manufacturing of pharmaceuticals as it provides data that aids in decision-making, quality assurance, product development, and factory implementation. Such technology also aids in spotting possible issues, such as contamination or foreign materials, in drug production procedures.
Process analytical technology can detect contamination at levels as low as 0.1 parts per million, according to a report on the global process analytical technology. This could result in considerable time and financial savings and further boost the adoption of analytical technology in bioprocessing.
The COVID-19 pandemic has been a significant growth driver for several process analytical technology offerings. The search for efficient preventive and curative medications is intensifying in response to rising infection and mortality rates. Due to the fact that process analytical technology is largely used to monitor and assess the drug development process, demand for it significantly increased in 2020.
For instance, in August 2022, as per the article published on InsideTele, modernizing synthesis workstations, offering precise reactor control, enabling the capture and digitalization of response process information, and securing the reproducibility as well as the link among users, experiments, and sites are all possible with the use of process analytical technology in drug formulation.
Due to the numerous benefits the technology provides, including lower production costs, lower capital expenditures, the desired quality, time savings, and the flexibility to allow pharmaceutical companies to direct their resources to other areas, such as marketing, the trend of outsourcing the production of pharma products to pure CMOs has risen significantly in recent years.
For instance, in July 2021, Arvinas Inc. and Pfizer Inc. established a worldwide partnership to manufacture and market ARV-471, an experimental oral PROTAC (proteolysis-targeting-chimera) estrogen receptor protein degrader. This is, in turn, driving the market for process analytical technology.
It is anticipated that the adoption of new and better process analytical technology by key industry players will accelerate the expansion of the global market. For instance, in November 2021, Thermo Fisher Scientific launched MS & chromatography equipment during the Human Proteome Organization (HUPO) Reconnect event.
For proteomics investigations, the high-resolution Thermo Scientific Orbitrap MS equipment is complemented by the Thermo Scientific Vanquish Neo UHPLC system, which reduces the loss of sample and produces data of the best possible quality. It is intended for high-sensitive LC-MS applications and has strong analytical efficiency at a rate of flow that ranges from 1 nL/min to 100 L/min up to 1,500 bar.
Process Analytical Technology Market Report Highlights
- By product, the analyzers segment held the largest share in 2021. This is anticipated to be driven by the rising demand for the treatment of water and wastewater and increased use of process analyzers in medication safety
- By technique, the spectroscopy segment captured a leading share in 2021. One of the main factors propelling the expansion of the spectroscopy segment is the rise in pharmaceutical and biopharmaceutical R&D activities and technological developments that lead to process optimization
- By monitoring method, the in-line segment accounted for the largest share in 2021. The segment is being driven by the low turnaround times and consistency of results from the in-line analysis
- By end-use, the pharmaceutical and biotechnology companies segment held the largest share in 2021. This can be attributed to the expanding biotechnology sector in both established and emerging nations and the rising need for biochemical analysis brought on by the approval and introduction of numerous biologic medications
- North America dominated the market in 2021. The regional market is driven by an increase in R&D spending by pharmaceutical and biopharmaceutical organizations, increasing focus on quality and production, improved efficiency, growing ability to adhere to QbD principles by businesses operating in the region, and the availability of technologically advanced healthcare research framework
- Asia Pacific is expected to expand at the highest rate over the projected period. This can be attributed to expanding government investment in the biotechnology sector, a rise in the number of contract research and manufacturing companies, and a growing concentration of global players in developing regions
Global Process Analytical Technology Market Variables, Trends, & Scope
Market Driver Analysis
- increasing Adoption Of Pat For Controlling Manufacturing Processing In Pharma And Biopharma Industry Can Positively Impact The Market Growth
- Technological Advancements In Pat Are Expanding The Growth Prospects
- Growing Adherence To Quality By Design (QBD) Principles Can Boost The Pat Market
Market Restraint Analysis
- High Implementation Cost May Limit The Adoption Of Process Analytical Technology
- Requirement Of Skilled And Qualified Personal To Operate PAT Tools May Restrict The Market Growth
Market Opportunity Analysis
- Digital Transformation In The Biopharma Industry Represents New Opportunities For The Implementation Of Integrated Monitoring And Optimization Systems Using PAT
COVID-19 Impact Analysis
Porter’s Five Forces Analysis
SWOT Analysis, By Factor (Political & Legal, Economic, And Technological)
Competitive Landscape
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Danaher Corporation (Ab Sciex LLC)
- Bruker Corporation
- Perkinelmer, Inc.
- Abb Ltd.
- Carl Zeiss AG (Zeiss Group)
- Emerson Electric Co.
- Mettler-Toledo
- Shimadzu Corporation
- Sartorius AG
- Hamilton Company
- Repligen Corporation
For more information about this report visit https://www.researchandmarkets.com/r/2omxlu
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