Market growth is primarily driven by factors such as government regulations on drug safety, need for manufacturing process efficiency leading to quality improvement, and technological advancements in analytical devices. Other factors supporting market growth include an increase in R&D spending by pharma and biopharma companies and increasing government investments in emerging countries. The emerging markets are also expected to offer plenty of growth opportunities for players in the market.
Stakeholders of the Global Industry:
# Process analytical technology manufacturers, suppliers, and providers
# Pharmaceutical and biopharmaceutical firms
# Contract research and manufacturing organizations
The global market is segmented on the basis of technique, measurement, products and services, end user, and region.
On the basis of technique, the market is segmented into spectroscopy, chromatography, particle size analysis, capillary electrophoresis, and other techniques (calorimetry, thermal analysis, total organic carbon analysis, and FIA). The spectroscopy segment is expected to account for the largest share of the global process analytical technology product market in 2016. Increasing number of pharmaceutical and biopharmaceutical R&D activities and technological advancements resulting in process optimization are some of the key factors driving the growth of the spectroscopy segment.
On the basis of measurement, the market is divided into on-line, in-line, at-line, and off-line methods of measurement. The on-line analysis segment is expected to account for the largest share of the market in 2016. Low turn-around time and consistency in results obtained by on-line analysis are the major factors responsible for the large share of this segment.
On the basis of products and services, the process analytical technology market is segmented into analyzers, sensors and probes, and samplers. The products segment is expected to account for the largest share of the market in 2016. Increasing drug discovery and development activities and stringent regulations for drug safety are stimulating the demand for PAT products in the market.
Key Players:
The process analytical technology market is dominated by established players such as Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Bruker Corporation (U.S.), and PerkinElmer, Inc. (U.S.).
Geographical Growth Scenario:
North America is expected to account for the largest share of the global process analytical technology market in 2016, followed by Europe. Stringent regulatory guidelines to provide safe drugs is encouraging the use of PAT and the presence of a large number of market players are propelling the growth of the North American process analytical technology market. Asia-Pacific region is expected to grow at the highest CAGR in the forecast period.
Growing government investments in pharmaceutical R&D and the rise in contract research and manufacturing organizations in emerging Asia-Pacific countries are the key factors driving the growth of the Asia-Pacific market.
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