In September 2022, Agilent and Mettler Toledo collaboratively launched a new sample preparation workflow for chromatography instruments. The new solution provides fully automated and digitized liquid or gas chromatography workflows.
This press release was originally issued by SBWire
Northbrook, IL 60062 — (SBWIRE) — 09/11/2022 — Process Analytics Technology Market is expected to reach USD 6.1 billion by 2027 from USD 3.2 billion in 2022, at a CAGR of 13.8% during the forecast period, according to a new report from MarketsandMarkets™. Increased research spending by biopharmaceutical companies; stringent regulatory scenario for drug safety, improving drug quality; and technological advancements are the major factors fueling the adoption of PAT technologies globally.
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Browse in-depth TOC on “Process Analytics Technology Market”
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Molecular Spectroscopy Segment to Record Significant Growth Rate Over the Forecast Period 2022-2027
Based on the type of technology, the global PAT market has been categorized into five major segments: spectroscopy, chromatography, particle size analysis, capillary electrophoresis, and other technologies. The spectroscopy segment is further sub-segmented into molecular spectroscopy, mass spectrometry, and atomic spectroscopy. The molecular spectroscopy segment should record significant growth. In the pharmaceutical industry, molecular spectroscopy has many applications, such as quantitative analysis of pharmaceutical substances, detection of pathogens, quantification of proteins, biochemistry and biophysical research. The wide scope of application of this technology and the presence of stringent regulatory guidelines for drug development and safety are the major factors driving the growth of the global molecular spectroscopy market.
The product segment accounted for the largest share of the process analytics technology market, by product and service market in 2021
The product segment dominates the process analytics technology market and the trend is expected to continue during the forecast period. In 2021, this segment held the largest share owing to technological advancements in process analysis techniques that provide operational efficiency and reduce process cycle time.
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Online analytics segment led the market in terms of measurement, in 2021
Process analysis technology tools are used for the timely measurement of critical process parameters (CPP) during drug development and manufacturing. CPP analysis is performed by deploying analytical techniques using various measurement methods, such as online, online, online, and offline. In 2021, the online analytics segment dominated this market, owing to the low turnaround time and consistency of results achieved by online process measurement.
The North America market will hold a major share of the market during the forecast period
North America comprising the United States and Canada accounted for the largest share of the global PAT market in 2021. This market is primarily driven by the availability of funding for research activities; strict drug development regulations; and conferences, discussions, symposia and seminars on analytical technologies.
As of 2021, the major players in the PAT market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), 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), among others.
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