Process Analytical Technology Market Analysis 2022 - Global Industry Revenue Estimation and Demand Forecast to 2030 - Rising Importance of PAT in Pharmaceutical Industry
Dublin, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The "Process Analytical Technology Market Size and Share Analysis by Technique, Measurement, End User, Offering - Global Industry Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The process analytical technology market is expected to hit USD 13,626.5 million by 2030
Further, the PAT's key advantage is that quality is integrated into the final output rather than being checked before it is released. It aids in reducing batch rejection, shortening manufacturing cycle times, and boosting automation.
Rising Importance of PAT in Pharmaceutical Industry
The pharmaceutical manufacturers category holds the largest share, of 67%, in the market. This is due to the growing importance of PAT in the pharmaceutical industry's process development and scaling-up of asymmetric syntheses of chiral compounds, including active medicinal components.
Moreover, the category of biopharmaceutical manufacturers is predicted to register the fastest growth rate. This is a result of the growing biotechnology sector and increasing requirement for biochemical analysis brought on by the acceptance and introduction of several biologic medications.
A Sample Can Be Examined at Various Stages Using Spectroscopy
In 2022, the spectroscopy technique accounted for the largest share, 52.2%, in the market, and this category is predicted to maintain the fastest rate in the years to come. This is explained by the rise in pharmaceutical and biopharmaceutical R&D efforts and the accompanying process optimization in technology.
In addition, spectroscopy aids in determining a sample's atomic structure and the molecular structure of the muscle, monitoring the concentration of dissolved oxygen in freshwater and marine environments, researching the emission lines of distant galaxies, modifying the structure of drugs to increase their space exploration, identifying proteins, efficiency, and respiratory gas analysis in hospitals.
The most popular spectroscopic method has also been molecular spectroscopy. Due to its extensive applications and rising demand in the pharmaceutical and biopharmaceutical sectors, the category is predicted to enjoy significant expansion in the future years.
Rising Government Investment in Biotechnology and Pharmaceutical Sectors in APAC
Geographically, APAC will grow at a 19.6% CAGR in the coming years attributed to the existence of several USFDA-approved pharmaceutical businesses, burgeoning biotechnology sector and expanding usage of analytical technologies, high R&D spending, increase in the frequency of various diseases that results in the rise in consumption of biologic and pharmaceutical medications and increase in healthcare spending.
Moreover, the European region is set to advance at an 18.2% rate in the future years. Despite maturing, the region's need for PAT products is mostly driven by the existence of large analytical technology businesses, a growing emphasis on quality, the expansion of the biotechnology sector, and rising R&D spending by pharmaceutical firms.
Outsourcing of manufacturing processes to contract manufacturing organizations
Rising R&D expenditure by drug manufacturers and investment by governments of emerging economies
Growing adherence to QbD principles
Increasing focus on quality and manufacturing process efficiency improvement
Technological advancements in analytical device industry
Impact analysis of drivers on market forecast
High cost of PAT implementation
Lack of skilled professionals
Impact analysis of restraints on market forecast
Increasing use of analytical instruments in bioprocesses
Growing demand for PAT in emerging markets
Carl Zeiss AG
Mettler-Toledo International Inc.
Emerson Electric Co.
Thermo Fisher Scientific Inc.
Agilent Technologies Inc.
Malvern Panalytical Ltd.
Sartorius Stedim Biotech S.A.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Voice of KOLs
Chapter 5. Introduction
5.1 Definition of Market Segments
5.1.1 By Technique
22.214.171.124 Capillary electrophoresis
126.96.36.199 Particle size analysis
5.1.2 By Measurement
5.1.3 By Offering
188.8.131.52.2 Sensors and probes
5.1.4 By End User
184.108.40.206 Pharmaceutical manufacturers
220.127.116.11 Biopharmaceutical manufacturers
18.104.22.168 Contract research and manufacturing organizations
Chapter 6. Global Market Size and Forecast
6.2 Market Revenue, by Technique (2017-2030)
6.2.1 Global Spectroscopy-Based PAT Market Revenue, by Type (2017-2030)
6.2.2 Global Chromatography-Based PAT Market Revenue, by Type (2017-2030)
6.3 Market Revenue, by Measurement (2017-2030)
6.4 Market Revenue, by End User (2017-2030)
6.5 Market Revenue, by Offering (2017-2030)
6.5.1 Global PAT Products Market Revenue, by Type (2017-2030)
6.6 Market Revenue, by Region (2017-2030)
For more information about this report visit https://www.researchandmarkets.com/r/lkq4o
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900