Major Stakeholders of the Global Process Analytical Automation Market:
# Process analytical technology manufacturers, suppliers, and providers
# Pharmaceutical and biopharmaceutical firms
# Contract research and manufacturing organizations
# Academic and private research institutions
Global Geographical Growth Scenario:
North America is expected to account for the largest share of the Process Analytical Technology Market in 2016. Regulatory compliance encouraging the use of PAT and presence of a large number of market players are propelling the growth of the North American market.
However, the Asia-Pacific region is estimated to witness the highest growth during the forecast period. In recent years, the Asia-Pacific market for process analytical technology is witnessing significant growth owing to the rising government funding in the biotechnology industry, increasing number of contract research and manufacturing organizations, and increasing focus of international players in emerging markets.
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Global Growth Boosting Factors:
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.
Expected Monetary Gains:
The global process analytical technology market is poised to reach USD 3.30 Billion by 2021 from USD 1.77 Billion in 2016, at a CAGR of 13.3% from 2016 to 2021.
Industry Segmentation:
On the basis of technique, the Process Analytical Automation 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 Process Analytical Technology 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 Automation 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.
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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.).
Companies in the process analytical technology market are majorly focusing on product launches for strengthening their market share; this strategy accounted for 63.5% of the total number of strategic developments undertaken by key players in this market.
