Process Analytical Technology Market Research Report: By Technique (Spectroscopy, Chromatography, Capillary Electrophoresis, Particle Size Analysis), Measurement (In-Line, At-Line, On-Line, Off-Line), End User (Pharmaceutical Manufacturers, Biopharmaceutical Manufacturers, Contract Research and Manufacturing Organizations), Offering (Products, Services) - Global Industry Analysis and Demand Forecast to 2030

Market Overview

The global process analytical technology market is estimated to generate $3,283.8 million revenue in 2021, and it is expected to grow at a CAGR of 17.1% during 2021–2030. The key factors responsible for the growth of the market include the rising research and development (R&D) expenditure by drug manufacturers and investment by governments of emerging economies, growing adherence to quality by design (QbD) principles, increasing focus on quality and manufacturing process efficiency improvement, and technological advancements in the analytical device industry.

The COVID-19 outbreak spread to almost every country, due to which the number of infected patients inflated, which strained countries’ healthcare ecosystem and resources. This is mainly on account of the intensifying demand for healthcare facilities, workers, medical equipment, devices, drugs, and research studies. Due to this pandemic, the pharmaceutical industry witnessed an unprecedented demand for the production of medical products at a large scale. Improved process understanding is imperative for achieving ambitious goals at each step of development from research labs, to pilot plants, to full-scale production sites.

Spectroscopy and In-Line Measurement Categories Dominate the Market

The spectroscopy category holds the largest share in the market in 2021, based on technique. This is attributed to the increasing pharmaceutical and biopharmaceutical R&D activities and technological advancements resulting in process optimization. Moreover, spectroscopy helps in the determination of the atomic structure of a sample and molecular structure of the muscle, monitoring of dissolved oxygen content in freshwater and marine ecosystems, studying the emission lines of distant galaxies, alteration of the structure of drugs to improve effectiveness, characterization of proteins, space exploration, and respiratory gas analysis in hospitals.

The in-line measurement category leads the process analytical technology market in 2021, and it is also expected to attain the same position in the coming years, based on measurement. This is mainly due to the rising adoption of in-line measurements in different PAT projects, along with batch production that is being widely employed in the pharmaceutical industry.

Biopharmaceutical Manufacturers, and Services Categories To Witness High Growth Rate

The biopharmaceutical manufacturers category is projected to register the fastest growth in the market during 2021–2030, based on end user. This can be attributed to the growing biotechnology industry in developed as well as developing countries and the rising demand for biochemical analysis due to the approval and launch of various biologic drugs.

The services category is expected to register a higher growth rate during the forecast period, based on offering. This can be mainly ascribed to the increasing demand for chemometrics and statistics data processing services, repair and maintenance services for instruments, and training services.

North America Holds the Largest Share in the Market

Geographically, North America leads the market in 2021, and it is expected to maintain the same position during the forecast period as well. This is majorly due to the rising R&D expenditure by pharmaceutical and biopharmaceutical companies, surging investments by governments, increasing focus on quality and manufacturing efficiency improvement, and growing adherence to QbD principles by companies operating in the region.

Outsourcing of Manufacturing Processes to Contract Manufacturing Organizations (CMOs) Is a Key Market Trend

The trend of outsourcing the manufacturing of pharma products to pure CMOs has grown significantly in the recent past due to the various advantages they offer, such as a lower cost of production, lower capital investment, desired quality, time saving, and flexibility to pharma companies to divert their resources to other areas, such as marketing. For instance, in July 2021, Arvinas Inc. and Pfizer Inc. announced a global collaboration to develop and commercialize ARV-471, an investigational oral proteolysis-targeting-chimera (PROTAC) estrogen receptor protein degrader. Hence, the CMOs are expected to witness significant growth in the future, thereby boosting the market.

Rising R&D Expenditure by Drug Manufacturers and Investment by Governments of Emerging Economies, and Rising Technological Advancements Are Driving the Market Growth

Since the deployment of these solutions requires a high capital investment and entails high operational costs, the growth of the market is dependent on the R&D expenditure. According to Research America, investment in medical and health R&D in the U.S. increased by 35.7% from 2013 to 2018. Moreover, the rising investment by the governments of emerging economies in the pharmaceutical sector is boosting the market. For instance, according to an article published in the Business Standard in February 2021, the Union Cabinet of India approved $2,025.0 million, under the production-linked incentive (PLI) scheme, for the development of the pharmaceutical sector during 2021–2029.

In the recent past, there have been many advancements in process analytical technology, such as the introduction of products that offer greater accuracy and have applications in a wide range of setups. For instance, in June 2021, Agilent Technologies Inc. launched three InfinityLab Bio LC systems, namely the 1290 Infinity II Bio LC system with high-speed pump, the 1290 Infinity II Bio LC system with flexible pump, and the 1260 Infinity II Prime Bio LC system, to meet the needs of the biopharma industry. All these advancements in the analytical device industry have led to a greater demand for these solutions.

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Market Players Involved in Product Launches to Gain Significant Position

The global industry has the presence of a large number of players in almost every country, which has increased the competition. In recent years, the players in the market have been involved in product launches in order to attain a significant position. For instance:

• In November 2021, Thermo Fisher Scientific Inc. launched MS and chromatography instruments, during the Human Proteome Organization (HUPO) Reconnect event. The Thermo Scientific Vanquish Neo UHPLC system complements high-resolution Thermo Scientific Orbitrap MS for proteomics analyses, reducing sample loss and providing the highest quality of data. It is designed for high-sensitivity LC-MS applications, with an excellent analytical performance at flow rates from 1 nL/min to 100 µL/min up to 1,500 bar.
• In September 2021, Thermo Fisher Scientific Inc. launched net zero MS for scientists working across geoscience, food and beverage, environmental science, and forensics areas to practice science sustainably. The Thermo Scientific Delta Q isotope ratio mass spectrometer (IRMS) is a next-generation gas IRMS designed to enable detailed analysis with higher precision and accuracy.

Key Players in Global Process Analytical Technology Market Are:

• PerkinElmer Inc.
• Shimadzu Corporation
• Carl Zeiss AG
• Mettler-Toledo International Inc.
• Emerson Electric Co.
• Danaher Corporation
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• Bruker Corporation
• ABB Ltd.

Market Size Breakdown by Segment

The global process analytical technology market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.

Based on Technique

• Spectroscopy
  • Molecular
  • Atomic
  • Mass
• Chromatography
  • Liquid chromatography (LC)
  • Gas chromatography (GC)
  • Others
• Capillary Electrophoresis
• Particle Size Analysis

Based on Measurement

• In-Line
• At-Line
• On-Line
• Off-Line

Based on End User

• Pharmaceutical Manufacturers
• Biopharmaceutical Manufacturers
• Contract Research and Manufacturing Organizations

Based on Offering

• Products
  • Analyzers
  • Sensors and probes
  • Samplers
• Services

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • China
  • Japan
  •  India
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • Saudi Arabia
  • U.A.E.
  • Turkey
  • Israel
  • Egypt
  • South Africa