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Process Analytical Technology Market professional Survey Regional Analysis of the market, Policy and News Analysis
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The global process analytical technology market size was $1.7 billion in 2016 and is projected to grow at a CAGR of 12.9% during 2017-2023. Various techniques used drug manufacturing industry include spectroscopy, chromatography, capillary electrophoresis, particle size analysis, and other techniques. The process analytical technology industry includes products as well as services, the major products available in the market are classified as analyzers, sensors and probes, and samplers.
According to the Pharmaceutical Research and Manufacturers of America (PhRMA), its member companies invested an estimated $58.8 billion in R&D in 2015, an increase of 10.3% from 2014. Similarly, according to Research America, investment in medical and health R&D in the U.S. increased by 13.3% from 2013 to 2015. Also, the United States Food and Drug Administration (USFDA) has imposed regulations that require adherence to quality by design (QbD) principles, thereby, supporting the growth of process analytical technology industry in North America.
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The key players in the process analytical technology market are introducing advanced products in the market that have application in a wide variety of processes. For instance, In January 2017, Ab Sciex LLC, a subsidiary of Danahar Corporation, launched the X500B QTOF System in the X-Series Quadrupole Time of Flight (QTOF) mass spectrometry (MS) platform for biotherapeutic analyses and was one of the most compact MS system footprints on the market. In January 2017, PerkinElmer Inc., launched the NexION 2000 Inductively Coupled Plasma Mass Spectrometer (ICP-MS), designed to handle any sample matrix and detect any particle size.
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