Process Analytical Technology Market Size, Leaders, Regional Analysis and Forecast Report 2023

The process analytical technology market (PAT) is witnessing growth due to the increasing focus on quality improvement, adherence to quality-by-design principles, and growing investments by drug manufacturers in research and development (R&D). The market valued $1,744.5 million in 2016, and it is expected to advance at a 12.9% CAGR during the forecast period.

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The process analytical technology market is observing the trend of outsourcing of the manufacturing process on contract. Numerous advantages, such as low capital investment and production cost, desired quality of the product, and the flexibility to focus on other areas of the supply chain, such as product marketing, are associated with outsourcing the operations to contract manufacturing organizations. With rules and regulations becoming stricter in many countries, companies are finding it easier to operate by employing outsourcing strategies than complying with the stringent regulatory process.

The process analytical technology market is segmented by geography, technique, end user, measurement, and products & services. Based on region, the categories are Middle East & Africa, North America, Latin America, Europe, and Asia-Pacific (APAC). During the historical period (2013-2016), the North American region held the largest market share. Even though it is expected to lead the market during the forecast period, the fastest growth is expected to be witnessed by the APAC region because of the rising number of USFDA-approved plants, surging demand for biotechnological and pharmaceutical products, and expanding generic drug industry in China and India.

The subdivisions of the products & services segment of the process analytical technology market are products and services. The products subdivision is further categorized into sensors & probes, analyzers, and samplers, whereas the main services are repair & maintenance of instruments, training services, and chemometrics & statistics data processing. Due to the rising demand for chemometrics and statistical data processing, the services subdivision is expected to attain faster growth compared to the products subdivision during the forecast period.

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Thus, as the pharmaceutical industry experiences a boom, so would the market for process analytical technology.

GLOBAL DRUG OF PROCESS ANALYTICAL TECHNOLOGY MARKET SEGMENTATION
By Technique
o Spectroscopy
o Molecular Spectroscopy
o Atomic Spectroscopy
o Mass Spectrometry
o Chromatography
o Liquid Chromatography (LC) Systems
o Gas Chromatography (GC) Systems
o Other Chromatography Systems
o Particle Size Analysis
o Capillary Electrophoresis
o Other Techniques
By Measurement
o In-Line Measurement
o At-Line Measurement
o On-Line Measurement
o Off-Line Measurement
By Products and Services
o Products
o Analyzers
o Sensors and Probes
o Samplers
o Services
By End User
o Pharmaceutical Manufacturers
o Biopharmaceutical Manufacturers
o Contract Research and Manufacturing Organizations
o Others

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This release was published on openPR.