Global Process Analytical Technology Market Size, Key Players and Future Scope | PerkinElmer, Inc., Mettler-Toledo International, Inc, Danaher Corporation, Thermo Fisher Scientific, Agilent Technologies

The process analytical technology market 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.

Global Process Analytical Technology Market Key Players are:
1- PerkinElmer, Inc.
2- Mettler-Toledo International, Inc
3- Danaher Corporation
4- Thermo Fisher Scientific
5- Agilent Technologies

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The process analytical technology market size 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 major driver for the process analytical technology market is the increasing investments in R&D activities, on which the growth of market is highly dependent, as with R&D comes funding, which is essential to implement the expensive technology. With technological improvements and rising disease burden, pharmaceutical companies have increased their R&D expenditure. As per Research America, in 2015, the U.S. medical sector drew 13.3% more investments compared to 2013. The Pharmaceutical Research and Manufacturers of America (PhRMA) mentioned that its member companies invested approximately $58.8 billion in R&D in 2015, which represented a 10.3% increase from 2014.

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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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