Process Analytical Technology Market Trends, Growth and Future Scope
Process Analytical Technology Market © vijay mishra
The market is growing due to the rising R&D expenditure by drug manufacturers and investments by government in emerging economies on implementation of process analytical technology, growing adherence to the quality by design (QbD) principles, and rising focus on increasing quality and manufacturing process efficiency.
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In terms of measurement, the global process analytical technology market is categorized into in-line measurement, at-line measurement, on-line measurement and off-line measurement. With batch production being the widely employed type of production in pharmaceutical industry, in-line and at-line measurement are the most utilized measurements in the market for process analytical technology. The in-line measurement accounted for 38.6% share of the worldwide process analytical technology industry in 2016. However, the on-line measurement is expected to be the fastest growing category, and is likely to witness a CAGR of 14.2% during the forecast period. The growth in the category is attributable to advancement in the production and quality control/quality assurance technology with increasing focus on on-line measurement.
Major players in the process analytical technology market are entering into partnerships with other firms to improve their position in the market. For instance, in June 2017, Thermo Fisher Scientific Inc. announced a co-marketing agreement with Biognosys AG, a company engaged in next-generation proteomics, to provide a workflow to allow library creation and data processing for Data-Independent Acquisition (DIA) studies, through the collective use of Orbitrap mass spectrometers and Spectronaut Pulsar software.
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Some of the other key players operating in the process analytical technology market include Brucker Corporation, PerkinElmer, Inc., Shimadzu Corporation, Carl Zeiss AG, Mettler-Toledo International Inc., Emerson Electric Co., Danaher Corporation, and ABB Group.
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In terms of measurement, the global process analytical technology market is categorized into in-line measurement, at-line measurement, on-line measurement and off-line measurement. With batch production being the widely employed type of production in pharmaceutical industry, in-line and at-line measurement are the most utilized measurements in the market for process analytical technology. The in-line measurement accounted for 38.6% share of the worldwide process analytical technology industry in 2016. However, the on-line measurement is expected to be the fastest growing category, and is likely to witness a CAGR of 14.2% during the forecast period. The growth in the category is attributable to advancement in the production and quality control/quality assurance technology with increasing focus on on-line measurement.
Major players in the process analytical technology market are entering into partnerships with other firms to improve their position in the market. For instance, in June 2017, Thermo Fisher Scientific Inc. announced a co-marketing agreement with Biognosys AG, a company engaged in next-generation proteomics, to provide a workflow to allow library creation and data processing for Data-Independent Acquisition (DIA) studies, through the collective use of Orbitrap mass spectrometers and Spectronaut Pulsar software.
Explore Report at: https://www.psmarketresearch.com/market-analysis/process-analytical-technology-market
Some of the other key players operating in the process analytical technology market include Brucker Corporation, PerkinElmer, Inc., Shimadzu Corporation, Carl Zeiss AG, Mettler-Toledo International Inc., Emerson Electric Co., Danaher Corporation, and ABB Group.