Process Analytical Technologies Market to Reach $539.3M by 2022

December 29, 2017

WELLESLEY, Mass., Dec. 29, 2017 – Led by dominance in the United States and rapid growth in countries such as China, India, Singapore and South Korea, the global process analytical technologies (PAT) for pharmaceuticals market will likely see continued steady growth, according to a report by BCC Research.

The mostly stable industry is projected to see a compound annual growth rate (CAGR) of 5.5% through 2022, when its value could reach $539.3 million, according to the report Process Analytical Technologies for Pharmaceuticals: Global Markets.

Process analytical technology is an initiative created by the U.S. Food and Drug Administration in 2002 to improve the pharmaceutical manufacturing process in order to create optimal-quality pharma products.

Companies mentioned in this report include Agilent Technologies, Thermo Fisher Scientific, Eli Lilly, PerkinElmer, Bruker, Jeol, Hitachi High-Technologies, ABB, GEA, Rockwell Automation and Shimadzu, among others.

Research Highlights

• An increase in research and development budgets across the industry is helping to boost growth of the market, as are collaborations among public-private and private-private entities.
• Spectroscopic tools and techniques are the most frequently used methods for pharmaceutical analysis. The global market for spectrophotometric tools and techniques is expected to grow by 5.6% through 2022, led by expansion in North America, with an expected CAGR of 6.2% and an estimated 2022 value of $108 million.
• Advancements in near infrared spectroscopy techniques are helping to growth the market. Regionally, the Asia-Pacific market anticipates 8.7% CAGR through 2022, a figure higher than the anticipated global growth of 6.0%.

“The market forces of innovation and the need to implement PAT in the pharmaceutical processes will drive this market in the coming years,” said report author Shalini Shahani Dewan. “There is a growing trend by the pharmaceutical manufacturers to implement the process analytical technologies in their manufacturing processes.”

Changing Technology, Unfavorable Markets May Limit Growth

Growth of the global process analytical technologies market is hampered by the same factors which limit growth in the pharmaceutical industry, Dewan said. Issues on the horizon include currency fluctuations, production-related issues and the continuously changing regulatory landscape of the pharmaceutical sector. Further, many countries in the Asia-Pacific region are working to tighten their regulatory processes to improve the quality of drug products, which could create market fluctuations.

Editors/reporters requesting analyst interviews should contact steven.cumming@bccresearch.com.

Process Analytical Technologies for Pharmaceuticals: Global Markets( IAS034C )
Publish Date: Dec 2017    

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