The global process analytical technology market (PAT) is expected to grow from USD 2.59 billion in 2020 to USD 7.19 billion by 2027, at a CAGR of 13.6% during the forecast period 2020-2027. 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 are some of the key factors driving the demand in process analytical technology market. Technological advancements in the analytical devices industry have led to a greater adoption and implementation of process analytical technology in pharmaceutical as well as biopharmaceutical industry. The factors that hinder the growth of the market include, high cost of implementation and lack of skilled professionals.
The trend of outsourcing the manufacturing of pharma products to pure contract manufacturing organisations (CMOs) has been witnessed significantly in process analytical technology market in the recent past, due to the various advantages these CMOs offer such as low cost of production, low capital investment, desired quality production, time saving, and flexibility to divert resources to focus on other areas, such as marketing.
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Global Process Analytical Technology (PAT) Market Key Segments:
On the Basis of Type: Spectroscopy, Molecular Spectroscopy, Mass Spectrometry, Atomic Spectroscopy, Chromatography/Liquid Chromatography/Gas Chromatography
On the Basis of Application: Pharmaceutical Manufacturers, Biopharmaceutical Manufacturers, Contract Research and Manufacturing Organizations
On the Basis of Region:
Middle East and Africa (MEA)
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The Process Analytical Technology market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fuelled the need for Process Analytical Technology in inspection-related applications in the manufacturing fields.
However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC. As the neighbouring countries are linked to one another through trade relations and supply chain the entire region is affected with the outbreak of COVID-19 which will have a significant impact on the said market in this region for the forecast period.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Process Analytical Technology Market
Chapter 5. Global Process Analytical Technology Market Overview, By Application, 2015 – 2027(USD Million)
Chapter 6. Global Process Analytical Technology Market Overview, By Distribution Channel, 2015 – 2027(USD Million)
Chapter 7. Global Process Analytical Technology Market Overview, By Geography, 2015 – 2027(USD Million)
Chapter 8. North America Process Analytical Technology Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 9. Europe Process Analytical Technology Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 10. Asia Pacific Process Analytical Technology Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 11. Middle East & Africa Process Analytical Technology Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 12. South America Process Analytical Technology Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 13. Competitive Landscape
Chapter 14. Key Vendor Analysis
Chapter 15. Process Analytical Technology Market Cost Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
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