Biopharmaceutical Process Analytical Technology Market Worth $2.6 billion | MarketsandMarkets™

CHICAGO, May 14, 2024 /PRNewswire/ — Biopharmaceutical Process Analytical Technology Market in terms of revenue was estimated to be worth $1.2 billion in 2024 and is poised to reach $2.6 billion by 2029, growing at a CAGR of 16.0% from 2024 to 2029 according to a new report by MarketsandMarkets™.

The global embrace of Process Analytical Technologies (PAT) is propelled by heightened research investment from biopharmaceutical firms, rigorous regulatory criteria for drug safety, improvements in drug quality, and technological advancements.
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Biopharmaceutical Process Analytical Technology Market Scope:
Report Coverage
Details
Market Revenue in 2024
$1.2 billion
Estimated Value by 2029
$2.6 billion
Growth Rate
Poised to grow at a CAGR of 16.0%
Market Size Available for
2022–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Type, Product Type, Mode, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Healthcare costs are on the rise in developing nations
Key Market Drivers
Increasing demand for enhancing the quality of manufacturing processes
Liquid chrpmatography/HPLC segment to register significant growth rate over the forecast period of 2024-2029.
Based on the type, the global biopharmaceutical process analytical market has been classified into segments— liquid chromatography/HPLC, Gas chromatography, mass spectrometry, real-time PCR/QPCR, NGS, NMR spectroscopy, raman spectroscopy, infrared spectroscopy, particle counters and imaging, differential light scattering, and other techniques. Liquid chromatography/HPLC segment is anticipated to register significant growth. The wide-ranging use of chromatography within the biopharmaceutical sector, spanning tasks such as quantifying pharmaceutical compounds, identifying pathogens, measuring proteins, and supporting biochemistry and biophysics investigations, emphasizes its significance. Moreover, stringent regulatory standards governing drug development and safety play a significant role in driving its global growth.
Analyzers segment accounted for the largest share of the biopharmaceutical process analytical technology, by product type market in 2023.
Based on product type, Analyzers segment dominates the biopharmaceutical process analytical technology market, and the trend is expected to continue over the forecast period. In 2023, This sector claimed the largest share due to advancements in process analytical techniques, which provide operational efficiency and decrease process cycle times.
Online analysis segment dominated the market in terms of measurement, in 2023.
Based on mode, In 2023, the dominant segment in the biopharmaceutical process analytical technology tools market was online analysis. The swift processing and dependable outcomes were credited to the efficient monitoring of crucial process parameters (CPP) throughout drug development and manufacturing. A range of analytical methods, such as on-line, in-line, at-line, and off-line approaches, were utilized to effectively analyze CPP.
North America market to hold major share in the market during the forecast period.
Based on region, North America, comprising the US and Canada, accounted for the largest share of the global biopharmaceutical process analytical technology market in 2023. The primary factors fueling this market encompass the availability of research funding, stringent regulations overseeing drug development, and the increasing prevalence of conferences, discussions, symposiums, and seminars centered around analytical technologies.
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Biopharmaceutical Process Analytical Technology Market Dynamics:
Drivers:
Increasing demand for enhancing the quality of manufacturing processesRestraints:
High cost of PAT deploymentOpportunities:
Healthcare costs are on the rise in developing nationsChallenge:
Lack of skilled professionalsKey Market Players of Biopharmaceutical Process Analytical Technology Industry:
As of 2023, prominent players in the biopharmaceutical process analytical technology market are Waters Corporation (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Bruker Corporation (US), Emerson Electric Co. (US), ABB Ltd. (Switzerland), PerkinElmer, Inc. (US), Mettler-Toledo International Inc. (US), and Carl Zeiss AG (Germany), among others.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1 30%, Tier 2–42%, and Tier 3– 28%By Designation: C-level–14%, D Level–10%, and Others–76%By Region: North America–40%, Europe–30%, Asia Pacific–22%, Latin America–6%, and the Middle East & Africa–2%Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=95920337
Recent Developments of Biopharmaceutical Process Analytical Technology Industry:
In Feb 2024, Thermo Fisher Scientific Inc. introduced the Thermo Scientific Dionex Inuvion Ion Chromatography (IC) system, aimed at simplifying, and enhancing ion analysis across laboratories of varying scales. This innovative analytical instrument offers easy reconfiguration, serving as a comprehensive solution for the precise determination of ionic and small polar compounds, ensuring consistent and reliable results.In April 2022, Thermo Fisher Scientific Inc. has introduced the Ramina Process Analyzer, a Raman spectroscopic analyzer aimed at simplifying Raman spectroscopy measurements to enhance user accessibility by reducing complexity.In June 2021, Agilent Technologies Inc. launched three InfinityLab Bio LC systems have been introduced by the company, tailored to address the increasing demands of the biopharmaceutical sector.Biopharmaceutical Process Analytical Technology Market – Key Benefits of Buying the Report:
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the biopharmaceutical process analytical technology marketProduct Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the biopharmaceutical process analytical technology marketMarket Development: Comprehensive information on lucrative emerging regionsMarket Diversification: Exhaustive information about new products, growing geographies, and recent developments in the biopharmaceutical process analytical technology marketCompetitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.Related Reports:
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