Process Analytical Technology Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 5.67 Billion |
| Market Size (2029) | USD 8.19 Billion |
| CAGR (2024 - 2029) | 7.61 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Process Analytical Technology Market Analysis
The Process Analytical Instrumentation Market size is estimated at USD 5.67 billion in 2024, and is expected to reach USD 8.19 billion by 2029, growing at a CAGR of 7.61% during the forecast period (2024-2029).
The most vastly used analysis for process engineering is process gas chromatography. It is the most utilized method for gas analysis since it permits multiple components to be analyzed alongside. Gas chromatographs have plenty of downtime and need a lot of supervision. The gas chromatograph consists of a process modular oven choice that another module may fix and replace. Furthermore, this may decrease equipment downtime & improve process productivity. Customers find process gas chromatographs difficult, although they are the most broadly used analyzer for hydrocarbon & other complicated gas analyses.
- The growth of automation in the manufacturing sector has driven the development of the market studied. With the worldwide impact of Industry 4.0, the manufacturing industry is going toward automation. Process analytical instruments are a good fit with this evolving trend. For instance, integrating digital communications technologies & standards like foundation fieldbus & electronic device description language has constructed the information collected by the instruments readily accessible to enhance the process and deliver persistent accuracy.
- In current years, the increase in the market studied has been driven by factors like the growing use of the equipment in process engineering, high investments in pharmaceuticals worldwide, strict regulations on drug safety, growing emphasis on the quality of food products, development of crude and shale gas production, and technological advancements in mass spectrometers. Spectrometers are discovering applications in environmental, petrochemical, food safety, metallurgical, geochemical, & clinical toxicology research. These products are primarily used in markets like China, India, and Latin America to help comply with growing stringent international environmental & consumer safety regulations.
- Furthemore, the future of the market is anticipated to have a greater influence of factors such as a high investments in pharmaceuticals across the globe, stringent safety regulations medicines, the expansion of crude oil and shale gas production, increasing attention to food quality and technological advances in mass spectrometers.
- However, analytical instrumentation's software licensing should be considered among the major challenging factor to the studied market, as different companies have different licenses. For instance, some allow the use of software on other computers for data processing; while others require the purchase of a second license for this purpose. Hence, such issues may negatively impact the growth of the market studied market during the forecast period.
- During COVID-19 global economy was under stress. After many years of strong growth, global trade slowed, mainly due to the accumulation of problems in Europe and the United States. Similar issues might arise in emerging economies in the future. However, these short-term dynamics should clarify the longer-term structural changes in the global trading system which is anticipated to work in favor of the studied market.
Process Analytical Technology Market Trends
Pharmaceutical and Biotechnology is Observing a Significant Growth
- This segment contains firms engaged in manufacturing medicinal & pharmaceutical products. It also contains companies delivering healthcare devices utilized for treatment or diagnosis.
- The biopharmaceutical manufacturing industry relies on analytical testing to help improve productivity, optimize and monitor processes, characterize biologics and biosimilars, and provide real-time product quality control. All these are essential in creating a more streamlined process within biomanufacturing, resulting in lower costs, more consistent product quality, and more efficient manufacturing across the board.
- The pharmaceutical industry has always searched for ways to improve product quality. Over time, as instrument accuracy and precision improved, the industry began focusing more on efficiency. Hence, the growing investment in pharmaceutical research and development will create a favorable outlook for the growth of the studied market. For instance, according to EvaluatePharma, global spending on pharmaceutical research and development is anticipated to reach USD 254 billion during the forecast period.
- Furthermore, crucial analytical tools like chromatography and spectroscopy are gaining new ground. Since chromatography (GC) machines can analyze tiny and light compounds, GC is used in post-production. In other words, GC is a standard process during quality control. However, identifying volatile impurities is the primary use of GC within the pharmaceutical industry.
- There are several optical spectroscopy techniques, and each excels at various manufacturing stages. While some methods enjoy wide acceptance, such as near-infrared (NIR) and Fourier transform infrared (FTIR) absorption spectroscopy, broader adoption of newer techniques, such as terahertz Raman spectroscopy, can also benefit pharmaceutical production. More recently, spectroscopy has also begun to focus on the structural composition and distribution of pharmaceutical products. It has additional applications in quality control, which help validate that the manufacturing process and end products meet strict compliance and regulatory controls. Such trends will favor the growth of the studied market in future.
North America to Hold a Significant Market Share
- Process analytical technology (PAT) and instrument vendors in North America have continually advanced their technology's usability, accuracy, reliability, and efficacy in the past few years. Companies in this sector introduced technological developments and other innovations to better support lab and QA/QC operations.
- The traditional ways of production in the industries, such as oil and gas, metal and mining, and pharmaceuticals, involved processes that included manufacturing of the finished products and laboratory analysis for verifying the quality of the final finished products. However, these traditional methods have some drawbacks as recurring manufacturing difficulties, constant process optimization, and the probability of failed batches. Thus, to overcome these glitches, the new technology known as PAT was introduced by FDA (Food and Drug Administration) to change the mode of operation.
- The US FDA has outlined a regulatory framework for PAT implementation. With this framework, the FDA tries to motivate the pharmaceutical industry to enhance the production process. For instance, in January 2021, the new portable multi-gas monitor was launched by ENVEA, intending to meet the demands of regulatory and routine stack emission monitoring while saving users'' time throughout their on-site day. The MIR 9000P complies with global regulations and standards, including US EPA's. For eight parameters, it ensures great accuracy and wide measuring ranges (NOx, SO2, CO, CO2, CH4, N2O, O2, and residual H2O). The analyzer uses a built-in paramagnetic sensor to measure O2 while using the non-dispersive infrared technique with gas filter correlation (NDIR-GFC) (SRM).
- Owing to the existence of the United States and Canada, which are the countries that spend a substantial amount on research and development and hold a prominent share in life sciences, oil and gas, materials sciences, pharma, and biopharma industries, the region holds a major share of the process analytical instrumentation market. According to Pharmaceutical Commerce, the pharmaceutical market is on the rise in the United States. By 2023, it is expected that Americans will spend USD 635 to USD 655 billion on pharmaceuticals; compared to 2019, this indicated a solid 29.6-33.7% rise in spending in 2020.
- The increase in the approval of new drugs would significantly drive the rise of pharmaceutical solutions, which would enhance the requirement of process analytical instruments to analyze the chemical composition or physical properties of the solution during drug making. For instance, the FDA's Center for Drug Evaluation and Research (CDER) approved 37 new drugs and biological products in 2022. Furthermore, 20 of the 37 novel drugs approved in 2022 (54%) were identified by CDER as first-in-class.
Process Analytical Technology Industry Overview
The process analytical instrumentation market is fragmented, with several major companies. The companies continuously invest in strategic partnerships and product developments to gain market share. Some major players in the market are ABB Ltd, Siemens AG, Bruker Corporation, Emerson Electric Co., and Endress & Hauser. Some of the recent developments in the market are:
- April 2023 - India's Science and Technology Minister launched an initiative under which the ministry will provide financial support for the maintenance and degradation of analytical instrumentation facilities (AIFs) created under the ministry's support. The Support for Up-gradation Preventive Repair and Maintenance of Equipment (SUPREME) program by the government extends financial support for maintenance, repair, degradation, or acquiring additional attachments to increase the functional capabilities of existing analytical instrumentation facilities.
- June 2022 - Endress + Hauser AG launched the LiquilineSystem CA80TN, which provides a precise and regular-compliant online measurement of total nitrogen. The LiquilineSystem CA80TN colorimetric analyzer could deliver real-time nitrogen values, helping wastewater treatment plant managers control their processes. The titanium reactor of the CA80TN analyzer and its hard-coated optical filters could offer superior long-term performance.
Process Analytical Technology Market Leaders
ABB Ltd.
Siemens AG
Bruker Corporation
Emerson Electric Co.
Endress & Hauser
*Disclaimer: Major Players sorted in no particular order
Process Analytical Technology Market News
- August 2023: Rentschler Biopharma announced a collaboration with Refeyn and Cell and Gene Therapy Catapult (CGT Catapult). This collaboration aims to leverage cutting-edge process analytical technologies (PAT) to enhance the manufacturing efficiency of adeno-associated viruses (AAVs) in gene therapy production. The partners aim to create a digitized and automated AAV gene therapy manufacturing platform. The companies will use their collective expertise in manufacturing, process analytics, and PAT to design automated monitoring and control systems tailored for integration into Rentschler Biopharma's current AAV manufacturing workflow.
- March 2023: Cell and Gene Therapy Catapult (CGT Catapult) inaugurated a state-of-the-art laboratory in Stevenage. The lab has been designed and equipped to enable real-time monitoring and management of advanced therapy manufacturing processes for cell and gene therapy developers. The objective is to enhance product quality and safety while boosting production capacity. This Process Analytical Technologies (PAT) lab is tailored to offer a digitally empowered environment. The developers can maintain stringent control over product quality as they transition to larger-scale production.
- June 2022 - Process Insights announced the acquisition of the assets of the Process Analyzers business from Schneider Electric. The acquired FTIR/FT-NIR analyzers and the process mass spectrometers expand Process Insights' core gas and liquid-phase analysis and measurement capabilities. They round out Process Insights' online and laboratory product portfolio for a one-stop, total solution strategy.
- May 2022 - The Minispec Droplet Size Analyzer 2.0 was a new addition to Bruker Corporation's Minispec Nuclear Magnetic Resonance (NMR) product line. Based on the temporal domain (TD)-NMR technology, this most recent offering could provide a quick, precise, and non-intrusive approach to support texture and stability studies in food and cosmetic applications. The updated method comes with a brand-new user interface called GoScan, which characterizes the multimodal droplet size distribution. It could enhance the outcomes of unimodal distributions with assumed lognormal shapes.
- March 2022 - Horiba Ltd announced the launch of HyEVO, a hydrogen gas analyzer that could continuously measure hydrogen concentration in gases. This product could find its application in hydrogen engines and fuel cells. Furthermore, because it has a shorter response time, it could perform continuous measurements with high precision in 0.2-second increments.
Process Analytical Technology Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Competition
4.4 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Introduction of High-efficient Motors
5.1.2 Increasing Adoption of Power Management and Predictive Maintenance Solutions
5.2 Market Challenges
5.2.1 Dynamic Global Economy
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Gas Chromatographs
6.1.2 Gas Analyzers
6.1.3 Liquid Analyzers
6.1.4 Spectrometers
6.2 By End-user Industry
6.2.1 Oil and Gas
6.2.2 Chemicals & Petrochemicals
6.2.3 Pharmaceutical & Biotechnology
6.2.4 Metal & Mining
6.2.5 Water & Wastewater
6.2.6 Other End-user Industries
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Rest of the World
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ABB Ltd.
7.1.2 Siemens AG
7.1.3 Bruker Corporation
7.1.4 Emerson Electric Co.
7.1.5 Endress & Hauser AG
7.1.6 Extrel CMS LLC
7.1.7 Focused Photonics Inc.
7.1.8 Hach Company
7.1.9 Horiba Ltd
7.1.10 Mettler Toledo
7.1.11 MKS Instruments Inc.
7.1.12 Neo Monitors AS
7.1.13 Schneider Electric SE
7.1.14 ServomexGroup Limited
7.1.15 SICK AG
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Process Analytical Technology Industry Segmentation
Process analytical instrumentation falls under analyzers, monitors, and other instruments used for industrial purposes by oil, gas, chemical, petrochemical, pharmaceutical, semiconductor, factory automation, and other process industries. These products are often utilized parallel with various oil field instruments, infrared temperature measurement devices, subsea and ultra-deepwater fluid, flow measurement equipment, and specialized sampling, extraction, transport, and conditioning systems.
The Process Analytical Instrumentation Market is segmented by Type (Gas Chromatographs, Gas Analyzers, Liquid Analyzers, Spectrometers), End-User Industry (Oil & Gas, Chemicals & Petrochemicals, Pharmaceutical & Biotechnology, Metal & Mining, Water & Wastewater), and Geography. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |
| Gas Chromatographs | |
| Gas Analyzers | |
| Liquid Analyzers | |
| Spectrometers |
| By End-user Industry | |
| Oil and Gas | |
| Chemicals & Petrochemicals | |
| Pharmaceutical & Biotechnology | |
| Metal & Mining | |
| Water & Wastewater | |
| Other End-user Industries |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
Process Analytical Technology Market Research FAQs
How big is the Process Analytical Instrumentation Market?
The Process Analytical Instrumentation Market size is expected to reach USD 5.67 billion in 2024 and grow at a CAGR of 7.61% to reach USD 8.19 billion by 2029.
What is the current Process Analytical Instrumentation Market size?
In 2024, the Process Analytical Instrumentation Market size is expected to reach USD 5.67 billion.
Who are the key players in Process Analytical Instrumentation Market?
ABB Ltd., Siemens AG, Bruker Corporation, Emerson Electric Co. and Endress & Hauser are the major companies operating in the Process Analytical Instrumentation Market.
Which is the fastest growing region in Process Analytical Instrumentation Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Process Analytical Instrumentation Market?
In 2024, the North America accounts for the largest market share in Process Analytical Instrumentation Market.
What years does this Process Analytical Instrumentation Market cover, and what was the market size in 2023?
In 2023, the Process Analytical Instrumentation Market size was estimated at USD 5.24 billion. The report covers the Process Analytical Instrumentation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Process Analytical Instrumentation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Process Analytical Technology Industry Report
Statistics for the 2024 Process Analytical Technology market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Process Analytical Technology analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
