Pharmaceutical product manufacturing comprises stringent procedure in which monitoring and regulation of each and every step is highly essential and crucial affair. The pharmaceutical products are related with the health and life of an individual; hence the errorless analysis of each and every step is required.
According to the U.S. FDA, process analysis technology (PAT) can be defined as a mechanism or system used to analyze, evaluate and control pharmaceutical manufacturing process with the help of evaluation of critical process parameters (CPP) that influences critical quality attributes (CQA). Owing to tight regulations and requirements of various international certificates such as ISO and GMP for critical monitoring of pharmaceutical processes, the demand of these techniques has been increased.
The market of process analytical technologies for pharmaceuticals can be segmented on the basis of processes (services), equipment and applications of PAT. The equipment are further divided into spectrophotometers (mass spectrometer, UV-Visible spectrophotometer, nuclear magnetic resonance spectrophotometer, infrared spectrometers), chromatography instrument set (thin layer chromatography, gas chromatography, liquid chromatography), dissolution instrument, particle size analyzers (sieving, sedimentation, dynamic light scattering, aerosol mass spectrometry), capillary electrophoresis devices and others (hardness tester, physical properties [size, shape, color], friability test). On the basis of services, it is segmented into consultancy, calibration and database management system (DBMS). Moreover, on the basis of applications, it is divided into lyophilization, coating, compression, evaporation, raw material selection, packaging and others. Additionally, the market is segmented on the basis of geography, such as North America, Europe, Asia-Pacific and Rest of the World (RoW). At present, North America and Europe are the most prominent markets, owing to extensive pharmaceutical industries. However, Asia-Pacific and some countries in RoW are expected to show lucrative growth in the upcoming period, owing to increase in number of pharmaceutical infrastructure and technologies.
The market of process analytical technologies for pharmaceuticals is expected to show a lucrative growth during the forecast period from 2014 to 2020. This growth is expected to fuel by the factors such as strong pharmaceutical infrastructure in developed countries and rapid increase in number of pharmaceutical production units in the developing countries and technological advancements. Increasing pharmaceutical production and R&D are considered as the most important drivers of this market. For instance, according to the statistics provided by the European Federation of Pharmaceutical Industries and Association (EFPIA), the pharmaceutical production in Europe has increased from USD 112,000 million in 1990 to USD 2,620,000 million in 2012. This astonishing increase in pharmaceutical sector is expected to propel the market growth during the forecast period from 2014 to 2020. Furthermore, owing to technological advancements, a number of new and technologically sound devices are entering in the global market and the entry of these devices is anticipated to contribute in the growth of the market. Other important factors that are likely to drive market growth include increasing regulatory and government pressure to implement various tests during manufacture, rising prevalence of different diseases that fuels the demand of pharmaceutical formulations and others. On the other hand, high cost and tedious operations of the instruments, lack of technically competent workforce and threat of malfunctions and false results are the key hurdles that are likely to limit the growth of PAT market during the forecast period from 2014 to 2020.
Some of the major companies operating in this market include Danaher Corporation, Honeywell, Agilent Technologies, Fluke Biomedical, Tektronix, Inc. Thermo Fisher Scientific, Inc. and Carl Zeiss AG amongst others.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.