NEW DELHI, Sept. 15, 2022 (GLOBE NEWSWIRE) — The growing market demand for process analytical technology in the pharmaceutical industry is driving the development of new, innovative and reliable technologies. The main driver of this trend is the rising cost of manufacturing drugs and increased scrutiny by regulators. PAT plays an important role in ensuring the quality and safety of medicines. It is used to determine the purity, potency, identity and structure of drugs.
PAT also helps identify potential problems in the drug manufacturing process, such as contamination or foreign objects. In a recent study of the global process analytical technology market, it was found that process analytical technology can identify contaminants as low as 0.1 parts per million. This can save a lot of time and money in the production process.
Get a sample copy of this report: https://www.astuteanalytica.com/request-sample/process-analytical-technology-market
Top 5 players hold approximately 30% share of the global process analytics technology market
According to Astute Analytica, Agilent Technologies, Inc. (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), PerkinElmer (US) and Bruker (US), ABB Ltd. And Shimadzu Corporation are some of the players in the global process analytics technology market. Among them, the top 5 players account for about 30% of the global market in 2021.
These companies focus on developing innovative technologies that primarily improve quality assurance and diagnostic processes in the pharmaceutical industry. Some of the key products provided by these companies include biochemical analysis tools, flow cytometers and mass spectrometers.
One of the leading suppliers in the global process analytical technology market is Thermo Fisher. It offers a range of solutions including liquid chromatography-mass spectrometry (LC-MS), gas chromatography-tandem mass spectrometry (GC-MS/MS), optical detection and nuclear magnetic resonance (NMR). The company is known for providing absolute confirmation of product quality and helping manufacturers avoid costly recalls.
According to Astute Analytica, one of the main ways players advance technology is by acquiring new patents. Many well-known players in the industry have patented various processes and technologies, which give them a competitive advantage. This can be a significant challenge for smaller companies in the process analytics technology market, as it requires significant investment in R&D to stay ahead. However, some startups have been able to innovate faster by relying on patents from other industries.
Other methods players use to improve their products include acquisitions and partnerships. Some large companies are willing to pay large sums of money for smaller companies with promising technologies, while others form partnerships with other companies to collaborate on projects. For example, in March 2022, Denhal acquired GE Healthcare’s biopharmaceutical business. Additionally, in March 2022, Thermo Fisher acquired Max Analytical Technologies. This type of teamwork is essential for innovation because it allows different parts of a company to share their expertise and accelerate progress.
Browse the report summary and full table of contents (ToC): https://www.astuteanalytica.com/industry-report/process-analytical-technology-market
Artificial intelligence revolutionizes process analytics in pharmaceutical manufacturing
Process Analytical Technology (PAT) plays an important role in the pharmaceutical manufacturing process by providing data that supports decision making, quality control, and product development and manufacturing implementation. In recent years, Astute Analytica has observed that artificial intelligence (AI) is increasingly being used in PAT to improve the accuracy, speed and efficiency of data analysis.
There are several types of AI in the process analytics technology market, including rule-based AI, pattern recognition AI, natural language processing AI, and machine learning AI. Some common applications of these types of AI in PAT include intelligent sensor fusion, traceability analysis, predictive maintenance planning and execution, synthetic biology research, and efficacy prediction.
Some of the most popular applications of artificial intelligence in PAT include machine learning inspection (MLI), process identification (PI), and process optimization (PO). MLI is a technique that uses data streams to identify production process problems. PI uses regression analysis to determine the cause of failure and then develops a corrective action plan. PO helps manufacturers optimize their processes by identifying bottlenecks and planning necessary changes to improve overall plant performance.
AI is also being used to create predictive models for new products. Predictive modeling is a method used to develop models that can predict future events or behavior. This allows manufacturers in the process analytical technology market to test different product formulations before finalizing production. AI has also been used to measure the performance of human observers on inspection tasks.
Key Trends in the Global Process Analytics Technology Market
As the pharmaceutical industry moves from discovery to development to marketing new medicines, researchers and manufacturers are under constant pressure to shorten the time it takes to get products to patients. This pressure has led drug manufacturers and researchers alike to explore new ways to improve drug processing times. In this article, we take a look at some of the key trends in pharmaceutical process analysis technology.
- Focus on powerful automation: As the pace of drug development accelerates, so does the need for fast and accurate results. This requires the use of robust automation in the pharmaceutical process laboratory. The use of robotics, manufacturing automation, and data analytics helps to speed up and improve sample handling, assay generation, and MAID operations, which is expected to drive the growth of the process analytics technology market.
- Converting to an on-demand lab: For many companies, converting their discovery lab to a production line is not an option due to space constraints or regulatory constraints. Instead, they turned to services that provide dedicated lab space on demand—often called labs on demand (LOD). LOD solutions allow companies to outsource all or part of their R&D pipeline, including chemical synthesis, purification, characterization, and sample testing.
- Precision Medicine: As technology continues to advance, it becomes possible to provide patients with more targeted treatments. This precision medicine approach relies on using drug course analytics data to identify patient profiles and predict their response to various treatments. By understanding how drugs affect different populations, manufacturers can develop better drugs.
Top Players in the Global Process Analytics Technology Market
- ABB Ltd.
- Agilent Technologies
- Agilent Technologies
- Carl Zeiss
- Danaher Corporation
- emerson electric co.
- METTLER TOLEDO International
- Shimadzu Corporation
- Statistical Technology Corporation
- Thermo Fisher Scientific
- other famous players
Global Process Analysis Technology Market Scope
|Market size value in 2021||$2,638.9 million|
|2030 Market Outlook||$7.828 billion|
|Expected compound annual growth rate||13.2%|
|Company Profile||ABB Limited, Agilent Technologies Inc., Agilent Technologies Inc., Bruker Corporation, Carl Zeiss AG, Danaher Corporation, Emerson Electric Co., Mettler-Toledo International Inc., PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Statgraphics Technologies Inc., Thermo Fisher Scientific Inc., other well-known companies|
|Market segments covered||By Product, By Measurement, By Technology, By Application, By End User, By Region|
|area covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|custom options||Get your customized reports according to your preferences.request customization|
Purchase a copy of the report directly with TOC @ https://www.astuteanalytica.com/request-sample/process-analytical-technology-market
About Smart Analytics
Astute Analytica is a global analytics and consulting firm that has built a solid reputation in a short period of time due to the tangible results we deliver to our clients. We pride ourselves on delivering unparalleled, in-depth and extremely accurate estimates and forecasts to our very demanding clients across different verticals. We have a long list of satisfied and repeat customers from a wide range of sectors including technology, healthcare, chemicals, semiconductors, FMCG and more. These happy customers come from all over the world. They are able to make accurate decisions and take advantage of lucrative opportunities while overcoming tough challenges, all because we analyze for them the complex business environment, existing and emerging possibilities in market segments, technology formation, growth estimates, Even available strategic options. In short, a complete package. This is made possible by our highly qualified, competent and experienced team of professionals comprising business analysts, economists, consultants and technical experts. On our list of priorities, you – our patron – are at the top of the list. If you decide to work with us, you can be confident that we will provide you with the most cost-effective value-added package.
BSI Business Park, H-15, Sector-63, Noida- 201301- India
Tel: +1-888 429 6757 (U.S. toll free); +91-0120- 4483891 (rest of the world)
follow us: LinkedIn | Twitter