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(IT-NEWSWIRE.COM, February 28, 2019 ) Growth in the market is primarily driven by factors such as government regulations on drug safety, need for manufacturing process efficiency leading to quality improvement, and technological advancements in analytical devices. Other factors supporting market growth include an increase in R&D spending by pharma and biopharma companies and increasing government investments in emerging countries.
In addition, growing adoption of analytical instruments in the burgeoning biopharmaceutical markets and lucrative emerging markets are expected to offer growth opportunities for manufacturers of process analytical technology solutions. However, the high cost of PAT deployment and a dearth of skilled professionals and infrastructural loopholes in developing markets are restraining the growth of this market.
Growth in the market is primarily driven by factors such as government regulations on drug safety, need for manufacturing process efficiency leading to quality improvement, and technological advancements in analytical devices.
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Other factors supporting market growth include an increase in R&D spending by pharma and biopharma companies and increasing government investments in emerging countries. The emerging markets are also expected to offer plenty of growth opportunities for players in the market. The high cost of process analytical technology deployment and a dearth of skilled professionals are expected to limit market growth to a certain extent.
Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Danaher Corporation (U.S.) are the leading players in the global process analytical technology market. The strong position of these companies in the market can primarily be attributed to their global presence and broad product portfolio. Other major players in the market include Bruker Corporation (U.S.), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), ABB Ltd. (U.S.), Carl Zeiss AG (Germany), Emerson Electric Co. (U.S.), and Mettler-Toledo International Inc. (U.S.).
Stakeholders:
# Process analytical technology manufacturers, suppliers, and providers
# Pharmaceutical and biopharmaceutical firms
# Contract research and manufacturing organizations
# Academic and private research institutions
Thermo Fisher Scientific Inc. dominated the global PAT market in 2016. The company offers analytical technologies through its analytical instruments business segments, which cater to the markets in developed as well as developing countries. The company mainly focuses on product launches as its key growth strategy. The company launched many products between January 2016 and July 2016, including the Vanquish Flex Binary UHPLC system, Q Exactive BioPharma, Exactive GC Orbitrap GC-MS, Dionex Chromeleon 7.2 Chromatography Data System, and MAbPac RP column.
Agilent Technologies, Inc. held the second position in the global PAT market in 2016. Agilent Technologies operates under three business segments, namely, Life Sciences and Applied Markets, Diagnostics and Genomics, and Agilent CrossLab. The company focuses on organic growth strategies such as product launches and expansions in various territories to keep up with its competitors.
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Danaher Corporation held the third position in the global PAT market. The company offers its process analytical technology solutions through its subsidiary, AB Sciex LLC, (U.S.). It focuses on strategies such as partnerships and collaborations to enhance its technical strengths as well as secure its market position. The company also focuses on product launches to improve its portfolio. The company has a global presence in developed regions such as North America and Europe as well as developing regions such as Asia-Pacific and Latin America.
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MarketsandMarkets
Mr. Shelly Singh
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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