Why is Asia-Pacific Process Analytical Technology Market Booming?

From $3,283.8 million in 2021, the global process analytical technology market revenue is predicted to rise to $13,626.5 million by 2030.

According to the estimates of the market research organization, P&S Intelligence, the market will demonstrate a CAGR of 17.1% from 2021 to 2030 (forecast period). The major factors driving the expansion of the market are the increasing research and development (R&D) expenditure being made by drug producers, soaring investments being made by the governments of developing nations, rising emphasis on manufacturing process efficiency and quality improvement, rapid technological advancements, and surging need for adherence to various quality by design (QbD) principles. 

As the adoption of these solutions needs a very high capital investment and high operational costs, the expansion of the industry is heavily reliant on the research and development (R&D) expenditure. As per Research America, in the U.S., investments in medical and health R&D surged by 35.7% from 2013 to 2018. Additionally, the soaring investments being made by the governments of developing countries in the pharmaceutical industry are supporting the growth of the market across the globe. 

For example, Agilent Technologies Inc. developed three InfinityLab Bio LC systems �" the 1260 Infinity II Prime Bio LC system, the 1290 Infinity II Bio LC system with high-speed pump, and the 1290 Infinity II Bio LC system with flexible pump, in June 2021. All these advancements and innovations in the industry have fueled the demand for these technologies. Depending on end users, the process analytical technology market is divided into biopharmaceutical manufacturers, pharmaceutical manufacturers, and contract research and manufacturing organizations. 

Get Deep Analysis With Revenue Estimation: Process Analytical Technology Market Research Report

Globally, the Asia-Pacific (APAC) process analytical technology market is predicted to be the fastest-growing regional market in the coming years. This is attributed to the existence of several major pharmaceutical companies, booming biotechnology industry, mushrooming adoption of analytical technologies, soaring R&D expenditure, and rising incidence of several diseases in the region. In addition, Japan, India, and China are major markets for the technology in the region. For example, India is home to the largest number of pharmaceutical facilities approved by the United States Food and Drug Administration (USFDA), outside the U.S.

Hence, the demand for the process analytical technology will soar in the coming years, mainly because of the expansion of the pharmaceutical industry. 

Get Deep Analysis With Revenue Estimation: Process Analytical Technology Market Research Report